Patrick Logue

CFP®
Personal Finance, Retirement, Investing
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“Pat Logue CFP® is passionate about helping families save FOR College and ON College while keeping an eye on Retirement Planning and/or paying off student loans.”
Firm:

Prudent Financial Planning

Job Title:

Owner/Financial Advisor

Biography:

Patrick Logue, CFP® professional, is a fee-only Financial Advisor and founder of Prudent Financial Planning LLC.  He specializes in College Planning and has completed the Capstone College Partners Course in College Planning.  Pat is passionate about helping families plan for college while working towards retirement.  He is a member of the National College Advocacy Group (NCAG), XY Planning Network, and National Association of Personal Financial Advisors (NAPFA).  With 20 years of experience in financial services, including 3 years in the Development Office at a non-profit, Pat is intimately familiar with Investments, Tax Planning, and Charitable Giving Strategies.  Pat also provides expertise in Wealth Management, Inter-Generational Wealth Transfer, and Estate Planning.  He enjoys hiking, running, coaching, and spending time with his wife, Erin, and their 2 children. 

Assets Under Management:

$6 million

Fee Structure:

Monthly Fee
Hourly Fee
Project-Based Fee

CRD Number:

4589561

Insurance License:

#W395385

Disclaimer:

Disclaimer: Prudent Financial Planning LLC (“PFP]”) is a registered investment adviser offering advisory services in the State of Florida, Illinois, and in other jurisdictions where exempted.  Registration does not imply a certain level of skill or training. The presence of this material on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by PFP in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.

All written content on this site is for information purposes only. Opinions expressed herein are solely those of PFP, unless otherwise specifically cited.  Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

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    Financial Planning, 401(k), Asset Allocation, Real Estate
Should I change my asset allocation strategy?
100% of people found this answer helpful

Congratulations!  You are well ahead of the curve for retirement as far as total assets.  But, it would benefit you to sit down with a CFP® and review your income, expenses, and asset allocation.  Whoever you sit down with will review the holdings in your 401(k) and look at which stocks you own.  This will enable them to make sure you are properly diversified.  They should also look at the yield you are earning on your cash.  The next step will be to assess your risk tolerance, time horizon, and goals.  With this information, they will be able to align your investment allocations more effectively.  

That is great news that you have no debt.  It would be helpful to know your gross monthly income.  That will be a factor in determining how well-positioned you are for the future.  It is also good to hear that you could cut your expenses down to $7,000.  You will need to dial in your current expenses as that will help you estimate your expenses in retirement.  Typically, you can estimate your retirement expenses to be 80% of your current expenses. 

One thing to consider for retirement is the ratio of your expenses to your total assets.  In retirement, a 4% drawdown is usually a pretty safe assumption.  Therefore, if you have $2,000,000 in assets at retirement, you could, theoretically, withdraw $80,000 per year.  Currently, you are spending about $120,000 per year.  Therefore, you might benefit from reducing your expenses to about $6,500 per month (if possible) in retirement.    
 

May 2018
    Debt, Investing, 401(k), Stocks, Taxes
How should I balance investing with paying off student loans, credit card debt and a mortgage, as a 25-year-old?
100% of people found this answer helpful
May 2018
    Investing, Asset Allocation, Choosing an Advisor
Should I keep money in a high yield savings account until it is to be invested?
100% of people found this answer helpful
May 2018
    Mutual Funds
Is a front load of 4.5 percent a normal percentage when purchasing mutual funds?
100% of people found this answer helpful
May 2018
    Debt, Social Security, Investing, Real Estate
Should I pay my house off with the money that I have or keep the money in my investment accounts?
100% of people found this answer helpful
May 2018