“In the hierarchy of funding sources for a client, a reverse mortgage ranks towards the bottom, just above taking a premature IRA or 401(k) distribution and paying the taxes and penalties,” said Joseph Conroy, a CFP at Synergy Financial Group in Towson, Md. “It is expensive, it takes away from future options and flexibility and […]
“When building a portfolio of forever stocks, you are usually facing a decision of buying a stock for income or for growth potential,” says Joseph Conroy, financial planner with at Maryland-based Synergy Financial Group. But he also notes that cigarette company Altria(MO, $53.36) “appears it might be able to offer both.”
Tax laws have traditionally been complicated for taxpayers to understand. The recently passed Tax Cuts and Jobs Act (TCJA) has added another layer of confusion — at least for the immediate future. As tax time approaches, many taxpayers are wondering how it will affect their tax bill when they file for 2018. New law or not, it’s […]
And if you find you’re on the borderline between taking the standard deduction and itemizing, shifting some deductible expenses to the current year could make itemizing more beneficial, notes Joseph Conroy, a certified financial planner at Synergy Financial Group in Towson, Md. “For instance, making extra mortgage payments prior to the end of the year would entitle […]
“Consider drawing out trips and traveling slower,” says Joseph Conroy, a certified financial planner and financial consultant at Synergy Financial Group in Towson, Maryland. “Take more time in each city and try to live like a local.” You’ll save on food costs and might be able to reduce the price of lodging. Also, try combining […]
“Taxpayers with an outstanding home equity loan should consider paying it off since interest payments can be costly, and there may no longer be any tax benefits available to offset it,” says Joseph Conroy, a certified financial planner at Synergy Financial Group, based in Towson, Md.
Many college students fall into this category, says Joe Conroy, certified financial planner and author of “Decades & Decisions: Financial Planning at Any Age.” And if much of your income gets spent on books, tuition and a meal plan, chances are Black Friday and Cyber Monday discounts are key to your holiday shopping plans.
Adjust your withholdings. If you haven’t taken this important step yet, you should, says Joseph Conroy, a certified financial planner and financial advisor at Synergy Financial Group in Towson, Maryland. “The TCJA made sweeping changes that directly impact tax liabilities,” Conroy says. “These changes include the elimination of the personal exemption, a higher amount of […]
When clients approach financial advisors, they typically have two things on their mind. The first is saving money and the second is investing money, watching it grow along the way. It’s hard not to be excited by this. Who doesn’t want to watch their money multiply? As financial advisors, however, it’s not just about giving […]
How A Fiduciary Can Better Prepare Pre-Retirees To Avoid That “What’s Missing” Feeling In Retirement
Joseph Conroy of the Synergy Financial Group in Towson, Maryland, says, “The best way to prepare for what to do in retirement is by sitting down and taking inventory of your life. What types of activities do you like to do when you aren’t working? What are the things you would like to do that […]
Each era of adulthood requires a different approach to investing. For example, financial planning that works for adults in their 50s won’t work as well for 30-year-olds. Young people in their 20s are a completely different era than 50-year-olds or even 30-year-olds. People in their 20s are normally beginning the pathway to their financial foothold. […]
Joseph Conroy, a Certified Financial Planner at Synergy Financial Group and author of the financial planning book: Decades & Decisions joins Enterprise Radio.