Robert E. Maloney

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Retirement, Small Business, Lifestage Based Planning
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“Robert E. Maloney is the Managing Member of Squam Lakes Financial Advisors, LLC, which he founded in 1982. Led by the needs of his clients, Bob developed the firm’s expertise in comprehensive financial planning.”
Firm:

Squam Lakes Financial Advisors, LLC

Job Title:

Chief Listener

Biography:

Bob has long been a proponent of fee-only financial planning and was a founding member of the National Association of Personal Financial Advisors (NAPFA), the leading professional association of fee-only financial advisors. He served three years as president and director of the Northeast Mid-Atlantic Region of NAPFA and led a committee to develop NAPFA University for the continuing education of fee-only financial advisors and planners. In 2011, he received NAPFA’s Robert J. Underwood Distinguished Service Award and in 2013 he was honored and recognized as one of the 30 Most Influential for meritorious service to NAPFA and the Fee-Only financial planning community.

Bob’s client base included women, retiring and retired couples, owners of closely held businesses professors at Plymouth State University. They look to Bob and his team to help articulate personal goals and develop comprehensive planning strategies for achieving those goals.

In the 14 years prior to founding his own business, Bob administered estates, trusts, and developed new business for bank trust departments. He was awarded the Master of Science Degree in Financial Services (MSFS) from the American College in Bryn Mawr, Pennsylvania, and had his undergraduate studies at Siena College in Loudonville, NY. Bob holds the Accredited Estate Planner certification from the National Association of Estate Planing Councils, a leading organization of professional estate planners and affiliated estate planning councils focused on establishing and monitoring the highest professional and educational standards for the practice.

Bob has been recognized as one of the best financial advisors in the country by both Moneymagazine and Worth magazine. Medical Economics also recognized Bob as one of the best financial planners in the country for doctors.

Financial writers have often sought Bob’s expertise in areas of personal finance. He has been quoted in the Wall Street Journal, Investment Advisor, Medical Economics, Physicians Personal Advisory and Money Magazine. Bob was also featured in Financial Planner magazine for his work as a financial advisor to women.

Bob is immediate past president and a board member of the Squam Lakes Chamber of Commerce and president of the White Pond Watershed Association. He is an active member of the Town of Holderness, NH as a member of the Zoning Board of Adjustments and the Budget Committee and a long-time participant in the “Who Can Make the Best Apple Pie Contest” in Holderness, NH.

In 2012 Bob was named as a director of Speare Memorial Hospital in Plymouth, NH and serves on its Budget Committee and its Long Range Planning Committee.

He is a member of the New Hampshire Estate Planning Council; past Chairman, President, and Director of the Connecticut Estate and Tax Planning Council; and a former President and Director of the Southern Connecticut Chapter of the International Association of Financial Planners (IAFP).

Bob is an avid hiker and fresh-water fisherman, and lives with his wife Bonnie in Holderness, NH.

Education:

BS, Finance, Siena College
MSFS, Financial Services, Bryn Mawr College

Fee Structure:

Fee-Only--Retainer Fee and Fixed Plan Fee

CRD Number:

4556149

Insurance License:

#None

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All Answers
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    Career / Compensation, Financial Planning, Estate Planning
If all of my income is in a deferred compensation plan, will I still be able to make itemized deductions?
100% of people found this answer helpful

I really find this an interesting question and wonder who's going to benefit by the advisors recommendation. I could thoroughly understand maxing out contributions to the 457 plan but taking your taxable income to zero doesn't really seem to make much sense. If your total gross income from wages is $57,000 and assuming you have some other smaller amounts of income, you're not necessarily in a high tax bracket to begin with.  It seems kind of foolish to waste the deductions which would also include your personal exemption's that you would probably have close to $20,000 of taxable income that would generate a tax, at the federal level ,of almost 0. There really is not enough information to give you a specific recommendation except to say be careful and although there are significant advantages to contributions to the 457 plan in the form of current tax deductions, you might want to begin the project what your taxable income would be in your years of retirement. This may be a ways off but, it's worth considering. I hope this helps a little and good luck.

August 2017
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Did I make a mistake by choosing to invest in Whole Life insurance?
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April 2017
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Will I not be able to buy home until my own loans and my son's loans are paid off?
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June 2017
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What is the cost basis of my stock that is held in a trust upon my passing?
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June 2017
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Can I borrow against my annual bonus if I have it deposited into my 401(k)?
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February 2017