UPDATE: With 2019 closing, it's a good time to take stock of your financial situation. Are you being held back by the heavy taxation in your state? Is it possible for you to escape by moving to a different locale? If so, here are the lists of the best and worst states for taxes in 2019. Read with care.  In retirement, there's nothing that can affect your standard of living more than taxation. Property taxes, taxes on your investment income, and even sales taxes can make all the difference in your ability to pursue the retirement dreams you've been working toward for years. Each year … [Read more...]

The Certified Financial Planner Board of Standards is finally taking measures to clean up the error-filled reporting on its website that classifies many troubled financial advisors as having "clean" records. The CFP has been relying on these advisors to self-report any bad behavior, and with predictable results that has failed. Many of the advisors, who are mostly brokers and insurance agents, are regulated by FINRA as well. FINRA has disclosed their bad behavior, but CFP has missed the mark. That might finally change. Jason Zweig and Andrea Fuller report at The Wall Street Journal: The … [Read more...]

This is one of my favorite investment pieces by the late Richard Russell: Rich Man, Poor Man By Richard Russell The most popular piece I’ve published in 40 years of writing these Letters was entitled, “Rich Man, Poor Man.” I have had dozens of requests to run this piece again or for permission to reprint it for various business organizations. Making money entails a lot more than predicting which way the stock or bond markets are heading or trying to figure which stock or fund will double over the next few years. For the great majority of investors, making money requires a plan, … [Read more...]

In high school in the late 80s, my friends and I were part of the snowboarding revolution that Jake Burton was pioneering. I remember in my ski club taking a van full of skis, snowboards, and classmates to Canada. A 10-to-12-hour slog from Marion, MA to Quebec, a brutal drive. But it was all worth it once we were snowboarding from morning to late afternoon for the long weekend. It was such a great feeling because while most were skiing—we were snowboarding. It just wasn’t that common to see a lot of snowboarders at the time. Those were special memories from high school. Snowboarding on … [Read more...]

Live within your means, and debt-free. That's the advice everyone should adhere to. A debt-free life will reduce stress and provide peace of mind. Many Americans struggle to achieve financial security, and as they get older, it becomes even more difficult to do. Alexander Tanzi reports in Bloomberg, that the majority of Americans 65 and older are at "risk of not being able to pay for basic needs." He writes: That’s according to new estimates of financial insecurity among Americans 65 and older from the Gerontology Institute at the University of Massachusetts Boston. The Elder … [Read more...]

You may have noticed it’s been a pretty good year for stocks. Good news, right? Well, it’s all good news until it’s not. With valuations this high, it’s important to gauge your future expectations. Case in point: “When valuations were this high in 2004 and 1997, the next decade delivered after-inflation gains of 4.5% both times, despite enormous market crashes along the way," writes James Mackintosh in the WSJ. The question is, to me at least, how many stock investors were able to stick around and patiently stay invested when things got nasty? What I want you to consider in the … [Read more...]

You know the name Eric Carle if you have kids or grandkids. His books were a big part of our book collection when my kids were little. That’s why this article caught my eye. And how moving I found this quote from the article about a book I read out loud a thousand times: The Very Hungry Caterpillar. Jeffrey Trachtenberg reports on Carle's view of why The Very Hungry Caterpillar has been such a hit with kids for so many years. He writes: In a YouTube video released in January, Mr. Carle said it took him a long time to understand why the title has sold so well before he concluded that “children … [Read more...]