As a Financial Analyst Intern, Anthony engages in investment research and portfolio modeling to aide and support portfolio management decisions made by Brien and Sarah for the TWA clients. His primary scope of analysis is ensuring that investments our clients hold are optimal given their risk level through diligent quantitative and qualitative research and assigning them buy, sell, and hold ratings. Anthony is especially interested in observing and evaluating macro-economic factors and projecting performance in the long-term through valuation research and technical analysis.
Anthony is entering his senior year at Texas A&M University in the Petroleum Ventures Program and will receive his Bachelors of Business Administration in Finance with Minors in Economics and Computer Science. Upon graduation, Anthony aspires to become a financial analyst for an investment bank.
Outside of school and work, Anthony is an active member of Kappa Alpha Order fraternity and is on the executive committee of the Petroleum Ventures Program. He enjoys spending his time outdoors with friends, going to Texas A&M athletic events, and playing tennis and golf.
With many summer vacations canceled due to COVID-19, you may find you have some spare time at home. This is the perfect time to do a financial goal checkup. It can help ease your mind reviewing your finances, retirement goals, savings for children’s education, or a house investment. Here are some tips for your midyear review:
1. Goals: Make sure you are saving enough for retirement or could you increase your paycheck deduction? Have you checked college tuition fees lately to calculate if you are saving enough? Interested in saving for a new house? Make sure and check the latest real estate market. Are your beneficiaries up-to-date? It is important to update these goals for 2020.
2. Taxes: Make sure you are benefiting from a tax break. For example, are you on a high deductible health plan and contributing to a health savings account? Are you contributing to your company’s 401K enough that your employer is matching the amount or should you increase your contribution? Have you revisited your decision about whether to make Traditional or Roth contributions to your IRA and company retirement plan? If you received a big tax refund or wrote a sizable check for taxes due with your 2019 return, or experienced any life changes, you should evaluate whether you’re having too much or too little in taxes withheld from your pay.
3. Insurance: Evaluate your insurance needs annually to make sure you have the right amount and type of insurance for unforseen circumstances that might arise. A good place to start is life insurance. Life insurance is used to replace income. If you have a growing family you might want to increase your life insurance. If you are getting older with less years of income, then you might want to decrease life insurance and use that money towards retiree health care savings. Checking out disability insurance in case anything prevents you from earning a paycheck is also a good idea.
4. Estate planning: Review this important paperwork to make sure you are covered legally in a will, health care proxy, and power of attorney. Marriage, divorce, birth, and death are 4 big events that can affect estate plans.
While a mid-year financial checkup might not be a beach vacation, it is well worth the effort to make sure your finances are organized and will put your mind at peace. Plus it is not too early to start dreaming of those 2021 vacations!
If you have any questions while you are evaluating your midyear review, please don't hesitate to reach out to TWA at 979-694-9100 or Brien@TraditionsWealthAdvisors.com
Source: “Mid-Year $ CheckUp: 5 Things to Review Now.” Fidelity Viewpoints, 14 July 2020, https://www.fidelity.com/viewpoints/personal-finance/midyear-checkup?ccsource=email_weekly
One of the first steps in getting your financials in order is hiring a financial advisor. They can help you plan and get organized during your working years so that you have plenty of years in retirement too.
How do you pick a financial advisor?
A financial advisor who has worked hard to earn a Certified Financial Planner (CFP®) designation exhibits experience and quality. They will ask the tough questions in pursuit of meeting your financial goals. They have the experience of wealth management that many of us lack. Depending on a financial advisor’s expertise and experience is key in letting them do the hard work for you.
When first meeting with a financial advisor, a good relationship begins with them interviewing you as much as you are interviewing them. A financial advisor wants to make sure you are on the same page as them in meeting your financial goals.
Further, financial advisors can help put you in a good taxable income situation. Let them use their expertise to make sure you have less tax exposure. In the end, make sure your financial future is in your hands and that your choices feel comfortable for your unique situation.
What does a financial advisor do?
Financial Planning organizes your cash flow, investing, and savings. Financial advisors will help you plan for these needs and find the best investment approach to meet your individual situation.
Estate Planning is not easy to think about what will happen to your assets when you are gone. However difficult it may be, it is important to make sure you have clear beneficiaries and everything is in order for when that time comes.
Retirement Planning is important to plan for the years you will no longer have a monthly paycheck. How will you pay your expenses? Finding a financial advisor with a retirement focus is critical so that you can trust them as you plan for your future.
In the end, hopefully you find value in finding a dependable financial advisor that you can trust to meet your financial goals. If you have any further questions as to why you need a financial advisor or to begin your individualized financial plan, please call 979-694-9100 or e-mail Brien@TraditionsWealthAdvisors.com
Source: Lewis, Allen. “Why do I need a financial advisor?” Wimple, 27 May 2020, https://www.wimple.com/article/when-advisors-make-sense.html
As a Financial Analyst Intern, Brian engages in investment research and portfolio modeling to aide and support portfolio management decisions made by Brien and Sarah for the TWA clients. His primary scope of analysis is ensuring that investments our clients hold are optimal given their risk level through diligent quantitative and qualitative research and assigning them buy, sell, and hold ratings. Brian is especially interested in observing and evaluating short-term price fluctuations resulting from the changing economic climate and projecting performance in the long-term through valuation research and technical analysis.
Brian is entering his senior year at Texas A&M University in the Professional Public Accountant Program and will receive his Bachelors of Business Administration in Accounting and will then begin his graduate year pursuing his Masters of Financial Management. Upon graduation, Brian aspires to become a financial analyst for mergers and acquisitions at an investment bank and eventually start his own financial management company.
Outside of his studies and work at TWA, Brian is an active member of Gents Men’s Society of Texas A&M and is a peer leader for Freshman Business Initiative. He enjoys spending his time playing contemporary and classical piano, tennis to stay active, and getting outside. Brian is regularly spending time with friends and family and watching the latest good movie.