Singular Focus, Singular Result

Key Takeaways

  • Like some inventions, financial products that try to do too many things at once often don’t do any of them well.
  • The words “growth” and “guarantee” rarely go together.
  • Look for products and services that are simple and easy to understand and that offer a high probability of success based on a track record.

10 Wealthy Rules to Live By

Key Takeaways

  • Don’t underestimate the importance of planning, keeping your cash from being tied up and seeking the tax advantages of every money matter you run into.
  • Just try to accomplish three things every day and when you’re trying something new, don’t expect perfection the first time.
  • If nothing else, remember to have fun as you go through life.

To Be or Not to Be – a Fiduciary?

Key Takeaways

  • The recent delay on the fiduciary rule has caused a lot of questions as to why this ruling matters.
  • Brokers and Registered Investment Advisors are different when it comes to retirement funds in that Brokers do not fall under the fiduciary rule, and Registered Investment Advisors do.
  • It’s important to know the difference between the two when you are picking an investment advisor, so please contact us if you have any questions.

Not Your Father’s Reverse Mortgage

Last year I was meeting with a baby boomer client couple in the suburbs of Chicago. They were in their early 60s, and we were discussing “What’s Next?” for them as they transition from vocation to avocation (aka semi-retirement yet engaged in life). They mentioned they might like to relocate to the Carolinas, where the cost of living is lower, the climate’s better, and to be closer to family. I advised them to establish a standby expanding line of credit which is a Home Equity Conversion Mortgage (HECM).  This could give them tax free cash on their home equity in the event they found a property in the Carolinas sooner than later and needed to act fast to seize the opportunity.