Weekly Notables

from the Desk of Brian Bickett, CFP®

for the Week of October 16, 2019

Living YOUR Life…

I recently stumbled into this TEDx Talk titled “Why is Everyone So Fat, Broke and Busy?” .   It wasn’t until the end that I realized that it was recorded in 2010.  Here I was 9 years later nodding in agreement based on my experiences attempting to change my own behaviors.  The Talk explained why the human mind will not allow you to be miserable for extended periods of time based only on the promise of being happier later.  The mind requires some (almost any) type of fulfillment in the present in order to continue any given behavior.

Shortly after the Tedx Talk, I found this article “Why We Ditched the FIRE Movement and Couldn’t Be Happier”.  It details the journey of a couple from being on the verge of taking on significant debt to extreme frugality to a balanced life, enjoying today while planning for tomorrow.  

I am confident there is a message in those two for me and maybe there is one in there for one or two of you as well.

Enjoy the ride of YOUR life!

— Brian

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Brian can help you develop a roadmap to get you from where you are to where you want to go — and then put it in action, making your money work for you to avoid behavioral mistakes.

The Long Term Investment Benefits of HSA’s

(Philip Van Doorn, MarketWatch) – This investment article explores how a Health Savings Account (HSA) can save you taxes immediately, in many ways like a Flexible Savings Account.  The benefits of the Health Savings Account over a Flexible Savings account include a higher contribution limit, the ability to carry-over unused funds from year to year, and the opportunity to invest those carry-over funds for the long term.  The article then walks thru the questions you should be asking to determine if a Health Savings Account might be good fit for you.

How Eliminating Trading Fees should be a boon for the ETF Business

(Andrea Riquier, MarketWatch) – This week’s second investing article explores one of the expected side effects of the recent brokerage fee wars where the major custodians Schwab, Fidelity, TD Ameritrade and Interactive Brokers all eliminated commissions on stock, exchange-traded funds (ETF) and option trades.  BlackRock executives point to the zero commission trades as yet another reason that investors are expected to increasingly utilize ETF’s.  

The High Cost of Long-Term Care Insurance and What to Use Instead

(Maryalene Laponsie, U.S.News) – This personal finance article explores the many factors that are driving the increasing rates for long-term care insurance.  It goes into how the insurance company initially under-priced plans issued in the 1990s and early 2000s based on faulty assumptions.  The article then details 10 alternative ways to pay for long-term care.  

Where’s Brian?

Preparing for the Open Enrollment period…

Additional Articles You May Find Interesting

Presidential Election, Volatility, and the Long View

Presidential Election, Volatility, and the Long View

Article written by Brian Bickett The presidential election is looming next week and, considering the many surprises 2020 has already brought us, the outcome of the election is shrouded with uncertainty, speculation, and angst.  Beyond how the election winner will...

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CARES Act – Returning unwanted 2020 RMDs

CARES Act – Returning unwanted 2020 RMDs

Article written by Brian Bickett   One of the key provisions of the CARES Act, the coronavirus relief act that took effect this spring, permitted retirement account holders to bypass required minimum distributions (RMDs) for 2020. RMDs are the annual withdrawals...

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Summary of the 2020 Social Security Trustees’ Report

Summary of the 2020 Social Security Trustees’ Report

The Social Security Board of Trustees released their annual report at the end of April once again this year.  The report for 2019 spans 276 pages that go into detail about the current financial status, future assumptions, and projections.  Once again…

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Brian Bickett, CFP at Iron Mountain Financial Planning, LLC

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