Stock Market Before Election

Presidential elections happen every four years in the U.S., and leading up to election day, the stock market becomes more volatile. This volatility results from investor uncertainty regarding policy and regulation changes a new president can bring when they step into office.

The short-term performance of specific sectors can be unprecedented during this time, with some sectors having higher volatility than others. For instance, the healthcare industry’s stock market value can change drastically leading up to the election in anticipation of legislative change in healthcare policies. Another example is the energy sector, where changes in spending priorities dictated by the stance of the parties can increase volatility.

The election polls can also have an impact on stock markets. The market typically performs poorly when candidates tie in major polls, as this causes investor uncertainty.

Stock Market Election Predictions

Despite an individual’s political views, the odds are high that the stock markets have already priced in what will happen. This is because the stock market is a forward-looking instrument, meaning that prices will reflect investor predictions.

The stock market has accurately depicted who will win in 87% of elections since 1928. Data shows that the probability of the incumbent party losing is high if the stock market drops before the election. If the stock market value rises, there may be a higher probability of the incumbent parting winning.

Stock Market After Election

The stock market reacts differently depending on the type of election and which party wins. It also changes throughout the duration of the president’s full term.

The Stock Market and the 4-Year Presidential Cycle

During the four-year presidential term, the stock market seems to follow a predictable trend, which leads to the creation of the “presidential election cycle theory.” This theory states that the stock market is weak in the first half of the presidential cycle and high in the second half, particularly in the third year.

While the research to support the dip in the first half is inconclusive, the Standard and Poor’s 500 (S&P 500) — which shows the stock performance of the 500 leading companies in the U.S. — has historically shown an average gain of about 16.3% in the third year of the presidential cycle. The president will typically try to drive the market up closer to the end of their term to increase the chance of re-election, which may be a reason for the third-year gains. There are exceptions to this theory, and the data from the limited number of election cycles may not be enough to predict future patterns.

The Effect of the Winning Presidential Party

Research shows that the winning party has a minimal effect on the stock market in the long run. However, there are some cases in which there is a slight impact, especially in the months following election wins.

Generally, the stock market after elections increases more when a Republican candidate wins. However, the market has performed significantly better under Democrat presidents during their full term in office.

The market also has a brief positive reaction when the incumbent party is re-elected, especially when they’re a Democrat party.

Stock Market After Midterm Election

Midterm elections happen two years into a president’s four-year term and determine the control of the U.S. Senate and House of Representatives. Historically, the stock market performs negatively leading up to midterm elections, but recovers quickly after them. Stock market performance after midterm elections is higher than usual, with an average return of 16% for those years.

Like the presidential party, midterm election results don’t greatly impact the stock market. People may think that it’s better when one party controls both the White House and Congress, but data from past elections shows that the market performs slightly better when the Democrat party controls the White House and the Republican party controls the Congress either fully or split.

Regardless of volatility leading up to elections and the slight impact of the winning party, the stock market during election years has been favorable overall. Looking at data since 1928, 20 out of the total election years had positive returns with an average return rate of 11.58%. The stock markets posted negative returns only four times.

Investment Strategies for Elections

It’s important to remember that elections have little impact on the stock market’s overall performance over a long period of time. This is because fluctuations in returns caused by election periods even out the longer your investment period is. Despite the volatility leading up to elections and who’s in office after them, the stock market continues to provide returns year on year. Historical data from the S&P 500 index supports this notion, as it shows an average annual return rate of about 10.3% since 1957.

Rather than worrying too much about the elections, keep an eye on other factors that have a greater impact on the stock market. These include interest rates, inflation, geopolitical conflicts, and the state of the economy.

If you’re investing in the stock market, it’s essential that you:

• Stay invested: Invest for the long term in the stock markets to ensure the realization of the compounding effect of interest.
• Be consistent: The dollar cost average over time — investing set amounts at regular intervals — is better when investing in stock markets.
• Run a diversified portfolio: A diversified portfolio among sectors is one of the surest ways to insulate yourself from increased volatility.

Manage Your Wealth Through Fort Pitt Capital Group

Election time can bring uncertainty and stock market volatility, so your investments must be in the right hands. Fort Pitt Capital Group has a team of financial advisors with decades of experience in wealth management, financial planning, and investment analysis.

We’re dedicated to creating individualized investment strategies that meet your goals. Our team is always ahead of market changes, and we design our investment portfolios to mitigate the amount of loss during market decline. Through it all, we provide clear, transparent communication so you know exactly what’s happening with your investments.

Get started today by viewing our services for both individuals and businesses. When you’re ready, fill out our online form to schedule a free consultation.

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The financial advisors at Fort Pitt Capital Group are here to help you budget for the future. This article offers tips you can use to form a saving strategy as you prepare for retirement and your children’s college tuition along with our webinar, ‘Will College Costs Wreck Your Retirement?’

Prioritize Retirement Savings

Retirement should be the first priority on your long-term savings list because it is one almost certain part of your future regardless of your family status. If you have children, there is a chance that college won’t be the best option for them. That means starting your retirement savings before a college fund creates enough of a financial base in your retirement account that you can roll back its budget later and still feel comfortable. 

Start a College Savings Account When Your Child Is Young

Begin saving for college when you have a child, ideally after allowing your retirement fund to take shape. Saving for education early is important so that you can build enough money to position your child for success after graduation. 

Starting early means you’ll have plenty of time to build their fund, and there’s a chance you may not even need it. Your child may earn an academic or athletic scholarship. They may also choose a different career path that doesn’t require a traditional college education. Click here to learn how to handle unused 529 Funds. 

Planning Goals, Expectations, and Options

Planning is important when saving for anything major like college or retirement. A steadfast financial plan starts with understanding your financial needs now and in the future. Calculate how much you’ll need for retirement and college tuition payments, then assess your income to see how much you can afford to set aside. Break your long-term savings goals into yearly, monthly, and even weekly increments, then set aside as much as you can with each paycheck to reach your goals while meeting your immediate financial obligations. Click here to download Fort Pitt’s free personal budget spreadsheet.

Retirement Planning and Options 

Forming a retirement savings plan starts with an assessment of your monthly expenses. Your retirement savings end goal depends on your lifestyle. You’ll need to save enough to meet your current expenses if you want to keep living how you live today. Your retirement fund should reach your current salary multiple times over so that you can continue living comfortably for multiple years. Setting aside about 15% of your income for retirement each year is common.

