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THREE QUESTIONS THAT CAN PREDICT FUTURE QUALITY OF LIFE

September 25, 2015 By Timothy Shanahan

TFS headshot
This is thoughtful and actionable news for anyone who is considering retirement planning.  MIT AgeLab in an article by Joseph F. Coughlin, PhD, has identified three simple questions you should ask yourself to assess how prepared you are to live well in retirement.
  1. Who will change my light bulbs?
  2. How will I get an ice cream cone?
  3. Who will I have lunch with?

When it comes to retirement planning, we’re inclined to focus on accumulating assets and making sure we spend our money wisely. But while our biggest fear may be outliving our wealth, there’s an even greater risk of:

  •  Losing our independence due to ailing health;
  •  Being unable to access the big and small things that make us happy, and
  •  Facing a decline in the number of friends in our social network.

This is thoughtful and actionable news for anyone who is considering retirement planning. Read the whole article here:  WWW.CompassCapital.co/documents/three_questions.pdf

 If your family or friends need financial advisory help in this area, We do that!

 

 

Tim Shanahan781-525-6083 x 305

Providing trusted financial advice since 1984.

Visit our web site

Filed Under: Compass Capital Tagged With: retirement planning

The Risks of Market Timing The importance of never giving up

September 25, 2015 By Timothy Shanahan

f market volatility isn’t managed properly, market timing can seriously impact long-term performance.  On the other hand, volatility provides investors the opportunity to buy stocks and mutual funds at  attractive prices. So you can never underestimate the value of market timing.

Remember why you started

If you’re like most investors, you started your financial plan with the intent of achieving any number of goals. Some were short-term like buying a house, while others had longer time horizons, such as enjoying a comfortable retirement, sending your kids to college or buying a second home.

Understand the risks

market timingWhile many investors worry about market risk, company risk, interest rate risk, inflation risk or credit risk, what it all really boils down to is the risk of losing money.

Read the whole article here:

If you have any questions, please do not hesitate to contact any of our Trusted Financial Advisors. We look forward to speaking to you soon.

Timsign

Thanks
Tim Shanahan
President and Chief Investment Strategist

“Your Trusted Financial Advisor”
Compass Capital Corporation 50 Braintree Hill Office Park, Suite 105, Braintree, MA, 02184 Phone: (781)535-6083 x 305 Cell/Voicemail: (617)435-3966 Fax: (781)535-6084 www.CompassCapital.co

Filed Under: Uncategorized

Did You Know That Volatility is ALL Over Your Portfolio?

September 25, 2015 By Timothy Shanahan

13d9c-icanttakeitanymore-bmpVolatility can be measured and charted and we can even “invest” in it, but do you know what volatility is and what it looks like? In some ways recognizing volatility is like that old definition of pornography, “You’ll know it when you see it.” It’s in your face due to the media talking heads who hype it breathlessly on a daily basis and you see it when you check your account balances. Read Your One-Minute Guide to Stock Volatility offered by FINRA to quickly learn about what volatility is.

An interesting observation for us as advisors over the last month as volatility returned is that many clients have said to us, “Your phone must be ringing off the hook with worried investors.” Actually – it has not been ringing at all. I’m not sure if it’s because we’re all been preconditioned to expect volatility and market corrections or because we’re doing a great job as advisors teaching our clients to “hold the course.” I’m hoping that it’s the latter.

Did you know that even when there are volatility moves of +/- 2% in a day that historically it has led to higher returns? See this very interesting short paper by SEI, Volatility and the Two Percent Day. It does say to stay the course and offers some pretty convincing math as to why.

If you or anyone you know needs help with understanding volatility or dealing with it in your portfolio–we do that! Give any one of us a call.

Filed Under: Uncategorized

Putting the ABLE on for the Disabled

December 22, 2014 By Timothy Shanahan

Congress Passes ABLE Act: Major Victory for Persons with Disabilities and Their Families

This is significant and actionable news for anyone who has a family member with disabilities (with an age of onset up to 26 years old)

Similar to a Roth IRA Congress has just passed an act to allow for the funding of a tax-exempt savings account that can be used for maintaining health, independence and quality of life.

Read the details about the 10 things you must know about ABLE accounts here in this article by The National Disability Institute.

An ABLE Account will provide more choice and control for the beneficiary and family. Cost of establishing an account will be considerably less than either a Special Needs Trust (SNT) or Pooled Income Trust. With an ABLE account, account owners will have the ability to control their funds and, if circumstances change, still have other options available to them.  Determining which option is the most appropriate will depend upon individual circumstances. For many families, the ABLE account will be a significant and viable option in addition to, rather than instead of, a Trust program.

Filed Under: Compass Capital

Seize The Day and Talk Turkey

November 24, 2014 By Susan Scheide

Carvé Diem?

If you’re fortunate enough to have family to spend Thanksgiving with, consider the time you have together as more than a chance to eat, watch football, and nap.  Those too-infrequent times you have with your parents and/or your children are golden opportunities to talk about some of the financial things we always mean to talk about, but seldom do.

People of my vintage and older may have been brought up the way I was—financial matters are private, and not to be discussed with “children.”  Unfortunately, in my house, we never stopped being children to my parents, and it’s only now, when my father is gone and my mother is 84 and overwhelmed that I am allowed to learn of their financial plans.  I am, in fact, now the co-executor of my mother’s estate.  And yet she still won’t let me see her bank statements, and when I reminded her that it will be a nightmare for me if she insists on holding assets outside of the trust that was created to hold all of her assets, she said, “I don’t mind—I’ll be dead.”  Uhm, thanks Mom!

This letter from Joe Dietsch to his son was originally published in 2005, but it’s as relevant today as it was then.  If you are a parent with college age or older kids, don’t keep them in the dark.  One day you may need them, and the more they know the better.  Remember also that these are the people who will pick your nursing home :). If you’re the adult child of an elderly parent and don’t know what their plans are, please consider having the discussion with them over the holidays when you’re together (but not at the Thanksgiving Dinner).

Some topics of discussion with your family might include:

For Adult Children and Their Parents

  • Have they created an “In Case of Emergency” (ICE) book* of any sort? If so, where is it?
  •  Do you have a safe deposit box? Where is it? Who is deputized? Where is the key?
  •  Do you have a will? Is it up-to-date? Where is it?
  •  Do you have a health care proxy? Who is it? Where is the paper?
  •  What are your end of life wishes? Have you signed a “Do Not Resuscitate” (DNR) order? If so, where is it? More importantly have you discussed your wishes explicitly with your designee?
  •  Who is your executor?
  •  Where are your accounts held?

For Parents and Their Children

  • Do you have any credit cards? Do you understand how much you end up paying for things you buy on credit?
  •  Have you ever checked your credit score?
  • Do you know how to build a good credit history?
  •  You’re working now—does your company offer a 401(k) or other savings vehicle? Are you participating?
  •  You have earned income—have you opened a Roth IRA or regular IRA? Do you understand that you can deduct contributions on your income tax returns?
  • What are your goals? Do you wish to own a home or condo?

The list of things could go on and on.  The questions above are but a sample of the many things that people often fail to talk about.

Remember the old adage about not planning to fail, but failing to plan?  Opening up the lines of discussion is a good first step. Revisit our blog posting called: Teach Your Children Well (About Money).

Contacting your Trusted Financial Advisor is an excellent second step!

Best wishes to all of our clients and friends this holiday season.

 

* if you need help in preparing an ICE Book see our earlier blog posting about it here

Filed Under: Uncategorized

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