MCM Financial Management

02/13/2025

Give me a call or reach out by email. 757-873-8390 or [email protected].
www.mcmfinancial.net

01/31/2024

“Money dysmorphia refers to having a distorted view of your finances that can lead to poor decision making and anxiety.” It is the idea of having a gap between where you are and where you should be financially.

This is a great article about Money Dysmorphia, which most people fall prey to without even knowing.

The best way to combat this is to be secure in your finances. A great start is to get a financial professional to go over your finances and budget with you. Contact us at the link below to get your financial future moving in the right direction!

https://www.mcmfinancial.net/

Money dysmorphia refers to when people have a distorted view of their finances that causes them to make poor personal and financial decisions.

12/06/2023

The Cost You Can’t See :

Sometimes costs do not come directly from your wallet. They can also come in the form of missing out on potential gains. Here’s an example we were approached with this earlier week.

A 75-year-old woman purchased a $200k Universal Life Insurance Policy for $75k in 2003. Since 2003, the cash value has grown to about $98k because of the investments inside the policy. If she were to pass away before 2038, the family will receive $200k. If she passes away any time after, the family will only receive the value of the investments. Universal & “Cash-Value” life insurance policies often have caps or fixed rates for the investments within the policy. In other words, investments in the policy do not have as much room to grow.

If she had instead invested the $75k in 2003 into the stock market, specifically the S&P 500, it would be worth around $282,014 today. If the S&P 500 keeps on that pace for another 15 years, it could be upwards of $790,000 as of 2038.

While the woman had the right idea to get life insurance and invest her money, she may have let an uneducated decision cost her family over $500k in potential gains.

At MCM Financial Management, we believe in keeping life insurance and investments separate. This allows you to maximize the upside in the market while still having life insurance to take care of your loved ones should anything happen to you.

www.mcmfinancial.net/

11/09/2023

To give back this holiday season, MCM Financial Management is offering a drawing for 5 free budget reviews! We are honored to be able to serve our community and hope to help in any way we can. An ideal winner of this raffle is specified in our flyer.

To enter, scan the QR Code or go to the link provided below. Make sure to leave your name and contact info, and type “budget raffle” in the box.

https://www.mcmfinancial.net/contactmattmartin

Feel free to share this with anyone who could take advantage of this opportunity and happy holidays!

09/06/2023

Is Using a Credit Card Causing you to Spend More?

Below is a link to a study done by MIT showing that purchasing with a credit card activates the “reward center” of the brain more compared to using a debit card or cash. This dopamine increase when purchasing may be causing you to subconsciously spend more when using a credit card.

Credit Cards offer great benefits, but are they worth spending more than you normally would? MIT states that most credit card users are spending more comparatively than they are getting in rewards. In other words, the increase in your spending habits is more than you are receiving in rewards & points.

Next time you go to buy something on your credit card, think if you would still purchase the item if the funds were coming out of your account that instant. This can help with the “reward” factor your brain may be conflicted by. Another great way to deal with this is to only use your credit card for specific purchases like gas or food. Choosing the types of purchases where your card offers the most rewards is a great way to decide.

https://mitsloan.mit.edu/experts/how-credit-cards-activate-reward-center-our-brains-and-drive-spending

08/02/2023

One investment product that has grown in popularity recently is Indexed Universal Life Insurance (IUL). A IUL is a life insurance product that also offers the ability to be invested in the market. At face value it seems like a great investment idea, but it is often not as great as it seems. We believe that Life Insurance & Investments should be separated to reap the maximum benefits of both.

Before jumping into a big financial decision, it is always in your best interest to talk to a Fiduciary Financial Advisor to see what’s best for your specific situation. At MCM Financial Management, we never charge for our time or turn anyone away for financial help.

To learn more about IULs, Life Insurance, or other investment opportunities visit https://www.mcmfinancial.net/ or click this link to meet with an advisor https://calendly.com/mcmfinancialmanagement/meeting-financial-review

07/25/2023

We are incredibly honored to have won Silver for Best Financial Planning Company (Peninsula) in the Coastal Virginia Best of Awards! Thanks to everyone who voted and supported us! We pride ourselves on our commitment to help individuals and families and will continue to do our best for everyone we serve. We are extremely humbled to be the smallest company on the list and look forward to continuing to grow.

Link to Magazine (Page 34): https://coastalvirginiamag.com/article/2023-best-of-awards-peninsula-vs-southside/

Coastal Virginia Magazines "Best of 2023": Silver Award for Best Financial Planning (Peninsula) of 2023. Rankings range from Gold to Bronze and the award is based on number of votes received from the community. Criteria was you must be a financial planning company in the coastal Virginia area. Third-party rankings and recognitions are no guarantee of future investment success and are not representative of all client experiences.

06/21/2023

Know anyone who should take better care of their finances? At MCM Financial Management, we strive to educate anyone who wants to learn. Being financially educated can reap benefits in your life every single day.

06/08/2023

The Biggest Killer of Long-Term Gains: Emotional Decisions Within the Market

The National Debt Ceiling Default worries were brought to light on May 3rd, 2023, when TheWhiteHouse.gov and The New York Times released articles going over the situation. The consensus was that if there was a default, the stock market would react negatively. This caused many investors to let their emotions get the best of them and pull out of the market to protect their assets.

Since May 3rd, the S&P 500 is up +5.02%. Those investors that made emotional decisions based on media coverage lost out on crucial gains in the market this year.

One of the best and easiest ways to stop your emotions from affecting your investments is to talk to a financial professional before making decisions. A financial professional can talk you through the positives and negatives of these kind of decisions to help you understand what you would best like to do.

05/10/2023

The Average Tax Return in 2023 was $2,700. Tax Returns are a great way to catch up on expenses, splurge on a unnecessary purchase, or in this case, start your path to financial freedom through investing. Below is a graph showing what investing that $2,700 per year would look like using the real returns of the stock market the last 20 years.

For young parents, you may think about using your tax return to invest for your child’s college. This would more than pay for the tuition of an in-state university. To learn more about how to take advantage of your tax refund , reach out at www.mcmfinancial.net/ or call 703-795-1971 to schedule a free consultation.