The Wealth Advocate Investment Group LLC

Our Band The Floridelics is playing March 15 at Riverside Loop in Vero Beach from 5:45 to 9:00 PM . Please bring friends come and support live music.

Girl Scout cookies here:

Order your Faves on my Digital Cookie Site Today That's right! You can order your favorite Girl Scout Cookies from me online, all while helping my troop and I do great things in our community and beyond! Check it out.

My son is looking for a career type position check out his Linkedin profile:

www.linkedin.com

"Cheers to new beginnings, fresh opportunities, and the joy of writing another chapter in the book of life! 🎉 Wishing you all a Happy New Year filled with love, laughter, and endless possibilities. Let's make 2023 unforgettable! 🌟 "

Busy Executives and Business Owners
Is your power of attorney not worth the paper it's written on?

Let’s say I didn’t have a POA...
I cross a busy street and get hit by a bus
Is my wife under a lot of stress when she gets to the hospital?
I might be in the hospital for a while,but does life continue for my wife?
She has the normal bills to pay...
But on top of all that, what other kinds of bills are starting to come in?
Just as an example, can my wife get money out of my IRA without a POA?
She could petition a court to be named my guardian
But that takes time and money
That’s why a POA is so important...it avoids the time, money, and hassle...and gives my wife access to all of the accounts and lowers her stress

In a panic situation, what's more important to YOU getting you 10%-20% returns on your money or getting ACCESS to your money?

What I see a lot of in my practice are clients with ineffective Powers of Attorney.
Schedule a complimentary strategy call with me at talktoroy.com to see if your power of attorney needs to be fixed. You can’t go wrong.

With rising interest rates annuities sales are going crazy this year especially with banking issues.
https://www.cnbc.com/2023/02/02/annuity-sales-record-2022-higher-interest-rates-stock-market-recession-fear.html

Call our office at 610-695-8748 if this concerns you.

Annuity sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates Consumers flocked to annuities marketed as being "protection-focused" as stocks and bonds faltered and annuity payouts were relatively attractive.

Don't Get Played

If you’re lucky, you find out that your online account was hacked through an email telling you that someone has reset your password.

Sometimes, you can do a quick password reset before intruders can change anything. But what happens if you don’t know your account is compromised until it is too late, and they’ve taken you to the cleaners?

In cases of online identity theft, you can often contact the authorities, the bank, and anyone else involved to report it. It’s possible to reverse any charges after an investigation, but sometimes this is not possible.

That’s why I always say the best policy for avoiding online identity theft is to flat-out prevent it.

Using strong passwords, with a different one for every site, can make all the difference. Many people use the same password for everything, and that’s just asking for trouble!

If a hacker can gain one password, they will try it on other accounts of yours. You’re basically handing them your information on a silver platter. Password managers are also a proven security measure and provide multiple layers of security for your accounts. (LastPass and 1Password are two of the best.)

Exploits and holes in online security get discovered every day, and software companies patch them up just as quickly. You should update your software frequently to take advantage of the fixes. Skipping patches is like leaving your front door unlocked for anyone to waltz in and have a field day.

This one sounds like a given, but don’t click on suspicious-looking links in emails or on sites you are not 100% sure are legitimate. Identity thieves go to great lengths to trick others into falling for their traps, but there are often clues you can look for if you’re unsure.

Online security is akin to financial security, the kind of thing we like to take seriously. Keeping your assets safe and secure will ensure that your money stays where it belongs - with you.

Want to talk to a pro about creating a specific action plan to safeguard your financial future based on where you are, and where you want to be?

Book a 15 minute consultation by phone (610-695-8748 )

Gonna need money for that avocado toast!

I kid, I kid....

Millennials are not to blame for the economic conditions affecting the world right now (and neither are avocados)!

Millennials were born between 1981 and 1996 and have significant financial challenges compared to other generations. If you fall into this group (or know someone who does), let’s look at a few things to watch out for.

A common mistake Millennials make is something called ‘lifestyle inflation’. We live in a world of excess many of us try to keep up with the Joneses for the sake of appearances.

That’s why you need to think critically when considering a purchase. Do you really need a new car? If your 2006 Toyota Corolla is still running and well-maintained, drive it into the ground! Just because your lease is up doesn’t mean you have to trade your car in.

