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Some of the best money wisdom I've learned over the last nearly 40 years came from my clients who were parents and grandparents: If you can't earn it and you can't accumulate it, then you won’t be able to keep it if you are lucky enough to inherit it. By observation, I've learned this to...

I’m not much of a golfer, but, ironically, I enjoy watching the sport on Sunday afternoons. Maybe it’s my understanding of how difficult the game is that causes me to enjoy a relaxing afternoon watching the professionals. Golf can actually be easy for some people, some of the time. They hit the ball so crisply,...

An investor met with me to consider his upcoming retirement from the workforce. He was youthful (in his mid-50s) and had accumulated $1 million in his various accounts. When I asked him the “why retire now” question, he said, “Why not, I’m a millionaire!” Eligible for Social Security, but not for a decade, he needed...

From my previous posts, you know most people have little to do with regard to their wealth-transfer planning. They need to see a lawyer to get a will and some other health-care documents. Still, it’s unfortunate that many people don’t do end-of-life planning, probably to avoid considering an uncomfortable topic (their future and hopefully far-off...

Residual wealth is money above the amount that you will need to live the rest of your life comfortably. It’s an individual number that should be determined with the assistance of an experienced financial professional. If you are in this bracket, consider the following: You now have two buckets of money. The first is the...