Thursday, May 25, 2017

Being Smart With $$ -- Don't spend $100k today if you can only spend $30k tomorrow


Are you living a $100,000 per-year life now with retirement around the corner that will be a $30,000 per-year life then?  Wouldn’t it make sense to create a financial plan so you know what to expect and then make adjustments accordingly?  Keeping your head in the sand is not a great way to prepare for the future.  Hourly, fee-based financial planners can help you make such a plan and get your head back to where it belongs with NO commissions and NO automatic, recurring fees.

- Larry Pike, CFA, Client Priority Financial Advisors LLC

- www.clientpriority.com 

Friday, May 5, 2017

Being smart with $$ -- Stock picking is hard! Just ask Warren Buffet


Stock picking is hard! Just ask Warren Buffet. The Oracle of Omaha started buying IBM 6 years ago and it became one of his biggest positions. The problem is, it didn't do so well. IBM is down about 9% from 6 years ago while an unmanaged S&P 500 index fund is up about 75% in the same time. And now he announced on CNBC he's cutting bait and has recently sold 1/3 of his position (possibly at an average price that's a little better than today's quote). That hurts! It should be noted that Buffet's overall performance which includes all his holdings has held in better. But it's no wonder that he doesn't want anyone picking stocks for his wife's portfolio after he's gone; he announced he wants her stock money in low-cost, unmanaged index funds. 

- Larry Pike, CFA, Client Priority Financial Advisors LLC

- www.clientpriority.com 

Wednesday, May 3, 2017

Being smart with $$ -- Retirement Requires Planning


Financial Planning, believe it or not, includes a plan.  Meeting goals requires having goals.  When you reach retirement age, you can retire.  But HOW you retire is the question.  Having the kind of retirement you envision may depend on setting goals and following a plan.  No planning may lead to….well, we don’t know because there’s no plan.  Now is the time to create that plan.  Simply wishing for the best is not enough.

Larry Pike, CFA