Tripp Yates, CFP®, CPA/PFS Eaglestrong Financial

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About Tripp Yates, CFP®, CPA/PFS

Tripp has extensive experience in financial planning and investment management, and he diligently uses his credentials of CPA and CFP® to benefit his clients. Over the last ten years, he has managed over $100 million in assets for individuals and families.

Tripp’s interest in investments started when he was young and was intrigued by his grandfather’s savvy investment knowledge. When he realized staying in public accounting was not his ultimate goal, he was excited to take his career in this direction.

His passion for financial planning is evident to each and every client he meets with. His desire is to help his clients organize their finances, save taxes, and invest wisely. Tripp strives to work in a humble and transparent way.

When he is not managing his firm and his clients, Tripp enjoys spending time with his family, running, and cheering on the Rebels and the Cubs.

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Recently Published

Q3: The Advance Continues

October 5, 2020

stock market economic recovery after covid-19 coronavirus 3rd quarter 2020

 

In the third quarter, the overall market and economic rebound continued. While the recovery has slowed since the late spring and summer, that is to be expected as we get further along in the cycle of coming out of the pandemic. For the 3rd quarter1, stocks advanced across the board: (+9%) US, (+5%) US small companies, (+5%) International Developed, and (+10%) Emerging Markets. The US total bond market was positive as well (+1%).  

  

world stock market performance 3rd quarter 2020

 

While the overall US stock market has recovered, the pandemic economy has created the haves and have nots across businesses and sectors. US large growth stocks, which are heavily weighted with technology companies, have risen to all-time highs (+24%) while small company stocks remain in negative territory (-9%) year-to-date1. Businesses such as airlines and restaurants are struggling while large online-based companies are thriving. This is logical given the nature of lock downs and social distancing. As we emerge from the pandemic in the coming months, we should see more convergence in the rebound across all businesses.

 

Although the pandemic has led to the closure of many businesses across the country, a recent encouraging sign is that Americans are starting new businesses at the fastest rate in more than a decade. New business applications filed by likely employers peaked in August but is still well above all years going back to 2006.

 

new business applications in 2020

 

Not all of these new businesses will survive and thrive, but the application volume increase is a positive sign, and I would expect surprises of creativity and ingenuity in some of these new business owners.

 

All-time low interest rates have likely contributed to the growth in new business applications allowing owners to borrow money at a low cost. Additionally, low rates have created an opportunity for new and existing home owners. We have seen the incredible financial benefit of refinancing a 30-year mortgage at 4% to a 15-year mortgage at 2%. Reducing the rate and term on a loan with a slight increase in the monthly payment can be huge for those who plan to stay in their home for the foreseeable future.

 

The U.S. presidential election is now less than a month away. Our president and first lady have tested positive for the coronavirus. There is no shortage of daily evolving political news. Many believe election results may not be determined for days or weeks following election day. I understand that we are seeing things in the 2020 election that we have not seen before. However, over history, the market advanced in most occasions no matter the political party in control.

 

how the stock market performs during republican and democratic presidencies
For more details on each presidency, click the picture above.

 

Whatever the outcome, people and businesses will adapt as we have seen in the past. That is why we continully underscore focusing on your long-term goals and tuning out the short-term headlines. 2020 will cetainly be an important topic for history books. As we carry on the final chapter in the last three months of this year, we look forward to continued recovery.

    

If you would like to discuss or learn more, schedule a call or meeting with me using the link below:  

Tripp Yates, CPA/PFS, CFP®

901.413.8659  gevcc@rntyrfgebat.pbz

 

Tripp’s passion for financial planning is evident to each and every client he meets with. His desire is to help his clients organize their finances, reduce taxes, and invest wisely. As a fee-only fiduciary advisor, Tripp strives to work in a humble and transparent way.

 

With extensive experience in financial planning and investment management, Tripp diligently uses his credentials of CPA and CFP® to benefit his clients. Over the last ten years, he has managed over $100 million in assets for individuals and families. In 2017, he founded Eaglestrong Financial, specializing in helping dentists and business owners. Outside of work, Tripp enjoys running, spending time with his family, and cheering on his favorite sports teams. He is an active member of Harvest Church. 


