October 2015 Newsletter Eliot•Rose Wealth Management Newsletter

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October 2015 Newsletter

Dear Client,

A number of events have stirred the market this past quarter. These include concerns about China's growth, uncertainty around interest rates, and high valuations. In our most recent video, we explain the importance of staying the course and investing for the long-term. We also discuss the impact a rise in rates might have as well as our current position in the economic cycle. You can view our most recent video by clicking here.

Also, if you have a question you would like us to answer in an upcoming video, please submit it here.


Gary S. Siperstein


In Other News

Financial Planning Association Weighs In

At a recent annual conference in Boston held by the Financial Planning Association's (FPA), Eliot Rose had the opportunity to hear from some of the best minds in the industry. Three key topics discussed were: 

  1. Social Security benefit strategies
  2. Education planning, and;
  3. Financial services for millennials

Among the many Social Security Benefit strategies that were highlighted, the most talked about was the "File and Suspend" strategy, which is very effective for couples.

"Imagine you have reached Full Retirement Age (FRA) and are intending to claim benefits at the age 70 to maximize the return," said Jason Siperstein, CFA, CFP. "If you file and suspend, and something comes up at age 68 where you need money, you can elect to receive a lump-sum for the time you delayed."

Also discussed were techniques to help with college planning and financial planning for millennials. Many are unaware that the federal government requires most colleges to have a net price calculator on their websites. This tool shows the difference between the full cost to attend a specific college minus any grants or scholarships for which students may be eligible. But, figuring out which college tuition best suits an individual is not the end of the story.

Today's millennials are burdened with the highest amounts of student debt in history and need the unbiased advice of a trusted advisor.

"They have a completely different mindset about life than previous generations," said Siperstein. "They are used to turning to the Internet for answers. They need to learn about student loan repayment strategies, how to maximize company benefits, negotiate salary packages, etc."

The FPA's Boston conference was held September 26-28. To read Jason Siperstein's extended article and to learn more about the FPA, click here.

Merits of Financial Planning

Investment, insurance, tax and estate planning can all create extreme stress, but one of the most common financial concerns is retirement planning. Financial planning for your future can be very complex. Not surprisingly, only 14% of Americans feel confident about their ability to retire comfortably.

"Trying to find a balance between spending and saving leaves many of our clients with questions," said Jason Siperstein, CFA, CFP. "We help to alleviate their concerns by following our four stages of planning."

"Our process helps clients answer the following questions," Jason explained. "How am I doing? Can I afford to send my kids to college? Can I afford to retire?

"Essentially, it crystallizes our clients' goals and helps guide them in their future plans," he added.

The impact of financial planning is truly remarkable. Over a 4-year period, statistics show a 200% increase in savings by individuals using a financial planner. 

"If you could achieve your financial goals by simply putting money in a bank, you wouldn't need a financial plan," said Jason. "Unfortunately, life is more complex and it's hard to understand the intricacies of investment, taxation, and the constantly changing rules and regulations."

With a professional staff holding both the CFP and CFA designations, Eliot Rose offers its clients financial planning services. To learn more about how Eliot Rose can help you plan for your future, please contact us.

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