Will Net Neutrality Impact Financial Planning?

Will Net Neutrality Impact Financial Planning? Perspectives from a Financial Advisor: You’re probably tired of hearing about, talking about and thinking about Net Neutrality. And I suspect your opinions on this topic are along ideological lines. But from my perspective as a financial advisor, the idea of repealing Net Neutrality is worrisome. Let me explain. As most know, “Net Neutrality” is the basic principle that prohibits internet service providers (like AT&T, Comcast or Verizon) from slowing down, speeding up or completely blocking content, websites or web-based applications you and I want to use. Let’s Ignore the Free Speech Issue for a Second I don’t want to get into a divisive discussion about whether Net Neutrality enables and protects free speech. Nor do I want to debate how much Net Neutrality will devastate certain communities that cannot afford to pay. And I don’t want to get into an argument about whether …

CONTINUE READING

4 Ways to Best Utilize Your Financial Advisor

What is the value of a financial advisor? The personal touch. Here are four stories of how flesh-and-blood advisors you meet in person (that’s opposed to a robo advisor, where your contact is digital or over a phone line) benefited their clients. These good advisors helped clients to overcome emotionally based decisions, stop them from making mistakes, figure out whether to make a big purchase and decipher arcane retirement plans. We’ll have separate articles throughout the summer describing in greater detail how they helped their clients. Planning is so very vital for your future. According to a study by insurer Northwestern Mutual, a large majority (72%) of U.S. adults believes that the economy will suffer future crises. But two-thirds of them don’t have a financial plan. Plans are not static. Once you have a plan in hand, ongoing contact with your advisor is vital to make the plan work. In …

CONTINUE READING

Inflation, Your Retirement & Purchasing Power

You hear it all the time: you should make sure your retirement savings at least keep pace with inflation. But what is inflation and how does it really affect your retirement savings? Let’s explore. In simple terms, inflation is defined as an increase in the general level of prices for goods and services. Deflation, on the other hand, is defined as a decrease in the general level of prices for goods and services. If inflation is high, at say 10% – as it was in the 1970s – then a loaf of bread that costs $1 this year will cost $1.10 the next year. Inflation in the United States has averaged around 3.29% from 1914 until 2016, but it reached an all-time high of 23.70% in June 1920 and a record low of -15.80% in June 1921. Most will remember the high inflation rates of the 70s and early 80s …

CONTINUE READING

Things All Financial Advisors Should Keep In Mind

Money management can seem pretty straightforward — customers set goals, and financial advisors help them meet those goals. But things aren’t always so simple. Emotions, family situations and the client’s financial standing can pose challenges for financial advisors if they’re not prepared. “Every individual is unique, and makes decisions about investing and wealth management influenced by their emotional makeup,” says wealth management adviser Chris White. “Financial advisors need to understand the emotional factors that drive their clients’ behavior, and their attitudes about risk-taking and money management. If they do, they will be better able to fashion wealth management plans that are suited to an individual client’s personality, temperament and risk-tolerance.” Here are some things to keep in mind. Plan for a Solo Life, as Well as Marriage Married couples who start financial planning generally don’t give any consideration to the chance of divorce, even as a remote contingency, says registered …

CONTINUE READING