Six Financial Best Practices for 2019

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So, are you ready to get a jump on 2019? Around this time last year, we shared a list of Seven Financial Best Practices to Jump-Start Your New Year. Our reach-out went so well, we thought we’d make it an annual tradition. Here are six more financial best practices for the year ahead. Pick a few of them or take on the entire list. Either way, you’ll be that much further ahead by the time 2020 ...

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Protecting Your Child from Identity Theft

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In September 2017, about a year ago, a massive Equifax security breach became public knowledge. If there was a silver lining to this infamous event, it likely spurred more consumers to take more measures to protect their identities. Perhaps you’ve placed a fraud alert or frozen your lines of credit, or you’re at least checking your credit reports more regularly these days.

All well and good. But what about your kids? As distasteful as the idea may ...

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The ABCs of Education Investing

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With school back in session in most of the country, many parents are likely thinking about how best to prepare for their children’s future college expenses.

Now is a good time to sharpen one’s pencil for a few important lessons before heading back into the investing classroom to tackle the issue.

THE CALCULUS OF PLANNING FOR FUTURE COLLEGE EXPENSES

According to recent data published by the College Board, the annual cost of attending college in the US in 2017–2018 averaged ...

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7 Things To Do Right Now While Market Volatility Returns

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On Friday, the Dow closed down almost 600 points (2.34%) on trade war fears. However, the markets are not tanking as we write this piece. In fact, overall market temperatures have been so mild for so long, many newer investors and us seasoned investors have forgotten what volatility feels like and how panic-inducing those times can be.

Experience and evidence alike show us how severely volatile markets test investor resolve, sabotage otherwise solid plans, and just plain hurt. ...

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The Current Market Decline in Context

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Right when we began to think markets only move upwards, the pendulum reverses. Unless your personal goals have changed, stay the course according to your personal plan. It never hurts to repeat this steadfast advice during periodic market downturns. We understand that thinking about scary markets isn’t the same as experiencing them. Fear is a completely normal response when something like this happens. Acting on those emotions, though, can end up doing us more harm than good.

History ...

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Seven Financial Best Practices to Jump-Start Your New Year

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Happy New Year! Now that 2017 is a wrap, one of the best presents you can bestow on yourself and your loved ones is the gift of proper preparation for the new year. Want to get a jump-start on it? Here are 7 financial best practices to energize your wealth management efforts.

  1. Save today for a better retirement tomorrow. Are you maxing out pre-tax contributions to your company retirement plan? Taking full advantage of your and your spouse’s ...
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Behavioral Biases – Part III

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We’re coming in for a landing on our alphabetic run-down of behavioral biases. We’ll wrap our series, the ABCs of Behavioral Biases, by repeating our initial premise: Your own behavioral biases are often the greatest threat to your financial well-being. Exhibit 1, attached, is a helpful summary of the biases we’ve covered throughout this series. Today, we’ll present the final line-up: sunk cost fallacy and tracking error regret.

Sunk Cost Fallacy

What is it? Sunk cost fallacy makes it ...

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Behavioral Biases (Part II)

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Let’s continue our alphabetic tour of common behavioral biases that distract otherwise rational investors from making best choices about their wealth. There are so many investment-impacting behavioral biases, we could probably identify at least one for nearly every letter in the alphabet. As Warren Buffett has famously said, “Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful ...

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Introduction to Behavioral Biases (Part 1)

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Our own behavioral biases are often the greatest threat to our financial well-being. As investors, we leap before we look. We stay when we should go. We cringe at the very risks that are expected to generate our greatest rewards. All the while, we rush into nearly every move, only to fret and regret them long after the deed is done. In this multi-part series “Behavioral Biases A to Z,” we’ll offer an alphabetic introduction to investors’ ...

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Are You Prepared for the Next Market Correction?

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If you enjoy a good read, we recommend Warren Buffett’s annual Berkshire Hathaway shareholder letters, dating back to 1965. While financial reports are rarely the stuff from which dreams are made, Buffett’s way with words never ceases to impress. His most recent 2016 letter was no exception, including this powerful insight about market downturns:

“During such scary periods, you should never forget two things: First, widespread fear is your friend as an investor, because it serves ...

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