The Welch Group
Stewart Welch, CFP

Welch Group founder and managing partner Stewart Welch III, AEP, CFP® and other firm partners provide a weekly financial column for via The Birmingham News. All of the columns are archived here for your reading pleasure. Mr. Welch has co-authored numerous books and regularly appears on various TV and radio shows including FOX 6 (Birmingham, AL), CNN (NY), Fox News Network (NY), CNBC (NJ), and is often quoted in national press including The Wall Street Journal, Fortune, Money and

If you have a financial question to be answered in the weekly column, fill out this form. Consult your own professional legal, tax or financial advisor before acting upon this advice.

Why I Prepaid My Funeral Expenses

Most people don’t think about their own funeral expenses…ever!  It’s only after they die that another family member steps up and handles the details, often under emotional duress. Personally, I’ve had two experiences that shaped my decision to prepay my funeral expenses: Story #1 Years ago the wife of a friend of mine, who is […]

Retirement Healthcare Expenses: Are You Ready?

Insurance Companies Exiting the LTC business Genworth, a major writer of long-term care insurance (LTC), recently announced they’d no longer offer LTC insurance through brokers and, instead, would only offer coverage ‘direct-to-consumer’.  This is an effort to cut the enormous expenses of commissions paid to brokers and reflects declining demand for LTC products.  Demand has […]


5 Tips for Getting Your Dream Summer Job

The weather is mixed…some cool days, some hot days, but make no mistake, Summer is just around the corner.  Unless you have the luxury of taking the summer off, now is the time to line up a great summer job.  Here are my best tips for landing your dream summer job: Decide what type of […]

2 Million Reasons to Quit Smoking

We recently were working with a client who, we determined, needed a large amount of life insurance to cover a business buy-out.  He uses smokeless tobacco but is otherwise in good health.  When we checked rates for him, we were astounded at the additional costs because he used tobacco.  This got me thinking about the […]


Good Places to Spend Your Tax Refund

As Financial Advisers, we often speak of ‘what not to do’ with your money.  Don’t get a car loan; save and pay cash.  Don’t use credit cards to buy stuff if you can’t pay them off in full every month.  Pay attention to your spending and don’t buy stuff you don’t need.  Well, you’re about […]

5 Reasons Not to Retire

Much of my professional time is spent either strategizing with clients about their retirement or writing about this topic.  It seems engrained in our brains to ‘work towards’ our retirement.  Most people target retiring around age sixty-five with a few thinking earlier and some later.  Some, but very few, have no intention of retiring.  These […]

Are You an Empty Nester? Do this!

I get it.  Raising kids is not only hard, it’s very expensive!  According to the U.S. Department of Agriculture, the average cost of raising a child for a middle-income family is $233,610…not including college!  This comes out to about $14,000 per year per child.  It’s no wonder that the average savings account balance across American […]

7 Reasons to Downsize Your Home Before Retirement

Many parents have a lot of emotional attachment to the home where they raised their children.  There are so many memories associated with virtually every room in the home, the yard, the neighborhood.  But the home that was big enough for your family is likely much larger relative to your needs in retirement.  What has […]

Will Your Children Have Your Family Values?

In my latest book, “J.K. Lasser’s New Rules for Estate, Retirement & Tax Planning- 6th Edition” (published January 2019), I discuss a strategy for passing along your family values to your children. If you have young children, I know you feel your first responsibility is to provide for their basic support including food, shelter, clothing […]

How Would You Define Rich?

You know someone who has a very nice home and fancy cars and you think, “They must be rich”.  But are they really rich?  And how would you define rich?  Is rich and wealthy the same thing? Too many people confuse a high income with being rich or wealthy.  There are a lot of people […]