Creating a "paycheck" in retirement
Wealthcare For Women
by Russ Thornton
6d ago
Photo by Money Knack on Unsplash Happy Wednesday, Let’s assume you’ve just retired. Now what? Whether you’ve left a tenured teaching position or are hanging it up after years on the road as a commission-earning salesperson, your paycheck – whether it was consistent or not – is going away. Hopefully, you’ve done a good job planning and saving for this day and the years that follow, but it’s still an uncomfortable feeling. You’re walking away from a stream of income, and even though you had to work in exchange for that income, now that the income is gone, how will you make your finances and yo ..read more
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Equigravisphere
Wealthcare For Women
by Russ Thornton
2w ago
Photo by NASA on Unsplash Happy Wednesday! Thank you for all the lovely replies to last week’s email. I received dozens of messages, all full of warmth, empathy, and kindness. You have my (and Elizabeth’s) sincere appreciation and gratitude. ? A few months back, I read Robert Kurson’s book, Rocket Men: The Daring Odyssey of Apollo 8 and the Astronauts Who Made Man's First Journey to the Moon. Like all of Kurson’s books, it was hard to put down. The one thing in the book that stuck with me was his description of the “equigravisphere.” First of all, c’mon… that’s a pretty cool word. In the boo ..read more
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9 Investments Women Should Avoid
Wealthcare For Women
by Russ Thornton
2w ago
You don’t have to look far to find all sorts of recommendations for investments you should own. Turn on the TV, look on your phone, or spend some time in front of a magazine rack, and you’re bombarded with investment recommendations competing for your attention. And your dollars. In fact, many pundits will gladly tell you which investments you should “Buy Now!” Today, however, I want to offer another perspective. I’d like to list 9 investments I think you shouldn’t have in your portfolio. Let’s get started: Investments that aren’t easy to keep track of. Don’t invest in anything where info ..read more
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The only constant in life...
Wealthcare For Women
by Russ Thornton
3w ago
Our Winnie at Cape San Blas, FL - May, 2023 On Saturday, February 24th, Elizabeth and I were faced with the heartbreaking decision of letting our wonderful Winnie go to The Rainbow Bridge. As we started to treat the arthritis in her knees just a few weeks ago, one thing led to another which led to an MRI. We got the devastating news on the 22nd that she had osteosarcoma eating away the vertebrae in her cervical spine. We brought her home from the hospital to spend a final day or two with us where she got a steady stream of love, pain meds, and all the treats she wanted. Then on an otherwise ..read more
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Goldilocks and the 3 financial plans
Wealthcare For Women
by Russ Thornton
1M ago
Happy Wednesday! After writing last week’s article on the potential cost of being “conservative” I’d planned to follow it up this week with another alliteratively titled piece on being “aggressive.” Maybe something like the “artificial allure of an aggressive approach.” But rather than write a counterpoint to last week, I decided to tackle the REAL issue as I see it. First, a little context… As you’ll see in the final section of this 2013 article, in the past I would create 3 financial plans for each client: This approach was based on the idea of creating an “ideal” plan or what you’d love ..read more
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When being "conservative" can be costly
Wealthcare For Women
by Russ Thornton
1M ago
Happy Wednesday! I’m regularly told by people who are referred to me that I was described as “conservative” by the person that pointed them my direction. And while I can think of much worse things to be called, what does “conservative” even mean? Like many things in personal finance, it depends… Conservative for one person might be considered aggressive to another. And vice versa. But I’m not going to attempt to define the word conservative. Instead, I want to highlight a couple of examples - from my perspective, at least - where being “conservative” might be doing the exact opposite of wha ..read more
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More money, same problems
Wealthcare For Women
by Russ Thornton
1M ago
Happy Wednesday! F. Scott Fitzgerald once said, “The rich are different from you and me.” Ernest Hemingway replied, “Yes, Scott, they have more money.” According to this article, maybe this conversation between Fitzgerald and Hemingway never happened. But I’m not going to let that get in the way of a good setup for this week’s letter… “Rich” is a subjective and increasingly weaponized word politicians like to toss around. But whatever you choose to call it, some people have more money than others. I have clients that have 7-figure incomes. Some who are worth tens of millions of dollars. I a ..read more
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Read this before you hire a financial advisor
Wealthcare For Women
by Russ Thornton
1M ago
Happy Wednesday! Whether you’ve never worked with a financial advisor or you currently have an advisor and are considering a change, I’d like to share a few things for you to consider before you make this important decision. And while I’m using the term “financial advisor,” the same applies whether you’re considering a financial planner, wealth manager, or any of the other titles floating around these days. One more qualification: The following is my perspective based on my 30+ years as a practicing personal financial advisor. If you disagree or have questions about any of this, please leav ..read more
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Let's Talk Taxes
Wealthcare For Women
by Russ Thornton
2M ago
Happy Wednesday! Well, it’s that time of year again… It seems that every other commercial on TV is a pitch to prepare and file your taxes. Many with the promise of an interest-free “tax refund advance.” ?‍♂️ And it’s only going to continue as we get closer to April 18th, the deadline to file your 2023 taxes (without an extension). I’m not an accountant or a CPA. I don’t prepare anyone’s taxes, not even my own. But taxes have always been an important element of the financial planning conversations I have with my clients. Taxes influence virtually every financial decision you’re making. Eithe ..read more
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What Are Your Money Habitudes?
Wealthcare For Women
by Russ Thornton
2M ago
Happy Wednesday! I got a lot of replies to last week’s email about being more selfish… Several of you told me The Fault In Our Stars is a great read, so I’ve added it to my ever-expanding reading list. One of you suggested I also read Ayn Rand’s The Virtue of Selfishness. And a few of you shared some personal stories with me around the idea of being selfish. Or not being selfish enough. I always read and appreciate anything you have to share, so keep ‘em coming. Thank you! Today I’d like to revisit the idea of our unique money personalities… This is ground I’ve tilled before and will certai ..read more
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