In the June 2010 issue of Hour Magazine, I was named one of the top wealth managers in the Detroit area. You might think that I would feel honored by the recognition, but I find it a little troubling that these types of lists carry so much weight with consumers. It’s natural to want to work with the “best of” any profession. Even so, I believe if you are serious about hiring someone to help with your financial life, you should do more than select from a simple list…

Like an episode of the well-watched daytime soap operas, the stock market has been full of drama lately. On May 6th between 2:00 and 3:00 p.m. EST, the Dow Jones stock market average plunged nearly 1,000 points. If you didn’t watch the evening news that day, you might not have even known about it. You won’t see it reflected on your month-end financial statements, because by now the loss has already been largely recovered. Earlier in the day with regard to its pote…

Shortly after writing Taking Aim at Target Funds, I was contacted by Jane Hodges, who was writing a story for the Wall Street Journal. Jane was looking for funds that a new investor should consider for a fledgling portfolio. Naturally, I suggested target-date index funds. How can you beat an investment that is low-cost, extremely diversified, and easy to purchase and maintain? Her article Advice for the New Grad and the accompanying podcast appeared…

Before accepting recommendations from anyone concerning your financial future, there is one thing you should always remember - everyone has an agenda. Their agenda could support your objectives, or it could also be hazardous to your financial health. To protect yourself, you need to keep your eyes wide open. In politics, the letter (R) or (D) after a representative’s name pretty-well denotes their agenda. The media is sometimes accused of displaying biases, but I…

In today’s market, it seems that target-date funds and other lifecycle funds have a bull’s eye on them. Many financial commentators have taken aim at these investments claiming that they have failed investors. I think it’s the critics who have missed the mark. Target-date funds, which fall under the general category of ‘Lifecycle’ funds, are one of the great innovations in financial products for average investors. They are also called ‘funds of funds’ or ‘all-in-o…