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.
Life-Stage Estate Planning
We’ve written before how a little strategic long-term thinking is good for your financial health. Tying in your personal financial goals with the goals for your investment portfolio helps you to stay the course when the course gets rocky. As with investments, being strategic with your estate plan is another best practice we encourage for our clients.
Six Affordable Habits of the Wealthy
While catching up on sleep may help your health, it would take a miracle to go to sleep earlier one night and wake up with a heap of cash at your bedside. While there’s no one secret or rule that will instantly make you rich, emulating some of the financial habits of the wealthy may help you follow in their fiscal footsteps.
Philosophy, Strategy and Discipline-Active View
“Luck plays a big role. Athletes, poets and businesses get lucky. Hard work is critical, a good team is essential, brains and determination are invaluable but luck may decide the outcome.” Phil Knight, Shoe Dog: A Memoir by the Creator of Nike. An investment philosophy is a set of principles that guides all portfolio decisions.
How Not to Be Wrong and Helicopter Money
Hopefully, everyone has been enjoying their summer. Here in Wisconsin, similar to the recent stock market increase in July, our temperatures have recently hit the high mark for the year-to-date. However, the path for both the temperature and investments has not been on a linear path. This newsletter addresses how these non-linear paths are important to be aware of. We see them in reviewing first half investment returns, in predicting future investment returns, and in reviewing future economic scenarios. Being aware of this concept can improve the investor experience and hopefully lessen anxiety along the way.
8 Myths of Financial Planning
In a month or so, America heads into the summer “vacation” season and it makes sense that people are busy planning their getaways. Having a financial plan is a lot like having a travel plan in that it identifies where you’re going, how and when you’ll get there, how much it’ll cost, and things to do along the way. Like planning a vacation, your financial plan can be loosely structured or highly detailed based on your individual needs. However, having no plan at all could leave you stranded in the middle of nowhere. A recent Household Financial Planning Survey conducted …
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