A financial plan isn’t just about investments. It’s a living, breathing document designed to evolve with both market shifts and life changes. If you’re relying solely on investment advice without a broader financial plan, you’re missing a critical layer of protection and peace of mind.

Enduring Market Volatility

How a Financial Plan Helps You Stay on Track

Here are five key ways a financial plan can help you weather market volatility:

1. Provides Perspective: When markets drop, a plan gives you something to focus on beyond the headlines—your long-term goals.
2. Builds in Flexibility: Life happens—new jobs, family changes, even those unexpected “hot stock tips.” A dynamic plan adjusts as your life evolves.
3. Reduces Emotional Reactions: Market ups and downs trigger fear and impulse. A plan, built with your advisor, keeps you grounded and objective.
4. Accounts for Uncertainty: While no one can predict a steady 10% return, a smart plan prepares for different market outcomes, so you’re not caught off guard.
5. Creates Confidence: Ultimately, a well-designed financial plan gives you the security to move forward—through good markets and bad.

If you already have a financial plan, stick with it and update it regularly to reflect your changing goals. If you don’t have one, now is the time to build a plan that gives you clarity and confidence no matter what the markets do next.

At Crescent Wealth Partners, we specialize in building personalized financial plans that give you clarity, direction, and resilience—no matter what the market throws your way. If you’re ready to move beyond reacting to market swings and start making proactive decisions for your financial future, let’s talk. Schedule a consultation with our team today and discover the confidence that comes from having a plan designed just for you.

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For further information, see the full article here:
How a Financial Plan Helps You Endure Market Volatility

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Retirement Planning for Millennials

A 2018 TD Ameritrade survey found that 70% of Millennials prioritize saving, whether for an emergency fund or a vacation. Yet, despite these promising habits, many are not saving enough for retirement. In fact, 80% of Millennials doubt Social Security will be available when they retire, underscoring the need for personal retirement accounts, such as 401(k)s and IRAs. A Roth IRA, for instance, offers tax-free withdrawals, an option worth considering for long-term growth.

The Bank of America Better Money Habits Millennial Report reveals that while over half of Millennials budget, many hesitate to invest in the stock market due to fear of volatility. But here’s where Millennials have an advantage—time. By starting to invest early, Millennials can weather market fluctuations, giving them more time to recover from downturns and benefit from compound growth.

Retirement needs Vary

It’s also important to note that retirement needs vary. While young professionals estimate they will need $400,000 in savings, nearly half admit to guessing their retirement needs. Creating a tailored, written strategy, ideally with the guidance of a financial advisor, can provide clarity. By assessing your goals, lifestyle expectations, and potential expenses, you can take control of your retirement future.

At Crescent Wealth Partners, we help clients craft personalized strategies, ensuring they’re equipped for a financially secure retirement—no matter their stage of life.

Call Crescent Wealth Partners today at 941.923.3663 or visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors, who are ready to support your financial goals.

Follow us on social media:

Facebook – https://www.facebook.com/Crescentwealthpartners

LinkedIn – https://www.linkedin.com/company/crescent-wealth-partners/mycompany/

Brian Grogan LinkedIn – https://www.linkedin.com/in/briangrogancrpc/

Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

Source: TD Ameritrade Millennials and Money Survey (2018), Bank of America Better Money Habits Millennial Report (2018), Transamerica Retirement Survey of Workers (2019), Retirement Strategies
for Millennials

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Work-Life Harmony—A healthy work-life balance is crucial for overall well-being. It can help reduce stress, prevent burnout, and strengthen relationships with loved ones. Did you know that a whopping 72% of employees say a good work-life balance is very important to them, according to Gitnux?

However, achieving this balance can be challenging. Work responsibilities can often bleed into personal time, leading to feeling overwhelmed.

This blog will explore strategies to help you create a more balanced life, allowing you to thrive in both your career and personal life.

