Financial “advice” is the latest area where technology seeks to strip humans of personal responsibility – to free us of the “burden” of thinking for ourselves. (Wait, doesn’t government already do that for us?) These so-called “robo advisors” are investment programs constructed through algorithms. Human involvement is not part of the package. The Department of [...]
Next week as part of his final budget request President Obama will propose a $10/barrel charge on oil. The fee would be paid by oil companies which of course means it will be paid by consumers as surely the oil companies will pass along the cost to end users. The fee’s purported goal is thievery [...]
Want to make smart financial choices? Then it’s imperative to be mentally strong. A quick reminder on the things mentally strong people do (and don’t) in working towards their goals.
What’s one way so many retail investors sabotage their savings plans? Recency bias. It’s that ugly state of mind where views are most heavily influenced by what we have experienced most recently. It impedes our ability to see the big picture. We lie to ourselves if we think we’re immune. “How did my investments perform [...]
There's too much info and we lack the patience to analyze it. Is it any wonder we often make foolish, impulsive, emotionally-driven decisions?
The market’s up. The market’s down. The market’s up. The market’s down. What the ____ is going on? I need to do something. Help!!!!! Is market volatility driving you crazy? Here are some tips to deal with it: 1) Turn off the news Financial media has no interest in helping you or being your friend. [...]
It’s nice to see Hillary Clinton pandering once more . . . or does she really believe tax, redistribute and spend will actually grow the pie and kick start the economy? Speaking at an organizing event in Waterloo, Iowa, the Democratic frontrunner railed against all those evil / unethical / immoral people of wealth. "It’s [...]
First the good news... The recently enacted Consolidated Appropriations Act of 2016 includes a subsection that eliminates the state residency requirement for Achieving a Better Life Experience (“ABLE”) accounts. ABLEs are tax-free accounts (similar to §529 qualified tuition plans) that allow individuals who become disabled before reaching the age of 26 to pay for certain [...]
“If you wait by the river long enough, the bodies of your enemies will float by.” -Sun Tzu The humorously sad side of being in the wealth management business is having listened through the years to the people who want to ignore solid advice and strategies in favor of blindly following the fakakta theories of [...]