Levi Sanchez

Personal Finance, Retirement, Lifestage Based Planning
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“As the co-founder of Millennial Wealth, Levi Sanchez primarily works with young professionals in the tech industry, assisting with student loan repayment strategies, tax planning, employee benefits optimization, and cash flow/debt management.”
Firm:

Millennial Wealth

Job Title:

Co-Founder

Biography:

Levi Sanchez worked in the Wealth Management industry for 3 years at Merrill Lynch as a junior adviser for a team managing nearly half a billion in personal assets. In May of 2017, he decided to depart the wirehouse world and begin his journey to launching an RIA focused on young professionals, whose financial futures can be shaped now. Having control over his own fee structure and marketing techniques would allow Levi to pursue his goal of helping his generation solve their financial problems and build a better future.

The lack of financial education throughout all generations has always been a weakness in our educational system. Making matters worse, the industry caters to individuals with significant wealth over people with little assets in comparison. The end result, on average, young adults don’t establish healthy saving, investing, and debt management habits. Even though that’s the best possible time for these habits to be learned. Therefore, Levi decided to leave the business and start the journey towards launching Millennial Wealth and tackling his goal of educating, investing, and planning for his peer’s futures.

Levi grew up in Eastern Washington and attended Washington State University. He's always had a passion for investing and learning about money. In his free time, he enjoys playing golf, basketball and watching the latest shows on Netflix.

Fee Structure:

Monthly
Asset-Based

CRD Number:

6342619

Disclaimer:

Millennial Wealth is an Investment Adviser registered with the State of Washington. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. We do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. The information provided is subject to change without notice.

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3 days ago
    Financial Planning, Personal Finance, Retirement Savings

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    College Tuition, Mutual Funds, Stocks
Are there funds (other than 529 Plans) for college education costs where I can deposit money regularly and purchase stocks without incurring fees?
100% of people found this answer helpful

You are correct, a 529 plan would only allow for money to be used for qualified education expenses, otherwise, a 10% penalty is assessed on the withdrawal amount. One interesting note, however, is 529 withdrawals aren't assessed the penalty if the beneficiary receives a scholarship. 

If you'd like your daughter to have the flexibility to spend the money on other things, not just for her education, you should consider a custodial account such as an UTMA/UGMA. A custodial account would allow you to retain control until the age of majority (depending on state 18 or 21 typically), at which time she will receive full control. This type of account would allow you to select investments such as a low-cost index fund. I would suggest looking at Vanguard, you can also open a custodial account directly through them. 

I do advise you to understand that this account gives your daughter FULL control at the age of majority. Unfortunately, most individuals aren't financially savvy at that age since financial literacy isn't taught in school. Open communication regarding the intention of the account and responsibility is key. 

Best,

6 days ago
    Retirement, 401(k), IRAs
If I transfer Roth 401(k) funds to a Roth IRA, are they subject to required minimum distributions at 70.5 years old?
67% of people found this answer helpful
3 weeks ago
    Retirement, IRAs
Should I roll over the funds in my 403(b) account to an IRA?
67% of people found this answer helpful
2 weeks ago
    College Tuition, Taxes
What are the tax benefits of putting a lump sum of $20,000 into a 529 plan every year to help our daughter with school tuition?
67% of people found this answer helpful
3 weeks ago
    Debt, Personal Finance
How should we split our funds between a savings account, brokerage account, and car loan?
57% of people found this answer helpful
4 weeks ago