This Is the Time to Fund Tax-Preferred Accounts

Friday, 27 March 2020
Robert E. Dockendorff, JD, LL.M

This Is the Time to Fund Tax-Preferred Accounts
There's a sale going on...

The silver lining in a temporary decrease in financial assets is the ability to get a better entry point on planned investment and ride up a future rally in tax-preferred accounts like Roth IRAs, 529s, and HSAs.  

Moves to Make During Down Markets

Thursday, 19 March 2020
Robert E. Dockendorff, JD, LL.M

Moves to Make During Down Markets
Take Advantage of A Temporary Drop In Asset Prices

It’s definitely hitting the fan out there. The virus has hit almost every asset class and nothing is safe other than cash. Even bonds are selling out.

This is the proverbial “Black Swan Event” that, no doubt, creates a sense of panic every time we look at the markets.

But you should look at this as a temporary downturn in financial assets.

 

Remember Your Training

Friday, 28 February 2020
Robert E. Dockendorff, JD, LL.M

Remember Your Training
Don't freak out when the market goes south.

Since Monday the Dow Jones has tumbled further than any week since October 2008. The equity markets are officially in correction territory and most experts are attributing the selloff to the effects of the coronavirus.

In light of the market mania, it can be difficult to stick to fundamentals and very easy to abandon your prior planning and hard work.

 

Don't Rush To Pay Off Your Mortgage

Wednesday, 29 January 2020
Robert E. Dockendorff, JD, LL.M

Don't Rush To Pay Off Your Mortgage

This may sound absurd to some people, especially those of an older generation, but I almost never advise clients to make an early or lump sum payment on their home mortgage. 

It's not the 1980s anymore. Mortgages are no longer a double digit interest rate monster that wreak havoc on your personal finances. 

 

Did You Miss A Great Year In the Markets?

Friday, 27 December 2019
Robert E. Dockendorff, JD, LL.M

Did You Miss A Great Year In the Markets?
When you time the markets, you miss great years.

By all accounts, this was a banner year for many asset classes. Bonds are up over 8%. But somehow, I suspect many people did not participate in this growth because of the market volatility that occurred in 2018.

 

Trading Fees Go to Zero...Who Cares?

Monday, 16 December 2019
Robert E. Dockendorff, JD, LL.M

Trading Fees Go to Zero...Who Cares?
This cost is a non-factor for long term investors.

Much media hype has been made around discount online brokerages like Schwab and Fidelity cutting their fees from $10, to $7, to $5, and finally $0. For long term investors, this is a trivial cost that massive companies want you to think is important so you invest in their funds. 

Financial Planning Win: The Value of Persistence

Thursday, 14 November 2019

Financial Planning Win: The Value of Persistence

Sometimes, making good financial decisions is simply about understanding your options, choosing a course of action, and following through with persistence. 

My client had worked for the same employer since the mid 1970’s. He was on track to retire around age 67. In early 2019, however, he had a health event that caused him to be hospitalized for several weeks, with months of recovery thereafter. 

This was an unplanned retirement. 

529 Plans Are the "No Brainer" College Savings Vehicle

Wednesday, 30 October 2019

529 Plans Are the
529 Plans Are Your Friend

I’m often surprised by the level of skepticism I hear regarding 529 college savings plans. 

The 529 plan allows for easy investment choices, tax free growth and tax-free distributions to pay for college. With an early start to funding, this can create tens of thousands in savings for a family over the many years leading up to college.

With College Savings For Little Ones, Just Get Started and Do What You Can

Friday, 11 October 2019

With College Savings For Little Ones, Just Get Started and Do What You Can

So many of my clients express a huge desire to save for their kids’ college educations at the expense of their own retirement. I’ve also seen parents mortgage their home and liquidate portfolios to make tuition payments. As soon as an acceptance letter arrives from a target school (or any school, sometimes)—the examination of cost is almost absent from further action. It becomes “pay the bill by any means necessary.” 

The TRUE Value of Financial Advisors

Friday, 06 September 2019
Robert E. Dockendorff, JD, LL.M

The TRUE Value of Financial Advisors
Work With Someone That Does It All

In a prior article I explained how advisors add value to investment accounts, but the value of financial advice extends well beyond investments. Worthwhile financial advice professionals should seek to grow and protect a client’s total net worth—rather than simply maximize investment return on liquid assets. 

Do Financial Advisors Add Value to Investments? Yes, But Not How You Might Think

Friday, 09 August 2019
Robert E. Dockendorff, JD, LL.M

Do Financial Advisors Add Value to Investments? Yes, But Not How You Might Think
Don't Freak Out About Investments

A few studies have examined the value of financial advisors, from an investment standpoint. They all seem to conclude the same thing—that the value of a financial advisor is not in finding the best investments but, rather, designing a basic, workable plan, and more importantly, serving as an accountability partner and barrier from making a big emotional mistake.  

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