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Not unlike songs played on a golden oldies radio station, we believe certain retirement fundamental hits are worth repeating. In our case, as we approach the end of tax season we will repeat a mantra with increased importance: Appreciate your accountant. It's easy to take accountants and tax experts for granted when it comes to retirement savings.

The Sedoric Group Outlook is sent to all our clients to provide them with a summary of important financial events and policy changes from the past year. This includes a discussion of the themes we see developing in the years ahead and actionable items to consider.

Thank you to all who attended our recent semi-annual conference call.

A recent posting in Axios notes: “A self-inflicted fiscal crisis could come at a terrible time amid a fragile U.S. economy and undermine a Treasury market that underpins the world financial system.” To what are they referring? Look at our nation’s finances today.

Thank you to all who attended our thematic update outlining significant market-related events of 2022 and the possible silver linings lurking beneath the surface.

We talk a lot about what an investor should look for in an advisor. Terms such as transparency (how does your advisor make their money) or whether they are a fiduciary or a sophisticated salesperson come up in our discussions. The attributes that make for a successful client, however, are often an afterthought, but they should be discussed and celebrated.

There is no doubt that economic uncertainty can unleash a pandora’s box of emotions and potential reactions to events and trends out of our control. Folks had justifiable concerns about portfolios losing value and overall wealth loss from 1973 to 1975 when inflation was raging; similarly in 2002 and 2009 when markets took a significant drop. Wealth loss was, and still is, no laughing matter.Yet, economic downturns are common and we believe the best investors are wise to discern the silver

We have discovered over the years that one of the more interesting aspects of our profession is how folks, often unintentionally, project their feelings, fears, and anxieties onto us. Whether it’s on vacation or at community gatherings, we take our emotional magnet status in stride. During times of economic turmoil such as today, we are on the receiving end of variations on a theme of “Aren’t these very stressful times for you and your clients?” Implicit in this query is

Thank you to all who attended our recent semi-annual conference call where we discussed important themes for 2022 and how they may inform financial investments in the years ahead. Below you’ll find the recording of our conversation to listen to on-demand.

The Sedoric Group's 2022 Annual Outlook Mid-Year Report includes a discussion of the themes we see developing in the years ahead and actionable items to consider as we navigate the second half of 2022.

No matter how hard one tries, there is no denying that the current behavior of markets is a gut check for markets, investors, and the public. For more than two years, we have been sailing through one storm after another of collective events due to synthetically low-interest rates and easy money.

In times of conflicting economic news – such as rising inflation and interest rates, and the seismic impact of the largest ground war in Europe since 1945, just for starters – it’s not unwarranted to wonder if the global economy is being stirred to serious turmoil like the three witches (or weird sisters) in Shakespeare’s “Macbeth” foretold.

Partner and Executive Managing Director Tom Sedoric, who has been providing advice to successful families and individuals since 1984, is passionate about what he does. You can often find him in his home office surrounded by inspirational artifacts from his career.

A good fiduciary should be transparent on how they are compensated, how their fee structure is established, their specific roles and responsibilities, and should follow guidelines to avoid, minimize, and disclose conflicts of interest at all costs.

When it comes to retirement, knowing ahead of time how to set yourself up to live comfortably is important. There’s no one-size-fits-most plan when it comes to future financial success. Here at the Sedoric Group, our team of experts will take into account your unique circumstances and help set you up for success.

In our inaugural episode of “Beyond Your Balance Sheet,” a podcast delving into the parts of life beyond the balance sheet that contributes to overall wellness, our host Laura Knoy sits down in conversation with John Broderick to discuss mental health care and stigma in the United States.

The Sedoric Group Outlook is sent to all our clients to summarize important financial events and policy changes from the past year. This includes a discussion of the themes we see developing in the years ahead and actionable items to consider.

What’s an NFT? Should I invest in Bitcoin? Which of these trends are passing fads, and which are here to stay? There’s a lot of information swirling around, and it’s difficult to make sense of it all. Let’s break off a small piece to start and dive into the metaverse (figuratively, not literally).

Please listen to our semi-annual conference call with Tom Sedoric and Casey Snyder as they discuss important themes from 2021 and actionable items for the years ahead.

Your goals, objectives, and financial situation are never stagnant from year to year. They’re constantly shifting and evolving as you age and life circumstances change. That’s why your distribution strategy should be reviewed in the context of the previous year and the years ahead.

