Financial Elements' Insights

The term “novel coronavirus” is so new, some people have apparently wondered whether it is related to Corona beer. (It is not; it’s named after its crown-shaped particles.) And yet, how quickly it has grabbed global headlines. As the viral news has spread, so too has financial uncertainty. What’s going to happen next? Will it further infect our domestic or global economies? In case it does, should you try to shift your investments to remain one step ahead?

You may have missed the news – buried in a much bigger spending bill, and passed in the thick of the holiday season. But after months of nearly bringing it to the finish line, it’s now official: On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act provides a mixed bag of incentives and obligations for retirement savers and service providers alike. Its intent is to make it easier for families to save more for retirement. That said, “easier” doesn’t necessarily mean less complicated. To jump-start the conversation, here is an overview of the most significant changes we’ve got our eye on, as the SECURE Act starts rolling out in 2020.

Social Security fraud updates and COLA for 2020.

As the new year quickly approaches, make sure you’re prepared with your year-end giving strategy checklist.

Why are people more afraid of flying than driving, even though car wrecks are far more frequent? As one academic suggests, “in a car, at least I know when to brake. In a plane, I have no control.”

You may have spent decades accumulating a high net worth, but when it comes to handling a large inheritance, you may not have all of the answers.

We’ve rounded up the four most common mistakes soon-to-be retirees make regarding their money, so you can prepare now to make your transition into retirement a bit smoother.

It’s certainly understandable if the economic uncertainty unfolding in the daily news has left you wondering – or worrying – about what’s coming next. No matter how you feel about the U.S. entering into a trade war with China, it’s hard to deny that the prospect is currently causing considerable market turmoil.

Information overload leads to confusion, bad choices, or no choices. Now more than ever, it's important to have trusted advisors that know you personally and can walk your journey with you.

Recap of Financial Elements' event with Harper College. So nice to see so many of you.

What does the rate change mean to your financial well-being? Is there anything you should “do” to your investment portfolio in response? We typically recommend you remain informed – but you act only on factors you can expect to manage within your personal investing. This is nearly always the case for economic events and other breaking news over which we have no control.

If you find yourself with a bit of extra time on your hands in the upcoming months, you may want to use this time to check in with your family’s finances.

A recap of my annual professional conference in Austin, Texas.

Are your investments liquid or illiquid? When a holding is liquid, it simply means you can sell it anytime the market in which it trades is open for business, without losing your proverbial shirt in the exchange. If it’s illiquid, you cannot sell it, at least not for anything near what it’s worth.

Asset allocation. It’s so ingrained in how we manage our clients’ investment portfolios, we talk about it all the time. But what is it? What are assets, and what happens when you allocate them?

Before combining two families to create a modern-day Brady Bunch, it’s important to think through all of the financial implications related to children and assets. Start your new family life on the right foot by tackling these difficult conversations early on.

Here are some financial best practices for the year ahead. Pick a few of them or take on the entire list. Either way, you’ll be that much further ahead by the time 2020 rolls around.

It can be extremely hard for parents, particularly older generations, to ask for help. Many won’t say anything, suffering in silence and believing that asking for help is a sign of weakness.

Remembering John Bogle, the founder of Vanguard and creator of the first index fund.

Reflect upon your present blessings, of which every man has plenty; not on your past misfortunes, of which all men have some. Charles Dickens