Scott Oeth, CFP Financial Planning-Investment Management

I had a great time talking about my business and career path with Caleb Brown, MBA, CFP® on the New Planner Recruiting, LLC podcast!

[A tidbit for those in the financial planning industry, Caleb and I met at what I believe was the second FPA NexGen conference in 2007 at St. John's University. Many of today's industry leaders were at that modestly sized gathering. That was also the first time Caleb and I were in a canoe together!]

Our conversation--

New Planner Podcast: Scott Oeth & Creating a Successful RIA Model — Scott Oeth Wealth Management Scott Oeth talks about his journey to becoming a financial advisor, from his early days in banking, to opening his own RIA business, and all the bear markets in between. Scott also talks about how his approach to his outdoor adventure business, Bull Moose Patrol, parallels his approach to his financ

What stories do you tell about money in your family?

“Creating and telling family stories give meaning to the experience of the family. We live our lives within the context of stories and understand reality through our self-narratives and family myths.”

— Charles Collier, "Wealth in Families"

More family financial talking points in the linked post below, as well as an article my grandfather wrote in the 50’s on the Wise Use of Credit!

"Fidelity Fiduciary Bank" David Tomlinson and Dick Van DykeScene From Walt Disney's Mary Poppins

A great read here!

A 67-year-old who 'un-retired': 'The biggest retirement challenge that no one talks about, in my experience, is finding purpose'

Unique Minneapolis home featured in the London based Financial Times.

The Minneapolis landmark that is the epitome of Streamline Moderne design The 1930s lakeside home with trademark curves, chrome railings and glass brick has been harmoniously extended and renovated

5 initial good steps to take if you are facing, or dealing with a layoff.

Laid Off With a Severance Package? Here’s How to Make a Plan

Top 5 Financial Planning Challenges Facing Corporate Executives-

Corporate executives are some of the most successful, intelligent, and goal-oriented people in today’s business world. When looking at their personal finances, however, deciphering options and making decisions about financial issues can still cause headaches.

My post in the links outlines five financial planning obstacles that many corporate executives face and some ideas on how to conquer them-

As always, be vigilant. Important info from WSJ about iPhone thefts.

"Reece Thompson, an art director at a creative agency in Hiawatha, Iowa, was having a drink with his girlfriend while visiting downtown Minneapolis when his iPhone 12 Pro went missing from the bar. The next morning, when he tried to log into his Apple account from a different device, the account password had been changed. Thousands of dollars had been charged to his credit cards via Apple Pay and $1,500 was stolen from his Venmo account, he said."

A Basic iPhone Feature Helps Criminals Steal Your Entire Digital Life The passcode that unlocks your phone can give thieves access to your money and data. “It’s like a treasure box.”

Stories of resourcefulness during lean times. Many related personal anecdotes in the comments.

While "looking up" financially can be inspiring and provide motivation, looking at those who have less, or generally back in history when most people had a much lower standard of living, can help cultivate a sense of gratitude.

Dust bowl life. c1933 When the flour companies learned that the poor in the dust bowl were sewing flour bags together to make dresses and other clothing for the children, they began selling their flour in different decorative bags with flowers and such things printed on them so that the “clothing” made would be a bit more attractive and fun. And the little girls really appreciated that. It’s the little things

"On “Black Monday,” Oct 19, 1987, the Dow Jones Industrial Index crashed and lost 22.6% in ONE DAY!

Stocks had been soaring in early 1987. Concerns about federal debt levels, rising interest rates, a trade deficit, and tax law changes may have sparked the sell-off. Large and panicked mutual fund redemption requests, as well as “portfolio insurance”—an early computer-based trading algorithm that was intended to offer investors downside protection, but instead fed the 1987 fire by sending “sell” signals—are often cited as exacerbating the crash."

I take a look at investment wisdom being offered in the midst of a past crash by a couple of true legends; Sir John Templeton, and Louis Rukeyser!

Templeton is regarded as one of history's greatest investors, and as a vet of the 1929 stock market crash, was able to offer great perspective in the midst of the 1987 crash. The video linked in my blog post from the Louis Rukeyser show is fascinating for students of market and economic history!

*Full blog post in comments

Perspective on technological progress-

These two photographs are separated by 66 years

There are still a couple days left to optimize you tax planning for 2022!

Here's a recording of the great year-end tax planning discussion I had a couple weeks ago with Mark Gasner, CFP®, CPA, Kevin O’Laughlin, and Derek Ketcho, CFP®.

Top Year-End Tax-Planning Strategies Scott Oeth, CFP®, Mark Gasner, CPA, Kevin O'Laughlin, CFP®, and Derek Ketcho, CFP® discuss top year-end tax-planning strategies to help you maximize your fin...

TikTok time found to have benefited someone?

This TikToker started with a 1¢ bobby pin and bartered it all the way up to an $80,000 house

"The market looks kinda scary right now. Do I put this in all at once? Do I invest it, or should I dollar-cost average it into a market?"

