Marjorie Bloom had worked 42 years as a federal attorney. She had amassed her nest egg of $660,000 for retirement through decades of work and an inheritance from her parents. She was looking forward to her future and ultimately leaving any leftover money to her children just as her parents had for her. Unfortunately, that all changed in 2021 when her computer suddenly froze and cunning con artists stole her life savings.
This story first published by CNBC in 2023 tells a far too common story of individuals losing funds to cyber criminals. With cybercrime becoming increasingly sophisticated, all individuals need to be prepared to protect their information and accounts.
In this podcast, we discuss the prevalence of cybercrime as well as common scams and ways to decrease the likelihood of becoming a victim.
If you are interested in learning more about how to protect the wealth you’ve created from cunning cybercriminals, we think you’ll enjoy this episode. Thanks for listening!
For more details on cybersecurity, check out our blog post covering the same topic at https://pw-wm.com/learn/financial-planning/dont-lose-your-life-savings-in-an-instant/
Between 2010 and 2030, the Baby Boomer generation (estimated at 73 million individuals) is retiring at a rate of 10,000 people per day, and while each of these individuals likely looks toward their new found freedom with excitement, they also face significant challenges. One of the most significant challenges is ensuring their money lasts throughout retirement.
When asked about the most likely reason they may run out of money, most retirees will say a significant market decline that reduces the value of their investment accounts. However, history shows that inflation and the loss of purchasing power over time is likely a more significant risk.
In this episode, we discuss how retirees can balance the risk of market fluctuations with the loss of purchasing power as they construct a portfolio to last throughout their lifetime.
If you are interested in learning more about how to invest for retirement, we think you’ll enjoy this episode. Thanks for listening!
For more details on investing for the future, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/your-greatest-retirement-risk/
At the end of 2023, the Magnificent 7 (Apple, Microsoft, Amazon, Google, NVIDIA, Meta, and Tesla) accounted for 28% of the S&P 500 index. With many of the largest exchange traded funds and mutual funds tracking the S&P 500 index, numerous investors have chosen to passively track the S&P 500 index with a significant portion of their portfolio.
While the S&P 500 has generally been regarded as a very diversified index, many investors don’t understand the level of concentration that the S&P 500 has in the largest tech companies.
On this episode, we discuss how an index holding 500 companies can end up with 28% of its allocation in only seven companies, the risks that this can present, and whether there are better approaches that can mitigate the risks.
If you are interested in learning more about how to invest for long-term success, we think you’ll enjoy this episode. Thanks for listening!
For more details on the Magnificent 7 and market cap weighting, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/the-magnificent-seven-and-market-cap-weighted-indexing/.
Steve and Nathan have a passion for teaching others about finances and how to build the financial independence that is achievable with the proper planning. In their roles at Prairiewood Wealth Management, both Nathan and Steve focus on providing comprehensive financial advice to ensure their clients have a coordinated plan that covers all aspects of their finances including their investments, insurance, estate plan, and charitable giving goals.
As Certified Public Accountants (CPAs), both Nathan and Steve believe that one of the most overlooked aspects of financial advice is the tax impacts that result. Accordingly, a core focus of the advice they give centers on integrating tax strategy into the overall financial advising process.
Steve and Nathan are excited to share their knowledge through this podcast as well as their blog with the goal of helping you effectively manage your family’s wealth and ensure you have a comprehensive and coordinated plan for your future.
