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https://prosperion.us/wp-content/uploads/2018/05/tax-planning-workshop.jpg 533 800 Pat Alfano https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Pat Alfano2020-10-27 09:55:402020-10-27 09:55:40What Are You Doing on November 4th?
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…
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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”…
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If COVID has brought anything to business owners' attention, small and large alike, it's the need for a financial plan before bad news drops. A year ago, the likelihood of a worldwide pandemic effectively shuttering business in the U.S. for six months seemed so outlandish that had you suggested it; you would have been laughed out of the room. In hindsight, that suggestion would have made you look like a genius or a prophet.
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For business owners, improving investor behavior can mean more than a focus solely on financial instruments. The intent of this column has been improving investor behavior, which often discusses market investments like equities, bonds, and…
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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…
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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.
https://prosperion.us/wp-content/uploads/2020/05/elevator.jpg 1066 2000 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2020-05-18 15:05:352020-05-18 15:05:35Improving Investor Behavior: Fear is a Very Powerful Emotion
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.
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Late last week the senate passed and the President signed the CARES stimulus package designed to, among many things, curb the financial turmoil created in the wake of the Coronavirus. This $2.2 trillion, 800+ page legislation offers meaningful…
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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…
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Just 30 days ago, on Feb. 18th, markets were at all-time highs. Today, fear grips the market and recession is at the top of every financial pundits’ mind. Benjamin Graham, said to be one of the best investors of all time, and a mentor to Warren Buffett reminds us: Control what you can control: yourself, your emotions and your response (or behavior) to those emotions.
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A lot can change in 30 days. One short month ago, markets were knocking on the door of all-time highs, businesses were doing well, and Joe Biden was behind several candidates in the Democratic primaries. Oh, how things change quickly. Very…
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As I’m sure many of you are aware, this past week has been a difficult one for investors. The broad market indices have seen swift and dramatic drops, leaving many scared, confused, and upset. Make no mistake; it is moments like these that define all of us as investors. Fear is an emotion, and one that can quickly snowball into an all-out panic. We’ve often said your behavior as an investor will ultimately have a far greater effect on your outcome than when or how you are invested. This is one such moment.
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Cold winter weather means it is soup season here in Colorado, and none feel more familiar than Campbell’s Tomato Soup. Campbell’s tomato soup is an excellent benchmark for understanding the impact of the persistent enemy of all investors: inflation. For more than 100 years, the size hasn’t changed, but the price sure has. About 45 years ago, in 1974, the soup cost about $0.12 per can. Today, it retails for about $0.87 per can. That points to an average inflation rate of 4.3 percent. Forty-five years may sound like a long time, but that’s about the length of a typical retirement.
https://prosperion.us/wp-content/uploads/2020/01/steve-booren-forbes-top-advisor.png 1328 2732 LPL Financial https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png LPL Financial2020-01-31 08:45:262020-01-31 08:45:26PRESS RELEASE: Steve Booren Recognized in Forbes as a 2020 Top Wealth Advisor in Colorado
DENVER, Colo. — January 30, 2020 – Steve Booren of Prosperion Financial Advisors was recently ranked No. 26 in Colorado in the 2020 Best-In-State Wealth Advisors list published by Forbes. According to Forbes, the annual list spotlights…
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The start of the year brings a renewed interest in finance for many people. It’s only natural: fresh starts, new beginnings, and helpful habits all come together to create a positive outlook on a clean slate. May I also recommend taking…
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As financial advisors we’re constantly advocating for investors to maintain a long-term view. We consider it to be fundamental, not only as an example of good investor behavior, but as a way of minimizing the emotional toll of “riding the rollercoaster”. But what does it mean to have a long-term perspective? How long is long enough?
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Money is a resource; there can always be more of it. But time is finite, and there is no getting it back once it’s gone… or is there?
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We try to differentiate the value of a company (worth) versus the price. When you focus on the value of the company, your judgment is far more intelligent.