"The Journal of Financial Planning back in 2004, took one of the most intense dives on this. They looked back over 65 years, and they found that even without accounting for dividends, you're typically better off to just put the money in as a lump sum, because the down periods in the market tend to be short, and the long ones tend to be much longer, and the overall trend historically has been upward and onward. So, if you can stomach it, if you can deal with a bit of risk, if you don't need any of that money in the near term, you're generally better off to choose a good portfolio, choose good investments, get some some help there, and put the money to work and buckle up your seatbelt and just get comfortable with the fact that you may see it fall in value 20% next month. That generally works, like 65% of the time is what the research shows you're better off investing when it is a lump sum. However, in real life, emotions are important, that's real money, and regret is painful so, that's not always what we do."

The rest of the story, including the audio of my radio interview on the topic, and transcript, linked in the comments below--

"The secret, I think, lies in the fact that most of the artifacts of civilization eventually wind up obsolete on the junk heap. The eternal wilderness, however, refreshes and recycles itself."
Thoughts on wealth and wilderness from Calvin Rutstrum, one of my favorite old time outdoor writers. Full story in my blog post linked in the comments below."

"I was happy in those youthful days even when austerity arose with me each morning. As a boy seeking the wilderness I had no money for camping gear, and so I slept with a blanket of dry leaves heaped on me for warmth. While I also went to bed with austerity, I nevertheless slept well, and rose happily with the dawn. When I gained some affluence I did not greatly increase my happiness, and I am inclined to think that if I lost what money and possessions I now have, I would still be happy, because I would always have the inexhaustible treasure of wilderness to fall back on."

Thoughts on wealth and wilderness from Calvin Rutstrum, one of my favorite old time outdoor writers.

Full story in my blog post linked in the comments below.

Bull Moose Patrol

Everything Looks Terrible: Will Markets Recover?

"In the J.P. Morgan above, you’ll see they found eight peaks in confidence, and eight valleys in sentiment since 1971 (each measured by the blue dots on the chart). The jagged gray line charts the monthly MCSI readings, while the bold black type shows the one-year S&P 500 stock market return following each high or low in sentiment. Amazingly, the one-year average stock returns following the valleys (+24.9%) trounced stock market returns following the peaks in confidence (+4.1%)!"

-The rest of the story in my blog post in comments below.

Federal Reserve Bank, New York, 1959. Photo Ormond Gigli

Engagement, the pride of skill mastery, feeling valued for your contributions, and maintaining an inflation-hedged income stream.

We spend a lot of time helping people craft and live their retirement plans, but there is a lot to be said for continuing to work, especially if it's because you want to continue to work!

Congratulations to 100 year old Mr. Walter Orthmann, 84 years working with the same company!!!

"When we do what we like, we don't see the time go by"

A 100-year-old man has broken the Guinness world record for the longest time employed at the same company — 84 years Walter Orthmann, a 100-year-old in Brazil, started working at textile company ReneauxView in 1938. Eighty-four years later, he's still there.

"CJ, it's just like if I said, Hey, can I borrow $10, I'll pay you back after lunch? You might say, you know, okay, that's a reasonable risk. I'm gonna see him, I know where he's hanging out, and I'll probably get my $10 back. But, if you don't know me very well or maybe you've heard not great things about my character or my reputation, and I say, CJ hey, can I borrow $10 bucks I'm gonna go hitch-hike across the country, I'll be back sometime next year and pay it back. You might say, Eh..."

I talk bond market mechanics, provide some explanation as to what's causing all the ruckus in the bond market today, and offer some thoughts as to where it all maybe headed in this month's "Money Matters" radio interview.

Audio link and transcript in comment section.

Regarding 2021 -"It's been a weird year in money"--So true.

Money has never felt more fake The market feels like a bubble. Does it matter?

A rare 1934 thousand dollar bill.

“Far more money has been lost by people preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”

– Peter Lynch, legendary portfolio manager of the Fidelity Magellan Fund

My observations on the top wealth management challenges commonly faced by corporate executives:

-Complexity
-Concentration
-Leverage
-Time Constraints
-External Pressures and Expectations

I elaborate on these thoughts in this post--

Top 5 Financial Planning Challenges Facing Corporate Executives — Intrinsic Value Corporate executives can face a lot of challenges when trying to decipher options and make decisions about their personal finances. Here are five common issues executives need to address with their personal finances—and ways to resolve those issues.

Is “The Market” overvalued?

Are prices too high for all stocks?

An eye-catching chart here from Dimensional Fund Advisors showing differences in stock price to company book value, and revealing two very different stock market asset classes!

If you like history, or, umm..money, this is worth a watch!

The History of Money in America Our Brand New Viewing Experience ➧ https://townsendsplus.com/ ➧➧Retail Website ➧ http://www.townsends.us/ ➧➧Special thanks to Hillary and Rick Wagner for the...

How good was last year's 28.71% S&P 500 stock index return?

How common was it? An interesting chart here from Hartford Funds. There is a tendency to think that investment returns will hover around the average long-term return (10.5% S&P500 1926-2012), but they are actually all over the place!

If you need your portfolio to deliver a specific dollar amount at a specific point in time (tuition payments, retirement paychecks, dream home purchase), more precise portfolio planning is required!