The tactic of withdrawing from an account that rises or falls with the market can be debilitating to your wealth. You are at the mercy of  sequence of return risk (the potential consequences of a bad sequence of returns) at the time you begin withdrawing money from your investments (reverse dollar cost averaging). If those […]

According to an AARP study*, more retirees fear running out of money than they fear death. You deserve to have power over your finances and the opportunity to live a life unencumbered by financial worry. The First Step Cash Management system** can help ease some financial worries as it allows cash to flow into three […]

By hiring a good advisor, you could be gaining a world of expertise; however, you should still feel firmly in control of your destiny. You are the CEO or chief executive officer of your wealth. A good CEO hires a CFO or chief financial officer, who runs the daily affairs of the company. The CFO […]

I often use the analogy of sailing and rowing to explain how to manage money wisely. There are two strategies for sailing, when you are making the most of a favorable wind. There are two other strategies for rowing, when you are trying not to fall behind and lose your way in a storm. The […]

“Do you have a written plan forecasting income and expenses in retirement, designed to analyze whether or not you may run out of money?” You need a financial plan in place while you are alive and for the sake of your loved ones when you are gone. It eliminates guessing. It is indeed the fear […]

Throughout your search and preparation for retirement, you might have heard of the Rule of 100, which suggests that if you subtract your age from 100, the result is how much of your portfolio should be invested in stocks, with the remainder in bonds. Presumably, that would keep your investments diversified. However, that’s not true […]