Last week, I hosted at our office Chicago’s top bloggers for the ReVamp Project, organized my MJ Tam of Chicagonista.com. It was a delight listening to the concerns of these forward-thinking, thought leaders for mothers in a changing economy.
Podcast: Download (Duration: 13:58 — 12.8MB)
Although I do not take any personal clients any longer, (listeners are referred to our Money Smart Network of Preferred Financial Professionals) I still conduct annual reviews with existing clients. It’s my responsibility. I recently sat down with a client, who is a widow, and her son to review what our Money Smart Success Formula has produced over the past four years.
Podcast: Download (Duration: 17:08 — 15.7MB)
After two years doing a financial talk radio show in Chicago, people have frequently asked, “Are people really getting ahead?” I had someone on my Facebook community page even say, “Did the smart money guy say to cash out of investments prior to the last crash?? Most didn’t. I’d like to know if he did. If he did he is a hero. But most never risked telling their listeners to SELL SELL SELL. The problem is sponsorship. I guess you want to get a money guy who has none investment sponsors. That might be the test.”
Podcast: Download (Duration: 6:44 — 12.4MB)
Since Americans are living much longer than previous generations, that means Medicare and Social Security will be supporting retirees for many years more than ever anticipated when the programs were created. When FDR (President Franklin Delano Roosevelt) created Social Security, the retirement age was set at 65, but the average life span was 62. Research shows that longevity for men and women has increased by between 35-40% since 1940. That increase translates into higher costs, rising 38% since the beginning of the program. The left argues there is no real change in longevity. Should the retirement age be raised?
The 401(k) dilemma, dropping account values and resistance to opening statements piling up lead many to further financial confusion and isolation. Compound this with job layoffs and increasing unemployment rate have caused many financial homes to crumble. Here are my notes and thoughts from this segment on CBS’s 60 Minutes.
Every once in a while you get to meet someone who resonates and echoes your passion, core values and methodologies. In the field of personal finance counselors, financial advisors and financial planners that is very tough to find. Then comes along Joel Wymer from Akron, Ohio who has recently been voted by the Beacon Journal as the #1 financial advisor in his community. We were fortunate enough to catch Joel at his office for an interview during our financial talk show’s podcast, Money Smart Radio…
Although discussing investment strategy is a little like discussing religion, I thoroughly enjoy an honest debate on different investment strategies. One thing I’ve noticed, however, is that many people do not first examine their own beliefs about market behavior and investment philosophy before developing an investment strategy, which can lead to inconsistencies between beliefs and behavior.
Here are questions that should be wrestled with and resolved before developing an investment strategy.
Did you realize a 30% loss in one year, requires a 43% rate of return the next, just to get your account value back to where you started? If I told you that you don’t have to pass up all the opportunities in real estate simply because you haven’t got the cash or credit, what would you say? If I told you about an untapped asset within your IRA and previous 401(k) plan that can be used to invest in real estate, would you believe me? This video with Mick Hersh of Security Trust Company will help your understand the power of your IRA and overcome misconceptions that keep you from looking at investing in real estate.
We all know that there are certain evergreen financial moves we can make to increase our retirement savings. We can put more money away into our retirement accounts, work longer to delay depleting these accounts, and maximize employer matches by contributing more to our 401Ks. But is that really enough? Or is this old tried and true advice quickly becoming outpaced by inflation, rising tax rates and lowered investment growth? … Continue Reading
Another great guest post here by Yolander Prinzel to compliment one of our videos about a student who has gone through our wealth building and financial coaching process. What a great writer she is! I really appreciate her work as I continue to stay focused on my book deadline…
Enter Yolander Prinzel:
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