Blog

Welcome to our Blog! At Baron Silver Stevens, we feel it is important to empower our clients with information that can positively affect their lives.

Throughout our Blog, you will find interesting articles, updates on our firm, and practical financial planning tips.

Why Now is the Best Time To Be Alive

Why Now is the Best Time To Be Alive
Would you choose to live right now? Objectively, things aren’t easy for most of us right now. We’re facing social, economic, health, and environmental crises. With all the chaos of today, it can be tempting to lean on nostalgia and believe previous generations had it better or easier. And it can make us long for what seem like simpler times. In our newsletter this week, we go over the "7 Reasons Life Is Actually the Best It's Ever Been". Take a look at a few below: 1. LIFE EXPECTANCY We're living longer than people have ever lived before. Worldwide, more than 3 in every 4 people live to be at least 65 years old. In the U.S., life expectancies for men and women have increased by more than 10 years since 1950. That's 10 more years the generations before us didn't have to enjoy retirement, spend time with family, and
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What You Need To Know About The Stock Market During A Presidential Election Year

What You Need To Know About The Stock Market During A Presidential Election Year
Do you know what one of the number one causes of market losses during an election year is? Fear. In fact, the uncertainty of the elections can stoke your fears. It may even encourage you to make rash, emotional decisions. That can lead to losses, but it doesn’t have to. If you know the facts about the market during presidential election years, you can potentially avoid investing mistakes that so many others make. “Investing should be like watching paint dry or grass grow. If you want excitement… go to Las Vegas.” That’s what Paul Samuelson, a noted economist and Nobel Prize winner, says—and that’s not always easy to remember during presidential election years. Why? The frenzy of an election brings endless news cycles, high emotions, and stress. And if you feel that stress, you’re not alone. At least half of all Americans get stressed out by elections. You know the
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How To Be A Smarter Investor In Uncertain Times

How To Be A Smarter Investor In Uncertain Times
In a perfect world, logic would always guide our financial decisions. Emotions wouldn’t come into play. But we don’t live in a perfect world. Far from it. That means our emotions impact our financial choices more than we realize. Shockingly as much as 95% of our purchase choices are made subconsciously, driven by our emotions—as little as 5% are based in logic (and that’s when we’re in a good headspace and feeling comfortable and secure). When we’re faced with uncertainty, fear and instinct can take over and push logic right out of the window. Your brain will make you want to react quickly to protect yourself and avoid the pain you anticipate from potential losses. Ironically, these instincts often make things worse. Emotional reactions can lead to poor choices and the losses you were trying to avoid in the first place. The best way to avoid letting your hardwired biases take
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Unlock the Hidden Power of Your Goals by Asking 3 Daring "Whys"

Unlock the Hidden Power of Your Goals by Asking 3 Daring "Whys"
“If you aim at nothing, you will hit it every time.” – Zig Ziglar That’s true for most aspects of life, including our finances. Most of us realize that. It’s why we set New Year’s resolutions—and why more than half of all Americans set some type of financial goal as a resolution each year. As great as setting goals is, it won’t accomplish much for you if you can’t achieve them. And, maybe not so surprisingly, the vast majority of people (92% according to the research) don’t achieve their goals. Why? Why do we struggle so much to meet the goals we set for ourselves? Is it because we don’t want to? Because we lack commitment? Not so much. One big reason behind our failures is that most of us lack a clear connection between our present reality and the future we’d like to achieve. That vagueness can cut the
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Paradigm shifts (and how to keep up)

Paradigm shifts (and how to keep up)
Life has changed; how do we adapt without losing sight of what we want to achieve? As you’ve heard us say before, no one knows how the future will play out, but we should still look ahead and think through the consequences of what’s happening. (More about this kind of second-order thinking ahead.) We believe that our society and our economy are experiencing a massive paradigm shift. We will never go back to the world we had before COVID-19, and the lens that we used to evaluate ideas, markets, economies, and personal choices over the last decade may not be sufficient for the next decade. Here are just a few things that we see changing as a result of what’s going on now: Social Support: 36.5 million Americans have become unemployed in two months, and the effects are rippling through families, communities, and the economy.1 The government has responded with trillions of
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Staying Grounded During COVID-19 Market Fluctuations

