Is it a Christmas miracle? Did the financial forecasters get it right in 2021? Well, Santa should probably have given coal to most of the pundits and prognosticators. For instance, one of the largest banking institutions predicted a 5% return for the U.S. stock market...
financial planning
You are building your legacy right now
What does the term “legacy” mean to you? A few weeks ago, I had the honor of being a mentor at the Financial Planning Association’s Residency program. Working alongside five colleagues and training 28 resident students (newer financial planners), we pondered some of...
Rollercoaster markets don’t have to take you for a ride
It is Disney World’s 50th anniversary. If your investment portfolio was a Disney ride, what would it be? Maybe Mr. Toad’s Wild Ride or Space Mountain? Despite the bumpy ride, most every theme park ride ends up where it started. In the third quarter of 2021, U.S. stock...
Don’t let FOMO or a golfing buddy rule your investing decisions
Where do you get the financial information upon which you base your investment decisions? If we are being honest, the answer for many people is probably: a family member, a cable television show, or a magazine or newsletter. “Well Paul, you are wrong! I get my...
Feeling Pessimistic? Zoom Out.
The sky is falling! The world is coming unglued! We all feel this way at some point. I think most of us know, and are grateful for, the fact that life is much easier now for most people than it was for folks a century ago. But it’s easy to get bogged down by the...
Want results from your investments? Don’t get emotional
Famed investor Benjamin Graham once said, "The investor's chief problem, and even his worst enemy, is likely to be himself." DALBAR, a financial market research firm, conducts an annual study of investor behavior. With 25 years of data, the study’s conclusion is...
Here’s how to develop a gold-medal financial plan in 2021
This summer, I have taken up competitive swimming (for folks over age 50). As a rookie, I never realized how many components are involved in a gold-medal performance. For example, Olympic swimmers have excellent stroke technique, strength, endurance; as well as, great...
Investment Themes for the Next 10 Years
When is the best time to invest in the stock market? What about now? Are stocks too over-priced? One of the U.S. stock market’s measures of value, price-to-earnings ratio, is running high by historical standards (37 today vs. 17 historically). In other words,...
A Broken Record
As our children enter adulthood, we hope they remember all the conversations we had about personal finances. Many financial gurus have written about the principles of financial wellness in their how-to books. The five big ones we always return to with our children...
Retirement is a Big Transition, so Plan Accordingly
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...