Why Do People Really Buy Gold And What Are The Alternatives?

Gold bars and coins

Warren Buffet once said, “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again, and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”[1] However, as the global pandemic impacts have wreaked havoc on financial markets, investors have started looking elsewhere to find safety. One of those areas is gold, which has traded at over $1,800 per ounce this year, the highest since 2011.[2] Maybe you or a Martian you know have considered investing in gold as well. So why do people buy gold? Even Warren Buffet, the man who famously stated the quote above, has invested in gold this year. Read on to learn why people buy gold and what other alternatives exist. Read more

Nelisha Firestone

Nelisha Firestone

As a mother and business owner, she knows life can get busy and is full of distractions. However, financial success doesn’t happen without some meaningful planning first. No matter your stage of life, she will help you connect with your goals and craft a roadmap to pursue financial independence Nelisha has 13 years in the financial services industry. She began her career at Edward Jones in 2004 then moved her practice to LPL in 2007 where she worked primarily out of the Coors Credit Union providing advice to their membership base. She’s married to a Colorado native and is mother to two young Daughters, Addison and Eden. They love to spend time in the great outdoors hiking, skiing, and camping to name a few.

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Improving Investor Behavior – Fear: Acknowledged and Avoided

Carved pumpkins
Note

This article originally appeared in the Denver Post, October 25, 2020.

It’s that time of year again when pumpkins start appearing on porches and horror movies are on TV. Halloween is when we indulge in our fear each year. We welcome it into our homes, knowing the temporary fright is sure to pass and make way for turkey and family get-togethers. The human psyche is strange, isn’t it? We run from fear and avoid it most of the year, yet we seek it out on Halloween.

This year, though, feels a little different. For many, the fear is more than ghosts and ghouls, but the far more realistic fears are of viruses and politicians. These fears continue to haunt us, the uncertainty they create doing more to harm our long-term health and happiness than Frankenstein ever could.

What’s important to remember is that fear is an emotional reaction and one over which we have control. We can choose to either ignore and avoid it or welcome it into our homes and lives.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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What Are You Doing on November 4th?

Capitol Building

Election Day, Tuesday November 3rd, is only a week away. While 2020 has been historic, it seems that everyone has a dramatic expectation of what will happen in the investment markets, as if it will be the “next” big 2020 disruption.

This morning I scheduled an appointment with my dentist. While the office’s operations coordinator looked at the upcoming weeks, she asked me “What are you doing on Wednesday 11/4?” Obviously, she was inquiring about my availability, but given that I have been thinking about and discussing the elections and markets with regards to next week as often as I have, my first response was….”I’m going to take a deep breath and proceed with my regular Wednesday routine.” As you can imagine, she was a bit confused by my answer, and expected me to discuss times that I could make it in to the office. I apologized as I laughed with her, and explained that the response was automatic with regards to the election and the investment market conversations I had been having around the same time period.

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Pat Alfano

Pat Alfano

Pat joined the Prosperion Financial Advisors team in August 2017 as a part of the Anderson team, and brings ten years of experience in the financial services industry. Starting out as an “advisor to advisors” in 2007, Pat developed his industry experience by helping advisors bring solutions to their clients with mutual funds, separately managed accounts, insurance based products, and employer sponsored retirement plans. Pat started working with clients of his own in 2015 as an advisor to individuals and institutions, and has enjoyed being able to deliver goal focused results. As an advisor, Pat believes that every individual and group deserves quality financial advice and planning regardless of their stage in wealth accumulation or distribution. As an advisor, Pat develops customized strategies for individuals and organizations in light of their unique goals and aspirations.

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Your Comprehensive Financial Planning Guide For Women

Woman viewing a laptop

Over half of the wealth in the U.S. is controlled by women.[1] You are probably reading this because you are one of those women. Finances can be intimidating, so I have dedicated my career to helping women like you gain the confidence to take control of your finances. This financial planning guide is designed to EMPOWER you to take control and achieve your dreams.

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Nelisha Firestone

Nelisha Firestone

As a mother and business owner, she knows life can get busy and is full of distractions. However, financial success doesn’t happen without some meaningful planning first. No matter your stage of life, she will help you connect with your goals and craft a roadmap to pursue financial independence Nelisha has 13 years in the financial services industry. She began her career at Edward Jones in 2004 then moved her practice to LPL in 2007 where she worked primarily out of the Coors Credit Union providing advice to their membership base. She’s married to a Colorado native and is mother to two young Daughters, Addison and Eden. They love to spend time in the great outdoors hiking, skiing, and camping to name a few.

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Improving Investor Behavior: Keep Politics Out of Your Portfolio

I voted stickers

Note

This article originally appeared in the Denver Post, September 20th, 2020.