Among the many lessons in his remarkable 2020 book “The Psychology of Money,” Morgan Housel nails the one about our relationship with money. It is a lesson that should be shared far and wide.“People want to become wealthier to make them happier. Happiness is a complicated subject because everyone’s different. But if there’s a common denominator in happiness – a universal fuel of joy – it’s that people want control of

 On one spring day in 1844, Samuel Morse sent the first telegraph message to a train depot in Baltimore via the alphabet code he had invented. The same return message to Washington, D.C. – the biblical phrase “What hath God wrought? – was witnessed by Morse and a delegation of dignitaries and Congressmen. At that moment the timely sharing of information was transformed forever. We went from the Pony Express to the  internet in only a few decades.Similar evolution is h

This year we’d like to shine the light on you all and share how our clients have stepped up dramatically over the past few years by making investments of their own in the robust nonprofit sector that makes our collective communities special places. We’ve been impressed with the passion many of you have displayed in investing in your communities and The Sedoric Group is grateful for the opportunity to work with you, together with your legal and tax counsel, to become more efficient and strategic.

There’s no downside to having a plan for taking care of your hard-earned finances and assets after your death. With proper estate planning, your family will benefit greatly from not being left to figure out “what’s next,” and you can feel confident in knowing that probate court will not distribute assets contrary to your wishes.

Healthcare. As a topic of discussion, it’s never really at the top of people’s list of interests – until it is. It’s something we all need to deal with throughout the entirety of our lives, but, outside of actually dealing with it, many of us would much prefer to leave it alone until it’s time to visit the doctor for our annual checkup (let’s pretend for a minute that said annual checkup is not a year overdue). It’s daunting. All of us just naturally want to be healthy.

Beyond mitigating risk, proper retirement planning increases your overall chances of success and provides the financial confidence you have worked for. Success, in the context of retirement, means very different things to different people. Part of the planning process involves identifying your unique wants, needs, and goals for retirement.

The looming threat of exorbitant medical expenses is a cloud over most all of us. As we know, the unexpected can—and does—happen, and it’s critically important that we’re prepared when it does so we don’t end up losing everything as a result. There’s very little we can do as individuals to influence change in the healthcare system itself, but we can take steps to mitigate the impact of medical expenses on our personal financial lives.

What do you want to get out of retirement? Perhaps you and your partner are excited to travel the world, or maybe you’re looking forward to a chance to relax and improve your golf game. You may also have plans to downsize or move closer to children and grandchildren.

Change may seem glacial until it isn’t. Change happens in cascades of opportunities across the world. For our future children, those yet to be born, this trajectory in ESG investing and conscious efforts in sustainability could potentially be the transformational roadmap that makes the Industrial Revolution of the 19th Century seem quaint by comparison.

While saving for college may be a daunting task, it’s far from impossible. Armed with the knowledge that there are plenty of alternatives to private and public universities, and educating yourself on financial aid (including grants and scholarships) available to your child, can help make the college savings experience more manageable.

Preparing (well ahead of time) for a life event can simplify decision-making and give you confidence in your financial future. Many small, simple actions can add up to significant changes in your life and future financial outlook.

Investor expectations are outrageous. And, no, we’re not singling anybody out in particular. We’re not upset about it. We’re just trying to reset some sights here. The expected return on investment in today’s market is out of control, and it’s time to take a good hard look at what your own expectation really is, or rather, what it ought to be.

So how do you build an ESG portfolio? On the surface, it might seem simple. But it’s important that you have an in-depth conversation with your financial advisor and understand the risks at play when making a transition if you’re not already on the ESG track.

Like summer vacation, retirement requires thoughtful planning and preparation in order to reap the benefits of your years of hard work.

Today, let’s talk about one of the most widely known modes of saving: The trusty 401(k).

With so many notable headlines capturing our attention these days, it's easy to let some slip through the cracks without recognizing their significance. The recent budget passed by the New Hampshire legislature contained a $10 million measure to partially reimburse a few hundred clients who lost millions of dollars in the infamous Financial Resources Mortgage Ponzi scheme scandal of more than a decade ago.

Inflation hasn’t been a major issue in the United States since the dreary Stagflation days in the late 1970s and early 1980s. The formula was: high unemployment, double-digit inflation, and interest rates.

Renting can be a much more affordable option and may suit your needs better than you initially assume. If you have aspirations of a family vacation home, perhaps this blog post can guide you to the right solution for your needs.

Despite our best goals and plans, plans will, and do, change. Sometimes economic forces beyond our control challenge us as a downturn can put our portfolios and plans at varying degrees of risk. Closer-to-home, unexpected family needs can take center stage. At other times, we lose sight of our long-term goals and start spending money that threatens to undermine long-term goals and planning.

