Category Archives: Saving

RETIRE Right: Six Keys to a Stronger Financial Plan

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Dear Mr. Market:

This morning I had the pleasure of speaking at the Seal Beach Chamber of Commerce breakfast at the Beach House … a room full of business owners, community leaders, and friends. For those who don’t know me, I’m Matt Pixa, founder of My Portfolio Guide, LLC, an independent fee-only wealth management firm. I’ve been honored to serve on the Chamber’s Board of Directors in the past, and was named 2021 Businessperson of the Year. While my schedule doesn’t allow me to attend as often as I’d like, it’s always a privilege to come back, reconnect, and hopefully provide a few takeaways that help people make smarter financial decisions.

Instead of giving a 15-minute “commercial” about my firm, I wanted to do something more interactive. So I asked everyone to take one of my business cards, flip it over, and write down the word RETIRE. Each letter became a conversation point for one of the six key areas of financial planning every person should be thinking about — no matter their age or stage of life.

These are the pillars that determine whether your financial plan can withstand market volatility, economic uncertainty, and life’s inevitable curveballs. If you missed the breakfast, here’s a recap of the discussion (and yes, you can watch the full 18-minute video below).

Read more: RETIRE Right: Six Keys to a Stronger Financial Plan Continue reading →

From Big Wheels to Ford Escapes: A Father’s Car Payment Hack That Pays for Life

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Dear Mr. Market:

Isabel and her "new" and full paid Ford Escape!

I usually write to you…this fictitious embodiment of economic mood swings and investor psychology, to share thoughts on the markets, interest rates, fiscal policy, or whatever headlines are currently flashing red or green.

But today’s note is personal.

It’s about a different kind of return… not just from stocks or bonds, but from a mindset shift that I believe can serve people for a lifetime. One that came full circle this past weekend when my daughter, Isabel, got engaged and drove off in her first “new” car (a gently used 2024 Ford Escape). As a newly minted TCU graduate about to begin work as a NICU nurse in Fort Worth, Texas, she’s stepping into adulthood with independence, purpose… and a financial hack I hope will serve her for decades to come.

Read more: From Big Wheels to Ford Escapes: A Father’s Car Payment Hack That Pays for Life Continue reading →

42% More Likely to Succeed? Write Down Your 10 Financial Goals for 2025!

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Dear Mr. Market:

Ah, the start of a new year—the smell of fresh planners, gym memberships, and resolutions destined to be abandoned by February. But not this year. Not for you. Why? Because when it comes to financial planning, you’re ready to write it down—and studies show that writing down your goals makes you 42% more likely to achieve them. So, grab that pen and let’s get to work. Here’s your top 10 financial planning checklist for the new year.

Read more: 42% More Likely to Succeed? Write Down Your 10 Financial Goals for 2025! Continue reading →

Die with Zero: A Financial Planner’s Paradigm Shift in Paradise

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Dear Mr. Market:

A few weeks ago I took a long weekend for a getaway with my wife to our favorite place. As empty nesters we have this opportunity every once in a while so after spending a serene few days on the beaches of Maui, I finally took the opportunity to dive into Die with Zero by Bill Perkins. As someone deeply entrenched in financial planning and chronologically standing on the threshold of pre-retirement, the book was more than just a leisure read—it was a revelation.

Continue reading →

Farewell Mint: Top Budgeting Apps to Try Now

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Dear Mr. Market:

Budgeting apps play a vital role in helping us keep track of our spending, save for future goals, and maintain control over our financial health. With the retirement of Mint, many are left wondering which tool to turn to next to stay on top of their financial game. The sun has set on Mint, and for many of us, it feels like a beloved companion has gone away. But fear not, for where one app leaves, others rise to the occasion. That may actually be part of the problem since like anything on the internet there’s almost too much information, choices, and places pitching you things.

Today, we dive into six promising alternatives: YNAB (You Need A Budget), PocketGuard, EveryDollar, Goodbudget, Honeydue, and NerdWallet. Each brings something unique to the table, and it’s worth exploring what makes them shine and where they might fall short. One quick caveat before we dive in…Unlike so many articles and product reviews on the internet, we have embedded links to each of of the budgeting apps but do not get paid to promote any one of them. (Please do you your own due diligence!).

