When I tell people I am a financial advisor, they sometimes ask the inevitable question: “Do you have any hot stock tips?” The GI doctor about to do my screening colonoscopy asked me this while I was lying in the fetal position. Awkward! No, I do not have any stock tips – hot or cold. But I do have some important advice about achieving financial independence. It’s just five words. Are you ready? Recently a client brought me a book highlighting this advice. She was at an event and the AARP was giving free books to members. She knew I would like it, so she got one for me! I have the best clients. Thanks Anne M.! Money Rules – The Simple Path to Lifelong Security by Jean …
A Year Later- Micro Investing with Acorns
A year ago, I wrote about my lifelong passion (some would say obsession) for spare change. This dates back to counting the spare change and “egg money” in my grandmother’s chipped gravy boat in the 70’s and continues on today. But here in the 21st century we don’t have a lot of cash transactions, and therefore not a lot of spare change. Enter the micro investing app Acorns which invests your digital spare change. A year ago, I signed up for Acorns and linked my checking account. This is my “funding source”. Then I linked my credit card. You can link more than one card including debit cards. For every transaction on the linked card and the funding source, Acorns “rounds-up”. …
Good News for a Change – Prices at the Pump are Lower!
From the Wall Street Journal August 30th, 2019: Gas prices this past Labor Day were the lowest on the holiday in 3 years averaging $2.55/gallon nationally. According to AAA gas prices have remained steady. As of September 16th, 2019 the National average price is $2.56. State by state prices vary depending on taxes. Mississippi has the low of $2.18 and Hawaii has the high of $3.64 . You may not have noticed the lower prices. Take a look at your statements – has the price of a fill-up gone down? These extra dollars are easily lost to what I call the “vortex of spending” While you’re looking at your statements are there any recurring bills that you don’t use? The …
The News is Dreary – Should You Still Be in the Stock Market?
Last week trade wars were and still are in the news. Dow Falls 800 as Yuan Reels, Trump Jabs at China Last weekend horrific news of two more mass shootings in the US. Mass Shootings in ElPaso, Dayton Leave 31 Dead Data hacks, overdoses, deadly weather, shark sightings..... The drumbeat of bad news never ceases. As I write this mid-day on 8/5/19 the CRSP US Total Stock Market Index (effectively the entire publicly traded US stock market) has fallen 5 days in a row, and today looks to be another down day. However, year-to-date the index is still up. I love this terrific video from Loring Ward* "The Best Time to Invest 1927-2017". It gives some perspective about the …
Did You Get a Business Owner’s Tax Break in 2018?
Last December, I went to my annual two day tax education class and sat with several old-timers at lunch. I felt like a whippersnapper next to them. One of them opined "I remember the Tax Act of 1986" and proceeded to entertain us with stories of fixing mistakes using a quaint cut and paste method with an X-acto knife! Rule #1: Do not antagonize the person using holding the knife. Yikes! The most recent major overhaul to the tax code is officially known as the Tax Cuts and Jobs Act of 2017 (TCJA). I doubt I will be regaling the youngsters with stories about these changes to the tax code 32 years from now - but you never know. TCJA went into effect for the 2018 tax …