There are two conventional ways to save for retirement — individual retirement accounts (IRAs) and 401(k)s:

• IRA: An IRA is a personal retirement account offering tax advantages. There are numerous types of IRAs. Traditional IRAs offer the potential for tax-deductible contributions. Roth IRAs yield tax-free distributions. 
• 401(k): A 401(k)is a company-sponsored retirement account. Your employer will offer contributions matching up to a certain percentage. The more you contribute, the more your employer will match. 

College Savings Planning and Options 

A college savings fund should max out as close to each child’s tuition as possible. A four-year degree will cost $100,000-$200,000 in total, depending on the type of school your child attends. Scholarships will reduce the cost of college, but it’s best to assume the least amount of financial aid. You’ll have roughly 18 years to save, so build your budget in a way that allows you to get as close to the full tuition as possible. Saving $500 a month for 18 years will allow the fund to surpass the $100,000 mark. 

There are two common types of accounts for college education — 529 plans and Coverdell Education Savings Accounts:

• 529 plans: A 529 plan allows you to contribute as much as you want up to your balance goal, which is ideal for fast growth. There are no taxes for 529 growth or withdrawal, provided the monies are used for educational purposes, per the rules for your 529 program. There are things you can do to avoid paying penalties on a 529 refund- click here for more details. 
• Coverdell Education Savings Accounts: A Coverdell Education Savings Account is a government account you can use to cover educational expenses without taxes in the first 30 years of your child’s life. There is a maximum contribution of $2,000 annually for these accounts. 

For more details and additional options, check out our article, How to  Save For Your Baby’s Future. 

How Fort Pitt Capital Can Help

Fort Pitt Capital Group helps individuals and families plan for major expenses at every stage of life. Our financial advisors will sit down with you to analyze your financial situation, understand your long-term goals, and develop a savings strategy that gets you there. Some individual financial services you may consider include:

• Wealth management
• Financial advisory
• Portfolio management

Work With Fort Pitt Capital Group

Building a prioritized financial strategy will help you afford college tuition payments and post-retirement expenses comfortably. Fort Pitt Capital Group’s financial services will put you on the right path so that you maintain steady growth. We encourage you to contact us online for more information on our wealth management services. 

The post How to Save for College and Retirement appeared first on Fort Pitt Capital Group.

1. Debt Payment

The most important step before exploring investment options is to pay off your debts. Clearing your debt improves your credit score while eliminating the potential for debt collectors to take money from any of your accumulated savings. Explore repayment plans from debtors, and have a clear picture of how to budget to get on top of your debt.

2. Educational Investments

Military members have benefits from the United States Department of Veterans Affairs (VA) that help secure tuition assistance. These benefits are helpful and aren’t the only ones available for use by the military. Veterans can also access a college education through the Defense Activity for Non-Traditional Education Support (DANTES) organization, which includes tests that help you earn credits toward a free associates degree.

3. Real Estate

The VA offers veterans home loans that don’t require a down payment. Taking advantage of this benefit to invest in real estate is a good idea for you and your family, helping you get a home while growing real estate equity and building your personal wealth.

4. A 529 Plan

A 529 plan is an investment savings plan that allows people both in and out of the military to contribute tax-deferred amounts into an account. The plan will accrue compound interest that you will not be taxed on if you use the money to pay for certain types of approved educational expenses.

5. Federal Thrift Savings Plan (TSP)

Due to your working conditions differing from traditional corporate jobs, you don’t get a standard 401(k) plan. You do, however, get a TSP, which is for federal employees and puts 5% of your military income toward your savings. A TSP can be used with an Individual Retirement Account (IRA) that accumulates tax-free contributions toward your retirement.

Plan Your Military Finances Wisely

The options available to you as a member of the military make it possible for you to have access to financial security while deployed. Your family will benefit from smart financial planning, so it helps to have financial advice that sets you up for success. Contact us to work with our financial advisors.

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What Factors Help Determine How Much House You Can Afford?

A potential lender will look at your finances to determine if you will be a good candidate for their loan. Expect them to request information on your household income, debts, and savings. Before this review, we suggest you have about three months worth of any payments you regularly make in your savings.

The most important factor banks and other lenders use to determine if you qualify for a mortgage loan is your debt-to-income, or DTI, ratio. Your DTI ratio compares your debt to your gross income. The percentage of monthly income spent on monthly debts is your DTI. There are two types of DTI:

• Back-end DTI considers all monthly debts, including student and automobile loans. Your back-end DTI should be less than 43% to receive a qualified mortgage.
• Front-end DTI examines only your debts related to housing. Lenders want to see a front-end DTI of 28% or less for mortgage applications.

Alternative Loans

Many people have trouble getting approved for a conventional loan for various reasons. However, some special loans give potential buyers other available options on the path to homeownership.

• FHA loans: The Federal Housing Administration insures an FHA mortgage loan. FHA loans allow people with low credit scores or little savings to get a mortgage that a conventional loan might not cover. Down payments start at just 3.5%, and you can still get approval with a DTI of up to 50%.
• VA loans: This loan type is a mortgage loan insured by the U.S. Department of Veteran Affairs. It covers primary residences that are in “move-in ready” condition. The main benefit of VA loans is that there is no down payment. However, many other great perks come from VA loans, such as unlimited borrowing.

What Is the 28%/36% Rule?

The 28%/36% rule is an important equation that helps with knowing how much house you can afford. It states that when deciding how to spend your gross monthly income, you should allocate no more than 28% for housing and 36% for your total debt. This debt includes everything you owe in a month, such as payments for your student loans, mortgage, credit card, and car. You can use the remaining 64% for expenses such as food and entertainment or put some away in your savings account.

This rule helps you see how much you can afford to pay for a loan each month. While you can make adjustments based on how you want to spend your money, the 28%/36% rule is beneficial when deciding what size loan you can afford.

Most mortgage calculators account for this rule and help you know what kind of house you can afford after you insert pertinent information.

How Does Your Credit Score Impact Affordability?

Your credit score is a major factor when you apply for a loan. Banks use this element to calculate whether you are a risk and how much money they should let you borrow. A higher credit score will enable you to have a lower interest rate, allowing you potentially save hundreds of dollars a month.

Additional factors that affect affordability include your debt amount and how much of a down payment you apply to your house. Having a low DTI ratio and putting down a higher initial payment will assist you with enjoying a lower interest rate, as banks will have greater trust in your ability to pay them back.

How Does the Amount of Your Down Payment Impact How Much House You Can Afford?

