Millennium Planning

Millennium Planning Your financial future shouldn't be a mystery. Know the road ahead, see your options, and feel good

Millennium Planning is a financial advisory firm built on unbiased advice, transparent pricing, and meaningful relationships. We provide personalized and actionable strategies to clients who care about their financial future and want to plan for it now. We promise to learn your story, your challenges, what you hope to get out of life – and what your money needs to do to carry you through it all. W

e live to serve our clients and our communities with humor + humility. Registered associates of Millennium Planning are registered representatives of Lincoln Financial Securities Corp. Investments and advisory services offered through Lincoln Financial Securities Corp., a broker-dealer, member SIPC, and registered investment advisor. Millennium Planning is not an affiliate of Lincoln Financial Securities.

My career started 18 years ago in South Florida where every advisor was targeting retirees.I wasn't able to help my own ...
05/10/2023

My career started 18 years ago in South Florida where every advisor was targeting retirees.

I wasn't able to help my own generation because the industry lacked the tools and resources to best support a generation of that maybe lacked financial resources, but not financial goals.

Things are different today, and Millennials are garnering a lot of attention from the financial advisory industry.

At the same time, I've noticed many advisors are not equipped to work with young(er) clients.

Here's what I've learned -

Millennials ask questions, many questions. We've done our research and we're looking for a professional to help us sort through the noise of information.

Millennials want tech that supports, but not replaces the personal relationship. We grew up with technology and get enough of it. We deeply value personal relationships and want to feel heard.

Millennials don't understand the term retirement. Working for 40 years and then not working for 20 is not a priority. Most of us want to save towards a level of financial security that can help us live out a healthy work/life balance and be productive for our entire lives.

Millennials want transparency. We want to know exactly what things cost, why, and what we can expect in return. Any hint or discovery of a hidden fee somewhere along the line is an immediate red flag and will cause irreparable harm to the relationship.

Millennials want to communicate when they're ready. Having a preset annual or semi-annual review schedule doesn't work. We want an open line of communication and to access our advisors through multiple channels throughout the year as we run into new ideas, financial concerns, and life changes.

Many of us partake in a little spring cleaning of our house about this time.But what about our financial homes?It can b...
04/11/2023

Many of us partake in a little spring cleaning of our house about this time.

But what about our financial homes?

It can be easy to forget about the clutter that builds up in our finances.

Financial clutter can waste our energy, time, and even money. It can add to stress and distract us from important goals.

If you're feeling a bit overwhelmed with your finances or just looking for a few ways to better optimize, talking to a trusted financial professional can help.

Getting and keeping people organized and on track financially is what we do every day.

To many people I talk to are locked into thinking financial success is binary - either you've achieved it, or you haven'...
03/21/2023

To many people I talk to are locked into thinking financial success is binary - either you've achieved it, or you haven't.

If I can only save....

When I reach...

I need my accounts at...

Not until...

In reality, financial success can happen now, today.

It's in the daily financial decision making, the monthly savings, the ongoing contributions, the rebalancing, the debt reductions, and the small wins.

Don't set yourself up for failure by measuring your finances against how far away a future goal is.

Look back.

Check your progress. See how far you've come.

Is a recession coming? Who knows...I can see data that would point to either a yes or no.But what if when a recession hi...
03/16/2023

Is a recession coming?

Who knows...I can see data that would point to either a yes or no.

But what if when a recession hit you felt like an excited kid on your birthday?

You wait impatiently for the day you receive a financial gift — the headlines read, "We’ve had the biggest drop in the last 10 years."

When the economy becomes unpredictable, are you nervous your investments are too combustible?

Or do you get a little excited?

If you're under 45, you should generally be more excited than nervous.

You may be in the perfect position to stop surviving recessions and start thriving financially…

Many investors can’t let their guard down when news headlines scream:

“A huge market drop!”

“Highest inflation in decades!”

“Interest rates just went up again!”

Or when friends, colleagues, and family keep worrying about how much their accounts have dropped.

When the market pendulum is in full swing, prepared Americans take advantage of the opportunities that may arise.

The SECURE 2.0 Act is bringing with it a number of changes designed to strengthen your long-term financial plan and add ...
01/19/2023

The SECURE 2.0 Act is bringing with it a number of changes designed to strengthen your long-term financial plan and add new options for savers.

Here's a shortlist of the biggest items as I see them that may affect most people -

401k Matching for Roth Accounts - Employers now have the option to make matching contributions into employees’ designated Roth accounts. Please note that these contributions are taxable to employees and cannot be subject to a vesting schedule. However, they are able to grow tax-free similar to other Roth accounts. Retirement plans may need to make administrative updates to account for this.

Student Loan Debt Matching - Employers can 'match' employee student loan payments to the retirement plan account.

529 Plans - After 15 years, 529 plan assets can be rolled over to a Roth IRA for the beneficiary, subject to annual Roth contribution limits and an aggregate lifetime limit of $35,000.

New exceptions to the penalty for pre-59½ withdrawals.

Required minimum distribution (RMD) age increases from 72 to 73.

Now may be a good time to revisit your financial plan to see how these comprehensive changes may impact your strategy.

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https://bit.ly/3XKqbMC

Know what you own.Too many people have little to no idea what financial accounts they really have, how they work, what t...
01/13/2023

Know what you own.

Too many people have little to no idea what financial accounts they really have, how they work, what they cost, or even why they have them.

The beginning of the year is a great time to take a financial inventory.

Achieving long-term goals or working towards financial independence is exceedingly challenging without a strong understanding of where you are now, today.

Pull statements. Check fees. Shop around. Organize files. Consolidate where it makes sense. Asses strategy.

