rapidfire
Just One Trick Retirement Living
O
ne big financial mistake many people make is working with a one-trick pony. Some fi-
nancial firms have a limited product line, and their advisors’ knowledge is limited to that minimal product line. You have complex financial needs for your money that include safety, protection, stability, consistent returns, and growth. Don’t forget tax and estate issues. You need someone with vision, insight, experience, and knowledge of the numerous available savings and investment vehicles and how to use them.
Companies and advisors with few op- tions and no knowledge beyond their lim- ited choices abound when you shop for help. Financial operations that specialize
in a few products will try to make one of their products work for every customer who walks in the door. If every situation you propose is answered with one or two products, you might be in the wrong place. This one-trick pony probably will steer you toward limited fee-loaded ve- hicles that might not be appropriate for your goals. Your options include selecting mul-
tiple one-trick ponies, each with its own bag of tricks (in which case, you will need to act as ringmaster over all their activities). Or you can find a knowledge- able, experienced, comprehensive advi- sor who is able to handle most chores. Choose wisely. — Lt. Col. Shane Ostrom, USAF-Ret., CFP®
Family Matters
Discover helpful re- sources for military spouses and children.
New resources from the American Associa- tion of School Admin- istrators make it easier than ever for educators to address the special needs of military stu- dents and families. Various guides, videos, tips, and fact sheets are available at
www.aasa.org. Click
on Resources, then on Toolkits and Other Toolkits to find the Supporting the Mili- tary Child toolkit. Among the offer-
ings are tip sheets and a video showing how one school in Virginia improved its outreach.
*online: Read more personal-finance articles from MOAA at
www.moaa.org/financial. AUGUST 2012 MILITARY OFFICER 29
IMAGES: ABOVE, MICHAEL WITTE; RIGHT, SHUTTERSTOCK
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96