Financial Pitfalls for Lawyers and Doctors: The 8 Most Common Behavioral Mistakes

Comprehensive financial planning is a complex endeavor, and professionals such as lawyers and doctors are particularly susceptible to making mistakes in this domain.  The demanding nature of their careers, coupled with unique factors related to their professions, can contribute to behavioral mistakes and biases that hinder their investment success.  While many people believe they can […]

Today’s Annuities: A Powerful Tool for Retirement Planning and a Recession Hedge

For the past several months, you could not open the financial news without seeing articles about the looming recession.  As economists and financial advisors anticipate a recession around the corner, and some claim it’s already here, investors are becoming increasingly wary of market volatility.  However, there is one investment vehicle that is not only a […]

Lessons from 5 Celebs About Financial Mistakes

It is common to examine “best practices” in order to pick up new behaviors, but today we’re going in the opposite direction. To borrow a quote attributed to Eleanor Roosevelt, “Learn from the mistakes of others. You can’t live long enough to make them all yourself.” In this article, we examine the financial decisions affecting […]

Which Investment Strategy is Better for You, Active or Passive Investing?

Investing is a critical aspect of wealth creation, and it’s essential to have a well-thought-out investment strategy to achieve your financial goals. When it comes to investing, there are two primary approaches: active investing and passive investing. Both methods have their merits and drawbacks, and understanding the pros and cons of each can help investors […]

A Lesson from Lisa Marie Presley, Tony Hsieh, & Howard Hughes About Estate Planning

Everyone knows the expression “More Money, More Problems.”  But you can add orders of magnitude to this proverb if you die with more money and less estate planning. As we have seen in the past with Howard Hughes’ dubious will materializing in odd locations, and more recently with the tragedy of Tony Hsieh, the wunderkind […]

Deciding Where to Retire

elderly couple in lawn chairs looking at lake with mountain views

Where you choose to live after retirement can have a big impact on both your finances and your quality of life. Years ago, I assumed I’d retire in San Diego, California, where I raised my children, where the weather is nice, and where I spent most of my life. Now, two of my adult children […]

The New RMD Rule and How it Affects Retirees

person with cash in hand typing on blue calculator

A new rule passed into law by Congress at the end of 2022 as part of the SECURE Act 2.0 gives you the option to postpone the age at which you must start taking required minimum distributions (RMDs) from your tax-deferred retirement accounts. Specifically, it has increased the age from 72 to 73 years old. […]

Robo-Advisor vs. Human Professional Guidance

With advances in artificial intelligence and automation, robots are increasingly part of our daily lives. If you drink a vodka tonic every day at the same time, a robo-bartender might do the trick. But if you want a custom drink that fits your level of energy, if you’re buying drinks for your table, or if […]

Investing in a Recession – Equities That Tend to do Better

Is 2023 heading into a recession? If so, are there recession-proof investments? There are factors that suggest a pause in the bear market including the reopening of the Chinese economy, the cooling of inflation, and the apparent strength of the labor market.  Other factors suggest we are heading into a recession.  The Commerce Department reported […]