January
2007
A Monthly Newsletter Source of Financial Sources
Don't miss this month's timely story ideas, direct dial phone
numbers, and E-mail addresses of these accessible experts!
401(k)
• Where to Look for Hidden Fees in 401(k) Plans.
ESTATE PLANNING & RETIREMENT
• It's Smart to Put Highly Appreciated Property in a Realty Trust.
• Use Estate Planning Discussions to Strengthen Family Ties and Impart Crucial Financial Information. Silence about your estate makes no sense.
• Personal Health Risk Analysis (PHRA).
The new tool for life and retirement planning.
• Think You're Providing Retirement Planning? Not Unless the Discussion Includes Work. Real added value is providing seminars and workshops about work after age 65 for your best clients
• Clearing Clutter, Preventing Regret as you Prepare for Retirement
INVESTMENTS
• Feared by Peers: Make 'Killer Competitors' Part of Your Portfolio Strategy.
• Bear Markets – Are They a Thing of the Past?
PERSONAL FINANCE & TAXES
• Why Young Employees Should Use Bonuses
and Pay Raises to Fund A Roth IRA.
• Tax Strategy Action Step: Ask Congress to Adjust the Alternative Minimum Tax. Tax planning can be amazingly simple and helpful.
401(k) INDUSTRY
Where to Look for Hidden Fees in 401(k) Plans.
For information on low-cost 401(k) plans with all fees fully disclosed, contact Ken Weber, principal, Weber Asset Management, Inc., Lake Success, N.Y. The firm provides customized asset management plans for individuals and for 401(k) plans. He can be reached at 800-438-3863 or at ken@weberasset.com
ESTATE PLANNING & RETIREMENT
It's Smart to Put Highly Appreciated Property in a Realty Trust.
Titling highly appreciated real estate to a realty trust is a smart and vital action if you want control in how your assets pass to the next generation. There are numerous advantages to be considered:
1. Real estate not in a trust will go through probate. If your family's estate is handled by a bank, banks’ fees start at 5% of the value of the probate real estate -- a very large and unnecessary fee. The bank's charge for probate of non-real estate assets is 2.5%. Real estate in a trust does not require probate of any kind. It immediately passes to the beneficiaries named in the trust.
2. The average delay of probate is 18 months; with a trust, there is no probate and no delay.
3. During the 18 months of probate, beneficiaries do not have control of the real estate. With a trust, beneficiaries have immediate control.
4. A trust is private. No one can go to court and read your public probate records to find out how your assets were divided and who are the new owners of your property.
5. A trust can provide protection for generations from professional liability and divorce on the part of your children or grandchildren.
Recently, after the death of her husband, Jane, 78, sole beneficiary of her husband's estate, sought advice on disposition of the couple's assets. She was worried about the impending divorce of her daughter, Vanessa, an only child. Fortunately, Jane's advisor helped her understand that if the assets she intended to direct to her daughter were not protected by a Trust and Jane died, then a full half of all the assets she intended for her daughter could be at risk in a division of marital property during a divorce. Jane proceeded to immediately establish a trust and is now assured that her wishes and those of her deceased husband to give their daughter her inheritance will be met. Inside the trust, Vanessa's inheritance is unassailable in divorce proceedings.
Pearson Financial Services, Dennis, MA, is the author of "The Two Million Dollar Gift: Dynasty Trusts. Why Leave Your Assets Any Other Way", written for his clients, his clients' families, and his own family. He offers a fully integrated wealth management process, incorporating investment, retirement, financial and estate planning specialists under one roof, serving clients as their family's office, designing and implementing strategies to protect and distribute their wealth and highly appreciated property. Seth Pearson, CFP, 800-385-7925, seth.pearson@verizon.net.
Use Estate Planning Discussions to Strengthen Family Ties and Impart Crucial Financial Information. Silence about estates makes no sense. There are a few topics that people rarely want to discuss. Politics and religion rank high on the list, but talking about money is perhaps the discussion that is most rare. To put this issue to a test go up to a few people and ask them three questions: What political party do you support? What religion do you practice? How much money do you make in a year?
These money discussions become even harder within families. A couple will spend many hours and thousands of dollars on professional fees developing and executing an estate plan and then never discuss it with their adult children, and the children never think to ask.
