Retirement Fitness Challenge – SHAPE UP YOUR FINANCES AND MAKE YOUR MONEY LAST A LIFETIME

Using a 529 to Create a Family Education Foundation

One of the questions I receive when someone starts saving for their children’s college via a 529 plan is what happens if their children do not go to college. One option is to have another family member use the funds in the 529 plan to pay for their education. If we take that into account along with the fact that there is no time limit on when the 529 funds have to be used and that the money inside the 529 grows tax-free I created the image below to show how one 529 plan can be used to create a ...

Appearance on the Nadexa Group Podcast

I made a recent appearance on Jen Selverian's, The Nadexa Group Podcast. We discussed - What it means to be a fiduciary - What an engagement with me as a financial advisor starts with - Why understanding your cash flow is important You can view the interview here ...

Have you ever wondered how efficiently you are using the money you earn? There are many different calculations you can use, but one that’s very helpful is called The Power Percentage. The Power Percentage is a formula that was created by financial planner, Peter Dunn to help determine how efficiently you are using your income and how ready you are for retirement. We’ll look at an example to see how a Power Percentage score is calculated. The first step is to determine your Gross Monthly ...

2017-02-25 20_00_46-Sample College Education Progress

Our children get report cards at school that show how they are progressing with their learning. As parents we should get a progress report that shows how well a parent is saving for their children’s college education. I started putting together an annual report that projects what percentage of college expenses you can cover based on The expected cost of college in the future How much annually is being saved to their college fund The projected annual return of the college fund To ...

A question I often get helping someone put a a financial plan together is “Do I have enough saved up to retire?” It is a valid question because for most people it’s a daunting decision to pull the trigger to stop working and live the rest of their life off of the assets they have saved up over their lifetime. The answer from me is always, “It depends.” It was recently reported that Johnny Depp spends $2 million a month. $24 million of spending in one year is a lot, however if I google ...

(By: Matthew DePompeo) Debt is something incurred by many households in America. There are many different types of debt. Some of the most common debts are credit card debts, mortgages, Student loans, and auto loans. Some other less common debts can be personal loans and medical debts. Some debt would be classified as "good debt" and some you could call "bad debt". Credit Card debt is one of the most common ways to accumulate debt and one that usually would be called "bad debt". Debts ...

While there's tons of information out there on money and taxes, it can be somewhat confusing and time-consuming to find what you need as you organize and plan your personal finances. Below is a link to a 2017 Key Financial Data reference card, which offers fingertip access to this year's numbers on Social Security, taxes, health savings, Medicare, retirement, college planning, and more. It's an easy, convenient resource that you can post to your bulletin board and refer to whenever you want ...

By: Matthew DePompeo On Wednesday December 14, the Fed chair Janet Yellen held a news conference announcing that the Federal Reserve is raising its benchmark interest rate. They raised the interest rate by 0.25%, this is only the second time that they have increased interest rates in a decade, the second of which being in December of 2015. What was the reasoning for the increase in interest rates? According to Yellen the Fed is recognizing the considerable progress the economy has made ...

Although financial pundits tend to paint a negative (sometimes catastrophic) picture of the markets to the general public, the stock market has maintained a consistently upward trend from the end of 2010 through 2016. Staying invested through short-term market peaks and valleys pays off in the long run, but a lot of people may have a hard time riding out the volatility in light of sensationalized media coverage of the markets. ...

I would like to introduce you to Matthew DePompeo. Matthew recently joined Bautis Financial as a Client Service Associate. In that role, Matthew will help guide clients through the on-boarding process, initiate and monitor account transfers, help prepare for client meetings, and maintain communication between clients and the firm. Matthew is a graduate of William Patterson University in Wayne, NJ with a B.S degree in Financial Planning. ...

Every year I send out a checklist to try to put the focus on some areas - like taxes, investments, health care, insurance, and retirement that may need attention before the end of the year. In this article I wanted to highlight an item or two from each area of the checklist and why it could be important to look at. I have curated some articles in each section that dive deeper into each topic. You can obtain a copy of the checklist here Read: 7 Questions to Ask Your CPA Before Year ...

I often talk about the importance of getting a handle on cash flow, which is the income you have coming in and where it goes. Getting a handle on your cash flow is the foundation of taking control of your finances. The image below shows how there are different things that will compete for your income each month (or pay period). Do you have structure around how your income is getting allocated and is it marching you toward your financial goals? On the left side of the image you'll see ...