The Toll of Work-Life Imbalance

When work consistently outweighs personal life, it can significantly impact your health and happiness. According to the American Psychological Association [APA work stress statistics], chronic work stress can lead to:

• Increased risk of heart disease, stroke, and diabetes
• Anxiety and depression
• Weakened immune system
• Relationship problems

Creating a Life You Love: Beyond the 9-5

The good news is that achieving work-life balance is within reach. It’s about creating a life that is fulfilling in all aspects, not just your career. Here’s how to shift your perspective:

• Values First: Identify your core values – what truly matters to you? Is it spending quality time with family, pursuing hobbies, or giving back to your community? Once you know your values, you can make decisions that align with them.
• Prioritize ruthlessly: Not all tasks are created equal. Learn to differentiate between essential and non-essential activities. Delegate, automate or eliminate non-essential tasks to free up time for what matters most.
• Embrace “No”: Setting boundaries is crucial. Don’t be afraid to say no to extra work or commitments that would disrupt your balance.
• Reclaim Your Time: Be mindful of how you spend your time. Are there areas where you can be more efficient? Consider techniques like time blocking or the Pomodoro Technique to maximize productivity.
• Technology Detox: Constant connectivity can blur the lines between work and personal life. Schedule tech-free zones throughout the day and disconnect completely before bed.

Remember, you are not a machine! Prioritize self-care activities like exercise, healthy eating, and getting enough sleep. A well-rested and healthy you will be better equipped to tackle both work and personal challenges.

Crescent Wealth Partners is passionate about helping clients achieve their financial goals and live fulfilling lives. We offer comprehensive financial planning services that consider your entire life picture, including work-life balance. Let us help you design a plan that brings you peace of mind and allows you to focus on what truly matters.

Call Crescent Wealth Partners today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors who are ready to support your financial goals.

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Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

Want to learn more? Read Strategies for Balancing Family and Financial Security

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Avoiding Emotion-Based Financial Decisions

Imagine diligently building your retirement account, only to see a sudden drop in Wall Street, leading to a significant loss. This may lead to impulsive decisions to win back your losses, but impulsiveness can further erode your funds. Are you truly investing, or have you unknowingly turned into a gambler?

Here are some steps to ensure you’re an investor, not a gambler:

1. Understand Your Investment Philosophy: Having a crystal-clear vision of your investment strategy is paramount. By understanding your investment philosophy, you remain focused on long-term goals rather than getting swayed by short-term market fluctuations.
2. Play the Long Game: Continuously checking your investments might seem like a good idea, but it’s a potential trap. Over-monitoring can lead to anxiety and hasty decisions. Instead, take a step back and review your portfolio monthly or quarterly, keeping your broader financial objectives in mind.
3. Collaborate with a Professional: Here’s where we can step in. At Crescent Wealth Partners, we aim to lessen the burdens of investment research and decision-making for our clients. Especially when the market takes a downturn, having a professional on your side can prevent decisions like selling low and buying high, which go against achieving long-term financial aspirations.
4. Believe in Your Financial Plan: If you’ve partnered with a professional (like us), rest assured your financial plan accounts for market volatilities. However, if you ever find your financial goals changing, never hesitate to revisit and realign your plan with a trusted advisor.

In summary, while the financial journey may have its share of ups and downs, having a steady hand, a clear vision, and a trusted partner can make all the difference. Avoid being swayed by emotions, and stay committed to your long-term goals. At Crescent Wealth Partners, we’re here to assist every step of the way.

Call Crescent Wealth Partners today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors who are ready to support your retirement goals.

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Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

Want to learn more? See How to Avoid Making Emotion-Based Financial Decisions

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A Millennial’s Checklist for Retirement… are you on Track?

With the economic after-effects of the pandemic: housing market bubbles, inflated grocery prices, and employment changes, it’s not surprising that a recent Goldman Sachs study* found 34% of millennials feel like they’re behind on saving for retirement.

How do you know if you’re on track?

Considering most millennials plan on retiring between the ages of 60-64, the stress of a volatile economy creates challenges in understanding the best ways to save and invest money now… and how much is going to be enough.

