As a financial advisor, I am typically hired by clients to help them manage their resources. Most often, these are financial resources including cash, investments, etc. Sometimes I help people to manage their business resources such as connecting professionals, encouraging action, and providing advice to help make sound decisions. But there is one resource that […]
DENVER, Colo (March 5, 2019) – With today’s stock market swings, Steve Booren’s new book, Intelligent Investing: Your Guide to a Growing Retirement Income, will help readers understand how to retire intelligently. It will equip them with the knowledge needed to get started, as well as an easy to follow investment strategy.
Financial advice is usually broken into three steps. First, define your goals. Where do you want to go? Next comes a plan. This is the recipe for working toward your goals with actionable and measurable steps. Then comes implementation when you start your plan. The first two steps lay out the “What” of your financial […]
As financial advisors, we receive questions about all types of investments. Here’s one we recently heard: I am a doctor, and many of my friends and fellow doctors are getting into real estate. There is a group that invests in local deals in our area, and it is easy. All I have to do is […]
The financial markets have given investors quite a ride in the past few months. Not only have we seen a drop in the prices, but the volatility and multiple-percentage point days seems to have investors feeling a little seasick. The first thing queasy people want to do is to get off the boat. This is […]
With the year coming to an end, 2018 has been a tumultuous one for investors. For the first time in 46 years, there has not been a clear winner in any asset class: from stocks to bonds, emerging markets to precious metals. As of this writing, none are on track to generate a better than […]
Regret may be the most enduring and damaging emotion investors grapple with during their financial lives. As financial advisors we see it from both sides: clients either regret having done something, or regret NOT having done something, or more often, both. Like a cancer, regret can crawl into all facets of your financial life and […]
Shark Week is among the longest running and most popular cable programs in history. First appearing 30 years ago in 1988, the show has since been watched and celebrated by millions. Why would a program about sharks and their danger be so popular? I think it plays on the emotion of fear, and more interestingly, people’s desire to be a little bit scared.
My point is this: sometimes our greatest fears are the most unfounded. Whether it’s an oversized fish or monsters under the bed, our worst fears take up an oversized portion of our conscious and drive actions that can be damaging and counterproductive. Fear is a powerful emotion and one you must learn to rein in if you want to be a successful investor.
When you are stuck in traffic on the interstate, creeping along, do you find yourself wanting to switch from one lane to another? Do you glance to the left and see the “fast lane,” and are envious of how quickly they are moving? You look for an opening, signal and move over to gain some […]
Wealth is a mindset. In my years as a financial advisor I’ve worked with many wealthy individuals who have everyday-type jobs. From bus drivers to teachers, entrepreneurs to an administrative assistant at the Chamber of Commerce, I’ve learned that income is not the best determinate of future wealth. Instead it’s a mindset, one I like […]
When do you plan to die? Weird question, right? It’s one that financial advisors have to ask their clients. The typical approach to retirement planning involves spending down the portfolio, a lifetime of savings for a client, at a rate that will ensure they have enough to live on now and for the rest of […]
Many people believe the stock market is risky. It’s often described as a casino, using words like crash, falling, and my favorite Wall Street word: “correction” meaning falling 10 percent or more from a previous high price. My definition of a correction is a temporary decline, which is then followed and surpassed by a permanent […]
Most business owners can feel the pulse of their business. If you own a coffee shop for instance, you can go to the location, see and interact with your employees, touch your inventory, and keep your customers happily caffeinated. You can smell the aroma of your business. You can feel it. What if you had that same feeling as a shareholder of a public company?
There’s $15 on the line, and your buddy is stepping up to a 10 footer for a birdie on the 18th hole. It’s a slippery putt, but not slippery enough. As he takes his shot, human nature kicks in. “Miss it, miss it,” we say to ourselves. But there is no level of hoping or […]
Imagine you have a business relationship with a partner. You work and run the business, and take home 65 percent of the profits for your efforts and your partner received 35%. Last December your partner recognized your hard work and rewarded you with an additional 14 percent of the business, reducing their take to 21 percent.
Join us for a practical and timely conversation with Scott Lumpkin, a veteran in planned giving and former university fundraiser with more than 20 years of experience helping donors give with purpose.
