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Does a Better “Investment Returns Recipe” Actually Matter?
Singing the investment returns blues? Your investment returns aren’t performing as well as you planned? Does your Morningstar investment rating show 5 stars, but your actual investment returns only show 1 star? You might need a better investment returns recipe! Not too long ago, I looked at a client’s portfolio and found a gap between…
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Examples of great things ethical financial advisors really like to do!
Ethical financial advisors are on the rise and are now doing things within their businesses with the hope to serve as an example of the right behavior for the rest of the industry to follow. I’m tired of the nonsense “top advisor” lists based on AUM or how many Twitter followers somebody has. I feel…
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Are Millennial Women Spending Enough to Reach Financial Goals?
As a CERTIFIED FINANCIAL PLANNER™ (CFP®), I often hear from millennial women, “But Mr. Brewer I don’t have any money to invest!” But I usually respond with, “Could there be funds available that you just don’t know about?” Let’s examine what might be going on. Credit cards make spending money easy but without making us think much about…
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Turn Defined Contribution Plans into an Employee Benefit?
Few people refer to their 401(k) as a “defined contribution plan.” In fact, many people appear to perceive a 401(k) or for that matter a 403(b) plan as an “investment plan.” Many employers view their 401(k) plan as an optional, take-it-or-leave-it employee benefit. Historically, people who went into teaching and other public sector careers received…
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Why You Should Focus on Money Independence and Not Retirement
When would you like to achieve money independence? When would you like to retire? Are these two “goal dates” the same? Let’s examine these two questions. Money independence vs. not having to work Do you ever have days when you feel like you just want to quit your job? What holds you back (on being…
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Use a Health Savings Account to Pay for Retirement, Medical Costs Tax Free!
The health savings account (HSA) is an often misunderstood financial planning tool. A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). Some people confuse it with a flexible savings account (FSA). However, if I told you could…
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Your Guide to Picking the Best 401k Investments
Most of us hate uncertainty. Unfortunately, picking investments almost always involves uncertainty. This is obvious if you review the long list of investments available to include in, say, a 401k investment menu. That’s because while you can look at the past performance of each investment, you ultimately have no way of knowing which investments will…
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What Should You Really Be Getting Out of Your Financial Plan?
The term financial plan gets thrown around casually these days. The term financial advisor is, believe it or not, equally applied to insurance agents, stockbrokers, investment adviser representatives, and those with advanced designations such as the Certified Financial Professional (CFP®). That said, some financial planners will deliver, what I call, “an assessment that does not…
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Know the Difference Between Income and Wealth
(Last updated August 10, 2023) When we think about what it means to be rich, we often think about both income and wealth. High-earners like doctors and lawyers might be considered rich. But so are people with a lot of money in the bank or a big house. But when it comes to financial planning,…
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Can Business Owners Cut 401k Plan Fees and Save on Taxes?
No small business owner I have talked to knows their 401k plan fees or their effective tax rate. One of the questions on the Envision Wealth Structural Assessment is “Do you know your effective federal income tax rate? I have yet to find anyone who actually knows this answer. Most people just take their receipts…
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Recent Posts
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