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Tag Archives: Financial Planning

SPECIAL REPORT: The Definitive Guide to Medicare

There’s a common misconception that Medicare is a simple, automatic process when you turn 65. Nothing could be further from the truth. The responsibility to enroll is on your shoulders, and if you miss deadlines or don’t enroll in just the right way, you can incur penalties that will consume chunks of your retirement income for the rest of your life. Medicare is made up of Part A (Hospital Insurance), and Part B (Medical Insurance). There is generally no cost for Part A, but there is a...

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The Benefit of Working With a Fiduciary Adviser

What is a Fiduciary? You may have heard the term in recent times due to the ongoing debate about whether stockbrokers should be held to such a standard. Since doing so would make it harder for them to sell you things that pay them high commissions, peddlers of Wall Street’s wares are, as one might expect, opposed to this imposition. And so far, they’ve been successful in heading off any change to the current system that allows them to follow the self-imposed constraint of selling you only...

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5-Things Your Broker Will Ignore – Part 1

Investors mistakenly believe their financial partners are students of holistic financial planning. Outside of sell-side biased market information pumped out daily by an employer’s research department, there are several areas of study that many brokers would prefer to avoid. Worse are the practitioners who confidently communicate erroneous Medicare and Social Security advice which results in consumers leaving thousands of lifetime income dollars on the table. Then, there are the brokers who...

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Terminal Diagnosis Affects Social Security Timing

Knowing the various Social Security benefits available to you and the best time to claim those benefits can be a challenge. It requires research on your part, because many people are getting incorrect information from Social Security representatives, as noted in an audit by the Social Security Administration’s Office of the Inspector General. But how does the claiming of benefits change when a spouse is diagnosed as terminal? Social Security expert Mary Beth Franklin responded to the...

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It’s Time to Tell the Truth – Advisor or Broker

I’ve been telling you for a while that some people who bill themselves as financial advisors are really financial salespeople, which begs the question, “Are they really acting in your best interest?” Apparently, the federal government now agrees with me. It’s become popular for brokers to market themselves as financial advisors. They tell you they can help you with financial transactions as well as give you financial advice. The problem is, less than half of registered representatives are...

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When A Bond Bull Becomes A Raving Stock Bull

Over the last few years, I have continually battled the “bond bears” about calls for higher rates simply because rates were low.  Here is a short list of some of the more prominent calls for higher rates: Those are just a few, and certainly, there were many other calls for higher rates from every corner of Wall Street. One of the biggest issues with the predictions of rising 10-year bond yields, which started in earnest in 2013, is they have been consistently wrong. For a bit of history, you...

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The Most Important Trait To Look For In A Financial Advisor

Daniel R. Solin, a New York Times best-selling author who penned a series of popular books with the overarching theme of how to be the ‘smartest,’ with money, recently wrote an article where he shared what he believes is The One Trait That Predicts Advisor Success. Mr. Solin makes a convincing case for curiosity as the dominating trait that separates a great advisor from a marginal one. I agree curiosity is critical to success not only to prosper in a chosen vocation, but for success...

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F.I.R.E. – Ignited By The Bull, Extinguished By The Bear

Do you remember this commercial? The Etrade commercial aired during Super Bowl XLI in 2007. The following year, the financial crisis set in, markets plunged, and investors lost 50%, or more, of their wealth. However, this wasn’t the first time it happened. The same thing happened in late 1999. This commercial was aired 2-months shy of the beginning of the “Dot.com” bust as investors once again believed “investing was as easy as 1-2-3.” Why this trip down...

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How “FaceApp” Can Help You Save More For Retirement

FaceApp is taking over social media. It also may help procrastinators focus on long-term goals, like retirement. The face recognition smartphone application is available for free download; a Pro version is available for a fee. The features available in the free version are enough to motivate you to immediately (possibly dramatically), increase your retirement account contribution percentages. So, what is FaceApp? FaceApp is artificial intelligence facial software which allows users to change...

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