No Better Partner Than Schwab
It has been a wild last week in the financial sector. As you know from our Silicon Valley Bank blog earlier this week, there have been questions surrounding the confidence amongst the banking system and any financial institutions...Read More
College Planning 101 (2023 version)
Kids cost a lot. As financial planners, we know the expected average cost that a child can be to a family. As a parent, I know that the actual figure can be much more than that average. In this blog, I will talk about one of highest...Read More
Cryptocurrencies and digital assets have been around for over a decade and in that time they have grown from a speculative investment to a new asset class. Particularly in the last several years, we have seen tremendous growth and...Read More
ChatGPT- “Important as the Invention of the PC and the Internet”
That’s high praise from Bill Gates, co-founder of Microsoft (“MSFT”). Eric Schmidt, who ran Google (“GOOGL”), calls Chat GPT the “first broadly visible example of” what a human...Read More
The SECURE Act 2.0 and How it Applies to You
With tens of thousands of pages of legislation coming from Washington each year, it can be difficult to track what laws have a direct impact on you as an individual. Luckily, we’re here to give you the main points of an act...Read More
Considering Marriage? How Will Your Finances Change?
With Valentine’s Day around the corner and Cupid pulling out his bow and arrow, marriage proposals can’t be far behind. The cost of the wedding is the easiest part. The legal act of marriage, as compared to living...Read More
Important Info for This Tax Season
Happy New Year! It’s amazing that we’re already in the second half of January! This is also the time to get thinking about taxes if you haven’t done so already. That said, we have put together some relevant...Read More
New Year’s Resolutions: Focus on Success for the Long-Term!
Happy New Year. Hope you had a great holiday. It’s that time again-early January. Many of us are making our 2023 resolutions. Unfortunately, almost no one keeps their resolutions. Here are the facts (compliments...Read More
DWM’s 4Q22/Year-End Market Commentary: The Start of a New Day???
The theme of last quarter’s market commentary was that it’s always darkest before the dawn. We talked about how badly the markets had fared so far in 2022 and how gloomy consumer sentiment was. If you look up...Read More
SEASON’S GREETINGS FROM THE DWM TEAM!
During this season, we take time to reflect upon the good things we have like our client relationships. We appreciate all our clients and thank you for your trust and continued support over the years! We would like to wish you a Merry...Read More
Cuban Continues Making Waves in the Pharmaceutical Industry
At DWM, we are always looking out for ways to save money for our clients. Earlier this year, we wrote about Mark Cuban’s new pharmaceutical company “Cost Plus Drugs”. Even in this environment of unusually high...Read More
Federal Reserve – What, Why, & How?
Throughout 2022 the Federal Reserve, rate hikes, and inflation have been the subject of many conversations. While everyone has been hearing about these topics, it can be unclear what they really are and how they are connected to each...Read More
Ask DWM: What is an Inverted Yield Curve and What Does it Mean to Me?
Great question. Today, long-term bond rates are well below short-term rates. This is not “normal” and therefore is called an “inverted yield curve.” This condition provides important...Read More
DWM Charleston Annual Appreciation Event/DWM Says Thanks!
Happy Thanksgiving!DWM would like to wish everyone a Happy Thanksgiving! We hope you have a wonderful time with family and friends. We value you as clients and appreciate all your business and personal relationships!Over the weekend,...Read More
Midterm Elections 2022-Too Close to Call- Impact on Markets?
The final results of the midterms may not be known for weeks and may even extend to a Senate run-off election in Georgia on December 6th, 4 weeks away. Even so, it’s valuable now to look at historical results before and...Read More
Dogs in the Workplace and their Effect on our Mental Stability
Does your dog give you those big, sad puppy dog eyes as soon as you touch the doorknob to leave for work? Do they nudge you with their nose and try to dart out the door as soon as you open it? Well, I am here to give you some great...Read More
Social Security Benefits Going up 8.7% in 2023!
70 Million Americans (roughly 20% of our population) will be getting a raise in their social security checks in January 2023. The Cost of Living Adjustment (“COLA”) will be 8.7%, the largest in 4 decades. When...Read More
The Many Benefits of Volunteering
People often think about volunteering in terms of giving one’s time to benefit others. But in fact, many volunteers find they benefit greatly themselves! The rewards of volunteering can be felt whether you have lots of free time...Read More
DWM’s 3Q22 Market Commentary: It’s Always Darkest Before the Dawn
Hate to be the bearer of bad news, but if you haven’t been paying attention to anything Wall Street, it has been horrific. In the twenty plus years that DWM has been in business, we have never reported intra-year returns like...Read More
Strong US Dollar Helps Reduce Inflation
The U.S. dollar (“USD”) is the strongest it has been in two decades and will likely get stronger in late 2022 and into 2023. This is impacting the world in positive and negative ways. It certainly is helping to...Read More
It’s Time for 2022 Y/E Tax Planning
Hopefully your 2021 income taxes are filed. How about 2022? Now is the time for planning for 2022 to know where you are and look at possible tax savings. We know you can extend the filing date of tax returns but what...Read More
DWM Orion Client Portal
Hello DWM friends and clients! We have a fun blog for you today. Here at DWM, we pride ourselves in our firm services that range from investment management, estate planning, taxes, all the way down to other value-added services like...Read More
Some Housing Changes in the Works
Almost 8 billion people live on our planet Earth. That’s up from 2.5 billion “just” 70 years ago. Our population in the U.S. is 335 million, compared to 150 million in 1950. Land and housing continues to...Read More
Not All Tax News is Bad News
No one likes talking about taxes, no one likes doing taxes, and certainly no one likes to pay taxes. In fact, one of the reasons that America exists today is because our Founding Fathers were fed up with the taxes imposed on them by...Read More
Inflation Reduction Act (“IRA”)- Current Summary
The Senate on Sunday passed the IRA by a 51-50 vote. It will be voted on later this week in the House and could be signed into law in the next week or so. Frankly, it may not have a current impact on inflation. Rather, its...Read More
Tracking for Security and Success
In the modern world, tracking is everything. Athletes track their stats, environmentalists track the climate, the government tracks our defenses, computer scientists track data, astrologists track stars and any meteors that may be a...Read More
Ask DWM: Is a Recession Coming? What Should One Do?
