Top IRA Trouble Spots

by Stacy Francis, CFP®, CDFA

Individual Retirement Accounts (IRAs) now hold more assets than any other retirement savings vehicles, but many people do not understand how they work and many IRA owners make critical mistakes that can cost them money. Here are some ways you can ensure that your IRA works for you.

1. Begin your required minimum distributions on time. Regardless of whether you are still working, you must begin taking an annual minimum required distribution from your traditional IRA no later than April 1 following the year you turn 70 1/2. You have much more flexibility with a Roth IRA and are not required to take distributions. However, for a Traditional IRA you will have still penalties if you don’t withdraw enough or you don’t withdraw it on time. You will owe up to 50 percent of the difference between the amount you took out and the amount you should have taken out. Why is the IRS so strict about taking distributions from a Traditional IRA and not a Roth IRA? The IRS wants your tax dollars. You must pay taxes on your distributions from a Traditional IRA while distributions from Roth IRAs are generally tax-free.

2. Don’t wait until the last moment. Don’t wait until the April 1 deadline to take out your initial minimum withdrawal. Don’t forget that you’ll have to make another withdrawal by December 31 of the same year. Watch out because these withdrawals in the same year could bump you into a higher tax bracket and increase your tax liability. Don’t let this happen.

3. Name a “real” beneficiary. One of the biggest mistakes is not naming a real (human) beneficiary. If you do not name a person, your assets will most likely go to your estate and this will cost you more money. That’s because if you hadn’t already started taking distributions yourself by the time of your death, the IRA assets must be distributed to your estate’s heirs within five years of death. Or if you had started, distributions must be paid out to the heirs over what would have been your remaining life expectancy. Either way, leaving your IRA to your estate deprives your heirs from “stretching out” the tax-deferred assets over their own lives and creates a bigger tax bill.

4. Name a contingent beneficiary. This allows the primary beneficiary to “disclaim” (reject) the IRA inheritance if he or she doesn’t need the money so that it automatically passes to the contingent, who typically is younger and can stretch out the inheritance longer.

5. Name the right beneficiary. Your spouse or parent isn’t always the best choice to name as the primary IRA beneficiary. An adult child might be a better choice. If you choose a young child you will want to consult a professional to find out if you need to set up a trust in their name to control the assets and distributions.

6. Changing your beneficiary. Don’t forget to change, in writing, your beneficiary in the event of a marriage, divorce, birth of a child, death of a beneficiary or similar circumstances.

2 Comments

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

How International Do You Want to Be?

by Stacy Francis, CFP®, CDFA

Paris, London and Rome, here we come!

Care to own a little of London or un petite peu de Paris? The relationship between international stocks and retirement savings is along the same lines at brie and French baguettes - you shouldn’t have one without the other.

There is no practical limit to how much of a retirement account can be invested internationally; although, like anything, you don’t want too much of a good thing. Usually 10 percent to 35 percent of international exposure in your portfolio is sufficient.

Mutual funds are by far the easiest way to invest internationally. Your options include international funds (which invest in countries outside of the U.S.), global funds (which invest all over the world, including the U.S.), regional funds (which specialize in one region, such as Europe or Latin America), and country funds (which invest in just one country). There are also emerging markets funds, which invest in countries with younger, less well-developed economies.

The United States stock market is the largest in the world, but it still only represents about half of the global stock market. So get out there and see the world and invest in international stocks through mutual funds.

Savvy Ladies’ Tip: Look at all the things you normally would when choosing a fund, like the fund management, costs, past performance and overall fit with you portfolio. Pay special attention to fees, which tend to be higher in foreign funds than domestic funds, and the experience of the fund manager in that particular part of the world. Visit http://www.Morningstar.com to get this important information.

1 Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

Overreacting to the Market

by Stacy Francis, CFP®, CDFA

If you are developing a nervous twitch lately it may be a sign that you are a market over-reactor. While there will always be an economist that preaches doom and gloom, be assured that while the economy may have slowed, it hasn't fallen off the cliff.

Let’s look at a few bright spots! The housing market is booming. Record numbers of people are buying and selling homes. Look at house construction. Yes, it's higher too.