Although corporate pensions and confidence in social security as viable income for retirement have diminished, millennials are- categorically- saving earlier than previous generations: 401k, company stock options, IRAs, and Roth-IRAs are common investment strategies. Yet, depending on current lifestyle and retirement vision, other options may offer greater returns and solutions.

Although retirement goals are unique for every individual, creating a savings portfolio that builds from the equivalent of one year’s salary to approximately ten times a pre-retirement annual salary is a common prediction for adequate savings.

Yes, those numbers can feel overwhelming, especially if facing student loans, credit card debt, and little funds already set aside. But there’s always a way to structure a retirement plan to fit today’s needs and tomorrow’s goals.

Whether the ideal retirement plan includes traveling the world, starting new hobbies, or simply enjoying life without financial stress, Crescent Wealth Partners is here to help you design a plan for future financial security.

Is a financial advisor really necessary? Do you need help with your Millennial’s Checklist for Retirement?

According to a 2019 Northwestern Mutual study, working with financial professionals results in “substantially greater financial security, confidence, and clarity than those who go at it alone.”

Our Crescent Wealth Partners team of experts is dedicated to minimizing your current financial stress and maximizing your potential for the future you’ve dreamed of. Let’s customize your retirement plan and invest in your future together.

Call Crescent Wealth Partners today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors that are ready to support your retirement goals.

Follow us on social media:

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LinkedIn – https://www.linkedin.com/company/crescent-wealth-partners/mycompany/

Brian Grogan LinkedIn – https://www.linkedin.com/in/briangrogancrpc/

Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

Want to learn more? See Millennials and Retirement: How Do You Stack Up?

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But, similar to utilizing time-management tools because there’s a limited number of hours in a day, a budget is merely a tool to manage finances and help reach financial goals efficiently.

How to Make a Budget Work for You

Whether your goal is buying a home, paying off debt, building a nest egg, taking an amazing vacation, or owning those boots you’ve had your eye on… a budget is the most effective way to meet your financial needs and goals.

Though not always easy, the first step is to take an honest look at your current finances:

• Income
• Savings
• IRA/Retirement funds
• Credit card debt
• Total loan debt: car, education

Then, track your recurring monthly payments:

• Mortgage/rent
• Student loans
• Car payments
• Utilities: phone, tv/internet, water, heat, electric
• Gym memberships
• Insurance
• Emergency account: unexpected health, repair, unemployment costs

Next, list your monthly variable expenses:

• Groceries/food/coffee
• Gas
• Entertainment
• Household incidentals: cleaning supplies, toothpaste, etc
• Clothing
• Donations
• Wellness: haircuts, manicures, pedicures, therapeutic massage
• Car maintenance: oil change, repairs
• Gifts
• Apps

Finally, set three financial goals:

• Short-term: within the next 30-60 days (clothing purchase, transfer credit card debt to 0% interest card, holiday savings account)
• Mid-term: within 6 months-1 year (pay off one debt, vacation, retirement savings contributions, building emergency savings reserves)
• Long-term: 5-10 year plan (home or car purchase, pay off debt, travel, investment accounts)

Creating your budget now simply becomes a tool for meeting your goals.

If time allows, take a month or two to track every expense for a better understanding of how and where you’re spending your money.

Since income and recurring payments are often fixed, monthly variables are ideal for adjustments.

Instead of a daily coffee shop stop, can coffee be made at home three days a week, and the savings go toward a short or mid-term goal?

Will paying an extra $25 toward credit cards or loans get you out of debt months early?

Are automatic payroll deductions to savings or retirement funds available?

Your budget needn’t be restrictive; it just needs to work for you and your goals for the near and extended future.

Crescent Wealth Partners is here to help you determine your financial strategy to meet your short- and long-term goals and create a budget customized for you. Our team of experts is dedicated to minimizing your financial stress and maximizing your life-long happiness, whether that means reducing or eliminating credit card debt, structuring a large purchase plan, or saving for the future.

Call Crescent Wealth Partners today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors, ready to assist your planning goals.

