Enso Wealth Management
Daren Blonski, co-founder of Enso Wealth Management, brings years of experience and expertise to the firm. As a CERTIFIED FINANCIAL PLANNER™ he has met rigorous professional standards while adhering to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence. Daren serves as lead advisor for many of the firms clients.
Daren has a client centered approach to investing, working with clients to simplify the road to achieving their financial goals. He takes the time necessary to clarify goals, construct a strategy to achieve those goals, and support clients through education, listening, and guidance. The highlight of his job is the joy clients experience when they reach financial fulfillment.
Daren has become an expert in his field with multiple financial designations including Chartered Retirement Plans Specialist℠ (CRPS®), and Chartered Retirement Planning Counselor℠ CRPC®. Clients value his fresh and creative approach to problem solving.
In his free time, Daren enjoys Crossfit. He is active in the community with his beautiful wife and three children.
I do not suggest you invest your emergency money in anything with risk in it. Put it in the bank and leave it in cash. Just accept that its your 'sleep good at night' money.
There are many options for you. Here are a few items I would consider if I were in your position. I would want the following:
1. Low cost
The key with investing is starting and staying consistent. Nice work on getting started. Make a goal for yourself each year to save, and grow your investments. Build a diversified investment portfolio. Don’t take too much risk, that you chance losing it all.
Daren Blonski, CFP®
707 938 7414
This is a really important question. Answering this question prior to understanding your full financial situation would be putting the “cart before the horse.” The are many considerations that go into making a decision on someone’s investment allocations. When you say ‘protect’ and ‘grow’ in the same sentence, you begin to work at potentially a cross purpose for the money. Or you will have to look at the pot of money as two separate pots. But you need to be careful when you say the word protect, because this word will often provide a ‘gold platter’ for an insurance sales person to sell you an annuity.
I think that it’s important that you find an independent fee-only advisor and have them review your options with you. Consider first putting in a financial plan, prior to making investment allocation decisions.
A word of caution: I would not go to a broker and have them review with you. If you are going to a bank, or a large institution to talk with an advisor, you are likely talking to a broker. If your talking to a person that works FOR any large institution, be careful.
Daren Blonski, CFP®
707 938 7414
There are many possible explanations as to why your assets in your mutual funds are not increasing. Some items to consider:
1. Have you invested your money with a broker, and are they taking a large commission each time you invest? If this is the case, your starting in a deficit, because the upfront commissions you might be paying.
2. The mutual funds you are invested in are not performing as expected. In which case your options should be reviewed. The market has been doing well as of late, perhaps your not invested as you thought you were. Seeking the advice of a fee-only fiduciary might be helpful to make sure you are invested appropriately.
I am going to come straight over the bow on this one and say rarely is a Tax Deferred Variable Annuity a good solution. I suggest them in two cases. One, the person investing does not have the 'capacity' to understand investing but will at some point down-the-road need a stream of income. Two, I will suggest it when the person investing wants to grow their money but has almost zero emotional resilience for risk. When I do reccomend them I send teh client to someone else to buy it. Keep in mind, anytime you give an insurance company your money and in exchange they are 'guaranteeing' anything, you will pay for it. The rule of thumb is if you defer risk you pay for it.
I would highly recommend that not only do you go seek another opinion about what you should do with your $200k, but I would also go talk with a fee-only advisor who is not compensated to sell financial products and services. I don't know this is the case with your advisor, but I highly suspect the recommendation is more motivated by the commission check he or she will receive. It has less to do with what is right for you.