Hi Friends, It’s June and graduation time. I know a very bright high school graduate that will be attending college to major in finance. Since I know something about the industry through my extensive reading and as an ordinary investor, I wrote the following graduation message to him. Hope you enjoy it, Steve Late Bloomer …
Fiduciary or “Plastics”: Words of Wisdom for the “The Graduate” Read More »
The blog post will go help you recognise on-the-spot a fee-only fiduciary financial adviser. It is my vision of what a conversation might look like between a client and an adviser who genuinely looks out for your best interests. If you read this blog post you will be doing yourself a great favor and reducing your anxiety about your success of finding a financial adviser that is genuinely helpful, knowledgeable, a good listener and is competent and confident enough to teach clients to feel confident in their decisions.
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!
Dear Readers, With 4,988 hits spanning 5 years, my article, “Did Garrett Planning Network Pass the Smell Test?“, has been my most popular blog post. I asked Sheryl Garrett to share what she and her staff did as a result of my report to them about one of their adviser’s unethical behavior. Sheryl gave me …
Garrett Encourages Reporting of Unprofessional Behavior of Advisers Read More »
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.
Before I report on my takeaways from this year’s conference, I want to discuss the background of NAGDCA and what this wonderful professional organization does for us. Our Los Angeles Unified School District “Retirement Investment Advisory Committee” members may not realize how important NAGDCA is in supporting and assisting us with our ultimate goal of reforming the 403(b) into a fiduciary powerhouse. Public K-12 403(b)s have never been a fiduciary. Thus, LAUSD took advantage of showing the world by providing a fiduciary example with our Award Winning 457(b). Sandy and I thank the committee for voting to pay for our expenses in each of the last four years. We thank Benefits Administration for paying the annual NAGDCA governmental membership fees. Without LAUSD’s institutional membership, Sandy and I could not attend. Finally, we thank this great organization for doing the right thing for all public sector employees.
Dr. Bernstein starts with a simple three-fund portfolio. The Total Stock Market Index, Total International Stock Market Index, and the Total Bond Market Index are spot-on for those who already have the basics of a diversified investment solution.
When it comes to stock market investing and financial advisors, trust is a big deal. Many articles have been written about trust by the financial profession. This article takes on this complex issue from a consumer’s point of view.
For a decade, I have listened to Paul Merriman’s podcasts. His list of financial topics spans every conceivable idea and common sense investing strategy. His understanding of the investing process and constructing a simple or complex portfolio is top notch. In this post, I recommend that you listen to one of his podcasts. Here’s why. …
Part 2 of a 3-Part Series: A Way Around Costly 403(b) Plans (Click here if you missed Part 1) In so-called ‘open vendor’ states, high-cost 403(b) plans may be side-stepped by turning to 457(b)s, explains plan-participant advocate Steve Schullo. W. Scott Simon, 06/10/2015 W. Scott Simon is a principal at Prudent Investor Advisors, a registered …
Part 2 403(b) Interview: by Fiduciary Attorney W. Scott Simon Read More »