Often the first time the family learns of the plan is after the first spouse has died. People often defend this estate silence by claiming they don't want to make their children lazy by expecting to receive a windfall when the parents are gone or that they don't want to cause family strife if the estate plan treats the children differently.
Certainly, springing the plan on them after you are gone guarantees family strife. You only avoid dealing with it if you are dead. You don’t lessen your children’s pain. Worse, the children who feel slighted by your plan may hold you in low esteem after you are gone.
These arguments are rationalizations for avoiding a discussion that most people want to avoid. The discussion, however, can lead to a clearer understanding across many several generations of the family's relative economic well-being and how it values money. The discussion should continue over the years as circumstances change and should not be a monologue either. Ask for your beneficiaries’ reactions to your plans.
Discussing an estate plan before it is implemented can also prevent duplication of effort. If a couple with young children is scrimping to save for a home, a bigger car and college, the couple would appreciate and benefit from knowing that their parents have set aside some money for their grandchildren's education.
Rather than creating strife, discussing estate planning with children can bring a family closer together as they feel part of a bigger plan and understand their role and what the family's expectations are of them. Financial and estate planning should not be treated as a state secret, but as an opportunity to strengthen family ties and to impart crucial financial
lessons to the next generations.
Donald L. McCoy, J.D., CMFC -- Planners Financial Services, Inc., 952-835-9000. Minneapolis, Minnesota. Registered investment adviser and subsidiary company Montgomery Investment Management, specialize in the management of no-load mutual fund portfolios for individuals and retirement plans designed to protect capital by reducing risk. pfs@usinternet.com.
Personal Health Risk Analysis (PHRA)
The new tool for life and retirement planning. The greatest or second greatest expense in retirement will most likely be your healthcare. This fact is driving consumers and their financial advisors to assess the impact of health and healthcare expenses. Healthcare costs have risen two to three times faster than inflation over the last few decades. Costs of medical care are projected to increase as much as 15% annually. The average 65-year old couple living to average life expectancy will need $200,000-$300,000 to cover their healthcare costs. This is just an average and will increase if healthcare costs rise faster than projected or if individuals become ill or live beyond average life expectancy.
Smart consumers concerned about healthcare costs in retirement will benefit by participating in a Personal Health Risk Analysis (PHRA) as a critical first step for planning. A PHRA helps consumers realistically evaluate their health and plan accordingly – both for their health and financial well being. Staying healthy is the best way to save on medical costs. A thorough PHRA will offer suggestions for decreasing health risks. Such an analysis, based on a wide variety of information, can identify areas of health concern and health risk and provide suggestions for preventive actions as well as tips for maintaining and improving health.
A PHRA should explain the risks or possibilities of the consumer acquiring a disease or condition. A consumer will fill out their medical history, family history and lifestyle choices. These facts are all risk-weighted and scored in different categories to determine the likelihood of the risk factor. A good PHRA will generate a Personal Health Analysis Report showing the consumer the presence of factors that will can increase or decrease the risk of developing a disease or medical condition. Some risk factors consumers can control or change. Some they cannot. For example, lifestyle can have a great impact on your risk for developing cancer. Studies have shown that making healthy choices can potentially prevent over 50% of new cancer cases in the country.
The best PHRA programs are the culmination of a team effort by leading physicians from multiple specialties and subspecialties working with experienced actuaries to develop proprietary health and life-style algorithms. Together, the experts evaluate a consumer’s health and lifestyle, create assumptions for their future health and healthcare needs, and determine personal life expectancies. The team considers national health standards, healthcare costs, traditional actuarial data, medical coverage, access to medical technologies and progress in certain areas of medical research.
Ron Mastrogiovanni is the president of WorldCare North America, a provider of medical advisory services including Web-delivered health assessmen programs that offer personalized health risk tools and analyses. The company also offers independent medical consultation services through some of the nation's leading research institutions, including Brigham and Women’s Hospital, Dana-Farber Cancer Care, Duke University Health System, Massachusetts General Hospital, and UCLA School of Medicine. WCNA's platform of services is provided to consumers through financial institutions, affinity programs and employers. To reach Ron Mastrogiovanni, call Joanna Flynn, WorldCare North America – 617-250-5167.
Think You're Providing Retirement Planning? Not Unless the Discussion Includes Work: Real added value is providing seminars and workshops about work after age 65 for your best clients. Until recently, most financial advisors and financial consultants believed they were offering retirement planning when in fact they have only been providing financial advice. True retirement planning includes serious talk about work, as well as discussions about dreams and aspirations for the later years in life.
