Being Smart with $$ -- More smart quotes

More quotes from Knight Kiplinger:

“Conspicuous consumption will make you conspicuously poor.”

“The key to stock market success isn’t your timing of the market. It’s your time in the market—the longer, the better."

“Keep a cool head when others are losing theirs.”

Again, true words!

(In Kiplingers Mag April '17) 

Larry Pike, CFA

www.clientpriority.com

Being Smart with $$ -- Intelligent Quotes

Quotes from Knight Kiplinger:

"Wealth creation isn't a matter of what you earn. It's how much of it you save."

"Your biggest barrier to becoming rich is living like you're rich before you are."

"Pay yourself first." Meaning put money into retirement accounts before other spending and don't spend more than what's left. 

True words!

(In Kiplingers Mag April '17) 

Larry Pike, CFA

www.clientpriority.com

Blog: clientpriority.blogspot.com

Being Smart with $$ - Is Stock Picking Easy?

Stock picking is easy, right? You just buy the good companies and don't buy the bad ones. Apparently strategist Tom Lee disagrees. He pointed out on CNBC that the stocks hated the most by Wall Street analysts are fairly consistently OUTperformers. So if I have this right, then the bad companies are actually the good companies? So what does that make the good companies? Before you go buying every bad company and selling every good one, something fairly consistent in the stock market is that just when you think you have a trend figured out, that pattern disappears. But you know what strategy HAS consistently worked? Buying a portfolio of all kinds of stocks and sticking with it for the long term. 

http://www.cnbc.com/id/104347060

- Larry Pike, CFA, Client Priority Financial Advisors LLC

- www.clientpriority.com

Being Smart with $$ -- Isn't it Good for Your Advisor to Act in Your Best Interests?

How can it be a bad thing when your financial advisor is required to do what is in your best interest (acting as a fiduciary)?  Currently, many advisors only need to recommend products to you that are “suitable” even if not best for you.  The Department of Labor has instituted new rules requiring advisors to act as fiduciaries when advising on retirement accounts but the new administration has put it on hold.  I attended a conference with the Massachusetts Securities Division yesterday who likes that the press coverage on this issue has improved awareness.  So you need to PROTECT YOURSELF even if the current administration won’t.  Working with an advisor? Ask if they are a FIDUCIARY (not all are).  Ask how they get paid for what they recommend, what are some alternatives to what they are recommending and how they would get paid for those alternatives.  Use the smell test to decide if an advisor is focused on YOUR best interests or their own.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com

Being Smart with $$ -- Remove Your Information to Protect Your Identity

FRAUD PROTECTION ALERT

familytreenow.com provides extensive information to any would-be online thief about your personal information by simply typing in your name. The good news is that you can opt out and remove your information from this site before someone else uses it to bypass bank and investment company security questions. 

Go to: familytreenow.com/optout  

Thank you to Money Magazine (March '17) for pointing this out.

- Larry Pike, CFA, Client Priority Financial Advisors LLC

- www.clientpriority.com 

Being Smart with $$ -- Listen to Future You

You run into somebody who looks exactly like you but 20 years older. You realize it's you from the future. He's so glad to see you and begs you to start saving more money now.  He tells you he realizes how foolish he was spending so much money frivolously when he was younger and that life is full of unexpected and expensive surprises. And how much easier life would be if he had been smarter about money all those years. But you tell him you are having too much fun and it's hard to save, but maybe you’ll start next year, or the year after. Future You desperately wishes he could convince you that you could live quite happily on 10% less money and then save the rest. The next day, Future You sees somebody who looks exactly like him but 20 years older…
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com