Financial Planning Articles

While 2020 has certainly been packed to the gills with challenges, there are several factors in play that set up exciting opportunities for the giver in each of us this holiday season.

Charitable giving has been on the rise for years, with 2019 seeing the highest full year giving rates to date. Americans gave nearly $450 billion, up 2.4% from the previous year. Individuals made up 69% of the total giving, with corporations covering the remainder. If you had asked me in March if I expected that trend to continue into this year, I would have told you not a chance.

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Back to school looked much different this year than we are used to seeing, but of course that is no surprise in this 6th month of COVID-19 restrictions. With the challenges posed to education by this new environment, we felt it was good timing to pass along some information about 529 college savings plans and the ways in which their stipulations have expanded.

Take a look at the list below and let us know if you have any questions or comments. We appreciate your feedback, and we look forward to hearing from you.

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I identify as a “grim optimist.” I don’t recall when I first heard that term used, but it instantly struck me as a perfect descriptor for my general approach to life.

Readers of these missives know that one of the investment principles I espouse is a hard-nosed faith, grounded in historical fact, that no matter how challenging things might be at any given point, they will eventually get better. Honestly, I don’t believe one can make a successful long-term investor (in anything) out of someone who doesn’t hew to that belief. Whether one is leading a business, raising a family, or diligently investing precious capital to fund a multi-decade retirement, if we’re unable to retain that gritty faith through thick and thin, I think it’s impossible to maintain the discipline necessary to keep doing the right things, or to retain the patience required to avoid doing the wrong things – especially during periods when those very principles themselves appear to be threatened.

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It just doesn’t quite feel like summer this year. Maybe your plans got cancelled or, like me, you have kids running around the house while you’re trying to conduct a videoconference. We are all facing challenging times. Nevertheless, it is worth noting how this pandemic affects each of us differently. Those who find themselves in a life transition probably feel a heightened sense of anxiety. I particularly think of recent graduates, essential workers, and those most affected by this virus who don’t have the luxury of working from the safety of their home.

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In the first weeks of the shut down, I told my husband and friends that this is a good practice retirement. We are spending more time at home, alone or with our spouses. That is what retirement will be like and we need to think about if we are enjoying much of this.

My neighbor, who heard me say this in a mask, six feet apart said, “This is nothing like retirement! When I retire, I am going to go out to dinner! I am going to travel and see my kids! I am going to listen to live music! This is just staying home and going for walks. This is so boring I am crawling out of my skin!”

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Like many people recently, I’ve spent some time thinking about what’s important as we grope our way through this unnerving new existence. I’ve wondered what lessons we might draw from history, and what we could learn from the experiences of others that came before us. I have a few thoughts I’d like to share. I trust you’ll forgive me that they’re not primarily centered around financial wealth.

First, I’d like to say a sincere “Thank you” to all our clients and friends who’ve made such a special point to wish us well, to send us special acknowledgements of appreciation, or to ask us how we’re doing in this environment.

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On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES” Act) into law. The more than $2 trillion package seeks to address financial pressures facing individuals, businesses, and state and local governments due to the COVID-19 pandemic.

Below you will find a list of the CARES Act provisions we believe will most impact our clients. We have excluded the provisions that assist small businesses and instead only listed those that affect individuals.

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To all our precious clients and friends,

I am writing to you amid one of the most challenging environments any of us has experienced in a long, long time.

The fact is, in 28 short days our reality has suddenly changed. We must all confront that brutal fact, and not minimize the challenges ahead of us.

In the breathtaking space of just four short weeks, our individual and collective sense of safety, stability and control has been rocked by an accelerating series of events that are shaking the central pillars of our well-being.

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Some thoughts about current events, human behavior and the viral nature of panic.

I am not an infectious disease expert. I cannot speak with any authority on COVID 19, also known as Coronavirus. Even if I could, I’m quite sure there is nothing more that I could offer to the already-too-loud cacophony of the existing news coverage out there anyway, so I promise not to add to that din here.

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Happy New Year! All of us at Lucien, Stirling & Gray hope 2019 was generous to you in many, many ways, and that 2020 brings you health, prosperity and enough personal challenge and growth to make life interesting and fulfilling.

