Three Investing Mistakes To Avoid

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you haven't invested before, then we know how tricky it can be to get started - which stocks and bonds should you be looking into? What exactly is the difference between stocks and bonds to begin with? Not only that, but how much should you consider investing? Although the answers to most investing questions will differ depending on your current financial situation and future financial goals and aspirations, the one thing we all have in common is the potential to make a mistake and take an incorrect approach.

Since we know how important it is for investors to make the right decisions the first time around to avoid a sticky situation down the line, we put together the following list of three mistakes to avoid:

Failure To Plan: Whatever the reason may be, all too often people dive into the investment process without having a plan. While this may work for individuals who aren't phased by the idea of losing money, for those who would prefer to keep their wallet full, it's essential that a plan is devised prior to making any decisions. By developing a strategy in advance (which of course requires research and possibly even a trip to a financial advisor such as ourselves), you can begin to guide yourself to the specific types of investments that you expect will bring you the best return.

Living In The Past: If you have family members or friends who have invested before and experienced great success, it's only natural to try and reproduce the results they received by making the same decisions they did. However, attempting to "chase past performance," as Fox Business puts it, could put you behind since you aren't focusing on the new opportunities that are in front of you.

No Diversity: Although a specific company, for example, may be predicted to soar, that doesn't necessarily mean you should invest all of your money in them. After all, if the company took a turn for the worst, so would your money! In order to truly get the most out of your experience, it's important to allocate your money across several investments rather than focus solely on one.

By keeping these three mistakes in mind during your investment journey (and by avoiding them, of course) you can rest assured knowing that you are on the right path! But, like we said, investing can be tricky, which is why you should always meet with a financial advisor to ensure that the strategy and approach you are using is right for you!

If you're ready to get started with the investment process, contact us at (516) 932-5130 today; our team of financial planning professionals have years of experience with investing and can help steer you in the right direction with all of your investment and financial needs.

Three Ways To Save Money In The Summer

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Although the first official day of summer hasn't arrived yet, many view this past weekend's Memorial Day events as the "unofficial" start of the summer season. Knowing that, and knowing how easy it can be to spend money during the summer months on outdoor events, travel and more (not to mention how much it costs to keep cool in your home alone), we thought it would be a good idea to share a few tips and tricks on how to save during one of the most anticipated seasons of the year; check out a few of our favorites below:

1. Utilize Windows and Ceiling Fans: It's only natural to turn on your air conditioner on days when the heat is unbearable, but what about those days where it seems to be cooler outside than it is in your home? Whenever possible, open your windows and use ceiling fans to circulate cool air throughout each room rather than crank up the A/C - this can be an especially good practice on cool nights so that your cooling unit isn't running for hours on end, eating up all of your home's energy! 
2. Replace and Clean Air Filters: When was the last time you cleaned or changed your air conditioner's filter? Since air filters play a huge role in maximizing the efficiency of a cooling unit (and therefore are ultimately a contributing factor to your utility bills), it's important to pay close attention to how often you perform maintenance on them. All too often, homeowners forget to clean and/or change their filters when needed, and in the end, their wallet pays the price! Every month or so, be sure to check on yours to make sure it isn't prohibiting air flow and clean or change when necessary.
3. Let Your Clothes Dry Naturally: Using your dryer may be convenient, but it is also a major source of energy consumption! This summer, consider taking your clothes outdoors after they're done in the washing machine to let the summer sun take care of the drying process. By minimizing the use of an appliance as big as your dryer, you can easily save a few bucks here and there!

By making small adjustments to your everyday routines, it can be relatively simple to start saving for all of your summer events and activities! Which of the above will you start with first? Be sure to visit us on our Facebook page to let us know, and don't forget to share any other ways that you plan to save over the next few months!

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Financial Topics New Homeowners Must Consider

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Before buying a new home, one of the biggest concerns and deciding factors for homeowners is likely the cost - what type of down payment is required? How will interest rates affect the mortgage in the years to come? Though these are pressing questions that must be considered before making any deals and receiving the keys, there are several other financial topics that need to be addressed, even though they may not be the first thing that comes to mind during the buying and selling process.

