Business

Are Your Investment Goals Unrealistic? Goldstone Financial Group Weighs In

Published

4 years ago

February 15, 2021

How much should American retirees temper their investment expectations against market fluctuations?

If you had posed the question this time last year, you probably would have received a flurry of cautiously optimistic responses as investors looked forward to what they had every reason to believe would be another bull market year. Optimism was rampant — and exciting for investors and retirees, who saw the climbing Dow as a sign that they would be able to live out their sunset years with comfortably-padded retirement accounts.

“Nobody in the financial sector wanted to bring people down with dire predictions when the market appeared to be doing so well,” Anthony Pellegrino, the owner and co-founder at Goldstone Financial Group, noted of the mentality at the time. “Investors get fired up when they see reports of record highs.”

“I remember in 2015, there was major pushback from financial professionals when experts at Research Affiliates analyzed financial data from the preceding century and reported that it would be ‘optimistic’ to plan for even a five percent long-term return on a traditional portfolio. People were shocked — and a lot of them rejected those projections as being overly cautionary when the market remained strong.”

And at the close of 2019, the market’s strength appeared to be on-track to persist. But within the first few weeks of the new year, the Covid-19 pandemic upended the global economy and caused the Dow to plummet. Ten months have since passed, and both have begun to recover.

“It’s not so much about good vs. bad news,” Ryan Detrick, senior market strategist at LPL Financial, recently told USA Today. “The economy is still nowhere near its output prior to the pandemic. But things are getting better.”

However, amid that improvement, those saving for retirement have been forced to question whether the need to revise their expectations for their accounts. The pandemic has demonstrated the dangers of assuming that good times will continue indefinitely — but how pessimistic should investors be about the future?

“This conversation always reminds me of the letter that Warren Buffett sent to his shareholders in early 2008,” Goldstone Financial Group’s Anthony Pellegrino says of expectation-setting. “Back then, he told people to check their perceptions of Dow growth and warned about the dangers of taking those increases out of context. That advice remains just as relevant — if not more so — today.”

For context, here’s the passage that Pellegrino references from Buffet’s 2008 letter:

“During the 20th Century, the Dow advanced from 66 to 11,497. This gain, though it appears huge, shrinks to 5.3% when compounded annually […] For investors to merely match that 5.3% market-value gain, the Dow — recently below 13,000 — would need to close at about 2,000,000 on December 31, 2099 […] I should mention that people who expect to earn 10% annually from equities during this century — envisioning that 2% of that will come from dividends and 8% from price appreciation — are implicitly forecasting a level of about 24,000,000 on the Dow by 2100.”

“If your adviser talks to you about double-digit returns from equities,” Buffett concluded, “Explain this math to him.”

When taken into consideration alongside the uncertainty posed by Covid-19, Buffett’s math provides investors with ample reason to be careful. But what measures can aspiring retirees take to protect themselves and their accounts?

Goldstone Financial Group’s Anthony Pellegrino points to three main strategies — consulting a fiduciary advisor, exploring IRA opportunities, and moving away from a buy-and-hold norm.

Consulting a Fiduciary

Are you intimidated by market fluctuations and want a professional’s help in navigating them? A fiduciary advisor can help.

“I cannot stress the importance of finding a fiduciary advisor enough,” Pellegrino emphasizes. “If you opt for a non-fiduciary professional, well, I’ll borrow another Buffett quote — ‘beware the glib helper who fills your head with fantasies while he fills his pockets with fees.’”

A fiduciary advisor is a financial professional who is legally obligated to act in their client’s best interests. They can only purchase and sell investments that they believe are well-suited to their clients’ needs and goals, and they cannot base their decisions on whether their suggested investments would provide the best kickbacks.

As writers for NerdWallet summarize: “Fiduciaries are held to a significant level of trust with their clients and must avoid conflicts of interest. If your financial advisor does not have a fiduciary duty to you, they may be able to recommend investments or products that pay them a bigger commission over ones that would be the best fit for you, which could cost you more.”