Very good questions. We may be in a recession right now. One might be here later in 2022 or 2023. Let’s first review the definition of a recession and what it normally looks like. Then, we will look at where the...Read More
Try The “New Wonder Drug”- Walking!!
When’s your next physical exam coming up? Don’t be surprised if your doctor gives you a simple no-cost prescription- get out and walk. And, if you are walking, walk some more. The simple activity is described by...Read More
DWM’s 2Q22 Market Commentary
Hope you had a nice 4th of July holiday weekend! We had an exciting drive back from a relative’s lake house. Perfect timing to drive home between nine and ten o’clock given that’s the popular fireworks display time....Read More
Does Your Investment Policy Fit with the Fed’s Monetary Policy?
The Federal Reserve struck a big blow yesterday in its attempt to bring inflation under control. Their monetary policy was to increase benchmark rate by .75% now and likely another .75% next month. The Fed expects with...Read More
The American Red Cross
At DWM, a great amount of our clients are charitable givers, which makes us very proud advisors! Times are tough and the world has been pretty upside down between the Stock Market Correction, Covid lingering, and recent tragedies that...Read More
What Happens if we Fall Into a Bear Market?
It’s been a very discomforting start to 2022 for anyone invested in the stock market. It seems like the bad news just never stops…“Russia invasion of Ukraine wears on, more casualties…”“Inflation...Read More
Warning: When Investing, Keep Your Emotions in Check
Reducing Elder Financial Abuse-Provide a “Trusted Contact”
It's Time for an Insurance Review
Tax Trivia: 101
DWM’s 1Q22 Market Commentary
Mark Cuban is Mad About Healthcare and Maybe You Should Be Too
Economics of March Madness/Sports betting
Welcome to the Metaverse
Russia/Ukraine and What It Means for Your Portfolio
Long Term Care- Buyer Beware
Financial Milestones for Every Decade
Big Tech is a Big Deal
IMPORTANT INFO FOR THIS TAX SEASON
DWM's 4Q21 / Year-End Market Commentary
Time to Make and Keep Your 2022 Resolutions!
Celebrating over 20 Years of Holidays Together!
Buster Brown Says Thanks- Last Sunday in I'on
Social Security is up 5.9% and Medicare Premiums are up 14.5%
Great news. Approximately 70 million Americans will see a 5.9% increase in their social security payments in 2022. But hold on, even more Americans will get a 14.5% increase in their Medicare Part B premiums in 2022. And, since Social...Read More
Crypto and the Emerging Technology Behind it
Editor’s Note: Our blog this week is authored by our newest DWM member, Parker Ring. Parker graduated in May, 2021 with honors in finance and accounting from Clemson University, started with DWM in July, and is currently working...Read More
Worried About High Inflation?-Focus on Your Real Return
Inflation is the percentage that prices for goods and services are rising. When inflation increases beyond the median level, it scares many investors. Inflation reduces the purchasing power of your assets, unless, of course, your...Read More
Doing Halloween, Right
Halloween is a worldwide Holiday that began as a Celtic Festival of Samhain, when people would light bonfires and wear costumes to ward off ghosts. When Pope Gregory III designated November 1 as All Saints Day with traditions of...Read More
What Will the Job Market Look like in 20 years?
The labor markets are in the midst of a huge disruption. The September Non-Farm Payroll Report released last week showed three key numbers: A .4% drop in the unemployment rate, from 5.2% to 4.8%. A 4.6% wage growth (annualized) And 11...Read More
DWM's 3Q21 Horrific Market Commentary
Happy October, the month home to that special holiday dedicated to spooky spirits and events: Halloween. It’s also that time of year when we get the annual ritual of horror movies. I loved growing up watching these flicks and...Read More
It's 2021 Tax Planning Time!
With just three months left in 2021, there is no better time than now to look at your 2021 taxes. Almost everyone has already filed their 2020 income tax returns and it’s good to review 2021 year-to-date, do a tax projection for...Read More
Ask DWM: How are American Businesses Doing?
There will always be lots of noise in the investment world. Lots of noise about China and its potential problems, lots of noise about America’s economy and concerns about it, lots of noise about what is happening in Washington....Read More
Finding Security in the Digital World
It seems like every week or two there is another data breach or cybersecurity incident in the headlines. The staggering numbers of compromised accounts and rapidly evolving methods of attack can make it easy to feel helpless against...Read More
Catch-Up Contributions: a Happy 50th Birthday, my friends!
I personally can’t believe it, and certainly don’t feel it, but June 11, 2021 was a milestone day for me: my 50th birthday! A 50th birthday can mean different things to people – from happiness to sadness, excitement...Read More
Make Better Decisions by Subtracting, Not Adding
From time to time, we humans do make bad decisions. Often biases and faulty judgment get in the way. Dr. Daniel Kahneman has been trying to help us improve our thought processes for decades. He and Aaron Tversky won a Nobel Prize for...Read More
Economic Effects of the Olympic Games
The 2020(1) Tokyo Olympic Games wrapped up Sunday night, and the United States of America won the overall country medal count with 113, and overall gold medal count with 39. China, our fiercest competitor, came in 2nd with 88 total...Read More
Climate Change's Impact on Crops and Humans
How about a wonderful bottle of Pinot Noir from British Columbia? How about a baguette made with wheat grown in Siberia? Perhaps a marvelous bottle of champagne from the UK? Or some avocados and mangos, typically grown in the tropics,...Read More
The 50/30/20 Rule
A budget. It’s not magic, but it represents more financial freedom and a life with much less stress. We all know we "should" be following a budget, but not many do. Budgeting is not just about saving money, it is about taking...Read More
Are you Ready to “Deal with the Devil”?
Most everyone knows that when you reach age 72, you have to start taking money out of your Individual Retirement Accounts (“IRAs”) and pay tax on it. These funds were created as 401(k) or IRA contributions and they saved...Read More
Where is Inflation Headed?
Inflation is on the rise-big time. June’s Consumer-Price-Index increased 5.4% from a year ago- the highest 12 month rate since August 2008. Prices for used cars and trucks went up 10% in one month, primarily due to a shortage of...Read More
DWM's 2Q21 Market Commentary
Happy belated 4th of July! The second quarter was full of fireworks indeed as the stock market rocketed up! With Covid in retreat and many Americans heavy with cash thanks to stimulus measures, the economy is rocking. They’re...Read More
Ask DWM: “Should I Rent or Buy My Next Home?”
