Details Are Part of Our Difference
Embracing the Evidence at Anheuser-Busch – Mid 1980s
529 Best Practices
David Booth on How to Choose an Advisor
The One Minute Audio Clip You Need to Hear
Category: Education
Three Musicians and a Shoe Guy Walk Into a Bar…
What do Britney Spears, Michael Jackson, Prince, and Tony Hsieh (Zappos!) all have in common? And no – this is not the start of a bad joke.
Each of these individuals caught our attention recently for the headlines they (or their estates) made. While we usually encourage you to “tune out the noise” and “ignore the talking heads,” sometimes celebrity gossip headlines contain valuable lessons…usually of what not to do.
The combined estates of Spears, Jackson, Prince, and Hsieh are worth nearly $2 billion. An amazing sum! Yet all of this money is trapped in battles (legal or otherwise) to distribute or manage assets. Our crew of celebs could have avoided this pain. Unfortunately, when a clear plan is not in place, unwinding disputed estates can involve paying lots of pernicious fees. A reliable team of fiduciary advisors and a solid, up-to-date plan can minimize disputes, ease the process, and reduce unnecessary costs to the estate.
If my goal is to preserve assets for my beneficiaries or charitable causes, instead of getting stuck in a prolonged legal battle, what should I do?
It’s dramatically easier, less expensive, and simpler to pay your advisory team in advance rather than have them clean up the mess afterward.
That’s why Hill gets involved, sooner rather than later, in estate planning with our clients. Whether you’re just starting or need a comprehensive review and update of an existing plan, set up a call or meeting with us – click here. Your future self, and your kids, will thank you.
Fiduciary or Broker? The Glaring (and costly) Difference.
Sometimes you can’t shake a story because it keeps getting replayed in different forms. You might remember a piece in the NYT written a couple of years ago about a woman who stumbled upon gross misuse of her parent’s retirement money. Her parents’ brokers were mishandling the money for years, to their benefit – one stock had even been sold eight times in the same day, racking up enormous trading fees. It sounds shocking, but unfortunately, it’s an old story that bears repeating. Why? Sometimes we need reminding – employing a fiduciary advisor matters. “Fiduciary” means your advisor is legally bound to work in your best interest. Ask if your broker, or your parent’s broker, is held to this standard. Do you have a fiduciary advisor like Hill Investment Group?
Who Outperforms?
Still stuck trying to outguess the market? Deciding what to buy, when to get in, and when to get out can get expensive quickly. It’s also a losing game for the regular investor. But, what about the pros? Are they consistently outperforming?
Every year, Dimensional compares the long-term performance of US-based mutual funds. This 2-min video breaks down the results. It turns out fewer professional fund managers outperform their benchmark than would be expected through luck alone. The takeaway: Being a better market guru than the gal next to you is not a way to reliably, repeatably win.