Every single investment advisor employed at Goldstone Financial Group is a certified fiduciary advisor. The logic behind this policy is simple.

“We want our clients to get the best possible advice,” Anthony Pellegrino says. “Having advisors who are held to a fiduciary standard ensures that they receive exactly that.”

Explore IRA Opportunities

Think you can’t touch the money in your 401(k) until you retire? Think again! Pellegrino and the fiduciary advisors at Goldstone Financial Group often suggest that their clients withdraw a portion of their account balance and roll it over into an IRA account. The benefits of this tactic, Pellegrino says, include increased flexibility with investments.

“A nontaxable rollover to an IRA would give you more freedom to work with your financial advisor in choosing investments,” Pellegrino explains. “That said, you should always consult with your tax professional about potential tax implications before embarking on this strategy.”

Rethink Buy-and-Hold

Making investments and holding onto them indefinitely isn’t always the best strategy for long-term growth.

“You may want to opt for tactical managed asset accounts that will allow you to capture and participate in the stock market’s upside and then, when the market declines, shift your assets to cash,” Goldstone Financial Group’s Anthony Pellegrino suggests. “Sure, you may still experience a loss — but typically, you’ll lose less than you would with a buy-and hold-strategy.”

At the end of the day, Pellegrino offers one piece of advice that supersedes all others.

“Don’t go through this alone. Your situation is unique, and the solutions you need will be equally so. Consult with a fiduciary advisor to see how your expectations and plans stack up against market conditions.”

Business

Remote Professionals Getting More Value for Their Work Thanks to Borderless Banking

Published

4 days ago

July 10, 2025

Matthew Wiles

Not too long ago, the idea of working remotely from an island in Thailand or a co-working space in Berlin sounded like the kind of fantasy only tech moguls or backpacking freelancers could afford.

Fast forward to today, and it’s as good as a global reality. Millions of professionals have cut the cord from traditional office life in exchange for flexibility, freedom, and a work-life balance that fits their personal rhythm and not their employer’s timezone.

However, as remote work has reshaped how people earn a living, it’s also pointed out the existing limits to most of the world’s financial systems. Traditional banking simply wasn’t built for a workforce that’s always on the move, operating in multiple currencies, and getting paid across borders.

Thankfully, that’s where borderless banking like Black Banx have proven vital, and has quietly transformed the way money is managed for people vacationing and working overseas alike.

The Rise of the Remote Work Economy

Remote work isn’t just a pandemic-era trend that faded with Zoom fatigue—it’s become a defining feature of the modern workforce. A recent survey revealed that over 39% of Gen Z and Millennials planned to live and work abroad for extended periods this year, many staying six months or more in a single location. That’s beyond a short trip, and can be considered as good as a sabbatical with a substantial lifestyle shift.

According to recent estimates, the digital nomad economy now also contributes as much as US$787 billion annually to the global economy. And this isn’t just entry-level gig work. A third of digital nomads earn between US$100,000 and US$250,000, while another third take in US$50,000 to US$100,000 annually.

It is indeed evident that the manner in which many make a living has changed. Unfortunately, most financial systems haven’t kept up.

Where Traditional Banks Are Still Falling Short

For those who have ever tried to open a bank account abroad or receive payment from a foreign client, they already know the drill: the paperwork is endless, delays are frustrating, and the fees? So much to do, even for the smallest amounts of money.

Just to name few of the hurdles remote workers still face with conventional banking:

Account setup restrictions: Need proof of residence, tax IDs, or a local job offer—things many digital nomads simply don’t have.
Slow international transfers: Payments can take days to process, which is a nightmare when rent’s due.
High foreign exchange fees: Currency conversions often come with steep, hidden costs.
Limited multi-currency support: Most banks still force users to operate in a single currency, making financial planning chaotic at best.

And perhaps most tellingly, many banks have digitized their operations but haven’t personalized their services. According to Accenture’s 2025 Banking Trends Report, while digital transformation has improved efficiency, it often sacrifices the customer experience. That’s not great news for people who live outside the lines.