For those with a choice, there’s a lot to consider. Renting requires less responsibility and provides flexibility. Nevertheless, buying can be a profitable long-term investment with tax benefits. Further, the decision may vary...Read More
What Will Cities Look Like in the Future?
The COVID pandemic has had a huge impact on all of us, even if we stayed healthy and kept our jobs. It’s fair to say, that getting “back to normal” is an unlikely future outcome. With innovation and technology...Read More
Estate Tax Planning- Wait or Look at it Now?
The Treasury Department released its 114 page “green book” two weeks ago. It included its proposals on estate taxes. Back on April 21st, our blog “Biden’s Tax Plan-Are you Ready?” focused primarily on...Read More
Movin’ & Shakin’ at DWM these days: Farewell to Jenny & Hello Chandler & Cheryl!
Last month, our South Carolina location moved from downtown Charleston over the Cooper River Bridge to Mt. Pleasant. See our May DWM-South Carolina Moving blog for more details. In other DWM news, super teammate, Jenny Coletti, will...Read More
Wall Street isn’t Main Street, Part II
A year ago at this time, the economy (“Main Street”) was in a tail spin brought on by Covid. Hopes of a quick recovery from it were fading away as scientists and many of us realized that this pandemic would continue on for...Read More
DWM-Charleston is Moving- Over the Cooper River Bridge
Many of you know that Charleston is flanked by two rivers; the Ashley River on the west and the Cooper River on the East. Charlestonians have been known to say (using a very “Southern accent”): “Charleston- where the...Read More
How Long Will You Live?
The cakes above had 95 candles. It marked the birthday celebration for a wonderful lady, Avis Roodhouse, Elise’s maternal grandmother. The flame from the candles was so hot that day that it melted the icing while the crowd...Read More
Biden’s Tax Plan - Are you Ready?
We’ve all heard that President Biden is looking to raise taxes. No surprise. The U.S. budget deficit grew to a record $1.7 trillion in the first half of the fiscal year, as a third round of stimulus payments sent federal...Read More
DWM’s 1Q21 Market Commentary
We’ve come a long way on this pandemic. Over 50% of Americans have been either infected already by Covid or have received one vaccination shot. It shouldn’t be too long before the US hits the herd immunity level which...Read More
Protecting Your Prized Possessions
After over a year of social distancing and months of lockdown as a result of COVID–19, consumers have been forced to shop differently and behave differently. Many of us have picked up new hobbies and our spending habits have...Read More
Your NCAA Brackets- Feeling Lucky??
The NCAA tournament field was selected on Sunday. I will be paying more attention than usual because my alma mater, University of Illinois, after 15 lean years, is again one of the top teams. I’ll watch their games and others...Read More
Your “Virus Passport” May Be Available Soon
Let’s face it. We’re all ready to start getting back to some form of the old “normal.” COVID-19 has been restricting us for over a year and, now that almost 3 million Americans a day are getting vaccination...Read More
College Planning for Today
Kids cost a lot. As financial planners, we know the expected average cost that a child can be to a family. As a parent, I know that the actual figure can be much more than that average. In this blog, I will talk about one of highest...Read More
Stock Market Bubble?
DWM’s year-end market commentary a few weeks ago talked about U.S. equity valuations being quite high. Since then, we have witnessed the huge ups and downs of GameStop, a struggling video game retailer, whose shares were driven...Read More
Mental Health During Covid-19
As hard as it is to believe, we are circling in on 1 year of the Coronavirus taking over the world and everything around us. In March 2020, the World Health Organization declared COVID-19 a world pandemic, and no one knew it was going...Read More
Succession Planning and Expanding Ownership
Last week, Amazon founder Jeff Bezos announced that he will step down as chief executive. Amazon has come a long way in 30 years; from an upstart online bookseller into one of the world’s most popular internet marketplaces. Most...Read More
Is it Time for the Game to Stop?
A market frenzy has pushed the shares of a 1980's video game retailer, GameStop ticker symbol: GME, up more than 1,700% in just a few months. Like buying a mega millions lottery ticket for a chance to win a pot that reached close to a...Read More
The Biden Tax Policy is Coming- Plan Now!!
We have a new President. We wish him well. President Biden, at least for two years, has a Democratic majority in the House and the Senate. There will likely be some major changes in tax policy during this time. While we don’t...Read More
4Q20 & Year-End Market Commentary
It’s over! After one of the most challenging and bizarre years in modern history, 2020 is finally over! But, with COVID cases accelerating and as we saw from this week’s “chaos in the Capitol”, our world is far...Read More
New Year’s Resolutions for Happiness
Happy New Year. The ancient Romans, obviously after too much partying in December, dedicated the first month in the New Year to Janus and promised this two-faced god to do better. 2,000 years later, we continue this pagan rite....Read More
COVID Stimulus 2.0- Relief for Tens of Millions of Americans
The U.S. stock markets hit new records Monday based on President Trump signing a massive $2.3 trillion spending bill: $900 billion for virus relief and $1.4 trillion funding of the federal government through September 30, 2021. The...Read More
Happy Holidays from the DWM Team!
2020 has been one wild ride and we at Detterbeck Wealth Management appreciate all of our clients’ continued trust and support this year! We enjoy working with every one of you, and are excited for a wonderful 2021 together. Have...Read More
The Wave of Fraud May be Coming Your Way – Tales from the Tape
Guess what’s on my Christmas wish-list? Already have my Peloton Bike and my outdoor turkey fryer. No, this year, I want a non-washable pen. That’s right – a non-washable pen. And why would one want a non-washable...Read More
2020 Tax Year-End Planning: Planning for Potential Change
We hope everyone had a safe and healthy Thanksgiving holiday. Like many aspects of life in 2020, this Holiday Season will represent a massive change from typical tradition as the impact of COVID-19 continues. Combined with the...Read More
The Long-Term Impact of COVID-19 on Retirement and Aging
News of the coronavirus vaccines moving closer to approval is fantastic. Hopefully, in the next twelve months, COVID will be under control. Even so, the pandemic’s impact will not be soon forgotten. The virus has accelerated...Read More
Election Results and Market Impact: FAQs
Well, an anxiety-filled election week has come and gone, but many questions remain. Schwab just released a very good piece answering some of the most frequently asked questions that they and we at DWM are both hearing. Please click...Read More
Pandemic Spreads its Roots: College Costs Cut
Since 1980, the cost of a higher education has skyrocketed. According to data from Business Insider, the average price for tuition, room & board, and fees a four-year college was $9,438. Today for the same in-state college the tuition...Read More
House Comes Complete With Year-Round Skeleton!
