Mega Backdoor Roth strategies have been in the news (not to mention Congress) a lot lately. In Part One, I review what they are, how they work, and how they differ from other retirement account strategies.
Read More
Jill Nicolini of the Podcast Business Network interviews David about key learnings from his book. The interviews air live Tuesday mornings on the Podcast Business Network from 11-11:30 AM EST through December 14th (click LISTEN LIVE) and can also be heard on replay.
Read More
Jill Nicolini of the Podcast Business Network interviews David about key learnings from his book. The interviews air live Tuesday mornings on the Podcast Business Network from 11-11:30 AM EST through December 14th (click LISTEN LIVE) and can also be heard on replay.
Read More
Jill Nicolini of the Podcast Business Network interviews David about key learnings from his book. The interviews air live Tuesday mornings on the Podcast Business Network from 11-11:30 AM EST through December 14th (click LISTEN LIVE) and can also be heard on replay.
Read More
Jill Nicolini of the Podcast Business Network interviews David about key learnings from his book. The interviews air live Tuesday mornings on the Podcast Business Network from 11-11:30 AM EST through December 14th (click LISTEN LIVE) and can also be heard on replay.
Read More
Retirement doesn’t look like it used to — and for good reason. For prior generations, age 65 constituted a threshold between the working world and the leisure world. Once you crossed it, you took your gold watch, your pension, and your savings, and kicked back in some tropical locale.
Read More
Chances are, if you’ve reached a point in your career where your employer has granted you Incentive Stock Options (ISOs) or Restricted Stock Units (RSUs), you’re doing great. Both ISOs and RSUs are reserved for highly valued members of a company, people that organizations really want to retain for a long time. So, first things first, nice work!
Read More
98% of people are terrible at being investors. It has nothing to do with intelligence or education; it has everything to do with our caveman ancestors who, though they existed 10,000 years ago, are still driving our daily decisions. Cavemen had no opportunity to spend time thinking things through. If they took too long to make decisions, they got eaten by tigers and didn’t reproduce.
All these millennia later, we’re at the apex of human civilization. We think we’re rational, but the reality is, we take shortcuts all the time which can lead us astray.
Read More
We like to think that we make purely rational decisions in investing, or indeed in life in general. But in fact, we are as reactive as our ancient relatives. The instincts that allowed us to survive back then often lead us astray today. As investors, we’re hired to manage portfolios, but we probably spend just as much time managing emotions. In our Cognitive Biases series, we described these common emotional “shortcuts.” Understanding and controlling these biases helps us avoid costly errors in judgment.
Read More
2020 was an absolutely mind-boggling year. As we enter in 2021, we are by no means safe and secure. I would like to tell a personal story about resilience, and what it means for people to thrive in challenging times like these.
Read More
To coin a phrase made famous by Britain's Queen Elizabeth II,
2020 has been our "annus horribilis."
David Edwards sat down with Buff Parham to answer questions from our clients:
Pandemic: how do you see the population getting vaccinated over time and how do you see the economy rebounding as a result?
None of us will forget 2020 anytime soon..truly a tumultuous year. In your opinion, what is the single most important takeaway that we should contemplate going forward?
What do you see happening with inflation, economic growth, and bond yields next year?
And more! View our webinar replay now to learn what we at Heron Wealth thought of the year 2020 in review and what we expect for 20201.
Read More
It is important to understand how we feel about risk and how it impacts our finances and investments.
Risk, if properly managed, can actually work to our advantage.
Read More
We expect stocks to be volatile over the next 12 months as vaccine news develops — optimism over vaccine announcement buoys it, and pessimism about vaccine efficacy drags it. That will be uncomfortable, but in general, we expect stocks to be higher a year from now. By then, we’ll likely have taken tangible steps to recover from the pandemic, the economy will start to recover slowly, and earnings will rise as a result.
We’re starting to scale cash reserves back into stocks, and we’ll continue to do this through December and January. The only caveat is that if a client needs money for a house reconstruction or a big purchase of some kind, we’re keeping that in cash, not putting it in stocks.
But good news for the stock market is not good news for average Americans. There are still 10 million fewer Americans working today than in January of this year. The U.S. response to the pandemic is the still worst in the world. Daily mortality is up 75% over the last month to 2,000/day, and it will continue to soar through Thanksgiving, into Christmas, because the infection rate is triple what it was back in June.
Read More
What’s the number one mistake investors make when markets decline?
Panic selling.
It’s an emotional reaction to the sting of a correction.
And it usually trades one problem for another—it replaces fear with seller’s remorse.
You can avoid all of that if you know the facts about market corrections.
Read More
Creating a reliable income stream is complicated when a recession or bear market throws the rules out the window, isn’t it?
With the effects of the COVID-19 shutdowns wreaking havoc on the economy, wouldn’t it be nice to know that your retirement income plan is up-to-date in the face of uncertainty?
Read More