Financial Folly or Just Bad Luck? Paul Fain, CFP® Let’s face it, we all make mistakes. What are some common financial planning mistakes? To name a few: Overspending. Underestimating life expectancy. Neglecting to develop an eldercare plan. Underestimating the impact of inflation. Buying annuities without understanding them. Underinsuring the risk of disability. Investing too conservatively…
What Is an Investment Anyway? Paul Fain, CFP® According to Investopedia, “An investment is an asset or item acquired with the goal of generating income or appreciation.” You can invest in a business, stocks, bonds, real estate, oil, cash, crops and more. Fundamental investments are oriented around ownership (stock), lending (bonds), and cash equivalents (money…
The Landscape of Retirement is Shifting Paul Fain, CFP® Life expectancy continues to rise, yet the COVID-19 pandemic accelerated many early retirements. The median retirement age is 62, but it is projected that two-thirds of people born today will live past age 80. Are we ready for a long retirement? The mind says “Yes!” but…
Retirement is a Big Transition, so Plan Accordingly | Paul Fain, CFP® It is one of life’s biggest transitions, retirement. The pandemic has scrambled the retirement plans of many people, accelerating retirement for some, delaying it for others. In any event, the topic should raise many quantitative and qualitative questions seeking answers: What is…
Simple Tax Considerations for 2020-2021 | Paul Fain, CFP® and Joe Ottaviano, CFP®, CKA® TAX CHANGES IN 2021? Maybe. One of the possible implications of a change in the White House is tax regulations. Americans, blue or red, are asking the same question: are my taxes going to change? Joe Biden’s victory could spell changes in…
Stay Calm and Prepare for Another Wave of Pandemic Panic | Paul Fain Election Day is over. The sun rose the following morning. The stock market did not crash. So our attention has turned back to the pandemic. A second wave of the virus is surging across the nation. To wit, I was hospitalized…
Hang in There, Things Will Get Better | Paul Fain Several weeks ago, I (virtually) attended the Vanguard Advisor Symposium. Sidebar: One of the unexpected silver linings to the COVID pandemic has been access to great meetings without the hassle and expense of air travel and hotels. The event kicked off with a presentation…
Risky Business | Suzanne Himes, CFP® Why do we talk so much about risk assessment? The financial markets are always reacting to a variety of global events and this volatility can be unnerving for individual investors, especially if investing without first understanding one’s personal risk profile. So, how do you begin to decide how much…
What Should I Do With My Money? It Depends… | Paul Fain, CFP® From the perspective of personal financial planning, the answer to many of life’s complexities is, “It depends.” Of course, we all prefer black and white answers to important questions. But “It depends” fails to give us any certainty of outcomes. Here are…
How Will the Presidential Election Impact My Financial Plan? | Paul Fain Consider these election headlines: “Should you hoard cash before the election?” “This election could help make or break your retirement.” “The nastiest election of our lifetime.” “A Trump win will tank the market.” Were these headlines published last week? No, they are all…