How to Think About Gains and Losses in Your Portfolio
With stock markets being up and down in recent years, here are a couple of principles to help us keep both gains and losses in context.
With stock markets being up and down in recent years, here are a couple of principles to help us keep both gains and losses in context.
It’s hard for folks to drill-down to the truth of what’s actually important, rigorous, and authentic in the financial industry vs. what’s promotional baloney. Be sure to check under the hood when it comes to Five Star Professional awards.
Another kick to the stomach from today's big news on the Equifax cybersecurity breach. For those who may not know, Equifax announced that cybercriminals got the names, birthdates, Social Security numbers, addresses, and in some cases driver's license numbers, of about 143 million Americans. Yeah, you read that right...they got everything but the kitchen sink for about 44% of the US population.
I love hearing about folks who shift gears and pursue their passion later in life as an Encore Career or as a Second Half Entrepreneur™. Especially when you get the whole story of their dreams and aspirations, then slogging through the inevitable setbacks, and finally emerging on the other side in victory as their idea succeeds. Randall "Randy" Wyn Fullmer is such a guy. He already had a successful career as an animator, including work for Sesame Street and 18 years at Disney. But in his mid 50s, Randy launched Wyn Guitars and as a solo luthier has been handcrafting high-end bass guitars for some of the best bassists around the world. (And now you know the other reason I like this story so much!)
A client asked me yesterday if investment management fees are tax deductible (advisory fees for portfolio management). The short answer is a qualified “yes,” subject to certain limitations. First, some background....