The housing market is soaring all across the country. It’s a sellers’ market. So much so, that sellers are requesting special oddball contingencies and anxious buyers are agreeing. In Philadelphia, for example, a first...Read More
Are You Wonderful To Work With?
According to the Center for Infectious Disease Research & Policy and The Common Wealth Fund, over 49 million people filed for unemployment so far during Covid-19, and only 18 million are expected to be temporarily unemployed. Being a...Read More
The 2020 Election and the Markets-You Need to Vote!
Who’s going to win? What will that do to the markets? In the long-run, the markets have shown it doesn’t make a difference to them. If you line up all two dozen presidential terms of our presidents from 1933 to 2019 in two...Read More
DWM 3Q20 Market Commentary
Remember that 1995 OMC song “How Bizarre”? Did OMC think of 2020 when they wrote that? What a bizarre year 2020 has been. Living through a pandemic has affected all of our lives in so many ways that it’s challenging...Read More
The Rise of the 2020 Day Trader: Individual Investing & The Risks Within…
Charmed by colorful trading apps, a pandemic that has left many stuck at home, and a growing list of popular companies to invest in: day trading and individual investing are on the rise. Trading activity among individuals started to...Read More
Probate Stinks: How Trusts Can Help Your Family Avoid It, But Don’t Forget To Re-title…
Making sure your assets are titled correctly can make a world of difference for your heirs. By creating revocable (living) trusts and then funding those trusts, you can avoid probate. We’ve had clients ask why we make such a big...Read More
What you Need to Know about the Social Security Payroll Tax Deferral Program
We’ve received some questions about President Trump’s executive order August 8 to defer employee payroll taxes to provide economic relief in response to the COVID-19 pandemic. Generally, many companies, large and small,...Read More
7 Personal Finance Lessons from Benjamin Franklin
Benjamin Franklin led an amazing life. From humble beginnings, he became a successful printer, newspaper man, author, inventor, diplomat and statesman. His great success came from living the virtues of frugality and hard work. He used...Read More
Why Labor Day is Worth Celebrating
The first Monday in September is one of the most anticipated holidays of the year, Labor Day! Many people cherish this as one last long weekend before summer ends, but what is the real significance of Labor Day? The United States...Read More
State-Mandated Retirement Options: A Look into Illinois’s Secure Choice Program
Signed into law in January of 2015, the Illinois Secure Choice Retirement Savings Program is one of the frontrunners leading the charge in affording those working individuals who do not have access to a retirement savings plan through...Read More
Could Estate Taxes Be In Your Future?
There are three key aspects to estate planning. First, your objectives for your assets and legacy at your passing need to be documented appropriately. Second, the titling and beneficiary designations of all of your assets need to be...Read More
Give Me Some CREDIT!
Last December the New York Post reported that in a study of 2000 Americans, 13% had no idea what their current credit score is, 76% did not understand the ramifications associated with a bad credit score and 8% really did not even...Read More
Buying Bicycles “Like Toilet Paper”-Today and 125 Years Ago
COVID-19 has sparked a huge demand in bicycle sales. Demand is coming from fitness junkies whose gym is closed, commuters fearful of public transportation, and families going stir crazy inside their homes during the coronavirus...Read More
The History of Black Wall Street
In 1921, Tulsa, Oklahoma’s Greenwood District, known as Black Wall Street, was one of the most flourishing communities in the United States. This summer marked the 99th anniversary of the Tulsa Race Massacre, a fatal event...Read More
Follow the Money - China Working to Make Inroads on Greenbacks!
When the world’s investors get nervous about their money, they put it in the safest place they know, the United States Dollars (“USD”). When the COVID-19 pandemic erupted earlier this year, U.S. Treasuries were the...Read More
Make Sleep a Priority, Particularly During Covid-19!
We’ve all heard the expression: “You can sleep when you are dead.” Sleep science shows us that is wrong- particularly now. Sleep is central to your health and performance. Though we remember little from our time...Read More
DWM 2Q20 Market Commentary
Seems like an eternity since our last quarterly market commentary. Frankly, there was a lot of fear in the air back then as we started the second quarter of this 2020 calendar year, which for many of us will go down as the most...Read More
The Stock Market is Not the Economy
The connection between the markets and the economy was likely forged by the Great Depression. First, the markets plunged a huge 68% in 1929 and then the economy hit bottom for almost everyone. Even in the 1950s and 60s, it was easier...Read More
FINANCIAL LITERACY – IMPORTANT NOW MORE THAN EVER
As the coronavirus pandemic changes our view on normalcy amidst global economies, the ramifications of inadequate financial knowledge may display a population that is underprepared to face unprecedented financial challenges. Nearly...Read More
FINDING THE GOOD
Covid-19 has flipped the world upside down and people are having trouble finding positivity in a time that is so uncertain, lonesome, and frightening. In the beginning of 2020, when the Coronavirus started secluding people into their...Read More
IT'S THE PERFECT TIME TO HELP YOUR COMMUNITY
The Coronavirus crisis has decimated lives and livelihoods across the globe. Charities are struggling to help the most vulnerable and are having a hard time keeping up, while many not-for-profits across the company are in precarious...Read More
TRADITIONAL VS ROTH 401(K): WHERE SHOULD I BE PUTTING MY MONEY?
Recently, we have had quite a few conversations reviewing the age-old debate of whether Roth 401(k)s or Traditional 401(k)s are better. Well perhaps not age-old considering Roth 401(k)s came out in 2006, but still a common question...Read More
ARE OFFICES BECOMING EXTINCT?
