Updates

The “Senior Safe Act”

Financial exploitation of our senior citizens is a growing problem. To some extent, seniors are targeted because that’s where the money is. However, the decline of cognitive ability in the older population also may be a factor when scamsters consider whom to go after. Financial professionals—bankers, brokers, insurance agents, and trustees, such as us—are on […]

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Do I Need a Fiduciary? (Part IV)

Step #4 begins the process of portfolio allocation. Without going into great detail, the following is a simple overview of the three major asset classes. A review of the historical returns from each asset class along with the corresponding historical business cycles, debt cycles and inflation levels are useful to attempt realistic assumptions of future […]

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Wealth and Longevity

You don’t have to be rich to live a long life, but it helps.  Crain’s Wealth recently summarized several surveys on the subject.  Some of the takeaways: According to an AMA study, the richest 1% of women live more than 10 years longer than the poorest 1% of women. For the men, the difference is […]

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Do I Need a Fiduciary? (Part III)

After establishing and prioritizing the importance of well-defined goals, we will turn our attention to creating a personal financial statement and budgeting for attainment of current and future objectives. The next stage is an assessment of the types of savings and investment plans or accounts available. A primary difference among the account types available is […]

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New Perspectives on Revocable Living Trusts

One of the most useful and flexible wealth management tools is the revocable living trust, traditionally, we like to point to three basic benefits that these trusts offer. Professional asset management. After studying your goals and circumstances, our asset-management specialists will map out a diversified investment program appropriate to your requirements. Our objective is not […]

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Do I Need a Fiduciary? (Part II)

The series continues this week with a dive into the details. After establishing the broad outline of goals in step #1 of last week’s update, it is time to begin adding the detail. Priorities ranging from required to desired must be assigned to each goal. Each goal will land somewhere on this spectrum and its […]

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Missed the Deadline?

The IRS has released some tax tips for anyone who hasn’t yet filed a 2017 tax return. The due date was extended to April 18th after technical snafus at the IRS in accepting e-filings. • If a refund is due, there will be no penalty for the late filing. • The IRS Free File online […]

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Do I Need a Fiduciary?

Last week, we wrote about the Fiduciary Rule and the need for improved regulation. In our view, increased transparency would solve much of the confusion. Consumers should have the freedom to choose the type of service which best meets their needs. This freedom, however, requires consumers be fully informed about the issues involved in organizing […]

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Planning for Single Seniors

More and more seniors are finding themselves alone and without nearby relatives to help them with financial management. Persons in this situation will need to find an alternative – friends or professionals who can fulfill the roles that might otherwise be handled by family members. Delegated Powers For seniors, the most vexing problems are associated […]

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