Wedding celebration, Christina presents at DFA conference, Client Reminders, Cornerstone anniversary & more!
Read MoreCornerstone Staff Updates, B Corp: Best for the World, Identity Theft Prevention Tips, and more!
Read MoreHappy New Year, Protecting All of Your Assets, Introducing Sara, So Much for Market Forecasting and more!
Read MoreGender Inequality, Charitable Deductions & the New Tax Laws, Tariffs 101, Cornerstone happenings and more!
Read More2018 Tax Packets, 2019 Goals, Retirement Plan Limits and more!
Read MoreTo Travel, Or Not To Travel, The Repeal of Net Neutrality, Cornerstone happenings and more!
Read MoreWe’re working more diligently here at Cornerstone to understand the nuances of various types of responsible investments for those clients who wish to take a stand on the kinds of companies they will own. The field has expanded and the approach evolved from just excluding certain companies in a portfolio (for example weapons) to owning those who operate in a way that reflects one’s personal values.
Read MoreAs the 2016 presidential elections are shaping up more than one concerned client has asked me in the past few months how I think their portfolio might be affected. Usually this is out of concern that the client’s preferred candidate is not elected, leaving the client feeling vulnerable that the new president might direct the country in a way that will negatively affect their investments.
Leading up to the election we could be in for a bumpy ride. Because we don’t have an incumbent president we are looking at one of two “unknowns” who will be taking over in November, leaving us with uncertainty as to the direction of the economy. That uncertainty will likely cause much volatility in the next 5 months.
Read MoreWhen I was a child the only television my father ever watched, and I with him, was the Jackie Gleason Show. Mostly I think he loved the dancing girls. Later in my teens he faced some difficult times and, probably for distraction, began to channel surf (which in those days provided a measure of exercise given the need to get up from one’s seat in order to change stations). Often at the end of a movie he would, sounding disappointed in himself, press the off button with vehemence and pronounce to no one in particular what a senseless waste of his time it had been.
Read MoreI recently met with a client and, as usual, we reviewed the amount of money she withdraws each year from her portfolio. Because she is retired, we want to make sure she doesn’t spend down her assets too quickly. By “too quickly” I mean that she should have some money left at age 95. (At this point most clients tell me “Oh I won’t live to be 95” to which I reply “Well you could! And if you do you don’t want to be destitute!”) As we were talking about the things she likes to spend her money on she mentioned a friend who goes to Florida every winter. “You know” she said wistfully, “she’s richer than I am.” “How do you know?” I asked. “Because I see how she lives” replied my client. My answer to that was, “the way someone lives is not always an indica-tion of their wealth” which led to a discussion about over-spending. As a financial planner I have all too often sat with clients whose lifestyle was way beyond their means.
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