How to choose the best financial advisor for you

Looking for a female financial advisor? At Carnegie Investment Counsel, we asked three of our female financial advisors for tips about how to find the best investment advisor for you. They emphasized that team members at Carnegie, male or female, focus on providing a customized and hands-on approach to services from financial planning to portfolio management. The point is to assess any advisor for the best fit when choosing a long-term financial partner.

As 2019 was ending, I was reading a few articles and blog posts recapping the last decade of stock market returns.

Throughout this period, there were many instances where you could have been scared out of the market or sought signals that would indicate a “top” in the market.

For example, remember in 2013 when actress Mila Kunis said she was going from cash into stocks? The S&P 500 is up about 140 percent since she made that announcement.

Or how about in 2016 when the cover of Barron’s (a popular financial magazine) boasted “Get Ready for Dow 20,000?” The Dow Jones Industrial Average is in shouting distance of 30,000 or about 57 percent higher from the date of publication.

How the new SECURE ACT rules may change how you save for retirement

In mid-December 2019, the “Setting Every Community Up for Retirement Enhancement” (SECURE) Act was included as part of a massive spending bill approved by Congress.

Notably, this may be one of the most significant pieces of retirement legislation in years.  

How to care for others by caring for yourself first financially

Ongoing changes to the structure of the typical American family unit have created a new designation known as the “sandwich generation.”

The sandwich generation is defined as those Americans who are simultaneously responsible for their own children and their aging parents. Across the country, these middle-aged adults are finding themselves increasingly compelled to manage a multi-generational extended family, effectively “sandwiched” between their children and elderly parents.

The Big S-Curve

The most common things that typical market observers are currently worried about (partially fueled by the media) revolve around politics, the trade war, interest rates and the timing/depth of the next recession.

It is much less common to hear someone talking about the potential positives. Fears like this are nothing new, and in fact, I cannot remember a time in my career when there wasn't a slew of fears to worry about.

The upcoming holidays are a great time to share financial wellness tips with the young adults, grandchildren and young relatives in your life. As families gather, it is important to pass on stories and traditions. So why not the traditions of financial literacy as well? With accelerating college debt, the young people in your life may be most in need of guidance.

Here are some healthy financial practices to share this season:

“Retirement age” can mean different things to different people, as there are many things to consider when choosing your planned retirement age.

Well-conceived planning in the years before your actual retirement day can make a significant difference in the ultimate value of the assets available to you in retirement. Tax implications and the rules surrounding Social Security benefits make it important to be aware of key dates.

Here’s a look at factors that might help you choose the best planned retirement age for you.

Anyone who follows the equity markets on a stock by stock (or company by company) basis (like me) has likely noticed that the market has experienced a clear shift in behavior since early September.

Some examples of this include:

• Significant strength in the Financial sector with many financial stocks hitting all-time highs
• Significant strength in Industrials, with many at new highs
• A clear shift toward value stocks and away from smaller/newer growth stocks
• A shift away from the previous winners and into the previous losers
• Many of the “S-Curve” plays – see blog from 11/4/19 – have declined
• Weakness in REITS, utilities and consumer staples stocks 
• All-time highs in the major market indices

Raising a child with special needs has its own rewards. Someone once said, it's like taking a trip and arriving in Copenhagen when you thought you were going to Paris. Copenhagen has its own joys, but they may not be what you imagined about Paris. The milestones you dreamed of before becoming a parent may be different now.

Special needs financial planning can seem daunting for parents. There may be medical expenses today and planning for your child’s care when you no longer can. Here are eight steps to break the process down into manageable chunks.

What Should I Bring to My Meeting with a Financial Advisor?

Meeting with a financial advisor for the first time can feel intimidating when it is not always clear what you are expected to bring or how prepared you need to be.

This checklist is designed to make that part simple.