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.

You Already Have the Keys (Here's How To Use Them) to a Better Life

You Already Have the Keys (Here's How To Use Them) to a Better Life
What would make your life better? A new house or car? A bigger paycheck or bank account? It’s easy to want more when you think of being happier and living better and there’s little doubt that money can buy some (more) happiness. But the happiness we get from money is fundamentally limited. It leaves us wanting more, and it’s not enough on its own to enjoy a truly satisfying life. The reality is a lot of the things that can make us happy and enrich our lives have nothing to do with money. The following are 7 little upgrades that can make life better in big ways: Go outside Say no to things that drain you Practice gratitude daily Prioritize self-care Don't let negativity take over Volunteer Nurture your relationships Living better doesn’t mean we have to make radical changes. And we don’t have to wait for some benchmark or
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How Far Could $1 Million Go In Retirement?

How Far Could $1 Million Go In Retirement?
A million dollars used to be the ultimate target for retirement portfolios. Retiring as a millionaire brought status and confidence that you could live comfortably during your golden years. If you retired with $1 million in 1970, you probably didn’t have to worry about your nest egg running out, even with a lavish lifestyle. It would be like retiring with $6.9 million today. Retire with $1 million in the ’80s, and it would have been like retiring with $3.35 million in 2021. And in 1990? A cool $1 million would have gone twice as far as it does these days. Clearly, $1 million doesn’t go as far as it used to. Just how far could it go these days? The answer depends on how and where you live. In retirement, as in real estate, location is everything (or, at least, it’s a lot). Click here to see a map that
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Forbes Identifies Michael Silver as a Best-In-State Wealth Advisor

Forbes Identifies Michael Silver as a Best-In-State Wealth Advisor
Forbes recently released their rankings for 2021’s Best-In-State Wealth Advisors, spotlighting more than 5,000 outstanding wealth advisors across the country. Baron Silver Stevens Financial Advisors, LLC’s Chief Executive Officer, Michael J. Silver, CFP®, AEP®, CLU, was named amongst those standout wealth advisors. Michael ranked 21st  in South Florida, marking a distinguished acknowledgement for his years of experience, proficiency, and focus on making a positive impact on his clients’ lives. Those nominated for the prestigious Best-In-State recognition were researched, interviewed, and then given a ranking within their particular states. Michael’s inclusion in 2021’s Best-In-State Wealth Advisors highlights his dedication to his clientele, his more than 20 years of experience in the field, and his commitment to making an impact in the comprehensive wealth management industry. The selection process was based on an algorithm of both quantitative and qualitative criteria including components such as in-person interviews, compliance records, industry experience, revenue produced,
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5 Critical Facts You Need to Know About Bear Markets

5 Critical Facts You Need to Know About Bear Markets
Bear Markets Are Inevitable. Here's How To Keep Your Cool. Bear markets come and go. They are a natural part of the market cycle. But we never know when they'll happen or what exactly will trigger them. While we can't predict when or why bear markets happen, what we do know is that bear markets commonly make people emotional and irrational. They can even breed a crowd mentality that causes paranoia and panic. Want my advice? Stop watching what others are doing. Focus on your own needs, portfolio, and risk tolerance. It's nearly impossible to know what other investors are thinking and doing in real time, just like it's impossible to know what the "bottom" is in a bear market. So, try to keep a level head and long-term view. And try to stay realistic. Remember, all bear markets eventually pass! You'll never get to enjoy a market upswing if you
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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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