Sound Advice

What Financial Advisers cannot do for you   Financial advisers provide valuable guidance, but there are several things they cannot or should not do: Predict the Future Financial advisdrs cannot foresee future market movements or guarantee investment outcomes. Their advice is based on research and experience, not certainty. Guarantee Profits No adviser can promise that you will make money on investments. Market risks are inherent, and returns depend on various uncontrollable factors. Make Decisions for You Advisers can guide you, but the final decisions about your finances rest with you. They cannot force you to save, invest or spend in specific ways. Provide Legal or Tax Advice Unless they are also licensed attorneys or certified public accountants (CPAs), financial advisers cannot offer legal or detailed tax advice. For these matters, you should consult specialized professionals. Act Witho...

How can a financial adviser be most helpful:   Financial advisers can be most helpful in several key areas: Creating a comprehensive financial strategy tailored to your specific needs and goals. This includes assessing your current financial situation, identifying areas for improvement, and developing a plan that covers various aspects of your financial life. Retirement planning. Advisers can help determine when you can retire, optimize Social Security claiming strategies, and create sustainable withdrawal plans to ensure your money lasts throughout retirement. Investment management. This involves designing an appropriate asset allocation, optimizing asset location for tax efficiency, and rebalancing your portfolio to maintain the desired risk level. Tax planning. Advisers can review your tax returns, suggest tax-efficient investment strategies, and help with decisions like Roth conversions...

A.I. Phone Call or Just Plain Stupid (J.P.S.)   A few days ago, I received an incoming call from Yacolt, Washington (population: 1,626).  I ignore most calls of this sort, but was curious to find out what it was about.  Rather than saying “hello”, I answered “May I  help you,” figuring that whatever I said could be recorded and in some way used “inappropriately.”  The caller’s response: “This is Jordan, calling on behalf of Aiden Cosby.” When I asked who Aiden Cosby was, the caller repeated: “This is Jordan, calling on behalf of Aiden Cosby.” That seemed odd. When I said I had never heard of Aiden Cosby, the caller said there was some confusion and repeated what he had already said for the third time. It quickly became obvious that this was a bogus call created by someone who hadn’t thoroughly considered the script possibilities, which is why the A.I. creature at the other end did not have the tools to move the conversation toward whatever their presum...

Interested in Medi-Share?  Your prayers may not be answered.   Medi-Share is a faith-based program that may act as a supplement to traditional Medicare, although it could appear to be.  It is available only to people who can attest to Christian beliefs and lifestyle . . . and provide a church reference. It is not regulated by state or federal government and is not considered insurance. Members pray for each other’s medical challenges and build a spiritual bond.  Even before signing up, agents are standing by to give you information and pray with you, if you choose. The monthly cost is labeled as your share amount.  Members contribute a set amount each month to cover other members’ medical expenses. Similar to Medicare Advantage plans, it has a Preferred Provider network of doctors, which most certainly does not include all of the finest practitioners.  It is often less expensive than traditional insurance, but the trade-off comes in the form of l...