You will probably notice that when you put a higher down payment into a “how much house can I afford” calculator, the house will ultimately be more affordable. Putting down a larger down payment on a house affects its affordability in several ways:

• Lowering the loan-to-value (LTV) ratio: An LTV ratio is how much you borrow compared to the value of your home. Having a lower ratio makes lenders more likely to approve your mortgage with reduced interest rates, as they will consider you to be less of a risk.
• Reducing your monthly payments: A large down payment can result in lower monthly payments for a shorter period, as you have already paid for most of the house.
• Requiring you to pay less overall: Lower interest rates help you pay less in the long run due to the larger amount you put down at the beginning.

Learn More About Mortgages From Fort Pitt Capital

If you’re looking for financial advice regarding your mortgage, contact Fort Pitt Capital. Our goal is to do what is best for you.

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Putting a child through college can be a financial burden for many families. Many college students take out loans to pay for higher education, and in some cases, it can take a lifetime to pay it all back. So, how can you help your child save for college? If you do your research, it’s much easier than you may think. Use this guide to start learning how you can save for college.

When Should You Start Saving for College?

While it’s never too early to start saving for college, it’s wise to have a few things sorted out first. While it may feel selfish, take care of your future before saving for your child’s.

To start, create an emergency fund and keep adding to it. You can tap into these savings if you need to pay hospital bills or fix home or car damage. At the same time, work on paying off your debt before saving for your child’s college fund. The sooner you pay off your debt, the more you’ll be able to afford to help your child save money.

Before saving for college, the third thing you should invest in is your retirement plan to ensure you’ll be financially stable after you retire. If you feel selfish about taking care of yourself first, think about it like this — you can always borrow money for college, but you can’t borrow money for retirement. However, if you have enough money when you retire, you can help your child repay their loans.

There’s no wrong way to save for college. You can start whenever you’re ready, but the earlier you start, the greater your chance is to save more. The secret is to remember your needs and future matter, too.

7 Types of College Savings Funds

When starting a college fund, you have several options for savings accounts, each of which comes with unique pros and cons. Some have restricted eligibility or limits on how much money you can contribute per year. Understanding how each type of account could help you save is the first step in starting a college fund. Let’s take a closer look at some commonly used college fund options.

1. Education Savings Account

An educational savings account (ESA) is like a Roth IRA, except it’s only for education purposes. ESA accounts are beneficial because they grow tax-free. You can withdraw the funds without taxes to pay for college and other education expenses like K-12 private school tuition, vocational school, school supplies, textbooks, or tutoring.

The benefits of an ESA include:

• The account is tax-deferred.
• You can transfer it to the beneficiary’s relative who is under age 30.
• There’s flexibility in terms of where you can spend the money.

The disadvantages include:

• You can only contribute up to $2,000 a year until the beneficiary turns 18.
• The beneficiary must use the money in the account by age 30.
• There are income restrictions on who can contribute to an ESA.

2. 529 Plan

A 529 plan is another way to save money for college with tax benefits. Since states sponsor 529 plans, their structure varies by state. As a result, you can use a plan in a different state than the one you live in, and further, you can apply the plan to a school in a separate state than the one where you opened it. For example, if you live in Pennsylvania, you can contribute to a plan in Montana and apply the funds to a college in Arizona.

Benefits of a 529 plan include:

• As the owner, you have complete control over the funds so that you can use the money for its intended purpose.
• There are no income restrictions limiting eligibility.
• You can contribute higher amounts of money to this account.
• The money can sit as long as you like — you don’t need to withdraw it by a specific age.

Disadvantages to a 529 plan include:

• Some 529 plans change your investment options based on your child’s age.
• There is limited flexibility.
• A 529 plan can affect how much financial aid your child receives.

3. Prepaid 529 Plans

Outside ESA accounts and 529 plans, you may want to consider other choices. Doing extensive research before investing in anything is essential, as there are many aspects to learn. No single option is the best — it’s all about finding what will work best for you and your family’s needs.

For the most part, prepaid 529 plans follow the same rules and restrictions as a regular 529 account. As the name suggests, prepaid 529 plans allow you to pay in advance for blocks of tuition at a state university. This strategy lets you lock in today’s tuition rates, which could give you a significant discount since college tuition rates are subject to increase.

While these plans could save you money, you should read the fine print before choosing a prepaid 529 plan. Prepaid tuition plans can be challenging to understand. They can differ in every state — some may restrict how you can spend the money or have rules regarding your child’s acceptance to the school. A significant disadvantage of prepaid 529 plans is that they’ll often only cover tuition and fees, which means you’d have to pay for room and board.

Benefits of a prepaid 529 plan include:

• You can counteract rising tuition by paying for today’s rate.
• The rules of a regular 529 apply.

Disadvantages to a prepaid 529 plan include:

• Only some states offer these plan types.
• The program often limits your child to schools in your state.
• It might not cover expenses other than tuition, like room and board or textbooks.

4. Roth IRA

While most people use Roth IRA accounts to save for retirement, some financial planners also suggest saving college money in these accounts. Doing so can be beneficial because the money will grow and is available for tax-free withdrawal. Plus, if your child ends up not needing the funds, they’re still there for you. Understanding how to use Roth IRA funds to pay for higher education expenses is critical.

Unlike the 529 plan, the existence of a Roth IRA account won’t affect your child’s financial aid. However, withdrawing the money can harm the potential for financial aid because it increases your income. If possible, it’s a good idea to wait until your child graduates, then use the Roth IRA contributions to pay off their student debt.

Benefits of a Roth IRA include:

• You have more freedom to use funds, making it a great option if your child decides to forgo a college education or doesn’t have student loans to repay.
• Having this kind of account still allows for financial aid options.

Disadvantages to a Roth IRA include:

• Withdrawing funds counts as increasing your income, changing your child’s eligibility for financial aid.
• You will have limits on how much money you can contribute each year.
• You can only contribute your post-tax income.

5. Brokerage Accounts

A brokerage account is a regular investment account that offers much flexibility in saving your money. You can contribute as much money as you’d like, and you can withdraw any amount at any time without penalties. Crucially, you can use the money for whatever you want, whenever you need it.

The downfall of brokerage accounts is that they don’t include any tax breaks. Although tax-deferred accounts like the ESA and 529 can provide significant savings, you might be losing out on the flexibility of options within brokerage accounts.

Benefits of a brokerage account include:

• It is easy to establish and start.
• You have a wide selection of investment options.
• You have higher security on your investments than other account types.

Disadvantages to a brokerage account include:

• Brokerage accounts are riskier, and return on investment is not a guarantee.
• Market conditions are constantly shifting, so you will need to monitor changes.
• If you want an advisor, you might have to pay a fee.

