John Frye

CFA
Personal Finance, Retirement, Investing
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“With over 38 years of experience in the investment field, John Frye is Chief Investment Officer and a founder of Crane Asset Management LLC who oversees all aspects of Crane's investment and portfolio management process.”
Firm:

Crane Asset Management LLC

Job Title:

Chief Investment Officer

Biography:

Crane Asset Management LLC is a full-service investment counseling firm providing investment management services to private individuals, retirement plans, endowments, and charitable foundations. All accounts are managed on a discretionary basis. John Frye founded the firm in 2003, with a partner who remains Chief Operating Officer. They work with all of their clients to formulate a long-term investment strategy that will meet their investment objectives while addressing their risk profiles. Understanding their clients in this way enables them to develop unique plans based upon each of their clients’ needs to help them achieve their financial goals.

Before co-founding Crane Asset Management LLC, John served as Executive Vice President and Portfolio Manager at Renberg & Associates in Beverly Hills. He began his career with E. F. Hutton & Company in New York and subsequently worked with Alex. Brown & Sons in Baltimore. He received his Bachelor of Arts in Politics from Princeton University in 1977 and his M.B.A. from Columbia University Graduate School of Business. John holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Los Angeles.

Education:

BA, Politics, Princeton University
MBA, Finance, Columbia Graduate School of Business

Assets Under Management:

$92 million

Fee Structure:

Asset-Based

CRD Number:

849182

Disclaimer:

Crane Asset Management is registered with the State of California. A copy of Crane's Form ADV filing (Parts 2A and 2B) can be accessed here. In addition, Crane's Form ADV (Part 1) can be downloaded from the SEC's website. (Type in Crane's name in the field provided and follow the instructions on the site to download the information required.)

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September 2017
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    Debt, Social Security, IRAs, Real Estate, Taxes
Should I withdraw from my traditional IRA to pay off my credit card debt?
100% of people found this answer helpful

You must already know that any withdrawal from an IRA would be taxed at your highest bracket.  You say you have  "good job" so is that bracket 24% (over $82,500)?  If so, you would have to withdraw $85,526 to have $65,000 left to pay off the credit cards.  There is a better way.

If you'll allow me to give you a little scolding I have some good advice for you.  You say you have a good job and very modest expenses.  So, you have a spending problem.  You didn't dig that $65,000 hole all at once so it will take time to dig yourself out.  The way to do it is to quit spending, cold-turkey.  Only use your income for rent, car payment, utilities and food.  Live like a pauper and pay everything else to the credit card company until that balance is gone.  If you pay $2,500 per month the balance may be gone by the time you retire. 

Get in the habit of living frugally.  This will stand you in very good stead when you retire, as your $291,000 will not go that far.  (You should plan on withdrawing only $1,000 per month from the IRA in retirement.  Any more and you run the risk of depleting your savings.)

last month
    Marriage / Divorce, Financial Planning, Asset Allocation
What concepts can I use to guide the allocation of assets in my portfolio?
100% of people found this answer helpful
April 2018
    Debt, Estate Planning, Investing, Real Estate, Stocks
I’m 24 years old and I have $35,000 saved: should I stop investing in the stock market, and focus on saving more money? 
100% of people found this answer helpful
April 2018
    Mutual Funds, Stocks
If I plan to buy mutual fund shares when the stock market drops, what strategies should I consider?
100% of people found this answer helpful
April 2018
    Retirement, Social Security, Investing, 401(k)
Should we sell our investments and move our money into cash accounts?
100% of people found this answer helpful
April 2018