Financial Planning

Staying on Track with Your Retirement Investments

July 23, 2020 by Hans Blake, CFA, CPA

Reading Time: 4 minutes

Compounding is your best friend

It’s the “rolling snowball” effect. Put simply, compounding pays you earnings on your reinvested earnings. Here’s how it works: Let’s say you invest $100, and that money earns a 7% annual return. At the end of a year, the $7 you earned is added to your $100; that would give you $107 in your account. If you earn 7% again the next year, you’re earning 7% of $107 rather than $100, as you did in the first year. That adds $7.49 to your account instead of $7. In the third year with a 7% return, you’d earn $8 and have a total of $122. Like a snowball rolling downhill, the value of compounding grows the longer you leave your money in the account. In effect, compounding can do some of the work of building a nest egg for you.

The longer you leave your money at work for you, the more exciting the numbers get. For example, imagine an investment of $10,000 at an annual rate of return of 8%. In 20 years, assuming no withdrawals, your $10,000 investment would grow to $46,610. In 25 years, it would grow to $68,485, a 47% gain over the 20-year figure. After 30 years, your account would total $100,627. (Of course, these are hypothetical examples that do not reflect the performance of any specific investment and assume that no taxes are paid or withdrawals are made during that time.)

If your workplace savings plan contributions are made pretax, as most people’s are, compounding really becomes a powerful force. Not having to pay taxes from year to year on either your contributions or the compounded earnings helps your savings grow even faster (though you’ll owe taxes on that money when you start withdrawing from your account). The value of compounded tax-deferred dollars is the main reason you may want to fully fund all tax-advantaged retirement accounts and plans available to you, and start as early as you can. Investing money over time can help compounding produce potentially significant returns. With time on your side, you don’t necessarily have to aim for investment “home runs” in order to be successful.

Diversify your investments

Asset allocation is the process of deciding how to spread your dollars over several categories of investments, usually referred to as asset classes. A basic asset allocation would likely include at least stocks, bonds, and cash or cash alternatives such as a money market fund. The term “asset classes” also may refer to subcategories, such as particular types of stocks or bonds.

Asset allocation is important for two reasons. First, the mix of asset classes you own is a large

factor–some say the biggest factor by far–in determining your overall investment portfolio performance. How you divide your money between stocks, bonds, and cash can be more important than your choice of specific investments. Second, by dividing your portfolio among asset classes that don’t respond to market forces in the same way at the same time, you can help minimize the effects of market volatility while maximizing your chances of long-term return. Ideally, if your investments in one class are performing poorly, assets in another class may be doing better and may help stabilize your portfolio.

Remember that during any given period of market or economic turmoil, some asset categories and some individual investments historically have been less volatile than others. You can manage your risk to some extent by diversifying your holdings amongvarious classes of assets, as well as different types of assets within each class. Taking steps that can help manage the amount of volatility you experience can help you stay with your game plan over the long term.

Take advantage of dollar cost averaging

One of the benefits of participating in your workplace savings plan is that you’re automatically using an investment strategy called dollar cost averaging. With dollar cost averaging, you acquire shares of an investment by investing a fixed dollar amount at regularly scheduled intervals over time. When the price is high, your investment buys less; when prices are low, the same dollar investment will buy more shares. A regular, fixed-dollar investment should result in a lower average price per share than you would get buying a fixed number of shares at each investment interval.

The accompanying graph illustrates how share price fluctuations can yield a lower average cost per share through dollar cost averaging. In this hypothetical example, ABC Company’s stock price is $30 a share in January, $10 a share in February, $20 a share in March, $15 a share in April, and $25 a share in May. If you invest $300 a month for 5 months, the number of shares you would buy each month would range from 10 shares when the price is at $30, to 30 shares when the price is $10. The average market price is

$20 a share ($30+$10+$20+$15+$25 = $100 divided by 5 = $20). However, because your $300 bought more shares at the lower prices, the average purchase price is $17.24 ($300 x 5 months = $1,500 invested divided by 87 shares purchased = $17.24).

In addition to potentially lowering the average cost per share, investing the same amount regularly automates your decision-making, and can help take emotion out of investment decisions.