Borderless Banking for Professionals Across the Globe

The concept of borderless banking goes far beyond wiring money internationally. Fundamentally, it’s also about being able to eliminate the friction between people and their money, no matter where they are in the world, and maintaining an ecosystem where geography, bureaucracy, and currency don’t stand in the way of financial freedom.

A working example of this is Black Banx, a Toronto-based fintech founded by German billionaire Michael Gastauer. Since launching globally in 2015, it has grown to serve over 78 million clients in 180+ countries as of Q1 2025, proof that people take to digital banking solutions when it is accessible, affordable, and is useful in just about any locale.

In the first three months of this year, Black Banx had also earned US$4.3 billion in revenue and US$1.6 billion in pre-tax profit, more than double from the same quarter the previous year and showing it has consistently delivered tangible value to global customers—remote professionals included

How Borderless Banking Maximizes Value for Remote Workers

1. Instant Account Access—No Strings Attached

The times of hunting down local branches or collecting endless documents just to open an account are finished. With borderless banks, users can open an account in minutes using just a photo ID—no proof of address or income required. That’s a lifesaver for anyone living outside their passport country or hopping from one location to another.

2. Multi-Currency Mastery

Managing money in multiple currencies used to mean juggling several accounts—or worse, losing money on conversions. Borderless platforms like Black Banx support 28 FIAT currencies and allow real-time currency conversions at competitive rates. That means remote workers can:

Invoice clients in one currency
Spend or save in another
Hedge against local currency fluctuations
Avoid excessive conversion fees altogether

3. Seamless, Real-Time Global Payments

Getting paid late, or paying others late, isn’t just inconvenient; it can damage relationships and disrupt your cash flow. With real-time payment support, remote workers can receive funds instantly, no matter where their clients are. This is particularly valuable for freelancers and entrepreneurs juggling multiple contracts across time zones.

Plus, bulk payment features and API integration streamline processes for those running teams or businesses.

4. Built-In Crypto Options

It isn’t surprising that many digital nomads are already deep into crypto. Whether it’s for investment, faster transactions, or avoiding traditional finance red tape, crypto is becoming essential.

Since 2016, Black Banx has allowed users to send, receive, and convert crypto (like BTC and ETH) within their accounts. That integration saves users from having to manage separate crypto wallets, and adds another layer of flexibility to their financial toolkit.

5. Secure Transactions

Remote workers often log in to work from cafés, coworking spaces, and airports, to name a few. Of course, this flexibility of being able to work almost anywhere should never come at the cost of security. Borderless banks like Black Banx use end-to-end encryption, AI fraud detection, and two-factor authentication to keep accounts safe from risky elements.

Financial Freedom, Not Just Convenience

Perhaps the most overlooked benefit of borderless banking is the freedom it provides. Not just to access money, but to fully participate in the global economy. For millions of professionals in underbanked regions like Africa, Latin America, Southeast Asia, borderless banking has become a gateway to financial inclusion and a way to take on opportunities that typically wouldn’t be available to them if not remote.

By removing barriers to entry, platforms like Black Banx empower underserved individuals to both take control of their finances and increase their earning power by working with companies from higher paying markets. This democratization of finance isn’t just good for individuals, it’s good for the global economy as a whole.

As Black Banx CEO Michael Gastauer put it: “Our multi-currency solutions enable businesses to tap into global talent without worrying about payment complexities. We make cross-border transactions as seamless as local ones.”

The Road Ahead

By 2030, the number of digital nomads worldwide is expected to soar past 60 million, according to the Forbes Technology Council. That means tens of millions of workers will be navigating foreign currencies, time zones, and financial systems—all while expecting the same seamless experience they’d get at home.

Indeed, remote professionals aren’t just looking for places to work—they’re looking for systems that work for them. In a lifestyle built on flexibility, traditional banking is proving too rigid, too slow, and too expensive.

Borderless banking services like those offered by the likes of Black Banx, on the other hand, offer exactly what today’s global workforce needs: instant access, multi-currency support, real-time payments, crypto integration, and enterprise-level security—all in a streamlined experience.