For three quarters of retirees, one real issue is the need and desire to keep working in some flexible capacity in the third stage of life. Most financial advisors have no programs or outside consultants in place to assist them in counseling their clients about working and living differently. But that is changing.
As added value for their best clients, financial counselors are providing services at different levels. Some are offering luncheon seminars, or a series of short-term evening seminars and inviting experts in the field who can present programs about choices the about-to-retire or early retirees have before them. Others are developing lists of professional counselors, life coaches and career coaches for carefully chosen referrals to work with their clients as they plan the next stage in their life.
Work has a direct influence on an advisor's client's finances and budget. Can the client negotiate a phased retirement and stay in the same job, letting go of responsibility a little at a time? Or after a client has fully retired and begun receiving pension benefits, do the company's pension rules prohibit the client from working again for the same company. Advisors are finding that they must delve into the internecine world of pension regulations in order to best advise their clients.
Certainly not all clients will want or need to work, but for those who do, there are seven kinds of work to be discussed. These include paid and unpaid work:
* Continuing to work for the current employer, but carve out a more flexible schedule
* Moving on and working for a new employer
* Starting or buying a business
* Starting an independent, sole proprietor consulting or free lance practice
* Finding a non-profit position in the community for pay or not
* Taking a larger role in care giving in the family, either for grandchildren, spouses, partners or elders
* Committing to continuing education around a new career or passion.
Advisors must become conversant with all types of work for older workers in order to bring the dreams and desires of their clients into line with what their retirement funding will allow. It's about retirement funding, certainly, but it is also about creating a full life from age 65 to age 85 and beyond. Be prepared. Work is going to play a part in most lives -- even after a first retirement.
Anne Hartman is Managing Partner of Working Differently, a firm consulting with individuals and organizations to redefine retirement. Her book "Working Differently: A step-by-step guide to finding work that works" will be published in the fall of 2006. She can be reached at anne@workingdifferently.com, or 508-349-7921
Clearing Clutter, Preventing Regret as You Prepare for Retirement
Many people have too much stuff because they haven’t taken the time to make necessary adjustments to the reality of their present life, and stuff has piled up. Moves, deaths, marriages, children, career changes, new interests and retirement all require adjustment. Part of that adjustment is clearing out the old stuff to make room for our present life. Clearing our clutter is a way to adjust to the demands and desires of our present life. It’s a practice, not a one-shot-deal.
One reason people do not let go is because they are afraid of regretting their decision. In order to prevent regret when clearing your clutter, ask yourself four questions:
1.Do you love it now?
2.Do you use it now?
3.Does it fit into the integrity of your current home?
4.Does it fit into the integrity of your current lifestyle?
Answering “no” to any or all of these questions turns stuff into clutter. There are a finite number of years in our lives, square footage in our homes, and activities to which we can dedicate our lives. Americans don’t like limits; they would rather hold on or add on in order to make room for all our stuff. We can’t have it all. Instead we need to be selective of what fits into – and gives value to – our present life. Clearing clutter brings a whole new meaning to “survival of the fittest.”
If you are downsizing to prepare for retirement, for example, you have the perfect opportunity to stop being a non-paid storage bin for your adult children. Ask them what they want, love or would use now, and give the rest away. Objects of sentimental or monetary value can be divided while you are alive, prior to your move at retirement time. Let your children participate in the decision-making. If an object is unwanted, it has no value. Styles and interests change, and a complete stranger may appreciate an object more than your own children. If it is in good shape or can reasonably be repaired, give it away before you throw it away - before your move.
If you are moving in the spring, start clearing your clutter over the winter months when most of us are already more housebound. Your move will be a lot less stressful and you’ll save money because you will not paying for all that clutter to go with you to your next move.
Laura Moore, ClutterClarity, Cambridge, Mass., provides on-site clutter clearing and educational workshops to help people clear their homes of clutter for greater comfort and control. Her workshops “It’s your mess but not all your fault” are currently being presented in the Boston area. laura@clutterclarity.com 508-349-1661.
INVESTMENTS
Feared by Peers: Make 'Killer Competitors' Part of Your Portfolio Strategy
Investors are often correctly urged to look to 'best of breed' stocks -- companies that possess size, management skill, financial health and product or service offerings that make them solid long term growth plays. But among these best of breed companies, there's a special type of creature that cuts a swath through the Wall Street jungle: a business carnivore who makes executives at even best of breed companies break into cold sweats. They are the 'Killer Competitors.”
