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Retirement Planning Advice

Grateful

By
Mark Nicolet, CFP®, MBA, ABFP™
March 3, 2020
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In almost every journal entry I write, I include, “I am grateful for…” and list three to four items from my day that reminded me of how grateful I am. Just last night my wife of 10 years, laughed out at loud as she noticed, I had written, “Popcorn” as I enjoyed a bag in the last minutes of the evening after putting our young boys to bed. It is the little things that make life grand, right?

In light of the deep gratitude I experience on a daily basis, here are 8 financial planning action items I’m grateful for. I know my clients feel the same way because of the significant impact these ideas have over time:

  1. Automatic monthly savings plans into investment accounts.

I am grateful because these plans create structure and commitment.

  1. The proper 401(k) allocation.

I am grateful to help align risk, time frames, performance, and cost with the fund options available.

  1. Roth IRAs and Roth 401(k)s.

I am grateful because we are in a historically low tax environment and Uncle Sam has already been paid.

  1. Intentional and proactive communication with an Advisor.

I am grateful to help eliminate inefficiencies and “leaking out the back door” with surplus cash flow.

  1. The right insurance solution.

I am grateful for financial reassurance.

  1. An understanding of where my current savings rate ends up at the end of the road.

I am grateful when I can provide clarity to planning so that my clients know what they are actually saving for.

  1. An outside, objective, fiduciary perspective.

I am grateful when a client calls asking about a refinance option, a car purchase, or stock options. Even though I don’t directly manage these decisions, they do have an impact on your financial plan.

  1. Non-retirement investment accounts earmarked for future priorities.

I am grateful when clients can save and grow their money, yet still have access to their funds for that next down payment, big trip, or redoing the kitchen.

Yes, I am grateful for buttery popcorn, but more importantly, I am grateful for the motivation and trust of my clients and business partners.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine what is appropriate for you, consult a qualified professional.

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CryptoChameleon

By Trilogy Financial
June 7, 2024

CryptoChameleon is a phishing-as-a-service kit that makes it easier than ever for cybercriminals to create convincing phishing campaigns. Criminals often use it to impersonate reputable companies to steal passwords, account information, and other sensitive data.

 

A recent scam using CryptoChameleon targets LastPass, a popular password manager. Scammers pretend to be from LastPass, starting with seemingly authentic support calls. They later send follow-up emails with links to fake login pages, designed to look like legitimate LastPass sites. Once victims enter their master passwords on these fraudulent pages, scammers can access their password vaults and potentially lock them out of their accounts.

 

Reputable companies will never ask for your master passwords through phone calls, emails, or text messages. To protect yourself from these scams, remember to:

 

  • Hang up immediately if you receive a suspicious call claiming to be from LastPass or another reputable company.
  • Do not press any options in automated messages or clicking on links in emails from unfamiliar sources.
  • Report suspicious activity to the reputable company, including screenshots of suspect text messages and forwarded emails.
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Investments AdviceLife Event AdviceLife Planning Advice

The Economy and the Election

By
Jeff Motske, CFP®
October 29, 2020
 

Today, conversations, screens, and ads on how the upcoming election will affect our economy and the American way of life are unavoidable. Naturally, we start to ponder how the outcome might impact our own financial independence. Since market forecasters and economic commentators ever really get it right only part of the time, formulating investment strategy based on “expert” prognostications and financial journalism routinely sets individual investors up for failure.

According to historical analysis, in 19 of the past 23 election years from 1928-2016, stock market returns were positive, no matter which party held office. In fact, during an election year, the S&P 500 has experienced an average return of 11.3%—data that demonstrably counters the stock market doom and gloom headline hysteria generated in the media.

While it is crucial not to be emotionally reactive, it is equally important to plan for economic changes that are realistically possible. Following an election, it is wise to assess how federal policies could impact your plan.

A few takeaways…

  1. Separate your personal politics from your investment decision-making.
  2. Remain calm and focused on your long-term plan: thoughtful planning plus sound decision-making matters.

During his First Inaugural Address, our 32nd President reminded the nation that “the only thing we have to fear is fear itself.” If not kept in check, fear becomes a catalyst for rash decision-making which can impede your path to financial freedom. As always, I am here to talk things through with you, to listen, and to assuage your fear; that’s my job.
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