Lifeboat Drills

Lifeboat Drills

The last time you were on an airplane, do you remember what the flight attendants did before takeoff?  Of course you do.  They provided you with a safety demonstration on what to do if there is an emergency.  But I’ll bet that virtually nobody paid any attention to them because nobody ever does.  (Full disclosure: I also ignore the safety demonstration.) If the plane has an issue though, there is no doubt that mayhem would ensue.  And rightfully so, I’d be…

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How To Know If You’ve Saved Enough For Retirement

How To Know If You’ve Saved Enough For Retirement

One of the great fears facing many retirees is if they have saved enough to retire.  And by extension, once in retirement, it can be stressful to spend the money they’ve spent their entire working lives accumulating.  I attribute much of the financial angst retirement to one primary issue. Many investors have never taken the time to write down how much they anticipate spending or what their guaranteed incomes will look like in retirement.  Once you’ve taken the time to…

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Emotions & Retirement Planning

Emotions & Retirement Planning

Last week, I had a conversation with a recently retired reader that I thought might be applicable to what many retirees are likely to experience at some point in retirement and wanted to share some insights with regard to how you might approach the issue. Important points from the conversation: Earlier this year during the market pullback, the investor sold his entire equity position and invested the proceeds into bonds which he acknowledged was a “knee-jerk reaction” to the market volatility….

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Estate Planning Essentials

Estate Planning Essentials

For most people, estate planning looks something like this: “When all is said and done, more is said than done.”  – Lou Holtz Anyone who has helped in the estate resolution process for a loved one knows it can be either an enormous pain or relatively painless (excluding the loss of your loved one, of course).  The level of difficulty is almost certainly determined by the planning or lack thereof done by the deceased.  The general public has erroneously focused…

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Perceived Value vs. Actual Value

Perceived Value vs. Actual Value

There have been studies that show that when people pay more for something, they believe the product is better.  For example, people rate wines better if they are told it is expensive. Based on this study, the wine doesn’t actually have to be better, people just have to believe it’s better and their mind takes over from there.  In the wine example, when the isolated variable is price, people were forced to assume that the higher the price, the higher the…

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The Role of Bonds in Retirement

The Role of Bonds in Retirement

Wrote a piece for CNBC on the role of bonds in a retirement portfolio.  In the article, I share some thoughts on the topic with the aid of historical perspective and how things have changed over the past few decades.  Below is the link.   Conventional Wisdom of Bonds Dominating a Portfolio in Retirement is now Outdated   Thanks for reading! Ashby Daniels Shorebridge Wealth Management 600 Waterfront Drive, Suite 125 Pittsburgh, PA 15222 412-742-4861 Disclaimers: Securities offered through Raymond…

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Who is going to help your spouse?

Who is going to help your spouse?

Last week I wrote a post titled “Switching Advisors at Retirement – Things to Consider“.  It didn’t occur to me until after re-reading it that I realized I omitted one of the most important (and overlooked) things you should be looking for in your search.  And that is, “Who is going to help your spouse if something happens to you?” When considering switching advisors, the final decision regarding who to hire often resides with the person that handles the day-to-day…

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Switching Advisors at Retirement – Things to Consider

Switching Advisors at Retirement – Things to Consider

As investors close in on retirement, it’s relatively common to consider changing advisors.  I often inquire when meeting a prospective client for the first time as to why they are considering making a change, and the answer usually falls within one of two categories:  (1) They question whether or not their advisor has the expertise necessary to get them through their retirement or  (2) Their advisor is roughly their age and likely considering retirement as well, so they understandably feel…

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What I’ve Been Reading – “Retirement Digest”

What I’ve Been Reading – “Retirement Digest”

I spend a lot of time reading articles, books, and whitepapers about all things retirement-related.  Basically, anything that can benefit a client at or nearing retirement.  I was recently asked by a couple of readers where I find all the articles I share on various social channels.  The answer is “all over the place.”  I subscribe to a ton of newsletters, avidly use google alerts and read articles/books recommended by industry colleagues and clients. Given the breadth of great resources…

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IRA Mistakes Retirees Make

IRA Mistakes Retirees Make

According to the Investment Company Institute as of March 31, 2018, there were approximately $9.2 trillion in IRA assets.  Given the sheer volume of Americans that own an IRA combined with the complicated IRS tax code that accompanies them, there are plenty of ways to trip yourself up when it comes to IRA planning throughout your life.   Though not surprisingly, the focus of this article will be the IRA mistakes I see most from folks that are at or nearing retirement…

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