In my profession, every once and awhile you come across a situation that makes you sick to your stomach…I just had one. Despite the number of red flags in this situation, my intent is not to critique another advisor’s strategy–I won’t have to because the flaws with the strategy will be obvious. Instead, I want to stress the importance of making…
Category: Estate Planning
Organizing Your Financial Plan
Once you have your financial plan, it’s important to make sure the components of the plan, i.e. insurance documents, investment accounts, estate planning documents, etc., are organized. Sure, you may know where everything is located, but does your spouse? If someone else had to locate the components of your plan, could they? How difficult would it be? I recommend keeping…
Neglected Areas of Millennials’ Financial Plans
Quick, what’s the first topic you think of when you hear “Financial Advisor”? Investments? Retirement? It’s not uncommon to meet with a new client, and the first topic of conversation is the stock market, their investments, or something related to retirement planning. While I spend a significant part of my time analyzing investments and developing retirement plans, those are…
Before you start your newborn’s 529 plan…
If you and your spouse (or other parent) are no longer alive, who is going to take care of your newborn? Whoa! Not what you were expecting? The thought of not being able to watch my boys grow up makes me sick, and the thought of them growing up without my wife and me, is even worse. Unfortunately,…