This is one of the all-time lines in the movies. Captain Quint, Police Chief Brody and Hooper are out looking for the Great White Shark in the movie Jaws. After the Great White attacks the Orca, Brody turns to Quint and says, “You’re gonna need a bigger boat.” What does this have to do with… Continue Reading: Practical Reasons Why “You’re Gonna Need a Bigger Boat”
The first half of the year is in the books. Here are Practical Financial Moves for the Second Half of the Year. As you may recall, at the beginning of the year, we gave you 3 Reasons to Skip the Financial New Years Resolutions This Year. Additionally, we are not there yet, but to prepare,… Continue Reading: Practical Financial Moves for the Second Half of the Year
The Founding Fathers knew they were putting their lives on the line when they signed the Declaration of Independence in 1776. While we get to say happy birthday, I suspect they are all smiling now, as the country has become the largest economy in the world. The Gross Domestic Product (GDP) measures this. It is… Continue Reading: Happy Birthday, America: 250 Years And Still Going Strong
You have decided to retire. Now it is life after your last paycheck. There will be no more direct deposit, at least not from your former employer. We wrote earlier about Why Getting Old is the New Normal. Here are practical steps for retirement. Identify What It Costs You a Year to Live Before anything… Continue Reading: Life After Your Last Paycheck: Practical Steps for Retirement
Perhaps you retired from your career. Now you have gone on and started and set up your own small business. This business could be a service business related to what you did during your working career. Things are going well. In fact, some days, too well. You are working far more than you planned at… Continue Reading: 3 Practical Reasons to Hire Your Grandchildren in Your Business
3 Practical Ways to Minimize Your Lifetime Tax Bill Minimizing your lifetime tax bill is not about one clever move or one tax year. It is about making a series of smart decisions at different stages in your life, early career, peak earning years, and retirement. The goal is steady progress over decades, not perfection… Continue Reading: 3 Practical Ways to Minimize Your Lifetime Tax Bill
This post is important for investors that are (or want to be in the future) accumulating assets in different account types and want to improve their after-tax results. Asset Allocation We will never diminish the importance of asset allocation. Asset allocation is critical. Having said that, asset location is equally critical. Always remember, Why You… Continue Reading: Why Asset Location is as Important as Asset Allocation
Following the herd can lead to risky outcomes, don’t chase the latest investment fad. Many investors fall victim to the herd mentality, especially when chasing the latest investment fad. Following the crowd can lead to poor investment decisions and unnecessary risk. Everyone knows they should not drive through the rear-view mirror when investing. It was… Continue Reading: Why You Shouldn’t Chase the Latest Investment Fad
Plan B Last summer, we drove into a gas station near the beach to fill up the gas tank. An old, blue, beat-up pickup truck pulled in next to us. In the back of the truck was a small dinghy. I saw the name “Plan B” on the back of the boat and started… Continue Reading: 3 Practical Reasons You Need a Financial “Plan B”
Creative Destruction was a term coined by Austrian Economist Joseph Schumpeter in 1942. This term essentially describes the dismantling of current processes and procedures to make room for improved methodologies. However, for investors creative destruction really matters as capital does not disappear, it moves, typically from what is not working to what is working. An… Continue Reading: Why Creative Destruction Can Be a Good Thing