 

References

 

1       3rd quarter 2020 and year-to-date stock market returns: US – Russell 3000 Index, US small companies – Russell 2000, International Developed – MSCI World ex US, Emerging Markets – MSCI Emerging Markets, Large growth stocks – Russell 1000 Growth Index.

 

https://www.wsj.com/articles/is-it-insane-to-start-a-business-during-coronavirus-millions-of-americans-dont-think-so-11601092841

 

https://www.dimensional.com/us-en/insights/how-much-impact-does-the-president-have-on-stocks

 

Dimensional Fund Advisors 

 

 

Disclaimer

Eaglestrong Financial, LLC is a Registered Investment Advisor offering advisory services in the states of TN and MS and in other jurisdictions where exempted. The information contained herein is not intended to be used as a guide to investing or tax advice. This material presented is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. Past performance is no guarantee of future results.

 

 

#eaglestrong #eaglestrongfinancial

 

 

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Should I Refinance My Mortgage?

August 10, 2020

Should I refinance my mortgage since rates are historically low

 

The global pandemic has brought on many changes in 2020. One of those changes, historically low interest rates, has created an opportunity for current and aspiring homeowners.

 

The average 30-year fixed mortgage rate is 2.88% currently. This is the lowest rate on the chart below going back to 1971. Keep in mind that 2.88% is the average rate. Therefore, some people are getting rates lower than the average. I’ve heard of someone getting as low as 2.5%.

 

The highest 30-year fixed rate was 18.63% in October 1981. I was born in 1981, so interest rates have been coming down most of my lifetime. Looking back over the last decade, the rate was 4.49% 10 years ago, 3.91% 5 years ago, 3.89% 3 years ago, and 3.60% this time last year.

  

30 year mortgage rates

 

To understand the impact of the current rate, let’s look at the difference for a $300,000 30-year mortgage.

  • At 4%, the monthly principal and interest payment would be $1,432. The total interest paid over the life of the loan would be $215,609.

  • At 2.5%, the monthly principal and interest payment would be $1,185. The total interest paid over the life of the loan would be $126,731.

  • The savings on your payments from a 4% loan to a 2.5% loan would be $247 per month and $88,878 in interest over 30 years. That is substantial!

 

The average 15-year fixed mortgage rate is 2.44% currently. This is the lowest rate on the chart below going back to 1991. I have seen someone report getting a rate as low as 2.25%.

 

The highest 15-year fixed rate in the chart was close to 9% at the end of 1994. The average rate was 3.18% 3 years ago and 3.05% this time last year.

 

15 year mortgage rates

 

What if you chose a 15-year fixed rate mortgage for $300,000 instead of a 30-year?

  • At 2.25%, the monthly principal and interest payment would be $1,965. The total interest paid over the life of the loan would be $53,746.

  • The monthly payment would increase by $780 per month vs. a 2.5% 30-year fixed rate loan. This increase is significant. However, the overall interest paid over the term of the loan would be $53,746 which is $72,985 less vs. the 30-year.

 

The bottom line is that we are seeing all-time lows in interest rates. Therefore, it would be wise to look at your current mortgage to determine if you should refinance to lower your interest rate and/or years to payoff. Because closing costs related to refinancing your mortgage can range from 3-6%, it most likely would not make sense for someone planning to sell their home or payoff the associated mortgage in the next 5 years. Additionally, the difference in your current rate vs. the refinance rate needs to be close to 1% to make it worthwhile.

 

Strategically minimizing interest and maximizing cash flow will bode well for your financial plan now and for years to come.

 

    

If you would like to discuss or learn more, schedule a call or meeting with me using the link below:  

Tripp Yates, CPA/PFS, CFP®

901.413.8659  gevcc@rntyrfgebat.pbz

 

Tripp’s passion for financial planning is evident to each and every client he meets with. His desire is to help his clients organize their finances, reduce taxes, and invest wisely. As a fee-only fiduciary advisor, Tripp strives to work in a humble and transparent way.