What makes a simply great company a Killer Competitor? It's the corporate ability to see around corners, not just think outside the box. It's the skill to seemingly bend time itself -- to act at a speed that seems barely mortal. It's the management courage to take --and make work -- an imaginative leap that others would fear to be a career killer. It's the possession of 32 color Crayola box, when your competitors are stuck with eight colors.
Two well known companies fit this description, and should be a part of every growth investor's portfolio: Toyota and Apple.
Toyota continues its inexorable march toward global domination in the auto industry. With a line-up of vehicles that year-after-year rank high in design, quality and technical innovation, they seem to effortlessly execute what Detroit finds difficult, if not impossible to do. There's so much to like about this stock. Financially, Toyota is in great shape, sporting an A+ credit rating. Interest expense is only about 1% of operating income, and they are free of the enormous legacy costs that hobble GM and Ford. This efficiency helped lead to an astonishing statistic: for the first nine months of 2006, Toyota's net earnings were double those of the Big Three auto makers combined.
Amazingly, few Wall Street giants own this stock. Toyota is not part of the S&P 500, and its American Depository Receipts (ADRs) trade at a fraction of the daily volume of GM and Ford. Thus, large index-oriented fund complexes give it a pass. This creates the almost comical scenario of managers like Vanguard, Fidelity, and State Street Research owning huge billion dollar chunks of pathetic Ford and GM stock and hardly any Toyota. No surprise that the largest institutional holder of the stock is a savvy and creative growth manager like Marsico Capital.
Toyota's skill have rewarded investors: its stock price has doubled 100% in the past three years, far outstripping the S&P's 27% gain, not to mention the large double digit losses of Ford and GM! Even so, Toyota trades at a below market multiple, and is still inexpensive relative to its historic valuations.
Has any company in history so rapidly transformed itself -- and its competitive space --as Apple? Left for dead-or worse, irrelevant-just three years ago, Apple now finds itself at the center of revolutionary developments in three industries -- computers, music, and video. And as we'll likely see in 2007, Apple will once again redefine the playing field-this time in the even larger global cell phone market.
Apple seems to operate in a different world, a different dimension than its competition. Here we are, three years after the introduction of the first iPod, and Apple's competition-large, smart companies like SanDisk, Sony, and Microsoft--have still yet to figure out how to compete with Apple's vision. But for all the words and talk about the iPod line, the big story for Apple has been the so-called 'halo effect.' There is now solid evidence that a new generation of customers, introduced to Apple first by the iPod, are now migrating their computer preferences to the Mac product line. Given the larger profits inherent in computers than music players, this bodes very well for Apple's future bottom line.
But, as Sinatra sang, 'the best is yet to come.' Apple will eventually be a major force in cell phones. Here, the numbers could get truly scary; for all the talk about the millions of iPods sold, Apple could well sell ten times as many 'iPhones,' creating an earnings gusher where one never even existed a year before.
Rarely has so well run and innovative a company met with so much skepticism on Wall Street. But of course, most fund managers and strategists are over 45 and grew up and work in a PC world. The Apple transformation has been so sudden, so recent, that some of the best on Wall Street are still struggling to get their brains around the story.
Robert Markman, Portfolio Manager, the Five Star Markman Core Growth Fund (MTRPX) -- a dynamic and responsive large cap growth, no-load mutual fund with a portfolio strategy developed to adapt to the changing investment environments. www.markman.com 952-920-4848.
Bear Markets – Are They a Thing of the Past? Are bear markets a thing of the past or is your measuring stick just too short? If you are starting to feel that the market really only goes up and that the risk of being invested for the long term is small, you probably need a short refresher course on the equity markets. Don’t feel bad, failing to recognize or even remember long term trends and cycles in the market is a common error, especially as the bull move in equities seems to go on and on. Of course the distracting babble in the financial media certainly doesn’t help things.
The current bull move began in late 2002 or early 2003, depending upon which market index you are using. In either case we are in the vicinity of the four-year point in this up move. How much longer can this trend continue? During the 1990s, we had an uptrend that lasted almost 10 years; of course, its conclusion was somewhat dramatic. Even that most recent dramatic bear market has slipped off most investors’ financial radar – a distant memory. The median for the last 10 bull markets is 50 months, which is about where we are now.
