CARES Act Highlights This has certainly been a very busy and tumultuous few weeks. Many economists and finance gurus’ opinions vary greatly from we may have a mild recession for just a couple of quarters, to deep recession, or possible depression. The truth is nobody knows. A lot depends on how long the current lockdown
Financial Planning Articles
Understanding Financial Advisor Compensation Models How to Find an Advisor That’s Best for You If there ever was a confusing profession to the public, a Financial Advisor compensation would have to be near the top of the list. With a dizzying array of designations, it’s almost impossible to distinguish one Advisor from another. Even those
I often get asked why I don’t have client testimonials on my website. The answer is that a fiduciary is not allowed to post testimonials on their website according to SEC rules. As a fiduciary, we must meet the legal requirements established by the SEC or face stiff repercussions. In the case of testimonials, it’s
Continuous Financial Planning It’s more critical then ever to have continuous financial planning. Life situations change quickly and so do your financial projections. Even if we have an Initial Financial Plan, as I like to call it, it takes a tremendous amount of work to Execute and Monitor that plan. And then when LIFE happens,
Preparing for financial planning is like planning for a long vacation. You make your lists, pack everything perfectly and finally after some time you are ready to start your journey. Except that you forgot a few key items. Now you need to go back and make more room in your suitcase. Arghh! What a pain
Building wealth is easier and more fun during booming stock markets, as many of us have experienced recently, compared to the challenges of bear markets. Many of us remember the various market corrections over the decades that turned our 401(k)’s into 201(k)’s. Maintaining respectable growth during the boom times while minimizing the downside risk during
New and powerful financial planning software can help you navigate the myriad of retirement decisions, most of which are irreversible. Don’t Plan Your Retirement Like a Road Trip Vacation We’ve all been on the proverbial road trip heading somewhere you’ve never been and all of a sudden, you’re faced with a fork in the road.
If you’re like me, getting from point A to point B requires a plan or a roadmap. I was taught a long time ago that if a plan isn’t written, it probably doesn’t exist. Shooting from the hip may work in some instances, but in critical areas such as one’s personal finances, I’d rather have
One of the most talked about items in the financial industry today is what is a fiduciary and what questions should a client ask their financial advisor. Here is a 2-min video that captures the essence of fee-only, fiduciary, and independent: This video should help you formulate some questions that you can ask your advisor.
After about 5 years under development, the Department of Labor released its long-awaited fiduciary rule, which extends the fiduciary standard to those who advise clients on individual retirement accounts, 401(k) assets and other qualified retirement savings. Registered investment advisor (RIA) firms, such as Garrett Investment Advisors, have always been subject to a fiduciary standard under