Suitable Investments and You

  suit·a·bil·i·ty:  The quality of being right or appropriate for a particular person, purpose, or situation. The definition of suitability seems quite easy to understand and should be clear when it comes to investment recommendations to clients.  However, many times when clients come to our firm the investments they have …

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3 Things being a Marine taught me about being a financial advisor

 

Hello, this is Jeff Junior, President, and CEO of Trajan Wealth. I’ve spent nearly two decades in financial services helping people manage their wealth, prepare for retirement, and manage the ever-changing financial landscape. But before I was serving my clients in the financial sector, I was serving my country as a Marine. Memorial Day is an important day for reflection as I honor my fellow servicemen and women who have served before, with and after me. This day is an opportunity for us to be grateful, and honor those who have made the ultimate sacrifice for us, our families and our country.

I learned a lot while in the Marines and have found three lessons in particular that now transfer to my role as a financial advisor.

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The Real Cost of Credit

2017 was a challenging year for the credit industry. From the data breach at Equifax and multiple lawsuits that follow, it has been a tumultuous time for consumers to have faith in the world of credit. Unfortunately, it’s becoming apparent that for Americans overall, it’s not going to get any better in 2018 as the trend of acquiring more debt increases.

Aside from having to shell out money for damages caused in 2017, the credit industry will have a very lucrative 2018 even after paying fines and settlements thanks in part to the American consumer.

According to MarketWatch, U.S. households owe more than $1 trillion in credit-card debt, and the numbers are only rising. Your typical culprits of irresponsible spending that contribute to increasing credit card debt among Americans includes more access by those considered ‘subprime borrowers,’ increased costs for food and housing and continuous spending on unnecessary items. As the average household holds a balance of $15,983 on credit. The cost of maintaining a lifestyle beyond their means can cost a lot more than anticipated with interest rates on the rise.

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Legacy Planning as Part of Life Planning

Leaving a legacy through the passing assets today and after your death is a process that requires correct planning and execution. With the recent Tax Cuts and Job Act of 2017, updated tax codes, and an ever-changing political environment, legacy planning requires consulting with multiple professionals in order to pass assets without financial consequences.

Legacy planning should always be a team effort involving an attorney, tax specialist, and your financial advisor if planning involves securities assets, or will benefit more than one generation, non-profit, or other entity. Transferring wealth has no ‘right or wrong’ way but is best the way that you prefer.

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7 Tips to Avoid the Most Common Tax Scams

With the significant 2017 cybersecurity leaks involving the personal information of millions of Americans, this year’s tax season is expected to be one of the worst ever for tax scams. Aside from cybersecurity leaks, scammers also target HR departments via emails requesting employee information while posing as the IRS, which has corporations on edge to maintain the security of employee information.

This year’s tax season officially opens January 29th, 2018 and runs through April 17, 2018 and scammers are ready and waiting to file tax returns in the names of other people. Hundreds of thousands of people will file their taxes this year expecting a return, only to find out the return was sent somewhere else. What can you do to protect yourself?

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Fear, Greed, and Your Portfolio

We like to think there are times when humans can be 100 percent rational, but in reality, our emotions are always influencing our decisions whether we want to acknowledge that fact or not.

In fact, one of the most famous mathematicians of all time, Godel, based his foundational incompleteness theorem partially on that point. The universe is likely objective, but humans cannot always objectively measure, observe, or even understand it.

So stop fighting your irrationality. You’re officially off the hook.

Fear plus greed and your finances

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Is Retirement Really About Numbers?

For some people retirement is all about the numbers; the age you plan to retire, how much money you need, and so forth. But is retirement really about numbers?

Numbers give us a baseline to help you financially plan for today and the future. Your numbers can change throughout your life. Maybe you’re already retired or are within ten to twenty years of retiring, but one thing is clear; whether you love them or hate them, numbers play a role in all aspects of your financial life:

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