Berkshire Hathaway held their annual meeting on Saturday- via live stream from an empty arena. For the event, Warren Buffet put on a tie for the first time in seven weeks. During the four hours of the presentation, Mr. Buffet...Read More
THE HEALTH IRA
Health savings accounts (HSAs) are tax-deductible savings plans that allow you to put aside savings for future health care expenses. HSAs were introduced in 2004 as part of the Medicare Prescription Drug, Improvement, and...Read More
THE CORONAVIRUS HITS HOME - NOW IS THE PERFECT TIME TO REVIEW YOUR ESTATE PLANNING
The Coronavirus health emergency is a huge reminder that life is fragile, precious, and unpredictable. The daily increasing numbers of COVID-19 cases and deaths remind us that we are all mortal and we all need to be prepared. We...Read More
ZOOM - A SAVING GRACE DURING THE COVID-19 CRISIS
When Social-Distancing was first announced, a lot of people did not take it seriously. As the weeks went on, and we headed into March, we realized this Covid Crisis was not letting up anytime soon. Businesses were panicking, schools...Read More
DWM 1Q20 Market Commentary
Obviously, our market commentary’s purpose is to address the state of the markets, economy, and all things financial; but it goes without saying that our first and foremost concern is that of your health. One’s wealth takes...Read More
Perhaps a Silver Lining - Time to Refinance?
The coronavirus has been brutal. There are now over 1 million cases and 54,000 deaths worldwide. Left to itself, the covid-19 pandemic doubles every few days. Millions have lost their jobs. Most of America is on lockdown. We’re...Read More
CARES Act Brings "Pennies from Heaven"
We hope each and every one of you and your families are safe and healthy. In response to the unfolding COVID-19 global pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act last Friday....Read More
Keep Your Distance - Socially and From Cyber Fraud
The bear economy is creating a bull market for cyber-crooks. An unfortunate side effect of economic downturns is an increase in cyber fraud. Worldwide cyber fraud has hit an all-time high. For the first time on record, data theft has...Read More
Why this Bear Market Feels so Different, and What Not to Do Now
It’s official - the almost 11 year bull market is over thanks to a couple of “black swans”: COVID-19 and the oil price war. Quick terminology recap here: Pull-back – a falling of a price from its recent high,...Read More
Technology and Real Estate Collide: Will We be Trading Homes like Stocks in the next Several Years?
The total wealth of Americans is $113 trillion. The major categories are real estate, both homes and commercial, of $50 trillion and stocks and stock funds of $35 trillion. Technology has had a huge impact on stock trading. 50 years...Read More
Coronavirus and the Dow down 1000+ Points: Time to Panic?
The new coronavirus, dubbed COVID-19, has led to 80,000 infections and over 2600 deaths since originating in Wuhan, China in December 2019. This outbreak which the World Health Organization (“WHO”) has said is a...Read More
Women in the Workplace
As a female in a modern day workplace, my experiences have been mostly positive, although I am still in shock of things said to me, or how I have been previously treated in professional settings. Since coming to Detterbeck Wealth...Read More
A Heart for Splurging: How Budgeting & Expense Tracking can Free up Your Time & Money
With love in the air on Valentine’s day, endless amounts of consumers will pile into stores, buying up cards, chocolates, or mega-sized teddy bears to share with the ones they love. In fact, on average Valentine’s Day...Read More
The Art of the Notebook
What's your favorite organizational system? How do you stay up to date with the important items in your life? Maybe you don't even have a system. We all juggle a lot of information on a day-to-day basis. From time to time, everyone...Read More
At 80, "Successful Ager" Jack Nicklaus Remains as Relevant as Ever
Golfing great Jack Nicklaus turned 80 last week. His drives aren’t as long anymore- Gary Player can now outdrive him. Jack stepped away in 2018 from day-to-day operations of his companies which build golf courses all over the...Read More
MLK Would Have Loved Finland
We hope everyone enjoyed the Martin Luther King, Jr. holiday on Monday. We hope you spent at least a few minutes thinking of Dr. King and his legacy. His stirring words and writings remain as relevant today as they were 50 years when...Read More
DWM's 4Q19 Market Commentary & a Look Into 2020
Happy 2020! No doubt you have heard the term “20/20 vision” over the last several weeks as we enter this new decade and all of the imagery that comes with it. As you probably already know, 20/20 vision is synonymous with...Read More
Breaking News - How the SECURE Act Will Impact Retirement Plans
Happy New Year!! We hope everyone had a great holiday. Everyone at DWM certainly did. In late December, Congress’s year-end spending package was signed into law and it included the SECURE Act which has made some significant...Read More
Is "Free" Stock Trading Really Free?
Press Release: On December 3rd, SC Public Radio Host interviewed Les Detterbeck. This message, that there is no ‘Free Lunch,’ is extremely important. Click here to listen to the audio, and or please read the transcript...Read More
The "Nastiest, Hardest Problem" in Retirement
Running out of money in retirement is, according to Nobel Prize winning economist William Sharpe, the “nastiest, hardest problem” in retirement. Professor Sharpe has spent his career thinking about risk. His work on the...Read More
Old Adages Die Hard: What Worked in the Past May Not Work Today!
More people are renting (not buying) houses, particularly millennials. The old adage that “paying rent is foolish, own your house as soon as you can” is no longer being universally followed. Lots of reasons: cost of...Read More
History of Veterans Day
Happy belated Veterans Day! We hope everyone had a nice and safe Holiday! It is always great to bundle up this time of year and spend time reflecting on the sacrifices these men and women have made for us. As we enter the big holiday...Read More
Old Adages Die Hard: What Worked in the Past May Not Work Today!
More people are renting (not buying) houses, particularly millennials. The old adage that “paying rent is foolish, own your house as soon as you can” is no longer being universally followed. Lots of reasons: cost of...Read More
Equity Trades are Free - But there is no Free Lunch
Before 1975, brokers had it really good. Commissions were fixed and regulated-at very high levels. It would sometimes cost hundreds of dollars to buy 500 shares of a blue-chip stock. That changed in 1975 when the SEC opened...Read More
Climate Capitalists to the Rescue?
