When I first started as a financial advisor, having spent close to 30 years managing money for institutional investors, I thought that I just wanted to provide a financial plan for people without managing their money. That is, until I saw how people who reached out to me were invested, as I describe in this video. A financial plan is meaningless if you are invested entirely in cash or entirely in bitcoin! #financialplan #investingstrategy #trueAbundanceadvisors
You’ve probably heard that Roth IRAs are great for generating tax-free income and avoiding Required Minimum Distributions in retirement. and… Recent market losses make it a good year to consider a conversion so you minimize the taxes you pay on the money you convert. But the details matter a lot. And new laws mean conversions are permanent. I made a short video showing you how to decide if you should consider a Roth conversion this year.
I'm going to ask you an uncomfortable question: are you sure you have enough disability insurance to cover the gap between what you earn and what you would collect if you were to suffer a disability event? I share a cautionary tale about a friend in this video. Let me know if you have any questions, and I'd be happy to answer them.
My mother-in-law, who I love, is invested in a portfolio primarily of dividend paying stocks because she believes it is safer to live off the income generated by the dividends and interest income generated by her bond portfolio rather than dipping into and spending down the principal, that is, her investments, and I'm here to tell you that, frankly, I just don't agree with that. I believe a total return portfolio, that is, a portfolio that generates some income, but also is growing over time, is the better way to go. Find out why in this video!
To quote Peter Bernstein, an American economist, forecasts create the mirage that the future is knowable. The future is not knowable. There's just too much randomness in the world to know what's going to happen next. But there ARE things we can predict and control. P.S. If you know someone who could benefit from having a guide to lessen their anxiety during this market volatility, please share this video with them.
I get it. The stock market is volatile, and you're wondering whether to invest a lump sum, or invest in monthly increments, known as dollar cost averaging? I have two answers: one purely financial and one addressing the emotional aspects of investing. Which one is correct for you?