If part of your plans for 2015 include becoming a first time homeowner, we want your experience to be a smooth one. That's why we've put together the following list of things all new homeowners must take into consideration as they get ready to buy a home:

Paperwork: Like most other large purchases, buying a home requires lots of paperwork to be filled out. However, in this case, there are often fees attached for doing so. For example, while you might be prepared to pay for your mortgage each month, you must also be prepared to pay for any fees that come with applying for the mortgage. Additionally, the act of processing papers for the sale of the home, including documents such as deeds and titles, also requires costs and must be accounted for when budgeting.

Improvements: As you tour potential homes to determine which is right for you, it's likely that there will be bits and pieces of each that you want to tweak in order to give your home the personality and style you always hoped it would have. But, though they may be minor, it's important to realize that even small improvements here and there will start to add up. When working on budget, it's essential that all new homeowners factor in the potential for improvements, including those that may come as a surprise during the home inspection or shortly after moving in.

Inspections: Speaking of improvements and more specifically, the home inspection, keep in mind that having an inspector come to the home is an added cost as well. Although everything might look safe and secure in your eyes, there may be serious damage elsewhere that only a professional can detect. Since the inspection is such an important part of the process, and ultimately the part that determines whether or not the home is move in ready (or livable for that matter), a good portion of your initial budget should be dedicated to it.

In addition to the above, you must also always expect the unexpected and make room for hidden or last minute costs - when it comes to buying a home, anything is possible!

At American Investment Planners LLC, we know what an expense a home is, and we also know what an investment it is! Which brings us to our next point - did you know that we specialize in all types of financial planning to help clients protect their assets and investments? For more information about our wide variety of financial planning services, please visit us at www.americaninvestmentplanners.com or give us a call at (516) 932-5130 today.

Meet Jessica Bach: Wealth Management Services

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

At American Investment Planners LLC, we work as a cohesive unit to develop and deliver the most beneficial solutions to each of our clients. We pride ourselves on the fact that our firm is built on a group effort, and since it is so, we invite you to become a part of our team by getting to know each of our experts individually. Today, we would like to feature Jessica Bach, who handles Wealth Management Services!

Jessica first joined the American Investment Planners LLC team in 1999, when she began working for Lee Rosenberg as a Client Services Manager. While in this position, she had the opportunity to develop her organizational skills by working closely with clients to ensure that they fully understood the connection between their investment strategies and their overall financial security.

In 2011, however, Jessica stepped into a new role at American Investment Planners LLC. Now, Jessica works with clients on asset managed accounts - that means she takes the client's financial objectives and integrates them with a customized (and of course, managed) portfolio. 

When asking Jessica what she enjoys most about this role, she explains that she looks forward to always meeting new clients and assisting them with all facets of the financial planning process; from setting up the accounts to the final financial plan, Jessica is involved in it all. 

But what is Jessica up to when she isn't busy assisting clients with the management of their portfolios? In her spare time, Jessica enjoys going to the theatre and various musical concerts.  She can also be found relaxing in Rockville Centre with her dog, Fred!

Here at American Investment Planners LLC, we are extremely grateful to have Jessica back on our team. We truly appreciate her dedication to her role and are so thankful for all of the effort she puts in day in and day out!

For more information about Jessica Bach, check out her employee bio on our website!

The Benefits Of A Roth IRA Account

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

What is the first type of savings plan that you think of when you hear the word "retirement?" If you're in the working world, we bet that a 401(k) is usually one of your first thoughts. After all, as a type of account that is often available to employees and highly recommended, 401(k)s are certainly a savings strategy that should not be ignored when given the opportunity to participate in one. 

But what about other means of saving? Have you ever given any thought to a Roth IRA? By definition, Roth IRAs are nondeductible IRA accounts that allow tax-free withdrawals when certain conditions are met (income and contribution limits apply). And aside from the fact that they permit withdrawals on a tax free basis, these accounts also offer tons of flexibility, easier access to money, and allow you to leave money behind without penalties. Now let's look at these benefits more in depth:

Flexibility: After reaching 70 1/2 years of age, retirees are required to withdraw from their 401(k) and traditional IRA accounts - and not without an income tax we might add. In fact, there are even penalties for not withdrawing as expected! However, when it comes to a Roth IRA, there is no annual withdrawal required, which ultimately allows retirees to withdraw at their discretion - not when others say they must.

