Entries by Chris Overlay

The Savvy Retirement ‘Spender’

Retirement is a time one should enjoy doing what they want to do, always being aware of their spending.  Because most retirees have a set income, retirement requires a more ‘savvy’ approach to managing the way money is spent.  Some ideas to implement prior to and during your early retirement years can save you thousands […]

Tips to Using a Retirement Calculator

No matter what your age, retirement calculators can be a benefit to you in your retirement planning.  Retirement calculators are easily accessible on the internet through a search, or you may have access to various calculators through your investment custodian(s).  Here are a few tips to keep in mind as you use a retirement calculator: […]

The US Treasury myRA Plan: Is This a Good Idea?

This spring (2017), the US Treasury Department has launched additional TV ads directed at Americans that have no retirement savings plan at work. If you’ve seen the ads and you’re curious what this plan is about, read on! The myRA plan was started in the fall of 2015, but has seen low numbers in participation […]

Transferring Your ‘Unattended’ Retirement Accounts

The older you get, the greater the chances that you have ‘old’ 401(k) accounts at former employers, or multiple IRAs from retirement plan transfers from leaving multiple jobs.  While transferring the 401(k) s from multiple employers into multiple IRAs was the best way to go, leaving them ‘unattended’ makes them vulnerable to being forgotten by […]

Top 10 Tips to Investing

Investing is a process that takes time, should be thoughtfully monitored and has a better chance of success if planned out.  Regardless of what stage you’re at in your life and even if you’ve started investing, making a plan and sticking to it will benefit you.  Keep the following tips in mind as you start, […]

Spring Time = Scam Time

As spring time comes back to many parts of the US, so does many ‘seasonal’ scams.  Partly because of tax season and partly because home projects ramp up, and travel ‘springs up’, this is the time of year to be more alert regarding potential scams.  Since credit card companies and financial institutions have implemented ‘chip […]

The ‘Ins and Outs’ of 529 Savings Plans

Are you a parent or related family member thinking of starting a 529 savings plan for a child? Starting a plan to save for college or other type of technical career training is a smart choice because small amounts are contributed monthly over time. Legally known as “qualified tuition plans”, 529 plans are also called […]

Time to Play Retirement Account Catch (up)

If you’re approaching retirement in the next fifteen to twenty years, it may be time for you to focus on saving more.  Playing ‘catch up’ by contributing more can make a big difference.  It’s never too late even if the time line is getting closer.  It’s always better to try to put away more than […]

American Financial Literacy

In December 2016, FINRA (Financial Industry Regulatory Authority) released their report, “Investors in the United States 2016”. The results of the study indicated that overall, American investors felt ‘confident’ in the stock market and the economy, but many felt they didn’t have a good understanding of basic investment principals or basic financial concepts. One of the most […]

Tips to ‘Timing the Stock Market’

Now that the title of this article has grabbed your attention, is there a ‘bad’ or ‘good’ time to invest? Is there a ‘science’ to timing the stock market? Consider the following and if ‘timing the market’ is a good investment strategy for you: Tip #1 Invest- Whether you invest at the ‘top’ or ‘bottom’ of the stock […]

Self Employment and Retirement Readiness

Self-employment is a growing trend world-wide and in the US.  The desire to work for themselves, being able to designate working hours, and the perks of flexibility when they work is part of the reason many choose to be self-employed.  However, there are growing statistics that show many are forced to start their own business […]

Refinancing Debt: Is This a Good Idea?

How often have you walked into your bank and been ‘invited’ to open a new credit card, or better yet ‘refinance’ your debt?  The opportunity to ‘participate’ or receive a ‘special offer’ happens every day not only at banks, but at other places such as department stores.  We have become accustomed to accepting offers of […]

Boomers vs. Millennials: Common Financial Differences

It’s common for the previous generation to think that the younger ones are less responsible, spend more, save less, and the list goes on! In the case between the grandparents and grandchildren, or Boomers versus Millennials, the Millennials are getting it right in money management, according to Pew Research. The Millennial generation has experienced the […]

March 2017 Newsletter | Boomers vs. Millennials: Common Financial Differences

Boomers vs. Millennials: Common Financial Differences It’s common for the previous generation to think that the younger ones are less responsible, spend more, save less, and the list goes on!  In the case between the grandparents and grandchildren, or Boomers versus Millennials, the Millennials are getting it right in money management, according to Pew Research.  […]

January 2017 Newsletter

When Overconfidence Hurts There are times in our lives when being confident is a good thing. But there are situations where being overconfident can hurt, especially when it comes to investments. Psychologists have studied confidence, and how it relates to previous knowledge we have. During the study, they asked questions that would require a range […]

December Newsletter | Better Now or Better Before

Better Now or Better Before? After the elections held last month (November 2016), many Americans are reflecting on how they ‘feel’. All indications are that the last eight years has created ‘a feeling’ in most Americans regarding their financial security and the economy as a whole. To remind you of the past, let’s take a […]

September Newsletter | Does An Election Year Affect Your Portfolio

Understanding Your Employee Benefits As you work and save money for retirement, take time to understand what benefits are offered at your employer in addition to your retirement plan.  Even if the focus of your relationship with your financial advisor is your retirement and other securities related assets, employer benefits should always be discussed.  Consider […]

Retire and Spend Courageously

Retirement is a time of excitement and anxiety regarding if your savings will last through your entire remaining life.  Many retirees find that their spending is more costly in the beginning, and slows as they age.  If you are sure you’ll be cutting back as you age, you can budget for these changes.  Here is […]

June 2016 Newsletter

Mental Accounting: Help or Hindrance? Mental Accounting attempts to describe the process where people code, categorize, and evaluate economic outcomes for their money.  This term was developed by psychologist Richard Thaler in the late1980s when he discovered that people may have multiple mental accounts for various things, but all coming from the same kind of […]

What To Do With Your Inheritance

  What To Do With Your Inheritance Doing your homework and seeking advice is highly recommended when an individual or family is faced with what to do with an inheritance. Understanding your options is crucial in a potential life changing event. Inheritance Depending on the stage of life you are in when you inherit assets will have […]

May 2016 Newsletter

What Impact Does Working Have on My Social Security Benefits? There is a lot of confusion about the impact of working on those who are taking their Social Security benefits. Here are a few things to know. · If you are drawing a benefit and you are younger than your full retirement age or FRA […]

5 Common Investment Scams

Investment scams aren’t something new; unfortunately they have been around for hundreds of years.  What is new is the way that scammers try to get to you with more complex offerings.  Be aware of these common scams: Private Event with ‘Free Lunch’- These are an invitation only event, where you are invited to find out […]

April 2016 Newsletter

Reasons to Avoid 401(k) Loans Many 401(k) plans offer the option to take a loan against a portion of your 401(k) balance. This might seem like an easy source of funds to tap for various reasons, but with exception of a dire emergency you should think twice about borrowing from your 401(k) plan. Leaving your […]

March 2016 Newsletter

How to Succeed in a Failing Stock Market The start of 2016 has not been a good one for investors to say the least. Through the middle of January, the swift, sharp decline was the worst start to a new year ever. Even experienced investors and financial advisors find these market declines unsettling. As an […]