EAGLEROCK FINANCIAL IS PLEASED TO INTRODUCE A SPECIAL PRESENTATION
“RETIREMENT STRATEGIES FOR WOMEN”
The challenges are everywhere for women in the work force. Earnings still tend to be lower overall, women are likely to live longer, and are often in the role of the caregiver. Combine all this with a cautious investment behavior and I wonder: Will it be enough?
** Learn strategies to move your retirement plan in the right direction.
** Do you know how much you’ll need to save?
** Will you need MORE income in retirement?
Stuart Steinberg of Eaglerock Financial, Inc has worked with families for more than 20 years, helping them work toward their financial goals through a holistic, well rounded approach rooted in objectivity, education, and empowerment
WHEN: Wednesday May 23 at 10:00 A.M est and Thursday May 24 at 1:00 est
TO REGISTER:
https://www4.gotomeeting.com/register/225300887 for Wednesday or
https://ww4.gotomeeting.com/join/225300887/106859108 for Thursday’s session.
Thank you very much!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. Investing in mutual funds involves risk, including possible loss of principal
Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus contains this and other important information about the investment company.
Securities and Advisory Services Offered through LPL Financial, Member FINRA/SIPC
I love golf and used to play it alot. With 3 kids and a growing business, its tough to find the time to play these days. Here are 5 ways golf is like financial planning:
1) Prepare and Plan. Good golfers approach each round with a plan. In preparation for this they look at variables – the course conditions, the weather, how they’re feeling, and how they’re hitting the ball, among others. In preparation for our meetings, I tell my clients to do the same: identify as many variables as they can. They can anticipate, for instance, sending their kids to private school. They might know about the potential of a rise or a fall in salary due to a change in job or career. Prepare for the future and make a plan. It’s what good golfers do, and it’s what good financial planners do, too.
2) Goals. Before I had three kids I had time to play golf. I regularly shot between 75 and 85. If I got on the course tomorrow, however, I don’t even think I could shoot my weight. I might be out of practice but I am still in the habit of making a goal. Before my round I’d lay out the holes in my mind and set a target score for day. It brings focus to the day and gives me something to shoot for. It should be no different when you do your finances. Think about the fairways and the greens ahead of you, so-to-speak. Set realistic goals that you can stick with. Say you want to move to a neighborhood where the houses sell for no less than $600,000. That sounds like a goal to me. Just make sure you have a plan in place that will get you there. If that plan is not realistic, modify the goal so it is attainable.
3) Resources. In golf, the touring pros keep notes on difficult holes and greens and yardages and other data. Great pros remember every shot and angle and distance and they store it all in their head and in these books. Likewise, you need information to plan your finances. Collect those magazine articles, or any good advice you find on the Internet, or advice from family and friends. It can all be taken into account when planning. And think of your financial planner as your caddie. Your caddie is someone who knows what you’re capable of. Your caddie helps you interpret the data and advises you on how to approach difficult shots. Your financial planner should be this for you, too.
4) Acceptance. There are some things you just can’t control. Golf is a capricious sport. Your best day on the course can be followed by your worst. Same with the financial markets. One day they’re up, another day they’re down. There’s only so much you can do about these things. If you want to stay in the market, you have to learn to live through these wild swings and look for ways to preserve balance in your portfolio.
5) Camaraderie, knowledge, competition, and friendship. I want all of these when I play a round of golf. I want all of these when I’m working with a client on their finances. I want to get to know my clients. I want to learn from them, teach them, help them. Golf partners strategize together and it really helps. I look for the same kind of collaboration and the same results in financial planning.
Listen to our podcast below as Win Damon and I review this topic on wnbp.com. I am live with Win on Radio 1450 AM / wnbp.com every Tuesday morning at 8:30.
EAGLEROCK FINANCIAL IS PLEASED TO INTRODUCE A SPECIAL PRESENTATION
“THE SANDWICH GENERATION – CARING FOR YOUR AGING PARENTS”
If you are one of the 20 milion + American who struggle to care for aging parents while raising a family of your own, this FREE webinar could be important to you! Join Financial Advisor Stuart Steinberg, CPA, MBA for this free webinar today!
