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  1. Home
  2. Archived Blog
  3. November 2018

November 2018

Your Employer Doesn't Select Your Investments

Submitted by Moneywatch Advisors on November 30th, 2018

A few years ago I accompanied a very accomplished UK physician to testify before a legislative committee in Frankfort. At the meeting, a state senator asked a convoluted – and mostly off-topic – question. After several minutes of awkward back and forth, the physician finally said, “I’m sorry, sir, but I don’t know the answer to your question. I’m just a lowly surgeon.” Lesson: Even very smart people don’t automatically know everything.

Intuitively, we realize we don’t know everything. So, sometimes I think our minds assume there is a system in place to protect us when we don’t have expertise in a specialty. Think about flying: We don’t know if the plane is mechanically safe or the weather is appropriate to take off. But, the airline and air traffic control do have the information and expertise to make those decisions for us. There is a system in place to keep us safe.

Maybe that’s why some people assume our employers select the right mix of investments within our 403(b)s and 401(k)s that are appropriate for our unique circumstances. If we don’t have the knowledge and expertise, there must be a system that takes care of us, right? Right? No, not really.

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If I'd Only Listened to Myself in High School

Submitted by Moneywatch Advisors on November 16th, 2018

When I was a freshman in High School I wanted to invest in the stock market. I, of course, had no idea what that really meant or how to do it, but it seemed interesting to me. My parents, who at the time equated the stock market to something akin to three-card monte in Times Square, told me I could invest when I had saved $1,000 from my paper route. If I had invested my hard-earned $1k into the “stock market” as measured by the S&P 500 then (1979), it would have grown to $77,217 as of the end of this October. And, get this, if I had added just $500 each year to that initial $1,000 investment, the total would now be $400,446. Holy compound earnings, Batman!

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What Events Inspire People to Get a Financial Plan

Submitted by Moneywatch Advisors on November 9th, 2018

Last week I wrote about the excuses people sometimes have for not preparing for their financial futures. This week, let’s talk about the opposite – what inspires people to overcome the excuses and engage a professional to guide them toward their financial goals? No matter the trigger, people are looking to simplify their lives and for peace of mind. So, it is important to find a financial planning professional who has worked with people in circumstances similar to yours. Below are some of the issues our clients have faced that prompted them to seek our help:

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Top 9 Excuses Why People Don't Get a Financial Plan

Submitted by Moneywatch Advisors on November 1st, 2018

Despite the fact David Letterman now looks like Santa Claus and sounds like Oprah, his Top 10 lists live on. Here are my Top 9 reasons – I don’t believe in extra if it’s not needed - why people procrastinate about planning for their financial futures. I’m sometimes asked who our strongest competition is and I always answer, “People’s own inertia.” Meaning, it can take energy to start anything new. But, it can be more nuanced than that. Here’s what I’ve seen:

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November 2018 Newsletter to Clients

Submitted by Moneywatch Advisors on November 1st, 2018
Enjoy this month’s newsletter that features a holiday open house invitation and commentary on this month’s stock market decline.
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