First, thank you. I feel incredibly fortunate to have been given the opportunity to serve all you clients of this firm who are, to a person, likeable, respectable and friendly. I feel equally blessed to be surrounded by a team of great colleagues who do everything possible to demonstrate just how honest, hard-working, fun-loving, self-effacing and professional they are in caring for your needs.

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Has there ever been a time when you wondered if some official thought it was more important to come up with a catchy acronym than it was to name a law sensibly in the first place? My apologies if I sound cynical, but I’ve been having those thoughts recently.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed and signed into law by President Trump at the end of December 2019. It enacts various reforms to retirement law that could affect your retirement plans and your estate planning.

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We hope you’ve had a wonderful Holiday Season so far, and we wish you the very best for a great New Year’s celebration and a healthy, happy and prosperous 2020! Since part of prosperity typically involves finances, what follows is a brief notice of various updates and changes to retirement plan contribution limits for 2020, and a short reminder of why it’s not necessarily good to file your taxes as quickly as possible.

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Warren Buffett once commented that, “the most important quality for an investor is temperament, not intellect.” Think about that for a moment. In other words, it’s not how smart you are or how quickly you process information that makes the biggest difference in the long run. What ultimately counts the most is how measured you are in your thoughts and how deliberate you are in your behavior.

Our behavior, what we discipline ourselves to do – and even more importantly, what we discipline ourselves not to do – when provoked by perfectly natural human tendencies to act out, is a far greater determinant of our long-term financial success than any other factor.

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As of October 31st, 2019 we will be leaving our long-time offices on Guadalupe St.

Please make note of our new address:
7800 N. Mopac Expressway, Suite 340
Austin, Texas 78759
(512)458-2517 | info@lsggroup.com

Our new offices are conveniently located and easy to find in Heritage Plaza located at the northwest corner of MoPac and Spicewood Springs Road. Please see the map below.

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For more than a century after Charles Darwin first introduced his theory of evolution, most scientists following in his footsteps mistakenly believed that evolution had always been a slow, steady process that occurred at the same barely noticeable pace over hundreds of millions of years.

Then, in the early 1970s, two paleontologists named Steven Jay Gould and Niles Eldredge introduced a new theory that turned that long-held understanding on its ear. Based on their study of the fossil record, Gould and Eldredge observed that species had indeed gone through extended periods of gradual change.

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Over the course of our years serving clients, it has been our honor to walk alongside people in some of the most difficult and complex situations they face, guiding them in financial decisions and being present to ease their concerns.

These situations bring with them the full range of human emotion, as you can imagine. Especially at big transition points, clients often come to us with mixtures of hope, worry, insecurity, and vulnerability. After all, personal finances are among the most sensitive and intimate subjects imaginable.

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Does anyone feel rich anymore? We meet with clients all the time who are wealthy by many standards. But they often say they do not live extravagantly and should not be considered rich.

A big factor in this phenomenon is that it is human nature to compare our lives “up” and not “down”. We are far more likely to point to someone who appears to have more of something than we do, and feel lacking in comparison, than we are to look at the many, many circumstances of people living with fewer resources and acknowledge just how wealthy we actually are. Rather than feeling grateful for the abundance in our lives, we’re left with a false, and nagging, sense of scarcity.

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Back in the old days, retirement wasn’t really a word, let alone an industry, or a lifestyle. You worked in agriculture and just gradually slowed down and then quit working and then you died. It sounds grim, but I like one idea from this.  It was usually GRADUAL.

Most often in modern America, the retirement process is abrupt. You work at least 40 hours a week and boom, you retire, or you are forced to quit, and then you are done working. Some of this is driven by pensions.

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One of the job hazards of having been a financial advisor for 16 years is that my boundaries about talking about money are not in line with the rest of society.  While I’m not that person who asks casual acquaintances how much they paid for their house (see also, Michael Scott in “The Office”), I have been known to ask my sister if she’s maxing out her 401(k), and to make sure my friends know

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With age comes opportunities! If you turn 50 any time during 2019 (even the last day of the year), you can now increase your 401(k) contribution to $25,000. You don’t have to wait until your birthday. Call your advisor today to help you adjust your paychecks early this year. See the following chart for official numbers and limits for those age 50+.

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