Amy Irvine

CFP®, CASL, MPAS
Personal Finance, Retirement, Lifestage Based Planning
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“Amy Irvine is passionate about forming a solid relationship as a financial coach; one who helps to enhance clients lives by recognizing and supporting their values.”
Firm:

Irvine Wealth Planning Strategies

Job Title:

Principal

Biography:

Amy Irvine is the Principal of Irvine Wealth Planning Strategies, a firm that offers on going financial advise that does not start with the investment strategy, but includes one.

Amy attained an Associates Degree in Accounting in 1992 at SUNY Alfred State College and went to work for a Rail Company called Morrison Knudsen.  She knew pretty quickly that it was not a fit for her and was lucky enough to find a job at a small trust company that pointed her down her passion path.  

Steuben Trust Company taught Amy about Wills, Trusts, and IRA's and gave her the necessary experience to make the next leap in her career as a pension and insurance benefits manager wih the Corning Carpenters Union (then Local 700). She was only at that job for about 15-months, but the exposure to actuarial science along with labor law and working one-on-one with all the plan participants deepened her love for helping people. Especially with the complex rules and choices they are exposed to both during open enrollment and at retirement.

Amy gained further knowledge and experience at Chemung Canal Trust Company, working in their trust and retirement services area for a little over five years. However, driving 2 hours a day began to take a toll on her and she really felt this strong pull toward financial planning that included more then just investments.

With the support of her husband, Brent, Amy went back to college and focused on financial planning; graduating with a bachelors degree in personal financial planning and the course work to allowed her to sit for the CFP (Certified Financial Planner) exam. During her final semester, she was required to do an internship that certainly opened her eyes to the difference between selling financial products and providing financial advice.

Amy moved on to Corning Credit Union's Investment Services Group and continued to not only hone her skills as an adviser, but also to do a sole searching on the type of adviser she wanted to be. During this time, Amy decided to continue her education and in 2011 attained her Masters Degree in Personal Financial Planning from the College for Financial Planning.

It was Amy's next career move that was probably the most influential; she joined Burns Matteson Capital Management, which is also a fee only financial planning firm. She loved the idea that there were no commissions and investment planning was weaved into financial planning. This is the job that gave her the courage to move from being an employee to an owner of a firm.

When Amy left to move forward with that venture, she did so by forming a partnership with another adviser in Merritt Island, Florida. This allowed her to escape the harsh winters of New York, but return for it's beauty in the Spring, Summer and Fall. Irvine Wealth Planning Strategies, LLC still partners with Pinnacle Financial Wealth Management to provide clients with financial plans, but the two companies are separate entities.

As the sole owner of Irvine Wealth Planning Strategies, Amy is excited to be able to offer the clients the services they are seeking; and to form strong partnerships with each of them that she is privileged to work with.

Amy also enjoys serving on the board for Faith-In-Action Steuben County and on the Ecology Committee for Cornell Cooperative Extension.

Education:

MA, Financial Planning, College For Financial Planning
BA, Financial Planning, SUNY Alfred
Associates, Accounting, SUNY Alfred

Assets Under Management:

$19 million

Fee Structure:

Fixed

CRD Number:

4868740

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    Debt, Financial Planning, Retirement, Social Security
Should my husband and I refinance our mortgage and add in our credit card debt and our car loan to have a lower monthly payment in retirement?

Some of this depends on what you owe for a mortgage (how much is left and for how long) and how much equity you have in your home.   Refinancing a mortgage can have a hefty closing cost fee associated with it, but you might want to consider a 15-year home equity loan.  Many times you don't have closing costs when you take out a home equity loan as long as you hold that loan for 3 years or more; you could roll your remaining mortgage, $9,000 in credit card debt and the car loan into one to make the payment lower.

If possible though, perhaps your husband could take a part-time job prior to your full retirement and use that to pay off the credit card debt and car loan; this would leave only the mortgage (which you could still possibly do a home equity for to lower the monthly payments).

You should examine what caused the credit card debt too - just to make sure that once it is paid off, it stays paid off.

last month
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If I were to take out a $10,000 loan against my 401(k) with a 6 percent interest rate over 24 months, how much would my taxes be at retirement to pay on this loan's principle and interest of this loan?
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