Consumers like you and I are also spending in droves. We are helping this country actually buy itself out of this recession. And overall job growth is slowly increasing.

Fact is, while many people overreact to bad news, it pays to keep your cool.

2 Comments

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

Should You Be on the Field or On the Sidelines?

by Stacy Francis, CFP®, CDFA

When the market is in transition, it's tough to decide whether to be in the game or on the sidelines. In order to know the answer to this question what we really need is a crystal ball. Since neither you nor I have access to a crystal ball we need to look at alternatives.

The best way to accurately predict the future is to invest in it. Certainly it's better to have money working. Worried money sitting in a checking account never makes money.

The best bet for the future involves investing in a diversified portfolio of stocks and bonds. By spreading out your investment portfolio, you usually can reduce risk, minimize losses, and take advantage of the next "surprise" winners.

Savvy Ladies’ Tip: Throw your crystal ball away and start getting in the game.

1 Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

Asset Allocation Made Sexy. Where Should You Put Your Money?

by Stacy Francis, CFP®, CDFA

Achieving a secure financial future has less to do with picking the right stock or mutual fund and more to do with the method in which you divide or diversify your investments. Studies show that asset allocation will account for about 90% of your return. The selection of individual securities and market timing will account for the remaining 10% or so.

As you know an investor’s group of investments, frequently called an investment portfolio, can be divided in numerous ways among stocks, bonds and cash management options. But what should you invest in? To answer this question you will first need to determine your investment profile. What investment profile you chose is based on three main factors – your investment goals, your appetite for risk, and your time horizon.

Your Investment Goals Goals are specific things (e.g., buy a house) that people want to do with their money. Your selection of investments should relate closely to your financial goals; each goal will define the amount and liquidity of the money needed as well as the number of years available for the investment to grow. Liquidity refers to how quickly an asset can be converted into cash. Your house is not a liquid asset because it could take months to sell it. However, your savings account is extremely liquid and can provide cash fast with no penalties.

Your Risk Tolerance Risk tolerance is a person’s emotional and financial capacity to ride out the ups and downs of the investment market without panicking when the value of investments goes down. As you can imagine, risk tolerances vary widely. If thoughts about your mutual funds latest negative returns are keeping you up at night, this is a big clue that you should select saving and investment options with lower risk. On the other hand, it’s important to realize that not taking enough risk has its own set of risks. Conservative investments may not grow as quickly and could stop you from reaching your long-term goals such as retiring early.

Your Time Horizon Time is money. Time is one of the most important resources for investors. A youngish investors with a long time horizon may choose investments that have wide price swings, knowing that time is available for fluctuations to average out. Families investing for a specific mid-life goal (e.g., funding a child’s education or purchasing a home) may choose a more moderate course which has opportunity for growth, but guarantees more safety for the principal. Individuals nearing retirement and those with the need to depend on investment income to cover daily expenses, may wish to select investments that lock in gains and provide a guaranteed income stream.

1 Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

So You Think You Are a Stock Picker?

by Stacy Francis, CFP®, CDFA

Here's something that happens all the time to me: somebody will mention they're thinking of buying a certain “hot” stock. The next question is if I think that's a good idea? I always give them the same answer - I don't know.

Whether or not you should purchase a stock depends on quite a few factors. Is it the only stock somebody will own? Or only one of ten stocks? How diversified is their portfolio? How much money do they have invested? What are their life goals? No matter how good the market is some years, often the majority of stocks can go down. Let’s take the late 1990s.

The S&P 500 was up quite a bit if you remember, but this was because of a handful of good performers. Over 400 stocks were actually down. More recently, we all painfully remember 2008. Enough said about that.

The great advantage of a mutual fund is that it can invest in a lot of stocks. Some will go down. But the mutual fund can hold so many more stocks than you could possibly own yourself that it makes sense to leave the stock picking to the professionals.

Savvy Ladies’ Tip: Get savvy about mutual funds and be sure to read “Find The Right Mutual Funds” by Morningstar.

Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

The Benefits and Risks of Owning a Home

by Stacy Francis, CFP®, CDFA

With all of the excitement in real estate lately, you might be wondering if you should take the plunge and buy a home. Homeownership has many advantages – both financial and personal. But there are many things to consider before you jump in and make your purchase. Here we take a look at some of the benefits and expenses of owning your own home.

Firstly, the differences between renting and homeownership are:

Tax savings There are possible tax savings to be derived because you can deduct mortgage interest and property taxes from your federal income tax and many states’ income tax if you itemize your deductions.

A more stable monthly housing expense Depending on the type of loan you choose, you may be able to budget your finances more definitely. If you choose a fixed rate, your monthly housing loan or mortgage expense can remain the same for the life of your mortgage.

Equity Equity is the difference between the fair market value (appraised value) of the home and the outstanding mortgage balance. It is possible to build equity in your home over the life of your loan. This will allow you to plan for future goals like your child's education or your retirement. But be careful, there are advantages and disadvantages to using the equity.

While there are advantages such as tax savings and equity, owning a home can cost a lot. Homeownership may not be right for everyone. You may not be in a situation in life where you are able to make the big commitment that is associated with owning a home.

So what are the risks of homeownership?

Monthly housing expenses can increase If you’re not careful, your monthly mortgage payment may be larger than your rent. While these higher monthly payments may be offset by a tax benefit at the end of the year, it is still a lot of money to let go at the time. It is recommended that you talk to a tax professional to understand your particular situation.

You become your own landlord This may sound like a good thing, and it certainly has its advantages, but being your own landlord means more responsibilities. If an appliance breaks, you will have to pay for its repair or replacement. You are also responsible for the maintenance and upkeep of your home and your property.

You must sell your house to move Owning a home is a big deal. If you decide to move one day, it isn’t as easy as packing up and leaving. Depending on the local real estate market, you might not be able to sell your home quickly.

Property values can depreciate Like with most products, the minute you purchase it, its value could depreciate. You can lose value in your home for a number of reasons, such as a recession, the condition of your home not being kept up, or a drop in a neighborhood's home values. If your home loses value and you have to sell it for less than you owe, you will be required to repay the full mortgage.

Overall, homeownership is a good investment for most people, but there are risks. If you understand the benefits and risks of homeownership, you can make the best decision about when to buy a home.

Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

Give the Little Guy a Chance

by Stacy Francis, CFP®, CDFA

As in any crowd, the noisy guys get most of the attention. In the money world, large capitalization (cap) stocks are always on investors' minds because they're so darn big.

But a bunch of little stocks, known as the small caps, have been working away diligently in the background. In today's investment climate, small caps can have something to offer and should be part of any diversified portfolio. Many of these smaller companies have put peddle to the metal and cut costs, boosted earnings, and benefited from lower interest rates

The addition of small cap stocks to a portfolio can help increase return over the long-term. However, you should probably keep the small-cap portion of your holdings to 10 percent to 15 percent of your overall portfolio. Over the past eight decades or so, small stocks have been roughly 60 percent more volatile on average than large stocks, according to data compiled by Ibbotson Associates. On the other hand, over very long periods of time, small-fry stocks tend to outperform the big boys by an annualized one-and-a-half to two percentage points. As with anything in investing, don’t get too greedy at the expense of taking on too much risk.

Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

Celebrity Inc

As part of her MoneyZen series, women and money expert Manisha Thakor highlights every day personal finance lessons that can be extracted from Jo Piazza's new book Celebrity, Inc. 

Read More

A "Hair"-oing Tale: What Does It Mean For Your Career?

Women & money expert Manisha Thakor explores the impact on long term women's economic empowerment of pieces that deride professional women for the very bodies they were born with. In this case, she examines the backlash facing former News Corp International CEO Rebekah Brooks' choice to appear in Parliament with... gasp... her real hair down.

Read More

Are Your Bonds Safe?

by Manisha Thakor

"Last year I invested in a bond fund and now I've lost money. What happened? I thought bonds were supposed to be safe investments!" 

Recently several people have asked me this same question. Given the turbulent economic times we're (hopefully!) coming out of, it's understandable that folks want to find a "safe investment" to hunker down in.

