Most Read IRIS Articles of the Week (February 6-10)

Most Read IRIS Articles of the Week (February 6-10)

Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, February 6-10, 2017 


Click the headline to read the full article.


Enjoy!



1. 10 Ways to Stand out From the Crowd


People always ask me how they can stand out from the crowd. Here are 10 critical steps to take ...  — Roy Osing

2. A Life Hack for Fixed Income Investing


If you’re anything like me, you cherish ‘aha’ moments, especially when that ‘aha’ is the realization that something you’ve been using for just one purpose can do so much more. — Salvatore Bruno

3. Dodd-Frank Regulations: You’ve Been Suckered Trump & Goldman Sachs


The big headline on Friday was Donald Trump has signed an Executive Order to review the Dodd-Frank regulations. He also changed rules relating to brokers, so that they can seek maximised profits rather than being forced to behave in the client’s best interests, as ordered under the Obama Administration. — Chris Skinner

4. Emotions in Business: Why We Need to Show the Side the Makes Us Interesting to Each Other


It seems the more educated we are, the more we try to rely on rational argument and extrinsic motivation to convince people to change their attitudes and actions about such things as diversity, generational differences, client service and client acquisition, succession planning, and flexibility – just to name a few emotionally-charged issues in the workplace.  — Phyllis Weiss Haserot

5. Could the Rally in Global Equities Keep Rolling?


A continuation of the rally in equities globally and growing confidence in the forward-earnings power of more economically sensitive value stocks will likely depend on continued improvement in global economic growth and, consequently, improving prospects for profit margins and earnings. — Cindy L. Sweeting

6. Get Invested, Stay Invested: Preparing for Market Volatility


A market without volatility would be unnatural, like an ocean without waves. The free market, like the open ocean, is constantly churning. For some investors, market-moving waves can be exciting, providing a buying opportunity for mispriced securities. For other investors, the waves might feel violent; but truthfully, for long-term investors, market volatility should be irrelevant. — Samantha Azzarello and Ainsley Woolridge

7. 4 Reasons Determination is Vital to Your Success


Entrepreneurs, business owners, and leaders all understand how life and business can surprise us. You have plans, and they work fine, until you get sucker punched by new competition, market upheavals, or high employee turnover. — LaRae Quy

8. Analyzing How President Trump's Border Tax Would Work


The border tax will ban U.S. companies from deducting the cost of imports that go into products that they sell domestically. At the same time, businesses will be able to deduct revenue from exports while calculating their taxes. Since the U.S. imports more than it exports, the provision would raise revenue. — Dr. Sonu Varghese

9. How to Keep Focused When all Hell is Breaking Loose


We’ve all experienced it; we need to focus on an important, time sensitive task when suddenly we feel as if we had been tossed into a tornado. Fires needing our immediate attention start right and left. So, how can you keep your focus when all hell is breaking loose? — Elizabeth Stincelli​​​​​​​

10. Harvard Just Outsourced: Should You?


Harvard University’s endowment fund just decided to outsource most of its investment functions because it could no longer justify the 'organizational complexity and resources necessary'. If Harvard, along with many other major university endowments, has outsourced at least some of its investment needs despite the wealth of on-staff investment talent, shouldn’t you at least be considering it? — Palladiem

11. How to Enhance Your Ideal Client Experience


Your Challenge: How can you improve the meeting experience with your ideal clients? Unless you understand what they truly value from you, how will you ever know how to improve? — Grant Hicks

Douglas Heikkinen
Perspective
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IRIS Co-Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues ... Click for full bio

Retirement Planning Has Its Limits: How to Prepare

Retirement Planning Has Its Limits: How to Prepare

Retirement planning is one of the issues that commonly leads clients to consult financial advisers. One of its essential aspects is creating a plan to save and invest in order to provide a comfortable retirement income. Ideally, this starts many years ahead of retirement, even as early as your first paycheck.

As retirement comes closer, planning for it expands to take in a host of other considerations, such as deciding when to retire, where to live, and what kind of lifestyle you hope to have. When retirement becomes a reality, the focus shifts to carrying out the plan.

All of this planning is crucial. Yet, for both financial advisers and clients, it's good to keep in mind that planning has its limits. In the post-retirement years, it may be helpful to think in terms of preparing for old age rather than planning for it.

The older we get, the more important this distinction between planning and preparing becomes. Too many life-changing things can happen without regard to our best-laid plans. Often they occur unexpectedly, resulting in emergency situations where urgent decisions have to be made. A stroke or a fall, a diagnosis of terminal illness, a broken hip that leaves someone unable to go back to independent living—and suddenly, right now, the family needs to find an assisted living facility, arrange for live-in help, or sell a home.

What are some of the ways to prepare for these contingencies?

  • Explore housing options well ahead of time. Find out what assisted living, home care, and nursing home services and facilities are available where you live and whether they have waiting lists. Have family conversations about possibilities like relocating or sharing households.
  • Research the financial side of these options. Investigate the cost of hiring help at home, assisted living facilities, and nursing care centers. Find out what is and is not covered by Medicare and long-term care insurance. For example, people are sometimes surprised to learn that Medicare does not pay for nursing home care other than short-term medical stays.
  • Designate someone to take over decision-making, and do the paperwork. Execute documents like a living will, medical power of attorney, and contingent power of attorney. Update them as necessary, and give copies to your doctors, your financial planner, and appropriate family members.  
  • Start relatively early to downsize. Well before you're ready to let go of possessions or move into smaller housing, start considering what to do with your "stuff." Focus on the decisions rather than the distribution. There's no need to get rid of possessions prematurely, but decide what you want to do with them—and put in writing. Do this while it's still your choice, rather than something your family members do while you're in the hospital or nursing home
  • Do your best to practice flexibility and acceptance. No matter how strongly you want to live in your own home until the end of your life, for example, it may not be possible. The physical limitations of aging can limit our choices, and even the best options available may not be what we would like them to be. It is a profound gift to yourself and your family members to accept these realities with as much grace as you can muster.
     

Finally, please don't underestimate the importance of planning financially for retirement. Because the bottom line is that you can't plan for all the things that might happen as you age, but you can prepare to deal with them. One of the most useful tools to cope with those contingencies is having enough money.

Rick Kahler
Advisor
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Rick Kahler, MSFP, ChFC, CFP is a fee-only financial planner, speaker, educator, author, and columnist.  Rick is a pioneer in integrating financial planning and psycholog ... Click for full bio