Last week, The National Association of Personal Financial Advisors invited me to address their national convention, which is held in Salt Lake City, UT, this year in May. I’ll be a part of a panel discussing the future of financial therapy and headline a breakout session on why financial planners that have their own financial planner, are happier and […]
Archive | January, 2011
For most state governments, including South Dakota, the chickens are coming home to roost. For decades state and local governments have spent far more than they’ve received. They’ve funded the shortfall by borrowing and pushing the repayment out into the future, hoping against hope that somehow the money to repay the debt would come from […]
This week I did a very quick trip to Seattle, WA, where I spoke on my client process at the annual symposium of the Puget Sound FPA. TD Ameritrade sponsored my talk, which was a first for both of us. I appreciated their sponsorship, as I know those in attendence at my presentation did, too. […]
If the premise of a new book, Academically Adrift, is correct, college might be just a waste of money. In spite of soaring tuition costs, more and more students go to college every year. A bachelor’s degree is now required for entry into a growing number of professions. And some parents begin planning for the […]
The determining factor that may give your kids the best chance in life doesn’t depend solely on genetics, or the decisions you make as a parent, or if you have a lot of money. It’s actually more complicated than that, according to a study done by the University of Texas and the University of Virginia. According to the study, for poorer parents […]
If you’re a plumber, do you send your sister a bill for replacing her leaking shower head? If you make your living as a massage therapist, do you expect your mother to pay you for her twice-monthly massages? As a financial planner, do you charge your family members for financial advice?
Ask Dick Wagner, CFP, what his best advice is that can fit in one sentence and he will tell you, “Spend less, save more, and don’t do anything stupid.” Here’s an article written by Olivia Mellan on the best one-line financial advice from America’s top financial planners. Click here to read the article.
The results of the study commissioned by South Dakota Senator Tim Johnson are in: the status quo regarding government oversight of financial advisors is adequate and no change is needed. The bottom line is this: sales people touting their financial products can continue to look and act like they are working in the best interests […]
I’ve had an interesting conversation on Twitter recently where I was “tweeting” (that’s “talking” for the over-50 crowd) about a research study that indicated when paying off debt, there is no advantage psychologically to paying off the smallest debt first. Instead, you should apply your funds to the highest interest rate debt. Of course, paying […]
“Fee-only advisors derive no compensation from selling commission-based products; any compensation they receive comes from clients. That compensation structure helps ensure that the advisor is working strictly on the client’s behalf and isn’t inclined to favor products that may not be in the client’s best interest,” according to Esther Pak, of Morningstar, in a post […]