Blog

Welcome to our Blog! At Baron Silver Stevens, we feel it is important to empower our clients with information that can positively affect their lives.

Throughout our Blog, you will find interesting articles, updates on our firm, and practical financial planning tips.

What Your Financial Advisor SHOULD Be Doing For You

What Your Financial Advisor SHOULD Be Doing For You
The idea of paying money to someone for them to tell you how to handle your own money can be a difficult concept for people. After all, you can do your own research and listen to the news and that should be sufficient enough to determine where and how to invest, right? The most common and costly error folks make is thinking that if they know what to invest in, their financial life will turn out the way they want it to. But there’s so much more to it than that. A good financial planner helps you make a “financial game plan” that addresses not only retirement goals but also how you should navigate life’s expected and unexpected transitions. They take these complex issues and make them more digestible so you can understand how your money is implicated throughout different walks of life. A good financial planner will provide clarity. Moving
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7 Important Reasons to Set Financial Goals

7 Important Reasons to Set Financial Goals
No matter what stage of life you may currently be in, setting financial goals is imperative. A Harvard Business Study conducted in the late 1970s, revealed that only 3 percent of the students in its MBA program had put pen to paper to write down their goals and a concrete plan. Ten years later, that same small segment of students who wrote down their goals were earning ten times as much as the remaining 97 percent of their class. While there are debates regarding the legitimacy of this study, the outcome highlights an undisputable fact: setting well-defined, written goals is critical to accomplishing them. Setting goals as they relate to your finances is the first step in achieving financial health and security. Identifying and thinking through both short-term and long-term financial goals will play a tremendous role in dictating your financial future. The following are some of the most important reasons
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Do It Yourself Retirement Planning- Consider this:

Do It Yourself Retirement Planning- Consider this:
Did you know that when Andrew Carnegie was drafted by the Army to fight in the U.S. Civil War, he paid another man $850 to report for duty in his place? Granted, this was common at the time but this is a prime example of how this tycoon mastered the art of delegation. In the early 1870s, Andrew Carnegie co-founded what would later be known as Carnegie Steel Company. By 1902, he was the richest man in the world. According to Carnegie, “No person will make a great business who wants to do it all himself or get all the credit.” Undoubtedly, without Carnegie’s ability to delegate and outsource tasks, he would never have grown into the success that we think of him today. So, let’s talk about delegating/outsourcing. Throughout your career, you built a skillset that allowed you to complete jobs or projects better than anyone else. Once you got
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Is It Smart for Retirees To Pay Off Their Mortgage?

Is It Smart for Retirees To Pay Off Their Mortgage?
Reaching retirement and relishing in a ceremonial mortgage-burning party was a twentieth-century custom recognized by many Americans. At that time, there was no better reason to celebrate than rejoicing in the liberty that comes with paying off your mortgage. Fast-forward to 2018, where mortgage-burning parties rarely, if ever, occur. Why? Well for starters, etiquette experts strongly disagree with the custom. But beyond that, financial advisors are now pushing baby boomers to reevaluate whether or not paying off mortgage debt makes sense. A recent survey from American Financing, a national mortgage banker, revealed that 44 percent of Americans ages 60-70 still have a mortgage upon retirement. Baby boomers seem to be much less debt-averse than the previous generation of Depression-affected retirees, pushing them to reconsider the benefits of paying off their mortgages. As such, retirees will look to a financial advisor to conduct a strategic analysis of an individual’s financial situation, revealing
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