FINANCIaL

FIELd NOTES

Personal Finance Alex Voorhees Personal Finance Alex Voorhees

Is There A Margin Of Safety In Your Financial Plan?

Have you ever gotten onto a overcrowded elevator and stared anxiously at the “Maximum Capacity” sign wondering how close you really are to the limit? The good news is that when engineers design elevators, they include a margin of safety above and beyond the limit suggested for standard operation. The same is true for airplanes, cars, and just about anything else with strict regulation. Your financial plan should have a margin of safety, and you’re the one to regulate it.

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Personal Finance Alex Voorhees Personal Finance Alex Voorhees

Fiduciary vs. Suitability and Why it Matters

In 2016, the DOL released the Fiduciary Rule, which for the first time brought to light two different types of financial advisors; Fiduciaries and Non-Fiduciaries. Before this, investors had very little knowledge of the differences. Studies have shown that nearly 50% of Americans believe ALL financial advisors are required to act in the best interest of their clients. However, this is sadly not true.

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