I’ve just finished reading The Man Who Knew: The Life and Times of Alan Greenspan, by Sebastian Mallaby. It is, without doubt, the most personally and professionally relevant biography I’ve read in many years. You may remember that Dr. Greenspan was Chairman of the Federal Reserve Board and the Federal Open Market Committee from 1987 until his retirement in 2006 (just short of his 80th birthday). In various capacities, Dr. Greenspan advised every American president from Nixon to George W. Bush, excepting Jimmy Carter. In this book, Mallaby provides both… Read more Principles and Observations →
Helping Families Flourish
Financial Planning is a relatively new profession. I learned of it myself for the first time in 1989. I returned to the classroom to study accounting, economics, and finance. I also enrolled in a two-year course in Financial Planning with The College for Financial Planning in Denver, Colorado. Upon completion of that course, I began my career in the financial services industry in 1991. In 1995, I was awarded the CFP® designation by the Certified Financial Planner Board of Standards. At Family Wealth Management, L.L.C., our policies and processes are consistent with the standards established by that board.
My purpose has always been to build a financial services practice that enhances the lives of everyone it touches, and that will be doing so one hundred years from now. In the twenty years that have elapsed since I was introduced to the financial planning profession, I have worked with literally hundreds of families. I like to think I’ve made a difference. We at Family Wealth Management, L.L.C. sincerely look forward to working with you and your family, too.
(Mike holds FINRA Series 6, 7, 63, 65, and 24 registrations* and is licensed in Kansas for Life, Health, and Variable Insurance Products)
On July 7, 2015, Lowell Wood became America’s Top Inventor surpassing Thomas Edison. Edison, often credited as the man who invented the 20th century, was the record holder for eighty-two years. Wood now owns an astonishing 1,085 patents and has 3,000 more awaiting review. Lowell Wood is quite the intriguing individual who enthralls himself with an abundance of reading each day. Reading allows him to obtain the information needed for inventing. That’s a trait he shares with the great Edison. Like Edison, when a problem presents itself that needs to… Read more America’s Most Prolific Inventor →
There is a story of Ray Bradbury’s that lives just under my skin, ready to be brought out at any time to be marveled at, nodded in agreement with, and used as a reminder. It’s not fiction; it’s an anecdote from his childhood. It’s about having a hero and abandoning him. From Zen in the Art of Writing: “Buck Rogers arrived on scene [when I was nine], and it was instant love. I collected the daily strips, and was madness maddened by them. Friends criticized. Friends made fun. I tore… Read more Why You Need Heroes (Even If You Aren’t Sure You Believe in Them) →
Author: Teresa Mears Tax season is a time of stress for many, but it can be a joyful time for the roughly 75 percent of Americans who receive income tax refunds. While the refund really means you’re getting back money you loaned to the government at no interest, in practical terms it often means an unexpected infusion of cash into your wallet or bank account. Last year’s average income tax refund was $2,755, according to the Internal Revenue Service. That’s a nice chunk of change. It’s a great problem to… Read more Smart Ways to Take Advantage of Your Tax Refund →
There’s been lots of coverage in the news the past couple weeks about changes to Social Security claiming strategies, so we’d like to share a few key highlights about what’s changed and how it may affect you. The Bipartisan Budget Act of 2015, signed into law by President Obama on Monday, November 2, 2015, closes several “unintended loopholes” in Social Security’s rules. It effectively eliminates a married couple’s ability to use well-known social security claiming strategies – file and suspend and restricted application for spousal benefits – which have made… Read more Social Security Claim Changes →
I. Choosing the Wrong Controlling Instrument Don’t let the fancy language scare you. It just means that some people choose wills when they should have a trust, and vice versa. I’ll admit to you right here that I prefer trusts for most of my clients, even for those who do not yet have substantial net worth. However, I always leave that decision to a conference between the clients and their attorney. In cases where wills are used instead of a trust, I still often like to see provisions in the… Read more Six Estate Planning Mistakes →
For those of you who are my age (69) or older, this little essay will be as much a refresher as a history lesson. But, if you’re younger than I am (most of you), read very carefully and pay really close attention; you are about to receive an investing lesson for the ages. (My thanks to Nick Murray for the data and the idea.) 1975 The war in Vietnam had been won militarily, and a peace accord had been signed. The communists had withdrawn to the prewar border. But, Congress… Read more A Little History Lesson for Investors →
I think most of you would agree that the foundation for America’s best possible future can only be found in the bedrock of an enduring political system based on the rule of law, economic and civil liberties, a strong work ethic, and a superb educational system. Although these principles are embedded in our nation’s DNA, many people believe that they are all in some danger of being lost. They fear for the future of our children and grandchildren. But, aside from political activism – an avocation most of us have… Read more Some New Thoughts on Old Money →