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Articles tagged with: investing

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Echo Wealth Management Celebrates $100 Million AUM and a Big Move to Their New Office Space

02 December 2019

In October 2019 Echo Wealth Management moved to a new office suite at ATRIA Corporate Center in Plymouth, MN. Our Open House Celebration that was held on October 25th featured Fresh Sushi and Thai Food from Lucky Street, Virtual Reality Car Racing from Aventures with VR and the wonderful company and conversation of our clients, colleagues, family, and friends.

Asset Allocation in Portfolio Design

Asset Allocation in Portfolio Design
Asset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance and investment horizon.

What You Need to Know about Non-Qualified Stock Options

28 June 2019

What You Need to Know about Non-Qualified Stock Options

Do you have any non-qualified stock options (NSOs) granted to you by your employer?  NSOs are a common equity compensation feature provided to management-level employees as part of a compensation package. They give you the opportunity to potentially profit from the price increase in your employer’s stock.  An employee stock option gives you the right to purchase a specific number of shares of your company’s stock at a specific price – the grant or strike price – within a specific time period.  The grant price is typically the market value of the stock at the time your company granted you the options. Here are some of the essential things you ought to know about your NSOs.

A Man is Not a Plan

30 April 2019

A Man is Not a Plan

Recently I heard a story from a 67-year old woman who had gotten divorced after twenty years of marriage. She had raised her daughter at home while she was younger and she didn't get much at all from the divorce. She is now collecting about $900 per month from Social Security income and working part-time to get by while sharing an apartment with others. She is fearful about her financial future because she has never managed money before and it's hard for her to find a job at her age. This month, I also heard another story about a woman who confided to her granddaughter in college that she had stayed in an abusive marriage for many years because she didn't have any control of money. Later, this woman's death resulted from falling down the stairs and was later confirmed not to be an accident. In fact, her abusive husband pushed her down the stairs. Staying because of money had literally cost her her life.

Mental Accounting and Other Cognitive Biases

30 March 2019

Mental Accounting and Other Cognitive Biases

Imagine that you decide to go to see a new movie.  You hand the cashier at the counter a twenty-dollar bill. She gives you back a ten-dollar bill and a ten-dollar ticket. But when you get to the theater door, you realize you don't know where your ticket is. It's just lost. Do you think you'd pay ten dollars for a new ticket, or would you just head home? If you're like most people, you might be tempted to head home. In fact, when the psychologists Kahneman and Tversky presented this problem to college students, fifty-four percent of people said they'd probably just head back home. 

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