Tips For Paying Off Your Debt

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Debt - a word many of us fear all too often. When it comes to feeling financially stable, realizing that you owe more than you have can be pretty intimidating and leave you feeling at a loss for what to do next. However, if you've ever been in this situation, know that you're not alone and rest assured that there are plenty of ways to get out of it - you just need to know what to do!

If you've come here today looking for ways to get back into shape financially, check out our tips for paying off your debt below:

1. Set a budget: First and foremost, you'll need to set a budget for yourself that leaves you with enough money to start paying back what you owe. Keep in mind, though, that you will still have other expenses to care for, so you may need to make some adjustments to your current spending habits. For example, if you tend to spend a lot on things you don't need, see where you can cut back to dedicate some of that money to the bills that are piling up.
2. Look at interest rates: If you have several loans that need to be paid back or are a holder of multiple credit cards, see which one is charging the most interest on your outstanding balances. Since interest is directly related to how much you are required to pay back over time, your best bet is to start focusing on those bills that accrue the most so that your debt doesn't continue to increase.
3. Put the cards away: While you're working on paying off your debt, it may benefit you to take credit cards out of your wallet. This way, you won't be tempted to swipe and therefore will help you avoid having a bigger balance to deal with. Of course you may want to have one for emergencies, but if you do not give yourself the opportunity to use them, then you can work on keeping your debt from rising.

For more tips on how to pay off your debt, check out this article from U.S News & World Report MONEY.

So, what strategies do you use to pay off debt or to keep your debt at a minimum? If you're struggling with financial planning and are looking for a solution to help you get back on the right path, contact American Investment Planners LLC today! We are a team of financial planning gurus and can help you develop a strategy that keeps all of your finances in check. To speak with a member of our team, please call (516) 932-5130 today.

Meet Debra Hubschmitt: Front End Manager

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 Debra Hubschmitt, our Front End Manager!

Born in Fort Lauderdale, Florida, Debbie first made her way to the New York area when she was just 10 years old. And though she was young at the time, Debbie points to the move as the primary reason she became such a social butterfly - after all, living in New York is reason enough to get out there and make new friends! That being said, it isn't surprising that she always wanted to be a talk show host growing up. But even though that may not be her job today, as our Front Desk Receptionist (aka Front End Manager), Debbie is constantly utilizing her interpersonal skills and interacting with our clients on a daily basis - what a perfect position for her!

Right out of high school, Debbie began working in The Garment Center and NatWest Bank. However, shortly after she was given the opportunity to work with Lee Rosenberg, and she's been a member of our team for over 20 years now! As the first face clients see when they walk into our office, Debbie does an incredible job of making our clients' experience with us a memorable, uplifting and positive one. But that's not all she does! In addition to welcoming our clients, Debbie also works in conjunction with all of our company's advisers, maintaining their calendars and schedules.

Outside of American Investment Planners LLC, Debbie is the proud mother of Wesley, who was SUNY Farmingdale athlete of the year for several years! Additionally, she loves to walk and bike ride, and has plans to travel as much as she can before settling down - her fiancé Bill says he's never seen anyone with as much as energy as she has!

Debbie - we are so thrilled to have you on our team! Thank you for all of your hard work and dedication to our clients; you have certainly helped create a warm and welcoming environment for all!

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.

Three Tips For Writing Your Will

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

So the time has come to write your will - where do you start? Though writing a will probably isn't necessarily an ideal task for your to-do list, it's still important to get it done so that you're all set for your future. But since we know that this isn't as easy as jotting down a few names on a piece of paper, we've put together the following list of tips to help you get through:

1. Think carefully about your beneficiary: Your beneficiary is the person who will inherit your assets, so choose wisely! Before you set anything in stone, take some time to think about who you feel is best for the title - children, siblings, cousins, your choice. And don't forget to take age and health into consideration. Though you may have someone in mind, think about where their future stands in comparison to yours as well.
2. Choose an executor: While yes, your beneficiaries will wind up with your assets, who's to say that your needs will actually be met? The good news is, there is someone for that - the executor of your will. This person's job is to make sure that what you wish for in your will truly comes to pass. That means you need to choose someone who is responsible!
3. Be as specific as possible: The more specific you are, the better, and that's for both people who are getting something and people who aren't. For example, if you have multiple children but want something specific to only go to one, you'll need to write that out clearly. Additionally, if you have someone who you don't want anything to be left to, you need to mark that down too to avoid having your will challenged at a later date. Like anything else, the more information you can provide in this legal document, the easier it is to ensure that everything is carried out the way you hoped it would be.

That all being said, what questions do you have about writing a will? Do you have other questions about the process of estate planning? If you're ready to get started on planning for what will happen after you pass, give us a call at (516) 932-5130. Our team specializes in estate planning and will guide you on the right path to making smart decisions for your future! 

Market Update

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

We are all witnessing the increased volatility in the global markets which began two weeks ago when China unexpectedly devalued its currency, raising fears that its economy might be in worse shape than previously considered. It is natural to wonder how this may impact our wealth. The daily ups and downs today will be frustrating. Wall Street’s initial sell-off may ease throughout the day. While we continue to be cautious, let’s remember to stay focused on the long-term. We'd like to point out that this sharp pullback has come in the wake of a seven-year bull market run. To ease some of your concerns, please click here to check out an article from industry gurus at Hartford Funds. 

The old adage of “buy low, sell high” is sometimes forgotten when the market moves down. The history of the stock market illustrates its unpredictable nature and investors that stay in the market long enough will certainly see more ups and downs in the future. We must continue to stay focused on long-term goals rather than short-term statements. There are reasons to remain optimistic about the market’s future in the months ahead. 