As we all age, it’s important to analyze whether our house is an asset, and—more critically—understand the costs of renovating that house to age up comfortably, safely, and within our means. Factors such as floor plan, accessibility, manageability, and location should all be considered in relation to aging in place at home. These renovations come at a cost that must be planned for accordingly before retirement age is reached.

In 2012, my wife Rhea and I were fortunate enough to purchase what we then considered our dream home in Eliot, Maine. It was perfect - it fulfilled all of our wants and needs at the time, and also provided room for us to expand in the future should life take that course. And for eight great years it lived up to our every expectation, providing all of this and more. But eventually, as we all know, wants and needs evolve.

Investors are placing their money in a sustainable investment strategy that aligns with their core beliefs. Compounding dollars solely to bolster bottom-line earnings is no longer good enough. There’s thought put into every dollar changing hands. Today we’ll suggest five reasons you should explore sustainable investing opportunities as a working piece of your investment strategy.

ESG investing—which is sometimes referred to as sustainable investing—empowers investors to support causes they care about and divest from industries that could potentially be harmful to our world. Investors may choose one or several causes to focus their efforts on depending on their passions and core values.

In the last year, many of us have been stuck at home, working remotely, paying bills, brokering deals, and purchasing goods to have them shipped directly to our house rather than risking the trip to the grocery store or any retail environment. So, to keep up with the “outside world,” we’ve gone digital. And with that, our personal information is flying around more than it ever has before.

Since 1913, the federal tax code has undergone dramatic changes. Rates have shifted significantly and will continue to evolve throughout the future, but one thing will remain the same—taxes have always been and will always be life’s biggest expense.

From the perspective of tax-efficient investing, March 2020 was an absolute gift for tuned-in investors and financial fiduciaries across the board. Here's why.

We will remember the Covid-19 pandemic as a life-altering event which has indelibly shaped our own unique experiences and adaptations. We witnessed at the same time the unimaginable failure by our federal government to deal with the pandemic and the remarkable resilience by tens of millions of Americans trying to map a cautious path to minimize the tragedy and chaos. As a society, we were forced to enter a steep learning curve on how to work, teach, and socialize differently. We mourned and cele

Watch our webinar for some book recommendations from Tom, Casey, and Dan Chartrand of Water Street Bookstore!

As everyone tries to make sense of the ongoing COVID-19 pandemic and the corresponding market downturn, many people are wondering what actions they should take to protect their finances. Although many investors have some sort of plan to help guide them, the majority are still concerned about how this pandemic will impact their futures and financial goals.

There are many reasons why the Federal Reserve has yet to reverse its course on historically low interest rates. The most obvious reason is also the most surprising: inflation, or the lack thereof...

When your plumber who has kept your toilets flushing happily for 25 years says he is retiring, what is your plan? Demographics and professional transitions have been a topic of discussion on our team over the past few years and should be for your family as well...

Tax deferral in one’s 401ks and retirement savings are often a case of “out of sight, out of mind”. Automated savings is understandably easy to do but, as always, there’s often a critical catch: will your nest egg be worth what it should be in real, spendable, after tax dollars when you need it?

These are chaotic and unchartered times. As unemployment rises and the GDP continues to settle into negative territory, the stock market is partying like its pre-crash 1920's, or 1990's, or mid-2000's. A recent cover story in Bloomberg Businessweek pondered "The Great Disconnect: Why do stocks keep going up?" Nobel Prize-winning columnist Paul Krugman noted in a recent New York Times column...

If the miracles promised you by the pharmaceutical industry seem to dominate the advertising between your favorite television shows, a close second is the financial services industry with ads aplenty about how company X, Y, or Z can miraculously help you and your family set and meet your life’s goals.

Pick any day or a couple of days when markets swoon and one thing is as sure as Newton’s Law of Gravity: the Pavlovian reaction of greed and fear among investors. When you throw in 24/7 news cycles of social media speculation and news with reports lacking historical context...

We are now weeks into an economic and social environment that few of us could have ever imagined at the beginning of 2020. In its history, this country has weathered numerous recessions and the Great Depression of the 20th Century, but we have never been forced to metaphorically put the economy into a coma due to the country’s gravest public health crisis in over a century. With each passing day, the political pressures are increasing to “reopen” the country to greater economic activity while..

Slide presentation created by The Sedoric Group in response to the current economic environment, global interest rates, and taxes.

