General info

10 Posts in this category
Posted By: CFP&WM On: Oct 23rd, 2009 In: Financial planning General info Retirement planning

Social Security Beneficiaries May Get Double Whammy

Social Security beneficiaries usually see their monthly benefits increase once a year, based on the cost of living escalators. These have usually been in the range of 1-4% per year. That could change in the next 3 years.

With the current state of the economy, the Congressional Budget Office projects an actual decline in consumer price indexes and expects no …

Posted By: CFP&WM On: Jul 27th, 2009 In: Financial planning General info My soap box

Consumers would benefit if we call “A Spade a Spade”

76% of those surveyed did not know the difference between a sales representative of a Broker Dealer and that of a Registered Investment Advisor. The reason is the term “financial advisor’ is often utilized by stockbrokers, insurance agents and others who are looking to sell you a product.

A “broker dealer representative” is a salesman of stocks, bonds and mutual …

Posted By: CFP&WM On: Jul 8th, 2009 In: Financial planning General info Investing Retirement planning

NAPFA Launches Consumer Education Series to Help Americans Better Understand Personal Financial Issues

The National Association of Personal Financial Advisors (NAPFA), the country’s leading professional association of Fee-Only financial advisors, is gearing up to further educate people on a variety of topics in an effort to help Americans become educated consumers of financial planning advice and products.

The Consumer Webinar Series is a year-long initiative beginning August 7, 2009 that will provide an

Posted By: CFP&WM On: Jul 8th, 2009 In: General info Investing My soap box

Research Confirms: Now is a Time to be Investing

Recent research shows that investors who begin investing during bear markets do better over the long run than investors who begin in bull markets.  T. Rowe looked at four different thirty-year periods, two of which that started with bear markets (1929 and 1970) and two that began with bull markets (1950 and 1979). They looked at the difference in the

Posted By: CFP&WM On: Jul 8th, 2009 In: General info Investing My soap box

If you Invest There is One Thing You Gotta Know

If you don’t know anything else about investing, the one thing that is paramount to know is the different legal safeguards and standards of care depending upon from whom you receive your financial advice.

You have three options for receiving investment advice:

1) Registered Investment Advisor (RIA). According to state and federal law anyone providing financial advice for a fee …

Posted By: CFP&WM On: Jul 8th, 2009 In: Financial planning General info My soap box

What is Financial Planning?

Financial planning is the process of helping you to obtain your goals in life by making better decisions in the management of your finances. Everyone has different goals therefore everyone’s financial plan will differ. However, the process of financial planning is always the same and will include:

1. Defining your goals both short-term and long-term

2. Gathering the necessary information

Posted By: CFP&WM On: Jun 24th, 2009 In: Beware - Horror stories General info Investing My soap box

Reasons to Avoid Financial Advice At a Bank

In the good old days a bank was a bank. It was where you deposited your paycheck, had a savings account and got a car loan. Laws were changed (due to heavy lobbying by the banks) to allow them to sell investment and insurance.

Most banks now have a subsidiary company/partner that is a Broker Dealer (BD) and the financial …

Posted By: CFP&WM On: May 28th, 2009 In: Financial planning General info Investing My soap box

Bank of America is at it again!

A client recently called me and was shocked that the annual interest rate on the money market sweep account at Bank of America Investment Services is currently at 0% interest. Most other money markets are currently paying less than 1% interest.

Banks, and credit unions and mutual fund companies offer money market accounts.  These accounts consist of very short-term debt …

Posted By: CFP&WM On: May 22nd, 2009 In: Beware - Horror stories General info My soap box

Suze Orman: The Good, the Bad, But the Never Ugly

Okay, so I modified the title of a Clint Eastwood movie, but it sort of fits.

Her books are top sellers, she is often on TV, she markets “kits” to help, and she is seemingly everywhere so we all know that she is an attractive lady (certainly never ugly). 

Everyone knows Suze Orman but many do not know her background. …

Posted By: CFP&WM On: May 20th, 2009 In: Financial planning General info

10 Tips for Retirees in These Difficult Times

The recent economic changes impact everyone and particularly those who are retired. Whether it is a drop in value of your retirement account or decrease in interest rates at the banks, everyone has noticed.

The question is what can retirees do now? Some things are fairly obvious, such as delaying a vacation or just spending less on trips.  Putting off …