Endowment Wealth Management, Inc
John is a Wealth Advisor within the Family Wealth Management area of the Company. He is the first point of contact for our prospective clients, conducting introductory meetings with clients to discuss their family dynamic and wealth management needs. John assumes the role of the client family’s Chief Financial Officer and coordinates with the client’s current professionals (i.e. attorney, tax accountant, stockbroker, insurance agent) to provide an integrated wealth management plan and investment solution that is custom tailored to meet each client’s specific needs.
John began his career at Merrill Lynch as an advisor assistant, serving the needs of families & small business owners. He was the founder of Vision Wealth Partners, a Wisconsin registered investment advisor and has been helping families and small-business owners with financial planning and investment management since 2011. His writing has been featured on CNBC, Yahoo! Finance, U.S. News and MyCompanyRetirementPlan.com.
John received his Bachelor’s Degree from St. Norbert College majoring in Finance. He earned his Certified Financial Planner (CFP®) in 2017.
BBA, Finance, St. Norbert College
Assets Under Management:
Do you have any additional debts (credit card, car loans, student loans, etc?) If so you are better off paying those debts off before you think about purchasing a home. But let's assume you're debt-free. You don't HAVE to have a mortgage that is 30-35% of your net pay. In fact, the goal eventually should be near 0% (paid off!) My opinion is that it would be more irresponsible to purchase a home with other debts, or purchasing more home than you can afford, than it would be to suspend 401(k) contributions for a short time to save up a larger down payment.
There are a lot of answers here, but I will opine. A fee-based fiduciary advisor is a must, because you can ensure you're not getting sold an investment or insurance product. You should then consider experience, credentials (CFP, CPA, CFA, etc) and investment philosophy. Your fiduciary advisor should be the quarterback of your advisory team and work together with your CPA, estate attorney, insurance agent and other professionals. Before investing or rolling any of your accounts there should be a thorough analysis and plan completed. We develop a Wealth Plan for all new clients before they hire us to manage investments. The Wealth Plan covers debt reduction, tax reduction strategies, investment risk profiling, investment allocation, retirement income planning, social security planning, estate planning, long-term care planning, and more. It's thorough!
It's been my experience that all the clients I have come across who were federal employees have done a great job of saving. Given the fact that your income's will drop you to the lowest tax brackets, you will want to consider strategies to mitigate taxes both currently and down the road. This includes an analysis of the possibility of moving money from pre-tax IRA accounts to either personal or Roth IRA accounts to take advantage of the lower brackets. Hope this helps. Feel welcome to ask additional questions.
John Weninger, CFP®
Endowment Wealth Management
Why are you looking to go into debt? Generally speaking, for most individuals, going into debt is not condusive to building wealth. If you have your home paid off you should have great monthly cash-flow available to save up quickly for purchases or investments. Best of luck!
Your personal allocation will be tailored to your specific risk profile and goals. We recommend the Endowment Investment Philosophy™, which is how large universities and endowments such as Yale & Harvard, invest. The 3-dimensional approach includes not only global equity and global fixed income, but also real assets, private equity and hedge funds. These investments offer extra opportunities for growth, as well as a buffer to traditional equity market volatility. You can learn more about the Endowment Investment Philosophy™ here. I would enjoy the opportunity to discuss further.
$0. When you pay off the credit card debt and student loan debt, you are in fact, earning a guaranteed rate of return on the interest you otherwise would have paid. Brokers may tell you otherwise, but don't listen. Aggressively pay off the debt and free up those monthly payments so you reduce your risk (in case of a lost job, emergency, etc.), build up an emergency fund and THEN begin your retirement investing. Best of luck!