6. Uniform Transfer/Gift to Minors Act

We only recommend Uniform Transfer to Minors Act (UTMA) or Universal Gifts to Minors Act (UGMA) plans as a last resort. If you didn’t qualify for any other college savings account, consider a UTMA or UGMA plan. While you’ll set up one of these accounts in your child’s name, you’ll control it until the child is 18 for a UGMA plan or 21 for a UTMA plan. Once your child is old enough, they’ll be able to spend the money however they choose.

Like the 529 and ESA plans, UTMAs and UGMAs have tax advantages. The most significant downfall of this choice is that there’s no guarantee that the recipient will use the money for college expenses. Because your child is free to use the money for whatever they like, they may decide to use it to pay for something other than college.

Benefits of a uniform transfer include:

• These plans are great supplementary or alternative options to other savings plans like an ESA or 529.
• Your child can use them for whatever they would like once they get control over the account, giving them options outside of a college education.
• You will pay a lower tax rate on collected funds.

Disadvantages to a uniform transfer include:

• You must keep the same beneficiary until your child reaches the determined age.
• While taxes are lower, other options have no taxation.
• Your child might use funds irresponsibly after gaining control of the account.

7. Regular Savings Accounts

While there are many types of funds designed to help yield high growth and support your child through college, a simple savings account can also be a powerful resource. You can select the type of savings account you want to open, allowing you to choose the interest rates and access level. Since you will manage the account, you can develop a more personalized savings plan to create funds for your child.

Benefits of a savings account include:

• You can change the purpose of this account later, making it perfect if your child chooses an alternative path to college.
• There are no restrictions on money use or application.
• They make great supplementary accounts to other savings initiatives for additional funds.

Disadvantages to a savings account include:

• You are entirely responsible for making deposits and sticking to your payment plan.
• Low interest rates can make growth slow.
• No restrictions prevent a beneficiary from using the money before your child goes to college.

How Much Should You Save for College?

Often, the amount you will need to put aside for your child’s college education will depend on the institution they want to attend. Each college option has vast price differences. In 2022, attending college in the U.S. costs an average of $35,331 per year. This cost includes tuition, textbooks, and other fees.

However, several factors can impact college costs. You might have to pay additional fees depending on where your child goes to school.

While in-state tuition averages just over $9,300, out-of-state rises to over $27,000. You will need different savings strategies to afford out-of-state tuition for your child over in-state. Each state also has varying tuition rates, where some states raise higher than others.

As you begin to budget and plan for your child’s college fund, you should research the average cost of college in your state to get a more accurate representation of your savings goals. Vermont had one of the highest public in-state tuition rates in 2021, costing students around $16,600 annually. On the other hand, Florida only costs around $4,400 each year for a public in-state school.

Additionally, you should consider public versus private schools. Private colleges can average over $35,000 annually for tuition alone — total fees for a private college can easily cost over $50,000 each year. While many families prefer the many perks that a private university education can offer, you will have to save accordingly to ensure you can afford the fees.

7 College Saving Tips

Long-term saving for college is more than setting up savings accounts and making contributions. To maximize your child’s education savings, consider these additional tips.

1. Make Saving Automatic

Once you create or designate an account for college savings, set up your checking account to automatically transfer a specified amount into your college account. Make sure you choose an amount that you can manage without putting yourself in challenging financial straits. Automatic contributions require less thought, and when you don’t have to check on them every time you contribute, it’ll make the savings seem like they’re growing faster.

2. Apply for Scholarships

Scholarships are incredibly beneficial, and you can get them for various reasons. Typically, students who excel in academics, sports, or extracurricular activities can qualify for scholarships. Your child should apply to all scholarships for which they’re eligible. It’s free money that you don’t have to pay back. Even small scholarships can add up and save you money.

3. Apply for Financial Aid

Another way to receive free money for college is through the Free Application for Federal Student Aid. Schools use this form to determine how much money they can offer in the form of school aid, state aid, work-study positions, and federal grants. FAFSA also provides student loans, so make sure you know what you’re accepting.

4. Take AP Classes

Your child can take advanced placement classes in high school. For each AP course exam your child passes, they can earn college credits, which means fewer classes you’ll have to pay for. Some high schools even provide students with the option to take courses from a local community college while in high school, which is another excellent way to earn transferable credits and save money in the future.

5. Get a Job

Encourage your child to get a job. Whether it’s a part-time position during the school year or a full-time summer position, working is a great way to earn and save money. A job is also beneficial because your child will gain experience to add to their resume for college applications and future job applications.

6. Open a Savings Account

As your child earns money, they’ll need a safe place to save it. Help your child set up and contribute to a savings account. Many banks offer accounts designed specifically for students, which are typically more lenient about minimum balance requirements and offer waived fees. Having a savings account can also help teach your child responsibilities and the value of saving.

7. Invite Others to Help

Another way to add to your college accounts is to involve your friends and family. Invite family members to make contributions as a holiday or birthday present. Some accounts, like 529s, include ways to accept contribution gifts or offer account-specific contribution gift cards. Remember that gift contributions can be small amounts, and they’ll still be helpful. Every little bit helps!

College Savings FAQ

If you’re searching for answers to additional questions, consider speaking with an experienced financial advisor.

Should I Save for Retirement or College?

Generally, it’s a good idea to make sure you have yourself taken care of first. Financially taking care of yourself in retirement will lessen the burden on your children. If you have your heart set on saving for both simultaneously, it’s crucial to find a balance between saving for college and saving for retirement. Consider testing the saving rates for each and how you can adjust them to grow both accounts.

How Much Should I Be Saving?

How much money you save will ultimately depend on what you can afford and when you start saving. First, determine what percentage of the cost you want to pay for. You can research the cost of an in-state public college and use that number as a baseline. To start, consider saving one-third of the cost of a public college in your home state. Aim to pay a third out of pocket during your child’s attendance and finance the rest through loans.

Of course, if you want to save more or less, adjust the strategy to work with your goals.

What Happens to a 529 if My Child Does Not Go to College?

If you create a 529 plan for your child and they decide not to go to college, you still have options. The money in this account can sit indefinitely, so there’s no rush to take it out. If your child chooses to go to a trade or vocational school, you can apply money growing in a 529 account to those schools as well. If it turns out your child doesn’t need the money, you can always change the beneficiary to another family member at any time.

What Is the Best Account to Save for College?

The most common accounts used to save for college are ESAs and 529 plans. Ultimately, the best choice will depend on your family’s needs. The most effective way to determine what you need is to meet with a financial advisor.

