First Victory for the Fiduciary Rule

An early victory was scored for consumers last week when a federal court refused to place on hold the U.S. Labor Department’s “Fiduciary Rule.” The rule, which will take effect next April, requires anyone giving advice on retirement accounts always to act in the best interests of their clients. The ruling involved a case filed […]

How Financial Advice Helps People Get Ahead

Eighty-six percent of Americans who get advice take positive steps toward improving their financial well-being, according to a new survey by TIAA-CREF. More than half change their spending habits, increase the amount they save each month and even establish an emergency fund. What’s more, two-thirds of those who get advice say they feel optimistic about […]

www.ChicagoFeeOnlyFinancial.com

We are happy to announce the launch of a new website focusing on Fee-Only financial planning in the Chicago area. In cooperation with seven other advisors, John Davis and Dan Carey hope to make it easier for consumers to get objective advice about managing their personal finances. We are committed to providing these services to […]

A Modern Approach to Wealth Management

Note: The following appeared in an advertisement from Charles Schwab, our custodian of choice. We thought it perfectly conveyed our approach and, with some minor editing, wanted to share it with you. We see it all around us. People engaging, asking tough questions, demanding quality, value and accountability. People taking ownership of their lives. It’s […]

Why rolling over 401(k) funds is usually a smart move

Like divorcees who just can’t let go, tens of thousands of people leave their jobs each year without taking their 401(k) balances with them. Job-switchers and retirees leave an estimated $40 billion each year in former employers’ retirement plans. For most of them, it’s not because they’ve carefully considered the costs and benefits of their […]

Don’t Let Small Numbers Distract You From the Big Picture

Even though it’s all about dollars and cents, the financial industry runs on percentages; dollar signs are few and far between. The use of percentages is an understandable, and helpful, convention when communicating financial information. After all, a headline saying “Company A’s Net Jumps by 16%” is more helpful than one that reads “Company A’s […]

Paying yourself first can work like magic

How “paying themselves first” has resulted in the attainment of financial goals, personal fulfillment and accumulation of wealth. During the 14 years that Mentor Capital has been in business, we have helped hundreds of people successfully save toward their financial goals. Whether it has been buying a new car or sending a child […]

What is a “Financial Advisor”?

Many people call themselves “financial advisors,” but there can be significant differences among them. No education, experience, or testing requirements are needed to call oneself a financial advisor. Whether you are getting advice from a financial planner, wealth manager, stockbroker, insurance broker, accountant, or other type of advisor, here are several questions that you should […]

Toward financial peace of mind

Most people go through life thinking little about their personal finances. They close their eyes, move ahead and hope for the best. Whether they succeed depends largely on luck. For people who don’t want to pin their hopes for financial success on luck, we have the answer. It’s called comprehensive financial planning, and it works. […]

13 Financial boo-boos and how to avoid them

Life is just as much avoiding mistakes as it is making sound decisions, and it’s no different where personal finance is concerned. We have choices to make (sometimes a dizzying number!), and we must do our best to make the right ones. Here are some financial boo-boos to avoid: Boo-boo #1 – Thinking that you can’t […]

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