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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Bubble Predictions – July 2018

Bubble Predictions – July 2018

There is a perception that if news isn’t worth acting on, then it must be useless or a waste of time.  And there are a lot of advisors (I’ve been one of them) that have stated on more than one occasion that retirees might be better off if they turned off the news.  While I still generally believe that to be true due to our proclivity to act, it is a belief that has been actively evolving over the years. …

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A Letter to Grandparents

A Letter to Grandparents

In September, it will be four years since my grandfather passed away and I still think about him every single day.  He was my hero.  His presence in my life and the impact that he had on me will stay with me forever.  At his funeral, my brother and I were given the distinct honor of delivering the eulogy.  My sister and our cousin were on stage with us as we struggled through our words.  To say that he was loved…

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Will Social Security Still Be There When I Retire?

Will Social Security Still Be There When I Retire?

Social Security is a touchy subject.  Because of its political and emotional attachments, it also one of the more misunderstood areas of financial planning.  As I’ve watched the attitude toward Social Security evolve, retirees claiming benefits early seems to be a popular strategy due at least in part to the perceived insolvency of the program. “I’m going to get it while it’s still there.” is a popular refrain.  Many times, I hear retirees talking about Social Security in a similar…

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Should You Wait Until 70 for Social Security?

Should You Wait Until 70 for Social Security?

There are a lot of misconceptions about when to file for Social Security benefits.  Should you file as soon as possible, at 66 or wait until 70?  The truth is your answer is and should be unique to you.  What your neighbors or even your other family members are doing probably should not be considered in your decision.  My goal in this article isn’t to convince you to wait, but to help you see the potential value in waiting if…

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Retirees Underestimate the Impact of Longevity & Inflation

Retirees Underestimate the Impact of Longevity & Inflation

Take a second and think to yourself, how long do you think you will live?  I realize it’s a morose thought, but honestly what age do you think you’ll pass away?  You may consider your current health, your family history or a variety of other factors to make the estimation.  When I ask investors what age they believe they will live to, an overwhelming number of respondents estimate somewhere between their late 70s and early 80s.  Very rarely do I…

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Why I Advocate For Passive Investing For Clients

Why I Advocate For Passive Investing For Clients

Winston Churchill is often credited with the statement that democracy is the worst form of government, except for all the others that have been tried. This is a lot like how I view the whole active vs passive management debate because there is no perfect way in which to manage a portfolio.  But I believe there are significant guideposts to follow that can make the decision a little clearer.  There has been a lot of ink spilled over this single…

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Medicare: Almost Everything You Need to Know

Medicare: Almost Everything You Need to Know

As an advisor that specializes in working with retirees, it seems that some of the most commonly asked questions deal with the topic of Medicare.  How does it work?  When do I need to file?  What plan should I choose?  What does it cover?  What is it going to cost?  And so on.  So, instead of searching all over the web trying to find answers to these questions, I thought it would be helpful to provide all the answers in…

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