Blog

How to Purchase More Money for Your Retirement

Aug 1, 2018Tomas McFie

Pension plans have for the most part disappeared unless you work for the government.  And defined contribution plans (401ks) have and continue to fail in bridging the income gap which independent retirement accounts (IRAs) and social security were supposed to fill.  That being said, those aware of smart money management principles often encourage their clients …

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Here’s what Rex Tillerson is doing with his money

Jul 25, 2018Tomas McFie

Samuel Johnson the English Poet and Moralist realized that “Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound; great debts are like a cannon, of loud noise but of little danger.” This reminds me of the little boy who discovered the small hole in …

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$42,300,000,000 in Fees

Jul 18, 2018Tomas McFie

Wow! $42.3 Billion, according to Bankrate; that is what 3 banks, JPMorgan, Bank of America and Wells Fargo, collected in fees during one year, $6 billion of those fees coming solely from ATM and overdraft fees alone.[i]  Of course, these are the same banks that we taxpayers bailed out in October of 2008 to the …

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The $1000 Dilemma

Jul 11, 2018Tomas McFie

Less than 2 out of 5 Americans have enough money saved to afford an unexpected $1,000 expense. Such an expense would force 1 out of 5 to charge such an unexpected expense on a credit card, leaving the rest to either scrounge it off a friend, family member or take out a personal loan.  Interestingly …

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The Social Security Myth

Jul 4, 2018Tomas McFie

Ken Fisher, Founder of Fisher Investments, wrote in USA Today on June 24, 2018, “You shouldn’t worry about Social Security running out of money because in the past this same fear has “prompted politicians to act and put in simple fixes.”[i]  Then he goes on to explain that raising taxes, or the minimum retirement age …

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Why You Want to Pay Your Premiums as Long as You Can

Jun 27, 2018Tomas McFie

When purchasing participating whole life insurance, many want to see the premium “disappear” as soon as possible. And if you have a limited source of funding to pay the premiums with, like an inheritance, a bonus, the sale of personal property, a settlement, or lottery winnings, it might make sense to have the premium “disappear” …

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How to Benefit from Less Regulation (Both Now and In Your Retirement)

Jun 20, 2018Tomas McFie

 Five-hundred and 2 days ago, from the time of writing this blog, a new president of the United States has “slashed regulations that strangle the economy by nearly $2 trillion a year.”[i]  Which has increased the wealth of U.S. households $7.1 trillion![ii] This, all in spite of what the Economic Policy Institute or the Brookings …

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ETF’s What Are They And Can You Depend On Them?

Jun 13, 2018Tomas McFie

Those that follow this blog already know our admiration of John (Jack) Bogle.  A personalized copy of his book, “Don’t Count On It” sits right beside my desk and is referenced nearly every week as we reach out to educate others about money management because it contains so many valuable insights. Besides, Jack has been …

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Growth of Student Loan Debt 5 Times Faster than Wages Over Past Decade

Jun 6, 2018Tomas McFie

Attending a university or college used to provide a path to a better income.  But “In 1987-1988 the average four-year universities and colleges were charging $3,190 a year for tuition.  Today, with prices adjusted to reflect 2017 dollars, that average cost has risen to $9,970 a year.  Which is a 212.5 percent increase.”[i] But the …

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No Help from the State!!

May 30, 2018Tomas McFie

California cities are floundering to pay for the rising cost of public pensions.  Interestingly, the governor of the “Golden State” says, “it’s not up to the state to help.”  Even though most local governments face even greater pressures than the state in meeting promised pension plans, the state government isn’t going to lend a helping …

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