Inheriting a Gift of a Lifetime

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As the old saying goes, the only two certain things in life are death and taxes. Today, we’re talking about both. Inevitably, through no fault of your own, you will pass away. Turns out there is a 100% chance that you will not live forever! Sadly, you and everyone else share this fate, and consequently, you also share the obligation …

The Five Most Common Issues of “The Last Guy”

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It might surprise you to learn that most of our clients worked with a financial advisor before they came to MY Wealth Planners.  In fact, the vast majority of clients come to us with a grab-bag of ex-advisor’s insurance or investment recommendations. While early on, a financial planner might be surprised to see the goofs and bad choices recommended by …

There Are No Free Lunches

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It’s commonly held that there are no free lunches. Expressions such as “if you’re not paying, you’re the product” come to mind when people talk about social media, for example. In the case of the investment world, we talk regularly about all the hidden tricks, fees, and gotchas that are designed to “move the customer’s money from their pocket to …

Book Review: Infinite Number Going Up

Daniel YergerFinancial Planning 1 Comment

I’ve found the time recently to read two books on the subject of the FTX crypto scandal in the past few months and wanted to take some time to shed some light on the story. I wrote at the time about the preliminary examination of what caused FTX to implode, but the two books on the subject lay out the …

Shelf Space

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Have you ever had this embarrassing moment happen to you? You’re in a grocery store in the chips and soda aisle, and some fellow is up on a ladder organizing a bag of Pringles on the top shelf. You’re looking for something that isn’t Pringles, and frankly isn’t even chips or soda, and you walk up to the fellow and …

The Financial Advice Shortage

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If you weren’t aware, there are not many financial planners. In Longmont, of 132 securities licensed professionals, only 89 are licensed to give advice, and of those 89, 22 are CFP® Professionals, and of those 22, only 4 are practicing financial planners. In Longmont, MY Wealth Planners® is the only practicing fee-only financial planning firm with a CFP® Professional working …

Money Scripts – Knowing Your Lines

Daniel YergerFinancial Planning 1 Comment

Believe it or not, you have some lines of a drama or comedy memorized. Sure, we all know quotes from our favorite movies and shows, but that’s not what we’re talking about today. Rather, you have a script that you follow day to day in your financial life. It’s a pre-written set of lines that you lean on in times …

The Good of Disruption and Differentiation

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Today we’re going to spin a yarn about three seemingly unrelated events: The steady shift of investment money from active investment products to passive investment products, sales practices in Canadian banks, and the recent anti-trust settlement regarding realtor commissions. You might look at this with bemusement. “What does this have to do with me?” And fair enough for our non-Canadian, …

This Doesn’t Look Like Anything to Me (IULs Part 2)

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It’s rare that writing on finance that I get to do a “part 2”. So many topics are recurring topics that, while bearing repetition, fail to be meaningful to write about. Yet, as the old saying goes “History doesn’t repeat itself, but it rhymes.” This week, we’re reflecting on a year’s worth of improvements to a specific financial product’s market, …