I’d also recommend finding a budget strategy that works for you. A popular approach is the 50/30/20 rule. (TL;DR: spend 50% of your income on needs, 30% on wants, and the last 20% gets allocated to savings.) If you find sticking to a budget challenging, it might be worth reviewing where you can cut costs to make it more reasonable.

Saving for retirement might seem impossible, but it doesn’t need to be.

As a millennial, your greatest asset right now is time. Many people wait until retirement is near to get serious about their money and savings, causing all kinds of stress when they realize they can’t reasonably reach their goals or have enough to retire comfortably.

By reading this, you’re already taking steps toward a better financial future. So go ahead and eat that avocado toast. You really do deserve it – yum!

For all the unique financial planning needs facing millennials, we’re the experts. Reach out at 610-695-8748 or set up a convenient time in my online scheduler for a 15-minute financial review. talktoroy.com

Golf isn’t the only thing that has an upswing.

When the economy takes a nosedive, the markets suffer.

You’re probably wondering, ‘Is it worth it to invest in a recession? Is it worth the risks?’

It’s normal to have hesitation when the economy seems a bit shaky. Still, you can use some key strategies to be a mindful and savvy investor.

1. Be realistic. The market will have downturns. As scary as it seems, this is normal and expected. Drops in their investment values might spook newbie investors, but long-term investors know it’s part of the package. History has shown us that what goes down comes up again. This brings me to...

2. Think long term. One of the best strategies when it comes to investing is to play the long game. Successful investing takes time and patience. Your portfolio can pay off in the long run, but the key is to stick with it, bumps and all. Lastly...

3. Don’t go crazy. Impulsive investors may purchase more stocks than usual in a recession, thinking they’ll profit when the price goes up again. Be cautious, and purchase additional shares if the price is right. Don’t go into debt or risk other solid assets just to try and get a leg up.

Nobody has a crystal ball that can predict what the stock market will do, so stay the course during a market downturn.

Sometimes slow and steady really does win the race.

If you want to set up your financial game plan or have your portfolio reviewed by a professional, we can help you with that!

Call 610-695-8748 or select a time using our online scheduler for a 15-minute financial review.

You've heard the saying 'don't put all your eggs into one basket', right?

The idea is that if the worst happens, all your eggs might get broken if they're in the same place. To keep as many eggs as you can, store them in separate places.

This is the guiding principle behind investment diversification and is critical for risk reduction and loss prevention.

It's spreading your investments into different areas, like real estate, gold/precious metals, stocks, bonds, even cryptocurrency.

So what are a few key points you need to know about diversifying investments?

It's not uncommon for some investments to outperform others. For example, while many assets dipped in the pandemic, the housing market exploded upwards of 30%! That growth helped investors ease the pain of those areas that didn't do well.

A portfolio focused on a single stock option or industry can be particularly risky. Imagine if your portfolio contained nothing but Blockbuster stocks?

You may feel less stressed in a bear market knowing that just one part of your portfolio is underperforming. Knowing how you can handle the downturns and enjoy the upswings feels good, don’t you think?

Investing shouldn't be stressful!

Just like switching up your diet with many different fruits and vegetables brings you immeasurable physical health, diversifying your investments can make for a healthy financial portfolio.

I'm not a doctor, but I can help check the health of your financial goals and get you on the path to a solid financial future. Reach out at 610-695-8748 or set up a time in my online scheduler talktoroy.com for your personalized 15-minute consultation.

Tom Brady has a great retirement plan in store when he retires from football, don’t you think?

The guy’s rich enough already, and he signed a contract with Fox for $375 million last year to become their lead NFL analyst when he’s ready to join the broadcast booth in 2024!

Talk about a nest egg!

As a financial advisor, it’s my job to help my clients create and implement their retirement plans. So I have to ask, how is yours?

I like to think of it a little like running a business.

A big question that entrepreneurs need to answer is: “What will you do with the business when you decide to call it a day?”

Some decide to sell.

Some own the business and make money from it well into retirement - even until the day they die.

No matter what they decide, it requires planning well before retirement. The same is true for retiring if you don’t own a business!

It requires strategic processes and steps to make retiring not just a pipe dream, but reality.

So, my question is this: do you want to implement these systems?

If you want to learn more about how my approach can help you, let’s talk! Book a no-obligation, complimentary consultation by calling 610-695-8748 .

Spending your money responsibly is an essential part of anyone's financial strategy.

After all, every dollar saved can pay off your debts, add to your emergency fund, and build your wealth over time.

