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An Innovative Perspective on Capital Gains Taxes and Concentrated Positions

An Innovative Perspective on Capital Gains Taxes and Concentrated Positions I was recently helping a client with $1 million of highly appreciated employer stock in the company for whom they work. The concentrated position had a $500...

Second Homes, Vacations, And Our “Give Yourself Permission Framework”

Winters in Minnesota are terrible—I get it. All it took were two consecutive 40-below-zero mornings in the 1990s, and I decided to move away for college. It was off to sunny California for me, and I didn’t return for...

What if College Is On Hold?

If you have a child or grandchild who doesn’t seem to be on track to attend college, this note may be of interest to you. Investments in a college savings plan might need extra attention if the child does not intend to pursue a...

What Issues Should I Consider When Moving Out Of State?"

Please Try to Make Sure Nobody Steals From You

Please try to make sure nobody steals from you, including your credit cards of course, bank statements, but perhaps more importantly from your retirement accounts. Look every month to make sure if there are distributions, that they...

What Issues Should I Consider Regarding My Restricted Stock Units?

Checklists Are a Life Hack - Here Are Our Best Ones

Life is complicated. Lists help get stuff done. Here is a list of our best financial planning checklists and flow charts. They can help with tax and estate planning, stock options, Social Security, and so much more!

Fraud Lesson Learned - Check Your Accounts Regularly

We have been asking clients to check their statements closely for years now. Unfortunately, fraud is on the uptrend, and the people targeting you are getting much better. The big thing is to promptly check the withdrawals area on the...

An Important Medicare Tip From a Recent Enrollee

A friend of mine recently enrolled in Medicare for the first time and faced an interesting situation that I wanted to share. This friend is a very detail-oriented accountant—not surprisingly, he even took Medicare classes to...

The Email Below Looks Routine Right?

Can you spot the tell? If you clicked on it, you could have opened up your whole computer to hackers. Please be very careful clicking on emails supposedly from banks, brokerages, and credit card companies; go to the site directly...

2021 Mid-Year Market Outlook: Peak or Pause?

As a result of the pandemic, the U.S. economy and corporate earnings essentially went from a depression-like bust to a wartime-like boom in the span of a year. Companies cut operations to the bone amid the early phase of the pandemic,...

What Issues Should I Consider When Starting Out Financially?

What Issues Should I Consider For My Child With Special Needs?

If you know someone who is grieving, these notes may be helpful

These notes are "rough", so here you go. I hope you find a thing or two that can help. Thanks for taking a look, Tom Amy Florian has taught me some helpful things about people going through tremendous grief. Amy is a...

Generous to a Fault

Generous to a Fault Several times in my career, I've helped people who are so generous with charities that I worry about them running out of money. Can Someone Be Too Generous? I’m not sure how true it is, but I’ve heard...

What Will Have The Least Tax Impact: Harvesting Capital Gains Or Roth Conversions?

Three Advanced Charitable Giving Strategies

Three Advanced Charitable Giving Strategies Our clients have been more generous than ever as financial markets have performed so well of late. A recent situation involved a large gift from the proceeds of an estate, while there have...

Should I Establish A SEP Or A SIMPLE IRA For My Small Business?

As A High-Income Taxpayer, How Might President Biden’s Tax Plan Affect Me?

If You Are Worth More Than Three Million Dollars and Live In Minnesota

If your net worth is near or above three million dollars, this quick note is for you. Please consider talking to your estate planning attorney about your situation before the year is up. Timing is everything, and the federal estate tax...

Do I Need To Start Making Estimated Federal Income Tax Payments?

I once saw my friend win $17,000 at Blackjack

It was 20 years ago, and not that $17,000 isn't a lot of money today, but that was more back then when we earned relatively modest incomes. I would never have gotten up to $17,000 even if I had a winning streak as they had. I know...

How Might President Biden’s Tax Plan Affect Me?

4 Key Lessons From the Last Year

The last 12 months featured some of the most traumatic experiences and moments in our nation’s history. Ironically, the investing environment has been one of the best ever despite all of the dire headlines. Since late March of...

We Thought This Was an Interesting Take On Bitcoin

We thought this was an interesting take on Bitcoin worth sharing. Bitcoin Lessons in Hindsight

Am I Subject To A Behavioral Bias Regarding An Asset I Own?

The Death Checklist

In times like these, the only thing we can do is try to help. Usually, there is no big hurry on most items, but the anxiety and grief that comes from losing a loved one can trigger an immense amount of stress. If nothing else, perhaps...

We have a friend that recently lost over 50k to this scam

The gift card scam is still alive and well. We have a friend that recently lost over $50,000 to this scam. It's a long story, but it involves the classic "con", meaning confidence. They reach out to you over the internet or over the...

Am I Subject To A Behavioral Bias Regarding An Asset I Don’t Own?

Fraud seems to be accelerating exponentially

Fraud seems to be accelerating exponentially. We've been thinking about sending a note, and another recent case finally triggered us to reach out to you. Retirement accounts are not federally protected from theft like bank and credit...

Beware of Big Banks Bearing Gifts

My Citibank credit card 2% cash-back recently offered me 1.99% interest for six months. Fortunately, there is no need for this in our family right now, but it is certainly an attractive interest rate! The thing that jumps out at me...

What Issues Should I Consider When Purchasing Long Term Care Insurance?

If your email account does not offer two-factor authentication, please find one that does

Quick Reminder If your email account does not offer two-factor authentication, please find one that does. Two-factor authentication is a protection method that uses two different forms of identification, such as a password and a mobile...

What Issues Should I Consider When Reviewing My Estate Plan?

Depression and Money

Depression can be taboo, and due to the COVID pandemic, it is even more common now. Unfortunately, depression can trigger the belief that we're never going to come out of the various traumas we're going through. The reality is whether...

18 Issues You Should Consider Before Updating Your Estate Plan

The good news is that you "get to"​ decide

The good news is that you "get to" decide One of my favorite perspectives gained from the recent trying times, is thinking about the things that we still "get to" do. To me, this means that we, hopefully, still "get to" spend time with...

Pay Stub Flow Chart - Great for Mid Year Tax Reviews

Important Dates for 2021

Important Milestones for 2021

10 Ways Required Minimum Distributions Can Be Efficient & Profitable

10 Ways Required Minimum Distributions Can Be Efficient & Profitable We can coordinate with your CPA and update your income tax withholding estimates, to help things go smoothly at tax time. We can help eliminate the need for you to...

Master List Of Goals

Jon Murray Earns Accredited Investment Fiduciary AIF® Designation from Fi360

Albert Lea, MN – Jon Murray of ISC Financial Advisors, a retirement plan consulting firm, has been awarded the Accredited Investment Fiduciary Analyst® (AIFA®) designation from the Center for Fiduciary Studies®, the...

