Category Archives: Wealth Management

Letter of Final Wishes (LFW)

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Dear Mr. Market:

This entire personal finance blog is about “letters” being written to you (Mr. Market), the fictitious character that exhibits all sorts of emotions due to the gyrations of the stock market. What letter, however, is the most important one YOU could ever write?

A Letter to My Family

It’s called a “Letter of Final Wishes” (LFW), or as we’ve described it to our clients at My Portfolio Guide, LLC, a “Letter to My Family: Things you should know“. On page 6 of the Spring edition newsletter of “the Guide” (click here if you have not seen it yet), we touch on this very important gesture that you can do for your family. Aside from the legalities of estate planning, this exercise is perhaps the single most loving and considerate document you can create for your family that they will forever be grateful for.

Our template (which we share below) is not a legal document and should never replace your will or living trust along with all the other ancillary documents such as a health care proxy or power of attorney.

Continue reading →

Should I convert my IRA to a Roth IRA?

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Dear Mr. Market:download-2

With regard to investing, sometimes no action is the proper action…but not always!

Now might be a very good time for a very specific act: converting assets from a traditional IRA to a Roth IRA. Here are a few reasons why: 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 →

Panic is never a strategy…

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Dear Mr. Market:5 years

Today marks the anniversary of the stock market bottom 11 years ago. How ironic is it that on March 9th 2009, when the market and everyone in finance was curled up in a fetal position, we now are witnessing a market drubbing like we haven’t seen in years on that same anniversary date? For those with short-term memory lapses, 11 years ago the Dow Jones went from 14,164 in October of 2007 down to 6,547 on March 9, 2009. The “Financial Crisis” of that period effectively saw a -53.77% decline in the stock market.  What has ensued since then happens to be the longest bull market run in history. Continue reading →

Don’t belittle your IRA Beneficiaries

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Dear Mr. Market:

download“In this world nothing can be said to be certain, except death and taxes.” – Ben Franklin

“When it comes to divide an estate, the politest men quarrel.” – Ralph Waldo Emerson

As Mr. Franklin notes, none of us will live forever. And if you have ever been part of a contentious division of estate assets, you surely know Mr. Emerson’s quote to be true. You can’t avoid death, but with some careful planning on your retirement accounts, your heirs can avoid (needlessly large) taxes and the quarreling. The key is setting up beneficiaries, and setting them up correctly. Continue reading →

Annuities aren’t the only thing Ken Fisher is concerned about…

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Dear Mr. Market:Unknown-1

If you follow financial news at all, you have likely been paying attention to the controversy surrounding Ken Fisher. Ken leads a firm with over $100 billion in assets under management, and he made some comments that did not go over well at a recent industry conference. Following that, the media dug up past comments of his from social media and other industry events. Institutional clients have so far pulled out over $3 billion invested with Fisher, and the company is understandably now in PR damage control mode.

Many are using this as an opportunity to bash him and his organization. Ken has rankled many in his industry, whether from his overwhelming marketing success or his “I hate annuities” stance, and it’s a convenient time to sling mud his way. Continue reading →

Commission Free trades are now the norm!

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Dear Mr. Market:

To say that the stock market offers a changing landscape is an understatement. It’s up, it’s down, it’s sideways but regardless there is always something new and now…there is something free; stock trading!download

Charles Schwab has truly been a pioneer as being a disruptor and innovator in the financial services world. Once mainly known as a discount brokerage firm for the do-it-yourself and self-directed investor, they created a deep menu of service offerings catering to high net-worth investors but always tried to stick to their roots to still make investing accessible to all. Just last month they shook up the industry once more with a huge announcement… 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!

 

What to do if the Stock Market Correction turns into a Bear Market?

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Dear Mr. Market:

We typically write you letters about your volatile actions and the erratic behavior you bestow upon us as investors. Many of our letters also try to put certain economic events into perspective so that people don’t let your wild stock market swings force them into making bad decisions. All that said, it’s come to our attention that we can finally roll out the answer to a question that is not always obvious:

What should an investor do if a standard stock market correction turns into a bear market? shutterstock_262478570

First off, let’s revisit the basic definition of a correction versus an official bear market. Click here for an article we wrote during the last correction in February, which incidentally at the time felt like the end of the bull market had finally come. Although the market sold off almost -10% in a short span, it clearly came back to reach record highs until October came around.

So…can we now apply the four most dangerous words in investing? Continue reading →