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If I asked you to define retirement, how would you describe it? Take some time and think about it. You’re probably envisioning white sandy beaches, trips to the golf course, and visits with family, free from the constraints of work and email.…
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Pessimism is poison for investors. Following national headlines would have you believe we are moments away from catastrophe, teetering on the edge of sheer doom. It’s an easy narrative in which to engage, especially when we hear it every…
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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…
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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…
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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…
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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,…
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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…
https://prosperion.us/wp-content/uploads/2018/10/fear.jpg 500 1000 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-10-11 14:26:572018-10-11 15:12:21Improving Investor Behavior: Managing Your Fears
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.
https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png 0 0 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-07-15 12:55:052019-04-08 12:57:45Improving Investor Behavior – Longevity and the Fear of Running Out
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…
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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.
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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? What if you thought like an owner?
https://prosperion.us/wp-content/uploads/2018/04/gbjorvpvmck.jpg 720 1280 Steve Booren https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Steve Booren2018-04-04 13:23:172018-04-04 13:23:17The Difference Between Financial and Investment Advice
With the advent of technology, real financial advice will be a huge differentiator in the financial services industry. Anyone can create a portfolio, asset allocation or investment strategy. We are even told robots can do this with this concept called “Robo-Advisor”. What most people actually need is advice about how their investments fit into their overall financial plan, and more importantly their life. Believe me – robots cannot do this, nor do investment products do this. It takes an experienced, skilled, listening Advisor. Both investment management and financial advice are necessary components for long-term success, but it’s important to understand the differences. So let's compare and contrast the two.
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On November 29th, the oldest living person in the world, Emma Morano will turn 117. Based on my research she is the last living person to have been born in the 1800s. While some people might marvel at all she’s seen and been through, I ‘m curious about what she did during her more than 50 years in retirement.
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As a financial advisor I often see clients with regret. For some investors it’s the regret of missing out on big gains. For others, the regret of taking part in big losses.
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Dividend tax rates are an opportunity for investors. The favored status of qualified dividends means they are taxed at a lower rate than standard income, by anywhere from 10-20% less.
https://prosperion.us/wp-content/uploads/2016/07/dividend_investment_strategy_intro.png 423 756 Dave Anderson https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Dave Anderson2016-07-21 20:31:322017-05-22 15:03:43Our Dividend Focused Investment Strategy: An Introduction
As many of you know, I spent the first 26 years of my working life as corporate pilot. It was an exciting profession and I loved going to my “office” at 43,000 feet. Getting people to and from places safely was always the focus of the job. As a financial advisor I spend my days navigating quite different terrain. But the job is the same: helping people get from here to there safely. So today I’d like to cover our Dividend Focus Strategy, and why we think it’s a smart fit for our clients young and old. Since a picture tells a thousand words, let me draw you a picture. It will be readily apparent why I thankfully did not choose to be an artist – but it will illustrate a few important points.
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Explore the unique history of Denver as told by one of its eminent urban planners Ken Schroeppel. Why did Denver take the shape it did? What will it look like in the next 10 years? Why is the traffic so darn bad lately? Ken will explore all of these ideas and more as he walks you through new projects helping to shape the face of Denver and how past initiatives contributed to our wonderful city. This workshop was originally presented at Prosperion EDU 16.
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https://www.youtube.com/watch?v=YQrmzEwo_Cg I believe it is imperative for investors to understand the difference between volatility and risk. Though often used synonymously, these are two very distinct ideas. We think success can be increased…
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https://www.youtube.com/watch?v=rWRjwiR_edU When I evaluate companies for investment there’s always one character trait I look for, disruptive innovation. These troublemaker companies aren’t content with the status quo and dare to be…
https://prosperion.us/wp-content/uploads/2013/05/5_steps_to_retiring.png 426 760 Craig Arfsten https://prosperion.us/wp-content/uploads/2017/02/whitelogosized.png Craig Arfsten2013-05-03 16:47:212017-05-22 15:11:27Thinking about Retiring? 5 Steps to Get Started
https://www.youtube.com/watch?v=jZTZ8ArcSb8 So you're thinking about retiring. That's a big decision. There is a good chance you'll be retired for as long as you worked. Think about that – 20 to 30 years - that's a long time to be without…