Helping Mom Thrive

Preface: First, let me acknowledge that the differences between the sexes can be a touchy subject. Whenever someone talks about men and women in general terms, we must pick our words carefully not to sound like we are promoting sexist...

What Issues Should I Consider When Establishing My Charitable Giving Strategy?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

Should I Take My Pension As A Lump Sum?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

What Issues Should I Consider Regarding My Nonqualified Stock Options?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

Should I Change My Medicare Coverage During Open Enrollment?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

Lessons From 2020 Are Coming in Fast

This latest one is that taxes can save people money! This isn't going to be one of those long-winded tax minutia emails that I'm almost sure nobody reads. Rather, it is a psychological quirk all of us encounter. Back in March, some...

What Issues Should I Consider If I Experience A Sudden Wealth Event?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

Should I Consider Refinancing My Mortgage?

* Tom Gartner is not registered with Purshe, Kaplan, Sterling Investments. This article represents opinions of the authors and not those of Purshe, Kaplan, Sterling Investments and are subject to change from time to time, and do not...

Giving Back and Golfing for Good

Recently our own Tim Jaynes was on the news fundraising for River Valley Charities where he currently serves as volunteer President. Here is a very quick video about some of the great work they are doing, and some more information...

Mortgages in Retirement

Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. Saving, investing, anticipating medical costs, and making sure you have enough tucked away for years to come is just the...

A Helping Hand

I should have thought of this sooner. 2020 has been a tough year. For some, really hard; for others, more of a series of somewhat disappointing, but survivable, let downs. As I look around, it occurs to me that many of the people I...

Three Lessons From Some of the Best and Not Surprisingly Oldest Investors I Know

It can take a whole lifetime to become a good investor. The journey is often accompanied by intense feelings of excitement, greed, regret, and fear. There are lessons in many of these experiences, and, the great thing is, you...

Creative Ways to Motivate Your Employees

We know you know how to keep your employees motivated. However, the tough times are starting to drag on for many people, and winter is coming. So, even though we focus on helping people with maintaining retirement plans, we thought...

Should I Contribute To My Roth 401(k)?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

What Issues Should I Consider When Reviewing My Investments?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

A Place to Find Some Return, but with Greater Safety than Stocks

No surprise to you, but the world seems to be changing faster now than ever. The COVID crisis devastated people's lives and livelihoods, and left many wondering what's next? Fortunately, the Federal Reserve and our government have...

Death and Taxes

It seems like the dominant things I think about lately, regarding financial planning at least, are risk and taxes. I'll try to stop harping on the appropriate risk level for your portfolio for a while, and pivot to one of my other...

I've Got a Really Crazy Idea

This was born out of brainstorming around the strange current financial conditions and how we might maximize today's situation. 30-year mortgage rates are now about 3%. The expected return for asset classes, such as stocks and other...

Am I Eligible For An Income-Driven Repayment Plan For My Federal Student Loans?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

What Issues Should I Consider When Paying Off My Student Loans?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

We know this has been a crazy year; lots of changes, lots of drama, lots of trauma.

Mid-Year Tax Reminder We know this has been a crazy year; lots of changes, lots of drama, lots of trauma. That said, one of the things that you can do to improve your situation this year is taking steps to avoid big tax surprises....

What Does Your Safety Ratio Look Like?

Recently, I've encouraged more people to contact me to learn about their safety ratio. "Safety ratio" sounds like it might be complicated, but it's not. My definition is: how many years' worth of safe money you have on hand if the...

My Humble Attempt at an Interesting Quarterly Update

Very few people enjoy reading quarterly updates. The first quarter of this year was bad, and the second quarter was good. You all know the basic reasons why. It is good to look back and reflect, here are some items I thought you might...

What Issues Should I Consider When Starting A Business?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

Want to undo your 2020 RMD?

Want to undo your 2020 RMD? As you may already know, the CARES Act passed earlier this year eliminated Required Minimum Distributions (RMDs) for 2020. This has left some in a position where their RMD may have been taken prior to the...

Am I At Risk Of Having My Identity Stolen Or Being A Victim Of Fraud

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

Preparing You for the Unknown

Please click here for the full document

"Don't Ever Give Up"

That's our family motto. It started innocently with simple life lessons for quickly growing children, but it's a personal mantra as well. Now when something is hard, I say, "Don't ever…" and the kids reply, "Give up." This year...

Professional Fiduciaries and Daily Money Managers

Professional Fiduciaries and Daily Money Managers We've recently realized after serving several people that we have a niche in this. If you have assets that needs to be managed prudently for a specific goal or mandate and need it well...

Okay, I'm Retiring. Now What?

Family life, raising children, striving in careers, studying for school, saving money: A lifetime has many important milestones. One of those that we frequently help people with is transitioning into retirement. This transition is...

I hesitate to write this...

Gut Check Time Now that the market has recovered significantly, it may be time to revisit your levels of investment risk One of the hardest parts of investing is controlling one's emotions when times are scary. If you did, please...

What Kind of Accounts Should I Consider If I Want to Save More?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

Should I Consider a Roth IRA Conversion This Year?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

What can you say?

With so much suffering during this crisis, I consider myself fortunate being so minimally impacted relative to others. It feels a little strange to think about, and plan for, the future during such a strange time, but I do believe we...

History Shows That Stock Gains Can Add Up After Big Declines

Sudden market downturns can be unsettling. But historically, US equity returns following sharp downturns have, on average, been positive. • A broad market index tracking data since 1926 in the US shows that stocks have tended to...

Will I Have To Pay Tax On My Qualified ESPP?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

10 Thoughts for My 2020 Time Capsule

Right now, we are living in historic times. There is so much going on right now, writing down and reflecting may prove helpful in the future. Here are some observations and thoughts to think about, for now, and to possibly help improve...

As A Business Owner, What Emergency Relief Options Should I Consider During The Coronavirus Pandemic

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

What Issues Should I Consider During A Recession Or Market Correction?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

What Issues Should I Consider If I Lose My Job?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

What Emergency Relief Options Should I Consider During The Coronavirus Pandemic?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Things to Think About When Getting Started With Finacial Planning

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

CARES Act Overview

* Tim Jaynes is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

Dear Future College Student

Here Is What You Own in Your College Fund! Our nine-year-old daughter, Mackenzie, hopes to go to the University of Minnesota to be a dentist. The other day she asked me how much she has for college. While initially I deflected the...

We Are Not Conducting in Person Meetings During the Stay at Home Order

We Are Not Conducting in Person Meetings During the Stay at Home Order. Our lobby is now closed. Please call or email us, we are working and would love to help. Be safe and thank you! Your ISC Team

Taxes don't have to be a surprise every year

I know that we're all going through that annual ritual of putting together our federal and state taxes. Hopefully, you're using a CPA or bookkeeper. Having professional help with tax math is some of the best money I spend every year....

