Understanding how financial planners are compensated and why it matters. By Jay Fedak, CFP®Fedak Financial Planning So, you’ve finally decided it may be time to seek out some financial advice, huh? Well, it’s about time. But now the real question begins: where do you start? The internal dialogue starts to

By Jay Fedak, CFP® | Fee-Only Financial Planner, New Milford, CT If you type “How much do I need to retire?” into Google, you will quickly discover that there is no shortage of opinions. Some say $1 million.Others say $2 million.A few headlines suggest $5 million or more, which is

By Jay Fedak, CFP® | Fee-Only Financial Planner, New Milford, CT It all started with a paper on a topic called “Prospect Theory” in 1979. Unbeknownst to the two cognitive psychologists, Daniel Kahneman and Amos Tversky, who began collaborating in 1969 they would become the founders of behavioral finance. They

By Jay Fedak, CFP® | Fee-Only Financial Planner, New Milford, CT Let’s look at some stark facts amongst all US based people over the age of 50: -About 50% have a will -About 45% have a health care proxy/POA and/or living will -About 40% have any form of documents qualifying

By Jay Fedak, CFP® | Fee-Only Financial Planner, New Milford, CT Ok, catchy rhyme but is it true? Dollar-cost averaging (DCA) means investing a fixed amount of money on a regular schedule, regardless of whether markets are up or down. Most retirement plans use this approach automatically through payroll contributions.

By Jay Fedak, CFP® | Fee-Only Financial Planner, New Milford, CT Sarah had $200,000 in cash in March 2020. When the market crashed 34%, she finally had her dip. She didn’t buy. “It might go lower. I’ll wait for clarity.” By late 2021, the market had recovered and pushed 80%