Alas, the phrase "safe investment" is an oxymoron. The whole point of investing is taking on some risk with the hope, but not the guarantee, of earning a higher return than you'd get from doing something risk free.

So how did bonds get the reputation of being "safe?" Well, at their core, bonds are loans. You lend money for a pre-determined period of time. In return you receive interest at specified intervals. When your loan (a.k.a. bond) matures you get back the money you originally loaned - if the entity hasn't gone bankrupt.

It is the return of that original investment that has caused people to view bonds as "safe" investments. Alas, there are always risks with any investments. The two classic ones for individual bonds are:

  1. Credit Risk: This is the risk that the entity you lend to goes belly up and can't pay you back.

  2. Interest Rate Risk: Bonds are like seesaws. When interest rates go up, the price of bonds go down. If you hold your bond until it matures, the impact is all on paper. But if you are forced to sell your bond before its maturity date and interest rates are higher than when you bought that bond, the price you'll receive will be less than you originally invested.

Another problem with individual bonds is you often need a pretty hefty chunk of change to buy them. This is where bond mutual funds come in. For example, if you had $10,000 to invest you might be able to buy one bond. But by pooling your money with other people's money, bond mutual funds enable you to take that $10,000 and spread it out over many different bonds. That helps you spread out your risk.

However, when individual investors decide to take their money out of a bond fund, the portfolio manager may be forced to sell bonds at less than desirable prices to give them back their money. You could call this liquidity risk. Over the past year, as interest rates have inched up and there have been concerns about credit quality, the price of some bond funds has declined as these risks all reared their heads.

What does this mean for you? It means that like stock funds, bond funds also have some risk associated with them. They should not be thought of as "100% safe" substitutes for FDIC insured savings accounts. Rather, they are intended to be part of a well-balanced portfolio. Another way to keep your risk low is to invest in bond funds that have average maturities of 5 years or less because they seesaw around less violently as interest rates move.

What additional questions do you have about bonds or bond funds?


Want more financial love? You can follow Women's Financial Literacy Initiative founder, Manisha Thakor, on Twitter at @ManishaThakor or on Facebook at /MThakor.

Comment /Source

Manisha Thakor

From Manisha's linkedin profile page:

Manisha Thakor is the Director of Wealth Strategies for Women at Buckingham Strategic Wealth and The BAM Alliance. 

Manisha and her colleagues provide both evidence-based wealth advisory services for high-net-worth households and core asset management solutions for women and families nationwide with $80,000 or more in investible assets. 

An ardent financial literacy advocate for women, Manisha is the co-author of two critically acclaimed personal finance books: ON MY OWN TWO FEET: a modern girl’s guide to personal finance and GET FINANCIALLY NAKED: how to talk money with your honey. She is on Faculty at The Omega Institute and serves as a Financial Fellow at Wellesley College. Manisha is also a member of The Wall Street Journal’s Wealth Experts Panel, a member of the 2015 CNBC Financial Advisor’s Council, and wearing her financial educator’s hat serves as a part of TIAA-CREF’s Women’s Initiative. 

Manisha's financial advice has been featured in a wide range of national media outlets including CNN, PBS, NPR, The Today Show, Rachel Ray, The New York Times, The Boston Globe, The LA Times, Real Simple, Women’s Day, Glamour, Essence, and MORE magazine.

Prior to joining the Buckingham team, Manisha spent over twenty years working in financial services. On the institutional side she worked as an analyst, portfolio manager and client relations executive at SG Warburg, Atalanta/Sosnoff Capital, Fayez Sarofim & Co., and Sands Capital Management. After this she moved to the retail side and ran her own independent registered investment advisory firm, MoneyZen Wealth Management. 

Manisha earned her MBA from Harvard Business School in 1997, her BA from Wellesley College in 1992 and is a CFA charterholder. She lives in Portland, OR where she delights in the amazing Third Wave coffee scene and stunning natural beauty of the Pacific NorthWest. Manisha’s website is MoneyZen.com.

