"Financial Life Planning" column by Mitch Anthony at Financial Advisor magazine. Recently, The Economist published an intriguing editorial asking what we are going to call the older people lingering between “work and decrepitude,” an expanding demographic that right now lacks a proper name, though some flippant ones include “geriactives” and “sunsetters.” According to the Census Bureau, [...]
by Mitch Anthony Few conversations are more fascinating than what money means in our lives. People constantly mull, study, worry, regret, scrutinize, second-guess, hope, and fantasize over money. At its best, money helps us live fulfilling lives. At its worst, money becomes an obsession. Consider the following questions: "What are you invested in?" "What do [...]
by Steve Sanduski Over the next few years, it's going to become harder and harder to maintain the 1 percent AUM fee that is common in our industry. From my perspective, there are two possible ways to address this challenge: Deliver much more value for the fee than you do today. In this scenario, you'll need [...]
Originally posted at Abqjournal , by Donna Skeels Cygan.Is Sunday evening the best part of your week? Many recent retirees tell me they savor their Sunday evenings, because they are no longer stressed about going to work on Monday morning.Today’s article covers how to prepare psychologically for retirement. Next month’s will cover how to prepare financially for [...]
If you want to rein in your spending, there's a way to make the process easier: Check your values. "For a lot of people, there's a disconnect between what they say is important and how they're spending their money," said certified financial planner Tammy Wener, co-founder of RW Financial Planning. It's a phenomenon that a [...]
Originally posted at CNBC , by Deborah Nason. Retirement is the big financial finish line, but clients often don't know what they want to do when they get there. Advisors are delving into psychological aspects of retirement planning to help them figure it out. The need for this became clear to Amy Jo Lauber, certified financial planner [...]
by Mitch Anthony Over the past several months, we've discussed many of the concepts that can help you add value to your practice through retirement coaching. This month, we'll wrap up our discussion. Retirement coaching is a holistic process that involves working with your clients on two levels: Quantitative: This process involves focusing on the "financial" [...]
"Financial Life Planning" column by Mitch Anthony at Financial Advisor magazine. To find my home in one sentence Concise, as if hammered in metal Not to enchant anybody Not to earn a lasting name in posterity, An unnamed need for order, for rhythm, for form, Which three words Are opposed to chaos and nothingness. —Czeslaw [...]
Financial Life Planning column by Mitch Anthony and Steve Sanduski, CFP®, published in Journal of Financial Planning. In our introductory article on Return on Life, or ROL-centric planning in the May issue, we asserted: “If you want to change the dynamics of the financial relationship to a value that is most meaningful, start by [...]
by Mitch Anthony One of the greatest powers of money is that it can help buy independence. All of us want to get to the point where we can do what we want, when we want, where we want, and with whom we choose—a nearly perfect description of Return on Life™ (ROL). I'll bet many [...]
by Mitch Anthony While money can be used to forge independence, it can also drag us down and impede our goals and dreams. Money has the power to help us find significance or to drive us further into despair, depending on how we appropriate it. Money can be utilized in a way that introduces a [...]
"Financial Life Planning" column by Mitch Anthony at Financial Advisor magazine. “You are not competing with anyone else. You are only competing with yourself to do the best with whatever you have received.” —L. Tom Perry In my last column, we discussed the cash-flow conundrum faced by so many advisors whose clients want to turn [...]
Financial Life Planning column by Mitch Anthony and Steve Sanduski, CFP®, published in Journal of Financial Planning. Our profession has made several transformations over the past few decades. Prior to 1980, most financial advisers were brokers who sold stocks and bonds on commission. During the 1980s and 1990s, stocks gave way to mutual funds [...]
Originally posted at Next Avenue, by Mitch Anthony. It’s a way to create a retirement income plan designed to simultaneously settle both emotional and financial ledgers and develop an income stream that lasts as long as you do, outpacing the inflation that threatens to rot your nest egg slowly but surely. In order to bring your life into [...]
by Mitch Anthony More often than not, getting retirement right takes work. Like most major life transitions, there are surprises, disappointments, and unexpected detours. If not planned for, spousal relationships, in particular, can be put to the test. In my work with financial advisors, I've heard stories of clients ending up divorced after just a [...]
"Financial Life Planning" column by Mitch Anthony at Financial Advisor magazine. I just finished an interesting call with an astute financial planner—Bryan Sarff, president of True Private Wealth Management in the Kansas City area—who was lamenting the shortcomings of goal-based approaches to financial planning. Bryan said to me: “When we deal with clients on a [...]
by Mitch Anthony If you've heard me speak or read my book, The New Retirementality, you know that the concept of retirement has changed dramatically from when it was first conceived. Now, more than ever, financial advisors have a crucial role to play when it comes to retirement planning that goes well beyond AUM. Determining how [...]
by Mitch Anthony If you've heard me speak—or read my book, The New Retirementality—you know that the concept of retirement has changed dramatically from when it was first introduced. Now, more than ever, financial advisors have a crucial role to play when it comes to retirement planning: retirement coach. Determining how much your clients need—their "number"—is mechanical. [...]
Originally posted at USA Today , by Robert Powell. Retired and non-retired Americans say the freedom of being able to do “what they want, when they want,” is the most valued aspect of retirement, according to a recent Limra Secure Retirement Institute blog post. Trouble is, many retirees and pre-retirees don’t necessarily know how they’ll spend [...]
"Financial Life Planning" column by Mitch Anthony at Financial Advisor magazine. “As he looked up, Jesus saw the rich putting their gifts into the temple treasury. He also saw a poor widow put in two very small copper coins. “I tell you the truth,” he said, “this poor widow has put in more than all [...]