Stick to your strategy

Try to resist the impulse to change your investment strategy with every news headline or investing tip from a relative or coworker. Timing the market correctly is very difficult; even professionals find it a challenge. Most people fare better by having an investment game plan that can weather good times and bad, and then sticking to it. That doesn’t mean you should simply forget about your investments altogether. At least once a year, you should review your portfolio to see if your choices are still appropriate. Even if your circumstances haven’t changed, market movements can affect how your money is divided among various types of investments. For example, if one type of asset has been very successful, it may now represent too large a share of your holdings. To rebalance your portfolio, you could sell some of an asset that’s now larger than you intended and buy more of a type that is lower than desired. Or you could keep your existing allocation but shift future investments into an asset class you want to increase. But if you don’t review your holdings periodically, you won’t know whether a change is needed.

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Source: Some of the material comes from Broadridge Investor Communication Solutions, Inc.

Getting Help from a Financial Professional

June 26, 2020 by Hans Blake, CFA, CPA

Reading Time: 4 minutes

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events, such as marriage, divorce, the sale of a family business, or a career change? Too busy to become a financial expert but need to make sure your assets are being managed appropriately? Or maybe you simply feel your assets could be invested or protected better than they are now.

These are only some of the many circumstances that prompt people to contact someone who can help them address their financial questions and issues.

This may be especially true for women, who live longer than men on average and therefore may face an even greater challenge in making their assets last over that longer life span. If you are a women facing greater responsibility due to a divorce or death of a spouse, please visit our women and widows page.

Why work with a financial professional?

A financial professional can apply his or her skills to your specific needs. Just as important, you have someone who can answer questions about things that you may find confusing or anxiety-provoking. When the financial markets go through one of their periodic downturns, having someone you can turn to may help you make sense of it all.
If you don’t feel confident about your knowledge of investing or specific financial products and services, having someone who monitors the financial markets every day can be helpful. After all, if you hire people to do things like cut your hair, work on your car, and tend to medical issues, it might just make sense to get some help when dealing with important financial issues.
Even if you have the knowledge and ability to manage your own finances, the financial world grows more intricate every day as new products and services are introduced. Also, legislative changes can have a substantial impact on your investment and tax planning strategy. A professional can monitor such developments on an ongoing basis and assess how they might affect your portfolio.
A financial professional may be able to help you see the big picture and make sure the various aspects of your financial life are integrated in a way that makes sense for you. That can be especially important if you own your own business or have complex tax issues.
If you already have a financial plan, a financial professional can act as a sounding board, giving you a reality check to make sure your assumptions and expectations are realistic. For example, if you’ve been investing far more conservatively than is appropriate for your goals and circumstances, either out of fear of making a mistake or from not being aware of how risks can be managed, a financial professional can help you assess whether and how your portfolio might need adjusting to improve your chances of reaching those goals.

When should you consult a professional?

You don’t have to wait until an event occurs before consulting a financial professional. Having someone help you develop an overall strategy for approaching your financial goals can be useful at any time. However, in some cases, a specific life event or perceived need can serve as a catalyst for seeking advice. Such events might include:

Marriage, divorce, or the death of a spouse
Having a baby or adopting a child
Planning for a child’s or grandchild’s college education
Buying or selling a family business
Changing jobs or after a layoff
Planning your retirement
Developing an estate plan
Receiving an inheritance or financial windfall

Making the most of a professional’s expertise

You’ll need to understand how a financial professional is compensated for his or her services. Some receive a fee based on an hourly rate (usually for specific advice or a financial plan), or on a percentage of your portfolio’s assets. Some receive a commission from a third-party for any products you may purchase. (Intelligent Investing never sells any products or gets paid from any third-party). Still, others may receive some combination of fees and commissions, while still others may simply receive a salary from their financial services employer. Don’t be reluctant to ask about fees; any reputable financial professional shouldn’t hesitate to explain how he or she is compensated.
Even if you’re a relative novice when it comes to finances, don’t be afraid to ask questions if you don’t understand what’s being presented to you. You’re not being rude; you’re simply trying to prevent misunderstandings that could backfire later.
Don’t let yourself be pressured into making a financial decision you’re not comfortable with or don’t understand. This is your money, and you have the right to take whatever time you need. However, give yourself a deadline for your decision so you don’t get caught in “analysis paralysis.”
Think about the scope of the services you’ll need. Do you want comprehensive help in a variety of areas, or would you be better off assembling a team of specialists? Do you need an ongoing relationship, or can your needs be taken care of on a one-time basis? If you’re a relative novice or having to deal with decisions you’ve never had to make before, someone with broad-based expertise might be a good place to start. Even if you feel you need detailed advice from several different specialists — for example, if you own your own business — consider whether you might benefit from having someone who can coordinate among them. A financial professional can sometimes be a gateway to other professionals who can help with specific aspects of your finances, such as accounting, tax and/or estate planning, insurance, and investments.