How Do I Start Saving While My Child Is in High School?

If your child is older, you still have options to help them save:

• Start a Roth IRA: Roth IRA accounts are great ways to retroactively pay for college tuition and fees because you can use them to pay for any student loans you or your child take out while studying. This option gives many families the flexibility to save while sending their children to the school of their choice.
• Open a 529 plan: You can also open a 529 plan at any time in your child’s life. While there might be some risks involved, it is a great way to save up some money to support your child’s college education while they are in high school.
• Encourage them to take AP classes: AP classes and grades are another way to help cut costs while your child is preparing for college. Good AP test scores can help your child test out of one or multiple required college courses, reducing the number of classes you need to pay for. They might even be able to graduate early.
• Help them seek scholarships: High school grades and practice SAT (PSAT) scores can help your child qualify for scholarships from their target schools and national organizations. Research potential scholarships and encourage your child to maintain the grades they’ll need to earn them.

Professional consultation can help you find and understand all your choices. Set up a meeting with a reputable investment advisor to investigate your options.

Talk With an Advisor

Knowing the ins and outs of all your college savings choices can be overwhelming. Talk with a financial advisor at Fort Pitt Capital Group to create a plan to save for college. Our experienced advisors will provide guidance even after your plan is in place. Contact us today to learn how we can help you with your investment goals.

The post How to Save for College appeared first on Fort Pitt Capital Group.

When considering investment strategies, exchange-traded funds and mutual funds are almost always included in the conversation. However, for investors, the distinction between these two investments can be blurry. Although they are similar, several key differences can contribute to both the performance of the investment and their suitability to an investor.

What Is an ETF?

An exchange-traded fund, or ETF, is a type of pooled investment designed to reduce investor risk. ETFs keep tabs on a pre-determined set of assets and loop them into one package. These assets can include stocks, bonds, commodities, and more. The ETF package is tradable like any stock.

When you buy into an ETF, you purchase a share of the fund provider’s assets and gain access to their index — the system for monitoring each component’s performance. Your share does not give you ownership of a particular asset, but you will receive dividend payments for each stock in the index.

Types of ETFs

Here are a few examples of ETFs:

• Bond or fixed-income ETFs: Investments in the S. bond market that diversify your portfolio and create stability.
• Commodity ETFs: Investments in alternatives to stocks like oil and gold.
• Currency ETFs: Investments in a single currency — such as the U.S. dollar — or multiple currencies to hedge risk.
• Equity ETFs: Investments that track numerous equities, such as businesses of different sizes or stocks from a particular country.
• Real estate investment trust (REIT) ETFs: Investments in a narrow or broad selection of real estate properties — shareholders receive at least 90% of the fund’s taxable income.

What Is a Mutual Fund?

A mutual fund is another vehicle comprising a pool of investments like stocks and bonds. In the case of mutual funds, a professional money manager oversees the allocation of assets. The money manager attempts to accrue the most successful assets, and they will adjust the pool over time. These pool will contain numerous securities in order to create the most sustainable investment portfolio for participants.

Through mutual funds, each investor experiences gains and losses proportionate to their investment. Participants receive income through capital gains distribution, while interest comes as a dividend. Mutual funds are subject to capital gains taxation.

Types of Mutual Funds

The following are some of the most common examples of mutual funds:

• Bond funds: Investments in government-issued debt that, in most cases, yield annual interest payments.
• Money market funds: Short-term government-issued debt investments that mature within a year.
• Stock funds: Corporate stock investments like long-term growth funds, income funds with regular dividends, index funds driven by specific markets, and industry-based sector funds.
• Target-date funds: Investments into bonds, stocks with more as part of a time-based strategy that works toward a retirement date.

Similarities Between ETFs and Mutual Funds

Here’s where ETFs and mutual funds align.

Different Investment Options

A wide range of ETFs and mutual funds are available. You can choose from strategies like total market, growth, high-yield, sector rotation, or almost anything else.

Diversification

ETFs and mutual funds invest in a wide range of individual stocks or bonds and occasionally more exotic investments such as commodities.

Professional Management

Both ETFs and mutual funds are managed by financial professionals who select what to invest in and charge a fee to manage the money.

Differences Between ETFs and Mutual Funds

While ETFs and mutual funds are similar in many ways, they are also quite distinct. Differences include the following.

Fee Structure

Due to the different management styles of the funds, the fee structure is often different. ETFs may have expense ratios (percentage of fund assets used for administrative, management, advertising, etc.) of 0.05% or even lower, while the average mutual fund has an expense ratio of 0.66%. The expense ratios of index mutual funds are typically more on par with ETFs.

Another possible fee with mutual funds is a sales fee or load. Suppose an investor has a short time horizon for their investment. In that case, mutual funds are generally not a good option because the load can eat away at any earnings.

Liquidity

As the name implies, ETFs trade on an exchange. This means that an investor can purchase or sell shares at the market price throughout the day. ETF shares can also be purchased on margin or sold short. In contrast, mutual fund shares trade once per day at the net asset value (NAV) set prior to trading. If you trade often or would like some control over the price at which you invest, ETFs may be the better option.

Management Style

ETFs are generally passively managed, while mutual funds are typically actively managed. As a result, many ETFs attempt to mirror a benchmark while mutual funds try to beat the market.

Minimum Investment

For an ETF, the minimum investment is the cost of a single share. For some ETFs, this can be lower than $50. Mutual funds often have investment minimums of a couple of thousand dollars or more. Especially for young investors, the investment minimums can make mutual funds a difficult investment.

Recurring Investments

Once invested in an ETF, you cannot make recurring investments or withdrawals. However, with mutual funds, both techniques are possible. Suppose you want to use a dollar-cost averaging strategy. In that case, mutual funds can be a very useful set-it-and-forget-it option.

Speak to a Financial Professional About Your Financial Situational

Suppose you are still unsure whether an ETF or mutual fund is the appropriate choice for your investment strategy. A financial advisor can analyze your situation and help suggest the best investment for your risk profile and goals. Browse Fort Pitt Capital Group’s financial services online or get in touch for more information.

About the Author:

Skylar Riddle, CFP®
Financial Advisor
Fort Pitt Capital Group, LLC
680 Andersen Drive, Pittsburgh, PA 15220
(412) 921-1822 | sriddle@orchid-ibex-388317.hostingersite.com

The post Exchange-Traded Funds (ETFs) vs. Mutual Funds appeared first on Fort Pitt Capital Group.

