Tagged with Financial Planning

HOW TO MAKE A GOOD DECISION WHEN LIFE THROWS YOU A TOUGH CHOICE

HOW TO MAKE A GOOD DECISION WHEN LIFE THROWS YOU A TOUGH CHOICE

No matter how thorough our planning is, life inevitably tosses curve balls at us. Often these challenging moments are linked to major life transitions that affect our families, our careers, and our money. Balancing these variables can make arriving at the best decision that much more complicated. Snap decisions are usually the least effective in … Continue reading

IS YOUR MONEY HELPING YOU LIVE A BETTER LIFE?

IS YOUR MONEY HELPING YOU LIVE A BETTER LIFE?

A hamster in a wheel. Have you ever watched a hamster running in a wheel? All that running, all that effort, day after day after day … But the poor little critter never really gets anywhere. Many of us feel the same way about our money. More specifically, we feel that way about the work we … Continue reading

REFLECTIONS

REFLECTIONS

As 2017 comes to an end, I have been thinking about what I have learned in my over 30 years as a financial planner.  I have been fortunate enough to have been through some severe downturns in the markets and have managed to learn a few things.  As I, and my clients get older, I … Continue reading

WHEN DOES A 4% RATE OF RETURN EQUAL 1.5%?

WHEN DOES A 4% RATE OF RETURN EQUAL 1.5%?

The answer is when you are in retirement.  I talk to lots of people who are entering retirement and the one thing I try to stress is that it is a different ballgame and requires different strategies for managing your wealth.  The objective typically changes from one of growing your money to one of preserving … Continue reading

DON’T BE FINANCIAL PREY

DON’T BE FINANCIAL PREY

In recent weeks, I have had several conversations with clients that have received solicitations from unscrupulous financial firms. Due to SEC regulations, high pressure sales tactics may not be used as widely in finance as they once were, but that doesn’t mean that unscrupulous financial professionals don’t exist. It pains me to see how much … Continue reading

WILL THE OUTCOME OF THE PRESIDENTIAL ELECTION AFFECT ME?

WILL THE OUTCOME OF THE PRESIDENTIAL ELECTION AFFECT ME?

Lately, I have received a lot of questions from clients regarding the presidential election and how it will affect their portfolios. No one can accurately answer this question, but what I can say is that if good government was required for people to be financially successful, we would all be broke.  I feel for clients … Continue reading

TAKE ACTION ON WHAT YOU CAN CONTROL

TAKE ACTION ON WHAT YOU CAN CONTROL

I have often noticed that people spend valuable time worrying about things they cannot control.  In the financial arena this includes trying to predict what the stock market is going to do in the next day, week or year, how fast China will be growing, what interest rates will do, what the price of oil … Continue reading

IS HIRING A FINANCIAL PLANNER WORTH THE MONEY?

IS HIRING A FINANCIAL PLANNER WORTH THE MONEY?

I will start off by confessing that being a financial advisor, I am not completely unbiased when writing this.  With that said, the short answer to the above question is YES.  That is, if you hire a trustworthy advisor that knows what they are doing.  Personally, I am a value guy.  I am more concerned … Continue reading

WANT A SUREFIRE WAY TO MAKE YOUR MONEY LAST LONGER IN RETIREMENT?

WANT A SUREFIRE WAY TO MAKE YOUR MONEY LAST LONGER IN RETIREMENT?

Reduce taxes.  Most retirees admit that they did a poor job proactively managing taxes both before and throughout retirement.  In my experience, clients are not getting the advice they need in this important area of their financial lives.  At Innovative Wealth Strategists, we concentrate on tax planning heavily because we know how important it is … Continue reading

YOU ARE HARDWIRED TO MAKE BAD FINANCIAL DECISIONS

YOU ARE HARDWIRED TO MAKE BAD FINANCIAL DECISIONS

Given my perception that the stock market is approaching overvaluation, I thought it would be a good time to review some of the weaknesses that we as humans struggle with when making financial decisions.  Sociologists and psychologists have studied human behavior in financial markets and have come up with some interesting conclusions. When it comes … Continue reading

HOW TO VET A FINANCIAL ADVISOR

HOW TO VET A FINANCIAL ADVISOR

I have worked in the financial services industry for over 30 years.  What I have learned is that it is very difficult for the typical consumer to distinguish between a good financial advisor and a bad one. A bad financial advisor could cost you hundreds of thousands of dollars over the course of your relationship.  … Continue reading

THE COST OF WAITING

THE COST OF WAITING

In today’s busy world, people often are reacting to things that are urgent but not necessarily vital.  One of those vital areas is retirement planning.  We meet people every day that are within 5 years of retirement and still putting off planning.  I believe they do this because they think there is very little to … Continue reading

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