We are here to help

When considering employing a financial professional, try to determine whether the individual or firm has experience in dealing with situations similar to yours. If you have substantial assets, you may require someone with a broader range of expertise than would be needed if your finances were relatively simple If you feel that consulting an expert might be helpful, don’t postpone making that call. The sooner you get your questions answered, the sooner you’ll be able to pay more attention to the things — family, friends, career, hobbies — that an organized financial life could help you enjoy.

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Source: Some of the material comes from Broadridge Investor Communication Solutions, Inc.

Your Retirement Journey- How It Compares To Climbing Mount Everest (Part 4 of 4)

May 27, 2020 by Tom Theodore, CFP®

Choice

Reading Time: 4 minutes

How to Choose Your Sherpa- A Retirement Guide Can Be Helpful

As a reminder from our previous blog, climbing Mount Everest successfully has been a goal of many people. Few have attempted it, and fewer still have done so successfully. Mt. Everest was first conquered by Sir Edmund Hillary and Nepalese Sherpa mountaineer Tenzig Norgay in 1953. Even though Nepal issued a record 381 permits in 2019, last year’s climbing season had a limited number of good weather days, leading many people to set out at once when the skies cleared and the winds seemed calm. Unfortunately, this caused crowding, and at least 11 people died last May, even though most were experienced trekkers.

After last year’s record deaths on Everest, people seem more aware of the importance of Norgay these days and that is entirely appropriate. Sherpa people are one of the ethnic groups native to the most mountainous regions of Nepal and the Himalayas. Many Sherpa are highly regarded as elite mountaineers and experts in their local area. They were immeasurably valuable to early explorers of the Himalayan region, serving as guides at the extreme altitudes of the peaks and passes in the region, particularly for expeditions to climb Mount Everest. Sherpas are renowned in the international climbing and mountaineering community for their hardiness, expertise, and experience at very high altitudes. It has been proven that part of the Sherpas’ climbing ability is the result of a genetic adaptation to living in high altitudes.

We believe the best Sherpas in the financial world are 100% fee-only fiduciary firms. Unlike brokers who make money based on commissions, fee-only fiduciary firms must act in clients’ best interest at all times and are paid only by their clients. Fee-only means they don’t sell products and are paid based on the assets that they manage. We believe this removes potential conflicts of interest and places them on the same side of the table as their clients. The Sherpas’ job is the explorer’s safety and well-being on the trek, not to sell you trekking gear.

For decades, Sherpas have guided explorers to the top of Mount Everest successfully, and they are responsible for safety, equipment, packing, and the camp. They not only have expertise but also circulatory systems which allow them to physically endure high altitude much easier than normal humans. Having a guide who can provide advice and recommendations can be the difference between life and death. Since climbers burn up to 15,000 calories and lose as much as 20% of their body weight, if a climber suffers unexpected equipment failure, then it is even more important to be extremely prepared. A combination of inexperienced climber and inexperienced guides is a formula for disaster. Bodies are seldom recovered….

There are those who would rather not have a guide as they climb Mount Everest. As of the date of this blog, four people have attempted to summit Mount Everest solo. Two were successful. Two died on Everest. With 50/50 odds, we think it best to have an experienced guide on the journey. We also think that do-it-yourself retirement is similarly foolish. Having an expert that prevents you from slipping and making a costly mistake that affects your entire retirement is worth having.

Just as successfully climbing Everest takes a lot of preparation, the same is true for retirement. Choosing the right guide and the right firm is key. The cheapest guide could end up as the most costly. Our ascent was building our careers, accumulating wealth, and perhaps raising a family. A slip can destroy all of this. Our descent is equally important and potentially equally treacherous. We need to safely finish this round trip adventure so we can start another ascent of our own choosing…

So we need a good plan, to choose the right route and the right guide. Preparedness is key, but the right sherpa is one who has helped others make that round trip successfully, so we have both a successful ascent AND descent.