** Learn how to talk to your parents about money and how to identify their needs.
** Find out what financial and medical information you will need, and learn how to get it.
** Know the important resources available to you.
Stuart Steinberg of Eaglerock Financial, Inc has worked with families for more than 20 years, helping them work toward their financial goals through a holistic, well rounded approach rooted in objectivity, education, and empowerment
WHEN: Wednesday May 16 at 10:00 A.M est and Thursday May 17 at 1:00 est
RSVP:
https://www4.gotomeeting.com/register/872133375 for Wednesday or
https://www4.gotomeeting.com/register/228048839 for thursday’s session
Thank you very much!
Stuart Steinberg, CPA, MBA, is proud to present the Eaglerock Financial Literacy Webinar Series.
Take the opportunity to learn from financial advisor Stuart Steinberg in a free 8-week webinar series. Each week of this exciting, engaging, and important series will focus on a select aspect of your personal finances.
The founder of Eaglerock Financial, Stu has a passion for empowering his clients by teaching them how they can improve their financial outlook. Along with a wealth of professional credentials, Stu brings the perspective of more than 20 years in the financial services industry. He has a passion for education, a sense of optimism, and a talent for creative problem-solving. To every one of his clients he brings a high level of commitment and a deep well of energy.
Join Stu for a free 8-Week Webinar Series starting Wednesday May 16 at 10 a.m. est and Thursday May 17 at 1 p.m. and continuing every Wednesday and Thursday through July 12
Week 1: The Sandwich Generation
Week 2: Retirement Strategies for Women
Week 3: How to Raise Financially Aware Kids
Week 4: It’s Always Something – From Crisis to Confidence
Week 5: Distribution Basics for Employer Sponsored Retirement Plans
Week 6: Invest for Life
Week 7: Estate Planning
Week 8: Women, Money, and Power – Take Control of Your Financial Future
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. Investing in mutual funds involves risk, including possible loss of principal
Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus contains this and other important information about the investment company.
Securities and Advisory serivces Offered through LPL Financial, Member FINRA/SIPC
5 Financial Tips for Couples Facing Divorce
According to the Forest Institute of Professional Psychology in Springfield, MO, 50% percent of first marriages, 67% of second marriages, and 74% of third marriages end in divorce.
That means people – a lot of people, unfortunately — are dicing up their money and assets in every conceivable way. Divorce often means that homes are sold, boats are sold, 401k accounts are split. There are new tax situations to understand, child custody disputes, and other legal implications that hover over the experience.
It can be much cheaper (though far more psychologically painful) to stay together than get divorced.
I once went through divorce myself, and though it was an unhappy time it has given me some insight to pass onto clients who are going through it now. Here are 5 tips for people who are planning the finances of their divorce.
1) Have a great team in place. I’m not just talking about the lawyer who’s going to “win big” for you. I’m talking about the person who can make a financial plan for you and or your children going forward. How will you pay the bills monthly? After you pay your debts, will you have enough retire? How many more years do you have to work? What about affording college for the kids? These are some of the key questions a financial advisor can help you with.
2) Get educated. The Internet is full of information, and I ask my clients to use it wisely. Before a monthly or quarterly meeting, I’ll give them some popular terms — $401k rollover, annuity, 529 college savings plan, alternative investments, and others – to research online. Our meetings are always more productive when a client takes on the homework. Getting educated in this area of your life will help you make good decisions for your family.
3) Consult a qualified tax advisor. Hire a professional who really knows his or her stuff. They can help you wade through all the many filing options. Also, it’s good to find an advisor who has a good CPA to refer you to. With all the annual tax code changes it helps to have a top notch person in this area.
4) Get organized. Many women have never had to handle the financial side of their lives. Now, amidst divorce, they must learn on the fly. Avoid getting overwhelmed by staying organized. It might be as ordinary as writing checks to pay the bills, or keeping track of debt online. You’ll thank yourself for staying on top of it all.
5) Try something new. No matter your situation, it always pays to take the high road and do the best you can. Personally, I was divorced in 1997 and learned a yoga practice that has continually grown and expanded me physically and mentally. In every disappointment in life there lies an opportunity, and in this case yoga was mine. In this difficult time, you might find something that will change your outlook forever.
