THE WEALTH NAVIGATOR BLOG

CarsonAllaria’s Financial Blog on Retirement and Wealth Management

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EQ Beats IQ When Investing

The ups and downs of investing can cause some investors to experience “market fatigue.” It’s not always our balances that get beat down, but our emotions, which is why a high level of EQ (or emotional intelligence) can be more beneficial than a high IQ when investing in the stock market.

Social Security: 7 Crucial Mistakes & How to Avoid Them

Bad Social Security advice and poor claiming strategies continue to cost retirees, especially those eligible for spousal, survivor, and divorced retirement benefits.  Social Security has provided benefits to Americans for over 80 years and is a pillar of...

Identity Theft: 15 Ways to Protect Against Cyber Attacks

Cybersecurity may not often be included as part of wealth management, but poor practices could lead to significant financial loss. However, many cases of identity theft can be prevented with prudent practices and security measures.Identity theft is an issue that...

Should I Invest Near a Market High?

When the stock market is near an all-time high, some investors decide to exit the stock market, fearing of a possible decline. Although this is a common and logical concern, historical data shows that may not be the most prudent approach to navigating markets that are...

Is the 60/40 Portfolio Dead?

Portfolios with 60% stocks and 40% bonds have been a staple of investing for the last few decades, but many think these portfolios could face major challenges in the next several years. With interest rates near historic lows, successful bond investing could look much...

5 Financial Impacts of the Democrat Blue Wave

Democrats swept the 2020 elections, which means investors are evaluating how that could impact their portfolios, taxes, and overall economic recovery. Forecasts are mixed, but investors are encouraged to keep a long-term focus.The elections dominated headlines for...

College Savings: Is a 529 Plan Right for Your Child?

A 529 College Savings Plan could be a great way to contribute to your child’s financial future, but is it the best? Tax-advantaged accounts, like 529s, also come with restrictions and less flexibility to offset their tax benefits. But, a 529 College Savings Plan isn’t...

What Will I Do When I Retire?

Being able to answer the question "What will I do when I retire" and having a plan for your retirement lifestyle can help you stay engaged and can lead to a healthier and more enjoyable retirement, studies say.Your retirement years are supposed to be your golden...

Investment Help with 3 Simple Questions

The stock market can seem simple for some and leave others searching for investment help. However, a “good” investing outcome can be achieved in many ways. But, it's your mindset, expectations about investing, and the way you approach investing that has much to do...

3 Myths About the Stock Market in an Election Year

Every four years, we are essentially told the fate of the world hangs in the balance of which presidential candidate wins the election. This narrative is used by both major political parties in the U.S. However, historical data tells a different narrative, and it’s...

If Everyone is Selling, Who is Buying?

The Great Wealth Transfer has been historically known as the shift of assets from Baby Boomers to their heirs, which some estimate to be in the ballpark of $68 trillion over the next two decades.1 But, I’d like to share about a different transfer of wealth, one that...

5 Ways to Get More Money in a Roth IRA

When the world feels like it’s on the brink of implosion, it seems trivial to write or think about taxes. But, with the thought that taxes might go up in the future, especially in Illinois, many are wondering how to get more money in a Roth IRA today (to pay taxes now...

The 3 Biggest Surprises of Retirement

Retirement presents many unknowns for those planning to enter their “golden years.” As it goes, more uncertainty tends to result in more anxiety. However, some components of retirement aren’t quite what they seem. Here are three of some of the biggest surprises of...

4 Ways to Keep Getting Paychecks in Retirement

Getting a regular paycheck is one of the most comforting things about your working years. Therefore, not getting paychecks in retirement can be a major cause of stress. With all the different investment strategies out there for investing and producing income, the...

How to Navigate the 3 Phases of Your Financial Life

Your financial goals and priorities certainly change throughout your life. These changes result from many factors and are common. In fact, you will experience three distinct phases in your financial life (accumulation, preservation, and distribution). To avoid major...

Why You Need a Specialist Near Retirement

Most people are surprised when I tell them that, even as I financial advisor, I do very little to help people get to retirement. In fact, our clients have done much of the hard work themselves by living within their means, investing in their 401(k), and avoiding...

How to Free Yourself from Financial Anxiety

As the world attempts to bounce back from the COVID-19 pandemic, there is still much uncertainty and financial anxiety in the air. In fact, according to a survey done by the National Foundation for Credit Counseling, 69% of Americans age 18 and up reported…

Is Cash Really King?

You’ve probably heard before that “cash is king.” I have certainly heard it more during the last few months as we’ve endured the COVID-19 crisis. Volatility, uncertainty, and fear has been high. The value of cash, safety, and liquidity has increased. But, the question...

7 Ways to Get COVID-19 Financial Help

The COVID-19 pandemic has caused many to look for financial help. With massive shutdowns of non-essential businesses and industries, Americans are in unchartered territory. For those struggling to make ends meet, here are 7 things to consider that could help…

How to Invest During Market Volatility?

With the recent fluctations in stocks, investors have been left wondering how to invest during market volatility. Market volatility causes stress, anxiety, and worst of all, doubt. Doubt is what causes investors to question their previous plan or strategy, if one was...

