The Master’s Minute

Helpful Tools and Tips

The Business of Money – What Path is Right for YOU?

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How many speakers do you hear, books do you read, or podcasts do you listen to that give you a specific prescription on how to best run your business? Much of the business media we consume is hoping that you take their specific path to business success. It is what helps them build their brands, sell their products, and have testimonials to promote to other business owners. I have found… Read More

The Master’s Minute – Render Unto Caesar…But Not Yet!

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On or around April 15th every year, many people rush to file their annual income tax returns and make last-minute prior year IRA contributions. However, the past two years have been different. Last year, the tax return deadline was moved to July 15th, 2020. And this year, the deadline has been moved to May 17th, 2021. When implementing these deadline extensions, the IRS has also opted to extend the deadline… Read More

The Master’s Minute – What Are Your Benchmarks?

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In the investing world, it is typical for an investment manager to have their performance compared to a benchmark. A benchmark serves as a neutral measuring stick for potential investors to compare the success or failure of that investment manager. If the manager has worse returns than the benchmark, a conclusion is drawn that they have ‘underperformed”, while if they have better returns, the conclusion is that they have ‘outperformed’…. Read More

The Master’s Minute – Retirement Income (Part 4)

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Running out of money is a common fear among retirees. It seems like the root of the fear is less about a concern for the individual’s personal well-being and more about not wanting to be a burden on their family or others. As Jon discussed in part 2 of this retirement income series, there are potential risks of running short on retirement income by either over or under allocating your… Read More

The Master’s Minute – Retirement Income (Part 3)

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Several years ago, there was a frequently aired TV infomercial for a cooking or baking device. Throughout those 30 mind-numbing minutes they would repeat the saying; “Set it and forget it!”, over, and over again. Perhaps you recall seeing the infomercial I am referring to. Unfortunately, many financial professionals in our industry approach retirement income planning with a similar approach; set it and forget it. At Master’s, we take the… Read More

The Master’s Minute – Retirement Income (Part 2)

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Today the retirement income landscape looks significantly different than it did in past generations. Previously, it was commonplace for large corporations to fund pension plans that would provide a fixed monthly income for their employees throughout retirement. As you are probably aware, today the typical employer provides a retirement savings plan, most commonly a 401k, where usually both the employee and the employer jointly contribute to that savings plan. This… Read More

The Master’s Minute – Retirement Income (Part 1)

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Over the next few weeks, we will be writing about the different elements of a successful retirement income plan. We still use the word “retirement” to describe our years after our main occupation but, of course, the definition of retirement is much different today than in the past. Maybe a better way to think of retirement these days is to think about what it takes to plan for successfully living… Read More

The Business of Money – Compounding and Reinvestment

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You have undoubtedly heard about the power of compounding interest. It is said that Albert Einstein called it ‘the eighth wonder of the world,’ and Warren Buffet, one of the best-known investors of all time, knows this concept well. He has earned 99.7% of his current net worth after he turned age 50 and approximately 86% after turning 65. None of us aspire to become as rich as Buffet, nor… Read More