Two veteran advanced financial planning and wealth management firms join, establishing one of the most experienced financial advisor teams in Northern California September 27, 2011 - Monterey, CA – Principals Gary Alt and Steve Merrell along with Ken Petersen and Cris Cabanillas announce today that they are merging their respective firms, Willow Ridge Capital Advisors and Petersen & Ramistella, Inc., to form Monterey Private Wealth, Inc. (MPW), an advanced financial planning and wealth management firm...
Many people today are feeling the pain of debt and are desperate to find ways to reduce their debt load. The pain will likely get worse in the near future – as the economy recovers we can expect the Fed to raise interest rates sharply in light of expected inflation due to our massive government debt.This will raise the minimum payments on home equity lines of credit (HELOC’s) which are typically tied to the prime...
Here's a retirement reality check. The median family income in California is $63,145. To have that income in retirement means the balance in your retirement plan has to be roughly $1.57 million today. Not when you retire - today. While we all thought Social Security would provide a portion of that amount, there are three reasons you can't rely on Social Security: 1. There's no real money in the Social Security trust fund, just IOU's...
Gary Alt |
Many people operate under the false premise that money equals wealth. This is understandable since, in many respects, our society has become fixated on money and the things money can buy. However, I have come to understand that true wealth involves much more than money. True wealth, the ability to live a rich and satisfying life, is composed of three distinct types of capital: financial capital, human capital and social capital. Money, money, money... It...
If a picture is worth a thousand words then this one sent to me from a friend says everything about the national debt we're passing along to our children. When we pass along this much debt to our children, how can we expect them to earn a quality education and to prosper? The best things we can do to leave a prosperous future for the next generation is to 1) manage our personal budget and...
In an old Bugs Bunny cartoon, Daffy Duck plays "The Happy Miser"- although he's perpetually unhappy. It's amazing to me that an old cartoon can teach us so many things about human nature and our attitudes about money - all in about 85 seconds. Look at the following examples of money behavior in this cartoon clip. Missing opportunities As Daffy was scurrying to stockpile his riches, he stumbles upon a lamp with a genie in...
Several years ago I was asked to look after the needs of Millie, an elderly widow. Millie was quite a character. She lived in a tumble down old house that was filled floor to ceiling with teetering stacks of old newspapers, magazines and boxes of stuff. When I asked her why she kept it all, she said, "You never know when they might come in handy. Besides, it seems like such a waste to just...
Lifting your business from surviving mode to achieving mode. I had breakfast this morning with King Husein. Okay...it wasn't with that King Hussein--not the one from Jordan. My King Husein (note the difference in spelling) is the President and CEO of Span Construction & Engineering, the nation's leading pre-engineered steel builder for the past 17 years. He spoke at the monthly meeting of the Monterey Management Society, a group I helped organize. The Monterey Management...
Gary Alt |
Do you suffer from it? Most people do, but they don't even know it. Get-even-itis is one of the most common maladies to plague investors and is a leading cause of terminally bad portfoflio performance. Get-even-itis is the determination to hold onto a bad investment until you get even. Though it normally lays dormant, it becomes active when we become aware that something is terribly wrong in our portfolio. If you haven't experienced it already...