Pension Consultants, Inc. tops the list of the area’s largest certified financial planner professionals (CFP®) in the January 18-24, 2016 print edition of the Springfield Business Journal. The article ranks southwest Missouri area companies by the number of certified financial planner (CFP®) professionals and then by financial planning staff. Pension Consultants retains their number one ranking from the previous year. The article also lists assets under management (AUM) and assets under advisement (AUA), and services offered. Listed services include retirement plan management, individual retirement planning, investment management, financial planning, and more.
At some point in time you might have heard a familiar phrase used among financial advisers when they talk about building a portfolio, “Don’t put all your eggs in one basket.” Many times they are referring to the importance of having an asset allocation strategy.
An asset allocation strategy should represent the risk an investor is willing to take by investing monies ‘eggs’ in the various asset classes ‘baskets’ for a desired potential return. Continue reading
Do you act the same today as you did 20-30 years ago? Do you live the same lifestyle and spend the same amount of money at age 50, as you did at age 25? If these questions seem ridiculous, why would you expect anything different from your retirement years? When you think about retirement, and even when you are calculating the needed size of your nest egg, you may only be focusing on that first stage of retirement. Continue reading
Successful retirement planning requires successful communication, but why do discussions involving money turn explosive so quickly? And what can we do to defuse the situation, accomplish our goals, and feel good about ourselves and each other when the conversation is complete?
This article completes the discussion opened in an earlier post, “Eight Ways We Sabotage Our Conversations about Money, and How to Avoid Them (Part One)”. Here are the final five:Continue reading
Sue looks back to the events surrounding the disposition of her father’s estate and says, “I’ll never talk to my sister again.” Ron remembers conversations with his siblings about his mother’s long-term care expenses and realizes he’s not going to enjoy the next family gathering, and may not even attend.
Successful retirement planning is not possible without successful communication, but think about the last conversation you had with a family member about money. Was it a pleasant experience or one filled with tension and stress? Did it help you accomplish your goals or leave you feeling frustrated about unresolved issues?Continue reading
One of the greatest risks to a successful retirement is out-living your assets. This could be caused by unaccounted-for inflation, uninsured medical expenses, or just living a lifestyle your assets cannot support for the long term. But sometimes you can save tenaciously, plan fervently, live frugally, adhere to all commonly accepted investing principles and still have your retirement nest egg dwindle. One possible cause of this scenario could be the risk from your sequence of returns.
Sequence of returns risk can be summarized as the risk from the order in which investment returns occur and the impact it has on the longevity of withdrawals available during retirement. Table 1 shows a very basic example:Continue reading
At some point, as we progress through life, we wake up and discover that our financial situation is not as simple as it once was. It may happen all at once, following a marriage or a divorce, an inheritance or a business opportunity. Or maybe a need appears gradually, as you advance in your career, pay off some debt, and no longer have the time to keep up with things. No matter the reason, we will probably all need the assistance of a financial adviser at some point in our lives. An adviser is normally defined as someone who offers advice either for an hourly or asset-based fee. (This is different than a broker, who offers to place a transaction for a commission but does not offer advice.) But how do you select that individual to be your adviser? Anyone can call themselves a “financial adviser,” but you should rely on the four E’s to make sure you select the right adviser.Continue reading