Photos From Albany

Your Money Bus Attracts Media in Albany

NAPFA-Registered Financial Advisor Joyce S. Cole, CFP, of J. Cole Financial Advisers, Inc. was at the tour stop in Albany and had a chance to be interviewed by Demetra Ganias of ABC. They talked about the goals of the Your Money Bus (to help Main Street get involved in learning how to manage their money through budgeting, managing their spending, and through keeping debt manageable). Paying off debt as a prerequisite to a meaningful savings plan. The retirement plan through work is the best deal around- dollar cost averaging a pay at a time getting various prices in a down market is a good deal.

NBC reporter Abigail Bleck interviewed Cynthia Zalewsky, CFP regarding how a consumer would go about securing an auto loan in this environment and basic car buying and financing tips. There was an auto show going on during our event so the topic was one of relevance.

ABC reporter Demetra Ganias also interviewed Cynthia Zalewsky, CFP on how we have become a nation of financial illiteracy. We discussed the lack of inclusion of finances in the education curriculum at every grade level of our school system. We also discussed the culture of consumerism and with it the acceptance of excessive leveraging ,that has evolved in America and its effects which we are now experiencing. Getting back to the basics of budgeting, saving, reducing debt and managing your financial house is what is important. The behavior change needs to start at this level.

Questions From Albany

Today in Albany, NAPFA-Registered Financial Advisor Bill Jerome spoke with a woman who works for Social Security. She was wondering if she should reduce her deferred compensation plan contributions because of the poor stock market. Many of her co-workers were reducing their contributions. We told her that her thinking was backwards; that stocks are on sale dirt cheap, and she should be increasing her contributions to her deferred comp plan and her Roth IRA not decreasing them. The stock market will recover. Now is the time to be taking advantage of the 50% off sale in the markets, and you should be contributing as much as you can afford to your retirement plans.

Another man had a question about whether or not it was a good time to be buying municipal bonds. Interest rates in the municipal bond market are fairly high right now, typically over 5% which is good for tax free income. They are usually safer than similar corporate bonds, since municipalities tend to not default on their debts.

Cynthia Zalewsky CFP, another NAPFA-Registered Financial Advisor at Saratoga Investment Solutions Inc. was manning the bus in Albany today.

She spoke with a gentleman inquiring about whether he should own bonds. We discussed the viability of quality municipal bonds with his taxable money and Treasury Inflation Protected bonds for his tax deferred accounts. Another gentleman had a question regarding in-service rollovers from a 401K/profit sharing plan to a self-directed IRA.

A woman stopped by wondering what asset classes she should be in today given the current market conditions. I recommended changing her current deferral percentages so that she is deferring more to the stock market via a total stock market index fund and a small cap index fund. We also discussed a TIPS fund available to her in her deferred compensation plan.

Hellooooooo Albany, NY!

The Your Money Bus Tour is now in Albany, NY for a stop at the Nelson Rockefeller State Plaza! So, if you are in Albany today and are looking for some FREE advice, come on down and get some today. While there you can also pick up a tool kit with tons of valuable information on everything from budgeting and savings to investing.

To learn more about the event simply visit the Tour Schedule section of the Your Money Bus website at http://yourmoneybus.com/Tour.html.

The Bus is En Route to Albany, NY

The Your Money Bus Tour is now headed to Albany, NY for a stop at the Nelson Rockefeller State Plaza on November 7th. So, when the election is over be sure to get out to the stop to get some free advice on your personal financial questions. While there you can also pick up a tool kit with tons of valuable information on everything from budgeting and savings to investing.

To learn more about the event simply visit the Tour Schedule section of the Your Money Bus website at http://yourmoneybus.com/Tour.html or just click HERE.

In the meantime, be sure to get out and vote on November 4th!