Benefits for All! Establishing a Business that Pays

Daniel Yerger About the Firm, Financial Planning Leave a Comment

Today marks the three-year anniversary of the launch of MY Wealth Planners®, Longmont’s first-and-only fee-only financial planning firm, a title that it maintains to this day. While the path to launching MY Wealth Planners started four and a half years prior as a “supported independence” practice under Waddell & Reed, the launch into full-blown entrepreneurship is both exciting and just …

Service Model Update

Daniel Yerger Financial Planning 3 Comments

Hello everyone! This week is not our usual broad educational content but instead is to notify and educate you on changes we’re applying to our service models. If you’re an existing client, please read thoroughly. If you’re considering becoming a client, this should be a helpful tool for you to understand our service model. As always, a fair disclaimer to …

Play Stupid Games: Win Stupid Prizes – The FTX Story

Daniel Yerger Financial Planning 1 Comment

In the early days, investing was largely the domain of “caveat emptor,” or “buyer beware.” Before the 1930s, there was essentially no regulation of investments and securities. At the time, one judge observed that people were “Selling things no more material than the blue sky.” This led to significant regulation in the 30s and 40s to create laws around the …

Answering the Zweig Questions

Daniel Yerger About the Firm, Financial Planning Leave a Comment

Jason Zweig is arguably one of the most effective watchdogs of the financial advice industry. With a 30 year career in following the finance industry, he’s contributed to some of the hardest hitting journalism, uncovering issues with misconduct both among advisors, associations, and regulators. Five years ago, Zweig published his list, “19 Questions to Ask Your Financial Advisor” in the …

2023 Tax Rates, Credits & Contribution Limits

Daniel Yerger Financial Planning 3 Comments

Hello folks! The IRS has released its indexed updates to tax rates for 2023. On average, rates have increased by approximately 7%, although there’s a lot of “rounding” in how the IRS establishes the exact brackets and rates. Details below! Standard Deduction The standard deduction is increasing by $900 and $1,800, respectively, between single and married filers. This means the …

The Problems with Price and Value

Daniel Yerger Financial Planning 1 Comment

Imagine for a moment that you’re walking into a car dealership. You don’t need a new car per se, but your current car is starting to show its age, and you’re thinking about replacing it now while you’re ready for it and not waiting until it’s been driven into the ground. A car salesman approaches you and, with a smile, …

Apples to Apples – It’s Not About the Money

Daniel Yerger Financial Planning 6 Comments

Recently, a well-known financial advisor took to Linkedin to share a bold opinion: “Advisors who make more money than you are some combination of smarter and/or harder working. End of story.” On its face, one can see the argument for it. Surely if you’re a financial professional whose job is to help their clients optimize their finances, surely you should …

Boulder County TABOR Notice

Daniel Yerger Financial Planning 2 Comments

Along with the Colorado Statewide Ballots, we get localized ballots in Colorado for our county and municipality. We’ve written about the Colorado Statewide ballots already, and for those readers not living in the Boulder County area, you can probably just read the statewide ballot article or otherwise take a pass on this week’s blog. We’ve divided it into countywide and …

XYPN Live 2022 – The Good, The Bad, and the Dragon Slaying

Daniel Yerger Financial Planning 3 Comments

For our regular readers, you’ll notice that this came out much later in the day than usual. To get you up to speed, I’ve been at XY Planning Network’s “XYPN Live” conference, where we spend time on continuing education, community building, and updating ourselves on technology and other solutions. The conference was let out this afternoon, and in a change …

Overemployed Risks and Rewards

Daniel Yerger Financial Planning 2 Comments

It’s not uncommon for us to hear about being underemployed; the popular “college graduate working at Starbucks” sort of observation is often raised as a criticism of higher education and the low return on investment from many majors. Yet, there is an inverse term that we’re talking about today: overemployed. This term shares a resemblance to the expression “working two …