By Steven Smith | Peak Thoughts
To paraphrase Mark Twain: Everybody talks about inflation, but nobody does anything about it. Inflation, simply defined, is the erosion of the purchasing power of money over time. It is a natural phenomenon in a growing economy. A ticket to the bleachers at Fenway Park cost my parents $1.00 when I was a kid. A […]
Continue readingBy Steven Smith | Financial Lifestyle , Peak Thoughts , Retirement , Wealth Management
Running joke: If it’s a one-page financial plan, then why isn’t the book only one page? I first read Carl Richards’ novelty of a book, The One-Page Financial Plan, when it was published in 2015. But I only recently grabbed it off the shelf to re-read and figure out ways to apply it in our […]
Continue readingBy Steven Smith | Peak Thoughts
Managing life-stage transitions is an essential component of good financial planning. Late life planning – for a time when you need help with everyday tasks on account of either physical or cognitive decline – can be a special challenge. One increasingly popular choice is the Continuing Care Retirement Community (CCRC), which provides both housing and […]
Continue readingBy Steven Smith | Financial Lifestyle , Financial Planning , Life Transitions , Peak Thoughts , Retirement
I made the mistake of asking a client when she wanted to retire. This is a common inquiry to my clients. Yet unwittingly, I opened a fraught subject for this couple. She loved her job and wanted to work forever. He was ready to retire now and see the world. I learned a valuable lesson. […]
Continue readingBy Steven Smith | ESG Investing , Financial Lifestyle , Investment Management , Mountain Lifestyle , Peak Thoughts , Wealth Management
The current US Department of Labor (DOL) has a bone to pick with sustainable investing; what is now colloquially called Environmental, Social & Governance or ESG investing. On June 23, 2020 the DOL issued a proposed rule that would limit the use of investments that consider ESG factors in retirement plans subject to ERISA, such […]
Continue readingBy Steven Smith | Financial News , Investment Management , Peak Thoughts , Political News , Uncategorized , Wealth Management
What’s better for investors, Republican Presidents or Democrat Presidents? It’s a trick question. First, because in general, over the long run, it doesn’t matter. While some data correlates Democratic administrations with stronger markets since the end of World War II, there is no evidence of a cause and effect relationship. And this nifty interactive exhibit […]
Continue readingBy Steven Smith | Money , Peak Thoughts
“Trillions of dollars of debt! This is what Republicans stand for?” Kentucky Senator Rand Paul, reacting to his own party’s proposed stimulus legislation in July. “Now is not the time to worry about shrinking the deficit.” Treasury Secretary Steven Mnuchin, on September 15 2020. “If you elect me, your taxes are going to be raised.” […]
Continue readingBy Steven Smith | Financial Lifestyle , Peak Thoughts , Retirement , Uncategorized
The FIRE movement captured my interest only recently. Financial Independence, Retire Early (FIRE) is an aspiration of motivated young people today to stop working and retire in their 30’s and 40’s. As a retirement advisor, seeing the obvious challenges of saving enough money and otherwise getting one’s act together at such an age, I rather […]
Continue readingBy Steven Smith | Financial Lifestyle , Life Transitions , Mountain Lifestyle , Peak Thoughts , Retirement , Wealth Management
Do the mountains call you for your dream retirement? Many people, including most of my clients, aspire to retire to the active lifestyle, fresh air and natural beauty of the Colorado mountains. What will it take to achieve that dream? Here are some considerations for planning your mountain retirement: Follow Your Dream […]
Continue readingBy Steven Smith | Peak Thoughts , Uncategorized
A recent column entitled, Survivor Bias: Why Successful Value Investors Live Longer, mused on the apparent longevity of legendary value investors Charlie Munger and Warren Buffett. Today’s long suffering value investors, looking for a silver lining in the decade plus underperformance of value stocks, may find one in Munger’s quip that “professors, judges and value […]
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