These new tax laws have a lot of rabbit holes

These new tax laws have a lot of rabbit holes that we can go down. I was recently discussing these with a colleague the new SECURE Act distribution rules and the lack of the stretch IRA provision. The bottom line is there are extreme...

Will The Distribution From My HSA Be Tax Free?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

10 Plus Reasons NOT to Do a Roth IRA Conversion This Year

You might be paying close attention to income taxes these days, and so are we. Roth IRA conversions are one tool in our toolbox to help decrease your potential overall tax bill. However, there are lots of reasons that might push you...

Checking in

The past week has been rough for the stock market and your investment accounts. Your ISC Financial Advisors team discussed what type of communication we should send based upon recent events. We decided to keep it simple; no graphs, no...

Here is a thought for you as you head into the weekend; check your current mortgage rate.

Here is a thought for you as you head into the weekend; check your current mortgage rate. In the past few days, mortgage rates have dropped. See below for some sample rates as of 2/27/20. 15 year loan rates* 2.75% - Paying closing...

Should I Contribute To My Roth IRA Vs My Traditional IRA?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

How ‘prepaying’ your taxes can save you money in retirement!

Have you ever received a discount on an invoice by making an early payment? Think of car insurance, most insurers offer a discount if you make an annual premium payment instead of quarterly or monthly payments. What if you could do the...

Sometimes, having too much money is a problem

It certainly is a strange thing to think about; however, recent prosperity has brought record net worth for many long-time investors. Having more money than you need is a good problem, and, for the hard work that got you there,...

The Family Cabin Equation

It seems more frequent these days, perhaps with busier families, that cabins aren't getting used as much as in the past. Many kids are in year-round sports or do a lot of activities that keep them from going up north to the family...

Difficult Conversations Surrounding Enabling Your Adult Children

I recently attended a presentation by one of the top financial planning thought leaders in the industry, Rick Kahler. I've been following him now for probably 15 plus years. He is constantly pushing the envelope in what we do in...

What Issues Should I Consider When Starting A New Job?

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

Junk Mail: Simplify your life a bit with electronic documents

Junk Mail: Simplify your life a bit with electronic documents When you open up new accounts with us, there will be a flurry of mail. Much of that will be coming from Schwab and your My529 college savings accounts or other accounts. I...

What Issues Should I Consider If I Get A Promotion Or Raise At Work?

What Issues Should I Consider If I Get A Promotion Or Raise At Work? When you receive a promotion or a raise at work, this change can come with a number of changes that might impact your financial situation. In this checklist we focus...

Adoption Tips from a Financial Planner Who Has Done It

I recently attended an adoption presentation from a CPA, financial planner, and adoptive mother Trudy Turner. She made the case that learning more about adoption and how it impacts finances makes sense. There are 135,000 adoptions per...

Entitlement Spending in Retirement

I recently come across a couple of strange cases where people initiate high and unaffordable levels of spending in retirement because they feel they deserve it. One of them is destitute because they spent all of their cash on cruises...

Important Tax Planning Numbers for 2020

* Tom Gartner is not registered with Woodbury Financial Services, Inc. This article represents opinions of the authors and not those of Woodbury Financial Services, Inc. and are subject to change from time to time, and do not...

The Growing Problem of Divorce Late in Life and How It Impacts Finances

The Growing Problem of Divorce Late in Life and How It Impacts Finances The good news is divorce rates are down dramatically. The bad news is that's because young people aren't getting married. We are seeing a large uptick in...

6 Things We Think You Need To Know

A lot has changed recently, so here are some of the top things we think you need to be aware of today. 1. 2019 was the best year for the stock market since 2013, and a lesson in predictions. A year ago, the market was crashing and many...

What Issues Should I Consider When Reviewing My Health And Life Insurance Policies?

Life and health insurance policies are a key part of your overall financial plan. It’s important to ensure that these policies are reviewed each year to ensure that you have the coverage you need. If there are gaps you can work...

Should I Pay Myself More?

Recently a CPA that we work with had one of their clients ask a question about Social Security benefits. The client asked “My plan is to start taking my social security when I’m 70. Since they base the amount on my highest...

This Is the Season to Be Thankful for some

For Those That Invested in Their Health Savings Account, This Is the Season to Be Thankful If you invested in the stock market, and perhaps some bonds, within your health savings account this year, you probably have some pretty great...

What Issues Should I Consider When Reviewing My Property & Casualty Insurance Policies?

A client’s property and casualty insurance policies are a key part of their overall financial plan. It’s important to ensure that these policies are reviewed each year to ensure that your client has the coverage they need....

This Concept Might Be the Most Important Math Problem for the Next Five Years of Your Financial Life

If you have a dollar and you have to pay 8 cents in taxes to get access to it, versus if you have a dollar and you have to pay 18 cents on it in taxes, would it be better to pay those taxes early or late? Trick question. It doesn't...

Should My Family Worry About the New Inherited Retirement Rules?

Gang, I'm really worried. This new tax law that is coming out has the potential to impact your family and the taxes that you pay, dramatically. If you spent your whole life saving in a traditional 401(k), or pension plan and IRAs, and...

Wealth = Responsibility

Recently I attended a half-day seminar on how to leave a lasting legacy behind for your family with Legacy Capitals. My main takeaway was that for those few people that we can get to a point where they are okay financially and on track...

What Will They Say About You When You Are Gone?

I recently had the privilege of hearing from Rabbi Daniel Cohen, author of ‘What Will They Say About You When You Are Gone?’ He told a fascinating story about Albert Nobel, the inventor of Dynamite. He received news that...

Middle Class Savings Account Shenanigans

Something strange is going on with cash these days. My friend has had a savings account at a big national bank now for over 40 years. They worked for probably ten years at one of the smaller banks that was later acquired by a larger...

As A Retiree, What Issues Should I Consider When Reviewing My Tax Return?

Reviewing a tax return can be an informative exercise to ensure you understand all sources of income and tax liabilities for the prior year. In this checklist, we focus on items to review if you are retired, including: The filing...

On Gratitude and Making the Days Count

Today is shaping up to be a memorable day, and I wanted to share some lessons from it. This morning Tommy and I went to the Orthodontist to talk about him getting braces. He’s happy to have the opportunity to have his smile fixed...

As Someone Who Is Working, What Issues Should I Consider When Reviewing My Tax Return?

Reviewing a tax return can be an informative exercise to ensure you understand all sources of income and tax liabilities for the prior year. In this checklist, we focus on items to review your tax return if they are working, including:...

Nothing Quite Makes Me Sit up and Listen Closely like a person with Stage

Nothing Quite Makes Me Sit up and Listen Closely like an Estate Planning Attorney living with Stage 4 Cancer Gary Altman recently gave a good talk on how to help when someone is diagnosed with a terminal condition. He's not only been...

