Thoughts From The Manchester Stop.

NAPFA-Registered Financial Advisor Faye Doria had some interesting meetings with folks who came by the bus stop in Manchester, NH on October 28th. Here is what she experienced:

My first engagement was with someone who had a variety of questions. One was asking about doing a Roth IRA instead of his 401k, since he thought tax rates would be higher in the future. Since he doesn’t have an employer match on his 401k, I thought he could do the Roth IRA first, but probably should still be saving something in his 401k. Since he’s in a profession where he changes jobs often, he was worried about leaving a lot of small 401ks behind. He did establish a Traditional IRA, and I told him it would be easy to do a 401k rollover each time he left a job now that he has a place to roll to. So he’s going to rethink not adding to his 401k.

Another person was trying to decide when and how to get back into stocks or mutual funds after pulling everything out of the stock market to invest in real estate. We talked about being more diversified, and moving back into mutual funds in baby steps. Since she doesn’t have anything in retirement accounts, I thought that was the place to start for the tax deductions. And it would also be easy to dollar-cost-average into these new investments.

People seem to have come with some specific questions. I’m always impressed with the number of “average” people who pay attention and make really good financial decisions. I think the media spends too much time sensationalizing every issue, and not enough time pointing out what is best for average people. I’m always pleased to see people who are serious about their finances, even if they wish they had done some things differently.

Another advisor had the following to share:

I spoke with several people who had come a considerable distance to visit us on the bus. They were concerned about whether or not their retirement plans were impaired and whether they should continue to invest in their 401(k).

Some who have been recently laid off are planning to use their home equity loan to get through. They wanted to know if this was a good idea.

Next Up...Manchester, NH!

The bus is en route right now for Manchester, NH where it will be tomorrow (October 27th) doing a free advice event at the Center of New Hampshire. To learn more about the event simply click HERE to visit the Tour Schedule section of the Your Money Bus website.

Cold Day In Providence, But The Your Money Bus Stop Was A Success!

Here are some pictures from a very cold day in Providence! Also, be sure to check out the Providence Journal's coverage of the event by clicking HERE. You can also see what the local ABC affiliate had to say about the tour stop by clicking HERE.

From The Your Money Bus Stop in Providence, RI!

NAPFA-Registered Financial Advisor Angela Thomson was gracious enough to represent the NAPFA Consumer Education Foundation at the bus stop in Providence, RI. The setting of the stop was top notch as the bus was located outside of Burnside Park next to Kennedy Plaza. Besides having the chance to help local residents, Angela was also featured with the bus my local media.

Here are some of Angela's thoughts on the tour stop:

I was at the Providence location and it was cold and drizzling. When I sat down to write it was mid-morning and we had a steady but light turn out. Many of the attendees had diversified concerned regarding budgeting, where they should put their money given the economic conditions, job loss, educational funding and credit card management.

They were all appreciative of the handouts and interested in Kiplinger’s magazine.

We had some great TV coverage from ABC – 6. They said the spot would air at noontime so, hopefully we will get a large turnout after that.

I think this is such a worthy project, I just wish it were warmer. New England weather is so unpredictable!

Regards,

Angela Thomson

Photos From The Hartford Stop!

Our dynamic volunteers in Hartford spent the day meeting with folks about saving, debt and investing. The following are a selection of photos from the stop!

Some Thoughts From Hartford on October 17th

The following thoughts are being shared by a couple of NAPFA-Registered Financial Advisors from their stop in Hartford, CT:

Hi! I'm Jack, a financial planner on the Your Money Bus tour in Hartford, CT. We are spending the day meeting folks and answering their financial questions. I thought it would be fun and it has exceeded expectations.

Our venue for the morning and lunch hour is Hartford Public Library. Neat space to talk to folks. We are in a big glass atrium room. Privacy and beauty together. So great to have this venue!

All of us need to get real about saving money to meet our goals. We need to get used to fending for ourselves and also helping others when we can.

Thanks for listening!

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Hello from Hartford, CT

My name is Tom Arconti, I’m a financial advisor from Danbury, CT and a relatively new member of NAPFA. I’m delighted to be here in Hartford with the Your Money Bus Tour and to have the opportunity to talk with local residents about their most pressing financial concerns. In these uncertain economic times, it’s more important than ever for individuals and families to fully understand their financial situation and to get meaningful answers to their questions. I’m glad to contribute to this nationwide effort in a small way.

Best Wishes,

Tom Arconti

Your Money Bus Tour Stopped By The NASDAQ

This post is a couple days late because we were waiting for the photographic evidence. But we just got them from the NASDAQ. Here you see the bus in front of the NASDAQ tower in Times Square. Posing are NAPFA volunteers and representatives of TDAMERITRADE Institutional.

Other Thoughts From The NYC Stop

NAPFA-Registered Financial Advisor Clare Stenstrom talked with some folks in Harlem about their concerns. Here are a couple of her experiences:

A man came up to the bus and he just was released from jail, has no job and no idea what to do. We referred him to Project Renewal (a homeless shelter) or the Doe Fund that has a work program to help people get back on their feet.

Another person, Ruby, wants her daughter to go to college but knows she will never have the money to pay for it. We suggested that her daughter go to community college for two years, keep her marks up and transfer to a City University where she should be able to get financial aid and scholarships, providing she has good marks.

