When is enough, enough? Many investors have recently found solace in growing their cash reserves, whether in their checking accounts, savings accounts, or certificates of deposit (CDs). With attractive yields and recent market turbulence still fresh in mind, it’s easy to assume that loading up on cash is a safe strategy.

But there’s a hidden cost to keeping more money than you need. Not only does excessive cash limit your growth potential, but it can erode your long-term wealth, all because of a mix of emotional biases, historical events, and overlooked risks.

• [03:56] Artificial anchoring and recency bias can lead to overly cautious investing decisions.
• [09:14] Cash underperforms stocks and bonds long-term.
• [11:30] Market timing is risky; missing the 10 best days can significantly reduce returns.
• [15:10] Optimize cash flow through strategic sales while considering tax efficiency.
• [19:50] Maximize equities in a portfolio for high returns.
• [20:39] Focus on planning goals for the next 5 to 7 years.

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At Financial Symmetry, our internship program has become a core pillar of our growth, innovation, and client experience.

Over time, our program grew from simply filling resource gaps to a foundational development engine, helping to shape the services Financial Symmetry offers and the team culture itself.

What has emerged from these iterations is the recognition that our best chance of success comes from integrating interns directly into the firm’s core wealth management processes. This hands-on approach creates a feedback loop where interns don’t just complete busywork; they contribute valuable perspectives and even shape workflows that staff rely upon to this day.

• [00:00] Financial Symmetry’s influential internship program, with insights from Heather Gudac.
• [04:13] Refining processes through internships.
• [06:42] Internship growth and uniqueness.
• [12:06] Intern assessment and development process.
• [14:50] Empowering interns through engagement.
• [17:49] Internship planning and goal setting.

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Claiming Social Security as soon as you become eligible at age 62 is a common choice for Americans. While understandable, this decision can have significant, and often underappreciated, long-term consequences. For many, the urge to claim early may stem from financial necessity, lack of other income sources, or simply a desire to “get what you’ve paid for.” However, claiming early can reduce your benefit by as much as 30% compared to waiting until your full retirement age (typically around 67).

If you are in the fortunate position of having other income sources, such as a pension, 401(k), brokerage accounts, or IRAs, delaying Social Security becomes a viable strategy. This moves the decision away from immediate need and toward maximizing lifetime income, building multigenerational wealth, and supporting charitable or legacy goals.

• [00:00] Most Americans claim Social Security at 62 due to a lack of other income, but those with additional resources or financial advice might delay claiming for long-term wealth planning.
• [04:16] Consider life expectancy in financial planning, especially for married couples.
• [08:56] Evaluate claiming benefits at different ages to optimize long-term financial outcomes, considering life expectancy and age gaps between spouses.
• [11:38] Social Security benefits, combined with other income, affect your tax bracket.
• [16:00] It’s important to integrate Social Security decisions into your broader retirement plan, considering income sources, tax liabilities, legacy goals, and timing.
• [17:18] Retirement tax decisions are complex, involve varying tax rates, and impact Social Security timing strategies.

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