 

With extensive experience in financial planning and investment management, Tripp diligently uses his credentials of CPA and CFP® to benefit his clients. Over the last ten years, he has managed over $100 million in assets for individuals and families. In 2017, he founded Eaglestrong Financial, specializing in helping dentists and business owners. Outside of work, Tripp enjoys running, spending time with his family, and cheering on his favorite sports teams. He is an active member of Harvest Church. 


 

References

 

@stlouisfed

 

https://fred.stlouisfed.org/graph/?g=tNkH&utm_source=twitter&utm_medium=SM&utm_content=stlouisfed&utm_campaign=acd4f87e-1993-42f2-a9f8-c0f4ed8d2b3b

 

https://fred.stlouisfed.org/graph/?g=sNb7&utm_source=twitter&utm_medium=SM&utm_content=stlouisfed&utm_campaign=a1a34692-0d77-42e4-848b-114915648d9e

 

https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx 

 

 

 

Disclaimer

Eaglestrong Financial, LLC is a Registered Investment Advisor offering advisory services in the states of TN and MS and in other jurisdictions where exempted. The information contained herein is not intended to be used as a guide to investing or tax advice. This material presented is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. Past performance is no guarantee of future results.

 

 

#eaglestrong #eaglestrongfinancial

 

 

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Leasing vs. Buying Real Estate for Your Dental Office

July 20, 2020

Should I lease or buy dental office?

 

I listened to the Dentistry Uncensored podcast with Dr. Howard Farran interviewing Colin Carr who is the CEO of CARR, the nation’s leading provider of commercial real estate services for healthcare tenants and buyers. Howard and Colin both make great points throughout the podcast that I believe you will find valuable now or in the future. The title of the podcast is How to Get into a Dental Office with No Money Down but the discussion covers all career stages from starting out to retirement.

 

Highlights and Discussion:

  • Colin explains that no one size fits all so you should look at all your options

  • 3 out of 4 times the real estate is worth more than the practice upon retirement for those that Colin has seen

  • Many times, after a practice is sold, the buyer leases back the building which provides an income stream for the retiring dentist

  • Interest rates are historically low right now

  • Three top mistakes dentists make with their lease renewal

  • Important information regarding an assignability clause in your lease if you plan to sell your practice in the near future

  • Exclusivity clauses if your location is in high visibility retail

  • Colin’s outlook on real estate, lending, and dentistry

  • Having cash is more important than paying off your student loans for those wanting to buy a practice

    

If you would like to discuss or learn more, schedule a call or meeting with me using the link below:  

Tripp Yates, CPA/PFS, CFP®

901.413.8659  gevcc@rntyrfgebat.pbz

 

Tripp’s passion for financial planning is evident to each and every client he meets with. His desire is to help his clients organize their finances, reduce taxes, and invest wisely. As a fee-only fiduciary advisor, Tripp strives to work in a humble and transparent way.

 

With extensive experience in financial planning and investment management, Tripp diligently uses his credentials of CPA and CFP® to benefit his clients. Over the last ten years, he has managed over $100 million in assets for individuals and families. In 2017, he founded Eaglestrong Financial, specializing in helping dentists and business owners. Outside of work, Tripp enjoys running, spending time with his family, and cheering on his favorite sports teams. He is an active member of Harvest Church. 


 

References

https://www.dentaltown.com/blog/post/14241/1408-how-to-get-into-a-dental-office-with-no-money-down-with-colin-carr-dentistry-uncensored-with-howard-farran-podcast  

 

 

 

Disclaimer

Eaglestrong Financial, LLC is a Registered Investment Advisor offering advisory services in the states of TN and MS and in other jurisdictions where exempted. The information contained herein is not intended to be used as a guide to investing or tax advice. This material presented is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. Past performance is no guarantee of future results.

 

 

#eaglestrong #eaglestrongfinancial

 

 

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Ideal Clients

  • Business Owners
  • Dentists
  • Gen X

Ways Advisor Charges

  • Monthly Fee
  • Flat Fee
  • Assets Under Management

Fee Options

  • Monthly Fee: $200+/month
  • Flat Fee: $500+ one-time packages
  • AUM: 1%

SEC Records

States Registered

  • Tennessee

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