News & Views
Seven Things Your Broker Will Never Tell You
Have you entrusted your nest egg to a stock broker? There are many things your broker would rather you just didn’t know. We can come up with seven. Maybe there’s more but we can’t spend all day on this… 1) The expenses of the mutual funds I’m recommending to you are really, really high. What [...]
Crisis And Collapse?
As we hear all around us the cries of crisis and collapse, it’s a good idea to read the words of America’s greatest investor. Many of you are familiar with Warren Buffet, and his annual letter to shareholders. Here’s an excerpt from his letter of February 26, 2011: Money will always flow toward opportunity, and [...]
“The Mutual Fund Industry Is A Huge Scam”
All of you who are clients of The Financial Coaching Center, LLC, know how we feel about the mutual fund industry, and why we believe in our philosophy of trying to achieve market rates of return with reduced volatility through broad diversification and efficient, low-cost, passive investments. Here’s an article written by Yale’s legendary investment [...]
Don’t Get Burned By These “Hot” Investments
FINRA Issues Warning About Chasing Yields All of you know how adamant we are at The Financial Coaching Center about helping you understand the relationship between risk and reward. Most of you who have been to our classes know how markets actually work, and realize there is no free lunch. Yet you also know people [...]
A Home is a Lousy Investment
Here’s a link to an excellent article in the Wall Street Journal by Robert Bridges illustrating why today’s young people would be foolish to imitate their parents and view home ownership as the cornerstone of personal finance. http://online.wsj.com/article/SB10001424052702304259304576375323652341888.html?mod=WSJ_Opinion_LEADTop
Retirement and Health Care Costs
So, how much do you think you’ll need to spend on health care in retirement? If you’re like most, you have no idea. A survey by Sun Life Financial, released Wednesday, found that 92% of workers said they don’t know how much their health care will cost in retirement. 40% said they have “no idea” [...]
Asheville Businessman Charged in Ponzi Scheme
So it’s happened again, this time right here in our backyard. An Asheville business man faces charges for running a Ponzi scheme that cheated investors out of $13 million. Who got burned? All kinds of people, including those who were “college educated, in banking, and financially smart.” Of course, if they had received my earlier email [...]
Dying Banker Tells the Truth About Investing
Wow. Here’s the extraordinary story of Gordon Murray; former Wall Street insider who decided as he faced death to finally level with investors about the right way to invest. It is, of course, exactly the way we construct our clients’ portfolios at The Financial Coaching Center, so you already know this, but it’s unique to see and hear [...]
Talk About a Wrong Number…
One of the tools of the trade for brokers is the cold call, pitching investments to anyone who will pick up the phone, often using high-pressure sales techniques and promising unrealistic returns. But cold-calling brokers from Financial Network Investment Corp., and Meyers Associates LP, recently got into hot water when they unknowingly dialed regulators of the [...]
Granny & Clyde; Seniors Scamming Seniors
Many financial planners who got into the business during the bull market of the early 1980s are senior citizens themselves now. With their own wealth ravaged by the bear market of the past decade, many of these people can no longer afford to retire. That, say regulators, may be prompting some older financial advisers to [...]
