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If You Don’t Have a Plan the Government Has One for You

According to a recent study by just 40% of U.S. adults have a will (including only 36% of U.S. adults who have children under the age of 18). What’s more only 53% of U.S. adults have a healthcare power of attorney (“POA”). What’s the big deal? Without a will or similar trust agreement decisions [...]

More “Fair Share” BS

On January 10th California Governor Jerry Brown proposed a whopping $179.5 billion (yes, that’s a “B”) budget. State revenues are projected to fall short by $1.6 billion. The culprit? All those greedy millionaires and billionaires who refuse to pay their “fair share.” According to the most recent data (2014) the top 10% of the state’s [...]

Brokers Market Themselves as “Advisors” to the Public But “Sales Reps” to the Department of Labor

Many brokerage firms and insurance companies speak from both sides of their mouths. Surprised? We shouldn’t be. The marketing departments of these firms promote the idea that employees are trusted advisors providing personalized investment advice. Conversely in an attempt to avoid complying with the upcoming fiduciary rule (i.e. doing what’s in the best interest of [...]

ROR of Average Investor Trails Major Benchmarks

The typical investor is almost always his/her own worst enemy. Overconfidence, behavioral biases and emotional decisions conspire to ensure investment returns trail not only most major asset classes but even inflation. Consider the ROR of the average investor over the past 20 years: 2 SOURCES: JPMorgan Asset Management, Barclays, FactSet, S&P, Dalbar. 60/40 and 40/60 [...]