A few families I’ve met with lately have seemed uncomfortable and even embarrassed as we talked about their situation. I see this a lot. Many people think that they are supposed to have a certain amount saved or have achieved some financial goal by a specific time. How much is enough to retire? Clients ask …
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What is the 5-year rule for Roth IRAs?
Roth IRAs have been with us for more than 20 years. That’s about as long as we’ve had Google, and the same amount of time since the last presidential impeachment hearings. Some things have changed a lot in that time, and some things are the same. The Roth IRA was an unusual idea when introduced …
Do I Have Too Much Stock in My Retirement?
Is it possible to have too much stock in your mix of retirement investments? A recent Fidelity Investments analysis suggests maybe so. Fidelity is one of the largest retirement plan custodians and its analysis looked at more than 30 million retirement accounts. The analysis found that more than 37 percent of Baby-Boomer-aged plan participants had …
Five Wealth-Destroying Habits to Avoid
Regular readers know that I expect the economy to slip into recession within the next 12 months. This is based on the expert analysis of veteran economists whom I trust. However, I’ve been thinking this for the last two years, and been proven wrong. It’s a reminder that none of us knows as much as …
10 ways the financial planning industry has changed
10 ways the financial planning industry has changed In recent years, the financial planning profession has changed a lot. Technically the profession is 50 years old, so you would expect some changes. But specifically, I’m thinking of all the changes I have seen since I started in the business in 2002. The financial advice business …
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Four truths about retirement
There are lots of ways to think about retirement, from excitement to dread to worry, to all of the above at various times. With my clients, I find it helpful to provide some wisdom that can guide their thinking as they approach this major life change. Here are four truths about retirement that I like …