While speaking with a cardiologist recently, my eyes were opened to the “Simple, but not Easy” strategy being applied in the medical profession. We communicate frequently about the importance of this strategy in personal finance so it was fascinating to see it play out in another profession. I thought it would be helpful to share this experience (Don’t worry, no one was hurt in this process!).
The Importance of Personal Umbrella Policies
Wealth protection is an important part of our wealth management process that aims to protect your assets against potential creditors and litigants, as well as protect against catastrophic loss. What would happen if you or your child caused a car accident that resulted in serious injuries or the deaths of others? How would you pay for the treatment and damages of someone who was hurt in your home and claimed negligence? What happens when they claim to have suffered greatly because of the injury?
Why Should You Diversify?
As 2019 approaches, and with US stocks outperforming non-US stocks in recent years, some investors have again turned their attention towards the role that global diversification plays in their portfolios.
Recent Market Volatility
From September 30–October 10, the US market (as measured by the Russell 3000 Index) fell 4.8%, resulting in many investors wondering what the future holds and if they should make changes to their portfolios. While it may be difficult to remain calm during a substantial market decline, it is important to remember that volatility is a normal part of investing.
Tuning out the Noise
If you are feeling uneasy about your investment performance during these periods of volatile market activity, watch this video, “Tuning Out the Noise”, to help remind you of the importance of remaining disciplined during uncertain times.
Now and Then
Markets have been up and down this year, which can be hard for many investors to live with. During periods like these, hearing stories about how other people deal with uncertainty can be helpful.
2018 Forecasts
“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.
Tax Cuts and Job Act
Summary information related to the recent Tax Law changes.
Late Innings of Tax Reform
As we begin the final two calendar months of the year, individuals and families start to wrap up their financial year.
Our take on the Equifax cybersecurity incident
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.
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