Click below to hear Win Damon and I chat about financial planning and divorce on at wnbp.com and 1450 am WNBP Newburyport every Tuesday at 8:30 am
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
Stuart Steinberg is a Financial Advisor with, and Securities and Financial Planning is offered through LPL Financial. A Registered Investment Advisor, member FINRA/SIPC. You can reach him at Eaglerock Financial, Inc. 55 Pleasant Street, #206, Newburyport, MA 01950 (978) 864-9581.
It’s after dinner and the kids are in bed…and work beckons. You take out your laptop, and so does your spouse. Sitting in front of the fire, it looks like you’re playing a quiet game of Battleship. But really you’re just trying to tame the beast of work so you can settle in for the night. After a while you start to talk. The kids are doing so well in school. That feels good to both of you. But you can’t help but wonder how you’re going to do it. How the heck are you going to afford to send these kids to college?
This scenario is playing out for families across America, and it causes us an inordinate amount of stress. Fortunately, there are things we can do to minimize that stress and to maximize the return on our investment.
5 top tips to help make it happen:
1) Get organized and educated. It’s the first thing you do in any kind of financial planning. Call your advisor and get some keyword terms to research, like “529 plan” or “college savings.” Then go online and find out why they’re important. The sooner you start your research, the better. It’ll make you a more educated consumer when you sit down with your advisor.
2) Automatic Monthly Installments. I love this strategy. Figure out how much you’ll need to put away each month in order to educate your kids. Consider having it transferred automatically each month to a 529 college savings plan or a CD.
I’m not making any recommendations here. I’m simply encouraging you to save monthly and to do it consistently over time.
Learn all your options first. If your child is a sophomore in high school (or younger), I say the time to educate yourself is now. (See #4 below.)
3) There are two types of 529 plans to choose from: college savings plans and prepaid tuition plans.
College savings plans let you use funds for expenses at any college, including tuition, fees, room & board, books, and other school supplies.
The money you invest in this plan could grow over time. And as long as it’s used for post-secondary school education – for books, room & board, etc… – it’s free from federal tax. Also, for estate planning purposes, it is not considered part of your estate.
Prepaid tuition plans are not as flexible. They let you lock in tuition at a state school at today’s prices. It’s an incredible value, it’s low-risk, and guaranteed by each state. The drawback is that you limit your child’s college choices. But you might find it’s what works best for your family.
Please learn the rules, restrictions, fees, and disclosures for all these products before making any decisions.
4) Start the real college planning with a college planning specialist when your child is a sophomore in high school (Or earlier).
Hire a qualified advisor who specializes in college planning. This advisor should be able to help you sort out the process, from the first explorations you make, to the first tuition check you write, and all the way through until the last check you write your child’s senior year.
You want to really explore the numbers, and look at your current investment strategy. If you and your child have particular colleges in mind, I suggest working with an advisor who will know something about those schools. You want someone with intimate knowledge of how the whole system works.
5) Enjoy the process with your children. Go to a college football game at a cool school in a great city where you child may want to be. Tour the campuses, tour the cities or towns they’re set in, and really get a feel for the place. Have fun with your child without putting any pressure on them. This is the realization of a dream for both of you, a scenario that does not take place in many other countries. For your child, life’s learning curve is about to get steeper. At some point they’re going to turn around and thank you for the sacrifice you’ve made. They’ll thank you even more if you tell them now how much you really believe in them.
Click below to hear Win Damon and i chat about college planning on 1450 am WNBP Newburyport
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. Prior to investing in a 529 Plan investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing CD’s are FDIC Insured and offer a fixed rate of return if held to maturity.
Securities and advisory services Offered through LPL Financial, Member FINRA/SIPC
Most people think tax filing time is April 15th. The stress and anxiety caused by this date is harrowing to many taxpayers. Listen below to WNBP’s Win Damon and I review this in our brief podcast and i will explain why this does not have to be the case. Learn the rules, get educated, and make your tax filing easier and less stressful. Tune in to wnbp.com or am 1450 Newburyport every Tuesday morning at 8:30 to hear Stu and Win talk finances and other money topics!
In the more than 22 years I’ve been working in personal finance, I’ve seen my share of mistakes. Here I’ve made a list of five common errors I warn my clients not to make.
