Do I need an estate plan – if I won’t have estate taxes to pay? There is quite a difference between estate TAXES and estate PLANS. A lot of folks think, “I’ll never have that much dough, so I don’t need to worry about that.” And there’s some truth to that. See, the threshold where Federal… [Read More] Do I Need an Estate Plan If I Won’t Have Estate Taxes in New Jersey?
Financial Planning Help with Mullooly Asset Management
At Mullooly Asset Management we want our clients to think of us as their personal CFO (Chief Finance Officer). We address many topics/questions that our clients ask us in this section. Financial planning is a very broad topic, some of the specific areas covered here include: saving for college, retirement savings vehicles, retirement planning, investor behavior, financial goal setting and much more.
Here are some of our most recent articles:
As John Mayer says in his hit song ‘Waiting on the World to Change’: “One day our generation is gonna rule the population.” He might not have been talking about my generation, or the younger generation specifically, but it still holds true for ANY generation. One day, these younger generations are going to grow up,… [Read More] Waiting on the *High Schools* to Change
In “car speak,” the term “negative equity” exists when you owe more than your car is worth. We all value our own automobiles much higher than a dealer will often take in a trade. But it’s what happens at “trade-in time” that can spell doom for your personal finances. According to Ivan Drury, Edmunds Senior… [Read More] Negative Equity, Saving Money: Create Your Own Personal Recession
Why would anybody pay someone to evaluate their financial situation and not be truthful with that person? It seems like a waste of time, money and effort. Yet, we’re all guilty of doing this exact thing! We all go to various professionals for help several times a year and don’t do what they tell us… [Read More] The Self-Fiduciary
When we begin working with new clients, we try our best to explain investing is (to some small degree) a participation sport. Clients need to be involved! And for the most part, clients get it. I’d like to believe we do a good job of explaining what’s needed and we stay in good contact. But… [Read More] Coercion versus Changing Behavior
We have a lot of clients who work for municipalities. These folks often have the ability to “retire” at massively different ages than other folks. And that’s great for them. But it’s forced us to use different “language” when talking with clients. A client (we will call Joe) is “retiring” this year at age 66.… [Read More] “Retire” versus “Drawing Down Assets”