For more than five years, Edward Marsi has been working in the finance industry as an advisor. A senior financial consultant at TD Ameritrade, he assists clients as they work toward financial goals. With Edward Marsi’s help, individuals become more capable of looking at their retirement and financial plans to determine whether they are realistic.
When you set financial goals, your intention is to always meet them, however some unrealistic goals are destined to end in failure no matter what you try. To make sure your goals are realistic, take some time to determine how much control you have over each one. For example, setting the goal of getting a raise isn’t only dependent on what you do, it’s also dependent on your boss. Having goals that aren’t entirely in your control are risky and may not pan out.
On top of that, you want to set financial goals that you can comfortably meet given your current financial situation. Be honest about how much money you expect to make in the upcoming year, then figure out what goals you want to set. If you want to save, choose an amount that is realistic for your income.
You won’t make the goal of saving $30,000 if you only make $35,000 that year. Depending on your income, you may need to divide large goals into several short-term goals or simply delay the end date of your goal.
Finally, think about how motivated you are to accomplish the goal you set. Don’t set goals just because you know you should. Instead, set goals that you’re motivated to meet. This makes it easier for you to continue working toward your goal over time and allows you to set a specific date by which you want to meet your goal.
Edward “Ed” Marsi is a longtime New Hampshire financial professional who holds an executive position at TD Ameritrade. One of the core areas of focus for many of the clients Edward Marsi serves centers on a sustainable retirement.
For the many Millennials reaching an age where purchasing homes and starting families is becoming a reality, there are a number of ways of ensuring sufficient savings amid the myriad financial outlays life presents.
The two most common retirement accounts are IRAs and 401(k)s. The latter of these is employer sponsored and provides tax-deferred compensation; with annual contributions capped at $18,000, it is the employer who is responsible for selecting where the invested funds go. By contrast, IRAs offer tax-deferred advantages that are not provided through the employer and have a much smaller cap, of $5,500 a year.
One key retirement planning consideration is that these accounts should not simply be cashed out when changing employers. Doing so can bring about a 10-percent penalty, on top of the taxes assessed, for those who are not 59½ or older. Conversely, for those who have entered the retirement age, it is important to realize that at 70½, a withdrawal mandate for an annual required minimum distribution becomes a factor as well.
Edward (Ed) Marsi is a respected Manchester, New Hampshire-based financial consultant. As a senior financial consultant at TD Ameritrade, Edward Marsi works with clients to envision pathways to comfortable retirements that maintain a steady income flow.
One essential aspect of retirement planning centers on making real estate choices that don’t wind up owning you and your family. Unfortunately, many people who move upward into the residences of their dreams end up “house poor,” with meager savings and little spending money after accounting for the mortgage and upkeep of the home.
In addition to the monthly payments and taxes associated with home ownership, expensive houses come with a host of other embedded expenses, from landscaping to furniture, as well as utilities that are typically on the high side. They also provide loan leverage that can be tempting to utilize, but which may lead to higher levels of overall debt.
The bottom line is that entering retirement with a modest house and a mortgage that is winding down may make more sense than taking on an impressive residence that costs more than you can reasonably afford.
Accomplished financial professional Edward Marsi serves as a senior consultant in New Hampshire. When he’s not busy helping individuals and families understand their retirement prospects and meet their financial targets, Edward “Ed” Marsi enjoys cooking.
Below are four common cooking mistakes to avoid:
1. Overcrowding the pan. When pans are overcrowded, they produce steam and prevent browning. This dramatically alters the taste of meat and other items. Always leave enough room in the pan that pieces of food are not touching. If necessary, use two pans or cook in batches.
2. Using the wrong oil. Extra virgin olive oil is great for cooking a huge range of foods. But it doesn’t work with everything. Since it starts burning at a low temperature, it is not suitable for cooking at high heat.
3. Not reading the recipe. Many people read the recipe as they go along, when they should really be reading the entire recipe first. By reading the whole recipe, cooks can get the ingredients and equipment they need without rushing.
4. Not taste-testing. One of the great things about cooking is the ability to toss in extra ingredients or use substitutions. Since these alter the flavor of the dish, cooks must taste-test as they go. Taste-testing is also important for cooks who follow the recipe carefully, because some ingredients or amounts may be off.
New Hampshire-based senior financial consultant Edward “Ed” Marsi helps clients meet financial goals by leveraging the services available through his employer. When he’s not busy working with clients, Edward Marsi enjoys traveling.
Following are four questions to ask when figuring out where to travel next:
How long of a trip do you want?
Perhaps you only have a certain amount of time for traveling before going back to work. Or you just want a short vacation to get away from everyday life. Either way, the length of your trip limits potential destinations.
What’s your budget?
You can’t visit somewhere if you can’t cover the cost of travel. Even with a favorable exchange rate, food, airfare, and hotel costs may make some destinations too expensive. Think carefully about how much you have for travel and make sure you’ll comfortably cover everything when visiting a potential destination.
Why do you want to travel?
Whether you’re traveling to learn something new, have an adventure, or spend time with loved ones, your reason for traveling affects where you go. Some destinations fulfill certain goals better than others, so it’s important to consider your motivations for traveling.
What’s your ideal environment?
Figure out what your dream vacation looks like – weather, accommodations, and landscape – and find a destination that meets those characteristics. Although an unknown place may be cheaper, it may lack the environment you want.