For many years now, the DALBAR survey has proven that good advisors can add great value for investors. As your guide, or sherpa, we add value in a lot of different ways:

Portfolio Excellence. We locally manage all our portfolios with portfolio management expertise by an in-house Chartered Financial Analyst.
Planning Excellence. We custom design your financial plan along side you. We listen to your personal goals, risk tolerances, and time horizon(s).
Maximizing Time. We use real-time integration of your financial plan, your portfolio, and your risk tolerances.
Minimizing Fees. As an independent advisor, we strive to minimize all fees, including taxes.
Tax and Estate Planning. We have CPA backgrounds and CFP® experience that help us coordinate with your attorney or CPA.
Behavioral Coaching. We guide you through major life decisions and the inevitable emotional periods of bull and bear markets.

At this point in our lives, we can choose the peaks we want to climb. Let’s be sure and make a safe round trip so we can decide what to do in retirement, and not be required to do things we don’t want to do. Here are some of the topics we help our clients solve:

Social Security, retirement plans, pension options and choices;
Income planning and nest-egg distribution (how to not run out of money, income replacement, and budgeting);
Life and long-term care insurance;
Health and wellness;
Tax management and required minimum distributions (RMDs);
Managing debt (if you have it);
Lifestyle decisions;
Aging parents and other dependents;
Estate planning (How much is enough? How much should we leave our heirs? How do we decide who should get what?);
Housing decisions (Should we downsize?).

Intelligent Investing is an independent, fee-only registered investment adviser (RIA) with a fiduciary responsibility to act in your best interest at all times. We are paid only one way–by our clients. Fee-only means we don’t sell any products and are paid based on the assets that we steward. This removes potential conflicts of interest in our advice and places us on the same side of the table as you. We put ourselves in your shoes for every decision we make.

We hope you have enjoyed our mini-blog series on the parallels between climbing Mount Everest and transitioning into Retirement.

To read our other blogs, click below: (NEED TO ADD HYPERLINKS)

The Slippery Slope of COVID-19 (Navigating the Bear Market)- Part 1 of 4
The Slippery Slope of COVID-19 (Beware: Avalanches Lie Ahead)- Part 2 of 4
The Slippery Slope of COVID-19 (The Incredible Cost to Climb Mount Everest)- Part 3 of 4

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Your Retirement Journey- How It Compares To Climbing Mount Everest (Part 3 of 4)

May 20, 2020 by Tom Theodore, CFP®

Reading Time: 2 minutes

The Incredible Cost to Climb Mount Everest- Retirement is Very Expensive

Climbing Everest is expensive. The price range for a standard supported climb ranges from $28,000 to $85,000, and a fully custom climb will run over $115,000 Lots of companies offer climbs of Everest. At the lower end, extreme risk-takers can skimp by spending well under $20,000. When corners are cut when it comes to safety and preparedness, a herd mentality and overcrowded conditions have resulted.

Retirees often take many shortcuts, turning their retirement into a period of regrets. Why do incredibly disciplined professionals make bad decisions? After all, their successful career was not built on shortcuts. The answer is simple. Retirement calls for many one-time life decisions that few are qualified to be making. How do we get good at making decisions? Education and repetitive experience. The problem is, retirees have never gone through retirement before, so they can’t become experienced with making good decisions through repetition. At the same time, these retirees have salespeople pushing financial products (such as annuities) on them.

One shortcut we often see people make is to purchase an annuity they think will “guarantee” them income and remove their fears from market volatility. Unfortunately, the client may not understand the terms of the contract, and this can cost them dearly as there are often surrender periods and hidden fees inside these confusing products. At Intelligent Investing we may be able to provide an “annuity rescue” and would be happy to sit down with you to discuss your options.

There are two sides of Mt Everest, one in Nepal, one in Tibet. The southern route via Nepal is warmer, safer, and Nepal doesn’t limit the number of climbers. The alternate northern route via Tibet is cheaper, more dangerous, and Tibet limits the number of climbers. As in all choices, there are pros and cons.

When it comes to retirement, there are many paths to choose from. Some retirees think it best to “do-it-themselves” because it appears to be cheaper on the surface. Others think it best to purchase an annuity because it appears safer on the surface. However, cheaper and purchasing a murky product may not necessarily be in your best interests. Have you ever gone through retirement before? Have you ever advised other retirees through a successful retirement transition and pathway? Are you an expert when it comes to tax planning and the distribution phase of retirement?

In our next blog, we will cover the next parallel between climbing Mount Everest and transitioning into Retirement. To read about “How to Choose Your Sherpa,” click here.

