Taylor is the CEO and founder of Kovar Capital Management LLC. After starting his finance career with a major Wall Street firm, Taylor decided to branch off and start Kovar Capital in order to provide his clients with a more personal wealth management experience. He has been quoted and published in a variety of different media on topics ranging from healthcare to youth ministry to technology to, of course, personal financial management. Before founding Kovar Capital, he was a key member of the team that helped launch and implement one of the fastest growing healthcare technologies in the United States, HealthTrust Software.
Kovar Capital is a luxury boutique wealth management firm nestled in the heart of beautiful downtown Lufkin. As fee-based, fiduciary professionals, Taylor and his team most often serve in the role of financial life managers for successful business owners, healthcare specialists, c-suite executives, and other public figures such as politicians and professional athletes. In this capacity, Taylor's team monitors, manages, and implements strategic plans for their client’s vast array of assets, regardless of their type or location. With a strong focus on providing truly holistic advice, taylor is committed to serving families and businesses with an exclusive wealth management experience.
His passion in life is to be the example of what a Godly husband, father, and businessman represents. He lives his life and treats others the way that he wants to be treated and it is this lifestyle that has made him a trusted advisor to individuals and businesses across the globe.
Taylor is married to his high school sweetheart, Megan, and they live in Lufkin with their two young children.
BBA, Finance, Stephen F Austin State University
Assets Under Management:
The common sense disclaimer: This is a public website and questions are asked in an informal setting so all users should take into account that I do not know all of the details of your situation and as such cannot be held liable for your actions/outcomes/etc based upon my ideas.
Glad to hear you’re getting an early jump on investing. At 20 years old, $100/month will really start to add up as the years go by.
There are a lot of different places to take your money, but I’ll recommend two that I’ve used and like. One is Betterment, which is a fairly standard robo-advisor with great options for beginning investors. The company is a fiduciary so you can dictate your general strategy while getting responsible guidance.
I also like LendingClub for a variety of investments, from your IRA to casual lending. LendingClub has been around for a while and is pretty well known, but they still cater to investors who aren’t playing with massive sums of money (I believe you purchase a Note for as little as $25). Financing loans allows you to see your dollars at work in a way that company shares and ETFs don’t, and this strategy offers strong returns on average.
As you start investing, keep service fees in mind. Ideally, you want to invest enough that you’re not losing too big a percentage of your funds to trading fees. Some companies take a percentage of your investment, while others charge per transaction. If you’re buying $100 worth of shares each month and getting charged $9.99 per trade, you’re losing 10% of your investment capital, which is a good chunk. Trading less regularly and in bigger amounts will help offset these costs. Whatever platform you end up using, keep potential expenses in mind. Good luck!
Yikes. Sorry to hear these miserable student loans got their hooks in you. You don’t need me to explain why your situation isn’t ideal, so let’s just look at the options.
Many people would pretend this loan never happened and spend the rest of their lives running from collectors. I don’t advise you take this route, as the repercussions will haunt you forever. You don’t want to deal with wage garnishment and constant collections calls, not to mention atrocious credit and having to explain your situation to employers and landlords.
The other option is to work 20 hours a day, live off ramen, and try to speed up the payment process. To me, that sounds impossible, and it certainly won’t be enjoyable. If that’s the type of work ethic you have, give it a try; I think life is too short to let these loans dictate every minute of your day.
The last option is to take this one step and one payment at a time. Keep paying the minimum and fight as hard as you can to stay on the hardship program. For the time being, you just have to think of the payment the same way you do a monthly gas bill; don't measure it against the total balance. Just keep working hard, do what you can to increase your earning potential, and stay away from borrowing more if you can help it. You might not be able to get rid of the debt anytime soon, but that’s just the reality of your situation.
If you can earn enough to cover all your bills, pay the minimum loan amount and still put some money in an IRA or a Betterment account, go for out. It’s going to be hard to invest substantially, so you need to put your money somewhere with limited fees, and you need to remember not to compare your investment to your debt, as that will be very discouraging.
You’re in a bind. There are no two ways about it. However, this is the beginning of your miraculous comeback story. When you get to the other side of this, it won’t be because you bought a winning lottery ticket - it’ll be because you worked hard, managed your money wisely, took advantage of every opportunity to up your earnings, and chipped away until you beat the debt.
That’s a hefty car payment, so it’s a good idea to get that out of the way and free yourself up to invest more. Don’t go crazy and pay it all off tomorrow, but the money you’re saving is getting undermined if you have interest building on a $25,000 loan.
You mention $600 going toward debt - does that refer to the car loan, or do you have another balance you’re paying off? If there are no other credit cards or student loans with worse rates, pay the car off aggressively. If you care about your finances above all, you might want to consider trading the vehicle in for something cheaper. If that’s not in the cards, push most of that $1,100 toward the car. The faster you’re done with those payments, the more you’ll be able to grow your overall wealth.
It sounds like you’re earning good money and have your sights set on the future. Get that debt out of the way and then get to work building your retirement and investment accounts.
You’re going to love this answer - it depends!
It might be a sound decision, but it depends on more than just the finances you listed. For starters, where you live and the current housing trends in that location are important. It’s hard to predict what will happen in five years, but real estate analytics can offer a little bit of guidance.
You also have to think about maintenance, taxes and other fees associated with homeownership. If you drive your monthly cost much higher than what you’re currently paying in rent, you could end up with crippling debt. Conversely, if you get a good mortgage and have the time and money to deal with owning a home, you could end up with a good piece of real estate to either rent or sell down the road.
What’s most important is that you don’t take on a bunch of debt for a house you’re not planning to immediately rent or sell. Buy a home because you can afford it and have a plan for its future use, not because you love the idea of owning instead of renting. If you crunch all the numbers and feel like your finances are stable and you’re investing in a good property, go for it. But make sure you aren’t leaving lots of variables unaccounted for that will sneak up and bite you later. Good luck!
It all depends on what you're looking to get out of your advisement. If you're new to investing and have lots of questions, a robo advisor probably won't give you the detailed information you might need. If you have a good strategy and just need to make your dollar go as far as possible, an automated service could be the perfect solution.
Whether you go with a live advisor or a virtual option doesn't really depend on the types of funds you're investing in, as you should be able to get whatever you want through either type of service. That's what's most important - make sure your advisor, flesh and blood or otherwise, can help you meet your personal goals and invest your dollars as you see fit. If a robo advisor can do that for less money than a real person, feel free to go with that option. If the robot isn't able to meet your needs, find a person who can.