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Financial Advisor Blog

Topics include sudden wealth, financial retirement planning, personal and business finance.


How to Control Excessive Shopping

Can shopping become addictive? I’ve worked with people from vastly different backgrounds who have become shopaholics — from sudden wealth recipients who’ve come into millions of dollars to the unemployed and destitute who cannot control their shopping addiction. Most recently Dr. Drew and I recently taped an episode on the Ricki Lake Show where we…

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Should You Ever Invest in a Timeshare?

Many buyers come to regret their decisions. Thinking about buying a timeshare? You may want to think twice about it. While some people buy timeshares and love them, many question their choice after an initial honeymoon period. Years later, they realize that they have bought more than part-time use of a resort property – they…

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Financial Education: 2012/2013 Financial To-Do List

Things you can do before and for 2013.  What financial, business or life priorities do you need to address for 2013? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as…

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Major Risks To Family Wealth

Will your accumulated assets be threatened by them? All too often, family wealth fails to last. One generation builds a business – or even a fortune – and it is lost in ensuing decades. Why does it happen, again and again? It is because families fall prey to serious money blunders – old and new.…

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How Can I Retire: Major Retirement Planning Mistakes

Why are they made again and again? Much has been written about the classic financial mistakes that plague start-ups, family businesses, corporations and charities. Aside from these blunders, there are also some classic financial missteps that plague retirees. Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment.…

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An Estate Planning Checklist

Things to check and double-check before you leave this world. Estate planning is a task that people tend to put off, as any discussion of “the end” tends to be off-putting. However, those who leave this world without their financial affairs in good order risk leaving their heirs some significant problems along with their legacies.…

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Estate Taxes: What is the Estate Tax?

Estate planning is not just for the very wealthy.  What is the estate tax? You have an “estate”. It doesn’t matter if you own a mansion or a motor home. Rich or poor, when you die you leave behind an estate. For some, this could be real property, an investment portfolio and more. For others,…

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What is a Trust? The Fine Art Of Flexible Estate Planning

Specialized trusts & private loans can help address some “what ifs”. Estate planning professionals have to deal with ambiguities today. Constant tax law revisions aside, there are contingencies of family life that may require added flexibility in estate planning. Fortunately, there are tools that can help to arrange it. Standby trusts. As the name implies,…

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Inheritance: What Beneficiaries Need To Know

What do you do when an account owner passes away? If your loved ones have invested, saved or insured themselves to any degree, you may be named as a beneficiary to one or more of their accounts, policies or assets in the event of their deaths. While we all hope “that day” never comes, we…

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Tax Efficiency In Retirement

How much attention do you pay to this factor? Could you end up paying higher taxes in retirement? Do you have a lot of money saved in a 401(k) or a traditional IRA? If so, you may be poised to receive significant retirement income. Those income distributions will be taxed. As federal and state governments…

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