Accessibility: Should a retiree need to withdraw money from a traditional IRA account before the age of 59 1/2, a 10% penalty for early withdrawal is applied to the transaction - and that's in addition to the income tax that is already being taken out. Though early Roth IRA withdrawals are also subjected to income tax and penalties as well, they are only applied to the part of the withdrawal that is taken from earnings (keep in mind, however, that the account must be at least five years old). That means greater accessibility to money with less penalties accrued for the account holder!

Usability: Where traditional IRAs require a person's successors to pay taxes on the money left to them during the withdrawal process, Roth IRAs often present the opportunity for tax-free withdrawals. Furthermore, since they do not necessitate that retirees must begin withdrawing as they get older, they allow individuals to leave money in their account for as long as they live. Therefore, if the retiree has money that they don't plan to use in their lifetime, they can keep it safe in their Roth IRA account for years until their family members or other beneficiaries are ready to take it out.

If you're beginning to think about retirement and retirement planning, considering a Roth IRA could very much benefit you and your family for years to come. Are you ready to learn more?

For more information about Roth IRA accounts and the retirement planning process, connect with the team here at American Investment Planners LLC today! Our experts can provide you with a savings strategy that carries your family for generations and generations. To get started, please give us call at (516) 932-5130.

Financial Planning Services At American Investment Planners LLC

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

In a world where a multitude of situations and life events require financial decisions to be made or simply impact an individual's financial status, it becomes increasingly more important every day for families, business owners and the like to have strategic financial plans in place. By being prepared for major milestones such as the birth of a child or retirement, or by understanding how the changing economy can impact a business, one can rest assured knowing that their finances will be the least of their worries regardless of what life throws at them.

So where do we come in?

Here at American Investment Planners LLC, we pride ourselves on the fact that our team of financial experts can handle any situation that comes their way. Why? Not only are each of our employees extremely experienced in the areas that they specialize in, but they have also faced similar personal challenges in their own lives and are very familiar with what each of our clients are experiencing on a personal level.

To assist our clients in their efforts to achieve financial security for a lifetime, we offer the following services:

• Portfolio and asset management
• Estate planning
• Retirement planning
• Taxes and accounting
• Insurance
• Relocation

But that's certainly not all! We are also prepared to help our clients plan for health-related events, elder care, the possible loss of a spouse, and we can even guide parents towards savings programs that can come in handy when their children are ready to enter college.

Since our goal is to provide comprehensive financial solutions to each and every one of our clients, we make it a priority to learn each of their financial needs, investment philosophies and personal values as we go through the planning process. For more information about the financial planning services we offer to clients all over the country, please visit us at www.americaninvestmentplanners.com or call (519) 932-5130 today.

Tips To Improve Your Credit Score

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you've ever gone through the process of applying for a mortgage, buying a car, or even something as simple as signing up for a new credit card, then you are likely well aware of how important a good credit score is. And even if you haven't had these experiences yet, you are probably at least familiar with the idea of a credit score and what it means for you in various aspects of your life.

Since your credit score plays a major role in your ability to achieve success in several financial situations, we wanted to take this opportunity to offer a few tips that can help you improve yours; check them out below:

1. Always check your credit report for errors. Mistakes are a natural part of life (we all know that) but when they wind up on a credit report, they could be extremely damaging to your financial future. If any are evident, take the next steps by meeting with a financial expert to learn how to dispute them.
2. Make paying your bills on time a priority. Although many would think that this is a given, you would be surprised at how often people fall behind or miss their due dates. According to an article by U.S News & World Report MONEY, 35% of your credit score comes from your payment history - that's why it is so important to keep a close watch on your bills and stick to a rigid payment schedule.
3. Avoid cancelling old credit cards even when you aren't using them regularly anymore. Did you know that approximately 15% of your credit score is determined by the length of your credit history? Even though you might not be reaching for them in your wallet as often as you used to (but you should still be using them to some extent!), it's a good idea to keep accounts open to show that your history is still there.
4. Keep a close watch on how often hard inquiries are placed on your account. Hard inquires typically occur when financial institutions check your report to determine whether or not they will lend you a sum of money (for example, a mortgage). Since businesses that do so are required to tell you that they will be checking your report beforehand, you can keep a record of all of the potential hard inquiries that will affect your credit score. Hint: the less you have, the better!
5. Reduce your credit utilization rate by applying for higher credit limits. The amount of credit that you use directly influences your credit score, so by having a higher rate, it will seem like you are using less even if you are charging the same amount as you were in previous months. However, be weary of spending more if a credit increase is issued - just because you have more available doesn't mean you should use it all at once!

