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.
Two important things for you to consider: how much are you expecting to pay for school, and what are your upcoming career objectives? You can do a lot with $20,000, but you need to be prepared for the expenditures that come with an education and life in general.
If you’re planning on going to a community college, or you have a scholarship that will cover most of your tuition, I’d get as much of your savings as possible into a high-yield account (preferably one with minimal fees), and potentially start contributing to an investment account. If you need to dip into those savings to pay for school, you should keep the money in an account with a decent yield and even more limited fees.
Once you graduate, you need to have enough money to support yourself until you start working. It’s always important to have that three-to-six month safety net, but it’s especially important for recent graduates trying to jumpstart a career. Until your income is steady, you’ll want to keep a good portion of your savings liquid instead of investing.
If you can maintain most of that $20K, go to school and continue saving some of your disability money, then you should look into moving about half of those funds into an investment account. I’d suggest going with Betterment - simple setup, trustworthy advice, and very reasonable rates.
You’re in a good situation financially, just make sure to keep the big picture in mind as you start moving your money around. Good luck and enjoy school!
The best way of knowing if you’re overspending is to set up a detailed budget. Savings goals and immediate obligations are often at odds with one another - yes, you need to have money for retirement, but you also need to eat food now. Knowing whether you should cut back on dining out depends on how much money you have left over after you’ve budgeted for saving and necessary expenses.
Everyone has their own system for tracking money and staying organized, so do what works for you. If you don’t already have a method, look into an online budgeting tool that will help you get organized. YNAB, Mint, Quicken and other companies can help you establish a budget and prioritize your dollars so you don’t spend too frivolously. This will make it much easier to ensure you cover immediate expenses, maintain your emergency fund and avoid going into debt.
With $11,000 in savings, it doesn’t seem like you’re overspending. If you can keep growing your savings and investment accounts while paying down your credit card each month, you’ll be in great shape. Once you’ve spent a little time working on a budget and allocating your funds appropriately, I think you’ll get a much better idea of whether or not you need to adjust your spending habits.
Advisors only make money because investors pay for their advice. If you’re working with someone who charges you fees and won’t be 100% transparent, it’s time to hit the road.
Of course, there’s more to it than just leaving and going someone else; your personal experience is proof that finding the perfect financial manager isn’t the easiest thing to do. You need an advisor who not only understands the markets, but also knows your goals and how best to help you. It’s always best if you can work with someone you know and trust. If you don’t have a personal connection, talk to friends and family - people in similar situations to your own - and see if they have an advisor they can vouch for.
You don’t NEED a financial advisor. We can be very helpful and provide a valuable service, but money managers and advisors aren’t the only path to financial success. You should only pay for the services of someone who is honest, who explains what they’re doing with your investments and why they’re taking those actions. It’s your money, so you should feel like it’s being cared for properly.
I’ve worked with a lot of people on figuring out childcare expenses, and every case is different. Because costs and circumstances vary so much on this issue, there isn’t a budget model that’s guaranteed to help in your situation.
My advice would be to step away from the statistics and percentages for a minute and exhaust every option for reducing your spending. It seems like you have your finances in order and earn a good living, so you don’t need to panic if you can’t find an immediate solution. If there isn’t a cheaper care provider, maybe you can work from home one or two days a week and save that way. Your company might have a hardship program, or you might be able to put a portion of your paycheck into a tax-free fund that goes toward childcare. There could be a non-profit organization with scholarship funds available for your child that could at least ease the burden a little.
You probably won’t find a quick and easy way to cut back on childcare expenses (aside from your kids becoming adults). However, if you commit to looking for ways to save, you can adjust those percentages a little and kick a few extra dollars toward saving each month. If you start by trying to get that budget percentage from 16 down to 15, that could open some doors and show you even more ways to save. Good luck!
The annoying response is, “it depends,” but the best answer is investing.
No investment is a sure bet, but long-term stock market returns almost always win out over what you’ll get from day trading. In addition to the immediate and substantial risk, you end up losing a lot more of your investing money by way of transaction fees. You might see eight bucks as a drop in the bucket, but as those charges add up - and if you aren’t getting consistent returns on your trades - the difference between what you’ll bring in day trading and what you’d make with long-term investments will be very stark.
As far as generating income, that won’t happen with long-term positions in the same way it theoretically could happen with successful day trading. If this is about getting money now, I think you’d be better off sponsoring quality loans or investing in a rental property that could generate monthly income; real estate has the potential to meet both your long- and short-term earnings goals. It all depends on what you have to invest and what your objectives are. As far as getting the most out of your dollars, I’d stick with the investments over the risky trading. You can certainly get guidance from a financial advisor, but if you stick with industries you understand and buy shares of companies you're comfortable with, you should be able to do fairly well on your own.