Recently Walter Wisniewski and Allie Vanaski sat down with Cheddar on the floor of the NYSE to share their advice on what you need to know before filing your taxes this year.
On December 27, Allison Vanaski sat down with Chuck Jaffe, senior columnist for MarketWatch and host of the Podcast MoneyLife, to talk about her new book, The Millionaire Within, the importance of financial planning for all ages and stages, and balancing life and work.
Allison Vanaski will be a featured speaker at the 2019 national conference for WIFS, Women in Insurance and Financial Services. She is thrilled to speak about her experiences and share her knowledge with her colleagues in the financial advisor industry.
As an investment advisor and partner to our clients, it is our responsibility to put stock market and investment news in proper perspective. While the media is reporting daily on market fluctuations and speculating on what might happen in the short term, it is our duty to help guide you through the ‘noise’ and stay focused on what truly matters when it comes to your financial plan and your portfolio.
It is not completely outlandish to feel a sense of uneasiness about investing in our current market climate. Unprecedented growth and increased volatility leave us wondering when the next market “crash” will occur. Political and economic influences are on the forefront, as investors scratch their heads in concern with everything from trade wars and maintaining economic allies, to inflation.
The Greek witch-goddess Circe gave her son Telegonus a poisoned spear to protect him on his journey to find his father Odysseus. When Telegonus finally found Odysseus he inadvertently killed his father with the magic weapon. This is similar to some of the consequences we may inadvertently incur when we try to administer well-meaning advice to someone who is coming to us for help or guidance.
I recently had this experience with a new client who came to us to discuss the challenges she faced with her finances. She was recently widowed and under an enormous amount of stress concerning her investments because her husband had handled all the family’s money. When she entered the conference room she appeared very nervous. We tried to set her at ease by playing soft music as we usually do when meeting with all our clients. We curiously watched her open her carton of statements and documents. Many of her documents were out of order and looked as if they had been filed haphazardly inside a wastepaper basket! Even before she spoke, her eyes reflected a plethora of misfit investment information, peppered with the sad assurances that her husband had instilled in her before he had suddenly passed away.
All we have to do to create the future is to change the nature of our conversations, to go from blame to ownership, and from bargaining to commitment, and from problem-solving to possibility.
Peter Block, American Author
Remember the days when you were young and saved your money to buy something you really wanted? When you brought it home it was yours. You could repair it if it broke. The inner parts were relatively easy to understand. After you used it for a while it did not become obsolete; you could sell it to one of your friends, so he could enjoy it too.
Times have changed. Our cell phones now contain software that is not ours and we sign a licensing agreement to use it. We may own the shell of the phone, but we rent the technology. We don’t even wait for the phone to become obsolete. Many consumers crave the technology so much, they line up in droves for the next new upgrade.
As Hurricane Season ramps up and with Sandy only a few years down in the history books, it is important to consider what plans you and your family have in place in the event of a natural disaster. Disasters rarely give us a heads up. The best we can do in the face of disaster is have a plan and build a Financial Emergency Kit. Having these essential items safe, secure, and at the ready, in case the unthinkable occurs will save a lot of headache and heartache. There are various websites, including Homeland Security’s government webpage and the Red Cross, which can help. In this article we will go over some of the basic essentials everyone should have stored safely in case of emergency, specifically relating to your finances.
If you are a high-income earning professional, you may need to take additional steps to ensure you are saving enough for retirement. Many investors find that maximizing their company retirement plans may not be enough. You want to make sure you are saving enough in your income-earning years to maintain a similar lifestyle in retirement. Here are some tips to get you there:
Use your HSA as a savings vehicle
Health Savings Accounts are what we call triple tax free. This means that contributions made into HSAs are not just tax deductible, but the earnings are tax-deferred and the withdrawals are tax-free as long as they are used for qualified medical expenses the scope of which is very broad.
“There's no scarcity of opportunity to make a living at what you love. There is only a scarcity of resolve to make it happen.”
—Wayne Dyer, author and new-age thinker
This past year we (Walter and I) wrote a book, “The Millionaire Within”. We are proud to announce that it has been published and that it is available for sale on Amazon! We chose to write it in order to share our experiences working with clients to help them change their perceptions about money. People often seek financial consultation to gain insight into “new” investing strategies or promising stock trends for the coming year. What we know is that trying to predict an unpredictable market is as futile as spending your last dollar in the hopes that more will come out of thin air.
One nice day in early summer, Walter and Allie sat down with journalist Susan Corey Dempsey of the Shelter Island Reporter to talk about life, business and their book The Millionaire Within.
The father-daughter financial counseling team of Walter Wisniewski and Allison Vanaski have learned a lot over their years working together. In their new book, “The Millionaire Within,” they share many strategies for handling money, but in an interview with the Reporter, they said they’ve also learned quite a bit themselves from dealing with clients.
“Financial decision making,” said Walter Wisniewski, “is much more about emotions and behavior than about money. It’s about your lifestyle. Money is life.”
To read the full article click here.
Recently Walter Wisniewski and Allie Vanaski sat down with Cheddar on the floor of the NYSE to discuss the impact of emotions on investing and how getting a handle on those emotions can lead you closer to the Millionaire Within you.
In a recent article, How To Keep Your Financial Resolutions In The New Year, published on New Year's Eve by Megan Gorman, Walter Wisniewski contributed to the conversation, “The secret to staying grateful is to stay in the present moment and appreciate everything we have and can control. Focusing on what we can control helps us feel safe and connected.”
In a recent article, Best IRA Account Providers, published in U.S. News and World Report on December 13, 2018, by Maryalene LaPonsie, Walter Wisniewski contributed his expertise to the discussion.
In a recent article, Money lessons from the ups and downs of 2018, Walter contributed his advice regarding estate planning and other retirement planning topics. Published onPublished on December 2, 2018, By Sheryl Nance-Nash.
Bulls and Bears
Many experts consider investing in the stock market the best way to grow wealth, especially if you are young and have a long investment time horizon. However, it can be difficult to avoid much of the daily market “noise,” and you may start to question your financial decisions. Such seemingly extreme volatility can have even the most steadfast investor feeling a little unsure on occasion. The deluge of unprecedented news and the responding economy may leave investors questioning how best to proceed. Better to hunker down and ride it out? Sell? Invest in more conservative products?