By Anthony Rubinich In American History, there has surely never been an election quite like this. Between Hillary Clinton and Donald Trump, I wish I could say that the stakes weren’t high. Unfortunately, this is a very important election. The winner of the election will inherit a $19 trillion debt. Never before in the history of this country has there been such a gap between rich and poor. Not to mention depreciating race relations and the threat of radical Islamic terrorism. Don’t be ...

By Cody Laska In the age of “smart everything” from phones and watches to cars and even refrigerators, it would make sense for the financial service industry to offer a “smart” product of its own. Adding onto a design that has been around since the 1970s and conceived in 2003 is the Smart Beta ETF. Utilizing strict entrance criteria focused on mathematical calculations, the Smart Beta delivers the best of both of the traditional worlds. The original two options for investors were: the ...

El Morro Fortress, San Juan, Puerto Rico

By Anthony Rubinich On July 4th 1776, the American colonies declared independence from Great Britain. In 2016, the island territory of Puerto Rico is fighting for a different kind of independence. As the Revolutionary War was fought with bayonets and muskets, Puerto Rico’s fight for financial independence is being fought with words and money. Unfortunately, this a fight that our island neighbor is losing. On June 30th, the Senate passed a bill to help the Puerto Rico government manage ...

When you are in college and thinking about different career paths, the possibilities can seem endless. Sometimes, this endlessness can be overwhelming to think about because by choosing one path, it can feel like you're shutting out another and the opportunities it could have brought. When I was in college, I thought I would like to become a high school teacher and athletic coach. I enjoyed tutoring other students and liked playing competitive sports. These two paths seemed like they could mesh ...

By Anthony Rubinich On June 23rd, 2016, the British people voted to leave the European Union, the first time in EU history. While to the casual listener this would appear as a seemingly innocuous event, the decision has global economic and social implications. Within hours of the announcement, stock prices plummeted and international markets were sent into a frenzy. The exact story line and the events that led up to the referendum fit the description of a high-octane, political drama. The ...

businessman hand touch virtual chart business

By Anthony Rubinich The opening to the 21st Century has been wrought with one huge corporate scandal after another. From Enron to Madoff, it appears as though good faith and ethical values are hard to come by in a world of suits. However, in light of these scandals, many people have taken to a new stratagem of investing that hopes to generate both high financial returns and progressive changes. According to the Forum for Sustainable and Responsible Investing, “sustainable, responsible and ...

Over the last couple years, there has been much discussion on whether it’s smarter to rent or buy a home. For generations, owning a home was a sign of success, a trophy. That changed when the housing bubble burst in 2007, sparking the Recession. From that moment on, the façade of success and financial stability associated with owning a home was broken. As of late, renters account for 37% of American households, the highest since the 60’s. Evidence suggests that renting is a popular trend ...

As part of my internship, I was asked to write an article about how newly college grads should spend their money. While I’m only half way through college, I like to think I have matured in many ways since high school. While many people can say they had the “time of their life” in high school and college, I realize that finding success and happiness after college is just as if not more important. Moving forward, here are 6 pieces of advice I can give to my fellow colleagues and millennials: 1) ...

Take Advantage Of These “Loopholes” Before They Are Gone

If you want to know what areas you should be aiming to take advantage of with your finances look no further than the “loopholes” that are included to be closed or slashed in proposed budget deals or by presidential candidates on the campaign trail.Two of the “loopholes” we are going to look at in this…

Terror And The Markets

Over the past couple of weeks we saw terror attacks in Paris, Nigeria, Tunisia, Mali, and Lebanon. A bomb took down a Russian airliner in Egypt and Turkish fighter jets shot down a Russian bomber they claim infringed on their airspace. France and Russia are on a bombing spree in Syria. The markets typically do…

Book Review – The Value of Debt

When it comes to debt most people have a reflex aversion to it. It’s not surprising considering that most popular financial sources all claim that you should get rid of all of your debt as soon as possible. I recently read “The Value of Debt: How to Manage Both Sides of a Balance Sheet to Maximize…

Are You On Financial Track?