Median is a statistical term – it is just a number dividing the upper and lower half of a data sample.
Since the great crash of 1929, there have been 13 bear markets, excluding the big one that started in 1929, as defined by a 20% decline on the S&P 500 Index. The average duration of these was about 17 months. The severity of the declines varied from 20% to 54%, with the last one (2000 – 2002) declining 45%. The median for these declines would be at 34%. Here is something that is important, outside of just scaring you with these statistics, the average time it took for the S&P 500 Index to recover from these bear markets was just over 3.5 years, again, not including the huge 1929 bear. That’s right, an average of three and one-half years to get back up to where the bear market began. So if the average bear market lasts about 17 months and it takes an average of 42 months (3.5 years) to get back to where it started, that translates into almost 5 years of going no where. Don’t even think about including the declining purchasing effects caused by inflation into the equation, it would only worsen the situation.
As always, caution on using averages is warranted. Using averages like this is only good to keep you in touch with history – they do not predict anything. However, they should make you stop and think. Long-term memory is a terrible thing to lose; and this time just might be longer than average. Some market indices are making new all time highs, while others are not. In particular the S&P 500 and NASDQ Composite are still well below their 2000 highs, and these are major market players.
Here is some arithmetic that Wall Street doesn’t like to show you. If you hold onto a stock and it drops 33%, it takes a future return of 50% to get back to even. Another example is, if your holding drops 50%, you have to get a 100% return to break even. 100% return? Are you kidding? Think about it – when was the last time you doubled your money? And breaking even should never be your goal; instead it is just a massaging of one’s ego and never a valid investment strategy. If you catch yourself thinking like that, don’t feel bad, unfortunately many investors think that way..
Price Earnings ratios (PE) have actually declined during the last couple years of this bull market. This is because earnings have risen at a much greater clip than prices. Normally, during cyclical bull markets the opposite occurs. This has many on Wall Street confused – they don’t fully realize the benefits that large tax cuts had on earnings. The evidence behind secular markets, and in this current case, secular bear markets, is that these valuations eventually correct to their long term mean, and then some. A decline in prices is one way for this to happen.
So why all this caution about bear markets? There is continuous risk in the market. Active managers, following a technical model, strive to lessen this risk by putting assets into defensive positions when the markets correct. Remember, all bear markets begin with what appears to just be a correction, which first appears to just be a down move that was originally only a few down days. This up trend will end at some point, and active models will signal accordingly. Turn your assets over to an active manager and sleep well.
Gregory L. Morris is the senior portfolio manager for PMFM, Inc. Prior to this role, Greg served as a Trustee and Advisor to the MurphyMorris ETF Fund and as Treasurer and Chief Executive Officer of MurphyMorris Money Management Co. Greg has been a technical market analyst for almost 30 years. He was a Navy fighter pilot, is a graduate of the Navy Fighter Weapons "Top Gun" School, and holds a degree in Aerospace Engineering from the University of Texas.
PERSONAL FINANCE & TAXES
Why Young Employees Should Use Bonuses and Pay Raises to Fund A Roth IRA
The Roth IRA is really an excellent opportunity for young people, paying lower tax rates, who are just starting their careers and have income under $100,000 a year. Putting aside this money now allows it have a long period of tax-free growth and tax free withdrawals when they near retirement.
There are a number of ways a young employee can find the dollars to fund a Roth IRA, including bonuses and pay raises, and there are a number of excellent reasons to consider this allocation of assets, even when you are still struggling to make ends meet.
Earnings in your Roth IRA account grow tax-free and when you are 59 1/2, withdrawals are also tax free. However, you can contribute up to $4000 each year, but it is not a deduction on your taxes. Rather, it is taxable the year you make the contribution because it is treated as gross income. The tax-free growth and tax-free withdrawals make this entirely worthwhile. The tax treatment of the Roth IRA is different than regular IRAs where the amount you contribute offers you a deduction each year on your taxes.
The benefits of tax-free growth are clear. If you are still on the fence about opening or contributing to your Roth IRA, consider this hypothetical. Imagine a couple, both 30-years-old, who have combined IRA accounts of $40,000 invested in stocks with an average annual total return expectation of 8%. They expect to withdraw their IRA money at age 60 and expect their federal income tax rate to be 28% at withdrawal. If they have a traditional IRA, they can expect a total after-tax value upon withdrawal of $370,071. On the other hand if they had a Roth IRA, they can expect a total after-tax value upon withdrawal of $402,506, or $32,435 (+8.76%) more than the traditional IRA. The tax-free growth and withdrawal provisions of Roth IRA's are powerful wealth generators.
