West Loop Financial LLCCNBC – West Loop Financial LLC

What you can—and can’t—learn from a tax return

westloop — Mon, 07 Nov 2016 09:00:55 +0000

Donald Trump said in the first presidential debate that not much could be learned from his tax returns. Financial advisor Tim Maurer sets the story straight, explaining exactly what…

Read the rest of the article on CNBC.

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3 steps to avoid running out of money in retirement

westloop — Mon, 04 Apr 2016 09:00:10 +0000

The majority of Americans don’t think they are saving enough and are worried their savings won’t last as long as they do.

Only 31 percent of workers who participate in an employer-sponsored retirement plan, such as a 401(k), 403(b) or 457, are “extremely confident” or “very confident” that they will not outlive their money — and the rest aren’t so sure, according to a new survey by BlackRock.

Read the rest of the article on CNBC.

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With market volatility, do you stay invested or move to cash?

westloop — Mon, 29 Feb 2016 09:00:55 +0000

In the market these days, it seems what goes up must come down — and then go up and then down again. On Wednesday, the Dow Jones industrial average opened 100 points higher, but then fell by more than 150 points before again trying for gains in midday trading. The Nasdaq and S&P 500 weren’t doing any better.

Does all this recent volatility worry you? Me, too. It’s inevitable. Apparently, it’s how we’re wired. But a better understanding of that wiring can give us a clear decision-making framework to help us know if and when to get out of the market.

Read the rest of the article on CNBC.

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Investors: Keep your itchy finger off the trigger

westloop — Mon, 08 Feb 2016 09:00:22 +0000

How about that 550-point intraday dive last week in the Dow! Did that finally get you to sell?

Or was it one of the many headlines about the trillions of dollars that have been wiped out of the stock market in the worst start for the Dow in history — since 1897! And worst start for the S&P 500 since the Great Depression began in 1929.

Oh, c’mon, that was “so last Wednesday.”

Read the rest of the article on CNBC.

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Save Social Security for later, when you need it most

westloop — Mon, 11 Jan 2016 09:00:49 +0000

I think we’ve been looking at Social Security retirement benefits all wrong. In the long-running debate about when to take Social Security — as early as age 62 or as late as age 70 — the focus has been on timing your claim to get the most money, in total, out of the social safety net.

This is a circular argument that will never be fully decided until the Social Security recipient in question dies. So let’s shift the focus from the question “How do we get the most out of Social Security?” to “How do we get Social Security when we need it most?”

Read the rest of the article on CNBC.

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Make joy-based budgeting a New Year’s resolution

westloop — Mon, 28 Dec 2015 09:00:51 +0000

Do your New Year’s resolutions for 2016 include crafting a workable budget that you’ll actually want to stick to? Are you stumped about how to make it happen? One answer is an approach that financial advisor Manisha Thakor, director of wealth strategies for women at Buckingham and The BAM Alliance, calls “joy-based budgeting.”

First, estimate your household income — after taxes — for the year ahead. Then, apply what Thakor refers to as the “50/30/20 rule” to that amount.

Read the rest of the article on CNBC.

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How to find a financial advisor

westloop — Mon, 26 Oct 2015 09:00:08 +0000

Looking to avail yourself of a financial advisor’s services but stumped as to how to pick one?

Who better to tell you what to look for than a financial advisor himself?

“I believe there are four minimum requirements for anyone you’re considering working with,” said Tim Maurer, certified financial planner and director of personal finance at Buckingham and The BAM Alliance.

Read the rest of the article on CNBC.

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Is your financial advisor really putting you before profit?

westloop — Mon, 12 Oct 2015 09:00:45 +0000

How financial advisors are compensated doesn’t determine their character, but it does influence their behavior.

As the debate over regulatory standards of conduct for financial advisors plays out in Washington, the issue for investors boils down to how their advisors are paid and how well the arrangement aligns the interests of the advisor with their own.

Read the rest of the article on CNBC.

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Steps to find a financial advisor

westloop — Mon, 12 Oct 2015 09:00:45 +0000

Tim Maurer, director of personal finance for Buckingham and The BAM Alliance, discusses the four key criteria consumers should use to select the most qualified financial advisor for…

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Market volatility’s silver lining for retirement investors

westloop — Mon, 07 Sep 2015 09:00:34 +0000

Despite Wednesday’s recovery from steep losses earlier in the week, the major U.S. stock averages are on track for their biggest monthly percentage losses in five years or more. That means your retirement portfolio, your 401(k)s and IRAs, may have lost value as well.

But there may be a silver lining to this market slide. For retirement investors, this could be a great time to convert a traditional IRA to a Roth IRA. A Roth account provides tax-free growth and allows you to withdraw earnings tax-free after age 59½, as long as you’ve held any Roth IRA for at least five years.

Read the rest of the article on CNBC.

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