Steve Musick

Since 1977, Steve has helped families discover their dreams and live life on their terms. He's dedicated to expanding financial freedom for his clients and his firm. When you can’t find him in the office, he’s probably out with a fly rod or tennis racket in hand.

Recent Posts

Creating a Legacy

on February 13, 2019 |By Steve Musick | Retirement Planning
“Tell me I am a good man”, the elderly James Ryan says   “What?”, replies his beloved wife   “Tell me I have led a good life.”   These are the last few lines of dialog from the film Saving Private Ryan. The elderly James Ryan is kneeling over a memorial grave stone in Normandy, France. He has returned to pay respects to the Captain who gave his life to save Ryan’s in 1944. James Ryan, like many people, has a deep visceral desire to leave a legacy. Do you? Do you want to know how?
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Finding the Needles in the Haystack

on December 03, 2018 |By Steve Musick | Other
One of the benefits of doing in-house research is that you can occasionally spot trends as they're forming. As an investment firm, being ‘early’ in spotting trends means that it could be possible to invest in areas of future demand, which brings the possibility of generating better returns. Since the turn of the century, our Investment Committee has met every Thursday.  Our Investment Committee is a seasoned, knowledgeable team dedicated to managing our clients’ capital. It requires strong discipline to rigorously look at large sets of data with the intent of detecting meaningful trends. In the ever-increasing wave of more and more information, it is a massive task to sift through the ‘noise’ to obtain important and actionable information. Very often, we keep this information to ourselves as a strategic advantage (we have never published or sold any of our research, nor will we). In the case I outline below, our research is becoming validated in others' published research. Like Sherlock Holmes, we think we have discovered something meaningful.  
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Hitting the Bullseye

on November 05, 2018 |By Steve Musick | Retirement Planning
Part of our work as asset managers is to generate sufficient cash flow for regular income.   A long-time client came in for a review last week, and we carefully reviewed her prior year income and expenses. She had managed her cash flows really well - right in line with her budget forecast for the year. Her Destiny Capital portfolio was specifically designed to distribute an exact amount of cash to her from her investments. We send this portfolio income to her bank account as an automatic quarterly deposit. Having an income target such as this allows us to construct the optimum investment portfolio in order to “Hit the Bullseye”. When we do this, her actual financial performance improves.  Having this bullseye allows us to position her total portfolio to function optimally and operate efficiently with only minor changes along the way. It keeps the majority of her capital invested to continue working for her. As a part of each review, we always ask what the next year looks like. In this case, she said "Well, I am thinking about doing something big next year with my kids and grandkids. I want to go see Mickey and Minnie with them in Orlando." She shot me the rough cost of the trip in addition to her standard annual budget. We adjusted her portfolio to make the new quarterly distributions and set aside the Disney trip money she would need for next summer. This is planning!  
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Why We Don't Use Standardized Tests

on October 18, 2018 |By Steve Musick | Retirement Planning
A new client visited us recently. Some lifelong friends, who are long-term clients of our firm, had referred them. The new clients had recently gone to a seminar and participated in an online planning process. It's now very popular for firms to have people take “standardized tests” to determine their planning parameters. The results painted a particularly bleak future for them, including needing to save more money each month than anyone reasonably could in today’s world or suffer the alternative of having to continue to work until they were 76 years old assuming they could keep their jobs, skills, and health for that long. Sometimes I think the firms that do this really believe that fear is a good selling strategy, but it created a perfect time for them to come in for a conversation. We sat down and flipped through their sixteen-page report that had been created from the standardized tests.
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Retirement With Healthcare Nimbility

on September 10, 2018 |By Steve Musick | Retirement Planning
This is the last of a three-part series on retiring with nimbility. So far, we've discussed being Mentally Nimble and Financially Nimble. Today we are going to conquer the fear of healthcare.   Recent research has determined the most significant expense facing this retiring generation - healthcare. The average cost for healthcare is now $22,000 per year per family and those costs are actually higher for retirees. Building strategies to manage through this reality is now a financial planning task that we embrace.  
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