Among many things, the New Year brings two inevitable events: the grind of tax season (especially for the unprepared) and a slew of economic and market forecasts that often read like a rejected comedy skit for Saturday Night Live...

Tom Sedoric and Casey Snyder host a conversation about the current economic environment, and provide their insights on the unusual economic events of 2019.

What might you respond to an advisor who emphatically tells you that taxes will, without a doubt, increase in the future? Would you thank them for being a wise fiduciary and for thinking proactively to help you prepare for a future of potential economic and tax volatility?

Quantifying the essential component of risk tolerance for our clients is no simple matter. For years, accessing risk has been more of an overall psychological assessment than anything. The formula reduced to its basics was a combination of determining how people remember and react to market fluctuations, an honest accounting of their financial habits, and their long-term goals...

The headlines of late have been filled with impeachment scenarios in the United States and incompetent leadership in Great Britain as the Brexit countdown to real economic consequences winds down...

Without much fanfare in May, the House of Representatives passed one of most significant retirement “saving” pieces of legislation in decades. Known as the SECURE Act (Setting Every Community Up for Retirement Enhancement), the measure is an attempt by Congress to get more Americans to save for retirement. As of this writing it is hung up in the Senate but elements of the bill will impact us all eventually and we are always wary of cute acronyms...

Do you know what “recency bias” is? And if so, when was the last time you had a heart to heart conversation with yourself about recency bias? Unlike lawyers in a courtroom, these are intended to be leading questions for a very good reason: little is more detrimental to a portfolio’s long-term health than the belief that the status quo is here to stay...

When will the next recession hit? This question is often the subject of speculation and guesswork; yet few have an honest answer. It is not a pessimistic query. Investment choices are as much psychological as they are strategic and tremors regarding recessions are real. It’s normal to think that after an abnormally long period of sub-par expansion that economic growth has to end…

Family dinners are likely to be much more interesting in the future. A debate about paying entitlements may be the topic de jour. In an era of increasing political polarization it has become too easy and too simplistic to paint the many combative issues with just a swipe of a broad “Blue vs. Red” brush stroke...

During volatile down periods in the market such as we saw in December, we were busy for many reasons. We worked with our clients to educate them about what was happening (markets go up and down) but also to perform constructive triage via Tax Loss Harvesting - an important element of a wise investment strategy meant to help save investors’ money over time...

What is one of the top challenges faced by any fiduciary in an era of 24/7 news bombardment? The answer is reminding their clients of this critical fundamental fact: most financial goals will take years of review, honing and attention...

For most people, housing transitions are infrequent, though hugely influential. After paying expenses devoted to taxes, savings, and children, housing-related expenses (mortgage costs, taxes, upkeep and insurance) typically consume the largest percentage of...

In July of this year, a major investment firm announced that ‘global markets were on track to be the most volatile since 2008’ 1 . For many, this was hard to imagine at the time. Now, not so much. October 2018 was a healthy reminder of what a correction feels like...

After lagging U.S. equities from 2012 through 2016, foreign markets had a huge boost in 2017, with the MSCI Emerging market index generating ~37% gains. 2017 was also the second year in a row during which all mainstream asset classes were positive. This was a fun result, especially for the disciplined and global investor, and one very few expected, given the geopolitical climate heading into 2017. And while investors may have hoped for the same events to transpire this year...

The reference dictionary.com defines the word “steward” as “a person who acts as a surrogate of another or others, especially by managing property, financial affairs, an estate, etc.”

The future landscape of the financial services industry continues to knock, knock, knock on the door today - and every day. Whether financial services firms will be welcomed in the future, or not, will likely determine if they will survive. How might the current firms even thrive in a tomorrow that is rapidly changing and being structured now is unknown...

Regular readers know that we are not shy about tackling controversial issues that impact both our clients and the larger society. The very real and potential generational battle about the future is one deserving of thoughtful consideration and discussion. This subtle clash is in the form of an inter-generational conflict between...

The myriad choices we make over a lifetime regarding our finances, education, health, family, social life, and career often have a cumulative and profound impact on our financial security and our ability to enjoy the fruits of our labor. In an era of uncertain, and likely lower, financial...

Just as we have questioned the true value and cost of higher education in an era of increasing student loan debt (and stagnating wages), how we handle the questions of where to live and how much to spend on housing should also come under scrutiny...

After almost 8 years in a U.S. bull market, there seems to be an incessant drumbeat for passive investment strategies by both institutional and individual investors alike. The ongoing debate around active vs. passive management stems from the fact that on average...

