The Common Question: What if the Market Hits ZERO?

by Richard E. Reyes, CFP

If you are watching this video you obviously know that the world did not indeed end this past weekend. The more time that passes and I am in this great business the more I am absolutely amused not only by peoples behaviors but by their concerns and questions on certain things. It even seems there is often a big disconnect between the questions people ask and their true behavior.

Now don’t get me wrong, I encourage clients to question as well as have concerns. But undoubtedly, I get asked one single question every single time I meet with someone and we put together a plan. This is a question that I think God in his infinite humor at some time programmed us to ask over and over again. And no matter how much we know that it is very very difficult for it to actually happen. People ask it anyways.

The famous question is: So what happens to my money if the market goes to ZERO? Read More

What Happens If You File Your Tax Return Late

by Richard E. Reyes, CFP

File an Extension Here.

Its the morning before taxes are due and you might be freaking out right now. Well for that reason I thought it might be worth talking to you about what happens if you miss the deadline and wind up filing late or maybe not filing at all.

The short answer is that you might run the risk of the IRS coming after you for penalties and interest, and actually the IRS feels that failing to file is much worse than failing to pay on time. As the penalty for failing to file is stiffer than the penalty of failing to pay on time. Read More