Should politics affect your decision to include international investments in your portfolio?

A 45-second read by Anthony Benante:  For your specific portfolio, you need to evaluate your ability and willingness to take risk to help determine your personal profile. Without knowing about your entire financial situation, we would not make a specific recommendation for any asset. Typically, including globally-diversified assets in your investment strategy offers statistical benefits. We encourage you to think about the long-term nature of investing and validate your investment strategy with a comprehensive financial plan.  The plan should show outcomes based on different market environments and cycles.

Given the expectation that you could live into your 90s, it would probably not be best to look at your portfolio through a political lens.  In the short-term, breaking news is constantly occurring and it would be difficult to react correctly to each new development as it relates to your investments.  Over the long-term, there is the possibility for change in political parties and history suggests that the political party in charge in the United States has little impact on long-term market performance.  The decision to include international investments should not be directed by current political situations, but rather based on which investment strategy can help you achieve long-term success.

Reach out to our Baron team if you have any questions…

Baron Financial Group Scholarship in Its 7th Year

Duke Kwon with BFG Advisor Victor Cannillo
Alyssa Kline with BFG Advisor Nick Scheibner

Baron is pleased to award a Baron Financial Group Scholarship for the 7th consecutive year. Two deserving graduates from the Fair Lawn High School Class of 2017 were presented their awards in our principal office on Route 208 South in Fair Lawn.  Duke Kwon will study Economics and Computer Science at Rensselaer Polytechnic Institute in Troy, New York.  Duke’s future plans include developing business apps for iPhones and Androids.  Alyssa Kline will be attending Messiah College in Mechanicsburg, Pennsylvania, as an Accounting major.  Alyssa’s goal is to become a CPA.

Continuing in our commitment to education, Baron Financial Group is proud to help these deserving students further their education.

July 4th Message from Baron

AS WE CELEBRATE
OUR NATION’S INDEPENDENCE,

WE HONOR THE COURAGEOUS MEN AND WOMEN
DEDICATED TO PRESERVING OUR FREEDOM

We wish all of our clients and friends a
Happy Independence Day!

In the spirit of the holiday,
a donation has been made to

Adopt-a-Platoon  
adoptaplatoon.org

 

An Overview of myRA

A 45-second read by Victoria Cannillo: You have most likely heard of a Roth IRA or a Traditional IRA, but what about myRA? myRA was introduced in 2014 as an option for people who don’t have access to an employer-sponsored retirement savings plan or other retirement savings options. According to the myRA website, you can contribute up to $5,500/year into the account ($6,500/year for those older than 50). Once the account reaches an account balance of $15,000, or when the account is 30 years old, the savings will be transferred or rolled-over into a private-sector Roth IRA.

For 2016, the maximum income allowable to participate in the program was $132,000 for single-tax filers and $193,000 for couples filing together. Read more specifics about the program, here.

Some pros and cons of myRA to consider:

Pros:

  • No cost to open an account and no fees
  • Flexible contribution amounts (a traditional IRA has a $1,000 minimum)
  • Investments are backed by the United States Treasury
  • Tax benefits are similar to a Roth IRA, such as earning interest tax-free

Cons:

  • There is only one investment option – a treasury bond (accounts are invested solely in Government Savings Bonds)
  • Once the account balance reaches $15,000, it stops accumulating interest, so your maximum for savings is limited
  • Doesn’t seem to offer many long-term options at this time

Reach out to your Baron team if you want help in understanding what kind of IRA would be best for you.

Introducing the Baron Financial Group Team – Video

Video Transcription

Victor Cannillo: When you have good people, with the same common cause and the same purpose, which in our case is to deliver and do the right thing by clients- that is how we came together.

Nicholas Scheibner: What you can expect from the Baron Financial Group is really personalized service; when someone calls in, we know their name, we know their situation and it’s a team here.

VC: People are tired of dealing with these big brokerage firms, so they are looking for a relationship where the people work for me, and it is independent. When prospective clients come in, we say, “follow the money,” that is where the advice is going to be crafted. Ours is whatever the best solution is for the client.

Anthony Benante: We focus on constructing a plan for each client and it is a customized strategy for those clients; we educate the client as to what is going to happen with that strategy, and it is a strategy based on diversification.