Gen X & Gen Y – Dialing Financial 911

by Manisha Thakor

Six Reasons Why Gen X & Gen Y Need Some Serious Financial TLC  

  • They’re scared: They’ve entered their adult years during a gut-wrenching economic and job market. With unemployment over 9.5%, they’ve seen their parents struggle. Over 7 out of 10 Americans are now living paycheck-to-paycheck.

  • They are making poor decisions: As a result of that fear they are not making the best long-term decisions for their futures. A recent ICI study shows only 34% of investors under age 35 are willing to take substantial risk with their retirement money – the exact time in their lives when they should take that risk.

  • Something as “simple” as a 20-year head start can give you 5x more money: Let’s take 2 people. Jane starts saving $5,000 a year at age 25 for her retirement every year until age 65 and gets an average return of 7%. Jane has a $1 million nest egg by retirement. Joe starts saving $5,000 a year at age 45 for retirement every year until age 65 and also gets an average return of 7%. Joe has $200,000 in his next egg. That 20-year head start gave Jane 5x more money. That’s why learning the basics of personal finance – how to budget, get out of debt, and save so you can get that retirement fund funded in the key early years is so vital.

  • Young adults consume information differently so there’s a delivery challenge when it comes to education: Studies shows that young adults want their financial education delivered in a 21st Century way. They want it web-based with robust, interactive tools. And unlike their “I’ll do it myself” parents, these emerging adults want help and guidance.

  • Nearly half of Gen Y has below average financial fluency: A study by The National Foundation for Credit Counseling showed that nearly half of this generation did not understand how to save and budget and that 45% of them have no savings!

  • The financial world is geometrically more complex: Part of the reason for the above statistic is due to the fact that financial literacy is not taught in schools as a core life skill. Young adults often rely on parents who were brought up in “financially simpler” times and aren’t equipped to help. They are also bombarded by so many more unrealistic media images about what “normal” lives are like.

So, what’s the solution?

If you or someone you love is a Gen X or Gen Y-er… encourage them to self-educate.  Here are some of my favorite personal finance sites – all of which I’ve either written for or read regularly myself:

What about you – any additional resources to recommend to Gen X & Gen Y?

[For more MoneyZen in your life, follow Manisha on Twitter at @ManishaThakor, on Facebook at /ManishaThakor, or visit MoneyZen.com.]

Comment

Manisha Thakor

From Manisha's linkedin profile page:

Manisha Thakor is the Director of Wealth Strategies for Women at Buckingham Strategic Wealth and The BAM Alliance. 

Manisha and her colleagues provide both evidence-based wealth advisory services for high-net-worth households and core asset management solutions for women and families nationwide with $80,000 or more in investible assets. 

An ardent financial literacy advocate for women, Manisha is the co-author of two critically acclaimed personal finance books: ON MY OWN TWO FEET: a modern girl’s guide to personal finance and GET FINANCIALLY NAKED: how to talk money with your honey. She is on Faculty at The Omega Institute and serves as a Financial Fellow at Wellesley College. Manisha is also a member of The Wall Street Journal’s Wealth Experts Panel, a member of the 2015 CNBC Financial Advisor’s Council, and wearing her financial educator’s hat serves as a part of TIAA-CREF’s Women’s Initiative. 

Manisha's financial advice has been featured in a wide range of national media outlets including CNN, PBS, NPR, The Today Show, Rachel Ray, The New York Times, The Boston Globe, The LA Times, Real Simple, Women’s Day, Glamour, Essence, and MORE magazine.

Prior to joining the Buckingham team, Manisha spent over twenty years working in financial services. On the institutional side she worked as an analyst, portfolio manager and client relations executive at SG Warburg, Atalanta/Sosnoff Capital, Fayez Sarofim & Co., and Sands Capital Management. After this she moved to the retail side and ran her own independent registered investment advisory firm, MoneyZen Wealth Management. 

Manisha earned her MBA from Harvard Business School in 1997, her BA from Wellesley College in 1992 and is a CFA charterholder. She lives in Portland, OR where she delights in the amazing Third Wave coffee scene and stunning natural beauty of the Pacific NorthWest. Manisha’s website is MoneyZen.com.