THE TAX DRAIN

THE TAX DRAIN

I wanted to officially congratulate everyone for making it through another tax season.  We are now in financial freedom territory.  This means you get to keep what you earn versus it going to the government.  If you live in California, “Tax Freedom Day” was April 27th.  That means up until April, 27th, all your earnings … Continue reading

TENNIS, DR. LAURA, AND…INVESTING

TENNIS, DR. LAURA, AND…INVESTING

As many of you already know, I am an avid tennis player and play almost every day.  I just returned from the Indian Wells BNP Paribas Open, one of the premier tennis events in the world. I was able to see some of the best tennis players in the world compete. Sitting there, I couldn’t … Continue reading

THE END OF THE WORLD

THE END OF THE WORLD

I have been getting calls clients about rumors and e-mails predicting certain disasters.  Many people listen to the media and are convinced that we are in a financial situation where the world will go through a massive global recession the likes of which we have never seen before.  Some are also concerned that the purchasing … Continue reading

TAKE CARE OF THE BASICS FIRST

TAKE CARE OF THE BASICS FIRST

If you have read any of my writing, you know I am big on taking care of the basics.  I believe in fundamentals.  That is why I like the movie Karate Kid so much.  Daniel-san was mentored by Mr. Miyagi who helped him learn the fundamentals that carried him a long way.  The same is … Continue reading

AVOID THE NOISE

AVOID THE NOISE

One of the biggest mistakes investors make is to get caught up in the day-to-day news and the plethora of economic data they are bombarded with through the media network.  This causes investors to be increasingly focused on short-term performance.  In my opinion, this is to their detriment.  The more frequently one checks their investment performance, … Continue reading

SOCIAL SECURITY MISTAKES RETIREES MAKE

I have noticed that most retirees have very little counsel as it relates to maximizing a very important retirement asset, their Social Security benefits.  Many people believe that once they hit age 62, they should immediately begin receiving Social Security benefits.  This can be a huge mistake and cost your family hundreds of thousands of … Continue reading

WILL YOU OUTLIVE YOUR MONEY?

As people enter retirement, the above question weighs on them. Most, if answering honestly, would say, “I am not sure”.  Some of the factors that influence the outcome are:  How long you are going to live?  What will inflation be?  How are your assets allocated and how much of your earnings do you get to … Continue reading

ARE YOU A VICTIM?

It seems in vogue today to blame everyone other than yourselves for your financial woes.  People are bellyaching about mortgages they were duped into taking out as well as college loans.  The attached New York Times article talks about how deceptive schools are in presenting financial aid packages to parents and students.  It is my … Continue reading

KEEPING WHAT YOU MAKE, A TAXING ISSUE

With April 17th right around the corner, many people have taxes on their mind. What people don’t realize is that we are in one of the lowest tax rate environments that has ever existed. The top tax rate for an individual is currently at 35%. The capital gains rate is at 15%. To give you … Continue reading

ELDER & LONG TERM CARE EDUCATIONAL PRESENTATION- February 21, 2012

On February 21, at Innovative Wealth Strategists, we held a focus group entitled “Paying for Care”.  We had a good turnout and everyone enjoyed the food, wine, and the opportunity to ask questions about their personal situations.  I started the evening talking about long term care costs which generally range from $3,000-$8,000 a month depending … Continue reading

THE LONG TERM CARE RISK

THE LONG TERM CARE RISK

As a financial planner, one of my main focuses is on risk management.  Long term care is a major risk that could cost anywhere from $100,000 to over $1M per person over the life of a long term care event.  Chances are pretty high that you will need some type of long term care during … Continue reading

A TAXING TIME

A TAXING TIME

Tax rates are at historical lows with capital gains rates at 15% and ordinary income tax rates at 10-35%.  What a lot of people don’t realize is that in times past, capital gains rates have been as high as 77% with the top ordinary income tax rate as high as 94%.  Add to this estate taxes … Continue reading

MASTER THE FUNDAMENTALS

MASTER THE FUNDAMENTALS

I love the original Karate Kid movie where Daniel-san wins the tournament.  My view of why he won the tournament is because he focused his energy on the things he could control and mastered the fundamentals first.  In sports and in wealth management, I see too many people focusing on the fringe areas and not … Continue reading