Never has the need for education been so great, yet never have the majority of options consumed such a high percentage of gross income, nor left students with such burdening sums of student loan debt. No state represents this conundrum better than New Hampshire which was recently ranked first for the highest average ...

Today, everyone has their own unique style of communication, and these various modes can be both a blessing and a curse for the engaged relationship. However, it is a real dilemma when a client chooses to sporadically siphon information using various mediums and neglects to openly and consistently communicate with those they’ve installed as partners in their financial security...

Imagine this scenario: A client has a number of various retirement accounts that have grown over decades of work. The client has divorced and remarried. Years later, her first husband passes away for any number of reasons (a busy life and career to name a few), yet remains the beneficiary of...

Of all the tools at the disposal of investors, few people recognize the financial significance of sequencing. Sequencing has the potential to add great value, but when ignored can be a devastating mistake for those seeking financial security and independence. In fact, when it comes to financial decisions, proper sequencing is as important as...

What does planning-dependent mean? First, it requires a sense of clarity about expectations, opportunities, risks, weaknesses and sequence. Whether it’s at the beginning phase of accumulating your first nest egg or later on in the process, it is critical to know why you are investing before considering what you should actually invest in...

Taxes are typically our greatest lifetime expense and we make every effort to mitigate their drag on our clients’ retirement portfolios. During our three decades of helping families in their quest for retirement security...

Historians will likely look back at this post-2009 period as one of coflation. A caveat is worthy here because if you haven’t heard of this, you aren’t alone. It is a new concept first mentioned in 2010, and expanded upon in our practice over the past 5 years. It helps us explain to clients what is happening today at both macro and micro levels...

Recently, I had the pleasure of an extended lunch with one of my all-time heroes, Paul Volcker, former Fed Chairman (1979-1987) and the first Chair of the Economic Recovery Advisory Board (2009-2011). I was curious to learn and discuss his opinion on many economic and political topics, but in particular how the Volcker Rule has played out as part of the larger Dodd-Frank financial reform legislation...

A picture of Jim Rothenberg has hung proudly in my office for many years. I considered Rothenberg as one of my earliest mentors in a distant way – we met five times in 30 years. His recent death at the age of 69 was not only stunning for family, friends, and admirers...

We recently read an academic article titled “Why Clients Fail at Retirement,” that caused us to reflect again on the many dimensions of the client/adviser relationship. The thoughtful article written by Evan Simonoff in Financial Advisor magazine...

After a five year bull market in U.S. equities, many investors may be questioning the purpose of owning anything other than a U.S. index fund – I understand, I’m human too. Anyone who hasn’t questioned the proposed benefits of global diversification...

We recently posted a MarketWatch column titled The Most Important Question to Ask a Fund Manager that outlines key criteria for selecting an asset manager. Chuck Jaffe at Dow Jones sums up the research succinctly: “…

Another hectic tax season is safely in our rear view mirror and we recently hosted a quarterly conference call for our clients to discuss the road ahead. Our client calls typically cover a wide range of topics including portfolio actions, economic commentary...

Taxes are typically our most significant lifetime expense (yes, even larger than our kids). That’s why I’m puzzled that there aren’t more discussions and articles about tax efficiency and investments—particularly when it comes to the issue of tax deferral.

What does it mean to be a feminist today, less than a century after women constitutionally secured the right to vote? And, what does it mean for men?

Confirmation bias, the tendency of people to seek and embrace information that matches their existing beliefs and paradigm, is one of the many flaws we humans have when it comes to using data in our personal and professional lives...

What is the difference between asset allocation and asset location? It is a simple distinction that too many investors, or even their advisors, don’t understand to their detriment...

Financial advisors should not only be strong strategists for their clients but be equally passionate educators. There is no subject that gets me going more than market volatility in general and in particular the potential dangers of high frequency trading (HFT). Volatility is a part of...

The ghost of systemic economic collapse in 2008 and 2009 loomed over the recent INET conference at Bretton Woods like the dirt crusted snow on the White Mountains. The Institute for New Economic Thinking’s second official meeting was held...

What is KIPPERS and why is it becoming an important term to know? It’s one of the most astute slang terms I’ve heard in years and is an acronym: Kids Invading Parental Pockets Eroding Retirement Savings – namely adult children who are, or should be, financially independent in their working years...

In his essay on “Self-Reliance,” Ralph Waldo Emerson wrote something dear to the heart of all financial advisors: “The voyage of the best ship is a zigzag line of a hundred tacks. See the line from a sufficient distance, and it straightened itself to the average tendency.”