How Should Trump’s Election Affect Your Financial Plan in 2017?
Since Trump’s election, a lot of people are wondering if their financial plan needs amending. The concern is warranted. The biggest theme underlying a Trump presidency is that we don’t know what to expect on so many fronts. Lots of things are still playing out. Information is still developing. When calculating probabilities based on complex […]
Read ArticleShould My Financial Planner or Advisor Charge Me a Fee on Uninvested Cash?
The answer to this question is not as simple as you might expect. Depending on the circumstances, the answer could be yes or no. I’ll help you understand those circumstances! What is the Difference Between Fee-Based, Commission-Based or Fee-Only? Critical to answering the question is an understanding of the difference between a fee-based advisor and […]
Read Article5 Lies Self-Directed Traders Tell You
We are living in the age of what I call the “Home Depot trader.” Online brokerages have essentially taken a page from the Home Depot marketing playbook by saying to the average Joe, “you can do it, and we can help.” The enormous gap in the capabilities of pros and novices has been narrowed as […]
Read Article10 Ways for Millennials to Live Frugally to Their First Million
Living “simply,” “below your means” or “frugally” is great advice that makes it into a lot of “wisdom lists,” especially those directed at Millennials. Of course, telling someone to “be frugal” is like telling them to “be smart.” It’s a start, but many people may need a few action steps. Here are a few specific […]
Read ArticleWhy Annuity Death Benefits are Trash: How to lose 50% in 7 years!
Fair warning: this is going to be a “blow your mind” article. Are you strapped in? Let’s talk about the classic “death benefit” on a variable annuity. Variable annuities are those weird investments that look suspiciously like just another cookie-cutter portfolio full of the high-cost mutual funds that brokers have the reputation of selling to […]
Read ArticleWhat do you think about trading Robots?
Are trading robots worth a look? I’ve heard there are “robots” that can trade options for me with incredible accuracy. What do you think about that? Let me guess, they promise very high accuracy and probably trade “binary options,” right? Unfortunately, this is a hotbed for scams. I’m going to hit the main point […]
Read ArticleAn Income Strategy that Won the Nobel Prize?!
Ever so often, a SPAM email makes it through my email filters. Ever have one with a subject so absurd you can’t help but click? *sigh* It happened to me… For a little background, I’m the kind of guy other financial advisors call a nerd. Even my home office looks like a NASA mission control […]
Read ArticleSecret Loopholes in Advisor Fiduciary Duty to Clients?
I got a call from a reporter this week asking if I thought there were any loopholes in the Department of Labor’s (DOL’s) supposed expansion of the “investment advice fiduciary” definition. I’ve written on this topic before, but it’s worth looking at from multiple angles. This is quite possibly the most important story of […]
Read ArticleWhy Should I Care About ETF Liquidity? A Case Study on NASH
I recently got a call from a reporter from the financial media asking my opinion on a certain ETF. To her surprise, my comments were much different than she’d heard from other advisors who were just regurgitating the interesting regional story behind the ETF. Basically, a sales pitch. The ETF in question, the Nashville Area […]
Read Article7 Deceptive Sales Practices to Watch for at Your Bank
Most people still feel having a local bank is a necessity, though many often express frustration to me about how the salespeople seem to jump them like sharks as soon as they walk in. The recent news of Wells Fargo employees being guilty of widespread illegal sales practices has naturally put many bank clients on […]
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