Record heat has hit the South. On October 1, it was 101 in Montgomery, AL. Record highs were hit in AL, TN, MS and KY. An acute lack of rainfall has dried out the Southeast as well and residents and farmers are hurting. Planet Earth...Read More
Indiana Jones and the Fountain of Wealth
With current markets swirling with questions of trade deals, recessions, inverted yield curves, and various other political and financial uncertainties, should we be fearing a near future “Temple of Doom” scenario like...Read More
Kraft Heinz (KHC) and Unilever (UL) have many things in common. Both companies own hundreds of global consumer brands- KHC includes not only Kraft foods and Heinz Ketchup but also Planter’s peanuts and Grey Poupon mustard....Read More
Dealing with Investor Anxiety - Think Long-Term
Stock prices reflect a mix of emotions, biases and rational calculations. The bond market reflects the economy. Historically, bond markets had done a better job in predicting recessions. The two big bond stories last week were 1) the...Read More
Equifax's Big Payback: Should you File a Claim?
It was just two short years ago when Equifax went public with the realization that access to about 150 million users had been obtained by a third party still unknown to top security officials. Without knowing the perpetrators, motive...Read More
Did you Ever Dream that You Forgot Your Pants? No Problem.
Have you ever dreamed that you are walking into a college final exam and you have done no studying for it? Better yet, in the dream, have you walked into the exam and forgotten your pants? I can tell you from personal experience, I...Read More
Economy Celebrates 10 Years of Growth: Is it Time to Party?
Next week will mark the 121st month of the current bull market- the longest business cycle since records began in 1854. Based on history, a recession should be starting soon. Bond rates now form an “inverse yield curve”...Read More
DWM 2Q19 Market Commentary
Summer is finally upon us! Weather is steamy, kids are out of school, and it’s the midst of carnival season. Merriam Webster has several definitions of carnival including: An instance of merrymaking, feasting, and masquerading...Read More
Real Estate: Time to Sell That Large House?
American homes are a lot larger than they used to be. In 1973, the median size of a newly built house was 1,500 square feet. In 2015, that figure was 2,500 sq. ft. - 67% more. Plus, with smaller families, there is lots more room per...Read More
Your Digital Legacy: How to Protect your Virtual Fooprint
The new digital age has seen the onset of countless new conveniences whether through online shopping, banking, entertainment, or social networking. We can now order food and have it delivered to our door, transfer money at the push of...Read More
It's Summertime! Let's Talk Baseball: It's More Than Just a Game!
First, full disclosure. I love baseball. I was born 2 blocks from Wrigley Field and walked to Cub games alone when I was 7 and sat in the bleachers. As a lifetime Cub fan it’s a mixed blessing- a life of both affection and...Read More
The SECURE Act - Update on Retirement System Legislation
Two weeks ago, the House of Representatives almost unanimously passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, adopting their version of long-awaited retirement legislation that can now be introduced for...Read More
The Beauty in Roth Accounts
The most common type of retirement accounts are traditional Individual Retirement Accounts (IRAs) and company sponsored traditional 401(k) plans, both of which are funded using pre-taxed dollars. The goal of these accounts is to...Read More
Memorial Day 2019
In the spring of 1915, shortly after losing a friend in Ypres, a Canadian doctor, Lieutenant Colonel John McCrae was inspired by the sight of poppies growing in battle-scarred fields to write a now famous poem called 'In Flanders...Read More
Your Money and Your Estate Taxes - Impacted Greatly by Your Withdrawal Rate
Historically, retirement worries have centered around two major questions: 1) Will I run out of money and 2) Will my heirs owe estate taxes? Withdrawal rates in retirement certainly have a huge impact on your money and, in the future,...Read More
Ask DWM: Should We Invest in Real Estate?
Great question. Let’s start with some basic concepts. Real estate is an illiquid investment. You can’t buy or sell it in a day or two like liquid investments. It is somewhat uncorrelated to the stock market returns- which...Read More
Leverage for the Next Generations: How to Build Credit Effectively
According to a study done by Sallie Mae recently, the younger generations, from teens to young adults, are much more likely to make payments by debit card, cash, or mobile transfer (Venmo, Paypal), than by credit card. In fact, only...Read More
Billionaire Investor Ray Dalio: “Capitalism Needs Reform”
Ray Dalio is the founder of Bridgewater Associates, one of the world’s largest hedge funds. Bloomberg ranked him as the world’s 79 wealthiest person earlier this year. Like many of us, Mr. Dalio was “fortunate enough...Read More
NOT ALL WINNERS: TAX REFUNDS DOWN $6 BILLION FROM LAST YEAR
At the end of March, 2019, the Treasury had issued $6 billion less in tax refunds than the same period a year ago. The refunds still have averaged around $3,000 each and the number of returns processed is similar to last year, but...Read More
DWM 1Q19 Market "Madness" Commentary
In basketball, March Madness is a big deal. For those of you who aren’t familiar with the term, March Madness refers to the time of the annual NCAA college basketball tournament, generally throughout the month of March. In the...Read More
When Your Plan Ends...
As our clients know, we use MoneyGuidePro (MGP) as our financial planning software tool and we generally review our clients’ particular plan with updates when we meet. This allows us the opportunity to discuss any changes in...Read More
Ask DWM: Should I Consider Investing in Marijuana?
In 1996, California became the first state to legalize the use of medical marijuana. This began, for many, the first opportunity to legally invest in this industry. In 2012, both Colorado and Washington State legalized the use of...Read More
Money and Time
As the old saying goes, "Time is Money." One of the great laws of business is that time equals money: The more time you can efficiently utilize, the less time you waste and the more money you make. Some may call this the opportunity...Read More
What will be Your Legacy?
In the last few years, Elise and I have really gotten into our own family histories. Both sides of Elise’s family came from England, one in the 1830s and one at the turn of the century. My family tree is more diverse. I am 25%...Read More
“THE TWO MOST POWERFUL WARRIORS ARE TIME AND PATIENCE”- LEO TOLSTOY
Good investing can be boring, yet effective! Specifically, investors with a long investing timeline should build a diversified, low-cost portfolio with an appropriate asset allocation and stick with it. Rebalance regularly to sell...Read More
FIREd Up about Early Retirement
There is a recent trend among Millennials and younger Gen Xers that is generating a great deal of interest. The concept is defined by the acronym FIRE – financial independence/retire early. A WSJ article from November follows...Read More
THE PIONEER OF INDEX INVESTING: JOHN BOGLE'S LEGACY
John C. Bogle was one of the most recognized and respected names in the investment community when he passed away this January. His research and intellect drove him to found one of the world’s largest investment companies,...Read More
U.S. Housing Market: Not Hot Everywhere
Zillow just reported that the U.S. Housing Market is up 49% overall since 2012. That’s roughly 6% per year in that time period-though, to be fair, 2012 was when the housing market hit bottom after the 2008-2009 financial crisis....Read More
DWM 4Q18 & YEAR-END MARKET COMMENTARY
Fantasy Football and portfolio management may be more similar than one would think. Over the past weekend, I drafted a playoff fantasy football team which I’m hoping will amass more points than the other five...Read More
Can Money Buy You Happiness?
