Barrett's 2 Cents

No-filter financial advice for alpha boomers

Author: Barrett Porter (page 1 of 8)

The Great Vacation Home Debate

There’s exactly one situation where I love vacation homes – when good friends own them. Vacation homes are a lot like kids – you will spend lots of time with them, you won’t regret having them (on most days), and you will drastically underestimate the costs and energy that will be involved.  We all know how much we typically spend per night for a luxury vacation rental or hotel room.  So before you buy that 2nd home, perhaps you’d like to know what your equivalent “nightly rate” might be.

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All In or Bust

nmoeUdsSo much for beginner’s luck… Less than an hour into my first-ever game of Texas Hold’em I was told that I had no choice but to go “all in” with the last of my poker chips. (The all-in moment is where you put what’s left of your chips into the pot and hope for a winning hand that will keep you alive.) Investors have a choice when it comes to being “all in,” though it’s often not an easy choice to make.

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The Volatile-Income Saver

squirrel nutsEver heard the story of the guy who burned through an entire fortune worth $150 million and still has debts to pay?  If only Cher could have delivered a 2nd smack on the cheek of Nicolas Cage and another “snap out of it!” maybe things would be different. One thing that’s certain with those who work in “the biz” is the lack of certainty around earning and saving. Volatile- income professionals (VIPs) of all types often share feelings of scarcity even in the midst of their big-income years.  For you VIPs out there, here are a few ideas.

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The Pre-Retiree Portfolio Tune-Up

handy manIf you’re a baby boomer who is about to shift from being a saver to a spender, you have at least one thing on your mind: “Is this market rally going to turn into a market correction the day after I slice into my retirement cake?” It’s the perfect storm for retirees. So am I saying a recession is coming? I have no idea, and it’s nothing you can control or predict. But there are a few things that are in your control and should be addressed before a recession, not during one.

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Donate Now, Give Later

3 coin pilesBaby boomers who are in the final decade of their high-income years might want to stop using their credit cards and checkbook to give to charity. There’s a better way to be generous and reduce your taxes at the same time – the donor advised fund (DAF).

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