1) Budget. Every business needs one, no matter what size the business. The budget represents boundaries and assures that money will be available when you need it. I tell my clients to make a 1-year plan, and even a 3- to 5-year plan. I tell them that a budget should be respected, but it does not have to be etched in stone.
2) Competent Advice. Find a trusted advisor. A mentor. Someone you trust. Someone who knows what they’re talking about. Especially when it comes to your business and your unique business strategy. Do not trust yourself to know all the answers. None of us do. The best minds in business are the ones that stay coachable, I always say. Just choose those coaches wisely.
3) Time Management. A small business owner wears many hats. You might be head honcho, head of marketing, technology director, social media guru, and chief window cleaner. Then there’s research, design plans, and the sage advice you dole out along the way. Balance this with the demands of your personal life and tell me what it’s like to feel your head spin like a Frisbee. A weekly schedule can be the answer. It gives you structure, a game plan to reference, and this is empowering. When you are on schedule it shows others that you have integrity, and the world responds differently to the few who are self-directed.
4) File on Time. Depending on your circumstances you could be filing annually,quarterly, or monthly statements with the IRS. You might even be filing more often than that. Whatever the case, do it on time. Try never to fall behind in payments or tax returns with the government. I’m not trying to scare you. It’s just that staying off the IRS’s naughty list can save you some headaches.
5) Overdoing it. Avoid spreading yourself so thin that you can no longer provide the service that people want from you. When necessary, bring in qualified specialists to help you reach your goals. When your business starts growing, remember to step back and take into account what you need to continue that growth. Consider investing profits in personnel who can help your business grow even more.
Give yourself the best possible chance to succeed. Put these strategies in place, and feel free to ask me for others.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
Securities and advisory services offered through LPL Financial, Member FINRA/SIPC
Wealth management: Isn’t that just such a stuffy phrase?
You think of some guy at a boardroom table, on the top floor of the tallest building in the city, with his phalanx of financial planners talking stocks and bonds and, from time to time, peering over a tall stack of stock certificates to reminisce about the best investments they’ve made over the years.
Truth is, whether we’re sitting in the penthouse or in the bleachers we all need help with money. In managing your money – your wealth — we set goals and make a plan so we can work toward reaching those goals. It is how you prepare your taxes, where you invest your money, how you save for your children’s education, and mortgage planning, to name some common issues.
So you don’t need to be Richie Rich to require wealth management. What you do need, however, is to find a financial advisor who looks after your best interest. That financial advisor should be unbiased and unemotional when it comes to giving you advice. They should keep the bigger picture of your financial plan in mind, and guide you toward making it stronger, more efficient, and more effective over the long run.
Listen to Stu and Win Damon chat about Wealth Management on wnbp radio 1450 AM and wnbp.com
That’s a question I like to ask my clients when they come to meet me for the first time. It helps me to find out where the client is coming from, and what they understand about financial planning.
So what is it?
To me, it’s the art of combining my knowledge of financial planning with a client’s desire to improve their personal finances. Together we determine what the client has and what the client wants. My best clients are the most willing to learn. I can teach them about investing and planning, and all the opportunities that make sense for them.
What we make together is a blueprint for their financial life moving forward. That is the heart of financial planning.
Everyone’s financial plan is different, as so many factors go into making one. Amid an ocean of information it’s so easy to get overwhelmed. The good planner helps you understand the landscape. The good planner explains how each choice you make can affect your whole financial picture.
Consider that the average long-term investor does far better when he or she uses a qualified advisor and puts a sound plan in place. A good financial planner will help you stay disciplined and committed to the blueprint you put together.
So what is financial planning?
Financial planning is about being proactive. Asking questions. Keeping an open mind. And avoiding emotional decision making. And it’s all in service of the blueprint that gives you the best chance to get you what you want.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
Stuart Steinberg is a Financial Advisor with, and Securities and Financial Planning is offered through, LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC. You can reach him at Eaglerock Financial, Inc 55 Pleasant Street #206 Newburyport, MA 01950. (978) 864-9581 Stu@eaglerockfinancial.net
EAGLEROCK FINANCIAL IS PLEASED TO INTRODUCE A SPECIAL PRESENTATION
