Financial Spotlight Blog

Fiduciary Standard vs Suitability Rule – Choosing a Financial Advisor

fiduciary-standard-suitability-rule

Although the term fiduciary has been around for a very long time, most have not heard of it until recently. Our former president and the Department of Labor decided that it was in the best interest of the nation to hold financial professionals who provide advice to the public as it relates to their retirement accounts to what is called the “fiduciary standard”. Despite the enhanced visibility of the term ‘fiduciary,’ many people still aren’t entirely clear about its definition, let alone how the term impacts their own financial situation or choosing a financial advisor.


Surviving the Financial Nightmare of Divorce

Surviving the Financial Nightmare of Divorce

Going through a divorce is never fun. Not for you, and definitely not for your children (if you have them.) The results of a heated, adversarial divorce can be catastrophic – both financially and emotionally for you. And a truly vitriolic divorce can put your children into therapy for many years to come.


Life Insurance Protection when Approaching Retirement

Life Insurance Protection when Approaching Retirement

Contrary to many financial advice, there are times when you may want to continue life insurance coverage as you approach and enter retirement. There can be many reasons to keep life insurance coverage so don’t be too quick to pull the trigger on getting rid of your life insurance as you approach retirement.


Top 5 Investing Myths and Misconceptions that can be Costly

Top 5 Investing Myths that can be Costly

There are many common investing myths that can be very costly, leading you to be too conservative, too risky or avoid investing completely. We’d like to steer you away from some of the most common investing misconceptions – better known as traps – that can significantly injure your investment power and financial strength.


Social Security Challenges: Can Reform Stop the Bleeding?

Social Security Challenges: Can Reform Stop the Bleeding?

With the election in full swing now, regardless of any political antics and personal attacks, what remains beneath the drama the media is reporting are the big issues facing our country. One of the biggest issue is Social Security and what is to become of it. And that is a very big issue, indeed, since it affects us all.


Inflation Impact on Retirement Planning

Inflation Impact on Retirement Planning

Few things can cause as many problems for your retirement outlook as inflation. You know that when the average inflation rate increases, things get more expensive. But did you know that the types of goods and services used by the elderly are affected more by inflation than the goods and services used by younger people? That means inflation is going to pack a bigger wallop to your retirement savings than you expect to face in your golden years. As a matter of fact, seniors say that the most surprising thing they’ve discovered once in their retirement years is how much everything costs. When they started saving for retirement years ago, they knew that groceries, gas, healthcare and other expenses would […]


4 Financial Tips for College Graduates to Ensure a Strong Financial Future

4 Financial Tips for College Graduates

If you’re among the many recent college graduates, you’re likely thinking about your future. You may even have a pretty impressive list of things you plan to do, like buying a car, taking a fabulous trip abroad or buying your first house. Your list may include dozens of adventures and treats, as reward for excelling in school and now being done. While rewards may certainly be in order, one of the best things you can do is make the decision to set a strong financial foundation beneath you, a solid place from which to build a successful life. Here are 4 financial tips for college graduates that can make a huge difference in your financial future. Time is your friend […]


Pros and Cons of Long Term Care Insurance

Pros and Cons of Long Term Care Insurance

Long term care insurance is a particularly important type of insurance. This type of policy is meant to provide for your personal care and wellness when you reach an age or health condition where you need assistance with the basic functions of living.


Comprehensive Financial Planning Defined

Comprehensive Financial Planning

It would seem that the phrase ‘Comprehensive Financial Planning’ is quite clear and easy to understand, but it’s fascinating to hear the different definitions I get when I ask people what they think comprehensive financial planning is. Answers range from managing investments only to including tax planning and maybe retirement planning.


The New Retirement = The New Normal

The New Retirement = The New Normal

We’re in an era of The New Retirement, which is a mindset and a necessity, considering the unique factors that face present and future retirement outlooks. It wasn’t that long ago when people worked until age 60, then retired and collected a pension. But the dynamic has changed tremendously in the past 15 years.