Best In Wealth - Best Practices For Real People, Investments, Retirement Planning, Money Management, Wealth Building, Financi

This is part 2 of a 10 part series about behavioral finance.  

This is the start of a 10 part season on behavioral finance.  Do not miss the kickoff episode and take the first step in shrinking the behavior gap to increase your investment returns.

Do you have debt?  If so, are following the steps from the authority on getting out of debt - Dave Ramsey.  Today we discuss these steps within the context of a listener's situation.  

What is the true value of financial planning advice?  When I buy a new coat or car, I can touch and feel my new purchase.  I can visualize exactly what my investment is.  We can't touch or feel financial planning advice.  Today we will attempt to quantify the value of financial planning advice.  

The first step to investing is figuring out your investor personality.  Tune in today and read the article below to determine if you are a hands-on or hands-off investor. Are You a Hands-On or Hands-Off Investor? How to Determine the Best Approach to Investing for Retirement article by Scott Spann Choosing your investment options in a 401(k) or IRA can be a challenge. This is because we do not all possess the investing knowledge and confidence to make an informed decision and the investing process itself can be emotional and test our own resolve during good and bad times. Contributing to retirement accounts is an important step but isn’t the only step of the retirement planning process. Saving for retirement may not be enough if you aren’t investing in the right types of investments based on your goals and time horizon. An appropriate level of desired growth and income is needed and every single investor needs a basic investment plan. If you don’t have an investment plan in place you may be hurting your chanc

Is buying a new car a fun experience?  Most people do not enjoy the process, and they rarely leave the dealership thinking they got a good deal.  Follow the 6 steps in today's podcast, and you will not only enjoy the experience, but you will also get you BEST DEAL possible on your next new car purchase!

Do you have the ability to do the things that make you happy and not what makes you money?  If so, it's time to start doing the things that make us happy.  Tune in today to see if you are ready!

“The market hates uncertainty” has been a common enough saying in recent years, but how logical is it? There are many different aspects to uncertainty, some that can be measured and some that cannot. Uncertainty is an unchangeable condition of existence. As individuals, we can feel more or less uncertain, but that is a distinctly human phenomenon. Rather than ebbing and flowing with investor sentiment, uncertainty is an inherent and ever-present part of investing in markets. Any investment that has an expected return above the prevailing “risk-free rate” (think T-Bills for US investors) involves trading off certainty for a potentially increased return. Consider this concept through the lens of stock vs. bond investments. Stocks have higher expected returns than bonds largely because there is more uncertainty about the future state of the world for equity investors than bond investors. Bonds, for the most part, have fixed coupon payments and a maturity date at which principal is expected to be repaid. Stocks h

Seventy percent of people indicate that the number one cause of stress in life is money.  in today's episode, Scott outlines five things that stress people out the most about money.....and what you need to about it.

It is tough for most people to dig deep to see what they want to get out of life.  What do you want to do?  What do you want to accomplish?  How do you want to be remembered?  What relationships are most important to you.  Join Scott in today's episode as he asks the three most important questions you must ask yourself that will help uncover what you most important cornerstones are in life.

CLICK HERE to get Q1 2017 Stock Market Review

Most people spend more time planning a family vacation than planning for retirement.  Today I will give you the top 8 reasons you won't plan for retirement.  I will also explain why it is never too late and why you should start planning now.  It's your life, plan it well!

There are two philosophies when it comes to financial planning - cash flow based financial planning and goals-based financial planning.  At Best In Wealth, we like the goals-based financial planning.  Listen today and learn about both philosophies and why Scott things goals based is the better route and start your path to financial freedom today.

Ever ridden in a car with worn-out shock absorbers? Every bump is jarring, every corner stomach-churning, and every red light an excuse to assume the brace position. Owning an undiversified portfolio can trigger similar reactions. In a motor vehicle, the suspension system keeps the tires in contact with the road and provides a smooth ride for passengers by offsetting the forces of gravity, propulsion, and inertia. You can drive a car with a broken suspension system, but it will be an extremely uncomfortable ride and the vehicle will be much harder to control, particularly in difficult conditions. Throw in the risk of a breakdown or running off the road altogether and there’s a real chance you may not reach your destination. In the world of investment, a similarly bumpy and unpredictable ride can await those with concentrated and undiversified portfolios or those who constantly tinker with their allocation based on a short-term rough patch in the markets. Of course, everyone feels in control when the surface i

The family stewardship to investing starts with the dynamic index fund approach to investing.  Listen today if you are a family steward.

In this episode, we talk about the pros and cons to index funds. Click Here for S&P Indices Click Here for Russell Indices

Click Here to Download The US Mutual Fund Landscape 2016 Report

How will you get income once you are in retirement?  Do you have a plan?  Tune in and find out the best way to accomplish the goal.  Special thanks to Sergey Sanco for his article related to this episode. When it comes to tapping savings in retirement, many retirees fall into what I call the Income Investing Trap. They tilt their portfolios almost exclusively toward “income” investments—dividend stocks, high-yield bonds, annuities, etc.—figuring this is the best way to assure a safe supply of spending cash throughout retirement. Big mistake. Not only can that approach can leave you with a lopsided portfolio—which is never a good idea—but many investments pitched to retirees as secure sources of income may not be as rock-solid as they seem. For example, investors who bought high-yield and emerging market bond funds in search of higher payouts suffered losses of 3% to 4% between mid-November and mid-December, as falling oil prices and currency jitters disrupted bond markets. A more effective strategy: Invest yo

Every year brings its share of surprises. But how many of us could have imagined that 2016 would see the Chicago Cubs win the World Series, Bob Dylan receive the Nobel Prize in Literature, Donald Trump elected president, and the Dow Jones Industrial Average close out the year a whisker away from 20,000? The answer is very few—a lesson that investors would be wise to remember. At year-end 2015, financial optimists seemed in short supply. Not one of the nine investment strategists participating in the January 2016 Barron’s Roundtable expected an above-average year for stocks. Six expected US market returns to be flat or negative, while the remaining three predicted returns in single digits at best. Prospects for global markets appeared no better, according to this group, and two panelists were sufficiently gloomy to recommend shorting exchange-traded emerging markets index funds.1 Results in early January 2016 appeared to confirm the pessimists’ viewpoint as markets fell sharply around the world; the S&P 50

Tune in today to find out what is more important: Wealth or Health?