Scott Neal – MD Update

Recollections of Financial Crisis

At 5:00 AM on March 20, 2020, the DOW futures were registering an implied open to the trading day 800+

Finance

The SECURE Act and Your Retirement

February 1, 2020April 2, 2020 Scott Neal 70½, asset, beneficiary, bracket, bracket management, carryforwards, consideration, conversion, critical decision factor, current tax regime, deceased owner, decision factor, free income, future generation, high tax bracket, important provision of the act, income recognition, income recognition strategy, inherited IRAs, insurance, IRA, IRA beneficiary designation, IRAs, IRS table life expectancy, job act, large retirement account relative, life insurance, low tax year, minimum distribution, must start, non-retirement, non-retirement account, non-spouse, non-spouse beneficiary, plan opportunity, prior plan, prolong wealth, re-evaluated, reprieve, retirement, retirement account relative, retirement asset, retirement enhancement, RMDs, Roth, Roth asset, Roth conversion, Roth distribution, Roth IRAs, Roth reprieve, Scott Neal, secure act, stock advice, strategic approach, tax bracket, tax-free, tax-free distribution, tax-free growth, taxpayer, top of the current 24% bracket, traditional IRAs, traditional retirement asset

For as long as I can remember, the stock advice about IRAs has been to stretch them out as long

Finance

Smarter Investment Objectives

November 1, 2019February 21, 2020 Scott Neal aspect of liquidity, asset, asset 's tax, available cash, cash, cash flow, category, charitable organization seek year-end contribution, difficulty set investment goal, dividend, Droms, economic benefit, economic benefit of an investment portfolio, elimination of capital gain, G., Georgetown university 's William G., immediate taxation, immediate taxation of dividend, important tax benefit, investment, investment goal, investment portfolio, liquidity, little quiz, MD-UPDATE, MD-UPDATE issue, moderate growth, portfolio, qualified retirement account, question of allocation, quiz, retirement account, risk tolerance, Scott Neal, security selection, share of a widely-traded stock, smart give, smart investment objective, substantial growth, tax benefit, tax consideration, tax-efficient invest, tradeoff, valid entry, widely-traded, widely-traded stock, work of Georgetown university 's William G., year-end contribution

Before we get into the topic for this issue, I offer a reminder. If the contents of your inbox resemble

Finance

Standing on the Shoulders of Giants

October 1, 2019December 9, 2019 Scott Neal American Gridlock, blind discipleship, BOMC, Book-of-the-Month-Club, co-chairman of Oaktree capital management, compel memo, Crestmont, Crestmont research, Crestmont research forecast, D., demand of the affordable Care act, dynamics of total health care expenditure, Ed Easterling, financial physics, financial plan, founder of Crestmont research, free memo, free website, H., impact of current financial decision, investor, investor 's horizon, Laurence Kotlikoff, loftiness of the stock market, market cycle, Marks 's memo, MD-UPDATE, member of the Book-of-the-Month-Club, memo, non-financial professional, Oaktree capital management, periodic newsletter, president of strategic economic decision, reader of MD-UPDATE, Scott Neal, secular stock market cycle, secular stock market insight, shoulder of giant, stock market cycle, stock market insight, strategic economic decision, thoughtful investor, total health care expenditure, website, Woody Brock, world-class economist

Were you ever a member of the Book-of-the-Month-Club? I joined BOMC back in the 80s, but I quickly decided that

Finance

Life’s Black Swans

September 1, 2019October 28, 2019 Scott Neal 30 year old, 32-year-old client, age-in-place, attorney, best-laid, Black swan event, chair lift, chaos, client, co-appointees, coordinator of healthcare, decisional capacity, family communication plan, family member express compete view, financial plan, financial plan standard, financial planner experience, first-floor, first-floor master suite, first-time homebuyer, health care surrogate, healthcare, healthcare power, healthful lifestyle, incapacity, incapacity hit, let 's deal, life 's black swan, life 's predictable predicament, low probability of occurrence, middle of family member express compete view, mind of a first-time homebuyer, model uncertainty, ounce of prevention, plan conversation, planner experience, pound of cure, predicament, price of a chair lift, real cause of volatility, remote risk, round-the-clock caregiver, Scott Neal, single mother of a toddler, stagger consequence, step present, swan, true value of an investment, truth of the adage, valid healthcare power, valid healthcare power of attorney, vibrant 30-something

Who, better than you, knows the truth of the adage “an ounce of prevention is worth a pound of cure?”

