Refinancing debt is not extinguishing debt. When folks tell me they “did a wise thing” and refinanced their mortgage, I seem to ask “party-pooper” type questions. Sorry. Did you take cash out when you refinanced? What did you do with the cash you took out? Did the cash go to pay off some other debt?… [Read More] Extinguishing Debt
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:
What To Be Grateful For
When I was growing up, every Thanksgiving the teachers in school and relatives at Thanksgiving dinner would ask “what are you thankful for this year?” As a kid, I really didn’t like that question because I never really had a good answer. I was more interested in the football game happening on TV, or the… [Read More] What To Be Grateful For
Your Dutch Uncle
What is a “dutch uncle?” So much of “financial planning” topics swirl around the idea of saving more money or being savvy with investing. But financial planning discussions rarely get near the elephant in the room: debt management. Or rather, the lack of debt management. One reason why folks like Dave Ramsey have become so… [Read More] Your Dutch Uncle
This Aisle for Cash
I am reading an excellent book titled “Atomic Habits” by James Clear. It is about how little habits can either build into a successful day, or drag your day down the drain. It’s interesting to see how a small change here and there (over longer periods of time) can truly add up to bigger differences.… [Read More] This Aisle for Cash
Lessons from the New York Mets
As some of you may know, we here at Mullooly Asset Management are BIG TIME Mets fans. Please don’t hold that against us. Year in and year out there is always a handful of things to complain about with the Mets. We’re constantly talking in the office here about the number of different things the… [Read More] Lessons from the New York Mets
How To Change Financial Planning Forever
We need to change financial planning forever. When I began my career, most financial planning advice swirled around tax avoidance. Planned then shifted in estate planning work. It quickly evolved into retirement planning. A great deal of work these days centers around paying for education. This should not come as shock or surprise to anyone:… [Read More] How To Change Financial Planning Forever