Happy New Year!! We hope you had a fantastic holiday season. Now, it’s on to 2019 with planning and resolutions for the New Year. What are your goals? More money? More Happiness? More Joy? As you tackle these huge questions of...Read More
It’s Beginning to “Cost” a Lot Like Christmas!
It’s beginning to “cost” a lot like Christmas! It’s a fun play on the popular holiday song, "It’s beginning to look a lot like Christmas", originally written by Meredith Wilson in 1951. Though times have...Read More
Understanding Benchmarks: Why is my Portfolio Trailing the S&P 500 so far in 2018?
Many investors with well-balanced, diversified portfolios might be asking this exact question when they compare their year-to-date (“YTD”) return with that of the S&P 500. To understand the answer to this question is to...Read More
Could Tax Savings be Under Your Christmas Tree?
We hope everyone had a wonderful Thanksgiving holiday. We certainly did! The Holiday season is now upon us. We hope you take the time, before year-end, to see if the Tax Cuts and Jobs Act of 2017 (“TCJA”) has left a...Read More
THE FINANCIAL CRISIS: 10 YEARS LATER
On September 15, 2008, Lehman Brothers imploded; filing a $691 billion bankruptcy that sent stock markets into a deep dive of 40% or more. The global financial crisis ultimately would destroy trillions of dollars in wealth- $70,000...Read More
Your “Hidden Brain” Impacts Your Politics
Hopefully, all of us will vote in the midterms on 11/6 or before. Roughly half the country will vote for Republicans (conservatives) and half will vote for Democrats (liberals.). Did you know that your choices are not only impacted by...Read More
Midterm Elections and Beyond: What to Expect
November 6 is less than 3 weeks away. We hope everyone votes - as Americans, it’s our most fundamental right. We certainly are not predicting the election results. Lots of close races in IL, SC and across the nation. However,...Read More
DWM 3Q18 Market Commentary
Get yourself fit! A diversified portfolio is like a well-balanced diet. You need all major asset classes/food groups for proper nutrition. Think of the major asset classes (equities, fixed income, alts) as your protein, carbs, and...Read More
Tax Efficient Investing
Think of these opposites: Good/Bad. Rich/Poor. Gain/Loss. Joy/Sadness. Investment Returns/Income Taxes. Yes, Uncle Sam is happy to take all the joy out of your investment returns and tax them. That’s why tax efficient investing...Read More
Labor Day: A Holiday and a Time to Reflect on the American Dream
We hope everyone had a wonderful Labor Day weekend. We certainly did. Labor Day always marks the “unofficial” end of summer. Time for school and work to begin in earnest. It’s also an excellent time to remember the...Read More
Bull Market Runs Come in All Lengths
Let me help you with the details of the above chart- though it is difficult to read, it’s quite important. This graph from First Trust reflects the historical performance of the S&P 500 index from 1926 through June 2018. The...Read More
Mother Nature is in Charge!
Americans are getting a little disaster weary. From the horrific wildfires out west to torrential rains and flooding all summer in the east, it has been quite a year. And in the south and east, we all know what August...Read More
Biases: Fluid & Fuzzy vs Rational
In a perfect world, we would all make optimal decisions that would provide us with the greatest value and satisfaction. In economics, the rational choice theory states that when you are presented with options, you would choose that...Read More
Here Come the Millennials!
In only 12 years, 75% of American employees will be Millennials. By then, even the last of the Baby Boomers will be 66 and on social security (though a few of us might still be working). Generation X is a smaller cohort and some of...Read More
Don’t Waste One Drop of Summer!
Summer is here. Perhaps you’ll take a vacation. Great! But, beyond that, what’s on the rest of your summer bucket list? Don’t waste one drop of this very special season. Here are some possibilities: Relax Nap in a...Read More
How to Make an Appropriate End to "Your" Era
Barbara Bush was one of our country’s most cherished Grande Dames of politics and we were all saddened recently when she passed. With her signature white hair and pearls and her no-nonsense attitude, we were a little in awe, as...Read More
Supreme Court Overturns Ban on Sports Gambling
On Monday, the Supreme Court struck down the 1992 federal law that said states couldn’t “sponsor, advertise, promote, license or authorize” sports gambling. The ruling in Murphy vs. NCAA agreed with New Jersey that...Read More
PUT LONGEVITY INTO YOUR PLANNING
We’re living longer. Back in 1935, when Social Security was started, there were 8 million Americans 65 or older. Today, there are 50 million and by 2060 there will be 100 million 65 and older. It is projected that in 2033, the...Read More
HAPPY VALENTINE’S DAY- HERE’S SOMETHING BETTER THAN CHOCOLATES!
We love chocolate. We also love saving taxes for our clients. Hard to believe- we’re already 45 days into 2018, dealing with a very different tax structure. We’ve been working on 2018 tax planning for our clients and...Read More
The Mighty Dollar
With tax cuts and tax returns on everyone’s minds, we think it is a good time to look closely at our favorite currency! We might call it “dough”, “bread” or “cheddar”, we have...Read More
DOW 26,000-WHEN’S THE LAST TIME YOU THOUGHT ABOUT YOUR RISK?
With U.S. stocks at all-time highs, now is the perfect time to review your risk profile and then make sure the asset allocation within your investment portfolio matches it. Equity markets have been on a tear. In 2017, the average...Read More
DWM 2017 YEAR-END MARKET COMMENTARY
Ah, winter…colder temps, snow (even in the Carolinas)…it’s a good time for the annual ski trip. But if there are words for caution when skiing, it’s always: “Don’t get too far out over your...Read More
OCTOBER: HALLOWEEN AND NATIONAL CYBERSECURITY AWARENESS MONTH
What a combo! Ghosts and goblins seem pretty tame compared to the potential theft of our financial information. 146 million Americans got a big scare last month when Equifax announced that hackers had stolen their personal information...Read More
“AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE”- B. FRANKLIN
Millions of Americans are being impacted by two Category 5 disasters- Hurricane Irma and the Equifax data breach!! Certainly, we’re all watching Irma spread through FL and beyond, and our hearts and prayers are with all those in...Read More
Now's the time to plan for your 529!
