5 Things You Should Discuss During Your First Meeting With a Financial Advisor
5 Things You Should Discuss During Your First Meeting With a Financial Advisor
Gabrielle Olya Mon, March 20, 2023
A financial advisor can be an excellent resource to help you make a plan for your money both now and in the future. But if you’re new to this world, you might not know how to make the most of your time during an initial meeting. In today’s “Financially Savvy Female” column, we’re chatting with Jane Voorhees, CFP, director of financial planning at ALINE Wealth, about how to prepare for a first meeting with a financial advisor and what topics you should be discussing.
Get Ready for the Distressed Equity Bonanza
Get Ready for the Distressed Equity Bonanza
March 20, 2023 Simon Black, Founder Sovereign Research & Advisory
This isn’t over yet. Last week after Silicon Valley Bank went poof in a matter of hours, I wrote that this financial catastrophe is just getting started:
“Like Lehman Brothers in 2008, SVB is just the tip of the iceberg. . .”
Within days, several other banks were on the verge of collapse. And now today, of course, major banks in the United States (including JP Morgan) are rallying to save the troubled First Republic Bank.
6 Reasons To Spread Your Money Around Multiple Banks
6 Reasons To Spread Your Money Around Multiple Banks
Andrew Lisa Mon, March 20, 2023
Although you should always look for ways to declutter your financial life, it sometimes makes sense to have accounts scattered across more than one bank.
The following is a look at situations where you’d be wise to divide your money among two or more financial institutions simultaneously. If any of these scenarios apply to you, consider spreading your money around, even if it means keeping track of another routing number.
More Money Doesn’t Make You Better at Managing Your Finances
More Money Doesn’t Make You Better at Managing Your Finances
Posted March 17, 2023 by Ben Carlson
There were a lot of surprising details that came to light from the Silicon Valley Bank fiasco.
It was surprising how quickly a bank run took hold for such a large institution.
It was surprising how quickly the bank’s customers fled one of their most trusted partners.
It was surprising how seemingly little oversight this now systemically important bank had.
Banks in Distress: What You Need to Know About the Safety of Your Money
Banks in Distress: What You Need to Know About the Safety of Your Money
Patrick Villanova, CEPF® Fri, March 17, 2023 SmartAsset
In less than a week, the U.S. banking system has suffered two of the largest collapses in American history. Regulators shut down Silicon Valley Bank on Friday after customers rushed to withdraw their money as fears rose about the bank's liquidity. Two days later, regulators shuttered Signature Bank following a similar run on deposits. (Disclosure: SmartAsset, the publisher of this article, has a customer relationship with Silicon Valley Bank.)
To prevent more bank runs, federal regulators quickly moved to insure all deposits at both banks – even accounts that exceeded the Federal Deposit Insurance Corporation's insurance limit of $250,000.
Silicon Valley Bank's Collapse Proves The US Is In Obvious Decline
Silicon Valley Bank's Collapse Proves The US Is In Obvious Decline
March 17, 2023 Simon Black, Founder Sovereign Research & Advisory
Throughout history, whenever there has been a major shift in the world, it has usually been accompanied by a single iconic event that is associated with that change. For example, historians often point to 476 AD as the year that the Western Roman Empire fell, when Odoacer and his barbarians forced the abdication of the Emperor Romulus Augustus— even though it was obvious that Rome was in decline way before 476.
People also often associate the start of the Great Depression with the stock market crash of 1929 (even though there were many signs of economic distress well in advance of that).
Is My Money Safe?
Is My Money Safe?
Posted March 16, 2023 by Ben Carlson
A reader asks: If a brokerage fails, what happens to a customer’s holdings there?
Another reader asks: My wife and I have the bulk of our investments (401k & trading) in basically 2 accounts. Is this a dumb practice? Should we be more ‘diversified’ with our institutions? We’ve been discussing this for a while, and then with SVB, it’s definitely brought the discussion back to the kitchen table. Understood that FDIC insures up to $250k, but once you get north of that, any best practices for what to do?
The Federal Reserve Just Hijacked American Democracy
The Federal Reserve Just Hijacked American Democracy
March 16, 2023 Simon Black, Founder Sovereign Research & Advisory
You know the old joke-- “Predictions are hard… especially about the future.” And it’s true, nobody has a crystal ball. But it’s astonishing to see just how horribly wrong the people in charge can be in their predictions, especially about the very near future.
You probably remember Joe Biden famously insisted in the summer of 2021 that the Taliban was “highly unlikely” to take over Afghanistan.
Scientists Explain How Intelligence Is Linked To Wealth
Scientists Explain How Intelligence Is Linked To Wealth
Today 22:55 Information / Baghdad... Some time ago, Sweden had an army formed by conscripts and before enrolling in the army, Swedish conscripts had to pass mathematical IQ tests. Thus, the data of 59,387 men in the 70s and 80s of the last century appeared in the hands of scientists.
The researchers then obtained data from the Swedish Tax Office on the average annual salary of these men between the ages of 35 and 45 when they were in most professional jobs. Scientists compared this data with that.
A strange picture turned out: up until a certain point, higher intelligence was directly linked to higher earnings.
8 Questions on the Banking Panic of 2023
8 Questions on the Banking Panic of 2023
Posted March 14, 2023 by Ben Carlson
On last week’s Animal Spirits we asked why the Fed’s aggressive rate cuts had yet to break anything in the economy:
Sure, the housing market is basically broken, but everything else has held up relatively well…until last week that is. We recorded our show on Tuesday. By the weekend we would see the 2nd and 3rd largest bank failures in U.S. history, including the biggest bank run we’ve ever seen.
I have lots of questions:
The 4 Most Important Pieces of Advice This Financial Advisor Gave to His 3 Daughters
The 4 Most Important Pieces of Advice This Financial Advisor Gave to His 3 Daughters
Gabrielle Olya Mon, February 28, 2022,
In today’s “Financially Savvy Female” column, we chat with Urban Adams, an investment advisor at Dynamic Wealth Advisors and the father of three young adult daughters. Here, he shares the financial lessons he taught them, his advice for other parents who want to raise financially savvy females and how being the father of daughters affected how he advises others in his practice.