Creating Financial Plans

Advisors: Plans, Not Fads

Will you ever stop underperforming your own investments? The rollercoaster market naturally spurs you to chase trends and lose sight of what you really ought to do: Stick to a well-advised plan of long-term payoffs and goals.

Winning by Losing Less

To reach your financial goals, you don’t have to outperform every benchmark every year. For long-term investors, avoiding and mitigating losses is a key factor in achieving ultimate success in your portfolio.

Setting the Right Goals

The first step of successful investing is setting goals. Right goals. Having a long-term stable income for retirement is a right goal. Accumulating $1 million is not.

Avoiding Crisis After a Death

Most women understand too well the odds that later life might find them alone financially. Among baby boomers, for example, an estimated seven out of 10 wives will outlive their husbands. If you’re one of these women, how do you prepare?

Protecting Special-Needs Kids

More than 56 million Americans have some type of disability, according to the Census Bureau. Autism, for example, affects one in 50 children. For parents of a child with a disability, the great fear is: “What happens when we’re gone?” One answer: Set up a trust for the child. Here is how.

To support a special-needs child during and beyond your lifetime requires truly special planning. Not only are there more costs and uncertainties but also heavier emotional weight.

What Can You Delegate?

There are things in life that you can, and should, delegate. Financial planning is one of them.

Each of us has 168 hours in a week. After subtracting the time you work, sleep, eat and bathe, you are left with only a few precious hours to do whatever pleases you. If you spend 10 hours a day working and commuting, two hours eating, and eight hours a day sleeping, that leaves you 48 free hours. So how do you choose to spend your time?

Tackling Financial Transitions

Everyone goes through transitions in life, ready or not. Moving, switching jobs, getting married, having children – each one creates additional financial challenges. Some of life’s changes are foreseeable, while others catch us unprepared. Taking the necessary precautions is key to ensuring your financial stability amid these shifts.

Avoiding Financial Paralysis

For all these years I work with families, I notice one characteristic they have in common. When facing financial choices, they too often become paralyzed out of leeriness they will make the wrong ones. The answer is to get a good handle on their financial picture, so they can act.

Don’t get me wrong. They’re incredibly bright, they are achievers for most of their lives, and they have the financial success that they always expected. But these qualities work together to create a storm of fear that prevents them from making decisions and taking steps forward.

The Magic of Advisor Collaboration

The strength of the best advisor-client relationships is a collaborative spirit.

Clients bare their financial and personal lives to an advisor: That dumb investment you made in your friend’s ice cream parlor, the huge mortgage you took out to buy a McMansion, your plans to have a child in a year or so. Based on that candor, the advisor’s task is to give you clear-eyed counsel, using solid know-how and experience.

How to Invest in an Up Market

As the stock market has reached all-time highs over the past year, perhaps you thought about getting in the game and grabbing your share. But beware. Investment decisions during periods like this are challenging because the biggest enemies in money management – fear and greed – influence your decisions most at times like these.

With a bull market now well into its sixth year despite frequent threats of a looming correction, how can you avoid making rash decisions amid market highs?

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