It is clear that U.S. tax rates are at their lowest level in many years. The 15% capital gains tax rate is unsustainable in the future due to the deficit spending we are currently engaged in to support the military.
Ways to fund your Roth IRA
• Allocate your Christmas bonus or pay raise
• Take your tax refunds and deposit them in your Roth IRAs.
• Set up automatic deposits directly from your salary. Divide the maximum of $4000 by 12 and it is about $330 a month to make a painless contribution that will really add up each month and over the years.
• Take “old” money being saved for a different purpose, such as money for the down payment on a house. If a Roth IRA has been opened for five years, you can withdraw up to $10,000 from this account for purposes of buying a first home and your saving for that down payment can accrue tax-free. Of course, you are withdrawing assets before age 59 ½, so you will have to pay taxes when you withdraw dollars for that down payment.
• The Roth allows the same withdrawal policy if savings are to be used for college expenses for kids, and again, the assets have accrued tax free but will be taxed when withdrawn.
King Lip, CFA, a Portfolio Manager with Bingham, Osborn & Scarborough LLC (BOS), a San Francisco and Menlo Park, California-based registered investment advisor with approximately $1.5 billion in assets under management. BOS has provided investment management and comprehensive financial planning for individuals and endowments since 1985. All revenues are fee only. BOS has eight principals plus eighteen team members working on behalf of their clients, including seven credentialed portfolio managers with direct client contact and eleven operations, administration, finance, compliance, and systems staff with responsibilities related to client accounts. King.Lip@bosinvest.com. 415-781-8535.
Tax Strategy Action Step: Ask Congress to Adjust the Alternative Minimum Tax. Tax planning can be amazingly simple and helpful. The most important tax planning strategy many Americans need to take this year is to write to your Congressional representatives about adjusting the alternative minimum tax (AMT). Ask your friends to write as well. Every year for the last several years Congress has been making some end-of-year or early-in-the-new-year changes to the tax code. For a few years, those changes have included mitigating the income levels affected by the AMT. The changes that were made in December 2006, left mitigation unaddressed and many AMT taxes still in place for many Americans.
If the issue of who will pay AMT continues to be unaddressed, some individual returns with adjusted gross income as low as $100,000 will pay at AMT levels and AMT may actually produce more revenue for the US Treasury in coming years than regular income tax. While we're all ready to see the deficit addressed, none of us want to see it happen on the back of the middle-income working individuals.
During tax season every year, many people are frantically trying to find ways to adjust their taxes for the prior year. Often a wiser course is to make sure that any problems in the prior year don't hit again in the current year. And some of the solutions are embarrassingly simple. Start by paying attention to your big refund or the huge, unexpected amount of taxes you owe this year. Both scenarios are indicators that you're not paying taxes properly. If you're a working person with a job where you get a W-2 every year, adjust what's being withheld from you paycheck now.
Check again in September or October to do some tax planning and see if you're on track. If you don't have big changes during the year, the adjustments have a good chance of working. Many people feel that getting a big refund is a good thing. In fact, it's poor planning and costs money. The IRS doesn't pay interest on overpaid taxes when it returns the money, so pay what you owe and put the rest in an interest bearing account during the year. Don't wait to get it back.
The other paycheck tax and financial planning tool is maximizing employer provided retirement plan. People sometimes have the unwise view that putting money from wages into these plans is a rip off that only benefits the employer. Not true! If the employer has any type of matching system, you automatically lose money if you don't participate up to the amount they'll match. Also, putting money into the plan accomplishes a basic financial goal for most working folks, which is saving for retirement. And putting this money away into traditional plans lowers current year taxes.
Linda Leitz, CFP, Pinnacle Financial Concepts, Inc., Colorado Springs, Colorado, is author of The Ultimate Parenting Map to Money Smart Kids,” as a book or as a CD. She specializes in helping families and individuals meet their long- term financial goals. She also helps those in the midst of divorce resolve financial issues through her company Divorce Solutions, Inc. She can be reached at 719-260-9800 or Linda@brightleitz.com.
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