Act2 Transition Resources
Founder and Owner
Paula Ferro Osenni founded Act 2 Transitions in 2016 after a 25-year career in financial Services. As a Financial Advisor at Ameriprise Financial, Paula helped clients reach their goals in the areas of Retirement, Education, Investing and Estate Planning. She consistently achieved high client satisfaction scores, and was named a Top Wealth Manager in Hudson Valley Magazine her last 3 years in practice.
Paula is a Certified Financial Planner (CFP), has a Master’s Degree in Finance and is member of the Financial Planning Association, the Kinder Institute of Life Planning and the National Association of Professional Women. She created her Second Act by combining her fascination with mid-life transitions and her financial planning skills to help others see the possibilities in their own life in the space between working and retirement. A frequent attendee at Kripalu Yoga Center and Omega Institute, Paula draws on many modalities in her coaching work, helping others to blend the “zen” of inner wisdom with the practical realities of their real lives to craft their own unique Act 2!
Paula has been married to her husband, Dan, for 35 years. They reside in the beautiful Hudson Valley of New York. They have two children, Brion and Nick. Outside of the office, Paula enjoys gardening, reading self-help and historical fiction books, and listening to music. She enjoys biking on country roads in the fall and visiting new places and cultures.
MA, Business & Finance, State University of New York Empire State College
BA, Business, Political Science, Labor Relations, Niagara University
Fee only advisor providing transition coaching/planning.
Please DO NOT use these funds to pay off the mortgage! First, the cost of borrowing now is at historic lows. So the cost of money is better than it will ever be,and you have a great rate for an investment property loan. To withdraw 401(k) funds now removes the potential for gain on this amount for the next 25 years, and you pay a penalty for the privilege! By keeping the mortgage, you will benefit not only from the appreciation of the real estate, but also of the 401(k) investments, and keep Uncle Sam out of your pocket now. Using historical market returns, it should not be difficult to earn more than the 3.65% you are paying, especially in a rising interest rate environment. I am assuming you can cover the mortgage with your rental income. You can always decide to pay off the mortgage later or to accelerate payments if you feel you want to get rid of it. But honestly, at this interest rate, I would get a 100 year mortgage if I could!
First, if you can, round it up to at least 10 shares and then reinvest the dividends. Also, if you like the company, you can sign up for automatic monthly investing (say, $100 per month). You will be surprised how fast the shares will accumulate!
Selling covered calls is actually a pretty conservative strategy to get income. You know going in what your sell price will be, what your premium will be, and how long you have to wait. If you own the stock (a "covered" position), the only real risk is that of the price going down, in which case you are stuck with the "loss" and you will lose your buyer. But you keep the premium so it actually reduces your exposure to the extent of the premium received! The risky part is that you are owning stocks that can fluctuate wildly, regardless of the option. And, unlike some options whereby you can actually lose more that your investment, covered calls limit your losses to your cost basis in the stock. Just be careful about your premium price. Since you will have to hold the position for the duration (that is why I prefer 6 mos calls),you want to be compensated for that fact. If you trade volatile stocks that you would normally not hold without calls, you could rack up losses pretty quickly. Stick to small positions in solid stuff you know, and shorter terms, don't get too greedy, and you should do fine.
Actually, the distribution amount from each IRA account will have to be calculated separately. Then, you can take the total amount required from any of the accounts you wish!
I think women are becoming increasingly recognized as critical to organizational function. While the "old boys club" is alive and well, many of that generation are losing numbers and momentum in the business world. As younger, more open-minded, tolerant, and inclusive managers take the reigns, the role of women is bound to advance. And so many studies show that the traits common to women (nurturing, compromise, inclusiveness and life-work balance) actually enhance their performance over that of their traditional "dog-eat-dog" male counterparts. The glass ceiling may still be in place, but women are rising to the challenge in all the ways that count!