The recent budget bill signed into law on November 2 contained some surprising changes that limit Social Security claiming strategies. The legislation made some major changes to the “File and Suspend” and associated “Restricted claim for spousal benefits”. These strategies allowed retirees to optimize their Social Security payouts, and many advisors had incorporated these into clients’ retirement plans. […]
General
A Financial Lesson for the New College Grad
It’s that time of year again when college seniors head into the real world. First of all, we would like to congratulate all the new grads on their achievement. Luckily, the job hiring environment is better this year than it’s been in a long time, with the unemployment rate around 5.5%. New grads are often bombarded […]
Is Bad Service Ever a Good Thing?
At L Squared Wealth Management, excellent service is one of our core values. It surprises us when a company that provides poor service is very profitable. Spirit Airlines is one of the fastest growing airlines in the US, with revenue growth over 20% per year for the last five years. Spirit has specialized in a la […]
Manifest Destiny
24 years ago, I quit my job at IBM’s East Fishkill semiconductor facility to go to work for a small, high tech company in California. It wasn’t an easy decision at the time. I had grown up in an IBM family in the Hudson Valley. IBM was in my blood. At that time, very few […]
Are You Your Own Worst Enemy
I am often asked my prediction for the market. I typically tell people the truth: I don’t know what the market will do, especially for the short term. Good news doesn’t necessarily translate into higher stock prices, and conversely, bad news doesn’t always translate into lower prices. Honestly, I don’t believe anyone can predict the […]