Owning your own home is part of the American dream. But according to a recent Wall Street Journal article, owning a home is not always the best idea. Some Americans who cashed in on the $8,000 first-time home buyers credit before it expired in April 2010 got a bad deal. The credit pushed up sales [...]
Traditionally, conventional wisdom was that life insurance was generally not needed once you retired. This may or may not still hold true and will vary based upon your personal situation. Here are a few thoughts. As you near retirement, life insurance can be… An excellent estate-planning tool. If you have a large estate, life insurance [...]
When I was 18, I decided I needed a tattoo. Very original, I know. But I was determined. A friend of mine and I went to a new tattoo shop in our college town. I had a coupon for 10% from the local Penny Saver-type paper. In my defense, I was a broke college-kid. My [...]
Anyone who drives a car is keenly aware of the swift rise in the price of gas. This is largely a result of political uncertainty in the Middle East. What impact will the increase in oil and gas have on your portfolio? The answer varies. In some cases, you’ll see a direct positive impact on [...]
You probably already have a financial plan in place that includes an asset-allocation strategy. This strategy helps you control your portfolio’s risk via an allocation among different asset classes. However, your portfolio won’t stay within that allocation by itself. Different investments earn different rates of return, and over time your allocation will become unbalanced. Thus, [...]
There are three basic forms of financial adviser compensation: commissions, fee-based, and fee-only. Should the method of compensation make a difference to you? I (who am admittedly biased on the topic) say yes. Let’s examine each method. Commissions are pretty easy to understand. The adviser is compensated when he or she sells you a financial [...]
Over the years, my kids received savings bonds as gifts for various occasions. We held the bonds to maturity and recently turned over the money to the two oldest kids. In both cases, the extra money came in handy. For my oldest, it provided a bit of a cushion between her college graduation and the [...]
Do you need a 10 percent return in order to retire on time? I have clients who have a goal date for retirement. They want to have X amount of money put away to be able to retire by Y date. These retirement savers tend to focus on the rate of return, wanting to see [...]
There is no single right answer to this question. According to Boston-based attorney Danielle Van Ess, the general rule for reviewing one’s estate-planning documents is every three years. But she adds that, as with anything else, the right time for a review depends on your individual circumstances. Has your situation changed in any of [...]
What do you have planned for your retirement? Travel? More time with family? Hobbies? A new business venture? Encountering a large amount of debt as you enter retirement may shrink your options. Clients who are facing this obstacle come to me asking, “Should I use my retirement savings to pay off debt?” The short answer [...]
