A topic that’s been in the news recently is the so-called K-shaped economy. Imagine a chart plotting the relative standing of those with higher incomes compared to those with lower incomes over time. Owing to a strong stock market and rising home values, the shape of the chart for folks with higher [...]
A new way to save
Innovation in the world of retirement plans is decidedly slow moving. But as of July 4th, investors now have a new savings option known as a Trump account. In short, these are retirement accounts designed specifically for children. Trump accounts share some similarities with traditional individual [...]
Incomplete information
When it comes to financial decisions, there are, I think, two answers to every question: what the calculator says, and how you feel about it. There’s a fly in the ointment, though: Calculator answers might appear to be based in logic, but they’re still imperfect. Why? Ian Wilson, a former executive [...]
The Optimal Financial Plan
Before he died last year at the age of 99, a friend asked Charlie Munger if he planned to leave his considerable wealth to his children. Wouldn’t it impact their work ethic, his friend asked. “Of course it will,” Munger replied. “But you still have to do it.” “Why?” his friend [...]
Five Estate Planning Considerations
Mick Jagger is among the most successful entertainers of our time. But despite his wealth, Jagger tells his eight children that they’ll need to make their own way. Similarly, Shaquille O’Neal tells his children that they can earn some of his millions, but it won’t necessarily be given to them. Actor [...]