Staying Grounded During COVID-19 Market Fluctuations
We are living in a strange time. No matter how you slice it, dealing with a pandemic is difficult. People are working remotely, staying home, and trying to navigate this new normal. There have been quite a few pandemics in our history. From smallpox to measles to cholera and so many others, market fluctuations are inevitable when it comes to the fallout of a pandemic. Falling into the trap of hysteria is easy to do while watching the news and reading friends’ opinions on social media. However, history has taught us that for every seemingly long economic recession has come an even longer economic expansion. In fact, while the average length of an economic recession is 15 months, the average length of an economic expansion is 48 months. So, what can we take away from this information? How should we ease our fears and concerns during this time of uncertainty?
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Pandemics and stock markets (lessons from the 1918 Spanish Flu)

Pandemics and stock markets (lessons from the 1918 Spanish Flu)
The pandemic is here and we’ve found ourselves in bear country without enough toilet paper. When markets fall as rapidly as they have over the last few weeks and the country is going into lockdown, it’s reasonable to be worried about a situation that seems unprecedented. But let’s not panic. Because we’ve been here before. The last outbreak to achieve pandemic status was the H1N1 Swine flu, which hit U.S. soil in April 2009.1 You might hardly remember it because markets were on a tear after bottoming out in March 2009 and the outbreak barely registered on investors. But, some say that COVID-19 is nothing like recent epidemics.  So let’s take a look at one of history’s worst pandemics: The 1918 Spanish Flu. Nearly one-third of the world’s population contracted the disease and more than 50 million died in just 15 months.2 Despite the human toll, the Dow actually rose during the 1918 Spanish Flu pandemic. Chart source:
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Are new retirement advice rules good or bad for investors?

Are new retirement advice rules good or bad for investors?
In recent years you may have seen headlines about new retirement advice rules for the financial services industry. Like many of us, you might have questions: What's a fiduciary? What do the new rules say? What does it all mean for investors? We break it all down for you in this infographic. Financial Lesson: Rules May Change. Our Commitment to You Does Not. We believe every American has the right to honest financial advice that puts them first. As professionals, we’re dedicated to helping our clients navigate their financial lives with objectivity, compassion, and the highest standard of ethics. We're happy to see more investors benefit from the client-centric rules we have embraced since we opened for business. Right now, we're working to incorporate the new regulations into our practice and you may see some changes as we adapt. If we need to make changes to your portfolios to comply
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How Long Will $1 Million Last in Retirement?

How Long Will $1 Million Last in Retirement?
$1 Million used to be the ultimate retirement portfolio benchmark for successful Americans. Being a millionaire brought status as well as the peace of mind of knowing that you could look forward to a comfortable retirement lifestyle with all the trimmings. Is that still true? We ran a series of hypothetical calculations to illustrate how long an average American retiree could expect their million-dollar portfolio to last in each state. Click here to take a look... However, these hypothetical examples leave out a lot of critical details that will impact your own retirement timeline. Here are a few: The expenditures used in the calculation are just averages. Depending on where you live and the lifestyle you lead, you could spend more or less than your state's average. That's why getting a personal retirement income analysis is so important. The expenses used by the Bureau of Labor Statistics to construct an
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Passing Along Your Hard-Earned Money Wisdom

Passing Along Your Hard-Earned Money Wisdom
Jump-Start the Money Talk with these Engaging Conversation Starters: Click here to read our newsletter with four thought-provoking conversation starters you can use to jump start the money talk with young people of almost any age. These can open up an ongoing dialogue about some of the most important financial lessons to share with your children and grandchildren. Kids learn their money values from you. Have the hard conversations with them. Money conversations can be hard. Have them anyway. If you really want your children to have good financial habits in the future, you can't afford to not talk to them about money now. While it's best to start when children are young, remember, it's never too late to get the conversation started. Even if your children are going off to college or having children of their own, there are still important money lessons to share, from shopping for loans
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