The Impact of Biases on Financial Decisions
“History never repeats itself;man, always does.” – Voltaire In the complex world of financial decision-making, our choices are influenced by psychological biases that can lead to less-than-optimal outcomes. Anchoring,
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Business Succession Planning: Considerations for Every Stage
Depending on what stage you are at in the lifecycle of your business, business succession may have very different meanings. While revenue, expenses, profits, and opportunities for growth will always
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Concentrated Stock Positions: Considering Your Next Steps
Morgan Housel in his book, Psychology of Money, discusses a phenomenon that is the obsession of many but achieved by few: creating significant wealth, as quickly as possible. He says
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Bringing Clarity to Your Legacy
Warren Buffet once remarked, “Someone is sitting in the shade today because someone planted a tree a long time ago.” Planting and nurturing a tree to the point that it
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The Tax Cuts & Jobs Act of 2017: Gazing into the Sunset
All Good Things May Come to an End The Tax Cuts and Jobs Act of 2017 (TCJA) received a great deal of attention for providing significant income tax savings
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Tax-driven Retirement Plan Choices Post-SECURE 2.0
The past few years have presented a chaotic landscape of new rules and regulations related to federal income taxes. The recent passing of SECURE Act 2.0 in late 2022 created
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Planning to Protect Your Legacy
A vital part of comprehensive wealth planning is the estate plan. If you have invested the effort to define your goals, manage your cash flow, and save and invest toward
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Charting Your Financial Journey in 2023
Are you interested in moving your finances in a different direction in 2023? If so, it is time to plan your trip. And like all trips, your financial journey will
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Giving Strategies in a Challenging Market
As Thanksgiving approaches, our thoughts often shift to loved ones and our communities. The season of giving also begins with Giving Tuesday taking place the week after Thanksgiving. Many people
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Wealth-building Strategies to Consider in Down Markets
In times of stress, our natural reaction is to either run for the hills, fleeing from what threatens us or to freeze and do nothing, choosing to endure and hoping
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What’s Your Business Exit Strategy?
Critical Actions for Success Most business owners agree that having a formal transition strategy is important, yet 80% of owners don’t have one. It’s easy to delay the process,
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New Laws and Tax Strategies for 2020
June 2020 Over the past six months, Congress has passed two new laws that affect retirement, charitable giving, and estate planning. The new laws known as the SECURE (Setting Every
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Maintain a Disciplined Approach
April 2020 Mitigation efforts to slow the spread of COVID-19 are affecting the daily lives of people around the world. Some 2.6 billion people are now living under government
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A Message about the Market’s Reaction to Coronavirus
March 2020 Given recent events, extreme volatility, and understandable concern, we want you to know we are very much present and assessing new information as it becomes available. We
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Markets Soar in an Imperfect Economy
January 2020 The stock market reminded us again this past year that a perfect economy is not required to push stock prices higher. Rather, prices climb on signs of
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What the markets are telling us
August 2019 What is one to make of the markets over the past six months? First the stock market fell 20% and bond yields declined, both correctly predicting a
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Why Own Bonds?
August 2018 The first three quarters of 2019 have produced unexpectedly strong results for bond investors. Slowing global economic growth, declining inflation expectations, and accommodative central bank policies have
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Why Your Bonds Should Be Actively Managed
August 2018 Investors have shown increasing acceptance of passive investment strategies. Meanwhile, funds that employ active strategies—that is, those with managers who strive to outperform their benchmarks—have lost market share
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Understanding Your Risk Capacity
We all face risks as investors. Stock market volatility, interest rate changes, and permanent loss of capital are just a few of the many risks we confront in pursuit of
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The Spending Question
April 2018 How much can I spend each year without depleting my portfolio? It’s a question we hear often from clients. While the question is simple, calculating the answer
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Our Long-Term Outlook
January 2018 It’s not just people who like to take time off now and then. Apparently, volatility also enjoys some time off—at least that’s what this past year’s stock
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The Economics of Natural Disasters
October 2017 Before starting this quarter’s discussion, I first want to extend from all of us at Goelzer our heartfelt sympathies to those who have suffered due to the
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Managing Bonds When Interest Rates are Rising
April 2017 “Higher interest rates may be coming.” That was the forecast we shared on these pages one year ago. Our forecast was based on expectations for higher inflation
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Recent Stock Market Rally — Too Far, Too Fast?
January 2017 The U.S. stock market was both a volatile and rewarding place to invest in 2016. Thanks to a sharp year-end rally set off by the U.S. elections,
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Low Interest Rates Require More Savings
October 2016 Central bankers across the developed world continue to rely on low or even negative interest rates to spur economic growth. The resulting low returns on bank accounts and
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Focusing on Your Earnings
July 2016 The chart below shows both the monthly prices and forward 12-months earnings for the S&P 500 Index since January 2000. What the chart makes clear is the
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Higher Interest Rates May Be Coming
April 2016 Markets have a way of wearing people down. By moving in one direction or staying within a range over an extended period, markets convince people that the
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Too Much, Too Many
January 2016 Since the start of the industrial revolution, people have worked to become proficient at mining, manufacturing, financing, and selling all types of goods. It became evident this
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The Role of Stocks in Meeting Your Income Needs
November 2015 Many investors are concerned with how to secure a reliable and growing stream of income. At Goelzer Investment Management, we believe the key to meeting your income
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Managing through Volatile Markets
October 2015 Volatility is back. The stock market’s mostly smooth climb higher since 2012 was interrupted this past quarter with stock prices, at the worst point, declining by 10% over
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