Financial Information

I’m always amused by people who will spend a lot of time and effort becoming educated on topics such as the best type of big screen TV to buy, yet completely ignore their financial education and are surprised if their retirement savings don’t work out as they thought they should.

Sometimes the excuse is that they don’t understand, and they simply rely on their investment advisor to take care of their savings for them. Certainly if you go to Ken Himmler (www.kenhimmler.com) for his services or use Integrated Asset Management (www.iamllc.biz) for your portfolio you have every reason to believe that your money will be put in the best investments.

That shouldn’t mean that you do not take an interest in your money, and study the options that are available – far from it. It is the most critical aspect of your retirement planning and you need to understand what is being talked about when you discuss investment advice.

Everyone is different in terms of their expectations for their money, and how they feel about risk, and generally for the higher returns you need to take a higher risk, which means that your investment is more likely to fluctuate and might not perform as well as you hope.

The best advisors will take time with you and learn what your personal financial goals and risk profile are, so they can suggest a portfolio to suit you. There is no “one size fits all” solution, and your investments should reflect your personality. The best investments for one person may be wrong for another.

Generally you will be advised to have diversified investments, as no-one can guarantee any particular performance. So that you can understand what is involved with each type of fund or security, there are many sources of free investment research which you can check online. For instance, you can look up mutual fund performance on www.morningstar.com. It’s your money, and you owe it to yourself to get a basic investment education so that you can be sure your investments match your aspirations.

Authored by Kenneth Himmler, Sr.

I mentioned last time the need to organize your assets in ways that protect and preserve all that you have worked so hard for. I am not concerned so much this time about your investment options and how to find the best investments for maximum growth and safety, but with the way in which you hold them during your life, and how they may be passed on to your heirs.

There are several facets to consider. For instance, in this litigious society, you will want to make sure that a lawsuit will not separate you from your accounts and/or home and real estate investment. In some countries, the legal system discourages frivolous law suits by requiring the losing party to pay all fees, but in the USA unless you specifically take action you will not find your legal costs are covered even when you win. You will also want to be sure that you have a tax efficient investment plan to minimize your outgoings to the IRS.

Aside from opportunist attacks on your estate, you may also find that you are on the receiving end of a justifiable claim, for instance if you are involved in a fatal motor accident. If your insurance does not cover the full amount claimed, then your assets may be seized. With a major claim, it is not unknown for insurance to fall short of the amount required, and it should never be relied upon to cover all situations.

There are several different options that are claimed to cover your liabilities and protect your possessions. The fact is that asset protection is an evolving practice, and what may have been regarded as the best advice five years ago may fall short nowadays. It is essential to talk to an advisor who can give investment advice and has an appreciation of all the factors that need to be born in mind, such as Ken Himmler at www.KenHimmler.com.

It is not always necessary to use offshore accounts or foreign trusts, but they have their place, just as domestic trusts, corporations and limited partnerships do, in your investment strategy. One tactic of asset protection is to effectively relinquish control of your assets, so that you cannot be commanded by a court to surrender them, whilst retaining the benefits of their use. The experts at www.IAMLLC.biz, Integrated Asset Management, will discuss with you the choices you can make.

Authored by Ken Himmler, Sr.