Blog Posts

5 Ways to Protect Your Federal Tax Refund

Posted by byronellis on April 17, 2018

Just about everything we do can now be done online. As online banking and financial management become more and more common it’s important for individuals to protect themselves properly. Identity thieves are continually learning new phishing schemes to get your information, including your tax refund. Before you’ve even had the chance to think about filing your taxes, a thief may have already filed using your Social Security number and had the refund direct deposited into their own account. By the time you figure this out,…
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How to Keep Your Sanity During the Next Market Drop

Posted by byronellis on April 10, 2018

How is your portfolio doing? If you are like most, you have seen some nice gains since the last bottom which was back in March 2009. You might be thinking that this can’t go on forever…and you are right. We are now in the second-longest bull market expansion that we have ever seen. This means that we have not seen a 20% pullback since the Great Recession when the market tumbled more than 50% from October 2007 to March 2009. So will we see another…
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Retirement Planning by the Decades

Posted by byronellis on April 3, 2018

20s These years are all about preparation and laying a foundation. You should be working to build a cash reserve and saving as much as you can. Create a debt payment plan. Sign up for your company’s 401(k) or save into an IRA. Invest for growth. 30s Maintain the cash reserve you’ve started. Be careful with how much debt you take on when buying cars or a house. Continually increase your 401(k) contributions with a target set to max it out (currently set at 18,500k/year)…
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Lessons Learned from Dramatic Life Changes

Posted by byronellis on March 27, 2018

Do you have what it takes to make a change? I am talking a big, huge, life-altering change. A friend, who is not a client of mine, made such a change and I want to share some of his learnings. Jim was making it happen. He had a beautiful wife, three great kids, and was turning heads (in a good way) at his job in the financial industry. He lived in the suburbs in Texas and spent his weekends helping his kids with their different…
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Beneficiary Basics That You Need to Know

Posted by byronellis on March 20, 2018

The last time you set up a new account like an IRA or 401(k) you were asked to choose a beneficiary. You were most likely given a couple of standard options and you checked a box or two. Did you really know what you were doing and what that could mean for your money if you passed away? Let’s review some “bene” basics. What is a beneficiary? A beneficiary is simply instructions to the financial institution that holds the account letting them know who the…
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