* Tim Jaynes Earns Accredited Investment Fiduciary Analyst AIFA® Designation from Fi360

Edina, MN & Hudson, WI November 12th, 2019 – Tim Jaynes of ISC Financial Advisors, a retirement plan consulting firm, has been awarded the Accredited Investment Fiduciary Analyst® (AIFA®) designation from the Center for...

Lessons on Making a Difference in the Lives of Young People from Alan Page

These are my notes from hearing him speak recently at a National Financial Planning Conference in Minneapolis. He was a football star that went on to be Associate Justice of the Minnesota Supreme Court. “Whatever we do; we don't...

Allison and I recently attended a talk on Capitalism by the great-grandson of President Taft, John T

Allison and I recently attended an interesting talk on Capitalism by the great-grandson of President Taft, John Taft. He believes financial capitalism has lifted two billion people out of poverty. The “Misery Index” is the...

Investing Updates from Dr. David Kelley of JP Morgan

“Please don't ever let how you feel about politics impact your investing. Investing is all about the facts.” He believes a short-run slowdown is coming and maybe a 40% chance of recession. Either way, we should have slow...

What Issues Should I Consider For My Aging Parents?

Becoming a caregiver for your aging parents can be a drain emotionally and can carry financial ramifications both for parents and for the caregiver children. Helping understand and manage the financial issues involved can help make the...

What Issues Should I Consider When Having (Or Adopting) A Child?

Beyond the joy brought to parents from having or adopting a child, this is a huge financial transition in their lives. There are a number of issues to consider including how the costs of caring for a child will impact both their...

How to Make Money on Your Tax Payments in Retirement?

It's a new year, and if you're over 70, you might be looking at your required minimum distribution from your retirement account and wondering when you should take it. As I see it, there are two camps of people: 1) If you need the money...

When Home Improvement Makes Things Worse

Before I'm pointed out being hypocritical, I fully understand that this applies, in some parts, to Allison and me, as well. The economy seems to be doing rather well. The stock market is at an all-time high, unemployment is at 50-year...

What Issues Should I Consider When Buying a Home?

Buying a home is one of the biggest financial moves that you will ever make. There are a number of issues they should be aware of, including how the costs of purchasing and owning a home will impact your overall financial planning...

One Way to Think About Purchases Is in Ratios and Percentages

We generally don't tell clients how much they're up or down in raw dollars. We talk about percentages. Percentages tell you a lot more about the story. Recently, someone said they didn't want to hire a financial advisor that didn't...

What Issues Should I Consider Before The End Of The Year?

The end of the year provides a number of planning opportunities and issues. Issues can include tax planning issues, issues surrounding investment and retirement accounts, charitable giving, cash flow and savings, insurance and estate...

For those of you who love podcasts like me, I thought this might be interesting.

For those of you who love podcasts like me, I thought this might be interesting. Times have changed so much and for the better. When I was a kid, I used to play with short-wave radios, police scanners, CB radios and eventually moved on...

If I Retire Early, Should I Buy Health Insurance Through The Health Insurance Marketplace?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Student Loan Refinance?

If you have student loans, the refinancing opportunity with today's low rates might be attractive. We refinanced ours in less than 24 hours totally online and went from 6.55% to 3.45%! It should add up to a riding lawnmower or two of...

Money Saving Ideas That Work For Me

Sometimes I geek out over a new idea or way of doing things. Maybe it’s from my dreaded Operations Management class in college where we had to prove with math how best to get things done, like driving a UPS truck through town as...

How Some of Your Goals Might Be “Aspirational” or Unnecessary

If you're like most people, you're probably driven and have important goals that you're striving for in life. Whether it's a home, family, career, health, etc., we all have things that are important. Today, I'm going to talk a little...

What Issues Should I Consider If I Lose My Job?

In today’s corporate world downsizings and reorganizations are increasingly common. Losing your job should trigger some actions. To make this easier, we’ve created the checklist “What Issues Should I Consider I Lose...

What Documents Do I Need To Keep On File?

Clients are often confused as to what documents to keep surrounding key areas of their lives. Records documenting things like tax documents, records of healthcare issues, certain legal documents, documentation surrounding certain...

Is The Distribution From My 529 Plan Taxable?

Investing money into a 529 plan can be an effective strategy to save for college. There are, however, some overlooked nuances related to some 529 plan distributions. And often times, those nuances are not addressed (or even discovered)...

What Issues Should I Consider To Fund My Child’s College Education?

This checklist covers 21 of the most important planning issues to identify and consider when a client is trying to determine how to fund college. It’s structured as follows: Financial Aid Issues Funding Issues Qualified Account...

Will I Have To Pay Tax On The Sale Of My Investment

Calculating the tax impact of selling an investment can sometimes be complicated. There are several questions to ask a client to ensure that the tax liability on the sale of an investment is calculated correctly. To help make the...

Overcoming Shame and Fear with Your Finances

Shame is a painful feeling of humiliation or distress caused by foolish behavior. Fear is a belief that something is likely to cause pain. These emotions are, unfortunately, common when discussing one’s money situation. These...

What Issues Should I Consider During My Divorce

This checklist covers 26 of the most important planning issues to identify and consider when a client is going through a divorce. It’s structured as follows: Cash Flow Issues Asset & Debt Issues Insurance Planning Issues Tax...

Some Benefits You Might Not Know About This College Savings Vehicle

I recently had a client inquire about ways to save for their child's college or post-secondary education. I talked about the different investment vehicles available, but typically and ultimately, I end up focusing on a 529 plan. A 529...

What Issues Should I Consider If My Parent Passed Away

This checklist covers 26 of the most important planning issues to identify and consider after a client’s parent passes away. It’s structured as follows: Cash Flow Issues Estate Settlement Issues Insurance Issues Tax Issues...

What Issues Should I Consider After Getting Married?

This checklist covers 28 of the most important planning issues to identify and consider when a client gets married (or remarried). It’s structured as follows: Cash Flow Issues Asset & Debt Related Issues Insurance Planning Issues...

Should We Buy Life Insurance on Junior?

Allison says my articles are trending boring again, and so I should write about this instead. Apparently, some of her friends were talking about buying life insurance on their children, and she wanted my opinion. Back in the old days,...

If You Are Serious About Your Child Getting into and Through College Without Crippling Debt

This Information Might Help I’ve written about things I’ve learned from College Inside Track in the past, and I just spent another couple hours with them absorbing everything I could. Below are my rough notes in case they...

Stop the dividends!

If you have dividends from your investments automatically reinvesting, you might want to consider turning them off. It’s usually fine in your 401k and Health Savings Accounts etc, but as financial life gets more complex,...

What Issues Should I Consider Before Closing The Estate

This checklist covers 23 of the most important planning issues to identify and consider before a client closes an estate for a loved one. It’s structured as follows: Cash Flow IssuesAsset & Debt Related IssuesEstate Planning...

For those few Quicken users left, if you have money at My529 for college savings

For those few Quicken users left, if you have money at My529 for college savings, this might be helpful. I've discovered a way to enter all the multiple liquidations each month for each child without manually having to select the cost...

