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All the Gold in California Went Where?

People are fleeing California in droves, and they are taking their businesses (and their gold) with them to Nevada, Texas, Florida, and the like. As businesses and wealthy individuals leave, prosperity in California decreases, one “paper cut” at a time. These losses add up; and in fact, they compound. The exodus will eventually prove financially deadly.

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Ignore It And It Will Go Away

According to a consumer research firm, people who are confronted with daunting financial tasks tend to use the time-tested method of attacking them: running away. This is not an ideal strategy.

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How Much i$ Enough (to Retire)? – Part 1 of 3

Recently, Charles Schwab & Co. asked investors how much money they thought would be adequate to fund their retirements. The consensus was $1.7 Million. It should come as no surprise to anyone that very few people will ever accumulate that much money prior to retirement. What factors will influence your outcome?

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Financial Advisors Get No R-E-S-P-E-C-T

A disgustingly low 2% of surveyed people claimed to trust financial industry professionals. Given slightly more latitude, 15% admitted to trusting financial professionals “a little.” We remain unimpressed with these results, so we decided to look into the reasons why so little faith is evident in our industry. As with so many occupations, this seems to be a case of a minority of practitioners making it more difficult for all of us.

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Not Your Father’s Stockbroker

At a time of maximum complexity, young people are weighed down by lack of financial knowledge and insufficient resources. In earlier American generations, financial advisors were mostly stockbrokers and insurance agents; all worked on commissions. ‘Investing” meant buying individual stocks, and brokers earned huge commissions. Only the well-to-do could afford the transaction costs.