When I do retirement plans for clients, one of the basic elements is to model how often a portfolio similar to theirs will last at their planned spending levels. Intuitively, most people want to hear that there is a 100% chance their plan will succeed. When I tell them it’s less than that, they usually aren’t pleased. After all, who wouldn’t prefer certainty when it comes to retirement?
Do You Need a Financial Advisor? Maybe Not. But You Might Want One.
There’s a common message in the financial industry that everyone needs an advisor. I don’t believe that.
If you take pleasure in managing your own finances, have the time to remain involved, and possess the discipline to make confident decisions, you will likely be just as successful as someone who hires an advisor. There are plenty of capable, self-directed investors.
In fact, an advised portfolio will almost always be pricier than a self-managed one. And when all things are equal, it’s unlikely to outperform. But all things aren’t always equal.
One Big Beautiful Bill: What Investors and Taxpayers Need to Know
The One Big Beautiful Bill Act (H.R. 1), a legislative behemoth recently passed in Washington, may have a humorous name, but its implications for investors, taxpayers, retirees, and business owners are far from insignificant.
This comprehensive package secures reduced tax rates, modifies healthcare and energy incentives, and restarts the estate planning process for wealthy families. Below, I’ll break down what matters—and how you might want to adjust your planning.