Reed Family Finance

Seriously, What Is Your Best Interest?

Once the new rule becomes effective and is implemented, all advisors must act in the best interests of their clients if they are offering investment advice on any kind of retirement account. Of course, wouldn’t you think that should have always been the requirement? As a result, we have had a lot of people come to our office asking questions about their current investment plan and whether their advisor is doing what is best for them. [...]

What Are Your Rules? Learn From Ray Dalio

Through my evaluation of their current portfolio, I determined that they have a traditional 60/40 split between stocks and bonds. This model is very common within the brokerage world and with “do-it-yourself” investors. The theory is that when stocks go down, bonds go up, and vice versa. And by having a “balanced” portfolio an investor can minimize risk. Sounds good, right? But what happens if just about every asset class falls, and falls fast, just like they did in 2008? [...]

If I Had A Million Dollars, I'd . . .

Prudential studied Americans in their 20s and early 30s. This demographic expects to retire at age 67. According to the study, they will require about a million bucks to afford the retirement they want. But, there is a startling disconnect between the amount of money those millennials will need and the amount of money they will actually have, based on their current financial behaviors. [...]

Until Death Do Us Part... Well, Maybe Not

Many people are so desperate to get out of a bad marriage that they do not consider the toll it will take on their current financial situation and their financial future. In fact, I was recently talking to a friend whose sister just got divorced. He was telling me that his sister, who has two kids, is in a tough position. She is trying to find a decent apartment to rent, now that she cannot afford to stay in the house where they have raised their kids for the last 15 years. The worst part is that she is surprised by the situation she finds herself in. She assumed that she would be able to stay in the house. Unfortunately, this is a reality that many people face when they get divorced. That is why it is so important to understand the financial repercussions of getting a divorce in order to have a plan for financial health moving forward. [...]

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