What Issues Should I Consider Before I Retire

This checklist covers 32 of the most important planning issues to identify and consider for a client who is about to retire. It’s structured as follows: Cash Flow IssuesHealth Insurance IssuesAsset & Debt IssuesTax Planning...

What Issues Should I Consider Before I Update My Estate Plan

This checklist covers 18 of the most important planning issues to identify and consider for a client, whose spouse has been diagnosed with a terminal illness. It’s structured as follows: Heirs & Beneficiary IssuesAssets &...

How Much Risk We Are Okay With Is Fluid

Experience has taught me that the amount of risk people are comfortable taking within their investments is highly variable. Academically, it's easy to get caught up in things like statistical analysis, glide paths, and probabilities of...

What Issues Should I Consider If My Spouse Passed Away

This checklist covers 29 of the most important planning issues to identify and consider for a client, whose spouse has recently passed away. It’s structured as follows: Cash Flow Issues Estate Settlement Issues Insurance Issues...

Important Investment Lessons from Last Year

As I write this, we have just finished the best quarter for the stock market in 10 years! The only problem is, it followed the worst quarter in 30 years... Source: JPM The “normal volatility” that we hadn’t seen for...

What Issues Should I Consider If My Spouse Has Been Diagnosed With A Terminal Illness

This checklist covers 28 of the most important planning issues to identify and consider for a client, whose spouse has been diagnosed with a terminal illness. It’s structured as follows: Cash Flow Issues Estate Planning Issues...

Will The Deductibility Of My Retirement Plan Contributions Be Impacted By The QBI Rules?

The QBI deduction rules are complicated. One of the newest planning issues to consider deals with a possible QBI deduction-reduction effect on retirement plan contributions that could impact how small business owners save for...

Will I Avoid Social Security’s Government Pension Offset?

Clients who are receiving a government pension and a Social Security spousal, widow or widower’s benefit based on their spouse or ex-spouse’s work history may be impacted by the Government Pension Offset. To help make the...

Will I Avoid The Social Security Windfall Elimination Provision?

Clients who expect to receive a Social Security benefit and a government pension may see their Social Security benefit reduced due to the Windfall Elimination Provision. To help make the conversation with clients easier, we have...

There will be no service.

The number of people that I'm seeing that aren't having funeral services these days is a bit alarming. As somebody that isn't concerned with the pomp and circumstance of the traditions, I do recognize that there is a benefit to those...

Can I avoid taking my required minimum distribution after turning 70 1/2?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Notes from Enron expert and author Bethany McLean

Bethany McLean has had a notable career studying and writing about some fascinating topics including: How Wells Fargo’s Cutthroat Corporate Culture Allegedly Drove Bankers to Fraud The Valeant Meltdown and Wall Street’s...

Will I Receive A Step-Up In Basis For This Inherited Property?

In most cases, there is at least some kind of step-up in basis when property is inherited. But there are a few exceptions and some subtle distinctions that do occur. To help make the conversation easier, we have created the “Will...

Medical Crisis & Medical Debt Pro Bono Workshop Notes

I recently attended a seminar on how to help families suffering from expensive medical crises on a pro bono basis. This hits particularly close to home as I recently lost a friend to cancer. The number one reason that they're getting...

Important Numbers

There are lots of important numbers that advisors need to keep in mind. In some cases, those numbers are annual limits and change each year. Other times, the figures do not change, like the tables to calculate an RMD, but are used...

Can I Make A Mega Backdoor Roth IRA Contribution?

In certain cases, clients may be eligible to make a Mega Backdoor Roth IRA contribution. At a high level, this involves a client making a non-Roth, after-tax contribution to their 401(k), rolling it out of their 401(k) plan and into a...

Knowing Your “Money Scripts” Can Change Your Life

Meeting notes from Rick Kahler, MSFP, CFP®, author and pioneer in financial therapy Rick has been a longtime hero of mine. In fact, at one point he was to be my wife Allison's backup financial planner if something happened to me....

Will I Receive A Step-Up In Basis For This Gifted Property

In most cases, there is no step-up in basis when property is gifted. But there are a few exceptions and those exceptions can be difficult to remember. To help make it easier, we have created the “Will I Receive A Step-Up In Basis...

Did you give to charity directly from your IRA last year? If so read this

There is a potential for people to make a big tax planning mistake if they don’t tell their CPA's that the money was taken from the IRA and went to charity. The tax reporting is unclear, perhaps because this is a relatively new...

Can I Make A Deductible Contribution To My HSA?

HSA contribution rules seem pretty straightforward at first. However, the rules become complicated in years when there will be a change to coverage. Perhaps a client is moving from individual to family coverage, or they are leaving...

Tax Planning Idea for Physicians

Are you are hired by companies outside your employer for on a self-employed basis? I was meeting with a physician recently that is hired from time to time to speak at various events by outside companies. During the discussion, I...

Can I Do A Net Unrealized Appreciation (NUA) Distribution?

Having employer-issued stock in a 401(k) plan opens the door for a conversation on doing an NUA distribution. But to qualify for the NUA distribution, your client must satisfy several very important rules, some of which or often...

How to use your Health Savings Account (HSA) to save for more than just medical expenses!

As financial planners, we are always looking for tricks to maximize the usefulness of the tools available to our clients to help them meet their goals. One of these tricks that has recently been getting more widespread attention...

Will my Roth IRA conversion be penalty free?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Can I make a backdoor Roth IRA contribution?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Our Federal Reserve Bank of Minneapolis

Unfortunately, on my recent visit, I found out taking pictures isn’t allowed, after a gentle admonishment from security. So, I’ll try to find some good public ones to help break up this note! One of the most interesting...

What we do is not hard compared to what you did

What you did, earning the money was blood sweat and tears. Your job. Not messing it up. Our job. We don’t just do this five days a week, we are researching financial topics and opportunities constantly. It's what many of us are...

Should I inherit my spouses IRA?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Can I contribute to a Roth IRA?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

The Smart Money

We know markets fluctuate up and down. That ups and downs are a feature of investing, not a bug. See the history of the US Bear and Bull markets since 1926 below. But our brains didn't evolve to tolerate fear without dramatic action....

Finding a silver lining of high long-term care medical expenses

Life can get really hard. One of the things that we unfortunately see periodically is incredibly high long-term care medical expenses. Recently, we had someone that was spending over $100,000 a year on their medical issues. It's...

Am I Eligible For A Qualified Business Income Deduction?

The provisional rules surrounding the Qualified Business Income (QBI) deduction can be complicated. There are several issues that must be considered. To help make the conversation easier, we have created the “Am I Eligible For A...

Don't count on sports scholarships and several other great tips from JPM on college planning

Don't count on sports scholarships! But higher education does tend to pay off, even today. Want a job? You get one. It might not be perfect, but ninety-eight out of a hundred people with a college degree have one. Be careful what...