Walking into a freshly decluttered and organized home is a wonderful feeling.

Your personal finances should evoke the same reaction.

We were hoping that tamer inflation would cause the Federal Reserve to pull back on its interest rate hikes.Unfortunatel...
09/30/2022

We were hoping that tamer inflation would cause the Federal Reserve to pull back on its interest rate hikes.

Unfortunately, the hot inflation data means the Fed is likely to continue aggressive rate hikes in the months to come, spooking investors who expected a pivot away from higher rates.

When the Fed sets higher interest rates, it increases the cost of credit across the entire economy, making mortgages, car loans, credit cards, business financing, etc. more expensive.

Investors worry that those higher rates will slow the economy (and maybe tip it into recession) and ding company performance.

What could be the longer-term impact of rate hikes?

Whenever we want to understand what could happen, it's useful to go back in time and take a look at what’s happened before. While the past can't predict the future, it's often a useful guide.

An analysis of 12 previous rate hike cycles shows that, overall, equity markets handled tightening reasonably well. Across these cycles, the S&P 500 averaged a total return (including interest, dividends, etc.) of 9.4%.

I think more volatility is definitely in the cards in the days and weeks ahead. As investors digest the Fed decision, economic data, and Q3 corporate earnings, we’re going to see some reactions, positive and negative.

However, I don’t think it’ll all be gloom and doom. I think markets are overreacting and forgetting that there’s a lot of uncertainty and margin for error in economic data.



Source: Truist IAG, Morningstar, Haver

If the last 50 years of stock market data is anything to go by, the 12 months following a low point in consumer confiden...
09/26/2022

If the last 50 years of stock market data is anything to go by, the 12 months following a low point in consumer confidence (where we are now) have historically been favorable.

Goes without saying, but much has changed in the economic, stock market, and personal finance landscape over the last 12 months.

If you haven't had your plan or strategy updated to reflect the current reality, you may be missing out on key improvements or necessary changes.

Talk with a trusted financial professional about what makes sense for your personal circumstances and what changes may be warranted.



source: https://bit.ly/3fnzAsx

How do you feel when you hear the word “recession?”Do you instantly feel a pit of anxiety in your stomach?Do you immedia...
09/01/2022

How do you feel when you hear the word “recession?”

Do you instantly feel a pit of anxiety in your stomach?

Do you immediately check the stock market only to end up feeling overwhelmed?

OR

Do you go about your day without worrying about your investments?

Every dollar represents moments of your life you have spent working hard to save for a specific goal close to your heart.

If you’re not financially confident and ready for the next recession, you’re playing a high-stakes game investors rarely win.

Financial Independence = freedom and accomplishment.

Significant market corrections can strike at any time (not just during a recession).

When we’re emotional, we make more high-risk decisions.

Making the wrong move could accidentally cause heart-breaking ripple effects like:

- Pushing back your retirement date
- Not taking the vacation you saved diligently for over the last two years
- Not sending your kids to the college they deserve

Many financial professionals don’t even make big financial decisions without bouncing it around with another pro first. We use other industry pros as a sounding board to get an objective opinion.

When a recession hits and all the goals you hold close to your heart are at risk, emotions can cloud every decision. Panic sets in (even if you don’t see it), and investors risk taking emotionally influenced, high-stakes actions they may regret.

Most advisors offer no-cost consultations. Now may be a good time to schedule one.

Feeling any uneasiness with your retirement and investment accounts?Even though the market has shown flashes of recovery...
08/12/2022

Feeling any uneasiness with your retirement and investment accounts?

Even though the market has shown flashes of recovery, we’re still facing what could be months of uncertainty as investors grapple with fear and worry.

Bear markets are frequently a time of missed opportunities and avoidable mistakes. Here's three insights to help you make the best out our current environment.

Number One - Selling after the correction. A market downturn means that overall prices have dropped.

Average investors often give in to panic and can hurt their prospects by buying during a bull market and selling during a bear.

Number Two - Using the buying opportunity. With prices depressed, now may be a good time to invest. Many investors do the opposite, sitting on the sidelines out of fear. That’s usually a mistake, as it’s impossible to perfectly time the bottom.

Missing the ride back up can really hurt your long-term portfolio. Don’t sit on the sidelines.

Number Three - Learning the lesson of overconfidence. We’ve had years of a roaring bull market, making everyone look like a genius.

I think Warren Buffett said it best: Only when the tide goes out do you discover who's been swimming naked.

Now is an opportunity to remember that all bull markets come to an end, all prices eventually normalize, and no one can predict the future.

The reason you work with a professional to look after your financial life is so you can share your concerns and have someone help you take action when it makes sense (friendly reminder sometimes no action is the right decision).

Quick Pro Tip: if you win the lottery, DON'T tell a soul - except for the attorney who will accept the winnings as a pro...
08/02/2022

Quick Pro Tip: if you win the lottery, DON'T tell a soul - except for the attorney who will accept the winnings as a proxy if the state allows.

It's not just lottery winners who can use trusted financial advice.

Whether you received an unexpected windfall, starting from zero (or less than zero), or just dealing with the mild ongoing stress of daily financial decision making, a conversation with a qualified and trusted advisor should be insightful...and worth your time!

There's very few situations an experienced trusted pro can't look into and generate a few ideas and insights to move you into a more favorable long-term financial position.

It doesn't cost to have a conversation.

Address

4000 Westchase Boulevard, Suite 300
Raleigh, NC
27607

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Tuesday 9am - 4pm
Wednesday 9am - 4pm
Thursday 9am - 4pm
Friday 10am - 4pm

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+19193900188

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