Protecting Elders From Financial Abuse

FINRA Rule 2165 allows financial companies, including Fort Pitt and the custodians holding your assets, to place a temporary hold on your account if there is a reason to believe financial exploitation is occurring. The hold is placed to allow the financial institution to contact someone the client trusts (the named trusted contact) and express concerns about the account holder.

It’s important to note that your trusted contact cannot place trades and doesn’t have control over your account. This doesn’t give them your power of attorney – it just provides an additional person that can be notified if/when financial exploitation is suspected. The trusted contact can either reassure you that the request is valid or address it with you directly. This is strictly to have an extra safeguard measure on your account. This individual won’t be asked day-to-day questions about your account and is not entitled to ask questions or obtain information about your overall portfolio.

Common Elder Fraud Tactics

Elder fraud crimes may start small and escalate over time. The most proactive way to protect seniors from financial abuse is to keep an eye out for typical fraud scenarios. Financial exploitation can occur through various methods depending on an individual’s understanding of technology or their level of dependence on caregivers.

Personal information is at the core of elder fraud schemes. An older adult can be susceptible to financial exploitation even if someone close to them checks in routinely. There are also instances when older individuals are unaware that family members, friends, or caregivers are stealing from them. It can be hard to bring justice to these situations because the victim is in disbelief or is too emotional to make accusations.

Another common source of elder fraud is new relationships. Those who live alone can fall victim to manipulation from others scheming for money. It is wise to keep financial documents and personal belongings in a safe. Older adults can still live independent lives with fewer risks of financial losses.

Reasons to Designate a Trusted Contact

Fort Pitt is always focused on doing what’s in our clients’ best interest, whether that means managing your assets according to the strategy selected or monitoring your account for unusual activity. As much as we are your financial council, we’re also relationship managers. As a part of building those relationships, we are apt to notice red flags because we know our clients. As a trusted part of their financial team, we add a layer of protection against unusual activity.

Our staff can help detect warning signs when something with an account appears off. Be the first to know if there is an increase in account traffic or a suspicious withdrawal. Trusted contacts can also help prevent drastic account actions in cases where someone is declining in mental or physical health.

We encourage investors to consider this recommendation and be proactive with their financial security. Within minutes, Fort Pitt can help you set up a trusted contact. The SEC has also created an Investor Alert to help investors be proactive about planning for and protecting their financial future.

Steps to Adding a Trusted Contact to an Account

Designating a trusted contact for a financial account is very straightforward. Simply identify who you want to name as your trusted contact, gather their contact information, and reach out to Fort Pitt and/or your custodian (e.g., Charles Schwab, Fidelity, or TD Ameritrade). Your client service team at Fort Pitt will be happy to help you complete the forms to set this feature up for you.

Contact Fort Pitt Capital Group for Financial Services

Fort Pitt Capital Group works with clients in most U.S. states. Our offices are located in Pittsburgh, PA, and Harrisburg, PA, and we can meet with clients in person or virtually to help them reach their financial goals. We are Registered Investment Advisors that look out for your financial security. Trust our team, which has more than 25 years of experience in the industry, to plan for your financial future.

Review our financial services online and contact us today with questions about trusted contacts for your account.

The post Compliance Corner: Name Trusted Contact to Help Protect Against Elder Abuse appeared first on Fort Pitt Capital Group.

If you want to have enough to live on in retirement, you need to invest. But many people are unsure how to start investing, nervous about losing their money, or wonder what not to do in the stock market.

While there are always ups and downs in the market, investing is the best way to beat inflation and watch your nest egg grow. The average annual return for the market is over 10% according to Investopedia.com. But whether they are newbies or have been at it for years, people make common mistakes when investing. Here are some things you can do to try to maximize your investments and avoid missing out on a sizable nest egg.

1. Going to Cash

People say cash is king, but it isn’t in terms of long-term growth. Going to cash can seem like a safe option when the market is volatile. Since savings accounts are FDIC-insured, there’s very little chance the amount in the account will shrink. However, there’s a clear difference between ‘going to all cash’ and ‘raising cash’ when managing risk. When we receive instructions to  ‘go completely to cash’ in a client’s portfolios, it’s typically triggered by an emotional reaction that can negatively impact portfolio outcomes. While it may seem logical to ‘go to all cash’ to avoid ‘crashes,’ the risk of mistiming the markets can potentially result in even more downside. However, it’s important to keep in mind that managing risk is not the same as avoiding risk and investing without the acceptance of risk is unavoidable. Just be sure to take actions to minimize the impact of the risk if things don’t work out as planned.

2. Recency Bias

Recency bias occurs when investors focus too much on contemporary events rather than historical patterns or things that might be more relevant to their situation. For example, after learning about a plane crash, people might hesitate to book a flight, even though statistics show only a slight chance of their flight crashing. Likewise, though shark attacks are rare, you might skip a beach vacation after watching a movie about sharks.

Thanks to recency bias, investors might believe that a market downturn will continue indefinitely, even if evidence suggests otherwise. Recency bias can also push people to buy “hot” stocks or invest in stocks that might not be the best for the long term.

One way to fight recency bias is to look at the big picture. The market typically bounces back after a downturn. In our experience, the best market days can come immediately after a sudden dip. Looking at the big picture can help you avoid acting emotionally, allowing you to build up your nest egg.

3. Confirmation Bias

A confirmation bias is when you look for evidence that supports your belief but avoid any contrary evidence. For example, children with faith in Santa Claus will search for proof to reinforce that belief, such as presents that appear under the tree on Christmas morning or cookies that someone has eaten.

Confirmation bias can be an investing mistake when it encourages people to cling to or avoid investments because of what they think they know. You might purchase too much of a particular asset due to confirmation bias because you only look at the good news and ignore warning signs.

Even successful investors can miss out on excellent opportunities due to confirmation bias. For example, suppose you got burned by purchasing stocks of a newly public company in the past. You might decide to avoid investing in companies that have recently gone public in the future. You could miss out on some gems by setting that rule for yourself.

4. Trying to Time the Market

“Buy low and sell high” is the gold standard of investing advice. However, some investors take that advice a little too literally, leading to stress and an overemphasis on trying to time the market. When investing, we believe that slow and steady progress will prepare you for retirement, rather than trying to buy the perfect stocks at the right moment. In addition, you’re more likely to see sustainable results if you take a long-term approach to investing. Invest over the years, focusing on long-term growth rather than sudden wealth.