Periodically the Share, Save, Spend program we do with our three oldest kids can be a little bit of

Periodically the Share, Save, Spend program we do with our three oldest kids can be a little bit of a burden around our household. Getting them to the bank can be a challenge, but it's always fun when we do it. Then getting them to...

Will my Social Security benefit be reduced?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

#FirstWorldProblems & Alleviating Complexity

We sometimes have really fun financial planning meetings with clients where we discuss what I refer to as “first world problems.” Many of us in this country are so fortunate that it can be hard to maintain perspective on...

I told a millionaire to think about taking out a car loan the other day

Sometimes, financial decisions aren't obvious. The other day, this struck me as I was brainstorming with a millionaire who was planning on buying a new vehicle. We were talking about where to get the funds from, taxes from various...

How does Social Security work when your spouse dies?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

How does Social Security work for divorced people?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Am I eligible for Medicare?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Will I have to change health insurance when I retire?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

A brilliant Seussian adaptation to an important topic

My son Will and I enjoy reading Dr. Suess together. The other night while doing some post bedtime googling on the topic, I came across this amazing Seussian adaptation. Unfortunately, many of us will face difficult situations like...

Will I be hit with extra Medicare charges because of income?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Lessons from the Bernie Madoff Scandal

I recently heard from Diana Henriques, she is a New York Times best-selling author and wrote The Wizard of Lies: Bernie Madoff and the Death of Trust. This was turned into the Bernie Madoff HBO movie, and she had the opportunity to...

Insights from former Federal Reserve Chair Janet Yellen

It was exciting to hear directly from Janet Yellen the other day about her views on where we are and how it relates to economic policy. Here are some of the high points: July of next year will likely mark the longest economic expansion...

Should I set up a 401k for my business?

Mid Term Political Insights

Recently I was able to hear one of my favorite political strategists, Greg Valliere, while in Washington, DC. Here are some of the short high points. Lots of talk about the shootings and bombings, a negative mood in the country, the...

You know you own that right?

Helping kids learn about money and how it works is an important job as parents and mentors to grandchildren. I know you've heard us talk about the share, save, spend strategies that we've employed with some success. Recently I was...

Can I make a deductible IRA contribution?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Views from Ben Bernanke

I had the opportunity to hear from former Federal Reserve Chairman Ben Bernanke recently. He's had quite a career and now serves on the PIMCO outside advisory committee. There are several outside advisors that hopefully will help...

Will a distribution from your Roth IRA be tax and penalty free?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Are there accounts for family members that you don't see when you log in?

For example, if you would like to view both your spouse's and your own accounts with one login we can get this set up for you. Furthermore, and perhaps more exciting is if you'd like online access with similar information to what we...

Should you roll over your old retirement account?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

Discrimination (against the not yet wealthy) is Still Open and Common in Wealth Management

“Small accounts” to some investment professionals means less than $250,000.00. Some places don’t pay their advisors anything for managing such small accounts aka dreams of retirement and other important goals....

Can I do a qualified charitable distribution from my IRA?

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular...

The Pomposity of Investing

I was reminded that investing is not a pastime, while looking at this collection of seashells in our home. It's a lifetime collection from some unknown person that I purchased for a mere $6 at a garage sale. To me, it represents...

If you love charts like I do, you might like this

The following dozen or so slides represent some of the best illustrations that I know of for explaining some of the things that are currently going on in the world, particularly with finance. Starting with slide four, you can see the...

A picture is worth ten thousand words

This is still probably a partial list of the financial terms in this photo, thanks for your replies! 529 (college savings account) - with the 5 and the 2 upsides down QTIP - Qualified Terminable Interest Property TIPS - Treasury...

Ninety Pounds!

I was helping a client update their financial plan recently, and when life expectancy came up I took a double take. They had made some major diet and exercise changes and lost ninety pounds! Life changes, often for the better. We...

I'm Moving to a No Tax State, Do I Need A New Financial Planner?

Nope. Source https://www.irs.gov/publications/p555#en_US_201502_publink1000168754 Thanks for taking a look! Tom Gartner, MSAPM, CFP® This article represents opinions of the authors and not those of their firm and are subject to...

On Market Timing and Risk Management

A potential client asked me recently how I planned to time the stock market. Here is my response which will help you understand my investment philosophy if you too are considering working with me. I have learned through observation and...

Bad News for Charities

The new tax law is hopefully going to save you some cash, or at least you’ll be about equal. Though, there is one big potential negative impact for charities. Consider a typical successfully retired couple. The new standard...

Will your kid’s or grandkids be going to private school?

If they are and you have your other core financial planning priorities like retirement in order, this might be helpful. What is one of the best “College” savings tools, now can also be used for K-12 education! Starting in...

The top 10 reasons someone actually seeks out (financial) advice

I thought this was a terrific graphic from one of my financial planning heroes Michael Kitces. It also brings up one of our concerns when we meet with a potential new client. We want our advice to stick so it makes a positive impact....

Property & Casualty and The Commodity Sales Trap

Hundreds of millions of dollars have been spent on advertising between all the property and casualty companies. Progressive, Gieco and The General commercials dominate the television advertising space in this market. What are they...

New Capital Gains Tax Rates

If you have after-tax investments, you might have recently been given a tax planning opportunity. New long-term tax rates on gains are ZERO for married couples filing jointly up to $77,400, and $38,700 for singles. So, if your income...

Most people know that value has beaten growth recently, but these graphs are quite remarkable

We obviously need to avoid jumping to conclusions here. The past doesn't necessarily mean revert. But the numbers are interesting to see. Thanks for taking a look! Tom source: brandes.com This article represents opinions of the authors...

Tough Mudder Completed

Finally, Tim, Rich, Jon, and Matt participated in the Tough Mudder this summer and had a blast. Plenty of bruises and cuts, but they did it! These articles represent opinions of the authors and not those of their firm and are subject...

So, you are eligible for the company's 401k. Now What?

If this is your first time participating in a 401(k) retirement plan, there are a lot of things to consider and decisions to make. I hope this helps a bit. First off, if you're lucky, your company does a match. This is where they will...

The Marriage Penalty and You

The marriage penalty for your federal taxes has virtually been eliminated for all but the highest of income earners. This means if you have a change coming, like an upcoming marriage, divorce, or death checking with your CPA could make...

It’s time to change the conversation regarding qualified plans

I sit here on an airplane flying back from a great national retirement plan advisors best practice seminar. About fifty of my peers from very successful retirement planning practices across the country met for two days sharing what is...

99 things to do with extra cash

Prioritization is a big part of financial planning. We almost always have lots of needs, wants, and wishes but rarely enough to fund everything 100%. A call from a soon to be new father got me to thinking; people could use some help...