With the election a short 45 days away, the news stream is unrelenting. Political TV ads, postcards, and of course those phone calls during the dinner hour – it’s an all-out media assault designed to convince you that if the “other guy” gets elected, the world is sure to end. It’s enough to elicit one of three emotional responses: either anger and outrage toward the opposition and confirmation bias toward your selection, utter fear and terror at what may or may not happen, or complete apathy toward the whole process. Regardless of where you stand, it’s important to recognize the effect that this election might have on your portfolio… or lack thereof.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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Improving Investor Behavior: Blind Spots & Confirmation Bias

Person holding viewing glasses

Note

This article originally appeared in the Denver Post, July 19th, 2020.

We talk a lot about perspective in this article. Our perspective is the lens through which we view the world. It is our way of framing everything we see and ultimately defines how we react to what life throws at us. We believe what we believe because of our past experiences and perception of reality. In finance, investors often share their perspectives (albeit usually too much), which gives us untold insight into how people may be thinking at any given time.

The perspective du jour is that markets are not accurately pricing honest valuations (i.e., stocks are overpriced). But is this accurate or a blind spot in our perspective?

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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Getting Back to Better

Friends enjoying a picnic in a New York park

Note

This article originally appeared in the Denver Post, June 21st, 2020.

As a dad, I’ve always embraced my inner Tim “The Tool Man” Taylor when it comes to Father’s Day. Whether it’s a new drill, pressure washer, or some other home improvement gadget, I’ve always enjoyed gifts that keep me building. In a way, I enjoy the metaphorical message behind it too: tools give me the ability to enhance the environment that keeps my family safe, warm, and protected. It’s what I’ve always strived to do as a father.  

My goal as a parent has always been to build a better future for my kids, and to give them opportunities that I didn’t have. Whether that’s financial, educational, personal, or whatever it may be. It’s an essential part of my “why.” I think deep down there’s a part of us that wants our kids to be better than we ever were. To me, that’s progress and hope. It’s an innate and immeasurable desire – to want our tomorrow to be better than our today.  

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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Improving Investor Behavior: Fear is a Very Powerful Emotion

Elevator buttons

Note

This article originally appeared in the Denver Post, May 17th, 2020.

After almost 45 years as a financial advisor, one realizes that there’s truth behind the phrase, “Reality is made up of circles, but we see straight lines.” Market cycles, crises, and investor behavior are all echoes of things we’ve seen in the past and will likely experience again in the future. No doubt the COVID-19 crisis impacts us all, and while it may feel like something completely new, it really isn’t. This is especially true when focusing on finance.

You’ve likely heard the comparisons of this crisis to the Spanish Flu of 1918. While there are many parallels, this event was long ago. With so many innovations and improvements in the meantime, it’s hard to wrap your head around their similarities and differences. The “what-ifs” prevail. What if they had had better hospitals? What if they had better testing, doctors, technology?

So, for comparison’s sake, let’s consider more recent events. My career includes four large fear-driven market “crises” that come to mind: Black Monday in 1987, Y2K in 1999, the World Trade Center attacks in 2001, and the recession in 2008. Though these events are all unique, they were all the same in many ways.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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Improving Investor Behavior: An Unintentional Sabbatical

Face mask made to look like the American flag

Has it been a month already? In some ways, this feels like the longest 30 days many have ever experienced. For others, it seems to have gone by way too quickly. When much of the world is committed to staying home and avoiding COVID-19, time becomes relative. In many ways, it feels like a sabbatical, albeit an unintentional and unwelcome one.

Sabbaticals are offered as a chance to skip the routine and learn something new. An extended opportunity to challenge your perspectives and grow your skill set. With that in mind, what are you learning during your sabbatical? How will you grow from the experience? What will be different in your life afterward? New? Improved? The Same?

 We’re learning a lot right now, on both micro and macro levels. Lessons about the economy, markets, human nature, and teamwork are appearing daily. If we fail to notice and learn from these, it will be a huge missed opportunity.

In that spirit, here are a couple of things I’ve learned over the past month.

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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Fire Drills and Why We Do Them

Buttons to report a fire or call police

Every meeting we have with clients includes a line item on the agenda: Fire Drill. 

What would you do if the market dropped significantly tomorrow? What would that look like for you? For years now it has felt like an unnecessary discussion point, even with the occasional pull back due due to a tweet or tariff threat. Yet we keep it on the agenda because, in the words of Mike Tyson, “Everyone has a plan until they’re punched in the face.”

Two months ago, no one could have anticipated a worldwide pandemic resulting in a virtual halt of economic activity. Yet it happened. But isn’t that the purpose of fire drills? To know what the plan is if-and-when something disastrous happens?

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Steve Booren

Steve Booren

Steve Booren is the Owner and Founder of Prosperion Financial Advisors, located in Greenwood Village, Colo. He is the author of Intelligent Investing: Your Guide to a Growing Retirement Income and a regular columnist in The Denver Post. He was recently named a Forbes Top Wealth Advisor in Colorado.

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