Changing Retirement Expectations

by | Jan 15, 2021 | Retirement

Over the past several years, many Americans have begun to question their ability to prepare for a financially secure retirement.  This awareness now begs the question, how will pre-retirees adjust their retirement expectations to match their economic realities?

The Retirement Confidence Survey (RCS) is the longest-running annual retirement survey of its kind in the United States.  It gauges the views, experiences, and attitudes of Americans regarding retirement preparation and related issues.  Results of a recent survey shed some light on how workers expect to adjust their retirement plans and expectations. (more…)

Reframing the Social Security Claiming Decision for Married Couples

by | Jan 1, 2021 | Retirement

By Jeffrey Levine, CPA/PFS, CFP®️, AIF®️, CWS®️

For many, correctly answering the question, “When should I begin to take my Social Security benefits?” is a critical step toward making sure their retirement income and savings last at least as long as they do. For others, who perhaps are lucky enough to have accumulated a more substantial nest-egg, the decision may have less of an impact on their ultimate chances of a “successful” retirement (as they may have enough income and/or other assets to overcome a poor choice). But let’s face it … nobody wants to leave Social Security dollars on the table because of a less-than-ideal claiming decision. (more…)

Code Name: Monte Carlo

by | Dec 25, 2020 | Investing long-term

By Sheldon P. McFarland

What do you get when you assemble a dozen or so of nuclear science’s greatest minds, give them access to the world’s first electronic general-purpose digital computer, and spend $2 billion during the height of World War II? An atomic bomb of course, and a sophisticated simulation technique code-named Monte Carlo. Monte Carlo simulation was developed by scientists working on the Manhattan Project to predict the explosive behavior of the various atomic weapons they were constructing. Since then, researchers have successfully applied it to a vast number of scientific problems. Today, and many evolutions later, we use it to model the validity of your financial life plan.

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A Successful Small Business Start-Up

by | Dec 18, 2020 | Entrepreneurs

Small businesses are the backbone of this country. People with great talent and ideas form businesses they believe in to provide others with products and services and to make a living for themselves and their families. As any small business owner knows, there is a lot to running a company, and you end up wearing many hats.

While you may be wonderful at flower arranging, you may know much less about how to form a business entity, keep proper books and records, or go about finding the best location for a shopfront. Some key elements are necessary for any business to be successful. You want to learn what you need to know before you open your doors. Read the full article here.

Get Out of the Waiting Room

by | Dec 11, 2020 | Happiness

The most difficult changes to navigate are the ones that we do not choose—the surprises that interrupt our lives and best laid plans.   The pandemic certainly fits into this “unwelcome” category.  It not only threatens our lives, it has fundamentally changed how we operate in our homes, work environments, schools, and places of worship.  It has also changed how we interact, recreate, and socialize. (more…)

Investing in Your Quality of Life

by | Dec 4, 2020 | Investments

The first step to investing in your quality of life is to think about and clarify what is truly most important to you.  This is a time to listen to your own heart and to focus on what you value the very most in life.  Whatever you identify will become the foundation for establishing meaningful life and financial goals.

In addition, as you think about your life in the future, it will be important to view your financial and life plan within a framework of your closest relationships.  If you have a spouse or life partner, you will want to factor in their dreams and expectations as well as your own.  You will also want to take into consideration your responsibilities and your hopes for your children, parents, siblings and those you consider to be “family.” (more…)

Bringing Balance to the Risk Tolerance Continuum

by | Nov 20, 2020 | Investments

When you are making a financial decision, do you intentionally weigh the potential risks and rewards?  Is weighing that balance more of a rational or emotional process for you?  In other words, do you tend to rely more on facts or on feelings?

For example, when Karla got a promotion at the architectural firm where she is employed, she gave serious consideration to buying a new car.  She thought about the practical and emotional rewards of having a new car such as: 1) having a dependable means of transportation, 2) getting better gas mileage, 3) portraying a successful image to her clients, and 4) experiencing the pride and pleasure that comes with owning a new car (there’s nothing like that new car smell!). (more…)