The Million Dollar Meeting

I just had an alarming real-life story that might encourage you to get your estate planning done and/or reviewed. Parents of a single child were finally doing their will with the same attorney as their parent's. During this process,...

Tax Planning for 2018 to 2025

On December 31st, 2025 Federal taxes are scheduled to go back to the 2017 rates. While there is a chance of locking them in lower for longer, given our national debt problem, there is a good chance they will revert. As a result some...

I feel duped

A local law firm has been sending me well-written articles for ten years. I have enjoyed reading them as they are highly applicable to financial planning, and I’ve often have wanted to share. However, they are never uploaded to...

The Tariff Conversation

Over the past month, we have had many clients concerned about tariffs, how they actually work and how they will impact the market. This topic has been a great ‘headliner’ for the media. However, let’s dig a little...

Decision Decisions – If you get to the bottom maybe you should convert some dollars to a Roth IRA

We likely have an era of low-income tax rates at least until 12/31/2025. This flow chart might help you think about some of the considerations. This isn’t designed to be an end all be all, so your results may vary. Before making...

Some charts and graphs that I thought were interesting

Whole 100+ page slide deck here if interested https://bit.ly/2LJlhe3 Thanks for taking a look! Tom Gartner, MSAPM, CFP® This article represents opinions of the authors and not those of their firm and are subject to change from...

Turning 70 can be a confusing time for investors

It begins the Required Minimum Distribution (RMD) phase for most types of retirement accounts. This is mostly because the government wants you to take out money so you will have to pay taxes. As a result, often these funds are at least...

Fitbit For Your Finances

Are you headed toward a smooth retirement or a brutal surprise? Ok, I’ll spare you the cliché quotes about planning, Google brought up 202,000,000 inspirational quips. You probably get the point of this article already,...

BREAKING NEWS: NOT ALL HEADLINES ARE IMPORTANT

Every day we are inundated with attention-grabbing headlines from financial news sources, the writers of these headlines use catchy puns, fear, or the reader's curiosity to get clicks and views. Sometimes, the news stories that...

4 favorite graphics from second quarter

JP Morgan has some good graphics to help explain how the financial world looks. Here are my four favorites from last quarter. This really is a remarkable time. There is a lot of doubt in the numbers though, here is some of the...

Another Day Another Dubious Fear Mongering Sales Pitch

This is a note I sent recently in response to an advertisement masquerading as a legitimate news article. Thanks for sending this over, I hadn’t seen it yet even though I skim over 100 news sources daily. This is probably because...

Credit Card Debt: Where to start?

Pro-Bono Financial Advice is a particular area where we can make big impacts on people’s lives. Unfortunately, the need is immense, but surprisingly the opportunities to help don’t come as often as you might think....

Should I take an early distribution from my retirement account?

This question comes up a LOT, particularly when people change jobs, have a big unexpected expense, or wish to pay down debt. This way of thinking about it might be helpful: For example, consider a 35-year-old taking out $50,000 from...

Stress Testing – What if I get killed in a car accident today?

One of my friends likes to tease me about my morbid posts, and this might be the worst... It doesn’t matter what recent observation spurred the thought, but it was really bad. Since the most important thing to me is my family, I...

Outlook Productivity Tip

Seeking improved email productivity (read spend less time on low priority emails) I recently upgraded to the latest desktop version of Outlook 365, from 2013. I was excited about the new clutter feature, but I quickly learned it...

What is a “Hybrid Bond” Investment

These days when I see a fixed 3% mortgage, I want to tell people never to pay it off, but that's the black and white in me. Finance people tend to see things more as probabilities and miss the emotional parts. However, there certainly...

An 8% Simple Return for Eight Years

Most people take social security early, and I understand many of the reasons why. People don’t think it’s going to be around, short life expectancy expectations, everyone else is doing it, etc. However, I was recently...

PSA on Health Savings Accounts

I'm seeing an alarming number of people not utilizing their health savings accounts effectively. If you have the means to pay for medical expenses out of pocket, using your health savings account as an investment account is a brilliant...

Sometimes Tom’s Articles Bore Me...

Sometimes Tom’s articles bore me, so he thought I should write an article on a speaker that I heard recently. We have adopted many of his principles regarding money with our children, and I was completely sold on his information....

Financial RoadMap

When I first started driving, there were three ways that you could get to an unknown destination. The first method was just to start driving, and hopefully, you'd get there on time. Taking a Sunday drive through the country...

The World is Changing, Should Your Investments Change Too?

We have quietly been managing portfolios for a small number of clients whose desire has been to avoid holding certain types of investments, for years. This investment style is usually referred to as Socially Responsible Investing or...

The Top 10 Reasons to Start Financial Planning Early

It seems the common perception is you need to be nearing retirement or have already accumulated a significant portion of your life savings before considering to work with a planner to build a financial plan. While starting a financial...

How your tax bracket might change and 7 other great infographics

To Roth or not to Roth by age and income How long do you have to live and how much do you need to earn for Social Security Claiming strategies Motivation to get started, or not even bother? If you don't need a big income in retirement...

So excited with my new normal distribution device!

click on the image for short video

Burial Insurance

I had a friend come into the office recently that had a question about buying final expense insurance or, put more bluntly, burial insurance. This is life insurance that can be bought without having to go through the traditional...

Loving Equally and with Mathematical Precision

With recent investment performance, we are seeing more grandparents and parents reviewing secondary financial goals, such as college planning. Often when the first child is born, parents and grandparents alike are excited and motivated...

Not Funny

It recently struck me as “not funny” how our latest financial planning software euphemistically refers to my clients dying as “end of plan”. Although I shouldn’t be so harsh, I too like to make light of...

Costco tip to maybe save you $400

Debate abounds whether this health kick will hold, but after some family health scares, I bought myself a treadmill for my birthday. While patiently waiting for my 300+ pound fountain of youth machine, I happened to notice that the...

Allison may hate this, but I think our maintained $4,000 SUV works just fine

We aren't car people, so why not let someone else waste $50,000 on depreciation, and use the money saved for more important goals? I read a study a few years back on when was the optimal mix of value vs. risk for buying a used car. It...

The Dow just passed twenty-six thousand, should you sell?

So should you sell when the market makes a new top? Probably not, since we have likely already done so as part of our process. The main caveat is unless your situation has changed dramatically, for example if you can’t work...

What a Year!

2017 Highlights include: Politics – Continued to produce major headlines. Tax Reform – Approved at the 11th hour, and provided last-minute tax planning for accountants everywhere. Double-digit market returns –In the...

If you like visual representations of financial data, here are some of my recent favorites

These are from JP Morgan Full JPM Guide to the Markets slide deck available here This article represents opinions of the authors and not...

Eight late-stage college planning strategies you don't know about but should

Recently I had the opportunity to learn from Chris Wills from collegeinsidetrack.com. He's a specialist on how to fund a college education. He claims to help about half a million students per year and saves on average over 75,000 off...