5 Key Ingredients to a Good Financial Recipe

In my experience, a good dish usually begins with good ingredients and a good recipe. The right amount of those ingredients, mixed together in the proper order, and cooked for a designated amount of time, can turn into something special. The same…

5 Things the SECURE Act Has Changed for Individuals

In December of 2019, the SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law, triggering several changes for individual investors and employers that offer or have considered offering retirement plans. The SECURE Act…

Income Plans: Different Than Financial Plans?

Retirement nest eggs do not grow themselves. Getting to retirement typically takes years of hard work, a few good investment choices, and an incredible amount of discipline. But, while the formula for success in the years leading up to retirement, or the accumulation...

Medicare, Medigap, and Medicare Advantage

For many, the month of November is the time of year that signifies the end of the year is close and the holidays are coming. For anyone over the age of 65, however, November also signifies another very important season; Medicare Advantage Open Enrollment Season…

5 Investing Lessons Football Taught Me

As a former athlete, I’ve had the benefit of being around many great coaches over the years, and with great coaches come great one-liners. Although simple, and sometimes cryptic, these teachable sayings carry much weight. Within them are lessons that are…

How the Financial Media Hurts Investors

Isn’t it interesting how human beings are drawn to drama? For some reason, we watch the news more when there is a crisis, tragedy, or natural disaster taking place. This is precisely why the financial media is always incentivized to create a crisis…

Are Annuities Bad for Consumers?

Q: Are annuities bad for consumers? A: Like many things in the world of investing, it’s almost impossible to make a broad generalization about a specific investment and then claim that the generalization will apply to everyone. That’s the downside of any broad generalization…

What Financial Advice Should I Give My Child?

Q: My children are getting older and one just graduated from high school. What is the best advice I can give them about money? A: First off, congratulations to your child on graduating! This is a great question and a perfect time to explore some key…

Should I De-Risk Near Retirement?

Market volatility is not something investors are typically excited about experiencing, regardless of age. However, volatility can become even more stressful as your get closer to retirement. Because of this, it is generally assumed that you should invest in a more conservative manner…

The Worst Mother’s Day Gift

Our mothers have such an important role in all our lives. They tirelessly care for us from infancy to adulthood, usually sacrificing the things they want to do or have for us. As we celebrate Mother’s Day this year, consider the following situations as things you don’t want to give your wife this Mother’s…

What is Values-Based Investing?

What values do you have that you would never want to violate in order to make a profit? You may have heard investment terms like sustainable investing, ESG, and socially responsible investing (SRI). But, what do they all mean? All are examples of values-based investing, where the investor…

How Many Jellybeans Does it Take to Price a Stock?

Imagine a jar is filled with a large number of jellybeans and you have to guess the quantity that is inside the jar. It would be a daunting task for anyone. But, this exercise can offer valuable insight into how market prices are set, and if they are fair and accurate…

Stop Giving to Charity…in Cash

Before you get the wrong impression of the headline, I think giving to charity is great. In fact, I think people should do more of it. This article, however, wasn’t written to change your attitude about charitable giving, but about the method in which you administer your gifts…

How Can I Get On Track for Retirement?

In my experience, I’ve found that many people want to get on track toward retirement, but don’t take action because they feel overwhelmed. Here are a few simple changes that could end up having a significant impact on your long-term retirement plan…

A Social Security Loophole that Still Exists

The Bipartisan Budget Act of 2015 made some significant changes to a few key Social Security filing strategies. Specifically, the legislation removed some well-known loopholes that were used by many to increase spousal benefits. These loopholes involved…

Here’s the Prescription

Improving someone’s financial health is a lot like improving their physical health. The challenges include diagnosis of the current situation, development of the appropriate course of action, and sticking with the treatment plan. Click here to read…

What Positive Financial Moves Can I Make in 2019?

A new year brings a fresh start and a sense of new opportunities. It’s a great time to set goals and make improvements in all areas of life. Financial goals are, of course, wonderful goals to focus on in any year. But, it can be difficult to know where…

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About the Blog

The Wealth Navigator is a financial blog that was created in 2015 to provide pertinent, yet digestible wealth management tips for the average, everyday person. You don’t need to have a PhD in finance or a Series 7 license to understand the posts in our blog. Yet, the strategies covered can provide immense value to readers when implemented.

The blog primarily focuses on the following wealth management topics:

  • Retirement Planning (withdrawal strategies, investing near retirement, Social Security analysis, and Medicare planning)
  • Investment Management (behavioral finance, diversification, markets)
  • Tax Planning (tax-reduction strategies, tax-loss harvesting, charitable giving strategies, etc.)
  • Risk Management (life insurance, long-term care concerns, long-term disability)
  • Estate Planning (generational planning, estate tax reduction strategies, wills/trusts/powers of attorney)

Joe Allaria, a Partner and Wealth Advisor with CarsonAllaria Wealth Management, and a primary writer for the blog, has been featured in several financial publications, including; The Wall Street Journal, USAToday.com, Nasdaq, CNBC.com, Yahoo Finance, and Investopedia.