For additional tips on how to improve your credit score, please click here.

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Ways To Save For Your Summer Vacation

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

After what seemed like years of cold fronts and snowy weather conditions, we think it's safe to say that spring (and almost summer) has finally arrived. But although warmer temperatures have started to emerge and the sun has started to shine, it isn't unusual for families to plan a summer getaway to somewhere even warmer before their children go back to school. However, though summer vacations are highly anticipated by many, they are also quite an expense that requires careful planning for.

Now let us ask you this - what do your summer plans look like? Do you have a vacation destination in mind? Whether you're planning to set sail on a cruise or jet set across the country, here are a few tips that can help you start to save:

1. Either through your bank or simply at home, set up your own vacation fund that you can contribute portions of your paycheck to each pay period. By putting some money to the side every two weeks or so, you can build up a pool of savings that is specifically dedicated to travel - just be sure not to withdraw any funds as tempting as it may be!
2. Make minor adjustments to your every day routines during the months leading up to your trip. For example, if you tend to eat out at work each day or send your children to school with lunch money, consider packing a bagged lunch instead. Though it may not seem like much at the time of spending, $5.00 here and there can certainly add up quick.
3. If you're looking to sign up for a new credit card, research options that come with travel benefits and rewards programs. Certain companies often offer discounts for flights, hotels, and additional expenses like rental cars, so why not sign up if the time is right and a vacation is in your future?
4. Similar to setting up a separate travel fund, place a jar in an easily accessible location (like your kitchen counter or your dresser) that you can drop your change into at the end of each day. And don't forget to check your pockets before doing the wash! Whether you stash away a quarter, a nickel, a dime or even a penny, you are one step closer to your dream vacation.
5. When coupons are available, use them! Most of us are guilty of throwing out the coupon books that come in the mail or don't take the time to look through magazines or newspapers for current deals, but if you do, saving for your vacation can be easy! 

Although it can be difficult to get in a groove, the sooner you develop habits that will help you save, the better! And the best part is, savings strategies like those listed above are relatively simple and simply require a bit more attention to detail on your part. So what do you say?

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Meet Brian Amato: Senior Investment Advisor

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

At American Investment Planners LLC, we work as a cohesive unit to develop and deliver the most beneficial solutions to each of our clients. We pride ourselves on the fact that our firm is built on a group effort, and since it is so, we invite you to become a part of our team by getting to know each of our experts individually. Today, we would like to feature Brian Amato, Senior Investment Advisor!

Brian's financial planning career first began in 1999 when he started working for Morgan Stanley. Just one year later, he joined our firm and quickly discovered the difference between big firms and independent firms like ourselves; that's when he realized that we offered an environment that he could thrive in for years to come!

As Brian puts it, "the first thing I really appreciated was the wide variety of investment products I could choose from. I was able to choose what best fit the client's needs instead of being restricted to proprietary offerings."

Since becoming a member of the American Investment Planners LLC team, Brian has made it a priority (and has certainly succeeded at that) to get to know each of his clients on a personal level in order to develop the right financial plans and strategies; "I always inquire about children, special needs, anything that will impact their financial goals and mostly their financial security," explains Brian.

Now that you know a little bit about Brian's professional background, let's take a look at some of his hobbies and interests! In his free time, Brian is passionate about boating and is even a U.S Coast Guard certified captain! Additionally, he truly loves dogs and animals and has been involved with the Last Hope Animal Rescue for many years. When he is not navigating the seas or dedicating his time to the animal rescue, Brian can be found in Fort Salonga, where he lives with his wife Melissa and their 19 month old daughter; he is also expecting his second child in July!