During the pandemic, day trading became an increasingly popular hobby. However, many people have difficulty figuring out when to get out of hot stock. Many who try to time the market lack the knowledge of a company’s fundamentals, such as its business model and growth trajectory. “They’re just following a trend,” said Dan Eye, CFA, head of asset allocation and equity research at Fort Pitt Capital Group. “There’s more to the picture than just what a group is posting on Reddit. Many other things can move the market or a certain stock.”

5. Paying Excessive Fees

The majority of investors can’t enter the market without paying a fee to some type of financial intermediary. One common mistake made by investors is shrugging off what seem to be low fees, thinking that they won’t significantly impact their returns. However, what looks like a small amount can add up over time.

If you save $500 per month over 30 years and pay a 0.25% fee, you’ll pay more than $26,000 in fees over the life of your investment. On the other hand, if you invest the same amount but pay 2% in fees, you’ll cough up more than $178,000, putting a significant dent in your nest egg.

Review the fees carefully before you decide to invest. What a firm charges can vary considerably, but many charge some or all the following:

• Commission fees
• Transaction fees
• Expense ratio fees
• Sales load fees
• Administration fee
• Management fees

When possible, look for low-fee or no-charge investments.

6. Taking on Too Much Risk as You Near Retirement

Some investments are riskier than others. Often, riskier investments produce a better return. For example, stocks are more volatile than bonds but have a higher average return rate over time.

If you’re approaching retirement age and haven’t invested enough, investing in high-risk but potentially high-return investments can be tempting to make up for lost time. But as Cory Phillips, one of Fort Pitt Capital Group’s financial advisors, pointed out, “You literally can’t save yourself into prosperity in [a short amount] of time.”

Around five years before your ideal retirement date, move the majority of your retirement fund into low-risk investments. If you are not where you want to be financially at that time, talk with a financial advisor to see what the best approach would be in your situation. There are ways to grow your wealth even in retirement, read our cheat sheet to learn more.

7. Being Too Conservative When You’re Young

Thanks to compound interest and time, if you start investing when you’re young, you have more time to build up a decent nest egg. When the market is volatile during their youth, many young investors might want to try and play it safe and invest in more conservative, lower-risk assets, such as bonds.

Often, lower-risk assets also have a lower rate of return. You might not lose much from your investment, but you also aren’t likely to gain much. Because you have a longer period before you retire, you have more room to take risks when you’re young, such as buying stocks and potentially reaping a higher annual return.

If you’re concerned about choosing the right assets to invest in, a solid option is to find a financial advisor. Your advisor can recommend investments based on your retirement goals and risk tolerance. Read our blog post on when you should hire (or change) your financial advisor.

8. Not Automating Your Investment Contributions

Make it easy to invest in your future by putting your contributions on autopilot. Have your desired contribution amount automatically pulled from your paycheck and invested in your account whenever you get paid. If you have a 401(k) through your employer, you can set up automatic contributions that are taken out pre-tax.

Automating contributions can benefit you in multiple ways. For instance, if someone gave you a choice between spending $500 right now or saving that same amount for the future, most people would probably decide to splurge. However, if the money you’re investing goes directly into a retirement savings account, you won’t feel tempted to spend it immediately.

Making your contributions automatic also ensures that you’re saving for the future, whether retirement is decades or just a few years away. You don’t have to think about what you’re saving since it’s already taken care of.

You can set up automatic contributions in a few ways. If you have a workplace retirement plan, doing so can be as straightforward as contacting HR. If you want to invest outside a workplace plan, set up an automatic direct debit from your checking account for the days you get paid.

9. Panic Selling

Panic selling typically goes hand in hand with trying to time the market and chasing the hottest stocks. When people panic, they may sell off their shares of a particular stock all at once. The massive sell-off may push the stock price down, which can often trigger additional sales, further suppressing the price.

Panic selling is usually a desperate attempt by investors to stave off future losses. However, it’s a Catch-22 because panic selling pushes the stock’s price even lower. By trying to avoid a massive loss, investors create the problem they feared.

During a market panic, keep calm. Stop reading the news, and don’t constantly check your portfolios. If you’re feeling particularly nervous, you might want to contact your financial advisor to see what they think about the situation.

When it comes to long-term investing, holding your stocks, especially when there’s a lot of volatility in the market, is often the right move.

10. Not Meeting With a Financial Advisor

“Hold your advisors to the highest standard on everything from insurance to retirement. It is too vital to be complacent.

A financial advisor, particularly one who acts as a fiduciary, has a legal and moral obligation to recommend an investment approach in your best interest. Therefore, your financial advisor will account for your financial goals and targets when suggesting an investment plan. Additionally, an experienced professional can help you resist the urge to panic or make hasty moves in the market based on trends or “hot stocks.”

Not working with an advisor can seem like a way to save money, as you can avoid paying management fees. But in the long run, we believe the advice you get from a trusted fiduciary advisor is worth the price you pay.

Working with a financial advisor is about more than just investment planning. Here at Fort Pitt Capital, we can advise you on ten core areas that impact your financial health.

What Should You Consider When Choosing a Financial Services Company?

Not all financial services companies and advisors are equal. When choosing a company to work with, look for the following qualities.

• Fiduciary: A fiduciary must act in their clients’ best interests. Any investment advice you receive from a fiduciary advisor will depend on careful consideration of your goals and needs. You can rest assured that a fiduciary suggests a particular asset to you because they’ve done the work and believe it will help you financially.
• Fee structure: Look for a financial services company that uses a fee-based structure rather than a commission-based one. Fiduciaries must charge a fee for their services, as earning a commission on any stocks you buy is a conflict of interest.
• Transparency: Your financial advisor should be transparent in their dealings and willing to explain any concepts that you find confusing or murky.
• Registered investment advisor: Search for an advisor registered with the Securities and Exchange Commission for your peace of mind.

Talk With an Advisor From Fort Pitt Capital Today

If you want to get on track for retirement or need guidance on making your money and investments work for you, the advisors at Fort Pitt Capital Group can help. Contact us today to set up a free consultation to go over your financial goals and see how we can help.

The post 10 Investment Mistakes to Avoid appeared first on Fort Pitt Capital Group.

Why Is an Investment Plan Important?

Strategies allow investors to consider all the variables. This way, the investor can gauge the amount of capital they can invest while still meeting their other financial obligations. Additionally, investment plans recognize and weigh any risks. An investor with a plan will look at every corner of the market to decide which asset types are suitable for their situation.

Investment strategies help investors commit to a plan. Unprepared investors may withdraw from their assets when the market becomes volatile. Planning gives investors the structure they need to remain confident through the market’s fluctuations.

