Financial Education/Literacy

Book Review: Trusting Financial Advisers 0

Book Review: Trusting Financial Advisers

Posted by on May 23, 2016 in Consumer Finance, Fee Only Fiduciary Financial Advisors, Financial Education/Literacy

Here we go again. That five letter word T-R-U-S-T leads directly to our emotions. Who can we trust with our investments? How do we know that a fee-only financial adviser is trustworthy? In my previous blog post (Trust and Investing), John Bogle wrote that the only thing you can trust is that the economies of the entire planet will grow over time. As a do-it-yourself investor, you can eliminate trusting an adviser. I thought I will take up this topic again through a book review because many of you want help, and there are trustworthy fee-only advisers. This book might provide clues by the language which reflect trust that these advisers use.

According to the authors, you are not the only one who might not trust an adviser again. Most Americans are still reeling over the 2008 stock market crash. Because of 2008, trusting a financial adviser and the industry has radically changed according to the authors. They wrote: “The roots of negative selling run deep. It has a long history of success. But our culture has changed, and negative selling is no longer consistent with who we are as consumers…Yet salespeople still often find themselves in that gray area between creating fear and illustrating a need-which in turn costs them sales.”

While the book’s primary audience is for the financial professional, my review might help you gain confidence on how to evaluate a potential adviser. Remember, you are interviewing potential advisers, not the other way around. My review of this book addresses the trust problem head-on and it’s for people who are looking for a trustworthy financial adviser.

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Steve’s Investment Seminar Comments 0

Steve’s Investment Seminar Comments

Posted by on May 8, 2016 in Beginning Investing, Financial Education/Literacy, Passive Investment Strategy

Additional workshop results from retired participations at one of the country’s biggest senior centers, Mizell, located in American’s premier retirement destinations, Palm Springs CA. I was asked by my friend Dave to give my presentation that Dan and I had given in the last 3.5 years.

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Investment Workshop Evaluation Results 9

Investment Workshop Evaluation Results

Posted by on May 1, 2016 in Beginning Investing, Financial Education/Literacy, LAUSD Employees, PreK-12 Educators, Retirement Planning

Every time we offer one of these rare investment workshops, the workshop participants always comment that they want “more of the same.” Only two per year can be provided because of costs. UTLA and LAUSD do not fund these workshops. To their benefit, UTLA does provide the room, and Eva for paperwork and logistical support, and we thank UTLA for that support. On the other hand, LAUSD has rejected support for these workshops for years. We need to inform the Board of Education that financial literacy education is a significant benefit for their employees. If more employees knew of the district’s Award Winning 457(b) plan, more educators would save money for retirement and in the long term would save the district money.

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Three-Year Anniversary: PBS Frontline 401(k) Documentary! 0

Three-Year Anniversary: PBS Frontline 401(k) Documentary!

Posted by on Apr 23, 2016 in Fiduciary Standard, Financial Education/Literacy, Retirement Planning

On the evening of April 23, 2013, Dan and I watched at a Bed and Breakfast in Philadelphia the much-anticipated PBS Frontline “The Retirement Gamble”. We were in Philadelphia because we gave our presentation about our just released book, Late Bloomer Millionaires, to 100 Vanguard employees. We were part of Vanguard’s diversity outreach to hire LGBT employees. It was a very exiting time!

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L.A. Teachers: LAUSD’s Award Winning 457(b) Plan Presentation 2

L.A. Teachers: LAUSD’s Award Winning 457(b) Plan Presentation

Posted by on Mar 31, 2016 in Financial Education/Literacy, LAUSD Employees, Laymen to Laymen Financial Information, PreK-12 Educators, Retirement Planning

The first 100 Retirement Investment Workshop participants will get a complimentary paperback copy of Fighting Powerful Interests! (You can also get my free book right now on this blog as an eBook).
To register for the Saturday, April 16th workshop at UTLA headquarters, call Evy Vaughn, UTLA Conference Secretary (213) 487 5560 or register online by clicking “Learn More” below.

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2016 Portfolio Plan, Market Crash and Additional Financial Goodies

Posted by on Jan 20, 2016 in Consumer Finance, Do it yourself investors (DIY), Fiduciary Standard, Financial Education/Literacy, Personal Finance

Today’s post is a follow-up to my previous post about my 2015 portfolio return. In the first weeks of 2016 the stock market had its worst beginning of the new year ever. That is a strong and historic statement. Is there anything we should be doing different? As long as you have a low-cost, diversified plan across all major asset classes and that the stock bond split is appropriate for your age and willingness to take risk, there is no reason to change your plan or to capitulate. In fact, it is not good to change your plan to a less risky portfolio while a crash is underway. Check out my portfolio during this current crash.

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