KEDM radio series

A lot of news stories we hear are stories about individuals making their way in our hobbled economy. But for some, these are indeed the best of times.  If you happen to be one so fortunate to deal with newfound affluence, here are a few things to keep in mind.

When should a young person begin the financial planning process? At the same time she receives her first paycheck. No matter who you are, you are not too young for financial planning.

Here’s a situation I see all too often: a retired couple with children still dependent on them for financial support. Unless there is mental or physical illness involved, my reaction is, “What?!”

Face it, you couldn’t control the behavior of your children when they were little – what makes you think you can control them after you are gone? But you can do the best you can to influence what happens upon your departure.

I once worked with a 40-something engineer who asked me to help him to do a cost-benefit analysis of whether or not he should buy disability income insurance. 

Any number of things could cause you or your spouse to become incapable of handling your own medical or financial affairs.

Overcorrection can be worse than the problem you were seeking to correct! Too often, investors who have been surprised by ugly markets don’t so much invest as react. Andy usually their reactions are very costly.

People that reach a mature state of financial peace are individuals that deal in reality, accept uncertainty, and behave accordingly. 

This three-part podcast series examines the most commonly identified financial risks faced by retirees. Part 1 addresses the core risk, which is that you will outlast your money, Part 2 looks at some of the financial reasons you might run out of money, and in Part 3 we consider health and lifestyle risks.