From all us at American Investment Planners LLC, we would like to thank Brian for all of his hard work and constant dedication to our team. His efforts certainly do not go unnoticed and we are so thankful to have him!

For more information on Brian Amato, check out his employee bio on our website!

Your To-Do List Before Participating In A 401(k) Plan

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

When seeking employment opportunities, one of the first (and considerably most important in our eyes) questions candidates ask is whether or not a 401(k) plan is offered. Since the purpose of a 401(k) is to help individuals save and prepare for retirement, it is crucial for employees to take advantage of such plans the moment they become available to them.

However, entering into a company sponsored 401(k) plan is more than just saying "sign me up;" a lot of thought and decision making goes into the process! If the opportunity to participate in a 401(k) plan is in your future, here are a few things you must find out and consider first:

Company Contributions: One of the greatest benefits of some 401(k) plans is that companies match the contributions their employees make in one way or another. Since matching rates will likely differ from company to company, the first step you should take is to figure out how much you have to contribute to get the most in return from your employer!

Plan Management: Many 401(k) plans come with fees attached for the management of the plan. When deciding how much you plan to contribute, keep in mind that some of your savings will be deducted for reasons such as investment management and general bookkeeping by your plan sponsor. Though they may be minimal, they are certainly something to consider since they directly influence your account.

Investment Opportunities: Chances are your 401(k) plan will have a variety of investment options available for you to split your money between. Rather than make a snap decision about where your contributions will go, do some research to learn more about what each investment means and how they match with your personal financial goals.

Considering that 401(k) plans play a critical role in saving for retirement, it's important to fully understand all of the aspects of your plan. But since financial topics like 401(k) plans can be confusing, we at American Investment Planners LLC have a team of retirement planning experts ready to educate you so can fully understand your 401(k).

Here at American Investment Planners LLC, we also offer tax planning, estate planning, retirement planning and more to generations of families throughout the United States. For more information about our services, please visit www.americaninvestmentplanners.com.

Tips For Paying Back Student Loans

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you have a child who will be graduating from college this May or a few years down the line, then you are probably very familiar with student loans. In fact, you may even already be thinking about how you plan to pay them back or may be starting to talk with your child about strategies and approaches to avoid falling too far into debt once the first payment is due.

With the cost of college continuing to rise, we know how intimidating the process of paying back student loans can be for both parents and their children - that's why we put together the following list of tips to help make the experience less stressful:

Understand Your Loans: First and foremost, it's extremely important that everyone with loans in their name understands exactly how they work. That means being aware of who the lender is, how much has been lent, and what the repayment options are for each loan that has been taken out. Additionally, it is also important to know what the grace period is for each loan and be familiar with how much interest will be applied since it can heavily impact your total costs.

Keep Your Information Up To Date: Before it's time to start paying back loans, check to make sure that all of your contact information is current. Since you will likely receive electronic notifications and paper statements pertaining to your loans, you will want to make sure that your lender is sending them all to the right place. Even if you do something as simple as update your email address, be sure to keep in contact with your lender and update your information so that you don't miss out on important messages - it could cost you down the line!

Start With The Highest: If your loans allow you to pay by group, start by paying off the one with the highest interest rate. Even if the total loan amount isn't the greatest, tackling the highest interest rates first will help you accrue less in additional charges over time. Of course you will need to act in accordance with your repayment plan, but if you have the opportunity to choose which loans you pay off first, make it a priority to get your highest interest rates out of the way.

Although it may seem overwhelming when your first statement arrives, if you have a plan in place and keep a close eye on your loans, you'll likely find that the task of paying them back isn't so difficult after all! 

As one of the largest and most respected independent financial planning firms in the country, the team here at American Investment Planners LLC realizes the impact that student loans can have on a family's financial situation. If you have a child that will be entering college in the future, click here for a list of savings strategies that can help, or give us a call at (516) 932-5130 to get started on your financial plan; our team will come up with a method of savings that will benefit you and your family in several financial aspects of your life.