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Your Retirement Journey- How It Compares To Climbing Mount Everest (Part 2 of 4)

May 13, 2020 by Tom Theodore, CFP®

Reading Time: 2 minutes

Beware: Avalanches Lie Ahead- Retirement Income Planning is Vital

Everest is approximately 29,029 feet, and above 26,000 is known as the “death zone.” Sudden weather changes and avalanches are common. Bad weather and overcrowding can create very short windows of opportunity to summit, and climbers race to finish when caution is more advisable. Many things can cause deaths on these climbs but poor physical conditioning and crowded conditions are prominent. Some climbers wait 24 hours at a lower altitude to better acclimate to the climate and also have extra oxygen brought up. Those who are impatient put themselves in danger. The phrase, “Haste makes waste” comes to mind. The bottom line…extreme mental and physical endurance are necessary to climb Mt. Everest successfully.

When it comes to investing, avalanches are the unforeseen crises or bear markets that come out of the blue. When a crisis hits, many people want to abandon their portfolio because they didn’t have a plan in place. During such crises, having a sherpa can help. Sherpas are the indispensable native guides successful climbers use. Their special knowledge and experience save lives every year. During those bear markets, the right thing may be to not react, rebalance your diversified portfolio, stay on the path to your goals, and maintain your commitment to follow your sherpa.

Adrian Ballinger of Alpenglow Expeditions says “meticulous preparation” is necessary. He is one of approximately 100 successful climbers who have done so without oxygen. It took him several years preparing, and the attempt almost cost him his life. He says if Everest was 15 feet higher, he would have likely failed.

If professionals can barely make it to the top, what chance would amateur or basic climbers even have?

As retirement sherpas, we believe that meticulous preparation is vital for a successful retirement. As your guides, we provide planning strategies and recommendations to help ensure you are mentally, socially, and financially prepared for a smooth and successful spend-down phase of your life.

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Your Retirement Journey- How It Compares To Climbing Mount Everest (Part 1 of 4)

May 6, 2020 by Tom Theodore, CFP®

Avalanche

Reading Time: 3 minutes

The Slippery Slope of COVID-19- Navigating the Bear Market

Sadly, for many retirees, the slippery slope of retirement transition just got a lot more dangerous.

Unfortunately, as the world scrambles to deal with this pandemic medically, the economic fallout is also beginning to be felt. For those senior employees just a few short years away from retirement, it may be necessary to plan for an early exit. Most of us don’t work for companies making masks or vaccines and job security has become a real concern. While our thoughts and prayers are with patients, families, doctors, nurses and first responders, the medical crisis will certainly cause financial hardship for many. What we thought to be a walk in the park or a short hike has just become mountaineering. Retiring during a bear market or recession is something we can plan for, but it is quite different than planning to retire during a bull market.

We founded Intelligent Investing to minimize financial stress to maximize our clients’ lives, especially during these current stressful times. We combine world-class credentials and experience in both financial planning and investment management, along with over thirty different technology integrations to help our clients cope with their major life events.

Climbing Mount Everest successfully has been a goal of many people. Few have attempted it, and fewer still have done so successfully. Mt. Everest was first conquered by Sir Edmund Hillary and Nepalese Sherpa mountaineer Tenzig Norgay in 1953, and Hillary still features prominently on the New Zealand five-dollar bill. Even though Nepal issued a record 381 permits in 2019, last year’s climbing season had a limited number of good weather days, leading many people to set out at once when the skies cleared and the winds seemed calm. Unfortunately, this caused crowding, and at least 11 people died last May, even though most were experienced trekkers.

What caused those deaths, and what lessons can we apply to retirement and investing? There are many parallels between the climbers of Everest and retirees making a retirement transition. We will be covering additional parallels in future blogs, but to start, here’s the first one we observe.

The Descent Is Riskier Than the Ascent

One of the interesting things about Everest is that many deaths occur on the descent, not the ascent. In fact, depending on the years measured, over half of deaths are on the descent, and almost 20% occur to climbers who turn back.

Climbers spend their energy getting to the peak and are tired and less focused on the descent. Many die because they become careless once they reach the summit. After all, the goal is not just to climb to the top, but to make it down the mountain to be able to tell about it.

When it comes to careers and investing, many people have successfully climbed the corporate ladder and have a sizable nest egg. They faithfully contributed regularly to their retirement plan, or perhaps they were fortunate enough to have a pension plan. The natural compounding of their investments over their careers has produced a decent nest egg. Now they have reached the time to successfully spend down their nest egg in retirement or preserve it for the next generation.

