About Scott Snider, CFP®, CRPC®
Helping clients simplify the complexities of their personal finances in a meaningful way is what drives Scott and his business. Ever since he witnessed the stressful effect the dot-com market crash had on home life as a kid, Scott knew there was a place for him in the financial services industry. He was confident in his ability to help other families avoid the same financial regrets his Dad and Mom suffered. After completing his BS in Finance at Miami University in 2006, Scott hasn’t looked back and has been giving sound financial advice to clients ever since.
Scott originally started Mellen Money Management with the purpose of providing conflict-free advice, and emphasize the impact major life transitions have on household finances. However, Scott’s desire to help a group desperate for good advice compelled him to offer a service that is lacking in the financial planning industry — advice on student loans and college affordability. Our country is currently saddled with $1.4-trillion in student loans. Unfortunately, it’s an elephant in the room most of us have ignored way too long. Rather than bury his head in the sand, Scott made a conscious decision to help young professionals and families manage the cost of college. For most, the cost of a higher education is competing with other financial priorities, and juggling all those pieces is a daunting task for anyone that is unprepared. Everyday problems like saving enough for retirement, having money set aside for a rainy day, buying a house, selecting the right healthcare plan, and more.
To put this issue into perspective, the amount of money required to pay off student loans, especially for professional degrees in Medicine and Law, is often more of a burden to a young professional’s budget than their mortgage payment. When Scott realized the harsh reality his generation is facing, it dawned on him, why aren’t more financial advisors offering a comprehensive service that is the root of the problem for the modern day professional? Shouldn’t there be an expert helping families get in front of this issue with a well-thought-out plan? This is how Mellen Money Management got started. With proper guidance, student loan borrowers and parents with college-bound kids gain the assurance necessary in order to maximize their financial resources across the board.
With all of our terminology and acronyms in the world of finance, sometimes consumers can feel as if they are being spoken to in a foreign language. The confusion that results can lead to mistakes and regret, especially in the area of advisor compensation. Whether it’s fee-based, fee-only, or commission-based, the type of compensation model an advisor uses can make a huge difference in the kind of advice you receive and the type of relationship you are able to build with your advisor.
Adding a child to your family is arguably one of the most momentous milestones in life. After months of preparation, a little one arrives and stirs up overwhelming emotions and a great sense of responsibility. But even if you had everything organized and prepared to bring your baby into your life and your home, there are some practical steps that you need to take now that your family has grown. From hospital bills to education, a child can cost half a million dollars, so your financial strategy needs to change to keep up!
If there’s one thing we know for certain in life, it’s that change is inevitable. And while we recognize that we will walk through different phases and reach multiple milestones, we often don’t realize the financial impact they can have on our lives. Many aspects of life are outside of our control, but one thing you can control is how prepared you are for life’s biggest moments.