Oct-Nov Newsletter

Oct-Nov Newsletter

Join us in congratulating Tatiana Vinogradov for receiving her Certified Financial Planner (CFP®) designation. Through hard work and determination, Tatiana endured a rigorous coursework and examination process to receive her credentials. The CFP® designation is awarded to individuals who successfully complete the CFP® Board’s initial and ongoing certification requirements which includes extensive knowledge in the areas of financial planning, taxes, insurance, estate planning and retirement. Congratulations Tatiana on this wonderful achievement!

Tatiana”s achievement makes her the 10th CFP® Professional & 4th female Certified Financial Planner® professional on STRATWEALTH‘s team.

Susan G. Komen Maryland Race for the Cure

Dear Friends, Family and Valued Clients,

Strat Wea ltH is excited to be participating in the 2019 Susan G. Komen Maryland Race again this year! The Race for the Cure Columbia will be held at Columbia Gateway Office Park. We are coming together to raise funds to fight breast cancer and celebrate the success of fundraising.

How does your participation make a difference? In the last 32 years, survival rates for early-stage breast cancers have climbed from 74 percent to nearly 99 percent in the U.S. In the last two decades, mortality from breast cancer has declined by 34 percent. But it’s not enough. In fact, we think it’s unacceptable! So, with less than a month to go, it’s time to take action! Every dollar counts. Join us on October 13th and walk, race, volunteer or make a donation. What a difference we can make by working together!

To join Team STRATWEALTH or to make a donation, go to our team page at https://maryland.info-komen.org/goto/StratWealth2019.

Please feel free to contact me at 410-988-9494 for more information.

Sincerely yours,
Amanda N. Campbell, CFP®, CDFA™, AAMS®, AIF®
Senior Advisor

Women in the Financial Workplace

According to statistics, women make up 31% of financial advisors in the US while only 23% of those women hold a CFP designation. While men outnumber women as financial advisors, women outnumber men in the overall workforce. STRATWEALTH has nine advisors who all hold their CFP designation and four of those are women making our firm higher than the statistics.

As millennials begin entering the workplace, women are dominating the financial workforce. According to research, women makeup roughly two thirds of the workplace acting as support staff. While women dominate in the supporting role, men dominate the leadership/supervisory role. It’s encouraged for young women to take risks at an early stage in their careers to build groundwork for future leadership roles. While STRATWEALTH does have more women than men in support staff roles, we do have a good number of men that work alongside of us.

STRATWEALTH takes an active role in their employees professional and personal growth by enrolling all associates into a Leadership Development Program upon employment. We strive to make sure that our associates are happy in the role they are in. If you notice that an associate is no longer in the seat when you walk in or is not your point of contact, that may mean they’ve found an interest in another department.

STRATWEALTH Supports The Providence Center

This year, Strat Wea ltH is excited to be in support of a fantastic organization known as The Providence Center, which aids the lives of more than 400 adults with intellectual and developmental disabilities through job placement and other support initiatives. Each year The Providence Center wows supporters of their organization with their annual Harvest Bash  (Saturday, October 12th, 2019), an evening of live music, seasonal libations,  auctions, raffles and more – all for the vital support of their fantastic cause. We welcome anyone interested to learn more about The Providence Center and support opportunities that take place throughout the year. For information or to donate, please email: specialevents@providencecenter.com or call 410-766-2212 x 102.

Planning Considerations for Welcoming a New Baby

Starting a family is an exciting time for any couple and if you are anything like my husband and I, once the initial exuberance wore away, the “Holy cow, we have a lot to do” feeling settled in. The good news is that you now  have nine months to get organized, make a plan, and execute that plan. I’m not promising that it’ll be easy but my hope for you is that this list of  financial planning related considerations will help guide you.

Understanding Your Cash Flow: There is no better time than right now to  start a list of your monthly fixed expenses and to start a budget for  discretionary items like entertainment or eating out. Once you have a clear picture of your current situation, consider the new expenses you might have once baby arrives – increased health insurance premiums, daycare, diapers, formula, or the cost of an occasional babysitter just to name a few. If you haven’t already discussed it with your partner, now is also the time to determine how your careers may be impacted by the addition to your family – will you both continue working? Similarly, you’ll also want to be ware of your job’s maternity and paternity leave and plan accordingly for potential lulls in your household income.

Life Insurance: Your need for life insurance might have been addressed prior to this turning point but consider readdressing the coverage your loved ones would need in the event of your untimely passing. You’ll want to make sure that your loved ones are able to survive financially if something were to happen to you. When considering your life insurance need, you may want to keep in mind large cost that your family will incur during your child’s life like college or a vehicle.

Health Insurance: Many young, soon-to be parents may miss this one –  who’s life insurance will your child be covered under and how much will it cost? Assuming both parents are working and are covered by their mployer’s plan, asking your HR department for coverage information and the cost of adding a dependent to your plan is a good start. Keep in mind that contribution limits increase for Health Savings Accounts if you have dependents! A more immediate health insurance consideration is determining how much the prenatal visits, tests, and actual birth will cost out of pocket – be sure to fit this into your cash flow plan from above!

College Savings: We are all aware that college cost can make a huge impact on you and your child’s financial health. Start by having a conversation with your partner about how much you want to assist your child with college cost, if at all. Although they may not thank you for many years, saving each month to a 529 plan or custodial account for college will be extremely beneficial to your new baby. STRATWEALTH can help you determine which account is best and how much you should be saving. Many parents may be surprised to learn that it is often necessary to start saving from birth to meet your funding goals.

Estate Planning: Now that you are expecting, you’re going to want there to be a plan in place if you and/or your partner become ill or even worse, pass away while your child is a minor. Seeking the guidance from an estate lanning attorney is the best way to make sure that your wishes are met regarding your child’s care, both physically and financially. Once your child is born, you’ll also want to evaluate the primary and contingent beneficiaries you’ve chosen on your financial affairs – such as 401ks, IRAs, bank accounts, investments, HSA’s, and life insurance policies. Once you’ve developed a plan, be sure to store any documents along with detailed instructions in a safe place and inform a trusted person where it is located.

Now you’re probably thinking, “Wow, it’s a good thing I have nine months for all your of this!” But don’t forget that you’re not alone and that your STRATWEALTH advisor is ready to help every step of the way (maybe not the diaper changing part!). For all of you out there who are welcoming a child into your world, congratulations from your STRATWEALTH family!


Important Disclosure Information

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Strategic Wealth Management Group, LLC (“StratWealth”), or any non-investment  related content, made reference to directly or indirectly in this commentary will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this commentary serves as the receipt of, or as a substitute for, personalized investment advice from StratWealth. Please remember to contact StratWealth, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. StratWealth is neither a law firm nor a certified public accounting firm and no portion of the commentary content should be construed as legal or ccounting advice. A copy of the StratWealth’s current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request.