Still, it's not realistic to live like a miser! I would never advocate creating such a strict plan that you can't breathe a little. Those plans are much more likely to fall by the wayside (it's a little like dieting).

Today and tomorrow, I want to share a few ways to save money while you still get to live your life. Today, I'm starting easy with saving on the kind of shopping most people enjoy - clothing shopping!

Create a capsule wardrobe. The idea is that you have a small number of pieces in your rotation that are very high quality, and multi-purpose. A quick peek at Pinterest will open your eyes to the amazing potential here.

Get a deal. Coupons, sales, and loyalty programs can provide significant savings on clothing. Over time, the money in your pocket adds up.

New can be overrated. If you're open to used clothing, you can occasionally find high-end clothing for a steep discount at the local consignment shop. You can even swap clothing with friends. You can grab some great pieces you can't find in stores, and what's better for your wallet than free?

Small tweaks to how you approach spending on essentials like clothing can help you reach your financial goals while keeping more of your hard-earned money where it belongs: in your pocket!

Naturally, there's way more to a solid financial plan, and we'd love to talk with you about yours. Why not book a spot on my calendar at talktoroy.com, or call us at 610-695-8748 to get a no-cost consultation on how we can help you?

Have you heard of the No Spend Challenge? You have? Great! You haven’t? Let’s talk about that.

It’s simple to start - set a period of time where you commit to spending no money!

Sounds easy enough, and there are benefits beyond having extra money in your bank account.

One benefit is stepping back and viewing your spending habits. Are you impulsive? This is valuable information when trying to get a handle on your finances. Learning about your current habits will help you create better ones!

So how should you start a No Spend Challenge? A great way is to begin small with a weekend challenge. Spend on necessities as needed (gas, phone bill, healthy food for meals, your housing costs), but scrap buying new clothes, salon care, take-out meals, and online shopping (you’re thinking about Amazon right now, aren’t you?).

Try a weeklong challenge if you’re ready to take it to the next level. If you really want to go hard, try a month!

You might ask why you’d do this to yourself, and I get it.

Maybe you want to...

start finally putting money away into savings
cut spending to pay down debt
spend money in meaningful ways, like getting together to cook a healthy meal as a family
value your money, and stop being a slave to your wallet

After completing a No Spend Challenge, a great step is to speak with a financial advisor.

We can help you track your spending, review your budget, and show you where you might need to focus your attention in the long run. Let’s get started with a 15-minute consultation by calling 610-695-8748. Talktoroy.com

It’s no secret that supply chain issues are plaguing stores all around the country, causing prices of just about everything to rise. This and inflation result in consumers paying more for their favorite products.

Thankfully, there are some proactive steps you can take today to help mitigate future problems when it comes time to restock your pantry.

First and foremost, stay informed of market trends and news outlets so you can be aware of any potential supply disruptions before they happen.

Additionally, consider branching out of your usual shopping comfort zone by using different retailers and taking advantage of coupons and loyalty programs whenever possible.

While I’d never advocate hoarding, don’t be afraid to stock up on non-perishable items ahead of time - just maintain a level head.

I don’t think I need to remind you of the great toilet paper shortage of 2020 to illustrate my point on crossing that line.

Saving money throughout your daily life is just one aspect of sound financial management.

The biggest piece? Planning!

To get started with a professional financial advisor who can help create a plan just for you, call 610-695-8748 or book a spot in my calendar at talktoroy.com!

You’d expect your teen to hit you up for cash, but what about your 30-year-old son?

Even if your grown children have picked up excellent money habits from you over the years, the current economic situation and ‘modern’ life make it very difficult to hit the same milestones you did at their age.

That said, should you ‘subsidize’ the lifestyles of your adult children?

Although it’s tempting to help your children if you see they’re struggling, proceed with caution.

It’s one thing to give money for an unforeseen car repair while your child is going through college and working a part-time job. It’s another thing to pay part of their mortgage while they purchase take-out nightly, rack up credit card debt and make unnecessary cosmetic renovations to their home. Context is everything.

Remember, handing your children money won’t help them build financial skills. In fact, you might actually be unintentionally harming them!

If you help them maintain a certain standard of living, what will happen to them if you can no longer fund their lifestyle? They may run into real trouble, racking up debt to keep afloat. Teach your child to live within their means, wherever possible.

If you want to help your adult children with something specific(like getting a foothold in either home ownership or healthcare costs), set a financial timeline in stone.

