Sen. Elizabeth Warren wants to make fixing the U.S. economy a priority if she becomes president, and she has a plan to do it. But long before she was running for president, Warren was a personal finance expert hoping to help the average American take control of their finances. She even co-authored two books on […]
The average American is expected to live to 79, which means that many people are living even longer. And when it comes to planning for retirement, it’s always better to be safe than sorry — which means it’s best to start making small (and large) changes now to make sure your money can last three […]
You’re Doing It Because of FOMO (Fear Of Missing Out) “I have had clients who have retired earlier than they should have because they felt they ‘deserved it,’” said Joseph Conroy, CFP, a financial consultant at Synergy Financial Group. “The problem is while they may have deserved it, they weren’t prepared for it. This can happen more […]
For people like doctors, lawyers and engineers, success takes time … and sacrifices along the way. Once you finally make it, you probably have the urge to start living large, but that could be a mistake. Professions that take a long time to develop into fruitful careers come with unique financial challenges. For example, doctors […]
You’re busy taking care of your clients’ financial needs, but are you neglecting your own financial plan? One of the biggest challenges is managing cash flow. Most financial advisors are tied in some way to the performance of the market. Generally, as the markets drop, so does the income.
The answer is: it depends. Our financial experts’ insight on whether leasing vs. buying is right for you, will help you make the best decision for you. Buying a car is very similar to buying a home. If you’re taking out a loan, the lender holds the title until the loan is paid off, and […]
RETIREMENT IS A TIME TO pursue new passions, says Lisa Odoski, vice president and partner for advisory firm TFG Wealth Management in Newtown, Pennsylvania. “It’s the second phase of your life. It’s the best one,” she says. That often means trying new activities that, depending on your interests, could get expensive. “The trick is to make sure your […]
Almost everyone I meet, after they learn I have written a book, tells me how they always wanted to write a book. A lot of financial advisors tell me that, too. But why have so few actually written books? Writing a book is a complicated process, requiring – not to pat my own back – […]
One of the toughest tasks of personal financial planning is the dirty “B” word: budgeting. Everyone needs a budget. The problem is how best to create and live within a budget without negatively impacting your day-to-day life.
“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 […]