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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…
5 Reasons to Stop Caring About How Your Portfolio Stacks Up
Regardless of what stage of life you’re in, it’s natural to wonder how your portfolio stacks up to that of your peers. In fact, I’ve received that very question quite often. With that said, here are 5 reasons to stop comparing your portfolio to your peers…
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…
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…
Should Higher Earners Choose a Roth or Traditional 401(k)?
Using a Roth 401(k) can be a good strategy if you’re looking for tax-preferred treatment on your investments or retirement savings. But, although the benefits may seem attractive, is a Roth better than a Traditional account for high earners…
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…
What Tax and Contribution Limit Changes Will Take Place in 2019?
More changes are coming for 2019 as contribution limits are set to increase once again. In addition, we will see an even higher standard deduction in 2019 than we saw in 2018. This is good news for those looking to defer more of their income to their retirement accounts…
Christmas Cookie Investing
There are many treasured parts of the holiday season, including the lights, gifts, and the joyful atmosphere. But, there is one part of the Christmas holiday that seems to be a favorite for those young and old; Christmas cookies.
Can I Lower My Taxes with a Donor-Advised Fund?
Due to the passing of the Tax Cuts and Jobs Act of 2017, the Tax Policy center estimates that the number of households claiming an itemized deduction for their gifts to non-profits will be reduced from 37 million to about 16 million in 2018. The result…
Behavioral Investing Lessons from Vegas
Our firm recently attended a conference on for 401(k) plan advisors and that conference happened to be in lively Las Vegas, Nevada. The conference demanded much of our time, but of course, if you walk just about anywhere in Vegas, you’ll see…
Q&A with a Mortgage Lender
When discussing things like refinancing, home equity loans, new home and 2nd home purchases, there are some common questions that arise. We sat down with Scott Gruber, Senior Mortgage Lender with First Mid Illinois Bank and Trust (NMLS#466924) to talk about…
Lowering Taxes with QCDs
You may have heard that that IRS requires individuals over the age of 70 ½ to begin taking distributions on their tax-deferred retirement accounts, forcing them to pay taxes on a portion of their IRAs, 401(k)s, etc. during their lifetime. These distributions are referred to as…
How to Fix Social Security
The phrase “Social Security is broken” seems to be common rhetoric in today’s financial spheres. In fact, the American public has become increasingly pessimistic about the likelihood of Social Security still being around in the long run. But, is that opinion well-founded?
How Much Life Insurance Do I Need?
I’ve found that most are rarely excited to allocate any portion of their income toward life insurance. However, most understand that life insurance can provide unique benefits for a variety of scenarios. So while it’s not always fun to add new policies to your financial…
Why Robots Are Bad Financial Advisors
In this age of rapidly advancing technology, more and more investors have opted for “DIY” financial planning and robo-advisor investment management platforms. And, with the increasing capabilities of trading platforms, retirement calculators…
Should I Accept my Pension Buyout Offer?
As employees covered by defined pension plans approach retirement, companies are looking for ways to remove themselves from their obligations by offering pension buyouts. For example, instead of providing the retired employee with…
Did I Prepare Well Enough for Retirement?
After years of conversations with those on the verge of retirement, I’ve noticed a trend that seems to be common among those preparing to step into their golden years. The trend is a need for confirmation that all the hard work, discipline, and saving was enough…
Why Did My Investment Strategy Not Work?
If you’ve been an investor for a while, you’ve probably experienced times where your investment strategy didn’t seem to work like you thought it would. But, what you may not understand is why exactly did it not work? Maybe your strategy didn’t perform as well as the...
4 Things to NOT do After Receiving an Inheritance
Receiving an inheritance is likely unfamiliar territory for most individuals. In some cases, the amount of your inheritance can even be a big surprise. In any case, if you have recently received an inheritance, it’s probably an emotional time…
Sailing with the Tides
Embarking on a financial plan is like sailing around the world. The voyage won’t always go to plan, and there’ll be rough seas. But the odds of reaching your destination increase greatly if you are prepared, flexible, patient, and well-advised. Click here to read the...
Q&A: Should Aging Parents & Adult Children Co-Own Assets?
Taking care of aging parents can be unfamiliar territory for anyone who is put to the task. However, it is something that many in their 50s and 60s are dealing with today. And, part of navigating that unfamiliar territory is trying to find a way to more easily…
Retiring Early? Don’t Overlook These 5 Things.