Renee Ross, another NAPFA-Registered Financial Advisor, had the pleasure of talking with other people about their concerns:

Today I had a chance to provide financial advice to the residents of Harlem via a Money Bus program. I had a chance to speak to people of all ages about various financial issues. There was an older retired woman who has an annuity with her previous employer. She is required to take a total withdrawal and wanted to get some advice about where to put the funds. Later I spoke to a young woman who wanted to learn about mutual funds and investing for her future. After that I spoke to a young man who owns a home, has been investing in his and his wife’s retirement account and wanted to get information about college funding.

There were many other people that had questions about finances. Some were as simple as, what should I so with my retirement account right now. The opportunity to talk with individuals in the neighborhood about financial issues is a wonderful thing. I was told by several people that I spoke to that being able to talk to someone one-on-one was really appreciated.

Photos From The Today Show!

We had a wonderful time at the Today Show to tell people about our important message. Hopefully you were ablde to see it. If not we will be posting the link in the www.YourMoneyBus.com website!

Time For The Today Show

The bus arrived at the Today Show at 4:30 am to get ready for the appearance on camera October 15th. Here is a snapshot early this morning!

This Week The Bus Is In NYC

The bus is on it's way to NYC this week on October 14-15. As of this moment (1:00 pm) we are sitting in front of the Adam Clayton State Office Building in Harlem getting ready for a free financial advice event for the residents here from 2 to 6 pm today. If you are in the are come on out!

Also, we are going to have the bus and our terrific volunteers on the Today Show tomorrow (October 15th) all morning!

More updates to come!

Money Questions From The Philly Stop

NAPFA-Registered Financial Advisor Karen McIntyre has had some interesting questions from people stopping by the free advice event at Independence Park in Philadelphia. Here are a few she thought could be of help to other people:

I’ve spoken to a few people so far this sunny morning. On everyone’s mind is how the financial crisis affects them. One young man preparing for his wedding was worried about his long term financial security. His 401(k) dropped 25%. What options exist? Work longer, save more? I suggested he use this as a learning opportunity and determine if his investment strategy needs to be adjusted given these unusual times. Of course I suggested he consult with a financial advisor. Since his 401(k) was at Vanguard, I referred him to their website to determine where he was on his road to financial freedom and for guidance on constructing an investment allocation geared to meet his needs.

Loren, a psychologist, stopped by to tell me how much he appreciated us being here. He said times were so much easier when he was young – no school loans, housing more affordable – and wonders how young people can do it. He’s not surprised that credit card debt is out of hand. He says young people can’t make ends meet due to school loans. I’m left wondering what the world will be like when my three year old graduates from college. Good thing we’re saving for his future!

The NYC Stop Has Been Updated!

If you are one of the 11 million New Yorkers planning on heading out to the Your Money Bus stop in New York City on October 14-15, you need to review the updated schedule for that stop. We will no longer be at Union Square on the morning of the 14th, but will rather be making quick awareness stops around the city before heading to Harlem. On the 15th we will be on the Today Show and are planning a press conference with Congresswoman Carolyn Maloney, sponsor of the Credit Cardholders' Bill of Rights.

Tune in for more details!

We're In Philly!

Well, the Your Money Bus has pulled into Philadelphia for our stop. We are on Arch Street (between 5th and 6th Streets) right in front of the National Constitution Center. We will be talking with people all day about financial issues that matter most to them. If you are in the area and have financial questions, stop by! We'll be here until 4:00 pm.

Senator Ben Cardin Joins The Your Money Bus Tour

Members of the media gather for a press conference this morning with Senator Ben Cardin, State Treasurer Nancy Kopp, Knight Kiplinger and Michael Joyce of the NAPFA Consumer Education Foundation. Each representative shared their views on the financial and economic concerns of people in Maryland.

Senator Cardin shared his view of the current crisis happening right here in the U.S. and what it means as the government votes to stabilize our credit markets.

If you live in the Baltimore area be sure to keep an eye out for the bus and our special guests.

Press Conference At 11:30 am in Baltimore!

We wanted to let everyone know that you can come on down to the bus later this morning not JUST for free financial advice, but also to view a press conference we are going to conduct with U.S. Senator Ben Cardin and Maryland State Treasurer Nancy Kopp. Senator Cardin will discuss the Senate's recent vote on the Bailout/Rescue Plan and what the recent economic turmoil means for every American.

The press conference will be held at 11:30 am in front of the bus at the intersection of E. Pratt and Light Streets.

We Have Pulled Into Baltimore!

Hey everyone! Come on down to the Inner Harbor in Baltimore. We are all set-up and now talking with people throughout the city about there financial concerns and needs. We will be here until 5 pm today then heading to Coppin State University for an educational symposium at 6:30 pm. Hopefully we will see you there!

Bus On Fox 5 in Washington, DC!

NAPFA-Registered Financial Advisor and member of the NAPFA Consumer Education Foundation board of trustees, Annette Simon, was interviewed on Fox 5 news in Washington, DC for the morning broadcast on September 30th. Here she is being interviewed about the tour and what we hope to accomplish in Washington, DC during our stop on October 1-2.

If you are in DC, come on out for free advice, symposiums and more! Click HERE to see the schedule of events in DC!