The market rout last week pushed every major asset class into negative territory for the one-year trailing period. That fact prompts Capital Spectator's James Picerno to note that asset allocation alone is not a risk mitigation strategy. "It’s a crucial part of portfolio design, but like everything else it’s not perfect. That’s not the same as saying that asset allocation has failed—far from it. But expecting that asset allocation in isolation will provide all your risk-management solutions at all times is expecting too much,” writes Picerno.
High-income doesn't necessarily mean more savings in the bank, according to an analysis by personal finance website GOBankingRates.com. The site ranks the states where residents are most and least likely to live paycheck to paycheck based on the percentage of the median paycheck left over after housing costs, food expenditures, transportation expenses, utilities and healthcare. Hawaii, for example, has the third highest median income in the U.S., but it ranks as the top state where people are most likely to live paycheck to paycheck due to its high cost of living. In Minnesota, people are least likely to paycheck to paycheck, with its sixth highest median household income and low cost of living. "Plenty of upper-income households live hand to mouth because of poor financial habits,” said Cameron Huddleston, GOBankingRates' Life + Money columnist. “In fact, a separate GOBankingRates' survey found that people earning $100,000 or more were more likely to fear always living paycheck to paycheck than those earning less."
Taking 'Money Matters' Nationwide
Sacramento financial advisory firm Hanson McClain Advisors is taking their radio show (and firm) on the road. The company, run by partners Scott Hanson and Pat McClain has recently signed a syndication deal to expand their "Money Matters" radio show to San Francisco. The reception has been so good there that they've hired one new financial advisor, with plans for two more as the Saturday morning call-in show has also expanded to Los Angeles, San Diego and Denver, according to the Sacramento Bee. The company is next looking to Portland, Ore., Seattle and Dallas, with plans to hire up to three advisors in each new market (new clients are required to have at least $100,000 in assets to invest). From there, Hanson McClain is looking to Arizona and other points east with a goal of doubling, to $4 million in assets.
