This morning I emailed a client’s grandsons with a few recommendations for blogs and podcasts to help them continue their interest and education in personal finance and investing; I sent them home the other day with a copy of The Almanack of Naval Ravikant, The Psychology of Money, and How I Invest My Money but wanted to make sure they…
With over 56 million Coinbase users and more than $223 billion in assets under management on the platform, there is a very good chance you have a cryptoasset account. And if you are a financial advisor reading this, there is an even better chance your clients have a crypotassets account that you do not know about. As bitcoin, ether, and…
Today was one of those days that remind financial advisors how personal our business really is. This morning I received a phone call informing me that one of my long-time clients had a massive heart attack and died on Tuesday. He was on an RV trip out west with his wife and friends–one minute he was taking a picture and…
On the latest episode of The Pursuit I discussed how the feeling of fear holds many of us back from reaching our goals or pursuing the life we really want. Once you’ve identified your feelings are the culprit, you can begin to break down the “thing” you are afraid of and move past it. At the risk of sounding like…
I’m finally getting around to reading How I Invest My Money by Josh Brown and Brian Portnoy—it’s a book about how financial professionals manage their money and financial plans. It’s filled with stories from some of my very close friends and I love to see my friends highlighted in such an amazing and important book. As I read a couple…
It’s year-end tax planning time… I’m sure you’ve heard of tax-loss harvesting—the process of selling investments in a taxable investment account at a loss to realize the loss and be able to offset future capital gains. Financial advisors and CPAs often recommend this strategy and robo-advisors will even take care of it for you. It’s a strategy worth exploring and…
You’re probably aware of the most common risks to a sound financial plan: Too much investment risk Too little savings Out of control debt Unexpected unemployment Disability Death Bad behavior (emotions lead to poor decisions) No financial plan I’m sure I’ve left a couple off, but this pretty much covers the main contributors to a failed financial plan. A Risk…
“Personal Finance Is More Personal Than Finance” – Tim Maurer A couple of weeks ago Morgan Housel joined The AGC™ for one of our weekly webinars. During the conversation, he shared what he called his “worst financial decision, yet his best money decision”. The short version of this decision is he and his wife aggressively paid off their mortgage. You…
In this week’s Breaking Down The Long Game, Thomas and I discuss living a purposeful life. “Purpose” has become a point of emphasis for RLS Wealth and our clients; I believe it’s not just good enough for us to help our clients get their finances in order and have a plan, but we should help them discover what they truly…
The future of financial planning, as I’ve shared before, is going to extend beyond crunching numbers for retirement. The future of financial planning is going to focus on helping clients align their finances with their values—and that future is here. This week’s visual, inspired by Jack Butcher at Visualize Value, illustrates the process of aligning your goals with your mission,…