Often, these successful executives and pre-retirees come to the realization that they aren’t sure what their next step should be as they perhaps planned more for their European cruise, than their actual retirement goals. When they step back or are forced to exit corporate America, they haven’t thought about how their nest egg will produce their retirement income and whether it will be enough. They haven’t thought about how expensive retirement can be, how many years they will be in retirement, and if their portfolio will be sufficient.

Successfully descending the other side of the retirement mountain and spending down our assets is often riskier than the accumulation phase of our lives. If we slip (go through a bear market or have an emergency need) while we are young, we can recoup the loss through our earning potential and our financial investments have more time to bounce back. In retirement, our income potential has fallen and our time horizon is shorter. The thought of running out of money while in retirement can be scary, and you don’t want to be forced to reclimb the mountain by getting another job, or worse going into debt.

Running out of money in retirement can be disastrous and affects our finances, our lifestyle, our health, and our loved ones. Many people work by choice in retirement, but working out of necessity or going into debt are not great options. The retirement transition is a slippery slope indeed.

Therefore, having a plan for both your ascent and descent is critical to success.

In our next blog, we will cover the next parallel between climbing Mount Everest and transitioning into Retirement.

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Remarriage Can Be a Tough Conversation

March 4, 2020 by Hans Blake, CFA, CPA

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Reading Time: 2 minutes

On today’s Intelligent Money Minute, we’ll interview Kathleen Rehl on how remarriage can be a tough conversation. Kathleen gives advice on how to have the conversation of remarriage with your widowed clients. Speaking from personal example, she shares the process of becoming ready to remarry. She also sheds light on the types of conversations she and her new husband have had. Of top priority was the communication with and among their children. Also of importance was discussing their finances (i.e. estate plans, housing, prenuptial agreements, etc.) Maximizing communication with family and a new spouse is imperative because of the deep emotions that can be involved. A helpful article for having this conversation with your client can be found here.

As Kathleen mentioned, money can be a topic that can divide spouses and family members. At Intelligent Investing, one of our unique factors that makes us different is how we strive to unify families in financial communication. We’d love to be the bridge between spouses and multiple generations to make sure everyone is on the same page when it comes to money. To learn more about our unique factors visit What Makes Us Different.

On upcoming podcasts, Kathleen will talk about the three stages of widowhood- Grief, Growth, and Grace, so be sure to subscribe by clicking here.

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

Common Mistakes by Pre-Retirees

February 26, 2020 by Hans Blake, CFA, CPA

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Reading Time: 2 minutes

On today’s Intelligent Money Minute, we’ll interview Larry Swedroe on common mistakes made by pre-retirees. Larry discusses several mistakes he has noticed made by pre-retirees. To begin, he states the well-known phrase, “Those who fail to plan, plan to fail.” Though a pre-retiree may have a well-thought-out investment plan, a plan must be made for a successful life after retirement. This can create a complex problem because necessary “ingredients” are left out. Important issues to consider are estate planning, long-term care, and elder abuse. Most noted is the need for a good wealth advisor or quarterback. A good wealth advisor incorporates all of the issues and creates a comprehensive plan. In conclusion, the financial advisor should coordinate with all involved: the tax advisor, the estate planning attorney, the family members, and, most importantly, the client.

We know you’ve worked hard over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that are important to you. But to ensure that your legacy reaches your heirs as you intend, you must make the proper arrangements now. We’d love to grab a coffee to see how we may best serve you and your family.

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We’ll be interviewing Larry on several podcasts regarding markets, passive investing, and diversification, so be sure to subscribe to our Intelligent Money Minute podcasts.

Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has since authored seven more books.

Larry Swedroe Bio

Since joining the Buckingham Strategic Wealth in 1996, Chief Research Officer Larry Swedroe has spent his time and energy educating investors on the benefits of evidence-based investing.

In his role as chief research officer and as a member of the firm’s Investment Policy Committee and Board of Directors, Larry regularly reviews the findings published in dozens of peer-reviewed financial journals, evaluates the outcomes and uses the result to inform the firm’s formal investment strategy recommendations.

Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television shows airing on NBC, CNBC, CNN and Bloomberg Personal Finance. Larry is a prolific writer, contributing regularly to multiple outlets, including Advisor Perspectives and ETF.com.

Before joining Buckingham, Larry was vice chairman of Prudential Home Mortgage and senior vice president at Citicorp.

Larry holds an MBA in finance and investment from NYU and a bachelor’s degree in finance from Baruch College.