Last week stock markets were in rally mode as the $2 Trillion stimulus bill was passed, and President Trump indicated that some businesses could be up and running by Easter. Trading in the stock markets last week took the stance as if the War against the coronavirus will soon be over. How do we know? Below are a few of … Read More
5 Options on How to Handle A Bonus
So, you just received your company bonus check. Now, what should you do with it? Before you go out and spend it on something that you might regret, have you had a chance to review your wealth planning pie? Your wealth planning pie consists of all your wealth planning priorities, purposes, and objectives. No matter if you have $1,000 or … Read More
Understanding Risk; Four Ways to Help Your Wealth Management Plan
There are typically three risk profiles that investors are assigned to within the financial services industry, which are conservative, moderate, and aggressive. These categories are usually defined by an investor; These components help to make up what is called your investment risk profile. However, your risk profile may be very different from your risk perception. While your risk profile may … Read More
Four Ways to Protect Yourself from Ponzi Schemes
I had a friend text me this story about Kevin Garnett, a high-profile athlete or entertainer who has come out on the wrong end of some horrible financial advice (see here and here). Within the text, my friend asked, “How does this happen to people?” My response, as long as there are people with money (large or small), there will … Read More
3 Tactics to Help Simplify Wealth Planning
The best wealth management plan has nothing to do with “outside forces” beyond your control, but rather everything to do with what’s most important to you. Instead of feeling overwhelmed by the supposed complexity surrounding financial decisions, a straightforward wealth management plan can bring clarity and peace of mind about which strategies will work best for your situation. What, How, … Read More
Celebrity Calls Out Mother of Triplets
Recently my wife Theresa had an encounter with a celebrity who is the new brand ambassador of a specific company. I am not allowed to disclose the celebrity nor the company! During an event, the celebrity (let’s call her Anna) asked in a crowded room of mostly males, “where are my mom’s at?” At which point Anna identified the mother … Read More
The Paradox of Choice
Have you ever thought that having too many choices is a problem? These days most of society is wired to believe that more choices = better decisions. That the freedom of choice leads to happier lives. In his article How To Find Happiness In Today’s Hectic World, Eric at Barking Up the Wrong Tree, draws on a conversation with Barry Schwartz, a … Read More
Understanding Benchmarks; What Should They Mean?
When I look at what I do for clients at TAMMA, I can break it down into two distinct categories; wealth planning and asset management, and tax preparation. One of the value propositions that I offer to clients is to have their wealth planning integrated with their asset management. In my mind, you can’t or shouldn’t have one without the … Read More
The New Definition of Family Office
When you hear the term Family Office, what is the first thing that you think about? Do you think of it in financial terminology or maybe related to the medical field? Within the financial industry, the term Family Office typically meant an advisory firm that serves ultra-high-net-worth investors. I am here to help change that definition. I have always believed … Read More
How Life is Like a Sleeping Bear Sand Dune
We recently took our family vacation in northern Michigan. One of our favorite spots is the Sleeping Bear Sand Dunes. The dunes, which are now apart of the National Park Service is one of our great national treasures which everyone should check out if you are in the State of Michigan. This was the second time that I had been … Read More
