All-Pro Advisors

02/19/2024

My helpers tested out my trade show banner this weekend!

You will find All-Pro Advisors at the upcoming "Pittsburgh Bridal Showcase" on March 3rd to tell newly engaged couples about our financial planning service geared towards helping newlyweds manage their finances TOGETHER!

Our financial planning service is designed to help clients efficiently manage their finances through the various life events that occur in a young professional's career. 73% of our clients are under the age of 40 and it turns out that a lot of major life events happen before the age of 40!

Managing household income/spending, student loans, job promotions, marriage, home buying, having kids, managing investments, saving for retirement, saving for weddings, saving for college, and properly insuring your family are a few topics that we cover with our HENRY clients (high earners, not rich yet)!

Studies show that people are getting married later in life (age 28-30), which means there is usually more financial baggage that each brings to the table. We help facilitate the conversations necessary to get on the same page and become better financial partners as well as life partners. Keep an eye out for our booth!

12/20/2023

In addition to our new Financial Planning Packages for Newlyweds, we are offering a these limited planning engagements for Homebuyers as well!

3 Reasons Why We Created the All-Pro Pre Approval
🏠 Mortgage pre-approvals are not a great guideline for how much you can afford (in our opinion)
🏠 Most people involved with real estate purchases get paid on commission (which means they get paid more when you buy more)
🏠 Buyers are sometimes blinded by the light!

Click the link to read more !

With the median sales price of a home in the US rising to $416,200 in 2023, there is an argument to be made that one of the largest purchases of your life shouldn’t be made alone.

12/04/2023

Excited to announce the launch of our Financial Planning Packages for Newlyweds!

After meeting with 288 prospective clients over the past three years, a common trend from our millennial and Gen Z clients was that they were seeking direction when getting married and buying homes.

According to the US Census Bureau, the average age at first marriage is between 28 and 30 years old. Higher education, career aspirations, and a hint of YOLO are keeping people busier in their 20s than their parents. What that means, is that by the time the “big day” comes, the bride probably doesn’t come with a dowry, but more than likely an income higher than their future spouse, expensive travel habits, and a Venmo trail as long as the yellow brick road.

Most families stick to talking about politics around the holiday dinner table and avoid the money talk at all costs...and if they do, they likely won't tell you about the Target card balance.

That leaves you to Instagram, TikTok and Dave Ramsey for best practice advice on managing your day to day household finances together. Although we generally love Dave's MO, his blanket advice can be somewhat extreme. This service is designed to be an affordable introduction to the value of working with a Certified Financial Planner™.

https://www.all-proadvisors.com/planningpackages

Affordable financial planning packages designed for specific life events that young professionals encounter. Starting with newlyweds and homebuyers.

10/23/2023

I don't envy my first time home buying clients right now. Many are looking forward to upgrading from renting to owning but are continuing to lose bidding wars due to low inventory, overpriced houses, and high interest rates.

All situations are different but I wanted to throw out some facts on why it is ok to be a renter in the current market. Here is an example of buying a $450k house with a 20% down payment ($90k down, $15k closing costs and $360k loan).

Monthly payment is $3,326 which includes PA local property tax (Allegheny county average). Many think that this is a good way to build wealth (and in many cases it is), but take a quick look at these numbers.

$2,412 in monthly interest + $600 in property tax + homeowners (vs renters) $50 premium = $3,062. Of your total payment of $3,326...$3,062 is going to your bank, your local government, and your insurance agent.

If you think you might be in your home for 5 years or less...it might make sense to find a comparable home to rent. All real estate markets are different, but it is possible to overpay for a home. 8% interest rates are designed to make house prices decrease.

Imagine selling your starter home in 5 years for what you bought it for...you have to pay realtor fees, transfer tax and parts of the closing costs (added up to 7% conservatively). You walk away with about $76k after paying off your mortgage...when you paid $105k for your down payment (+ closing costs) and made about $17,500 in principal payments. This doesn't include excess cost of home maintenance.

Opportunity cost of owning vs renting = $105k invested in a 5 year CD (5% YTM) = $134,009 ... which puts you ahead by about $58,000 if you paid $3,326 per month for rent over the next 5 years.

Real estate on average increases by about 4% annualized over long periods of time. There are periods of time with no (or negative) price appreciation and shorter periods of time increase your risk of that occurring.

Can't predict the future, but you can learn from the past. Happy Monday!

10/05/2023

Finding the best financial advisor who aligns with your goals and values requires careful consideration. In this guide, we'll explore the steps to help you find the ideal financial advisor in the Steel City.

Finding the best financial advisor who aligns with your goals and values requires careful consideration. In this guide, we'll explore the steps to help you find the ideal financial advisor.

09/20/2023

Who Are HENRYs?

HENRYs are typically young professionals in their 20s to early 40s who earn well above average incomes. They often work in high-paying fields like finance, law, medicine, technology, or entrepreneurship. Despite their substantial earnings, they haven't reached the wealth levels of traditional high-net-worth individuals.

Visit our blog to read the full article on how we help HENRYs transition from High Earners to High-Net-Worth individuals.

https://mailchi.mp/all-proadvisors.com/are-you-a-henry

05/03/2023

It's Wedding Season! - 5 Tips for Merging Finances as Newlyweds

1 - Set financial goals together
2 - Understand each other’s financial habits
3 - Establish a budget
4 - Decide on joint or separate accounts
5 - Review your plan regularly

"

https://www.all-proadvisors.com/articles/5-tips-for-merging-finances-as-newlyweds

12/30/2022

Love seeing every investment firm prediction for the stock market in 2023. I've learned that no matter how smart you are, you can't predict the future...however, you can learn from the past! Hindsight is 20/20 so they say. Here are some highlights from an article I posted with some learning moments in 2022.

1 - The Law of Supply and Demand...pump $391 billion cash into your bank account and reduce the supply of goods bc of COVID = (surprise) PRICE INFLATION

2 - The Mystery Behind the Labor Shortage...the number of 65 year olds has increased by 36% in the past decade (more people are retiring)...in 2007 the number of births in the US declined by almost 20% = a lot less 16 year olds to work at your favorite ice cream shop in South Florida this snowbird season

3 - Economics of Education...why would you pay for a college degree when you can make $861,839 more over your life if you worked in a trade?

Click on the link to my blog/website to read more!

Happy New Year!

https://www.all-proadvisors.com/articles/2022-year-in-review-a-lesson-in-economics