Investing money successfully isn’t easy; if it were, then everybody would be rich! Moreover, there is no Holy Grail, or magic, risk-free formula that insures success and worry-free sleep. In short, investing involves some risk-taking, and despite what you may have been led to believe, there is no way to get around it—you can mitigate risk, but you can’t eliminate it.

The Federal Reserve has now held short-term interest rates at close to zero for over six full years.  Six years – that is 2,190 days, and counting!  It is no wonder that finding a reasonably safe way to earn a return on cash has become one of the biggest questions on investors’ minds. 

In fact, some of the most frequent questions I field these days are about this topic:

•        What should I do with my cash?
•        Do you think interest rates are going to go up soon? 
•        Why hold any cash at all in my portfolio?

If you have children or grandchildren and have the soaring costs of college education on your mind, you might want to consider a 529 plan as part of an overall long-term savings strategy.

From clients looking at home repair and remodeling projects, from a new roof or windows to a new kitchen, I'm frequently asked which is the best way to withdraw money to pay for these “upgrades.” Should you use your investment account or retirement account, such as an IRA?

The Eighth Wonder

We all know how tempting it can be to buy those nice but expensive pair of sunglasses or shoes but would you be better off putting aside some those discretionary purchases to save, instead? Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't ... pays it.”

Why do I need to think about my collection in terms of wealth management?

Numerous studies, including one operated by BMO Private Bank, have suggested that 10% to 25% of a family’s net worth can be comprised of art, jewelry or collectibles. This can be the result of a passionate hobby that is enjoyed throughout the course of one’s life or the result of an inheritance. Given the demand for rare artifacts of legitimate value, the price of these items can be astoundingly high.