JPH Advisory Group, Inc.
Wealth Manager and Partner
Curtis began his career in financial services at a boutique wealth management firm in his hometown of Greenville, South Carolina. While he always had an interest and inclination towards finance and economics, he quickly discovered he also had a passion for teaching and working with people. During that time, he went back to school at night to complete his MBA from Southern Wesleyan University, and was subsequently promoted to Director of Financial Planning Operations. Later, he would go on to earn the CERTIFIED FINANCIAL PLANNER® certification through Boston University.
Soon thereafter, Curtis joined JPH Advisory Group, as a Senior Financial Advisor, to serve clients in all areas of the wealth management process. Curtis works with clients to design financial plans, oversee investment strategies, and most importantly listen. His strengths lie in taking complex financial problems, simplifying them into manageable choices, and then communicating options to clients in a straightforward and easy-to-understand manner. Curtis's goal is to guide his clients to their desired financial future.
In his free time, Curtis enjoys traveling, water sports, staying fit, and reading. He also enjoys blogging on personal finance issues at smartmoneynation.com.
MBA, Business Administration, Southern Wesleyan University
Assets Under Management:
Investment advisory services offered through JPH Advisory Group, Inc., a Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators nor does it indicate that the advisor has attained a particular level of skill or ability. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented. Information on this website is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Information on this website is directed toward U.S. residents only. All investments are subject to risk and may lose value. Past performance is not an indicator of future success.
Congrats on your promotion! Since your company does not offer an employer-sponsored retirement plan (such as a 401k, 403b, or pension plan), your only two options are an IRA or a Roth IRA. As Alexander already stated, the maximum you can contribute to either of these plans is $5500 for 2017, or $6500 if you are age 50 or older. Is addition, the Roth IRA does have income limitations as well.
As to which plan you should choose, my viewpoint is that it depends on your current tax bracket, and what bracket you will most likely be in when you retire. For more information, I've written a detailed explanation on how to choose between an IRA and a Roth IRA on my blog, SmartMoneyNation.com.
Best of luck!
Yes. If possible, you should payoff your credit card in full each month.
You will pay interest on the outstanding balance on your credit card each month beyond the first month in which the purchases are made. However, if you payoff the balance in full each month, then you pay no interest and are simply using the credit card for it's convenience, fraud protection, and rewards. I highly recommend that, if you do use a credit card at all, you use it in only that way.
Beyond that, having a working understanding of types of good debt vs bad is very important. In addition, I highly recommend investing some time into creating a workable monthly budget. Mint.com is one example of cloud-based personal finance software that can help you organize and track your spending. Here's a comprehensive review of Mint.com for 2018 that you can check out.
Financial advice encompasses a broad range of areas such as investing, tax planning, insurance, budgeting and cash-flow issues, and estate planning. However, if you are just looking for general personal finance books to get started, I'd recommend checking out these "must read" books on investing and personal finance.
Paying off the loan doesn´t change the fact that it sounds like you have a bad investment. Debt on investment property isn´t necessarily a bad thing, provided the investment itself is good. It just amplifies either your returns, or in bad scenarios, your losses. Plus, you are getting some tax benefit in that the interest is deductible against the rental income (but as you said, not against your regular income once you reach certain tax brackets).
Also, keep in mind that cashing out your 401k will trigger taxes and penalties if you are under age 59 1/2. Since it sounds like you are in a relatively high tax bracket, this is the last thing you want to do. Instead, your husbands plan sounds like a good one, just get rid of the property and focus on maxxing out your retirement accounts and contributing to your child`s 529.
Once all this is done, remember to do the basics when it comes to the stocks in your 401ks and elsewhere. I´ve written an article on my blog you might find helpful with this on the Three Essentials to Successful Stocks Investing.
Congrats on the cash reserve, you are far ahead of most people with that in place.
Depending on the interest rate on the student loan, I would consider refinancing it first, then have a plan to pay it down as quickly as possible. However, the more pressing issue is probably the truck loan. No matter the interest rate, you should try to pay that down as quickly as possible, since it's a loan against a depreciating asset (all vehicles are depreciating, for the most part). You can easily find yourself "underwater" on a vehicle loan. Consider selling it and downsizing to a more affordable car that you can buy for cash (or a modest loan). For more tips, check out these essential tips for creating a plan to payoff debt.