How Do You Make an Investment Plan?

Any individual can make an investment plan easily with the aid of an experienced advisor. The strategies that see excellent results follow some of these steps:

• Assess your current financial situation: Consider your earnings, savings, other assets you own, and taxes you must pay before investing capital. Many investments, especially long-term investments, require a large sum upfront.
• Consider your risk tolerance: New investors may have a higher risk tolerance because there is more time to recoup losses, whereas an investor who has built a portfolio over a long period may be less risk-tolerant.
• Set time-based goals: Knowing your financial situation and risk tolerance, establish the outcomes you’d like to see and when you’d like to see them. Having a time-based plan can improve your decision-making during the investment period.
• Choose your investment: Look at all available investment types — including stocks, mutual funds, real estate, and others — to determine which matches your financial situation, risk tolerance, and goals. A financial advisor can help you understand your options.
• Monitor your investment progress: After investing, track progress over time and adjust as necessary. Long-term investments require less active attention than short-term investments.

Investment Planning With Fort Pitt Capital Group

Fort Pitt Capital Group advisors collaborate with investors to develop and carry out well-structured plans. We can help you invest with confidence. Get in touch to discuss your financial needs and goals.

The post What Is an Investment Plan? appeared first on Fort Pitt Capital Group.

After ten years of making money in a bull market, we perhaps got a little too comfortable and forgot that markets do go down from time to time. Thankfully it’s not often, and over the long-term, you are rewarded for having stuck through it.

Remember, it is not about timing the market but rather time in the market. Staying calm during market declines is not easy, especially when the financial headlines are blaring words such as panic, collapse, death, and you see the images on TV all day every day. Our most basic instinct is to run away from what is causing pain and to abandon the markets, but that may only hinder your long-term financial plans.

Before taking any action, let’s take a look at some fundamental questions we need to answer first.

1. Has Your Long-Term Plan Changed?

Watching your assets decline 10%, 20% or even 30% or more is painful for all of us, there’s no question. Still, bear markets are part of the business cycle as much as bull markets. That is why it is so important to think rationally first, as there are very few times in our lives where a fear-driven decision was the good one. Therefore, if your long-term plan has not changed, while it may be difficult at the moment, doing nothing and waiting out a market downturn may be your best course of action.

2. What Are Your Immediate Needs for Cash?

If you depend on a portion of your investments to live on, you should already have enough cash and fixed income in your portfolio to meet your needs through this downturn. If something has changed, you will need to determine what steps you can take to try to meet your current needs while not too severely disrupting the long-term value of your savings.

If you don’t need any portion of your assets anytime soon, you may want to view this as a buying opportunity during a period when stock values have declined. Remember, stocks are generally used to meet long-term goals, not short-term needs. Overreacting to a stock market decline could bring permanent losses that you will regret when the market rebounds, as it will if history is any guide.

3.  Has Your Tolerance for Risk Changed?

You may have completed a questionnaire that helped develop a risk profile that measures how much risk you are comfortable taking. If you took that again today, you would likely have a different set of answers. Difficult markets help you find out what your true risk tolerance is.

If volatile markets bring too many sleepless nights, then you may want to create a path to dial your overall portfolio back to a more conservative stance recognizing that you may be giving up long-term gains.

Alternatively, if you view a major decline as an opportunity to buy stocks at a significant discount, you may be willing to take a more aggressive approach with your investments.

4.  Do Your Investments Match Your Goals?

If a market decline has revealed your true nature for risk, the next step is to make sure your current holdings are in-line with that. Remember, it’s important to ensure that your investments are aligned with your goals and the level of risk you need to take to achieve them.

It’s also important to remember that there are many types of risks, such as the risk you will outlive your money or not achieve your goals in the time you had hoped, not just a temporary decline in stock prices.

5. Are You Following a Plan That Can Get You Through All Market Environments?

It is easy to let the current market environment influence your investment strategy; in psychology, it’s called recency bias. In a bull market, the tendency is to load up on stocks. When stocks go the other direction, sell every stock you own. Neither of these may serve your long-term goal of building a nest egg to provide your retirement paycheck.

There are several principles you may want to follow that can help in uncertain times. Make sure you are diversified across the major asset classes, such as stocks and bonds, to help you optimize your risk/reward paradigm. Diversify within each asset class to different investment styles, such as growth and value, Large-Cap, Mid-Cap, and International. Lastly, and most importantly, rebalance your holdings to your desired allocation strategy. And with the moves we have recently seen, chances are a rebalance is needed to keep in line with your desired goals and risk tolerance.

Final Thoughts

Try not to look at the market every day; these are long-term assets and doing so may only amplify anxiety. Keep in mind that the stock price only matters when you buy and when you sell. During difficult times, it is a natural temptation to want to do something and reexamining your investment plan can help satisfy that urge and could prevent you from taking any action that would disrupt your long-term goals.

About Fort Pitt Capital Group

Fort Pitt Capital Group has managed investments on behalf of individuals, corporations, charities, foundations, and retirement plans since the firm’s inception in 1995. The firm has a powerfully personal, transparent approach to financial planning and wealth management. We provide every client with a customized Investment Plan based on their unique investment objectives, risk tolerance, existing assets, debts, and aspirations. Clients are assigned to a dedicated team of professionals who become a trusted resource of financial advice and information. The Fort Pitt Capital Group goal is to help each client establish a path for a meaningful life, stable wealth, and a lasting legacy. Below is more information on the services we oofer for individuals, for businesses and institutions, for retirement plan sponsors and for nonprofits and foundations.

For Individuals: Good advice is crucial when you are making decisions for your future. We specialize in highly personalized, solutions-based investment management for high-net-worth investors.

For a Business or Institution: We understand the unique challenges facing businesses today and can provide the guidance needed to be successful.

For Retirement Plan Sponsors: Get the most out of your retirement plan. We can help you design a hassle-free retirement plan solution. Our team ensures you are getting the recordkeeping, fiduciary oversight, consulting, compliance, and education support that you need.

For Nonprofits & Foundations:  Are your assets helping to fulfill your mission? You can’t fulfill your mission if you don’t have adequate resources, both now and into the future. We provide specialized solutions to help you grow and create positive, lasting change.

About the Author:

Nathan Boxx, AIF®, CFP®
Director of Retirement Plan Services
Fort Pitt Capital Group, LLC
680 Andersen Drive, Pittsburgh, PA 15220
(412) 921-1822 | nboxx@orchid-ibex-388317.hostingersite.com

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