Do you ever wonder if you are on track financially? Sure. you can find plenty of websites out there with calculators that will say by age 30, 40, or 50 you should have various amounts saved. But is it possible to lump everyone together based on a certain age? What if you want to retire…

Find Unclaimed Money

One of the best feelings is reaching into your coat or jeans pocket and finding money you didn’t think you had. It doesn’t matter if it’s a $1 bill or a $20, it still makes it a good day. Your coat pocket is not the only place you can find money you didn’t think you…

Get Your Financial S*#t Together

At the start of the year many people make New Years resolutions to get a handle on and improve their finances. Unfortunately by now many of those people have given up on those resolutions. The main reasons for abandonment are usually not having enough time to focus on the task or feeling that it is…

Everyone can use some passive income

Passive income is looked at as the holy grail of finance and investing. When you think of it who wouldn’t want $100,000 or $1,000,000 of income coming in each year without having to spend an hour at the office. It gives you more freedom, flexibility and can help you achieve financial independence. Most people think that…

Small Business Retirement Plans

The vast majority of businesses in the U.S employ fewer than 100 workers, yet these employees have less access to things like retirement planning vehicles and other benefits than those who work for larger companies. Here’s an overview of all the major features of each kind of retirement plan, including SIMPLE, SEP, 401(k), defined-benefit, and…

2014 Last Chance Financial Planning

Take the 2014 Last Chance Financial Planning Challenge and determine if you need to take any actions before the end of the year to get your financial house in order. It’s a simple checklist that covers only those areas that need attention at year end – taxes, retirement savings, investments, insurance, and medical. It might…

Variable Annuities – Love Them or Loathe Them

Fixed income annuity contracts have gained popularity with conservative investors as a safe means of growing their money on a tax-deferred basis. In the bull markets of the ’80s, a new type of annuity contract allowed investors to participate in the debt and equity markets and enjoy the benefits of annuities at the same time….

Estate Planning Using Roth IRAs and Life Insurance

Both Roth IRAs and cash value life insurance policies offer compelling tax benefits for the right people. Life insurance and Roth IRAs have a lot in common. They are both often used as wealth transfer tools to help facilitate an efficient transfer of assets from one generation to the next. Despite their many similarities, however,…

Tax filing statuses

Your tax filing status has a major impact on what you’ll pay in taxes for the year. There are five official filing statuses, and the one you pick determines whether you can take certain tax deductions or exemptions that could lower your final tax bill. Single – This applies to never-married, unmarried and divorced taxpayers….

Changing Jobs May Impact Your Retirement

There are many things to consider when deciding whether changing your job makes sense. The obvious are whether you are getting paid more or doing something you might like better. There may also be things to take into account like location and work-life balance. One thing that few people consider is how changing your job…

Top 6 mistakes that investors make

Investing can be complicated especially if you have no experience with the basics of personal finance. Avoiding the following top 6 investing mistakes will help everyone from the new investor who is just learning to an experienced investor who needs a refresher, achieve success in the markets. Decisions made only by emotion can bring disastrous…

Peer to Peer Lending

Alternative assets are a type of investment beyond the traditional stocks, bonds, mutual funds and cash. They can include investing in things like racehorses, art, collectibles, commercial real estate, or private equity. They are gaining in popularity as investors are nervous about a stock market correction, rising interest wreaking havoc on their bonds or they…

Student Loans

Everyone has a finite amount of money that they can allocate to their financial goals. One debate that always comes up in financial circles is should I pay off more of the principal on my mortgage or invest the extra money in hopes of earning a higher return than my home interest rate. A less…

Don’t Cry For Me Argentina

Not only did Argentina lose the World Cup final in a heartbreaker this past weekend to Germany, they now must turn their attention to a problem that could potentially once again cripple their economy. In 2001, Argentina succumbed to what was at the time, the largest sovereign default in history. Public debt in Argentina as…

Should You Rent Or Buy A Home

A recurrently hot topic in personal finance is the debate over whether to buy or rent a home. The conventional wisdom has always been that everyone should strive to be a homeowner and to stop paying rent. Prices in some markets still haven’t recovered from the drops in 2008/2009 and the government is still offering…

Reverse Mortgages: Tapping Your Home for Retirement Income

The Reverse Mortgage has long been viewed as a last resort for older Americans with home equity but little cash. Regulators and financial services firms are hoping that changes and reverse mortgages become a mainstream financial strategy. You should be cautious about jumping in. First the basics: A reverse mortgage is a type of loan…

Do You Need a Digital Asset Will?

According to a report from a digital research firm eMarketer, American adults spent more than five hours each day on the Internet last year, up from four hours and 31 minutes in 2012, and three hours and 50 minutes in 2011. Social media sites occupy a large portion of that online time: Data from research…

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