Kirk Chisholm

Wealth Manager, Series 65
Personal Finance, Retirement, Investing
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“Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group. His roles at IAG are Co-Chair of the Investment Committee and Head of the Traditional Investment Risk Management Group. His background and areas of focus are portfolio management and investment analysis in both the traditional and alternative investment markets.”
Firm:

Innovative Advisory Group

Job Title:

Principal

Biography:

Kirk has been providing wealth management services to individuals, executives, entrepreneurs, and their families, as well as businesses and organizations since 1999. He works with clients to advise them on financial planning, risk management, and portfolio management. He is also an expert at using a self-directed IRA or self-directed 401K to invest in alternative investments. He particularly specializes in alternative investments such as: real estate, precious metals (gold & silver), tax liens, horses, franchises, private company stock, start-ups, intellectual property and more. Kirk is dedicated to developing lasting relationships with all of his clients. 

Education:

BA, Economics, Trinity College

CRD Number:

4004975

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April 2017
    Financial Planning, Real Estate
September 2016
    Real Estate
July 2016
    Personal Finance, Real Estate
January 2017
March 2017

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    Financial Planning, Retirement, Investing, Asset Allocation
Where should I hold my cash for safety?
67% of people found this answer helpful

You are worried about a lot of things, and rightfully so as you approach retirement.

Let me briefly touch on each one.

  1. First of all you should have an emergency fund. The purpose of this is to have safe money in case of emergencies. This is money that you take as little risk as possible, none if that were possible.
  2. You should diversify your assets into different areas.
    1. If you are concerned about inflation, you should focus on assets that do well during inflationary periods (stocks, precious metals, real estate, etc).
    2. If you are concerned about deflation, then you should focus on holding cash, and safe bonds that pay a reliable income.
  3. Invested funds. Your invested half should be focused on investments that can sustain you through retirement. Consider how you would be affected if the stock market crashed by 50% ( like it did in 2007-2009). What if it didn't recover like it did. Would you be able to handle this?
  4. If you are really concerned about safety, then focus on putting your safe or emergency funds into safe investments with little to no risk [ high yield bonds do not fall into this category]. This would include CDs, treasuries, high grade corporate bonds. 
  5. You might want to consider getting professional advice. This is an important time in your life where you cannot afford to make a mistake.

A few side notes: We have experienced sustained inflation for over 60 years in the US. most people have only experienced this type of environment. While it may continue, don't make that assumption. Some people thought real estate prices would go up forever too. Consider how deflation could impact your wealth. Most people are not familiar with how deflation works. If this happens in the US then pay down your debt and don't try to "make" money. It is very easy to lose money during deflation. Sometimes the winner is the one who loses the least.

I hope you found this helpful.

Kirk

March 2016
    Social Security
Is it better to start SS benefits at 62 or 66?
67% of people found this answer helpful
April 2016
    Investing, Asset Allocation, Stocks
Are high risk stocks still a good option for young investors?
63% of people found this answer helpful
March 2016
    Investing, Asset Allocation
What is the difference between investing and speculating?
61% of people found this answer helpful
July 2016
    Investing, Stocks
What is the best investing strategy for a 20 year old?
60% of people found this answer helpful
July 2016