Read more: Farewell Mint: Top Budgeting Apps to Try Now Continue reading →

The Best Worst Days Ever

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Dear Mr. Market:IMG_1253

Behind the curtain of this investment blog and our series of letters to a fictional market character (Mr. Market)…there are actual human beings. We’re certainly not hiding behind a fluffy topic, but on days like today we want to share how life can parallel with things like the stock market; it can also really put things in perspective as we look back at where we were at certain points in life. Additionally, it sometimes helps people know that unlike many other articles and financial advisors you’ll find on the internet, My Portfolio Guide doesn’t cut and paste regurgitated garbage or use a ghost writer to relay our message.

Today is March 13th…Friday the 13th! Today it’s also me, Matthew Pixa, who is writing to you and letting you know that it’s the day my daughter Isabel turns 18. Perhaps we’ll do more of these personal articles but it won’t hurt our feelings if you don’t want to read about my baby girl’s birthday when the stock market is down -25%. You be the judge, but please read on and see where I’m going with this. Continue reading →

Learn the ABCDs of Medicare!

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Dear Mr. Market:Understanding Medicare: The ABCDs

One thing any of our readers will know if that we don’t pretend that we (or anyone) owns a crystal ball. The only thing we can promise you about tomorrow is that the day ends in the letter “y”.

One other thing that we know will happen…God willing…is that you will eventually retire or be 65 and eligible for Medicare. In advance of National Medicare Education Week we are doing two things:

(1) We’re sharing this article written by Steven Stasioski and,

(2) We’re happy to announce a free educational event where we’ll be addressing the ins and outs of Medicare. On October 17, 2019 at 6:30pm you can join Matt Pixa from My Portfolio Guide and Steven Stasioski from SCS Tax & Insurance Services at the Seal Beach Yacht Club. Bring your appetite and questions for a great evening of education and camaraderie. RSVP via email at matt@myportfolioguide.com or call (562)799-5595.

Now…on to the article! Continue reading →

Social Security Scam Alert

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Dear Mr. Market:Scam Alert

We normally pen all of our articles (letters) to you but in this case the work was already done. This one has nothing to do with the stock market or economy but everything to do with your hard earned money being threatened by another scam.

Scams are nothing new but they sure seem to be getting more prevalent and slicker by the day. As you’ll note from the chart below the number of scams are predominantly centered around Social Security and that trend is on the rise.Top Government Imposters

Click here to read an article written by Michelle Singletary in the Washington Post. In the timely article she includes a helpful list and some links that serve as critical reminders of what to be aware of out there.

Have a great weekend and stay alert!

 

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The New “MyRA” … A Direct Route To Retirement Or A Bad Detour?

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Dear Mr. Market:

MyRA#7

If you ask the average hard working American what their top financial concern is, it’s that that they won’t be able to retire.  We could certainly go on and on about different solutions and how people can get on track to make their dreams a reality but today we will focus on a new program offered from the government.  On January 29th President Obama delivered his State of the Union address.  One of the takeaways from this speech was a new retirement account called MyRA (short for My Retirement Account).

Currently over half of the U.S. workforce is not covered by a retirement plan through their employer.  MyRA is targeted at low to middle-income workers, encouraging them to save for their own retirement.  Contributions will be funded through automatic payroll deductions where individuals can start with as little as $25 and contribute amounts as small as $5.  Individuals would be guaranteed that their account would never go down and they will not pay any fees on the accounts.  Sounds like a great product doesn’t it?!  Well let’s take a step back and dig a bit deeper to really explore what the MyRA is all about….

The MyRA can essentially be viewed as a way to introduce individuals that have not saved or funded a retirement account to the many long-term benefits of doing so. At this point companies are not required to be involved in the program, if President Obama wants to force employers to participate a vote from Congress would be required.  The accounts would be funded with after tax dollars much like a Roth IRA.  While it will be funded with payroll deductions individuals will be able to keep their accounts when they change jobs.  MyRA is subject to Roth IRA income and contributions limits.  Individuals can invest up to $5.500 per year (or $6,500 for investors 50 or older); once the owner reaches the age of 59 ½ they can make withdrawals tax-free.  There are also no required minimum distributions (R.M.D.’s). Continue reading →