Allan Roth is the founder of Wealth Logic, an hourly-based financial planning firm in Colorado Springs, Colo. He has taught investing and finance at universities and written for Money Magazine, The Wall Street Journal and others. His contributions aren't meant to convey specific investment advice.

4 Reasons Not to Load Up on Muni Bonds

Many brokers recommend investing in municipal bonds. Municipal bonds, a.k.a. munis, are a debt security issued by a state, municipality or county to finance its capital expenditures. Most are exempt from federal taxes and even state taxes if you live and file taxes in the issuing state.  They are often pitched as being very safe with a long history of low default rates. Get the latest tips on protecting your money and saving for retirement — AARP Money newsletter » So …

Beware of Financial Designations and Awards

When you walk into my office, you may notice a beautiful granite and glass plaque gracing my bookcase that displays the honor of being one of “America’s Top Financial Planners.” It was awarded by the Consumers’ Research Council of America, whose address on Pennsylvania Avenue is less than a half mile from the White House. Now before you think I’m just tooting my own horn, this impressive plaque is actually inscribed with the name “Max Tailwager” — my beautiful and loyal …

Investing — It’s OK to Have Some Fun

In a recent column I exposed my own portfolio and its daring dullness. It is that very dullness which, I believe, is the key to its success. Still, beneath this dull exterior beats the heart of “The Gambler.” Even yours truly gets the occasional urge to buy that risky stock, offering the possibility of a 1,000 percent return, and sometimes I just can’t resist acting on that thrill-seeking urge. That’s why I carve out a small piece of my portfolio …

Fight Financial Clutter (or Do as I Say , Not as I Do)

As a financial adviser, I’ve seen a lot of clutter in people’s financial lives. I know people who have dozens of financial accounts. Problem is, the more accounts one has, the harder — and more time-consuming and stressful — it is to keep track of everything. I know one person, for instance, who has about a dozen different bank accounts, three brokerage accounts, and many stocks and mutual funds in these accounts. Though I typically don’t name people in my …

Financial Adviser Exposes Own Portfolio

People are often surprised when I describe my personal portfolio to them. Using an analyzing tool from Chicago-based Morningstar, I’ve put together a brief description of my own daringly dull portfolio and, far more important, why it looks like it does. Most of my investments are in mutual funds with an average expense ratio of 0.16 percent annually. I don’t have enough money to diversify by buying individual stocks, so I buy low-cost index funds that track the overall market. …

3 Reasons to Consider a ‘Robo-Adviser’

I’m a fan of the so-called “robo-advisers.” These are online wealth management services that provide automated software-based portfolio management advice without the use of human advisers. Two of the larger robo-advisers are Betterment and Wealthfront. In addition, Schwab recently launched its version, branded Intelligent Portfolios, and Vanguard has a product called Personal Advisor Services. Here are three reasons I’m a fan of these adviser services: Lower fees Fees matter. And because they do, I encourage people to get real when …