What do you think of when you hear the word firewall? If you are a “computer techie” or work in corporate IT, you’re probably thinking about keeping your computer or network safe. Those of you who work in commercial construction may be picturing a concrete wall that would delay a fire moving between adjoining buildings. Perhaps you’re a car guy like me. I’m picturing that important part of the car… Read More
Blog Series: The Master’s Difference
Over the next four blogs, we will focus on what we call “The Master’s Difference.” We will discuss how our views differ from many others in our industry and what that means for you as a client of Master’s.This post will focus on how our method of developing your financial plan differs from the method used by many in our industry. The financial services industry’s origins trace back to two… Read More
The Power & Privilege of Generosity
Recently, our oldest daughter Christie and I had a good conversation regarding the verses found in I Timothy 6:17-19. This passage from the Bible gives a clear call to generosity, in both attitude and action. As I thought more about that conversation, and those particular verses, I was impressed by both the power and the privilege of generosity. Let’s first look at the privilege component. This may be stating the… Read More
Who is Your Guide?
My family recently traveled to Annapolis, Maryland, for a day trip. On our way to Annapolis, we needed the assistance of the GPS in order to get us to where we wanted to go. It took us on a route that I would not have mapped out myself, but we got to our destination in good time. On our way home the GPS had us going through the middle of… Read More
It’s The Right Thing to Do
In April of this year, the Department of Labor (DOL) issued its much anticipated final rules that impose, among other things, fiduciary duties on advisors who recommend investments for all retirement plans, including Individual Retirement Accounts (IRAs). When the rule first came out, many in the industry wondered why IRAs were coming under greater scrutiny. It makes perfect sense when you think about how the retirement savings landscape has changed…. Read More
I Don’t Know and I Don’t Care
An attitude of “I don’t know and I don’t care” can be quite distasteful. It is generally a statement made in a tone of voice used in an argument or as a snide remark. However, I believe it has a place in our industry. I would not recommend this attitude toward a person, but it might come in handy when it relates to the day-to-day activities of the stock market…. Read More
Maximizing College Gifts to Grandchildren
You probably don’t need me to tell you that the cost of college can be an enormous burden on a college student and his or her family. Some fortunate students are in the envious position of having grandparents who have enough money to cover their own retirement years and still have something left to help family members pay for college. There are tax advantages for grandparents who help their grandchildren… Read More
Changin’ the Rules
Back in the day, play time was no fun when my older sister would change the rules in the middle of the game we were playing in order to tilt the game in her favor. (I hope she’s not reading this!) Well, it seems that Social Security has also changed the rules in the middle of the game. No longer can one spouse employ the file and suspend strategy while… Read More
Chuck With a Purpose
This was the buzz phrase as we cleaned out our storage area in preparation for our recent office reconfiguration. It was clear that we needed to get rid of (or chuck) some unused or outdated items, but we wanted to be purposeful in how we accomplished that goal. How could we prevent our unwanted items from filling up a landfill? Well, we recycled outdated electronics and old marketing materials, we… Read More
Long Term Care Blog Series: Financing
In the final installment of our long-term care blog series, we are discussing your options when it comes to paying for long-term care. According to JP Morgan’s Guide to Retirement, a woman age 65 has a 73% chance of needing some type of long-term care in her lifetime and a man age 65 has a 35% chance. The average age of a person making a new long-term care claim is… Read More
