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Jason N. Anderson: “A Study of Achievement, Risk, and Cryptocurrency Using Learned Needs Theory,” Journal of Financial Planning, forthcoming.
Mike Caligiuri, Noah Damsky, Ashlee deSteiger, Jay Zigmont: “Why Gen Zers say they’ll need one-third of what boomers do in retirement,” InvestmentNews, July 6. Caligiuri says, “Most people don’t seem to have a very good understanding of how much higher mortgage rates negatively impact cash flow. Homes that used to be affordable at a 3% 30-year interest rate are now completely unaffordable at a 7% 30-year interest rate. That’s a hard pill for many people to swallow.” Damsky says, “Clients are often too pessimistic as to when their nest egg is sufficient to retire.” DeSteiger says, “Couples think they can retire sooner on less funds living the same lifestyle, if not bigger, quite frequently. Modeling this for them sooner rather than later can be invaluable if the messaging comes from an educational standpoint/one of optionality vs. shaming them, which clearly wouldn’t be productive.” Zigmont says, “If you are planning on dying with zero, then there is a point when you can have saved too much. Most of the retirement calculators and general rules assume you want to pass on money, so people overestimate what they need.”
Daniel M Yerger: “The FPA Community Weighs in on ... Attracting Talent to Their Firm,” Journal of Financial Planning, July. To attract talent, Yerger recommends the following:
Luis Rosa: “Got a Summer Job? Consider Opening a Roth IRA,” NerdWallet, June 30. Rosa says, “If you have the opportunity to start saving now, especially in a Roth IRA, and take advantage of not having to pay taxes on it at a future date, then it’s just a great combination.”
Jason Lampert: “5 estate planning tips for LGBTQ+ clients,” FinancialPlanning, June 29. Lampert says, “A financial planning practice and their LGBTQIA+ clients need to explicitly examine and define estate planning roles such as executors, guardians, beneficiaries, attorneys in fact, and recipients of the transfer of titled property.”
Ann Garcia: “The Little-Known Way Parents Are Beating College Tuition Hikes,” The Wall Street Journal, June 23. Garcia says, “If you have a kid going to a private member college this fall, [The Private College 529 Plan] is a screaming deal. Having a risk-free investment vehicle that is guaranteed to keep up with college-tuition inflation is pretty great.”
Danika Waddell: “#FA Success Episode 337: Becoming An ‘Accidental’ Entrepreneur When Independence Isn’t Chosen But Forced By Circumstance, With Danika Waddell,” Nerd’s Eye View, June 13. Waddell says, “I don’t need to tell you about the power of a niche, but I mean, I get people all of the time in a prospect meeting who say, ‘I went to your website, and I feel seen, you get me.’ And that is so powerful to just have somebody come in and be ready to go. They just feel 100%, ‘This is exactly what I need.’”
Lazetta Rainey Braxton, Rianka Dorsainvil: “Lessons from the Mompreneur Journey,” Wealth Management, June 9. Rainey Braxton says, “As owners of our own RIAs, women in financial services have the opportunity to create thriving workplaces that brings us flexibility on our own terms and provides essential support [to] working moms and caregivers.”
Noah Damsky, Devin Pope, James Reardon, Ron Strobel: “Ask an advisor: What should I do with all these I bonds I bought last year?” FinancialPlanning, June 2. Pope says, “I would recommend you sell the I bonds when the rate ends (that is what I’m doing personally). I also wouldn’t recommend TIPS. TIPS do well when there is the expectation that inflation is going to rise. Ever since the Fed started raising rates, TIPS have gone down in value.” Reardon says, “Several of my clients have I bonds. They provide fixed rate stability and protection against inflation, they are a good alternative to Treasury bond funds and they are only available in limited amounts.” Strobel says, “Do you want an investment that pays the highest yield, and are you willing to do the work to regularly move the funds and chase after those highest yields? If yes, then CDs, money market funds and other higher-yielding investments might offer better rates, although it will require more work.”