Social Security tips from the Guru herself

Mary Beth Franklin writes a weekly Social Security tip column for one of my favorite magazines Investment News, and was recently in town sharing some good information. When looking at SS claiming strategies, wrapping our heads around...

The Cabin Trust Solution

If you have a family cabin that you would like to leave as a legacy to your family, this might be of interest. Recently I had the opportunity to learn from an attorney in the Twin Cities that specializes in cabin trusts, Joel Mullen....

When will the market crash?

It seems like every weekday for the last five years someone has asked me, “When is the stock market going to crash?” This has been almost the longest bull run in history at 9 years, and as it stands we're essentially at an...

What are your dominant charitable motivations?

Recently I learned more about some of the specific reasons we give from the Minneapolis Foundation. Now you don’t have to be in a single category, you might see yourself in several. But narrowing this down this can help identify...

‘Tis the season to consider giving, and here is some food for thought:

‘Tis the season to consider giving, and here is some food for thought: For many people giving to family reduces the amount that will go to the government, and keeps those hard-earned assets in your family instead. There may be...

Holistic financial planning

Holistic planning is defined by ISC Financial Advisors as - Evaluating all your moving parts, creating a unique strategy specific to your situation, goals, then working with your professional team to design and implement your plan with...

If you know someone who is grieving, these rough notes may be helpful.

I recently heard a presentation from Amy Florian; she is a “Thanatologist” which is the highest level of certification in grief studies. She lost her husband at 25, and has studied how to help people suffering ever since....

Schwab is now providing charitably minded clients a checkbook for their IRA’s!

I’m a little embarrassed to be so excited about this, but here we go: Schwab is now providing charitably minded clients a checkbook for their IRA’s! In the past, we were whipsawed by last-minute tax law changes on whether...

You never know

People often amass large positions of one company stock; it can be from stock options, significant appreciation, inheritance, etc. I see it all the time. Recently I saw a portfolio with two companies that had been held for probably...

Did you ever hear these sayings?

Well they kept going through my mind recently as I went to see an orthopedic surgeon about my knee that has been giving me some trouble. I popped it, and figured I would walk be able to walk it off. Lo and behold, that was a terrible...

Dance Like the Undertaker

When I was growing up during family weddings, there seemed to always be one man who was first on the dance floor and last off at the end of the night. He overflowed with a passionate enthusiasm for life, and left an impression on me. I...

Times continue to change for the better

Most people assume that when they go to a doctor, the care given will be in their best interests. This has also been assumed by those seeking financial advice from a professional, but, to many investors’ surprise, this does not...

Some really remarkable volatility levels and more

Some really remarkable volatility levels and more from SSGA Is this the calm before the storm? Price to book is at 15-year highs for the S&P 500 Index Some industries stand to benefit more from the proposed tax breaks if they go...

Paperwork is boring but it can be good

Are you wondering what to do, when you are faced with a class action lawsuit on one of your investments? You probably get lots of junk mail from companies that you own stock in, but once in a while, there is a piece of paper that might...

How to save $50,000 or more per year pre-tax with a cash balance plan

Download here: Cash Balance Plans

We are excited to announce the launch of your new online account dashboard!

If you have Schwab accounts with our firm, some of the potential benefits to you include: Quickly view all of your accounts on one page with the household view Access up to date balances, account values and create custom reports Share...

Gut Check - Now that the market is high, it may be time to revisit the risk

One of the hardest parts of investing, other than making the money to put to work is controlling one's emotions when times are scary. Preparing yourself in advance to be aware of the risks is a great way to reduce anxiety, and prepare...

Some of my favorite big picture updates from JPM

full slide deck here https://am.jpmorgan.com/us/en/asset-management/gim/adv/insights/guide-to-the-markets This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do...

7 Tips to staying the course with your investment strategy at work

We have recently seen some large swings, both positive and negative in the equity markets. While these swings are typical and expected in any market cycle, they can make some investors nervous. Below are a few thoughts to help you...

The one that almost got away…

My father-law-in asked me to join him on a fly-in fishing trip to Ontario, Canada. When we got to camp, I put together my fishing rod but was having some problems with the reel. Instead of reeling in the fishing line, the reel was...

Why not have your cake and eat it too?

Please read if you have significant assets within your retirement account! There is a planning option that we recently learned about that you may want to consider. Typically, spouses simply leave their individual retirement account...

The big data breach and you

A few clients have reached out to us recently with questions about the big data breach from Equifax. If you are a client or prospective client, and have questions about this information or want to brainstorm regarding your specific...

Tips to staying the course with your investment strategy in your retirement account

Swings are typical and expected in any market cycle, they can make some investors nervous. Below are a few thoughts to help you navigate this choppy market. Asset Allocation - Make sure your investment account is properly invested...

I literally just got 10 Trillion dollars in the mail

Be careful out there! Check out the history of their inflation here. Take care, Tom

Finding a Financial Planner, You Can Trust

Looking for a Financial Planner you can trust? This post gives some things to consider when looking for one.

If you bet on the end of the world and you “win”, who are you going to collect from?

This a timely message. In "Worrying About Risk Can Be Very Risky" Tony Isola frames the endless turmoil we are seeing in today's world, and how it relates to your finances. A few years ago, I never would have thought we would be...

We are pleased to announce the promotion of Charlie Achterkirch and hiring of Matt Bennis

Charlie’s great work has earned him a promotion to an advisor role on the team with Tom Gartner and Tim Jaynes. His primary duties moving forward will be to work closely with Tom and Tim on client service and investment...

Knowing That We Don’t Know

Knowing That We Don’t Know Knowing that we don’t know certain things, and then planning with that in mind can make a big impact on investment results. Very few people thought that the stock market would rally 10+% after the...

Rising Education Costs: Paying more to be paid less

Charles Achterkirch Investment Advisor Unless you have been living under a rock, it is highly probable you have seen a news program or read an article on the topic of increasing costs of college tuition. It seems that a lot of the...

Up to our eyeballs!

Chad Duppong, CFP®, ChFC, CLU Certified Financial Planner at ISC Financial Advisors Over my career, there’s one topic that no one wants to talk about when divulging their finances to me. I’m not sure why this topic is...

Health Savings Account – The ROTH IRA on Steroids.

Over the course of the last two years, we have seen many companies either add or switch entirely to a high deductible health plan for their employees. For some companies, the high deductible health plans compliment a major medical plan...

The Financial Football

Tom Gartner, MSAPM, CFP® Independent Fiduciary Advice Do you remember during the cold war years the President carrying the nuclear “football”? It was a brief case which held the launch codes to authorize the use of...

I had the opportunity to hear a billionaire speak the other day.

Jamie Dimon, CEO of JP Morgan is famous on Wall Street for being one of the “good guys.” He and his colleagues had a lot of insights about the current state of the world. Below are my distilled notes in case you are...