Our Thoughts

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What’s Your Long-Term Care Plan?

Posted by on Tuesday, October 20th, 2020 in Monthly Insights, Personal Finance, Retirement, Wealth Management | 0 comments

What’s Your Long-Term Care Plan?

By Lee Sherbakoff, CPA/PFS, CFP®, RICP® There are a lot of things you don’t want to gamble with in life, like your retirement savings, how you raise your kids, or your health. Unfortunately, many Americans take one particular risk with their health, possibly without even realizing it, and that’s neglecting to make a long-term care plan. (1) Since 70% of people will need some form of long-term care during their lifetimes, it’s critical to have a plan to pay for these costs. (2) When you are healthy and thriving, it’s easy to focus solely on...

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October Monthly Insight — Think Slow

Posted by on Thursday, October 1st, 2020 in Monthly Insights, Personal Finance | 0 comments

“All you need is the plan, the road map, and the courage to press on to your destination.” — Earl Nightingalea, American radio speaker & author Heuristics are mental shortcuts, derived from previous experiences, that let us make decisions quickly and efficiently. They may have literally saved humankind from extinction.  If our ancestors were in danger, heuristics let them quickly decide between fight, flight, or freeze. Pick the right option, and you live to fight another day.  Heuristic decision-making is...

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The 3 Biggest Financial Mistakes I See

Posted by on Saturday, September 12th, 2020 in Investing, Personal Finance, Wealth Management | 0 comments

The 3 Biggest Financial Mistakes I See

By Lee Sherbakoff, CPA/PFS, CFP®, RICP® As a financial advisor, one of my responsibilities is to help prevent my clients from making financial mistakes that could derail their retirement plans. Every client’s situation is unique, but having worked in this industry for many years, I’ve come to see three common mistakes most pre- and post-retirees make.  I want to share these common mistakes with you today, so you can protect your wealth and live the life you want in retirement. Mistake 1: Not Planning For Unexpected Risks There are all...

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September 2020 Monthly Insight — A Lack of Foreknowledge

Posted by on Tuesday, September 1st, 2020 in Monthly Insights | 0 comments

September 2020 Monthly Insight — A Lack of Foreknowledge

“We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.” –Alan Greenspan, Former Chair of the Federal Reserve of the United States “Weather forecast for tonight: dark.” –George Carlin, American comedian Imagine yourself at the beginning of the year. You have knowledge that within weeks a novel virus will emerge that will shut down much of the global economy. Businesses will close, sporting events will be canceled, your daily routine will be altered, travel plans will be derailed,...

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Examining The Roth IRA

Posted by on Tuesday, August 25th, 2020 in Personal Finance, Retirement, Tax Planning | 0 comments

Examining The Roth IRA From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC Dear Friends, There are many vehicles to choose from as you travel the road to retirement. One of the more advantageous means you may utilize to build a nest egg is the Roth IRA. A Roth IRA is an Individual Retirement Account that allows you to contribute after-tax dollars into a savings or brokerage account. With a Roth IRA, you get no up-front tax deduction, as you do with a traditional IRA, 401(k) retirement plan, or other tax-deferred account. However: You pay no...

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