My Top 9 + 1 from Morgan Housel’s The Psychology of Money
Morgan Housel, author of The Psychology of Money, spent some time with us last month. Here are my takeaways.
Barbell Portfolios Can Be Hard To Hold On To
Barbells work great at the gym because they put weight on a bar in such a way that it’s balanced, leaving room in the middle for someone to use it to workout. We often see portfolios that are designed like a barbell at the gym: lots of risk in one account and lots of cash or very short-term securities in another. In aggregate, it might produce some balance, but the reality is that it can create some real challenges.
Thanks a Million
We know our clients are looking for more than just status; they’re looking for purposeful ways to use their wealth. Here are just a few examples of how you can impact the people, organizations, and community around you.
When Lightning Strikes
Category: Financial Planning
Is your financial plan ready to weather a storm? Will you be caught off guard, as we were just weeks ago, or are you prepared? One of the advantages of working with a Financial Advisor is that he or she will build a plan that takes into account the inevitability of future storms.
The Influence of Trust
Category: Financial Planning » Behavioral Finance
A good relationship with our clients comes down to a handful of things. One of those things is whether a client trusts that we know more than they do about the type of investing we do at Foster Group.
Investment Policy Statement – Why Is It Important?
It is important for all investors, whether an individual, family, retirement plan, or nonprofit, to plan their investment approach around their goals and objectives. Investment Policy Statements (IPS) often document these items. Here are four reasons why it is important to have a clearly articulated IPS.
An Investment Portfolio Is Like a Good Smoothie
Recently, I rediscovered the benefits of homemade smoothies for breakfast. They are nutritious, natural, easy to make, efficient, and delicious! This morning, I was thinking about how a good investment portfolio is like a good smoothie!
What the Air Force Taught Me About Being a Financial Advisor
Category: Foster Group
Before I joined Foster Group, I served 24 years as a Survival, Evasion, Resistance, Escape (SERE) Specialist in the United States Air Force. It might seem like quite the career transition from Airman to Financial Planner. However, the two paths have more in common than one might expect.
Five Myths Your Landlord Wants You To Believe
Category: Financial Planning
It can be difficult to discern fact from fiction when dealing with landlords. A misunderstanding of these key issues can have serious consequences for your practice. The following information should help dispel some common myths and prevent costly mistakes in your next lease negotiation.
How Could You Use Your Stimulus Check?
Category: Financial Planning » Behavioral Finance
You may be wondering what steps you can take to improve your financial life during these unsettling times. I would like to share some thoughts on how to use your stimulus funds and staying invested during anxious times.
Grow Through What You Go Through
While this time has been incredibly difficult for so many, I hope that people look back on this time and remember the lessons they learned rather than the struggles they suffered.
Mutual Funds and ETFs: What’s the Difference?
There are structural differences between an Exchange Traded Fund (ETF) and a mutual fund that can create advantages to using one over the other.
Five Reasons to Consider a Roth IRA Conversion
Category: Financial Planning
The first four months of 2020 have proven to be unpredictable, volatile, and challenging. Despite recent market changes, there continue to be several planning opportunities that we are monitoring for our clients. One of these is Roth IRA conversions.
No Better Time to Deploy Your Donor Advised Fund
Category: Financial Planning » Charitable Giving
One of the best vehicles to help our clients meet their charitable giving goals is a Donor Advised Fund (DAF). Having a DAF in place for times like these is important to help meet the needs of your community.
Growing in Confidence
Category: Foster Group
I found that I often feel more confident if I do certain things: prepare, practice, pretend, and primp.
Vaccine for Physician Pocketbooks
Category: Investing » Asset Allocation
While many in the healthcare profession are working tirelessly to meet the demands the COVID-19 virus has placed on the system, others have seen their hours cut and sources of income dwindle. Here are some options for those of you whose financial situation has changed dramatically in the past few months.
What to Do with Your College Expenses Refund Check
If you are receiving a refund of money already spent from a 529 plan, here are some important considerations.
Who Is Your Team’s Financial General Manager
No matter what the circumstances, during the good and the difficult times, it is in our best interest to seek guidance on the most important aspects of our lives. Consider hiring a "General Manager" to help you with your finances.
Four Ways to Connect with Foster Group
How can you stay connected financially during this time?
Cloudy Markets Still Have a Silver (Tax) Lining
Category: Investing » Diversification
During negative market cycles, there are some planning and investment strategies that might strengthen your financial plans. One such opportunity is tax-loss harvesting
Clarifying the CARES Act for Businesses
Category: Financial Planning » Closely Held Business
Dave Hove, Senior Tax Partner at LWBJ, highlights programs that apply specifically to businesses under the CARES Act.