We at American Investment Planners LLC consider it our responsibility to assist our clients and keep them focused on their personal financial plan we have developed to reach their long-term financial goals. Please call us at 1-866-932-5130 if you would like to discuss the opportunities the market is currently presenting.

The Benefits Of Estate Planning

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Though when you think about planning for your future you may be inclined to solely focus on how you'll support yourself during retirement, it's important to understand that you also need to plan for what will happen when your journey here comes to an end. That's where estate planning comes in. If you're unfamiliar with the term, estate planning ultimately refers to figuring out how your assets will be distributed upon your passing. But why is it such an important part of the planning process? Below, we outline a few reasons for you to consider:

Provide support: Spending some time on estate planning allows you to make sure that your surviving spouse and children (if applicable) are cared for. Especially if you have children that haven't reached the age of 18, you'll want to feel confident knowing that they will wind up in the right hands and are taken care of by those you name should something happen to you before then.

Ease the burden: The passing of a loved one is hard enough for family members as it is, but having to take care of everything that comes after that on their own can make things even more stressful. That's why it's so helpful to have everything sorted out for yourself while you are still able to make decisions! 

Minimize taxes: The only way to make sure that your beneficiaries receive the maximum financial benefit after your passing is by having a solid estate plan. When you don't have a plan in place, it's more likely that the government will end up with some of the money you specifically left for family and/or friends.

Speed up the process: If you were someone's beneficiary in the past, then you may have found yourself waiting for quite some time before receiving anything that was left in your name. However, with an estate plan, you can rest assured knowing that your beneficiaries will receive what they are entitled to quickly. For example, you may decide to have your insurance just pay your beneficiaries directly rather than have them go through others.

To learn more about the benefits of estate planning, check out this article from the American Bar Association.

At American Investment Planners LLC, we realize just how crucial estate planning is in addition to all else that comes with preparing for the future. But that's why we're here to help! For more information about our estate planning services, be sure to give us a call at (516) 932-5130.

Three Things You Must Know About Your Student Loans

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Whether you are just taking out your first set of student loans or are approaching the end of your grace period, there are so many concepts and terms that you must be familiar with in order to effectively manage your debt. Especially if you didn't or haven't taken the time to really read over the information presented to you when applying, now is the time to get on board with what it all means. To help you out, we've put together the following list of things all borrowers must know (not just parents, as seen in our latest blog):

1. Due dates: Though it may seem like an obvious thing to be aware of, you'd be surprised at how many people aren't quite sure when their first payment (and all the ones that follow) is due. Even if you plan on setting up a system where your lender automatically takes the money out of your account each month, you should still know on which dates payments are expected - especially if you are counting on a paycheck to already have been deposited before hand.
2. Interest rates: High or low, you'll most certainly want to know what type of interest each of your loans will accrue. Since interest is going to have a direct effect on how long it takes you to pay off your loans, you must be aware of how it will be applied to each of your loan groups; this will help you determine which are best to focus on first.
3. Your lender: The money isn't coming from just anywhere - you have specific lenders who are working with you to cover your tuition costs! In order to find out when your payments are due, what the interest rate is and so much more, you need to know which providers are in charge of each of your loans. And remember, you may have more than one, so don't stop researching until you have a name to match every loan you've taken out!

So, do you know when your loans are due? What your interest rates are? Which lenders you work with? If not, make finding out a priority on your to-do list! Having this information handy is the first step to managing your student loans in a way that will benefit you down the line. 

On the other hand, if college is years away for you and your family, your first priority should be finding ways to save! To learn which savings solution is the perfect match for you and your financial goals, give us a call at (516) 932-5130 to start speaking with one of the professionals at American Investment Planners LLC today!

Ways To Save Money At College

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

When it comes to college and money, figuring out how to save for tuition costs is only half the battle - once those are covered, students must find ways to save while they are living the college life. Though they may have a part-time or full-time job while attending school, bills sure do add up fast when you factor in the cost of supplies, transportation and so on and so forth.

Should you have a child preparing for their first day of college, or if you've come across this post because you're getting ready for the college experience yourself, below are a few tips that can be used to save:

Buy used instead of new: Textbooks are known to be one of the biggest expenses for college students. To reduce your textbook costs, always look for used instead of new, and always opt for renting when possible. And if your school's bookstore doesn't carry the reading material you need, don't hesitate to look online or at local stores instead.

Research meal plans first: If you'll be living on campus, chances are you'll be required to purchase a meal plan. However, while choosing the most expensive option may put your mind at ease knowing you have more than enough to cover the cost of breakfast, lunch and dinner, don't forget that you may wind up with leftover funds that you can't use at the end of the school year (not to mention, what if you aren't crazy about the food?). That being said, your best bet is to do some research and find out what types of food your school offers and for how much before selecting a plan.

Carpool and minimize driving time: Planning to commute? Then find a friend to carpool with! Additionally, try and plan your schedule so that you don't find yourself with hour breaks that encourage you to drive home. Even if you live nearby the college you attend, every trip back and forth uses gas (and money) that you could be saving.

To learn other ways that you can save money while at college, check out this article from U.S News and World Report MONEY.

Aside from how to save money during the college years, are you seeking information and guidance on how to save for tuition? To put together a savings plan that will benefit you financially, be sure to give us a call at (516) 932-5130 to start speaking with a member of the American Investment Planners LLC team today!