Quoted: Member Media Roundup - March 2022

5 min read
March 14, 2022

XY Planning Network members regularly serve as subject matter experts for major media outlets—impressive, we know. (We help make connections by inviting our journalist friends to submit requests for XYPN members' expert input using our media portal.) We've compiled this roundup of recent articles featuring some superstar XYPN member advisors.

How These People Retired by Age 50

GO!BankingRates, featuring XYPN member Eric Roberge

When Greg Wilson was barely out of high school and at an age when most don’t have the future figured out, he knew one thing. He wanted financial security down the road.

His next step? Investing in rental properties. That decision, combined with smart money management made during his career at a major financial services firm, allowed him to retire early last November. Very early.

“I was able to retire at age 42 because of decisions I made in my late teens that I stuck with,” said Wilson, who lives in St. Louis. “I bought several rental houses in my early 20s with the goal of having enough in taxable accounts to last me from age 40-something to 60. Concurrently, I put as much in my 401(k) as I could to last me from age 60 until death.”

Wilson offers evidence that you don’t need to work until age 62 or 65 or 67 if you make good decisions along the way. Retiring by age 50 without wondering how to fund the second half of your life? Not an impossible dream, but it takes dedication and a plan, financial experts said.

Continue Reading  

Financial advisors share 4 habits that their most successful clients have that helped them build wealth

Business Insider, featuring XYPN member Brian Berkenhoff

I'm fascinated with how millionaires and billionaires continue to grow their net worth. That's why I started off this year with the goal of sharply increasing my savings on a monthly basis and quitting my habit of overspending. 

As I reflect on this year, I was curious to hear the successful strategies others used to build their wealth. That's why I asked four financial advisors for a recap of what their clients did in 2021 to increase their net worth.

Continue Reading

7 Ways to Live a Little in Retirement

AARP, featuring XYPN member Danielle Harrison

For decades, through career and family ups and downs, you have relentlessly saved and invested for retirement. Yet, you dread the thought of running out of money. Many people do.

A recent study by Zety of more than 800 individuals showed that 47 percent feared retirement more than illness and poor health, and 40 percent more than death. Some concern is warranted. A study by the Boston College Center for Retirement Research’s National Retirement Risk Index (NRRI), conducted before the COVID-19 pandemic, indicated that 50 percent of households may lack the funds to continue their standard of living once work stops. That number is now 55 percent.

But let's say the numbers in your portfolio show that things are good. Now that you are retired, or are nearing that point, it’s time to start spending a little to enjoy life more. It’s time to create a list of things you have dreamed of doing.

Continue reading

Financial Planning for Small Businesses in Tech: Advice From Experts

TechBullion, featuring XYPN member Christopher Russell

Financial planning is an essential step to take if you want your small business to be successful and increase your net worth. Even if you feel like you’re doing everything right, there are still some steps that only a seasoned professional will know about. 

More than half of the United States’ workforce is now employed by small businesses, yet many people overlook their financial needs. To succeed, every business needs to be able to borrow money. We need to pay insurance for every business asset like goods, office premises as for House and Car insurance. It will make you more financially stable in case of any unwanted happenings.  It also needs to understand how important it is to save for retirement and other expenses.  With these factors in mind, here are some ways for you to start planning your financial future today. The basic financial planning formula is that “Cut your coat according to your cloth, i. e. your expenses must be under your budget. Following are some basic steps which every business should follow while making the financial plan –

  • Step 1 – Make the estimate of incoming revenue
  • Step 2 – Set up a Budget for the expenses
  • Step 3 – Get the Insurance of every possible business risk
  • Step 4 – Save the money for the future needs

So that is the basic financial planning, now let us see what our experts tell us about.

Continue reading

Financial planning is different for members of the military. Here's what you need to know

CNN Business, featuring XYPN member Arnie Cabiles

If you're in the US military, there are many potential financial benefits available to you and your family -- even if you serve for just four years.

For instance, there's some tax-free compensation, generous educational benefits, zero-to-low-cost health care, housing allowances and a host of free services on base.

But your financial life is also likely to be upended a few times due to multiple deployments, relocations to other bases, and your transition back to civilian life when you leave the military, or even just transition into the Reserves or National Guard.

That's why certified financial planners who counsel military and veteran families suggest you anticipate and plan for what's coming down the pike so you can minimize financial disruptions and still build savings over time.

Continue reading

Millennial Money: A financial checklist to quit your job

Yahoo!News/NerdWallet, featuring XYPN member Eric Roberge

Burnt out? Over it? Ready for a change?

Millions of people are quitting their jobs each month in what many have dubbed the “Great Resignation.”

Before you join the mass employment exodus, do a thorough scan of your financial situation.

That means, of course, taking a hard look at your spending habits and any savings you’ve accumulated — you need at least a little cover to get you from one job to the next.

It also means taking inventory of everything your employer currently subsidizes. Things like health care, retirement savings, commuter benefits and stock options, which you may surrender when you exit.

“People know they’re walking away from a paycheck,” says Eric Roberge, a certified financial planner and founder of Beyond Your Hammock, a financial planning firm in Boston. “But they often forget to consider their benefits packages.”

Use this financial checklist to make sure you don’t leave any money on the table when you leave your job.

Continue reading

3 reasons why young people should stop using debit cards

CNBC, featuring XYPN member Danielle Harrison

People rely on debit cards to cover their purchases for all sorts of reasons.

Consumers might feel more comfortable using a debit card, knowing they have the funds to pay for something since the money comes directly from their checking account. Perhaps debit cardholders prefer carrying cash or fear going into debt if they used a credit card instead.

While spending with a debit card may not seem like a problem now, it’s not helping the future financial you because they won’t help you build a credit score like credit cards can. With a good credit score, you have greater approval odds for the top credit cards and can score lower interest rates on loans. Not to mention, most credit cards offer rewards like points, miles and cash back on your purchases.

Below, Danielle Harrison, a Missouri-based CFP at Harrison Financial Planning, weighs in further on why young people should stop using debit and opt for a credit card instead.

Continue reading

6 Money Moves That Couples Should Make in 2022

MoneyTalksNews, featuring XYPN member Eric Roberge

Couples do so much together — make a home, have a family. It’s time that they get their finances in sync as well.

Taking time to discuss and evaluate finances can go a long way toward eliminating fights about money and keeping financial goals on track.

Following are several smart financial moves for couples to make this Valentine’s Day — or any other day of the year.

Continue reading

XY Planning Network's media request program is available to all XYPN advisors as a member benefit. Interested in joining our community of legendary expert advisors? Check out our Member Benefits Directory for the full scoop on how sweet it is to be a member.

Subscribe by email