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Financial Planning Information

Sherman Wealth Management provides you with relevant financial planning information to give you the resources you need to make informed choices. Read through our posts below and contact us to set up a free call for more information on creating a custom financial plan.

January 9, 2017
new financial plan

Should you “Inaugurate” a New Financial Plan on January 20th?

Time for a New Financial Plan? The market’s wild ride after the presidential election might have you wondering if a change in leadership should mean a change in your financial strategy. While no one can ever predict with certainty what will happen to the market – or even on Twitter these days – there are […]
December 9, 2016
developing a financial budget

3 Ways to Make Budgeting a Success in the New Year

At the end of each year – and the beginning of the new one – most of us think about things we’d like to accomplish in the coming year. It’s a time we engage in self-reflection, ideas for self-improvement, and new – or ongoing – resolutions and goals. One of the most common resolutions is […]
November 28, 2016

The Problem with “Buy Low, Sell High” Advice

Of the many common sayings in the finance industry, the most popular is undoubtedly “buy low and sell high.” While it sounds simple enough, it’s actually significantly more complex than it seems. Not Following the Herd Buying low comes from an investment philosophy known as value investing. The basic concept of value investing is to […]
August 26, 2016
Financial Knowlege

The Importance of Personal Finance Knowledge

For years, the Financial Industry Regulatory Authority (FINRA) has tracked American personal finance knowledge through a survey about saving habits and basic financial principles. FINRA recently released the results of its 2015 survey, which includes the fact that only 37% of those who took the survey could answer four of the five questions on a […]
August 3, 2016
Fear of Investing

Fear Keeps Millennials on Investing Sidelines

Millennials are nervous about investing. Recent surveys have shown that 70% of millennials keep their savings in cash rather than invest it in the stock market. But by not investing early on, these people in their 20s and early 30s miss out on the key advantage they have at a young age: time. Because your investment […]
July 27, 2016
401k

The Conflicts of Interest Around 401(k)s

A new study in the Journal of Finance has found that conflicts of interest in 401(k) plans can lead to serious losses for individual investors. More specifically, the 2,500 funds surveyed were less likely to eliminate underperforming funds that were their own rather than another provider’s fund. This can be very costly to retirement savers. […]
July 18, 2016
repapering

Advisors Repapering Your Account: What to Know

The White House’s report on conflicting financial advice estimates that there is a staggering $1.7 trillion invested in products that generate conflicts of interest for advisors—meaning products that advisors earn a commission for selling to clients—leading to a loss of 12% in a retirement account’s value over 30 years. To combat this, the Department of […]
June 1, 2016
financial planning for Millennials

Where Millennials Can Turn for Financial Advice

We live in a fascinating time. The biggest wealth transfer in history is beginning, as Millennials will soon become the wealth bearing demographic in this county.  Not surprisingly, as we pointed out in a recent blog post, personal finance is a huge issue for many Millennials. But where can a Millennial turn for advice? Goals, […]
May 23, 2016
Investor Biases

8 Common Investor Biases That Impact Investment Decisions

This article was originally published on investopedia.com One of the biggest challenges to our own success can be our own instinctive behavioral biases. In previously discussing behavioral finance, we focused on four common personality types of investors. Now let’s focus on the common behavioral biases that affect our investment decisions. The concept of behavioral finance […]
April 13, 2016
6 Questions for Financial Advisor

6 Questions to Ask A Financial Advisor

Finding a financial advisor who is right for you is an important process. A good financial advisor is there to prevent you from making decisions that would have a negative, unintended impact on you. Who wouldn’t love to have a financial coach to keep you on track to achieve your financial goals? Just like with […]