“The hows are fixated on the construction and execution of a plan, but often lose sight of their ultimate financial goals. The whys, on the other hand, can effortlessly visualize where they want to be but struggle to find the discipline to get there. With that said, the first step in revealing both sides of a client is helping them identify their natural tendencies.” – Michael Brady
“That option may appeal particularly to clients with taxable estates, “says Michael Brady of Generosity Wealth Management in Boulder, Colo.” — since 529 plans present a way to move money out of an estate immediately.”
The first quarter was a great reaffirmation that diversification can be your friend. US Large company indexes lagged, but middle and small companies did better. US Bonds did well (in general), as did international stocks.
While diversification does not guarantee a positive return in a generally declining market, my experience is that it does tend to “buffer” some of the returns so you can stay with the plan that works for you.
In my video, I review the past quarter and continue my theme about what I’m watching to come to a “health” conclusion on the markets. Okay, I’m still bullish, but why you may ask? Click on the video for my thoughts and analysis.
There are few things as sweet as your first mention in the Wall Street Journal. March 10th was the day Mike Brady arrived in print!
Since I was written up in the TheSuit Magazine, I’ve had a number of requests for interviews, expert quotes, and general articles about how I interact with clients.
I provide distinction from others in my field in the relationships I build and how I focus on the “why”, vision, and goals. Activating your creative “right brain” is just as important as the logical “left brain”. I’ve been interviewed on this recently for a technical journal, and will share it with you once available.
Anyway, if you want to see your advisor/friend in the Wall Street Journal, I’m just a click away!
I was recently asked by a news journalist my opinion on how to avoid penalties on your required minimum distributions.
Of course, my first answer was to make sure you actually take them and problem solved! I think she was looking for more…..so I did in fact answer more seriously.
Personally, I always watch over all my clients that are at least 70 years old (or have a beneficiary IRA) to calculate the requirement and ensure it’s taken care of. If you don’t adhere to the rules, the tax penalty is 50% of what you should have taken out, in addition to Federal and State taxes you’ll have on the actual withdrawal.
The link below references my response to the journalist on what to do if you make a mistake.