Do your investments match your values?
In the past few months, I have seen several friends pass away…
I have seen several people in my circle struggle with illness and disability…
All are under the age of 50. None of them planned on what happened to them.
None of them planned on the impact it would have on those around them.
Life is not a straight line.
We all are forced to deal with situations that are beyond our control.
Most business owners, CEOs and executives are laser focused on driving their business or enterprise towards success. They are responsible for preserving and expanding sales and revenue. They are responsible for hiring and firing. They are responsible to investors and stakeholders to manage risk and ensure success. They handle client relationships, research and development, marketing and IT… As leaders they wear many hats and carry a lot of weight on their shoulders.
But what happens when a CEO or leader within a company passes away? What is the impact on the business and the employees who depend on that business for their livelihood?
Continue reading “Protecting your business, and your legacy”
I met Charlotte and her Husband Randy years ago at a Green Drinks in Philadelphia. It was before the days of Tesla, widespread solar power and organic food sections at the grocery store. People got together to share a beer and dream about a future that would be more sustainable. Things have changed a great deal in the past few years.
Charlotte is a graphic designer based in Philadelphia. She has agreed to share some of her experiences and insights so that we all might have an easier path to financial security.
Charlotte has been interested in supporting socially responsible investing for many years. I asked her what it means to her. Charlotte said, “For one thing it’s smart. We have a finite amount of resources and we are running out of them. To continue doing things in the old ways is to set yourself up for failure. Green investment is where the growth will be.”
Continue reading “Embracing the Future: An Interview with Charlotte Markward”
A recent study by the Center for Retirement Research at Boston College found that “many younger baby boomers and members of subsequent generations who don’t have access to a traditional pension could outlive the funds in their 401(k) accounts.” (1)
In the 1980s 401k plans began to replace pension plans in the workplace. Workers became responsible for accumulating their own retirement savings. Of workers born in 1947, 52% had pensions. By comparison workers born only 10 years later, only 21% had pensions.
The study compared retiree spending for people who had pensions and those who only had a 401k. They found that “retirees with pensions often didn’t spend their savings at all. In fact, many saw their nest eggs continue to grow after they stopped working.”
Continue reading “Strategies to Help Avoid Running Out of Money in Retirement”
In the United States, there is a huge number of households which are unprotected or under protected by Life Insurance. In a recent LIMRA study 7 in 10 households believe would be in serious financial distress if an adult in the household passed away. (1)
37 million households have no life insurance.
Another 33 million households do not have sufficient life insurance to count themselves as protected.
One vehicle that many people rely upon for protection is Group Life Insurance. When offered as a company benefit, it can inexpensively provide protection for many people… but it only does so while the insured works for the company.
Currently, 1 in 5 people are only covered by Group Life Insurance.
The challenge is that recent employment trends show that people are changing jobs more often than in past years. (2)
Continue reading “Job Change, Group Life Insurance and Russian Roulette”
The purpose of life insurance is to manage risk. Individuals and families need protection in the event a primary bread winner passes away.
Several factors drive what life insurance costs for an individual. Women tend to live longer, so their cost for life insurance is lower than it is for men. The healthier a person is, the less expensive it is for them to obtain life insurance. People who smoke pay significantly more for life insurance.
Each person’s health situation is unique. Part of the process of obtaining life insurance is to collect medical samples for testing. The underwriter reviews records from your doctors over the past 5 years. They also examine driving records.
Once all of the information is collected the underwriter evaluates the data at hand and assigns the insured person a health rating. The better the rating, the lower the premium you pay.
So how much of an impact do health issues have on a person’s ability to afford life insurance?
Continue reading “Diet, health, and the financial impact on life insurance”
Several years ago, Bloomberg Businessweek did a bio pic on Hank Paulson, Bush’s Treasury secretary who served during the Financial Crisis of 2008. After reviewing the events that led to the Crisis, connecting the dots, and seeing the impact of what happened, Paulson had this to say at the end of the film…
“The whole reason I’m doing this, is not because I want to look back, but because I have increasingly come to the view that it’s important that there be a historical record for those that come after me, so we don’t replay this movie all over again.” (1)
Fast-forward to November 2019, and we saw many positive and negative conditions developing that raised questions about the stock market and the health of the US economy.
Since the summer of 2019 financial conditions have noticeably weakened as the trade war with China has started having a significant economic impact. American and Chinese officials have spoken publicly that progress is being made. Hopes of a trade deal had driven equity markets higher, but as of December 2019 there is still no deal.
The trade war had caused a real decline in business investment and optimism. A CFO survey in the Fall of 2019 showed, “U.S. business optimism dropped this quarter to its lowest level in three years, according to third-quarter results from the Duke University/CFO Global Business Outlook. A majority of CFOs expect a recession to start before the presidential election.” (2)
This lack of business confidence had slowed growth in the economy and motivated the Fed to cut interest rates several times this year. This was all before COVID crippled the economy in the Spring of 2020…
Continue reading “Mixed Economic Signals, Debt Issues and Fossil Fuel Companies”
I have had several clients experience the passing of a beloved family member in the past 6 months. All ages, all walks of life. To a person they struggle with the desire to have their father or spouse or daughter back with them again, and how to move forward without them.
I have lost both of my parents; my mother passed away at 42 from lung cancer. I know the pain they suffer. Looking back, her illness and death really hurt my father and younger brother financially. She didn’t have life insurance. Due to the illness many of the family’s assets were exhausted. My father and brother did the best that they could do, but it was a difficult journey.
Continue reading “A beloved relative has passed away and left me an inheritance… What should I do?”
Each day we read reports that the economy is booming.
“U.S. housing and consumer are strong” (1)
“Factory output is poised to speed up.”
“Stronger global growth expectations and a weaker dollar should help.”
“The stock market hits record highs…”
With that being the case, you might find it surprising that several large corporations have recently announced they will be laying off large numbers of employees, especially managers. (2)
Companies which are facing an increasingly tough business environment are being forced to “slash costs and stabilize”. (3) Some companies find themselves at a disadvantage because of the move away from fossil fuels. (4) Some companies have failed to innovate in order to remain competitive. Some companies have to carry legacy costs that newer competitors, especially those in the technology or e-commerce space do not have. Many companies are struggling to keep up with commodity and wage costs that are rising with inflation.
Continue reading “How to Deal with Being Laid Off: 5 Strategies To Prepare For Job Change”