2018 Forecasts

Maggie Mayer Education Savings Planning, Estate Planning, Financial Planning, Portfolio Management, Retirement Planning, Tax Planning, Uncategorized

“The general is well aware that your division’s forecasts are worthless. However, they are required for planning purposes.” Kenneth Arrow, a Nobel Memorial Prize winner in 1972 who recently passed away in 2017, began his career in the Weather Division of the Army Air Force during World War II. His division was in charge of predicting future weather patterns. Given his economic and statistician background, he recommended to his general that his unit be disbanded because they were no better at predictions than historical averages for the day in question. As the quote above suggests, the division remained intact.

2017 Market Review

Maggie Mayer Education Savings Planning, Estate Planning, Financial Planning, Portfolio Management, Retirement Planning, Tax Planning, Uncategorized

At the beginning of 2017, a common view among money managers and analysts was that the financial markets would not repeat their strong returns from 2016. Many cited the uncertain global economy, political turmoil in the US, implementation of Brexit, conflicts in the Middle East, North Korea’s weapons buildup, and other factors. The global equity markets defied their predictions, with major equity indices in the US, developed ex-US, and emerging markets posting strong returns for the year.

Wish Lists

Maggie Mayer Education Savings Planning, Estate Planning, Financial Planning, Portfolio Management, Retirement Planning, Tax Planning, Uncategorized

It is the Christmas season and families are exchanging wish lists for Christmas. As a father of 11-year old twins, my view of Christmas lists has been evolving as my kids have been getting older. Gone are the days of Emily and I suggesting “appropriate” ideas that just happen to make it onto their lists each year. These were great experiences in expectation management. Now, they are more independent and less willing to listen to our advice.

Lessons on Behavioral Finance

Maggie Mayer Education Savings Planning, Estate Planning, Financial Planning, Portfolio Management, Retirement Planning, Tax Planning, Uncategorized

In honor of Richard Thaler, the recent winner of the Nobel Memorial Prize in Economic Sciences, we thought a discussion on behavior finance would be timely and relevant. This field of study has provided great insight on how to better manage personal finances. We would be well served to understand some of his great insights into human behavior.

Special Announcements

Maggie Mayer Uncategorized

We want to take a minute to inform you of two changes to the McCarthy Grittinger Financial Group team that occurred this year.

Our take on the Equifax cybersecurity incident

Maggie Mayer Uncategorized

On September 7, 2017, Equifax, one of the nation’s three major credit reporting agencies, announced what it describes as a “cybersecurity incident” involving consumer information affecting up to 143 million customers.