Coronavirus, stock markets, wealth management, wise money

With the Coronavirus quickly spreading and the stock markets drastically dropping, it can be hard to understand exactly what is going on. In this episode of Wise Money, Michael Andersen discusses the Coronavirus and explains why it’s affecting the markets and what you can do to protect your assets during this volatile time.

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retirement

Retiring rich is something we all dream of, but it requires dedication and planning to make this dream a reality. For many Generation X-ers, it’s a dream that could be beyond reach without intervention. A new study from the Transamerica Center for Retirement Studies showed that only 14 percent feel they will have saved up enough to live comfortably in retirement. This stunning statistic illustrates the importance of using your forties to examine your financial preparation for your retirement years.

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multi generational family

Did you know that over 60 million Americans are living in a home with either grandparent, grandchildren, or with two or more adult generations? That’s nearly 20% of America.

Whether it was planned or not, you may at one time be living in a multi-generational household. Kids may need to move back in after college. In fact, over 36% of 18-31year olds are living at home. Forty-seven percent of adults aged 40-50 have a parent 65 or older and are still raising or have adult children with financial needs.  Whether it’s the cost of living increases, childcare needs, health issues, or a job loss, the trend of moving into a multi-generational family home has been on the rise since 1980, hitting a high point during the 2007-9 recession. Whatever the case, living in a multi-family household can be an enriching and positive experience. This article will go over some ways to streamline the process so that it is beneficial to everyone.

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Did you know only 52% of Americans invest in the stock market? The reasons for this are varied, from fear after the market crash of 2007-2008, the current market unpredictability, to a lack of understanding/fear. Since 1995 though, the S&P 500 has risen 7.8% a year on average. At that rate, someone starting with $1,000 and putting just $100 a month into a fund indexed to the S&P would after 35 years have $227,078 — enough to generate an added $17,000 a year of income in retirement.

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One of our responsibilities as an investment advisor is to help people put market news in its proper perspective, especially when the media is reporting global market corrections in the wake of political events.

If you’re reading the popular press, you’re seeing a lot of storm and fury having to do with government shutdowns, market corrections and the possibility that the Fed may raise interest rates. As the popular media scrambles to explain the unexplainable – what is going on in the markets at the moment and how long it’s going to last – we thought we’d share a headline of our own:

“The stock market is a giant distraction to the business of investing.”

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If you are a high-income professional, saving for retirement can be more of a challenge than some may think.

In 2016 the income limit applied to defined contribution plans was $265,000, so if you earn more than that and you want to maintain the lifestyle in retirement that you have enjoyed pre-retirement, then it will be important to take advantage of the following strategies to ensure you are saving enough to meet your goals.

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Popular culture often takes an “us vs. them” attitude toward technology. Think about the menacing messages of 2001: A Space Odyssey, Blade Runner or Terminator. Machines are bad and want to take over; people are good and must control them. In real life, though, technology isn’t nearly so scary — unless, of course, you’re worried a robot will take away your job. I’m not. Though some may see the growing popularity of so-called “robo-advisers” as a threat to financial professionals, I’m embracing this method of investing as a way to further diversify a client’s portfolio and look out for his or her best interests.

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One of our responsibilities as an investment advisor is to help you put market news in its proper perspective, especially when the media is reporting the potential for global market corrections in the wake of political events, like the replacement of Fed Chair Janet Yellen. If you’re reading the popular press, you’re seeing a lot…

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