There’s smoke in the air, and every breath you take causes you to cough. There’s a dry crackling sound, lights are flashing, an alarm is blaring, and rain is coming out of the ceiling. Panic sets in. Where is the exit? Who else is with me? Was with me? Are they okay? It’s getting hard to breathe, and you find …
Is this time different?
In the book, “Just Keep Buying” by Nick Maggiulli, the first chapter begins with a statement: “Why saving is for the poor and investing is for the rich.” It’s an interesting declaration. I grew up in a family of savers, for the most part. Three of my four grandparents were teachers of some variety or another who retired on Pensions …
MY Wealth Planners to Become Longmont’s 135th Commission-Only Financial Product Firm
LONGMONT – President of MY Wealth Planners, Daniel Yerger, has announced that MY Wealth Planners will become Longmont’s 135th Commission-Only Financial Product Firm. “We’ve realized that fee-only is a bit too pure and conflict-free for our fiscal needs. There are dozens of mega-firms in our area who are raking in enormous profits selling life insurance, annuities, and front-loaded investment products …
Greenwashing – The Problem with ESG
Last week I had the good fortune to be invited to an event at the Burridge Center for Finance at the Leeds School of Business on the subject of sustainable investing. Presenters included Professors Asaf Bernstein & Simona Abis, and Angela Bricmont the Chief of Finance for Denver Water, which provides service to 1 in 4 people in Colorado. They all …
False Courage
Whenever the market takes a tumble, I get a vision of a video I want to send out to clients that I have neither the acting chops nor the production budget to make a reality. I envision a bored-looking man sitting in what looks like a World War 1 trench. There’s dirt being kicked up, distant booming and whatnot. People …
The First Longitudinal Study of Financial Planning
Financial planning has a curious chicken and egg problem. You see, most of the major studies about financial health in the United States are cross-sectional. Studies such as the Survey of Consumer Finances or the National Financial Capability Study are often used to assess everything from financial literacy to the impact of parental education on their children’s financial wellbeing. But …
Capacity Crossroads
The term “Capacity Crossroads” was coined by writer Michael Kitces, a well-known thought leader in the field of financial planning. It was designed to evoke the idea of the “two paths ahead” decision as writers such as Robert Frost have given attention to over the years, and addresses a decision a financial planning firm owner must make: To stop taking …
Welcoming Olivia Lieb
This week we’re delighted to announce our new team member, Olivia Lieb, who joined our team at the start of the month. Olivia joined our team at MY Wealth Planners, bringing on board her passion, creativity, and warmth for guiding and supporting the people and local businesses in our Longmont community. She obtained her Bachelor’s Degree in Hospitality Management in …
Granted – What’s Financial Planning Worth Anyway?
Not a day of the week ending in Y goes by without someone standing up on a soapbox somewhere and decrying the financial planning profession. We’re little more to be trusted than used car salesmen, we can’t generate investment alpha, and the fees will eat your returns! Or so the soapbox man says. One rather famous financial influencer has even …
The Passing of a Good Man
It was announced earlier today that Patrick Mahoney, the CEO of the Financial Planning Association passed away. I had a good relationship with Patrick, who took the helm of the FPA during a time of controversy in the FPA when a recent initiative had given pause to the chapters of the association as to whether the national FPA organization controlled …