In writing, offer to supplement their income for a year or two. This way, you can still assist, but they’ll understand this is temporary and need to be wise in how they use your gift.

An even better idea is getting in touch with a financial planner to discuss your needs (and their needs). A tailored plan can help you and your children navigate their financial future and set them up for success - with or without you.

I can offer advice on that! Give me a call at 610-695-8748or set up a time convenient for you in my online scheduler talktoroy.com and I’ll get you started with a 15-minute consultation.

Remote work is still very much alive into 2023, and so is working multiple jobs. After all, two sources of income can be incredibly beneficial if you want to save money.

You could use one job to pay the bills and the other for savings or stocks. Two income sources can also provide security and reliability against life's unexpected changes.

But how on earth can someone juggle multiple jobs?

It can be tough enough to manage one job, let alone two. But it is possible to make it work.

Really, the key to managing multiple remote jobs is organization. Create a system for keeping track of tasks, like folders (or email inbox labels) for each job that include relevant documents and notes. You might also consider using an online task management app like Asana or Trello to keep your tasks in one place.

When you're working multiple jobs from home, it can be easy to let work take over your entire life, so ensure that you set boundaries. Take regular breaks throughout the day, limit yourself to specific hours dedicated solely to work, and designate a physical space in your home as "the office." Boundaries will help you avoid burnout while still getting the job done.

Effective communication is also crucial to managing multiple jobs. Ensure you check in with each employer - they'll feel secure about their projects and everyone will be on the same page about expectations and deadlines. They'll also be well aware of your availability.

Since communication is often done over email or chat apps like Slack, try setting up templates for emails or messages so that you don't have to write out detailed responses whenever someone contacts you with questions or feedback.

Working two (or more!) remote jobs at once can be overwhelming, but it's possible if you keep on top of it. With two sources of income, you can potentially be a saving machine. The sky's the limit, and we can help you navigate it. Call us at 610-695-8748 or book a spot on my calendar at talktoroy.com to get started.

It’s always a good idea to have a will, regardless of your situation (financial, medical, etc.).

Without a legally binding identifier that indicates where your assets are supposed to go after you pass, you risk...

● the state claiming it
● your surviving family fight over it

Generally speaking, the beneficiary listed on your account will trump who’s listed in your will. This is true for assets like trust assets, life insurance policies, annuities, and retirement accounts.

You’ll also want to avoid putting life support decisions and funeral plans into your last will. This information may be better suited to a living will. After all, your will may not be examined until weeks after the funeral.

Planning out what you put on your will and how to go about the division of your assets can be a challenging thing to do. Protecting your money and assets is what we are best at. If you’d like a hand with your estate planning, we’re here to help. Give us a call at 610-695-8748 or book online at talktoroy.com.

When it comes to personal finance, It can be challenging to know who and what to listen to simply because there is so much information available these days.

After all, financial advice may be found everywhere, from financial blogs to entire financial plans, and financial advisors can range from insurance agents to licensed financial planners.

That’s why looking for holistic advice from a holistic financial planner is so important. Don’t take piecemeal suggestions from multiple sources that don’t know your specific goals, needs, and situation.

How’s this for a thought: when you go to a doctor for a checkup, do you want them just to examine one part of your body? No, you want them to look at your entire body, and a good doctor will do that.

But there’s more to it. What if this doctor examined you, then told you they only get paid if they gave you medications or performed surgery on you?

How much would you trust them to put your well-being and health first? Frankly, I’d run in the other direction.

Many financial advisors are paid based on commissions for the products they recommend to you.

I’m not saying these recommendations are always a bad thing. However, holistic financial advisors consider your entire financial situation and never recommend a product that does not fit your overall financial strategy. They put you before their commissions.

Ask yourself the following when considering working with an advisor:

● Are all of your goals taken into account?

● Do they examine every one of your savings and earnings?

● Do they care about your values?

● Do they propose a plan before suggesting particular products?

● Can they explain why and how it fits your overall strategy if they recommend a specific product?

Holistic financial advice includes insurance, debt and budget assessment, retirement income and tax strategy, investment (including diversification and cost) and tax analysis, and regular coaching and review.

That’s exactly what we aim for at my office. If you’d like to know more about how our approach can help you reach your financial goals and get the retirement you want, all it takes to start is a 15-minute consultation.

To book, call 610-695-8748 or goto talktoroy.com to use our online calendar.