Did I get your attention and maybe quicken your heart rate with my article title? If so, I apologize. Warren Buffett did NOT say the stock market will decline 80%. I was only giving you an example of how we react to fear.
No series on becoming an educated consumer of financial advice would be complete without discussing the multiple ways your advisor can be paid.
Why does it matter? First, you want to make sure the advice is adding more value than it’s costing you. You also want to avoid arrangements that pit your advisor’s incentives against your own best interests.
In our ongoing “Alphabet Soup of Financial Advice” series, we’ve been exploring best practices for finding a financial advisor. Today let’s discuss financial credentials – or those puzzling professional designations at the end of advisors’ names.
In my last article I explained that, as a consumer of financial advice, you owe it to yourself to get to know not only who is providing you advice, but whether they’re qualified for the role. This week, let’s take a closer look at financial industry job titles. It’s up to you to ensure there is tangible talent behind the titles you see.
When I started in the financial services industry in the mid-80s, you really only had two places you could go for financial advice: a stockbroker or an insurance agent. Fast-forward to 2017, and you’ll find an alphabet soup of financial titles, credentials and compensations.
Although it’s year-end, I’m not going to take this opportunity to discuss the historical 2016 investment market performance. We’ll save that for January. Instead I want to comment on one of the most powerful lessons investors can learn from the 2016 presidential election. It is this:
Predicting is NOT investing. (It’s speculating.)
Now, to some supporting statements on that.
Whether you're feeling elated, deflated or mostly just jaded about what just happened in the U.S. elections, we wanted to reach out to you with a few thoughts related to the "What's next?" that may be on your mind.
To say the least, there are more than enough political analyses available from even a single Google search, so we won't enter into that fray ourselves. If you don't yet have your own preferred informational source, we find that RealClearPolitics.com offers a relatively objective, bipartisan presentation of the news on that front.
It’s no surprise that this year’s U.S. presidential race has become a subject of conversation around the globe. In “Why Our Social Feeds are Full of Politics,” Canadian digital marketing executive Tara Hunt observes, “American politics, it seems, makes for high-intensity emotions far and wide.” The intensity will probably only increase as the November 8 election date nears.
Though tax policies haven't received top billing in this year's presidential election dialogue, they're still part of the conversation. Here's a quick review of each candidate's tax proposals based on information released by their campaigns. Keep in mind that regardless of who wins in November, any changes to tax policy would require congressional action.
On August 8, 2016, Donald Trump announced a revised tax plan. Full details of the new plan were not immediately available on the campaign's website. The following summary is based on the original plan announced by the Trump campaign and what we currently know about the revised plan.