Steve Musick, MSM, MSFS, MGS

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

Planning for Tragedy

Very early in the morning on a recent day, a client in another part of the country called. As I picked up she quickly said “I could not wake him up this morning. The ambulance just left for the hospital. Wanted you to know. Gotta go!”
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A Better Way to Plan for Retirement

One of the benefits of being in this profession for over thirty years is that we have seen broadly held industry assumptions about investments, rates of return, and strategies change dramatically over time. Our conservative assumptions about long term rates of return are built on our team expecting that the zeitgeist is probably wrong and the actual results are likely to be very different several decades into the future.
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Creating a Legacy

“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, MSM, MSFS, MGS | 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

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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