This week’s round up includes evolving model for advisor directed portfolio, financial considerations for collectors of art, antiques, advice on how to become a millionaire, money habits of millionaires, how women can get ahead of the retirement savings gap, and three steps to get going on harvesting tax losses.
An Evolving Model for Advisor Directed Portfolio
Growth of conventional “advisor-managed” portfolios has begun to slow as a new generation of advisors is changing the traditional model. Some advisors see the signs of industry disruption on the horizon, and want to ensure their stake in the future, questioning whether the best practices that worked in the past can support an aggressive growth posture going forward
Via The Trust Advisor
Financial Considerations for Collectors of Art, Antiques and the Esoteric
Putting a collection in a museum, and reaping the prestige and tax benefit from doing so, is what many collectors dream of. However, it is challenging, expensive and often difficult to accomplish.
Via New York Times
I’m a Self-made Millionaire, and Here’s the Single Best Piece of Advice I Can Give You about Money
Self-made millionaire Steve Siebold says the best piece advice he can give about money is that you have to stop telling yourself that getting rich is outside of your control. Making money is an inside job.
Via Business Insider
Money Habits of Millionaires
Financial expert David Ramsey Shares insight on how self-made millionaires came to be: Wealth was built through a slow and steady investing strategy and a large majority of millionaires developed their wealth by consistently investing a part of their income every month.
How Women Can Get Ahead of the Retirement Savings Gap
Women are more likely to participate in workplace savings plans and tend to save more than men. That’s a good thing, because on average, they need more in retirement than men do. Study finds that men who participated in workplace savings plans had account balances that were 50% larger on average than women participants’ balances.
Via The Fool
3 Steps to Get Going on Harvesting those Tax Losses
Given the volatility in various financial markets, 2015 is shaping up as a year that will offer many investors ample opportunities for tax-loss harvesting. Tax-loss harvesting, a strategy in which an investor sells one or more depreciated assets to offset the gains created by the sale of one or more appreciated assets, is a way to create tax efficiency and help achieve long-term goals.
Via Investment News