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Wealth Management 101 

Latest From My Personal Finance Blog

In Praise of Simplicity: Tips for a Healthy Portfolio

All too often, clients come to me with investment ideas they like. Some are good and some are not so good, but many of them are complex. As humans, we are often seduced by complexity, as though the more glamorous or intricate an investment instrument is, the better it must be. Why own a set of simple and low cost index funds when you can buy a hedge fund? Why buy and hold when you can trade actively? Is the market falling? Why not short some stocks?! Just think of the possibilities!

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How Do Taxes Work?

The U.S. tax code is a mystery to the typical individual. But federal taxes (not to mention state and local taxes) are a big expense for most of us — and most of us are interested in paying less in taxes. But you can’t mitigate what you don’t understand. In this installment of Wealth Management 101, I’m going to lay out the most common types of federal taxes we all pay, give you some insight into how each works, and outline ways to potentially lower your tax bill.

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What's an IRA? Do I Need One?

Around this time of year, we get at least one or two incoming phone calls from people wishing to set up and fund IRA accounts right before the tax filing deadline, because their CPA told them they needed one for tax reasons. In the spirit of the season (and with the hope that you won’t wait until 24 hours before the deadline to act), I’m going to outline the whats, whys, and hows of IRAs.

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Want To Be Wealthy? Then Plan On It

Add this to the long list of things I hear that drive me crazy: “Financial Planning is just for rich people.” Let me say it louder for the people in the back: In general, you don’t become rich (or wealthy) without planning to do so. I understand that you may be skeptical, so please allow me to break down my passionate argument for the value of Financial Planning in your long march toward wealth.

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What Is Financial Fitness?

The New Year often brings thoughts of getting back in shape — getting fit. Yes, I know that usually means physically…but why not financially? Thing is, few of us know what it really means to be financially fit. And even fewer of us know how to get there. This article will cover the five key elements of financial fitness and how to achieve them.

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