2018 Forecasts

Maggie Mayer Financial Planning, Portfolio Management, Retirement Planning

“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.

Life-Stage Estate Planning

Maggie Mayer Estate Planning, Financial Planning, Retirement 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

Maggie Mayer Financial Planning, Retirement Planning

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.

Start The Senior Living Conversation

Wp_Site_Admin Retirement Planning

It can be awkward, uncomfortable and even depressing to start a conversation with your parents or other elderly loved ones that centers on the fact that they may no longer be capable of living on their own. It’s hard to admit that someone who once cared for you may now need care themselves, and often seniors are not ready to accept this hard fact. However, senior living is above all a health and safety issue, and it’s important to prepare seniors for the next chapter in their lives, even if they’re not yet ready. Up to 75 percent of seniors …

The End of The 4 Percent Rule

Wp_Site_Admin Financial Planning, Retirement Planning

The "4 percent rule" was a retirement spending approach that became mainstream in the 1990s. The rule suggested that a retiree with an average portfolio distributed between stocks and bonds (approximately 60-40) should withdraw 4 percent of his or her retirement funds each year (adjusting each year for inflation). If the retiree could stay limited to that 4 percent, he or she would be able to fund retirement for at least 30 years. The simplicity of the 4 percent rule made it hugely popular with investors. The method made planning easy and was projected to leave the vast majority of ...

Congress Ends Two Advanced Social Security Strategies

Wp_Site_Admin Retirement Planning

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits and changes to the program are important to understand. This month's newsletter provides an explanation of recent changes. In November 2015, Congress passed a law that raised the national debt limit and prevented a government shutdown. The law included provisions that removed two Social Security filing statuses: "file-and-suspend" and "file-and-restrict." Read All