When we begin working with new clients, we try our best to explain investing is (to some small degree) a participation sport. Clients need to be involved! And for the most part, clients get it. I’d like to believe we do a good job of explaining what’s needed and we stay in good contact. But… [Read More] Coercion versus Changing Behavior
Financial Planning Help with Mullooly Asset Management
At Mullooly Asset Management we want our clients to think of us as their personal CFO (Chief Finance Officer). We address many topics/questions that our clients ask us in this section. Financial planning is a very broad topic, some of the specific areas covered here include: saving for college, retirement savings vehicles, retirement planning, investor behavior, financial goal setting and much more.
Here are some of our most recent articles:
We have a lot of clients who work for municipalities. These folks often have the ability to “retire” at massively different ages than other folks. And that’s great for them. But it’s forced us to use different “language” when talking with clients. A client (we will call Joe) is “retiring” this year at age 66.… [Read More] “Retire” versus “Drawing Down Assets”
Over the past couple weeks, we’ve seen some interesting financial situations stroll into our office. It’s odd how people in better financial shape are often the ones concerned they aren’t going to have enough money to retire comfortably. The people in worse financial shape are often the ones asking the wrong questions, focusing on all… [Read More] Is Your Financial Plan Built on a Sinkhole?
To conform is human. During the Stone Age, our ancestors learned to fit in with their tribe. If they didn’t adopt the tribal culture, they were banished. Being banished was essentially a death sentence, so humans learned that fitting in was a pretty solid survival technique. This desire to conform has since baked itself into… [Read More] Don’t Invest Like the Rest
I’ve grown very fond of a feature within The Weather Channel app. It’s called the GoRun Index. The index uses a 1-10 scale to rate running conditions. 1 indicates difficult conditions and 10 indicates prime conditions. What I like about the GoRun Index is that it’s identified four important factors that affect conditions. These factors… [Read More] The Right Conditions
According to an article published in 2015, approximately 64% of Americans do not have a Will. My question to those (nearly) two-thirds of Americans without a Last Will and Testament is this: what are you thinking? There are apparently lots of folks who (mistakenly) believe: Wills are only necessary if you have a multi-million-dollar estate.… [Read More] Make a Will, today!