Retiring early. To most people, that phrase has a beautiful ring to it. In fact, it’s difficult to find individuals who would choose to continue working if the possibility of early retirement presented itself. However, if you’re fortunate enough to be in the position...
Q&A: What is a Trade War and How Could it Affect the Stock Market?
If you’ve tuned in to the financial media recently, which we usually do not recommend, you’ve surely seen talks and fears around a “trade war” between the United States and China. We’ve already begun to see tariffs being imposed by both sides and market…
Q&A: It’s Tax Season. What Do I Need to Know?
Tax season can be a busy and confusing time of year. With the Tax Cuts and Jobs Act of 2017 being signed into law in late 2017, this year’s tax season is perhaps even more confusing than usual. To help, we have listed 9 things that you’ll want to know about this tax...
True or False Diversification?
The old adage, “Don’t put all of your eggs in one basket” has undoubtedly been a simple yet profound guide for investors for decades. The translation is simple; diversify your portfolio so that if unforeseen circumstances negatively affect one of your stocks, it won’t completely derail your entire…
Q&A: How will the Tax Cuts and Jobs Act of 2017 impact me?
December 22nd, 2017 marked the date of our nation's biggest tax overhaul since 1986 as President Trump signed into law the much anticipated Tax Cuts and Jobs Act of 2017. But, many Americans are questioning what the new tax bill will do for them, and it's likely the...
Q&A: What end-of-year planning should I be doing?
Time is running out this calendar year to take action on important items that need to be addressed before the end of the year. But, there is still time to make some last-minute adjustments before we get to 2018. Here are just a few year-end tips that could help you as...
Who is Overseeing Your Team of Professionals?
Managing your financial plan can be overwhelming. After all, it’s ultimately up to you to make sure that your investments, retirement plan, estate plan, insurance policies, and taxes are all on track and working efficiently…
Don’t Make Your Beneficiaries Search for Your Assets
You’ve likely heard or read about the importance of having an emergency savings account in case unexpected needs were to arise. Typically, that emergency fund is housed at a local bank or credit union. But whatever…
Why Investors Should Consider Dividend-Paying Stocks
Based on current economic forecasts, we could be entering a period when market returns lag behind historical returns, meaning investors might want to do due diligence on all investment strategies to find the best way to meet their objectives. If income is a goal…
How to Maximize Employee Benefits From the Start
Starting a new job can be an exciting time. There’s no doubt that most are anxious to begin their new role and start learning and performing at their new company. This is even truer after extended absences from the…
Long-term Care: Traditional vs. Alternative Policies
As thousands of baby boomers retire every day, there is a growing concern about the future need for long-term care, whether that be in a nursing facility, assisted living facility, or even variations of in-home care. Many…
Individual Bonds vs. Bond Funds for Retirement Income
In our current interest-rate environment and with the state of the global economy, retirees looking for income-driven investment vehicles can be hard-pressed to find investments that offer decent yields or dividends…
Annuities Can Work for Retirees, but Proceed With Caution
From high fees associated with increasingly complex products to questionable sales practices, annuities have gotten a bad rap over the years for many reasons. But, they’re not all bad. Because certain annuities can offer…
Younger Workers, It’s Time to Save for Retirement
Millennials and Gen Xers may not spend too much time thinking about retirement planning, but recent changes to Social Security highlight just how important it is for them to start now. Certain strategies that have…
Advisor? Planner? Broker? What Financial Titles Really Mean
Working in the financial industry, I’ve noticed that professional titles that should have distinct meanings get tossed around, intermingled and used interchangeably. As a result, they’re often misunderstood. Those of us in the industry might know the…
Preparing Your Finances, and Your Family, for the Worst
One of the best things about being a financial planner is getting to interact with so many different people each day. We care a lot about our clients, and we do our best to build strong relationships with them. We learn as…
Your stocks did well. So how come your portfolio didn’t?
Why do some investors find themselves not only underperforming benchmarks, but also underperforming their own investments — in other words, seeing poor returns from holdings that actually did quite well over time? The likely answer is poor…
Stock market naysayers paint an incomplete picture
Some in the financial media say a stock market correction is inevitable. That prediction is intriguing, but it has a few subtle, yet gaping holes. Are we standing at the precipice after a strong uphill climb in the world of investing, or does it just seem that way to...
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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.