With a nod toward Mr. Foxworthy, and full recognition that this list lacks any humor whatsoever: You might need a new Financial Advisor if: Individual stocks comprise a large percentage of your portfolio. The fees on the mutual funds you own average more than 30 basis points (3/10 of 1%). All of your mutual funds Read more about You Might Need a New Financial Advisor if …[…]
“One matter has become even clearer than before: The financial circumstances facing retirees differ dramatically from pre-retirees. For this reason, traditional wealth management approaches do not sufficiently address a retiree’s needs.”
“For active management to work, a manager doesn’t just need to be able to predict what will happen next, they need to know if it will be better or worse than what the market expected. Active management is like betting on sports – you can’t just pick who’s going to win, you need to be Read more about Occam’s Razor – One of the Most Successful Active Managers of all Time Shows Why Active Management Doesn’t Work[…]
“When most people think about investing, they’re thinking about stuff that doesn’t really matter. They’re caught up in the minutiae: What fund should I own? How fast did the iPhone 7 sell out (and are people really going to be okay with no headphone jack)? What sector is going to take off this fall? But Read more about The Most Important Investment Decision You’ll Ever Make[…]
“Rational strategies to spend from a volatile portfolio suggest that we spend more when our portfolio grows in proportion to our spending and life expectancy and demand that we spend less when it shrinks.”
This is a rather sobering view of the state of America’s “Retirement Readiness” by John Mauldin of Mauldin Economics. One-in-three Americans have absolutely $0 in retirement savings, and 87% of us have less than $300,000.