Clear Financial Advisors founder Robert Schmansky, CFP® participates in a panel discussion on mistakes investors make moderated by USAToday.com Editor-in-Chief Dave Callaway. Linked here is a USA Today article on our panel / Press Release / Videos #inthemedia #retirementinvesting #retirementplanning #rothira #financialbasics #financialadvisors #gpsinvesting #communityeducation #video #inthenewsvideo

I met with a couple recently to deliver their financial plan, and throughout the first half of the meeting we laughed repeatedly as they seemed to have guessed my recommendations and either did or planned on doing exactly what I had written down. They’ve been contributing 15% of their wages to their long-term retirement plan, have no debt other than a mortgage that will be paid off well before retirement, are able to pay a college tuition bill within their cash flow, and up u

The Money Mistakes Couples Make Clear Financial Advisors founder Robert Schmansky discusses mistakes couples make when dealing with money for WDIV's Ruth to the Rescue. #inthemedia #financialbasics #video #inthenewsvideo

Call it youth. We don’t think we need help with much. And according to a few articles I’ve come across recently, young people on the whole generally don’t perceive a need for professional financial advice. Although age is just a number, let’s assume for purposes of seeking financial advice that being ‘young’ ranges from the early 20’s to mid-40’s. And as someone who would be considered a young client, I completely understand the hesitation. The interaction that many have up u

Originally published as 'Financial Beginnings - Taking Off' on 8/9/2010 at the Financial Planning Association's All Things Financial Planning blog Robert Schmansky, CFP(r) This is the 3rd installation in a 3-part series This is the third and final blog in a series for those in the beginning stages their financial lives, and the pitfalls, learning, and strategies at each stage of starting out. Previously, I observed the potential for a lost generation of investors that I see m

Originally published 7/27/2010 at the Financial Planning Association's All Things Financial Planning blog Robert Schmansky, CFP(r) This is the second of a three part blog on the early stages of the Financial Life Cycle. In my last blog post, I introduced the concept of the Financial Life Cycle. This week’s blog is all about the strategies and pitfalls in the first adult stage, and next week I will look at strategies and pitfalls for those who have navigated the first stage su

Originally published 7/12/2010 at the Financial Planning Association's All Things Financial Planning Blog Robert Schmansky, CFP(r) Market volatility has led to concerns we may experience a lost generation of investors; a current Depression-era style generation that avoids the risks and long-term benefits of equity market investing. I too hear that concern with prospective clients, however I find these individuals fit into more particular groups than just young people. Many wh

With the recent market volatility and low interest rate environment, paying off the mortgage seems like a prudent investment choice to many. The rate on the mortgage is likely more than you recall earning on your stock portfolio, as well as what you are currently earning at the bank. But the timing of this decision could make it the worst financial choice you could ever make. Like many timing decisions, those paying off the mortgage today are failing at doing it correctly. Th

Originally published 3/17/10 at Filife.com Robert Schmansky, CFP(r) Though it's still more than a month away, the National Football League draft is the nonstop talk of sports radio. Given my hometown team's position at the number two pick in this year's draft, speculation is at an all time high. Will they pick the best athlete overall, or the one in a position they most need? Will their first choice be available, or will he already have been taken by another team? There may a

Originally published 2/22/10 at FPA's All Things Financial Planning blog: Robert Schmansky, CFP(r) One sign that the recession still isn’t behind us is the many who are still struggling with debt. A recent study by TransUnion shows more people are choosing to pay back their credit cards, while at the same time delinquent on the mortgage, in order to maintain credit for living expenses. This is in contrast to behavior many experts would have expected — that secured debt would

Originally published 1/10/2010 at the FPA's All Things Financial Planning Blog Robert Schmansky, CFP(r) In early grade school, my next door neighbor and best friend Mike and I were absolutely inseparable. Any free time you could find us engaged in all varieties of physical games — from basketball, football, to roller hockey. You name the sport, and we could be seen trying to make a one-on-one game of it in our parents’ yards. Often, Mike’s older brother would challenge us to

Originally published 11.27.2009 at the Financial Planning Association's All Things Financial Planning Blog College financing is a daunting task whether you are a saver, currently paying tuition, or a new graduate looking for ways to keep your new debt burden under control. The scope of the challenge is illustrated by a recent Fidelity Investments study, which revealed that parents of children in high school are only prepared to cover 11 percent of their children’s anticipated

Originally published Nov. 18, 2009 at FiLife.com Robert Schmansky, CFP(r) Like the rest of the world, you've watched the diving and stagnant interest rates on your savings and money market cash reserves over the last year with horror. It wasn't long ago your funds earned ~3% in 2008, and were cruising along in 2007 at 5.5%. Everything else being equal, we all would love to be earning a safe and steady 5.5% in today's economic climate. But it is because everything else is not