Follow us on social media:

Facebook – https://www.facebook.com/Crescentwealthpartners

LinkedIn – https://www.linkedin.com/company/crescent-wealth-partners/mycompany/

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Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

Learn more: How to Prioritize What’s Important in Your Budget

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Incorporate these 6 financial changes after buying a home…

1. Restore Emergency Funds: Homeownership often entails costly emergency repairs: roof, HVAC, plumbing, or appliance. If closing costs and down payments dipped into your emergency funds or savings, strive to save 6-9 months of monthly expenses in reserves to cover unexpected costs or repairs.
2. Reevaluate Your Tax Plan: First-time home buyer? Work from home? Homeownership may provide certain itemized tax deductions, including mortgage interest and property taxes. A financial planner can help you determine if itemizing your taxes is advantageous for your financial goals.
3. Adapt Your Budget: Mortgage payments, homeowners’ insurance, property taxes, utilities, and rebuilding emergency reserves may require adjustments to your overall budget to maintain living within your income means and saving towards your financial goals.
4. Determine Insurance Needs: In addition to homeowners’ insurance, changes in life, disability, and health insurance policies may be necessary to ensure coverage and protection in the case of unexpected illness or financial hardship.
5. Pay Attention to Payments: Acquiring new debt with a mortgage often causes an initial drop in credit score. Making payments (especially mortgage payments) on time of at least minimum balances will help credit scores recover faster.
6. Review Financial Goals: Schedule an appointment with your financial advisor to ensure you maintain your path to long-term financial goals- even with new and changing expenses.

New homeownership is an exciting, albeit stressful, time. Planning and accommodating current and future financial changes minimize stress. Ensure you’re on the right track and build confidence with trusted financial advice.

Buying a Home? Start Planning with Crescent Wealth Partners

Crescent Wealth Partners is here to guide and strategize the best financial plans to meet your long- and short-term goals, especially after purchasing a new home. Our team of experts is dedicated to minimizing your financial stress and maximizing your life-long happiness.

Contact Crescent Wealth Partners to schedule a time to discuss your financial blueprint to map where you are today to where you want to be in the future.

Call us today at 941.923.3663 and visit us at cwpadvisorygroup.com for additional information and to meet our team of financial advisors ready to assist your planning goals.

Want to learn more about this topic? Read 5 Modifications to Make to Your Finances After Buying a Home

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What You Need to Know about Interest Rates – It’s been said that “if you understand compound interest you earn it, if you don’t understand it, you pay it.” Interest rates fluctuate frequently and what you don’t know can hurt your wallet, savings, and credit. Whether you’re looking to make a large purchase, utilize credit cards for spending, or add to retirement savings or investments, interest rates can affect your current and future finances.

What is financial interest?

Obtaining a loan for a large purchase (house or car) or using a credit card for expenses means you’re borrowing money. Interest, in the form of percentage or designated dollar amount, is the price for the benefit of borrowing said funds.

Additionally, the terms of the interest rate are often dependent on how much time is given to pay back the loan in full: months or years.

However, the cost of paying interest also means paying back more than the initial loan. And, depending on the percentage rate of interest, the added costs can add thousands of dollars to the original loan- especially if the sum of the loan/credit requires several months or years to pay off.

A higher interest rate typically results in a higher monthly minimum payment, with a lower percentage of the payment going towards the principal (original loan amount) balance. Conversely, a lower interest rate typically reduces the minimum payment and increases the percentage applied to the principal balance.

Interest Rates: Examples

For example, a $100,000 30-year mortgage loan with a 7% interest rate would result in an approximate $665/month payment… a final loan payback of approximately $239,400 at the end of the 30-year period.

The same $100,000 30-year mortgage loan with a 6% interest rate would result in an approximate $600 monthly payment… or $216,000 at the end of the terms.

Likewise, carrying a monthly balance on credit cards ensures you’re paying significantly more than the original product/service cost. Yet, paying off credit card balances in full each month incurs no additional interest fees.

When it comes to investments and savings, though, higher interest rates mean you’re earning money. Though the monthly increment may seem minimal, over months and years the rate of return can build significantly.

