David Michael Howard

Retirement, Investing, Taxes
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“As a Financial Advisor and Portfolio Manager at Simasko Financial, David Michael Howard is committed to assisting his clients with their financial needs, while providing the central focus of personal attention and service.”
Firm:

Simasko Financial

Job Title:

Financial Advisor and Portfolio Manager

Biography:

As an Independent Financial Advisor, David Michael Howard sits down with clients and prepare a plan that is in-line with their legal plan. David and his team focus on conservative investments at Simasko Financial, focusing on investments that preserve their clients' wealth with opportunity to accrue wealth.

David strives to provide clients with a wealth of information in the form of education on financial products and our services, calculators, and research reports. His specialty is to help clients better understand retirement planning and how he can make it easy to understand how they can protect their hard-earned assets.

David and his team have portfolios' developed for each type of client based on their level of risk; ranging from Income Preservation, Balanced Income, Balanced Growth, Growth, and Aggressive Growth. These portfolios are constantly updated to adapt to rapidly changing economical environment. Although they specialize in the elder community, they also provide financial guidance to prospective clients in all phases of their careers, and retirements.

David Michael Howard graduated from Central Michigan University with a Bachelors of Science in Business Administration, concentration in finance and economics, with distinction. David holds a Series 7, 63, and 65 license, and is a RIA in MI, IL, TX, AL.

Education:

BS, Finance & Economics, Central Michigan University

Assets Under Management:

$50 million

Fee Structure:

Fixed
Asset-Based

CRD Number:

6239690

All Answers
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    Retirement, Real Estate
I have $850,000 in retirement savings and a remaining mortgage of $380,000; should I stop contributing to my four retirement accounts and pay down my mortgage?
67% of people found this answer helpful

Great question. There are several variables that, because of a lack of information, I am going to omitt so I may focus on the most important factor between investing and paying off debt. I cannot answer this in full because I do not know your interest rate, nor your rate of return on the investment accounts. But conceptually, if you are earning (or projecting to earn) a higher rate of return on equity, it does not make fiscal sense to pay off debt if the interest rate on debt is lower. For example, if your retirement account has averaged 8% over the past 10 years (Which the S&P has averaged, inculding the recession of '08) and your mortgage is only 4.25%, it does not make sense to pay off additional mortgage, as your time value of money has you losing out on a 3.75% opportunity cost. Inversely, if your investments comprise of only certificates of deposit at the bank, paying 2.75% for a 5 year, it would make more sense to pay off debt, as it is costing you 1.5% annually over the rate of return you would earn. To conculde, as you are only 48 years old, it would make more sense in my opinion to continue to contribute to your retirement accounts, and invest for long term diversification. If you get to the point where you have maxed out contribution limits, you may then look at paying off debt. 

I would advise you team up with a financial planner to discuss your situation in greater deatil. I hope this helped!

 

Regards, 

 

David Michael Howard

Financial Advisor 

TD Ameritrade 

February 2018
    IRAs
When moving your IRA to a different fund, are there other factors to consider besides the rate of return?
50% of people found this answer helpful
February 2018
    Personal Finance, Investing, Peri-Retirement
Will investing in index funds protect me against paying too many fees?
33% of people found this answer helpful
May 2017
    Choosing an Advisor
What book influenced you the most as a financial advisor?
33% of people found this answer helpful
February 2018
    Investing, Asset Allocation, IRAs
How should I factor in commissions and fees when diversifying my Roth IRA?
25% of people found this answer helpful
March 2017