All Posts By

Paul Reback

How to teach your kids about money

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At times I get asked, “Paul, what gift would you recommend I get my daughter or son?”As a parent and financial advisor, I can’t help but relate that question to my life. Aside from love, what’s the most meaningful gift I can give my daughter? Well, knowing what I know about money and finances, and that the reality that financial problems and stress plague 7 in 10 individuals, my gift suggestion is to teach your kids and grandkids about money. Studies have shown that parents have the greatest influence on their children’s financial habits, and now, more than ever, mothers and fathers are taking the primary role in educating kids about healthy money management.

“Most financial experts agree there is a need for financial discussions among families to avoid or soften potential future economic upheavals,” says Suzanne Poole, Executive Vice President, Retail Sales Strategy, TD Bank. “According to a recent financial literacy poll by TD Bank, only 50% of families report having weekly conversations with their children about finances, even though there are easy ways to incorporate tips about money in everyday conversation. Read More

Markets have a way of confounding your expectations…focus on what you can control

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Markets have a way of confounding your expectations. I have found that a better option is to stay broadly diversified and with some help, set an asset allocation that matches your own risk appetite, goals, and circumstances.  This has worked for me and our clients for many years.

Of course, this approach doesn’t stop you or anyone else from having or expressing an opinion about the future. We are all free to speculate about what might happen in the economy and markets. The danger comes when you base your investment strategy on such opinions. In the meantime, if you insist on following forecasts, here is a list of ten predictions you can count on coming true in 2017: Read More

Cyber Security: How to protect yourself

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Most of us have at one point, or maybe regularly, connected to public wireless networks at Wi-Fi hotspots such as airports, coffee shops, hotels, and other public places. Although convenient, many people may not be aware that they are often not secure. You are sharing the network with strangers, which could put you at risk of having your personal information stolen if you do not take certain precautions.

I came across a helpful some helpful information on this topic by the Federal Trade Commission, the nation’s consumer protection agency, which I thought I would pass on to you. The article, which I have included below, explains how to identify an encrypted website, public wireless networks, and tips to protect your information.

In general, should you receive emails that appear in any way unusual, include requests for personal data, seek financial payments, etc., STOP and BE AWARE that fraud may be underfoot.


Retirement is about having the opportunity to focus on LIVING!

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Both my friends and my clients (sometimes they are the same person) often ask me: “What’s the most important thing I need to do to prepare for retirement?”

I usually tell them that there’s no one thing that’s most important, but rather a lot of things. For example: securing retirement income, managing your tax situation, or ensuring your investment portfolio keeps ahead of inflation. These are just a few examples. But when it comes to your retirement, here’s a piece of advice that all too often goes unheeded:

“If you can dream it, you can do it.” Read More

The Importance of Building an Emergency Fund

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Ben Franklin once declared, “A penny saved is a penny earned.” Equally enlightening are his thoughts on expenses: “Beware of little expenses. A small leak will sink a great ship.”

And there are plenty of “leaks” that can scuttle an already-tight budget. For instance, a spouse idled by the sour economy, a fender-bender with the family car, or an unexpected hospitalization. That’s why financial advisors recommend that you have a rainy-day fund – enough liquid assets to cover three to six months’ worth of emergency living expenses. In case of financial emergency, access to additional money will save you from relying on credit cards or loans that simply compound the problem. Read More

Just One Mistake on Your Tax Return Can Cost You Big Time! If There’s More Than One, OUCH!

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Just one of the mistakes that we are sharing with you below can cost you hundreds or thousands of dollars. Look them over, and if there is even a little question fluttering in the back of your mind that you might have missed these last year, call me. We’ll set up a time to do a quick review of your tax return. If there are no mistakes, I’ll give you a pat on the back and send you on your way. If we do find a mistake, I would love to help you. Read More

Milestones tell you where you are but they can’t tell you where you’re going

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Imagine you are driving a car down a lonely highway at night. You have no idea where you’re going or why you started driving in the first place. Because the sun isn’t out, and because you don’t have a compass, you have no idea which direction you’re going. It’s disorienting, but you have no choice but to keep driving- because at least if you keep driving, you know you’ll end up somewhere.

Then, all of a sudden, you see it: a green sign on the side of the road that reads MILE 32.

That seems encouraging, but a few minutes later, you see another sign that says MILE 33.

Then miles 34, 35, and so on. The brief spark of excitement you felt is gone, because it doesn’t take long for you to realize the truth:

Milestones tell you where you are. But they can’t tell you where you’re going. Read More