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Brandon Mink

CRPC
Retirement, Investing, Small Business
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“As a trusted wealth manager for over twenty years, Brandon Mink has helped individuals and families achieve their financial goals, and manage the complexities of their finances at various life stages.”
Firm:

Mink Wealth Management

Job Title:

Managing Director/Wealth Manager

Biography:

With over 23 years' experience in the industry, Brandon has seen his clients through both bull and bear markets. With an expertise in retirement planning, he draws on this industry experience to develop and manage financial strategies for high net worth individuals.

Brandon grew up in Northern Virginia where he is currently raising his three very active children. He graduated from James Madison University with degrees in Finance & Marketing. He enjoys staying fit, outdoor activities, watching movies and charitable endeavors related to underprivileged children.

As a CASA (Court Appointed Special Advocate), Brandon has been appointed by the court system to advocate for the best interests of abused and neglected children. www.casaforchildren.org 

Assets Under Management:

$200 million

Fee Structure:

Fee based

CRD Number:

2599782

Disclaimer:

Spire Wealth Management, LLC is a Federally Registered Investment Advisory Firm. Securities offered through an affiliate, Spire Securities, LLC. Member FINRA / SIPC. | DISCLAIMERS | Check the background of this firm on FINRA's BrokerCheck

All Answers
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    Financial Planning, Retirement, Investing, Real Estate, Women & Money
How should I invest the $200,000 I received from the sale of my house?
100% of people found this answer helpful

First, you need to have a reasonable estimate of your monthly expenses in Peru.   Second you need to subtract your fixed income sources, and lastly figure out how to receive a reasonable income stream from the money you invest.

So, for example, if your monthly expenses in Peru will be $2000*, and your income (presumably from Social Security) is $1200/ month, then you will need $800/ month from your $130,000 portfolio (if you need $100k in one or two years, that money should remain in a CD or money market).

If you need $800/ month from your $130,000 investment portfolio, that represents a 7.4% distribution rate.   If your portfolio is invested in mostly bonds and some stocks, you might return 5%/ year.  Assuming a 5% growth rate, you would then run out of money after 22 years.   If you don't have any beneficiaries, and expect to be 'too old to enjoy your money' by the time you turn 87, that might be completely acceptable to you.   Of course I simply gave you an example with broad assumptions (and not factoring inflation).

You can use the calculator attached to this link to help you hone in on the right answer.  

https://www.minkwealth.com/retirement-withdrawals-calculator/

To answer your question about investing more directly, I would urge you to look at a balanced mutual fund from Vanguard or Fidelity.  The costs are low, and unlike a stock or ETF (Exchange Traded Fund), you can set up a systematic distribution plan without incurring transaction costs (in this example $800/ month that would be direct deposited into your bank account).  

*I did a quick google search for cost of living, and on average, if your expenses in the United States were $5000/ month, then you can expect the same lifestyle will cost about $2000/ month in Peru.

Good Luck and remember the famous Peruvian Proverb:  Fortune and Olives are alike: sometimes a man has an abundance and other times not any. 

August 2018
    Banking, Career / Compensation, Debt, Financial Planning, Retirement
What should my bonus money be put toward: car loan, student loan, or savings for house?
100% of people found this answer helpful
September 2018
    Retirement, IRAs, Retirement Plans
Should I convert $100,000 per year to a Roth IRA before reaching age 70 if I have a traditional IRA account with $500,000 and a $20,000 income?
85% of people found this answer helpful
August 2018
    Career / Compensation, Stocks, Taxes
How can I reduce the tax consequences of selling old company stock?
50% of people found this answer helpful
September 2018
    Debt, Social Security, Investing, Annuities, IRAs
Can qualified charitable contributions be used as required minimum distributions (RMDs) from a variable annuity tax-deferred IRA to minimize taxable income?
0% of people found this answer helpful
September 2018