Suppose that you’re a middle-aged professional with a 30 year retirement time horizon. Your portfolio is 100% invested in U.S. equities–it consists of 100 shares of the S&P 500, worth $187K at current market prices. Assuming that the fundamentals remain unchanged, which outcome would leave you wealthier at retirement: (1) for the S&P 500 to soar 200% in a glorious bubble-like melt-up, or (2) for the S&P 500 to plunge 66% in a brutal Depression-like crash?
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Why Diversify?
You’ve probably heard the expression, “do not put all your eggs in one basket” and that is the heart of diversification – using multiple means to achieve your goals. In the world of investments, diversification is using multiple investments with different characteristics to achieve long-term positive results.
Selecting Life Insurance? Choose Term.
In general, I think it is smart for young people to buy 20 or 30-year term insurance. It takes care of the period where your family is most vulnerable. You get coverage when you are young and healthy, because you don’t know what tomorrow will bring. Then save and invest to build up assets to meet the needs you may have when the term policy runs out...
IFP Interviews
Earlier this year I sat down for an impromptu interview. I was asked about qualifications, my process including financial planning specifically goal discovery and retirement planning. Everyone has a question they'd like to have answered and as you know with Independent Financial Planning, the answer is going to depend...
