Blog

Advising someone to buy life insurance can be considered unethical… here’s why

May 20, 2020Tomas McFie

George took a long breath and embarrassingly asked, “Should I be losing 51% of my monthly contribution to my 401k plan to fees”?  Obviously, George was ashamed of not knowing the answer, but a bit shy about asking lest he appear foolish. Typical Financial Planning has a way of making you feel foolish, embarrassed to …

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What Are You Worth to Yourself?

May 5, 2020Tomas McFie

It is amazing what people believe they are worth.  Surprisingly, many believe that paying 12 percent or more on a credit card is worth more than keeping 10 percent of their income for themselves to rely upon when they will no longer be able to work as long or as hard as they currently work. …

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Your Price of Time

Apr 29, 2020Tomas McFie

Time is something we all are bestowed with, yet everybody uses their time differently.  How time is used is the price one pays for time. Research out of Stanford shows that the average cost for “one quality-adjusted life year” for a dialysis patient is $129,000 which the dialysis patient pays 2 years of their time …

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Overcoming Tough Financial Times

Apr 14, 2020Tomas McFie

The assumption is made by many, that to become wealthier than those who you’ve been associated with is a bad thing.  Few realize that being a better manager of your time, resources and money is usually the way people become wealthier than their peers. Yet, people that become better-off than their peers are often misunderstood …

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Penalty Free 401k Withdrawals under the CARES Act

Apr 8, 2020Tomas McFie

CARES Act Impact on Retirement Plans and Your Once in a Lifetime Chance If you’re thinking of withdrawing money from a 401k during these times it’s important to understand for what reasons can you withdraw from a 401k without penalty. The CARES Act has temporarily eliminated the 10% early withdrawal and distribution penalty for 401k …

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Investing Costs and Risk Tolerance: How to Protect Your Money

Mar 24, 2020Tomas McFie

Typical Financial Planning: The type of financial planning in use today encourages you to put your money where there is a risk you could lose the money.  The truth is, the only place you can keep your money safe from loss is in certain Bank products and in specific Life Insurance contracts which legally guarantee …

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Can You Trust Your Financial Planner?

Mar 10, 2020Tomas McFie

Did you know that a Doctor’s training provides little insight into the cause of illness?  Dr. Michael E. Platt MD reports that statistically, within 18 seconds of a doctor entering a treatment room to see a patient, they know what drug they’re going to prescribe for whatever you have complained about.”[1] The same can be …

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The Coronavirus and Economic Insecurity

Mar 3, 2020Tomas McFie

According to the latest CDC report, the new infections occurring in China due to the COVID9 virus are down, even as the virus spreads to other parts of the world including the United States.  With 6 deaths being reported in the US at the time of this writing, death rates are nil compared to death …

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3 Things You Need to Know About Your 401(k), Simple IRA, 403(b) and 457 Plan

Feb 26, 2020Tomas McFie

Let’s say you’re going to go into business. Why not partner up with someone willing to match everything you put into this new business by 50%?  That means for every $1 you put in, this willing partner will put in another 50 cents.  Typical Financial Planning advice says you can’t lose. And that this is …

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Your Credit Score is at Risk (but it’s not what you’re thinking)

Feb 19, 2020Tomas McFie

Your credit score is currently determined by five significant facts: 35% of your score is made up of your payment history. 30% of your score is based on the amount you owe compared to your available limits. 15% of your score comes from the length of your credit history. 10% of your score is established …

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