The terms Fee-Only, Fee-based and Fiduciary can be confusing. Complicating matters more, a lot of financial advisors can answer “yes” when asked if they are a fiduciary. Not as many can answer “yes” if asked if they are a fiduciary at all times. Listen to this episode to learn about the different types of Fiduciaries […]
Ep. 2 What does Fee-Only, Fee-based and Fiduciary Mean? Read More »
Annuities Without Commissions At its most basic, an annuity is a contract where you give an insurance company a sum of money and they promise to pay you an income stream for a specific period of time, often your entire life. There are tons of flavors however. This article is not intended to discuss all
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Retirement planning for single people has its own unique set of challenges and opportunities. Maybe you are a widow (widower), divorced or you never got married. While it’s true that in some ways retiring single is less complex, it is also true that other aspects are more complex. Let’s look at some of those unique
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A shorter version of this post originally appeared on the HumbleDollar, a blog I have long admired and one which I am honored to have had an article published on. You can read that version here. ** A Better Way to FIRE FIRE stands for Financial Independence, Retire Early. The idea is to get
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Ultimate Responsibility There is a financial responsibility spectrum. In some households, managing the finances is fairly equal. In fact, it is more and more common for spouses to keep their finances separate so the responsibility is 100% for each. Other households have one spouse that handles the finances much more than the other, even to
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I don’t remember when I first read the parable of the Mexican Fisherman, but I still remember how it resonated with me. I’m going to expand on this in the next few weeks with a concept I’m calling Financial Independence, Redistribute Retirement™ (FIRR™), which is in contrast to the more popular FIRE movement. Update: Read
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Retirement planning for people in their 30s and 40s Retirement planning for people in their 30s and 40s looks different from traditional retirement planning. In fact, saving into retirement accounts is probably the extent of what most people would consider retirement planning for younger people. That’s actually a great start. This is because most people
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Retirement Planning For Teachers Planning for retirement is hard enough, but retirement planning for teachers can be even harder. If you are a Baltimore City Public Schools teacher, you may be confused about your 403b options. That is why it is so angering to know that average 403b fees are up to 3 times
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