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Search Results | "Stephen Kelley"-robert

‘If you follow the herd, you will be slaughtered’

There is a lot of talk these days about human behavior and investing. This has been an area of interest of mine for a while. While admitting I have no special skills or knowledge, other than that which I have picked up through the past 15 years of dealing with people day in and day out, I find ...

Main Street Money: The path less taken

The retirement crisis is real, and I’m concerned about our future. I believe everything we’ve been told about saving money is wrong. I didn’t always, however, even though I am old enough to have remembered the truth, I, too, bought into the myth. I came to financial services rather late ...

Main Street Money: Husbands, consider your wives when planning retirement

I recently did a retirement planning workshop for women. It’s been on my mind for quite a while, ever since I’ve seen the messes men have put their wives in because of bad planning. One such is a good client of mine, call her Alice, whose now deceased husband, Ted, elected a single-life ...

Main Street Money: The looming ‘care-tastrophy’

There are a lot of things that can literally eat your lunch when it comes to retirement. Inflation, taxes, market risk, outliving your money, making poor decisions – all of these can be retirement killers. Further, they are all exacerbated by longevity. The longer you live, the more each can ...

Main Street Money: Input vs. Income

When you think about your money, what do you think about? Do you think about your investments? Do you dwell on asset classes and allocations? Do you think about all the money you’ve made in the market, and all the money you still plan to make? Do you think about risk classes and sectors? ...

Main Street Money: The money cycle

Despite what many people think, income and money are not the same thing. Money is the currency, while income is the source. A nest egg is finite; once it’s gone, the money stops. Income, on the other hand, should be renewable and last a lifetime, even if the nest egg runs out. Think about ...

Main Street Money: Oh, the webs we weave…

It’s perhaps more than coincidental that as I sat down to write this column, I received and email about a “neat trick to generate 4.75 percent income.” It involves a convoluted plan having to do with a mixture of dividends and stock buybacks. As a registered investment adviser, I found it ...

They promised control. What they delivered was risk

The promise was clear. Put money away every month. By doing so, you would receive a couple of “bonuses,” a) a small match (sometimes) from your employer, and b) a tax break that will save you tens, and maybe even 100s of thousands of dollars over your lifetime. Grow it at 6 percent to 8 ...

Money Matters: Market is overvalued

Right now, as I write this, the Dow Jones industrial average is up 25 bps (basis points: one quarter of a percent or .25 percent) on the day. The prior day, it was all over the place, closing up 43 bps (.43 percent). During the past week, it’s declined by nearly 4 percent, and it’s off 3 ...

The principle of preservation over accumulation

Perhaps the main key to successful retirement income planning is the principle of preservation over accumulation. Understanding this key point can reorient you in a way that may guarantee success in retirement. To fully grasp this, one must begin by understanding the threats to any retirement. ...

Main Street money: What’s in a name? Three basics to retirement income

About a year ago, Stanford University released a study about retirement planning in a defined contribution world. It concluded there were three basic threats to retirement. They are: 1. Inadequate savings. Various studies show that roughly half of all older American workers (age 55-plus) have ...

Money Matters: Is your retirement a Jenga tower?

The market bounces back after suffering its worst 4th quarter open since 2008. No one seems to agree on what’s next. Last time, we were talking about why we believe 401(k)s and other tax-qualified (tax-deferred) plans are not the best way to save for retirement. At the heart of this opinion ...

My email from Tom, Part 1

I recently received the following in an email from a man named Tom. “Normally I wouldn’t take the time to write this, but I find your ad and corresponding ‘The Great 401k Rip Off’ website a totally irresponsible attempt to stir up fear and confusion around financial planning. I am ...

It’s your future, so what are you waiting for?

What are you waiting for? This is the question going through my mind as I watch the Federal Emergency Management Agency (FEMA) director, the president, and the local governors begging people to leave the areas most apt to be hit by Florence. Winds of 110 mph. Nearly four feet of rain. Floods. ...

Money Matters: Do financial planners have your interests at heart?

One of the most common claims by people in my business is, “It’s about the people, not the money.” Indeed, we make that claim as well. It’s a great line, isn’t it? If only it were true. A first step in working with us is going through an online survey. One of the true/false questions ...

Creating your own safety net

“We cannot solve our problems with the same thinking we used when we created them.” This nugget of pure gold from Albert Einstein is one of my favorite all-time quotes, and that’s saying a lot. It’s the key to creating a good income plan; when you come right down to it, it’s ...

Money Matters: Who owns your retirement account?

Most of us have some kind of retirement account, either an employer-sponsored account such as a 401(k) or 403(b), etc., or a privately managed account like a traditional IRA. Some of us even have pensions that we have earned through the years, and most of us who worked will have a Social ...

Find a Sherpa to execute tough financial terrain

Not too long ago, I was on a walk with my dogs. I should note that a couple of years ago, I broke my ankle. Since then, it, both hips, and my left knee haven’t let up, so walking can be a challenge. Walking on rough terrain can be an ordeal. Anyway, I was walking my dogs and we came to a ...

Main Street Money: Is financial planning only for the wealthy?

When was the last time you went to a doctor? Do you remember how that appointment went? The last time I went, my doctor weighed me, asked me questions about how I was feeling, looked at a blood test I took, poked and prodded me with various instruments and popsicle sticks, and sent me on my way ...

Money Matters: Too soon old, too late smart

I was reading an article from Morningstar the other day, and while I was agreeing with much of what the author said, a lot of it was troubling to me. Allow me to explain. The title of the article was, “These Products Offer Protection, but at What Price?” Just that title is troublesome to ...