There’s a tug of war between our hearts and minds in making investment decisions. When emotions win—as they often do—we become our own worst enemies and underperform the broader market. According to DALBAR research, one of the single biggest variables in investment performance is investor behavior. It’s primarily responsible for the continual underperformance of the
Retirement
By Leslie Hunter-Gadsden, Next Avenue The pandemic has motivated many people to reconsider their career paths. For Patricia Wynn, a single, 52-year-old in Hillsborough, N.C., it meant being open to the possibility of becoming an entrepreneur. “I spent twenty-six years at McDonald’s MCD in Atlanta, rising up the ranks to become general manager. Then in 2015,
As a financial adviser with an 86 year old mother, who I helped deal with her older sister’s affairs in 2015, I’m acutely aware of the women’s retirement crisis. I also always remember listening to Sallie Krawcheck on Morning Joe, in April of that year. Sally highlighted the fact that the face of nursing homes was
Deputy Gov. Dan Hynes, 2019, in a Chicago Tonight appearance (as discussed in a prior article): “We need to look at the funding schedule that was put in place 25 years ago, that at the time thought we would be spending about $4 billion on pensions and now it’s asking us to put $9 billion
Congress reacted to the massive economic turmoil brought on by the pandemic with a series of large-scale interventions. Those helped boost wealth for all households. Lower-income and middle-income households dipped into their savings sooner than higher-income ones to pay their bills. The difference in financial emergencies and needs contributed to a renewed increase in wealth
The economy faces another winter of massive uncertainty. The pandemic rages on around the globe and a new coronavirus variant raises the specter of the health crisis getting much worse. Countering that uncertainty will require more business investments, among other things, that will strengthen the momentum of faster growth that carried the economy through the
One of the biggest benefits of self-directed IRAs (SDIRAs) is the ability to diversify your portfolio by investing in alternative assets. These include real estate, precious metals, private equity and more. One alternative asset class that is becoming more popular is private debt. STRATA’s 2021 investor survey report unveiled 13% of investors leveraged private debt
A walk around the block is good. A little more going up and down stairs is too. But some older women just might get you thinking there’s much more to healthy aging than that. In San Diego, CA, there is a women’s basketball team that competes and plays hard. “We play to win” they say.
The Covid-19 pandemic caused many people to re-assess their values and priorities. This accelerated a trend in which people wonder if there is something more than money and property they can leave when putting together their estate plans. You can leave valuable items other than wealth and assets, and more and more people are adding
Trusts are highly effective wealth management vehicles that can facilitate the transfer of wealth between generations and help individuals, families and business owners meet a range of estate and tax planning goals. One of the most fundamental and essential decisions for individuals and families looking to establish a trust is choosing the state where the trust
Who is Facebook international man of mystery Robert Parkle and why is he advising Ohio Public Employees Retirement System stakeholders not to follow through with an expert forensic investigation of their state pension? Why did Kasandra Ward from Aurora, Colorado create a fraudulent OPERS Forensic Investigation GoFundMe page apparently to divert funds from the real project?
It’s already been done. Or at least, depending on your point of view. Here’s the scoop: The Earned Income Tax Credit is a federal benefit paid to low-income workers, with benefits varying by family size. Unlike SNAP/food stamps and similar benefits, it is intended as a work incentive by paying benefits only to the working
Today’s Social Security column addresses questions about how suspending a benefit taken at 62 while working more might have on benefit rates, filing for spousal benefits after taking retirement benefits and whether to take benefits early when children are part of the equation. Larry Kotlikoff is a Professor of Economics at Boston University and the
In 2014, Rep. John Larson introduced for the first time a bill called the Social Security 2100 Act, which consisted of seven provisions intended to boost Social Security’s benefits and revenues, with revenue increases intended to be sufficient to remedy forecasted shortfalls and fund the benefit increases, and with confirmation of such by the Social
November and December are the months when most people gather with family. You may have traditions that go back to your childhood, involving where you gather, what you cook, how you treat one another, etc. And, hopefully, you look forward to these family holiday get-togethers. Holiday gatherings in 2021 may be especially meaningful to you
By Chris Farrell, Next Avenue An email I received from Caryn Lindsay of St. Paul, Minn., grabbed my attention because her story, sadly, is all too common these days. Lindsay, who’s 58 and single, was worried that she’ll need to dig further into her retirement funds and remain on Medicaid when her unemployment benefits run out.
The Economist recently insisted that the “employment of older workers is vital if prosperity is to be maintained.” But as much as pundits insist work in old age is vital, meaningful, and fulfilling, the truth is that many of the jobs older people find themselves in sap their vitality and are hardly rewarding. In 2020,
With talks of major long-term changes to retirement planning as part of the potential tax reform legislation, it’s a great time to start thinking about Roth IRA conversions. As 2021 comes to a close, you might be considering Roth conversions as part of your end-of-year planning, especially in light of the historic low tax rates
Over more than three decades as a wealth advisor, business owner and coach, I’ve talked a lot about the value of saying “no.” That’s because the ability to say no to time wasters and activities that distract from your core purpose, or things that are not aligned with your values, helps to open doors to
Although this is supposed to be a “wonderful time of the year”, it’s not always so. It can turn sour for some families when they are together. Old habits trigger disputes. Simmering conflicts explode. Aging parents can get cranky and difficult. Not everyone is aware of how their own actions create disconnection rather than a
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