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.
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.
I wouldn’t say it’s a good idea, but in some cases it’s worth exploring.
The best way to answer this is to think about what’s going to happen next. By taking a massive tax penalty and losing your retirement savings, are you going to kill off your debt, stay out of debt and immediately start rebuilding your 401(k)? Or will this be a partial fix that doesn’t actually solve your problems and just ends up being a setback?
If your credit card debt is significant enough that you can’t afford the minimum payments and the interest just keeps piling up, you need to do something about it. Drawing from a retirement account should always be your last resort; if you can pay down your debt while continuing to save, you’ll eventually reach a turning point where the debt is going down faster and your savings are working for you. Can you cut corners elsewhere? Spend less, trade in your car for a cheaper model, look for a second job? All of those options are preferable to spending your savings and absorbing a 10% penalty.
If there’s nothing else you can do and you’re headed toward collection calls and even harder times, you can think about drawing from your 401(k). Just remember, if you go this route, you have to work even harder to save and avoid falling back into debt. Good luck!
There’s something to be said for upgrading your vehicle when you find a good deal - that can definitely help with your long-term planning if you get a car that’s going to last.
That said, it’s usually not wise to spend more on a car when you A) still have a car that works, and B) have other debts to pay off. I know it's hard to pass up a good bargain, but you’ll be better off if you focus on paying down those students loans. Having a newer vehicle might relieve a modicum of stress, but it’s nothing compared to what you’ll feel when those loans are gone.
Your budgeting seems solid and you seem to have a good grasp of your financial situation. Get as many years as possible out of that Scion, keep focusing on your debt, and you’ll be in great shape.
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!
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!