Summmerrrtttime! Every day in the summer at our office here in Charleston, we are regaled with the carriage tour drivers’ versions of this famous song from Porgy & Bess. We end up having that song stuck in our head a lot of the...Read More
Ask DWM: “Please Explain how Investment Returns are Calculated”
Excellent question from a valued client and an extremely important one. You need to know how your investments are performing. Are you on track to meet your goals? Are any changes needed? To start, focus on your “total return...Read More
Let’s Make Taxes Simpler and Fairer!
Last Wednesday, President Trump’s one-page Tax Reform Proposal was released. We expect the Administration will soon discover that Tax Reform is similar to Health Care Reform. President Trump’s February 27th...Read More
Computers and Technology - A Current Potpourri
Gary Kasparov Gary Kasparov has always interested me. Born in the Soviet Union, he was a world champion chess player from 1985-2005. He has long been a vocal activist opposing Putin’s policies. Today Mr. Kasparov is the chairman...Read More
Health Savings Accounts - Understanding the Benefits
Health care is a very hot topic in 2017. The new administration made it their leading agenda item, though we have yet to see a plan agreeable to both sides of the aisle. As Republicans contemplate how to replace the Affordable Care...Read More
DWM 1Q17 Market Commentary
Did you know that after 146 years, the Ringling Bros and Barnum & Bailey Circus is shutting down? No worries. It seems our friends in Washington are taking it over as it has been a circus-like atmosphere filled with noise for the last...Read More
Safe and Sound
Security, or a lack thereof, has been a hot topic in the news lately, ranging from high-tech hacking scandals to sensitive information leaks. During a time of such concern, we can all agree that security is a top priority in our lives...Read More
The Oracle's Wager
When Warren Buffett, Chairman and CEO of Berkshire Hathaway Inc., discusses investing, most everyone in the financial industry pays attention. No one can disagree with his success or business acumen and few seem to be better at...Read More
The F-Word (Fiduciary) is Becoming The Antidote
Fiduciary: n. from the Latin fiducia, meaning “trust.” For Registered Investment Advisers, the legal obligation to always put their clients’ interest first and be proactive in disclosure of any potential conflicts of...Read More
We loved recently learning the word for retirement in Spanish …Jubilación! It has a much more festive ring to it than “retirement” or even “financial independence”, as we say in the U.S. In France...Read More
Warning: Alternative Facts May be Hazardous to your Portfolio Returns
Alternative facts may work sometimes in business and politics, but they don’t work with investments. Returns are based on reality, which can be complicated, random and uncertain. 30 years ago, in his book, "The Art of the Deal,"...Read More
Winning the Super Bowl and Achieving Long-Term Financial Success
Clemson and Alabama know it. The Super Bowl contenders-Patriots, Steelers, Falcons and Packers- know it. There are many factors and lots of hard work that contribute to success. You need consistent, effective blocking and tackling....Read More
DWM 2016 Year-End Market Commentary
Over the holidays, I heard a lot of people whine about 2016 and how they were happy that it was over. Obviously, as a Cubs fan, I am biased. 2016 delivered a gift that has been waited upon for decades! One more time, “Go Cubs Go...Read More
Happy Holidays – Lessons from Star Wars
Grandsons Matthew and Henry and I went to the see "Rogue One: A Star Wars Story" yesterday. With Carrie Fisher (Princess Leia) having passed away in the morning, it was a surreal experience. Even so, we all loved it. This is the...Read More
Father of the American Christmas Card
It's that time of year again. Time to get together with family, reconnect with old friends and drink eggnog by the fire. Spending time with those important people in your life is nice any time of the year, but it's always great around...Read More
Teach Your Children Well
As parents, we want what is best for our kids and want to prepare them to be independent and successful adults. Two of my three children are in college now and, from my experience both as a parent and working at DWM, I have learned...Read More
Don’t Forget Year-End Tax Planning
Holiday season is here. Lots to do, including year-end tax planning. Yes, you need to carve out some time to reduce your 2016 tax bill. Planning this year could be extremely important. A tax reform is likely in early 2017 that would...Read More
President for All Americans
On the morning after the election, Donald Trump pledged that he "will be President for all Americans." That was a great start. President-elect Trump has now assembled his transition team. We’re starting to see that some of the...Read More
“You’re hired!” was something The Apprentice reality show viewers heard at the end of every season as someone emerged from a group of highly different “characters” and was chosen as the winner. In a...Read More
Is Our World Really a Bad Place?
Aren’t you glad the contentious presidential debates are now over? Do you feel like the only things reported are politicians bashing each other and other terrible and depressing events? Wondering what this world is coming to?...Read More
DWM 3Q16 Market Commentary
With all the uncertainty in the news today, a human being might emotionally feel quite anxious. If you hadn’t looked at your portfolio in a while, you may assume it’s not doing so great. But your portfolio does not have...Read More
MGP4 - The Next Generation in Financial Planning
The financial industry is seeing some interesting changes spurred by the recently-enacted DOL fiduciary rule (see our recent blog at http://www.dwmgmt.com/fiduciary-standard-closing-in-on-reps-and-brokers/ ). At DWM, we welcome these...Read More
Big Macs, Gold, and Sugar
Big Macs are a real bargain in China. On average, only $2.74 versus $4.79 in America. In Switzerland, it will cost you $6.82, Norway $5.65, Euro area $4.02, Chile $3.27, Russia $1.88, and India $1.83. These values are from The...Read More
DWM End of 2014 Market Commentary
Diversification. We talk a lot about it. It’s basically our religion when applying reasoning to investing. Diversification is a technique that reduces risk by allocating investments among various financial asset classes,...Read More
The Big Mac Index- Tracking Worldwide Standards of Living
A Big Mac has 540 calories and 29 grams of fat. It also contains important economic information that The Economist and others use to compare international prices and wages. In January, a Big Mac cost $6.81 in Switzerland, $4.20 in the...Read More