Retirees face several risks when planning for retirement. Some of the biggest risks retirees face are market risk (assets will decrease in value), inflation or purchasing power risk ($1 today might not get you the same amount of goods 10 years from now), business risk and interest rate risk. These all pose serious problems for… [Read More] Planning for Retirement, Better to be Safe Than Sorry
Lessons Learned After Two Years in the Business
I started working full-time for Mullooly Asset Management a little over 2 years ago. I graduated college with some basic knowledge about the stock market and was eager to learn more as my career started. As they say, the best way to learn anything is by doing it. I want to take some time to reflect… [Read More] Lessons Learned After Two Years in the Business
Questions to Ask Before Working With a Financial Advisor
There needs to be a discovery period between advisor and prospective client. It should be conducted almost as an interview. Both advisor and prospective client NEED to find out if the relationship will be a good match. Each situation will be different, but here are a few essential questions every prospective client should ask their… [Read More] Questions to Ask Before Working With a Financial Advisor
Fiduciary Rule Has Led to an Awakening
The fiduciary rule is partially in place as of June 9th. The most important thing this rule has done for the investing world is it has woken the public up to how important it is to work with a fiduciary adviser. What does being a fiduciary even mean? Well it means that you have to… [Read More] Fiduciary Rule Has Led to an Awakening
Communicating About Student Loan Debt
College has never been more expensive than it is right now. The numbers above don’t even include room and board! The rising cost of college has led to an explosion in student loan debt in America. There are some great savings vehicles that can help families save money for college and hopefully reduce the need… [Read More] Communicating About Student Loan Debt
Roth IRA Contributions for Single Filers and Married Couples
In my last post I covered the basics of the Roth IRA. However, figuring out Roth IRA contributions can be tricky due to the phaseout rule. In this post I will provide examples of how to calculate Roth IRA contributions for a single tax filer and a married couple filing jointly. Single Filer If a single… [Read More] Roth IRA Contributions for Single Filers and Married Couples