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Financial Advisor Blog

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


Are You Investing Too Much in Company Stock?

Have you invested too much of your 401(k) in company stock? This can happen – and you may not be fully aware of it. Back when corporations offered traditional pension plans, the federal government watched out for this tendency. In 1974, the Employee Retirement Income Security Act (ERISA) made it illegal for pension plans to…

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Audit Red Flags: What Raises Eyebrows at the IRS?

Are you worried about being audited? The fear may be overblown – according to Internal Revenue Service data, only 1% of taxpayers had their federal returns examined in 2012. Last year, 12.1% of millionaires had their returns scrutinized, down from 12.5% in 2011. The agency reviewed only 0.6% of returns sent in by taxpayers making…

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A Painfully Honest Conversation (Video)

This video would be hilarious if it weren’t so true! I just don’t understand why ALL advisors wouldn’t want to put their client’s interests first. It’s called fiduciary duty and it is one of the most important requirements when looking for a financial advisor who will give you advice.

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You Won’t Believe This…

For years, consumer groups and rival industry factions have battled — before Congress, the Securities and Exchange Commission and, of course, the press — over whether that “advice” should be required to be in the client’s best interest (the so-called fiduciary standard) or merely “suitable.” Under current rules, advisers can adhere to either one of…

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Sudden Wealth Tip From Minecraft Creator

There is a very interesting article in this week’s New Yorker magazine about Markus “Notch” Persson, his rise to fame as the creator of the Minecraft video game, and how he is handling his sudden wealth. Here’s one of his comments: “The money is a strange one,” he says. “I’m slowly getting used to it,…

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Mistakes Families Make with 529 College Savings Plans

Most families that start 529 college savings plans have done their “homework” about these programs. Missteps are made, though, often with the distribution of 529 plan assets. Here are some of the major gaffes, and the major factors anyone should think about before enrolling. Assuming a university will withdraw 529 plan assets for you. When…

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Make More Than $1 Million? You Won’t Like This…

Did you make more than $1 million in 2012? Prepare for an IRS audit. While the IRS said it examined just under 1% of all tax returns filed and about 1% of all individual income tax returns during 2012, the IRS examined 12.1% of the 337,477 tax returns reporting income of $1 million or more!…

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Office Pool Wins Lottery…But You Didn’t Play!

Imagine this . . . your co-worker comes by your office and tells you everyone is putting in $20 to play this week’s big lottery. You think about it, but then consider your odds of winning and tell your colleague, “No thanks.” To your shock and amazement, the next day your co-workers win $1 million.…

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Still Need to File Your Taxes? Here’s a Few Tips

As April 15 gets closer, many Americans still haven’t filed their taxes. You may be one of them. As life requires us to do so much in so little time, it is understandable. If you are getting around to your taxes now, here are some things you may want to think about. Consider turning to…

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Estate Planning: What You Need to Know

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. No matter what your age, here are some things you…

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