Rick's Weekly

To Be Or Not To Be A Fiduciary?

Whether or not the DOL heeds the president’s advice and either kills the rule, or reforms it beyond recognition, at least you will have a clear understanding of the difference between the two industry standards. [...]

All IRAs Are Not Created Equal

In my opinion, the financial world is not a place to paint in broad strokes, but many do. And unfortunately, investors often do not have the information necessary to understand the differences between similar financial vehicles and strategies. Case in point: in a recent TIAA survey, 56 percent of respondents reported that there is no difference between one type of IRA account and another. [...]

Household CEOs—Pay Yourself Regularly!

It's hard to make the future a priority. There are so many things facing us right now that we want to spend our money on. But just for today, let me act as your CFO, and advise you that when you are 10 years into retirement, you would much rather have the savings necessary to maintain your lifestyle than the new pickup truck you want right now. [...]

Serving As Personal Representative? Make Sure You Know The Role

Being a personal representative is an honor, yes, but as discussed, with that honor comes great responsibility, often at a time when one would rather be grieving, or spending time with family, rather than dealing with banks and lawyers and everything else that comes with estate management. If you are asked to be someone’s personal representative, make sure you are prepared, and your loved ones are prepared for the role you will need to step into during an already difficult time. [...]

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