Continue reading Introducing the Baron Financial Group Team – Video

College-Saving Options for Florida Residents

A 60-second read by Anthony Benante: The Florida Prepaid College Board offers several options for college savings. The two principal programs are the Prepaid College Plan and the 529 Savings Plan. Below is a brief outline of some of the key differences between these plans, as highlighted by the Florida Prepaid College Board. For more information, click here to read more.

Florida Prepaid College Plan

  • Overview: You “pre-pay” for future college tuition costs and other fees. There are several plans to choose from (1-year/ 4-year Florida University Plan, 2-year/4-year Florida College Plan, etc.). The cost you pay will be based on what the cost of tuition is projected to be the year your child would enroll in college.
  • Enrollment: You can submit your application to enroll your child at any time from birth until junior year of high school. A parent needs to be a resident of Florida for at least 1 year before enrolling.  The actual enrollment period runs from October 15th – February 28th each year.
  • Payment Options: You can pay monthly, over five years, or a lump sum.
  • What the plan covers: Tuition and other fees at a Florida College or State University (The plan can also be applied to other schools nationwide, but you should investigate actual benefits for schools outside the plan).

Continue reading College-Saving Options for Florida Residents

Baron Financial Group Attends CFA Institute Conference

Anthony Benante, CFA and Nicholas Scheibner, CFP® of Baron Financial Group recently attended the 70th CFA Institute Annual (four-day) Conference in Philadelphia, to keep updated on financial industry topics and trends. The CFA (Chartered Financial Analyst) Institute’s mission is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.

According to the CFA Institute, it’s imperative that investment professionals remain current in this changing and complex climate to best serve their clients’ interests.

Read more about the CFA Institute at cfainstitue.org.

To learn more about Baron Financial’s investment management service, visit our services pages on our website.

What is the best way to plan for your assets to remain within your bloodlines?

A 60-second read by Nicholas Scheibner:  When planning your estate, it is important to divide all of your accounts into two groups:  accounts with designated beneficiaries and accounts with no designated beneficiaries.  Examples of accounts with designated beneficiaries are 401(k)s, IRAs, transfer of death (TOD) accounts, and other retirement accounts. The designated beneficiary on an account bypasses your will.  For example, if your will states that all of your money is to pass on to your child, but your 401(k) primary beneficiary is an ex-spouse, your ex-spouse will inherit the money from your 401(k).  It is crucial that you review your beneficiaries on your accounts to make sure they agree with your desires.

Continue reading What is the best way to plan for your assets to remain within your bloodlines?

Baron Financial Group says “Thank You” to Our Clients & Friends

To thank our many clients and friends for their continued support, we hosted two client appreciation events this year: one in Sarasota, Florida and one in Hawthorne, New Jersey.

We were pleased to host, for the second year, a client appreciation event at Ed Smith Stadium in Sarasota, Florida, the spring-training home of the Baltimore Orioles.  At the Feb. 27, 2017 game, the Yankees won 4-1, a happy outcome for the many Yankee fans in attendance.  A special appearance by the Baltimore Orioles’ mascot, the Oriole Bird, added to the enjoyment of the day.

It is our custom to make a donation to a local charity whenever we host a client appreciation event.  Continuing with our tradition, a donation was made in honor of our clients and friends to the “All Faiths Food Bank” in Sarasota.

Tony Benante, Victor Cannillo and Nick Scheibner of Baron Financial Group with the Oriole Bird

Baron hosted their third annual Casino Night event on May 4, 2017, at Macaluso’s in Hawthorne, New Jersey. Attendees were given “play” money to participate in the casino games, ensuring no one could lose real money. Chips were cashed in for raffle tickets for the chance to win some great prizes, including gift baskets, and gift cards to various local restaurants and businesses. The ultimate and most coveted prize was two tickets to see Wicked on Broadway.

Although guests had an opportunity to win raffled prizes, the big winner was the “Fair Lawn Food Pantry”, who received a monetary donation from Baron to honor our clients and friends.

Baron Financial Group recognizes that there are members of the community who are not as fortunate as others, who need help to meet the most basic of needs. Baron’s purpose is to help our clients reach their financial goals and to secure a better future for them and their families. In keeping with our philosophy, the firm is committed to making the community a better place. It is our hope that together, we can look forward to a future of promise for all.

High Stability Wealth Management