Eric Dostal

J.D., CFP®
Personal Finance, Retirement, Taxes
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“Eric Dostal is an Advisor at Sontag Advisory an independent registered investment advisory firm that serves clients in over 30 states and acts as a wealth manager, investment adviser, consultant, and fiduciary.”
Firm:

Sontag Advisory

Job Title:

Advisor

Biography:

A believer in continuing professional development, Eric Dostal obtained the CERTIFIED FINANCIAL PLANNER™ Professional (CFP®) designation, and graduated with a JD from St. John’s University School of Law. Eric recognizes the challenges investors face when planning their retirement and therefore he helps clients retire when and how they would like. Eric focuses primarily on providing affluent and high net worth individuals with expert, comprehensive and impartial financial planning advice to help those individuals achieve their unique life goals.

After joining Sontag Advisory in 2013, Eric has worked extensively with clients over the past 4+ years to create and implement their unique financial plans. Eric has demonstrated a high degree of skill developing and overseeing the investment, insurance, retirement, tax and estate planning strategies of his clients.

Eric currently lives in Merrick, New York with his wife Jamie and daughter Madeline. When not in the office, you can often find him spending time with family and friends. He also recharges by sitting down with a good book and honing his culinary skills.

Education:

JD, St. John's University School of Law
B.A. - History, SUNY Geneseo

Fee Structure:

Fee only

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  • Eric Dostal
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July 2017
    Investing, Personal Finance, Starting Out
June 2017
May 2017
April 2017
    Debt, Real Estate, Tax Deductions / Credits
April 2017
    Estate Planning

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    Personal Finance, Starting Out
If you had to give a young adult one piece of financial advice, what would it be?
81% of people found this answer helpful

I will give you three pieces of advice. First, pay yourself first. Before you spend any money on food, clothing, housing, entertainment, vacations, whatever you can think of, be sure you have put aside something for yourself. It is best if you set up an automatic transfer that corresponds to your paycheck deposit. Even if the amount is small, get into the habit of saving regularly and consistently at the beginning of your career. This habit will reap huge dividends for you in the future.

Second, invest your savings prudently. As your savings balance grows, many individuals will come to you with ideas of how to invest your money for the future. Be sure to take a critical eye to all of these proposals. Ask as many questions as you can. Decipher how the person you are speaking with is paid. Ask them to explain their underlying assumptions, go beyond the materials presented to you and dig into the details. Ask if they invest their own money in this way, and if the answer is no, ask why. Many individuals are highly experienced in personal finance and have the tools and the knowledge to guide you on the right path. It is your responsibility make sure that the person you are working with is one of these individuals.

Third, appreciate your greatest asset, time. Right now, the most powerful force you have going for you is time. The dollars you invest today will work and grow for you for the rest of your life. Those dollars will earn more dollars, which will, in turn, earn more and more. This phenomenon, known as compound growth, is extremely powerful, but it takes time. Know that this is a lengthy process, do not get discouraged, and enjoy the ride.

Good luck!

April 2017
    Personal Finance, Choosing an Advisor, Starting Out
I just graduated college. What should be my next step?
60% of people found this answer helpful
July 2016
    Retirement, Bonds / Fixed Income, Stocks
Should I be buying bond funds in a rising interest rate environment?
60% of people found this answer helpful
August 2016
    IRAs, Taxes
How is a conversion to a Roth IRA taxed?
60% of people found this answer helpful
October 2016
    Investing, Bonds / Fixed Income, Stocks
Should I keep bonds in my portfolio if interest rates rise?
59% of people found this answer helpful
March 2017