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Tag Archives: financial risks

#FPC: Dave Ramsey Is Right & Very Wrong About Permanent Life Insurance (Pt. 2)

Last week’s piece was on why Dave Ramsey is right and wrong about permanent life insurance and some of the reasons you may consider using a permanent life insurance policy.  To reiterate last week’s sentiment-permanent life insurance is not for most, but if you: Max out your retirement savings Make too much to contribute to a Roth Have accumulated a large savings account Want to gain flexibility from taxes Want growth, but would like some protection from high valuations Have a large estate...

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6 Considerations for Long-Term Care Coverage.

Retirement is a a continuous road; mile markers that represent age may be visualized along the path. However, if one looks to retire at 67 and in relatively good health, it’s a challenge to comprehend what quality of life may be like at 80. It’s easy to understand how 40 may not look too different from 60 from a quality of health perspective. The stretch from 60 to 90 may be so dramatically different, it’s a challenge to envision. How does one contemplate their own increasing frailty? People...

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#FPC: Dave Ramsey Is Right & Very Wrong About Permanent Life Insurance (Pt. 1)

Let’s start with the basics, Dave Ramsey is great at a couple of things, budgeting, helping people get out of debt, prioritizing material things and/or putting things in perspective.  BUT… There are some things where good ole Dave isn’t so great. I know this is going to surprise many of you, but you need to hear this. DAVE RAMSEY IS NOT GOOD AT FINANCIAL PLANNING OR INVESTMENT ADVICE. Allow me to give you some additional context. Dave is good at helping people get out of debt and make...

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#FPC: 5-Things You Aren’t Being Told About HSA’s.

With the passage of the SECURE ACT and the death of the STRETCH IRA there has been a lot of noise about Health Savings Accounts or HSA’s for short. The role, or lack of, that people use a Health Savings Account as investment vehicles in their financial plans has been highly debatable, but not anymore. In 2020, we are finally seeing a shift in financial advice to find ways to put funds aside and avoid taxes altogether down the road. Health Savings Accounts are becoming common place now that...

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#FPC: What You Have In Common With Kobe Bryant & Chandler Parsons

As an advisor we are taken to task daily on the best way to keep clients informed and give them a holistic view of their financial situation. We must also do so in a way to ensure our clients not only listen but understand and when the situation is right implement action items discussed. Many times, these items aren’t exciting and they’re what we would call “fortifying your financial house”. Fortunately, for many we can fortify our financial house fairly easily, but it does require dealing...

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#FPC: New Advisors: Stop Doing These Two Things.

The higher stocks ride a glide path of zero volatility, the greater the risks for investors and their financial partners to fall victim to overconfidence. After all, we are human;  when it comes to money and emotions our brains are no smarter than a lizard’s.  As markets continue to be  hyper-fueled by unconventional monetary and fiscal policy in the form of tax cuts, it’s normal to suffer from chronic FOMO or Fear Of Missing Out. It feels like this charging bull is invincible.  You don’t...

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FPC: Do You Have A “Financial Vulnerability” Cushion?

REGISTER NOW for our most popular workshop: THE RIGHT LANE RETIREMENT CLASS The Westin Austin at the Domain- 11301 Domain Drive, Austin, TX 78758 February 8th from 9-11am. Everyone has heard of having emergency funds, but how many have heard of a financial vulnerability cushion (FVC)? Common, old rule of thumb financial rules typically dictate savings rates, but in times like we currently face should we be doing something different? I know, I know times are great. Markets are hitting...

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Rosso’s 2020 Reading List – Part II

“A reader lives a thousand lives before he dies… The man who never reads lives only one.” – George R.R. Martin. I’m not sure what I would do without books. On weekends, I can be found in antique stores searching out volumes written in many instances, over 100 years ago from authors most of us never knew existed. These treasures don’t cost much. The words are priceless. I find that absorbing fiction and self-improvement as well as financial or economic titles, fosters an ability to think...

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FPC: All The Numbers You Need To Know For 2020

REGISTER NOW for our most popular workshop: THE RIGHT LANE RETIREMENT CLASS The Westin Austin at the Domain- 11301 Domain Drive, Austin, TX 78758 February 8th from 9-11am. Hopefully you’ve had some time to reflect and grade yourself on your financial progress for 2019 and you’re ready to take 2020 by the horns. The new year brings new numbers to be aware of to ensure you’re taking advantage of all you can. There are many contribution limits, income limits and a vast array of numbers used in...

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Financial Planning Corner: A Change To RMD’s For Post-49’ers

Happy New Year from RIA Advisors Planning Corner! As we wind down the holiday season our focus begins to shift back toward wealth and health. This financial industry and retirees have been trying to figure out what the passage of the SECURE ACT means to them. We’ve spent some time on this over the last couple of weeks, but we keep getting one really important question from readers over the holidays. When do I have to take my Required Minimum Distribution aka RMD from my tax deferred...

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