Event Recap: How to be Financially Savvy – A Workshop for College Students

Strategic Wealth Partners (SWP) recently held a workshop for college students to introduce the basics of personal finance. A group of 20 young adults gathered at the firm’s office in Deerfield for an interactive 90-minute discussion lead by Ashley Bebeau, senior financial planner, and Mike Karmin, wealth advisor. Hot topics of the night were budgeting, managing credit, and saving & investing to meet your goals.

Forming Good Budgeting Habits

Bebeau challenged the typical income – expenses = savings formula. “Savings should be a part of the budget, not a bi-product.” She introduced a couple of budgeting apps to show how easy it is to keep track of spending.

“It’s never too early to start forming good habits. We essentially want to open young adults up to understanding that their spending habits today have an immense effect on their ability to achieve their goals throughout their life.”

The Complexities of Credit

The section on credit generated a lot of interest and questions from the group. Bebeau explained the complexities of credit, and most importantly, why young adults should care. “Our goal was to get the group thinking about how to use credit wisely and that your score matters in many different situations, like when you apply for insurance or an apartment,” said Bebeau. “Based on the thoughtful questions from the group, I think it really resonated with them.”

Saving & Investing to Meet Your Goals

Karmin began the saving and investing section by asking the group what goals they have for the future. He showed a graphic of various goals, their time horizon, and appropriate risk levels. Karmin explained, “You should first have 3-6 months of expenses in a savings account. Then you can start thinking about your longer term goals, like buying a car, your first home, and even your retirement.” Investing was clearly a topic the group wanted to learn more about.

What’s Next?

While a number of important topics were not in the evening’s agenda, like insurance and the nitty-gritty of retirement accounts, Bebeau and Karmin felt good about bestowing actionable information on the group. “We could spend a whole day on any of these topics. The trick is to teach them the basics and give them the confidence they need to continue learning on their own,” stated Karmin.

The evening ended with a suggested framework for making a plan and, hopefully, everybody a little more eager to take control of their finances.

SWP is developing a more comprehensive series of workshops to impart the knowledge young adults need to be financially savvy.

For more information, or to speak with someone at Strategic Wealth Partners, please call 224.632.1600.

This article is for educational purposes only and no portion of this writing is to be interpreted as specific investment advice.

Strategic Wealth Partners (‘SWP’) is an SEC registered investment advisor with its principal place of business in the State of Illinois. The brochure is limited to the dissemination of general information pertaining to its investment advisory services, views on the market, and investment philosophy. Any subsequent, direct communication by SWP with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of SWP, please contact SWP or refer to the Investment Advisor Public Disclosure website (https://www.adviserinfo.sec.gov).

For additional information about SWP, including fees and services, send for our disclosure brochure as set forth on Form ADV from SWP using the contact information herein. Please read the disclosure brochure carefully before you invest or send money (http://www.stratwealth.com/legal).

Date Published: 8/31/2016

Is It Still A Good Time For You To Invest?
People often ask me, “is now the right time to get into the market?” If I had a crystal ball that told me when to buy and when to sell, I probably would not be writing this piece! With the highest inflation numbers since the 1980s, concerns about an economy potentially in recession, and the most prolonged downturn in stocks since the Great Financial Crisis, there is no question that investors have been challenged this year. The good news is that there are always opportunities for long-term investors with the right plan. Whether you are an experienced investor, have recently come into cash, or are new to the financial markets, below I discuss some things to consider when asking if now is the right time to invest.
Read More
Retiring in a Volatile Market
This week has been another extremely turbulent one in the stock market. While it is never comforting to see large, red numbers, volatility can be even more uncomfortable for recent retirees or those considering retirement. A colleague of mine recently told me that he has seen more of his clients retire in the last two years than in his first ten years of working at SWP. This got me thinking a lot about the notion of retirement. Retirement is a huge life event and adding volatile markets can compound the feeling of uncertainty. In this article, I will share some of the concepts we have been discussing with our clients.
Read More
Strategic Wealth Partners Ranked In Milwaukee Business Journal’s Investment Management Firms List
Strategic Wealth Partners is proud to be listed in the Milwaukee Business Journal’s Investment Management Firms ranking. The list is ranked by firm assets under management from December 31, 2021. “We are so pleased to be included in this list of the largest investment advisors in the Milwaukee area. We first entered the Milwaukee market in 2018 because we saw tremendous potential to combine forces with some outstanding professionals,” says Principal and Co-Founder Neal Price. “Kathy Klein, Joe Thompson, and the entire Milwaukee team are best-in-class. We are excited to expand our presence and become the go-to firm for comprehensive wealth management services in the Milwaukee area.” “Our success comes from a solid and loyal client base who believes in our personalized solutions. Our work on behalf of our clients is far-reaching, but it all comes down to our unique process that is client focused, manages complexity, delivers simplicity, and guides our clients to their goals,” states Wealth Advisor Kathy Klein. Strategic Wealth Partners is an independently managed wealth management firm that has been partnering with clients since 2008 in Deerfield, IL, and since 2018 in Milwaukee, WI. For more information on services, please visit www.stratwealth.com.
Read More