Carnegie Investment Counsel Blog

 

Bob Carroll

Recent Posts

Understanding Trusts: Is Trust Planning Right for You?

Posted by Bob Carroll on Sep 25, 2019 3:56:34 PM

Few financial planning concepts are as misunderstood as trusts. What trusts are and whether you need one are two questions that often arise when talking with a financial advisor. Here are some fundamentals of trust planning: 

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Topics: Financial Planning

Fixed Income: “Chutes & Ladders” Environment

Posted by Bob Carroll on Jan 29, 2019 8:56:24 AM

There is a popular child’s game called Chutes & Ladders you may have played with a child or grandchild.  A key part of the strategy for the game is to climb ladders to the top and avoid going down a slide/chute that makes you lose ground. 

"Chutes and Ladders" could be an apt metaphor for the current interest rate environment. 

After a slow and steady rise in interest rates (i.e., climbing the ladder), the recent volatility resulted in a fairly quick drop in yields (i.e, down the chute). 

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Topics: fixed income

Be Prepared: 5 Key Components to a Strong Financial Plan

Posted by Bob Carroll on Feb 2, 2016 12:00:00 PM

 

Since 1907, "Be Prepared” has been the motto for millions of Boy and Girl Scouts around

 the world. The expression represents the constant readiness and willingness in both mind and body to do the right thing at the right moment.

You don’t have to be a scout to understand the motto applies to all of us. Here are five components of a strong financial plan:

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Topics: Financial Planning

6 Tips to Avoid Awkward Financial Discussions with Your Adult Kids

Posted by Bob Carroll on Nov 24, 2015 5:05:22 PM

Have you had the talk yet?  No, not “that talk”.  To mix a metaphor, the birds and the bees are already out of the barn at this point!  No, this talk is about your financial plan. With the holidays approaching, you may want to consider using this time to enter this conversation. Below are some practical tips you can use to get the conversation started.

1. Don’t Make It Awkward

Appropriate communication of your financial picture is very much a part of a successful financial plan.  After all, it is likely that family members will be the recipients of your estate someday.  They may even be called upon to help manage your finances should the need arise.  It can be a little intimidating for someone thrust into that position without any prior knowledge. Remember to keep calm and have patience.  After all this involves money, family, and the future.  All the makings of a soap opera!  If it helps, have an outline or topic list prepared.

Thanksgiving is a time when families traditionally get together and celebrate the holiday.  While spending time with family often involves eating/drinking, and watching football (and the occasional nap if you’re lucky), it also may be a great time to discuss family finances at some point over the extended weekend together.  After all, how many times can you rave about those sweet potatoes? 

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Topics: Financial Planning

Charitable Donations: How To Pay It Forward

Posted by Bob Carroll on Nov 12, 2014 11:42:00 AM

Giving 101:

As the calendar year approaches its end, many people start receiving what seems like an endless series of requests for charitable donations. Even if you are in the witness protection program, colleges, community organizations, and places of worship know where to find you this time of year!

Gifting is a great way to leave an impact on the organizations and people you care about most. Gift-giving falls under the application of tax code, so be sure you consult a qualified tax advisor regarding your specific situation. However, before you take out the checkbook and make your donation or gift to a family member, there are a few other things to keep in mind when it comes to giving.

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Topics: Giving

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