Monday, 08 July 2019
There is a lot of advertising for annuities today. Many people feel a little skeptical about these financial products. Be warned: This topic can be a little dry, so let me say at the outset that this blog post is most relevant for those near or in retirement. Here we go: “Are annuities a good idea for you?”
Before we continue, please let me emphasize that I’m a fiduciary fee-only financial advisor, which means I do not receive commissions directly or indirectly on the sale of a financial product. As a fiduciary, I put my client’s needs first, always. Also, this blog post is not a recommendation to buy or sell an annuity; rather, it is an outline of my approach to annuities, and the things to consider when evaluating them. As always, before purchasing any investment or insurance product, be sure to do your own due diligence and consult a properly licensed professional should you have specific questions as they relate to your individual circumstances.
Monday, 17 June 2019
Introduction – A Brooklyn healthcare worker and artist
Let me tell you about a healthcare worker that purchased a three-level walkup in Boerum Hill, Brooklyn in the early 1980s at a cost of $35,000. She wanted an easy commute, was prepared to “deal” with the neighborhood, and she wanted to own and collect some passive income. The property is now worth $4.5 million (that is a CAGR of 14.0%). In the same neighborhood, a couple purchased a similar property primarily so they could afford an art studio, they also experienced enormous growth in their residential property value. In New York City, and no doubt other cities around the country, there are many property owners entering retirement with significant home equity wealth. Your retirement portfolio can be made up of the following - residential equity, deferred tax...