Ready to make your money work for you?

Taking a broader look at your current finances and future financial goals can help you make financial decisions that fit your saving & borrowing needs.

Crescent Wealth Partners is here to design your financial strategy to meet short- and long-term goals. Our team of experts is dedicated to minimizing your financial stress and maximizing your life-long happiness whether that means reducing or eliminating credit card debt, structuring a large purchase plan, or saving for the future.

Call Crescent Wealth Partners today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors ready to assist your planning goals.

Want to learn more about this topic? Read Understanding Interest Rates and Your Financial Situation

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These 7 smart ways to use your tax refund may not reap instant gratification, but rather better serve your financial and personal goals in the long run.

1. Pay Down Credit Card Balances: Carrying a balance on your credit card? Use your tax refund to pay down debt, especially if you’re paying compound interest. Confirm with your credit card company, but typically any payment above the minimum due is applied to the balance, thereby potentially reducing the total number of payments.
2. Build your Emergency Reserves: Though three months is standard, the pandemic illustrated the importance of having an extra month or two of monthly expenses in reserves. If necessary, designate a separate account for accessible funds that are available when needed yet relatively out of sight, out of mind.
3. Invest in Education: Whether you’re investing in your child’s future education or your own, higher education can increase salary potential. Likewise, some college savings programs generate their own tax benefits thereby further maximizing your tax refund.
4. Invest in your Future: Need capital to start your own business? Ready to expand your current company? Utilizing your tax refund for business growth might elevate future income and returns.
5. Improve your Home Value: Will home improvements increase functionality or life quality for you and your family? Will improvements increase your home value and potential sale price? Utilizing your refund for renovations may pay off in both emotional and financial gains.
6. Contribute to Retirement Funds: It’s never too early to begin saving for retirement, and it’s never too late to begin diversifying an existing retirement portfolio. Applying your tax refund to retirement accounts can help you reach maximum annual contribution allowances.
7. Contribute to Charity: Donating to causes important to you is rewarding in and of itself, but, in many cases, that donation earns tax benefits as well. Structuring your tax refund donation appropriately has the potential to maximize your ability to continue supporting these essential organizations.
   

Do you have questions?

Not certain which of these seven are best for your financial and personal goals? Unclear on the differences between a Roth or Traditional Individual Retirement Account (IRA)? Ready to empower your financial confidence?

Contact Crescent Wealth Partners to schedule a time to discuss your financial blueprint to map where you are today to where you want to be in the future.

Call us today at 941.923.3663 and visit us at crescentwealthpartners.com for additional information and to meet our team of financial advisors ready to assist your planning goals.

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Brent Hillerich LinkedIn – https://www.linkedin.com/in/brenthillerich/

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Regardless of your income or financial status, applying for financial assistance is worth the effort.

It’s unimaginable, but nearly 3 billion dollars in grants and scholarships go unused yearly simply because of the many FAFSA forms never completed.

Don’t let your doubts about eligibility or confusion with filling out financial aid applications stop you from applying. You may be surprised and receive even more than expected!

The article, “FAFSA: Don’t Leave Money on the Table,” will help you get started down the road to financial aid.

The first step in applying for financial assistance is filling out the FAFSA (Free Application for Federal Student Aid) form, available online. If your child is beginning college next fall, and you haven’t done so yet, you have until the June 30 deadline to file a FAFSA.

After filing, you should receive the SAR (Student Aid Report) containing information about the aid you will receive. The chosen schools will use this data to prepare a financial aid package if eligible for financial assistance.

For more details, read “FAFSA: Don’t Leave Money on the Table.” You can also visit the Department of Education for more information on federal funding.

Partner with an experienced financial planner.

Contact Crescent Wealth Partners to schedule time to discuss your child’s college funding, FAFSA, and your family’s financial plan. We will help you iron out the details and answer any questions to ensure your child gets the best education while receiving the financial assistance they deserve.

Call us today at (941) 923-3663 and visit our website for additional information on how our team of financial advisors can help you with all your financial planning goals.

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