Summit Guides

The 16 Truths About Investing For Powerful Performance And Long-term Success
Many people hold false ideas or myths about investing. Some even believe in a “magic formula” that can avoid risk and provide a high return, or that a conspiracy drives the market and fudges prices, or that investing is a way to get rich. At the same time, there are a lot of true things about investing that many people don’t know or don’t believe. Here are the truths…

The Ten Myths That Cause Investors To Fail
Investing is a reality-based, evidence-based activity – or it should be. Unfortunately, for all too many investors, reality and evidence are circumvented by false ideas that prevent understanding and sound investment decision-making. Ten myths in particular hamper the investor and need to be recognized for the false ideas that they are. Avoid these ten fables and you will have a good start on the road to sound, scientific investment choices. Here are the myths…

The Seven Factor™ System
Too many in the financial media suggest that investing is an “art.” They encourage investors to seek help from “special” individuals who have unique talents in the “art” of “beating the markets.”

Reforming A Tone Deaf Industry (Barrons)
There isn’t a lot of love out there for financial-services firms. For the past five years, diversified financial companies have ranked dead last in the Reputation Institute’s annual consumer survey of industry reputations–scoring even lower than the widely despised cable companies.

When Judging Financial Advisers, Look Beyond the Annual Return
ANY day now, financial advisers will start sending clients their annual reviews and outlooks along with year-end account statements. Both will probably look pretty good.

9-minute Lesson on Life Insurance.
INSURANCE IS A VERY SIMPLE PRODUCT. Yet, many people don’t understand how it works and some make it complicated. Let’s keep it simple. There are only two things that go into insurance; 1) the premium and; 2) the interest on the premium. And only two things come out of insurance; 1) the death benefit and; 2) the expenses associated with it.

Overview of Alternative Risk Transfer
Our CPAs are doing what we pay them to do. Our attorneys are doing what we pay them to do. Our stock-brokers and insurance agents are doing what we pay them to do. Yet few of these professionals communicate on a regular basis with the others. And they are under the same myths and misconception that the other professional knows about or is handling the issue that leads to losses.

Avoiding Medicare 3.8% Tax
How do we minimize the Medicare 3.8% Tax? That is a question that many experts in our industry are trying to find an answer.

The market is your friend. Really: a millennial’s advice to peers
Our Columnist Writes an Open Letter to His Generation of Investors

Process vs. Product: Keeping Priorities in Order
The beginning of a new year is typically marked with intentions to “do better” in some form or another. Whether we’re trying to eat less, exercise more, improve in our stress management, or enhance skill, we must first examine the fundamentals of the task and build from that foundation.

How To Avoid An “Affluenza” Outbreak: Preparing Heirs for a Wealth Transition
Our advisors commonly assist in legacy planning, that is, the coordinated distribution of client or family wealth, to occur at the end of one’s life. While some seek to give all remaining wealth to their children, grandchildren, or other family members, others hope to give to their favorite charity or charities, and some simply wish to spend it all and “come in on fumes.”

The Gift That Keeps on Diminishing
The Gift That Keeps on Diminishing By Jason Print, Certified Financial Planner FP®, Senior Wealth Advisor

Looking for a nice Christmas gift for that special someone? How about making them a trillionaire?

In The Games of Golf, Life, and Wealth: Rely Upon the Fundamentals
Anyone who plays golf knows that there have been many innovations to the game over the past twenty to thirty years. Everything from new clubs and balls, better manicured courses, and swing or putting coaches, to high speed cameras, learning academies, club fittings, and more. In light of all these advancements, for the most part, handicaps and scores have not improved.

Mapping the Basics
An increasing number of women are taking the lead in financial affairs – whether for themselves, their families, or in response to an unfortunate loss of spouse. A couple critical questions should be asked (and no, not just by women): “What does retirement mean to me?” And, “how do I determine if I am getting the right advice (and complete advice)?”

The Myth of American Decline

Make the Most of Your Charitable Gifts
Charitable giving is important to many of us—but it’s more complicated than you may think. Therefore, in order to maximize the impact of your giving, it’s important to have a plan. As the immortal Yogi Berra put it, “if you don’t know where you’re going you’ll never get there.”

Hedge Hogging (Or: A New Way to Lose Money)
According to the Wall Street Journal, there’s a new wave, a multi-trillion dollar wave, that’s going to wash over the “long only” asset management industry. “Long only” is what we commonly refer to as a mutual fund. Traditionally, mutual funds purchase a stock and expect to hold it for the long term.

Myths and Truth – Fees and Costs Matter
If what you thought to be true turned out not to be true, when would you want to know that? Would it disturb you to discover that you probably are (unknowingly and unnecessarily) paying more than 6% in your investments each and every year (which is almost like betting against one of the most powerful forces in the universe — the power of compounding)? Before inflation? Before paying advisory fees?

Forget Survival – Let’s Thrive
Is this the worst of times? Is this the worst economy we’ve had since the Great Depression? Those of us of a certain age remember the 70s when we had oil rationing, lining up for gasoline, double-digit inflation, double-digit interest rates, double-digit unemployment, a constitutional crisis, 52 American’s held hostage by the Revolutionary Guard in Iran, and the failed rescue attempts.

5 Costly and Avoidable Business Mistakes
Starting your own business is hard enough; don’t compound the difficulty by making costly mistakes in the set up of your business. While there are many places for a new business owner to misstep, by avoiding the following you will be ahead of the game. Even if it costs a little upfront money in legal advice, anyone who has had to deal with the fallout of one of these mistakes will tell you that the upfront fee is nothing compared to the ultimate price of the mistake.

Do You Need an Estate and Asset Protection Planning Checkup?
While this may sound incredible, most affluent and successful people, including most doctors, (even those who earn $300,000+ a year or those who have amassed $1,000,000 or more in assets) do not have a proper estate plan or asset protection plan.

The Investors’ LOST Decade — My Foot! (As if you are only invested for 10 years?)
Market gyrations make us queasy. That is why there have been way too many recent articles about the previous “lost decade” for investors, referencing the S&P 500 as the proxy for investor returns.

Why (Business People Think) Doctors are Stupid
Is this is really a misconception? Of course. Doctors are not stupid; they’re brilliant. Trained in pattern recognition, and absorbing and analyzing tremendous amounts of data, systematically, physicians come up with solutions that are most wholly appropriate for the patient.

Of Golf and Gold
So, I’m a 15 handicap golfer. Okay, I was a little better a year ago, but I’m not that good now and the other day I shot 98 and had two birdies. For those of you who play golf, that’s a really bad score with two really good holes.

Roth 401(k) Plans: The Numbers Don’t Lie
Most people are not aware that a new retirement account was signed into law on August 17, 2006, that can dramatically affect how you save for retirement. It is a component of a “regular” 401(k) plan; however, the funding of a “Roth” 401(k) plan is funded with AFTER-TAX dollars.

Should You Tax-Defer Money into Qualified Plans/IRAs? (Read Part II of this series to find out why for many the answer is NO!)
In last week’s newsletter, I alluded to the fact that tax-deferred qualified plans may not be the most efficient and safe way to build wealth (actually they can be quite tax-hostile). I indicated that a “better” wealth-building tool with unique and protective characteristics is “Revolutionary” cash value life insurance.