Finance

Market Volatility — 2019 Style

June 1, 2019September 4, 2019 Scott Neal all-time high, Brock, capital of the firm, earnings, excess capital, fed rate, good quarter, increase earnings, increased volatility, interest rate lead, labor, late federal reserve pronouncement, long-term wealth, market volatility, model uncertainty, monopoly, negative real return, PE, PMU, profit of a company, real cause, real cause of the volatility, real cause of volatility, recent market, remarkable growth of earnings, reporter of the financial press, reporter of the news, reserve pronouncement, round of increased volatility, S&P 500, Scott Neal, stock, true value, true value of an investment, US stock market, volatility, volatility of the recent market, Woody Brock, world-class economist

I’m concerned because I have heard too many people recently say something along the lines of “I know the US

Finance

Modern Financial Planning

May 1, 2019June 21, 2019 Scott Neal 15 second history, amount of insurance, calculator, consumption, consumption disruption, consumption smooth, economics, economics approach, experienced financial planner, financial plan, fund provider, good theory lead, high degree of correlation, high-cost investment, income replacement rate, income replacement rate methodology, incredible panoply, incredible panoply of variable, Kotlikoff, Laurence Kotlikoff, lifecycle model, lifecycle model of MIT 's Franco Modigliani, MIT 's Franco Modigliani, modern financial plan, nation 's lead mutual fund provider, over-insure, over-save, plan calculator, popular rule of thumb, post-retirement spend, pure guess, recommendation of the computer-generated, retirement, right target, Scott Neal, sidebar list, simple time value calculation, skilled mind, small target mistake, thorough economic study, time value calculation, under-insure, under-save, valid financial plan, websites use five, work of Yale 's Irving Fisher, Yale 's Irving Fisher

Laurence Kotlikoff, PhD, professor of economics at Boston University, has asked a very important question. Are Americans saving too much?

Finance

Two Financial Updates for 2019

March 1, 2019May 13, 2019 Scott Neal adjusted gross income, bond market slide, China 's central bank, DAF, deduction, donor-advised, donor-advised fund, dramatic sell-off, economic growth number, extreme bullishness, extreme panic, fed, filer, financial update, future interest rate hike, growth number, hold stock, interest rate, IRA, job act, long-term goal, market outlook, married joint filer, MSCI All-World, MSCI All-World index, new standard deduction, OR 2, QE 1, quantitative tighten, reduce reserve requirement, renewal of the bond, risk tolerance, RMD, round of quantitative ease, Scott Neal, single filer, stay power, tax update, uncertain trade talk, US bull market, US debt, year 's worth of charitable deduction

Market Update The US bull market is getting long in the tooth. We have just witnessed a V-shaped partial recovery

Finance

Time for a Financial Physical?

January 1, 2019March 21, 2019 Scott Neal assumption, client, client goal, constant inflation-adjusted standard, creation of dynamic financial plan, current financial net worth, current financial profile, current net worth, current reality lead, date of the plan, dollar, dynamic financial plan, economic environment, financial checkup, financial physical, financial plan, financial profile, financial well-being, goal change, I, inflation, inflation-adjusted, inflation-adjusted standard, investment return, joyful time, key element, key element of a comprehensive plan, let 's face, let 's review, long range goal, long-term goal change, net worth, plan horizon, planner, present review, projection of net worth, reality lead, Scott Neal, update, worth

One of the most frequent questions asked by our readers is: “How often should a financial plan be updated?” While

Finance

A Mindset Shift

December 1, 2018February 15, 2019 Scott Neal ➔, ➔ being, age individual 's perspective, age means, Arbinger, Arbinger institute talk, complex set of negative emotion, concept of usefulness, cultural perception of age, D., developmental task, disappointment of dream, elderhood, encourage way, enrich experience, experienced mature person, fear of the limitation of ill-health, fee-only, fellow Rotarian, fruitful exercise, get old, individual 's perspective, innocent state, large cultural context, mindset, Mindset shift, outward mindset, perception of usefulness, power of mindset, president of D., Scott Neal, self-focused, senescence, small act, st birthday, st birthday of a fellow Rotarian, standpoint of a large cultural context, understand identity, uniqueness of a person, usefulness, wide variety of answer

One of my key questions to new clients focuses on what retirement really means. I have heard a wide variety

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