Jonathan Miller

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Personal Finance, Retirement, Investing
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“Jonathan Miller, President of Parsonex, believes in a long-term approach for the biggest financial challenge that his clients can face… retirement.”
Firm:

Parsonex Advisory Services, Inc.

Job Title:

President, CEO

Biography:

Jonathan Miller is the President & CEO of Parsonex Enterprises, Inc. and its affiliates.

Jonathan leads a team of financial advisors who manage over $250 Million for clients across the country. He personally services a select group of clients located near his home in Colorado and brings a breadth and depth of knowledge that few advisors can boast.

Miller is an enthusiastic entrepreneur and executive who specializes in creating and growing businesses and systems, recruiting, training and developing financial advisers and entrepreneurs, creating effective marketing and distribution systems, and building strong management teams.

Miller has built several companies from the ground up, including Parsonex Securities, an independent broker/dealer, which he founded in 2007, Parsonex Advisory Services, an SEC registered investment adviser, an independent insurance agency and a mortgage company which no longer operates. Miller has succeeded in a variety of endeavors and excels at leading people-centric organizations.

Having started several successful companies he brings both industry level investment expertise and entrepreneurial experience to business owners and industry leaders who are seeking financial advice.

Jonathan, his wife Jayme, and their two children live in the front range and are active in the community.

Education:

BA, Political Science, Iowa State University

Assets Under Management:

$260 million

CRD Number:

4153196

Insurance License:

##0G30133

Disclaimer:

Copyright © 2007 - 2016 Parsonex Securities, Inc. All rights reserved. Member FINRA / SIPC. This site is designed for U.S. residents only. Parsonex Securities’ financial advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the products and services mentioned are available in every state.

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    Banking, Career / Compensation, Debt, 401(k), IRAs
How should I structure my savings in my lower 20s?

I am going to answer your question a little differently than what most people consider conventional wisdom.  I am basing this on what I wish I had done when younger and assuming that, like myself, you are in a career with a signficant upward income potential but possible periods of volatility.

 

First, yes, you absolutely want to have an emergency fund.  The conventional wisdom on this is to keep the money in "defensive" type strategies.  My wife, a few years ago, asked me why our signficant emergency funds were in defensive allocations.  She explained that if it was a true emergency fund we really planned to NOT use the funds, so she suggested that we should have the money invested more long term but with liquidity if we needed it.  We moved our emergency fund to a diversified stock portfolio (80/20) and have never touched it since.  That was good advice.

Next, if you can fund both a Roth IRA and non-IRA investments, of course do both.   You should definieltey max out your Roth IRA (or Roth 401k) because the advatnages are so signficant long term.  Getting the match is worth it in your employer plan.  However, after you have maxed out your company match, I would recommend investing all of it in a 100% diversified portoflio of stocks (you can use an ETF or mutual fund strategy) and building this up over time with consistent savings (not in an IRA.)  There are a few reasons for this.  1) Liquid assets won't be penalized if you ever need to access the funds and emergencies do happen.  2) the growth on a tax deferred accout is ultimately taxed as current income, the highest tax instead of capital gains (a Roth IRA is not taxed on the growth after 59 1/2 so this is of course best.)  3) Your ability to leverage or pledge assets or borrow inexpensively through a line of credit for businesses, purchasing real estate or anything else you need to do in life long term depends on your balance sheet and pledgable assets (IRAs usually don't work nor do 401k's.)  Of course tax planning is much more comprehensive and depends on lots of factors.  But, one of the top secrets of the wealthy is that they have the ability to inexpensively borrow and invest in opportunities without liquidating long term wealth (ownership in stocks/companies).  This isn't possible in an IRA.

The conventional wisdom other respondents have provided is correct, however, if I had the ability to advise certain clients over again from 20 years ago, I would have allocated more to non-tax deferred investments.  

Congrats on getting a good job and at least you have the most important step right regardless...investing money.

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If I am no longer employed, can I roll over a 403(b) plan into an IRA?
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