Quoted: Member Media Roundup

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XY Planning Network members regularly serve as subject matter experts for major media outlets—impressive, we know. (We help make connections by inviting our journalist friends to submit requests for XYPN members' expert input using our media portal.) We've compiled this roundup of recent articles featuring some superstar XYPN member advisors.


10 Young Advisors To Watch

Financial Advisor Magazine, featuring XYPN members Sweta Bhargav, Shane Mason, Matthew Ricks, and Jeremy Walter

Covid-19 might have pushed the world in a new direction, but many young financial advisors were already headed there. They were already rethinking their values in life as they related to money—while their clients were doing the same. They were already moving to work from home. They were already facing clients on Zoom. Already asking, “Why should I sacrifice my relationship with my kids for my career?” Asking, “Does the money serve me, or do I serve the money?”

Our 2022 “Young Advisors to Watch” list shows that the new generation of professionals are still pondering questions. One advisor went out on his own because he wasn’t satisfied staying away from his three kids and he felt he was pulling extra hours so his former boss could pursue growth for its own sake. Another advisor tried doing accounting for low-income people in Brooklyn after knowing what it was like to do it at a Big 4 accounting firm. Yet another advisor on this list came from St. Lucia at age 7, knowing poverty firsthand, but learned the ropes in tech to help millennials in that space.

Woven through these tales are episodes of advisors asking questions and taking chances. Why not run off with a rock band for a few months? Why not shut down your business to new clients just a few years after launching so you can manage your workload? Why have an office at all? Why not have an inbound marketing plan rather than trying hard to sell yourself to people?

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4 Tips For Strengthening Your Finances Before A Recession Hits

Forbes, featuring XYPN member Jay Zigmont

Recently skyrocketing oil and gas prices, continued record inflation, and the first of a potential slew of interest rate hikes have led some experts to wonder if a recession is on the horizon.

Although the Covid-19 recession from February to April 2020 was significantly shorter than the average recession (the average is 11 months according to a Jan. 2022 report from the Congressional Research Service), there have been long-ranging financial effects for many Americans.

Some households were able to weather the pandemic thanks to job security and stimulus payments. Others may still be rebuilding their finances in a post-vaccination landscape.

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How Our Family Fights Inflation

Kiplinger, featuring XYPN member Eric Roberge

Whether you’re 28 or 68, you’re staring down a surge in consumer prices. But for many millennials, the precipitous rise in inflation—which reached an overall rate of 8.5% in March—has been especially steep.

Consumers ages 35 to 44 recently experienced inflation at a higher rate than other age groups, with those who are 25 to 34 close behind them, according to a Wells Fargo study. Millennials typically dedicate a greater share of their spending than other generations to certain expenses that have been increasing most rapidly, such as rent and home purchases, used cars, and gas. Your grocery bills are likely getting bigger, too—especially if you’re feeding a growing family.

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Becoming an Investor in Real Estate Rental Properties

MoneyGeek, featuring XYPN member Danielle Harrison

Rental properties can be a great source of income that appreciates over time. According to data from the Census Bureau, there are about 48.2 million rental units in the United States. Individual investors own about a third of those units, including a large number of single-family and duplex rentals.

Before you dive into rental property investing, there are several items, costs and expenses, such as how much home insurance do you need or if you need renters insurance, to consider.

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Where to Put Your Money When Inflation Is on the Rise: 5 Expert Tips

Fatherly, featuring XYPN member Jay Lee

rying to time the markets is often a fool’s errand. If you need proof, just look at the ‘90s dot-com bust or the 2008 housing crash. But reacting to what you all-but-know is going to happen? That’s called being savvy. In December, the Federal Reserve released an economic forecast indicating it could raise interest rates as many as three times this year. And let’s face it — there’s only one direction for them to go at this point.

So the question to ask is, where is the best place to put my money right now, given these expected rate increases and the inflation that’s already eating into cash reserves? For insight, we reached out to several financial advisors to see what savvy investors should do. Here’s what they recommend.

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Financial Planning Challenges Facing Foreign-Born Individuals

Advisor Perspectives, featuring XYPN member Jane Mepham

I’m one of the 45 million foreign-born individuals who now call the U.S. home. I moved to this country over 25 years ago to pursue a degree in computer science. I knew enough about budgeting, but struggled with financial decisions from day one, as this was a completely new system to me.

There were simple questions, ranging from banking to credit history to car loans. Like any newly arrived immigrant, I relied on the network of friends that I was making (mainly fellow immigrants), to figure things out.

A big challenge revolved around the language, specifically the financial terminology, used in the U.S. versus my home country.

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Why Women Make Good Investors

Sound Dollar, featuring XYPN member Melissa Walsh

Most women insist they don’t have investing chops.

Just one in three women recently surveyed by Fidelity said they feel confident in making investment decisions.[1]

That’s in line with another survey conducted by the FINRA Investor Education Center and the George Washington University School of Business Global Financial Literacy Excellence Center. For comparison’s sake, about half the men in the FINRA survey reported they are comfortable making investment decisions.[2]

The news was a bit better when Merrill Lynch Wealth Management asked the investing confidence question a few years ago. About half of women said they felt good about their investing capability, but there was a whiff of dread: Even more women—61%— said they would rather talk about their own death than money.[3]

Yet that lack of investing confidence doesn’t translate to poor results. The cold hard truth women need to face up to is that they are plenty good long-term investors.

Good as in better than men, on average. Yes, better.

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How to take advantage of rising interest rates

CNN Business, featuring XYPN member Lacy Rogers

As expected, the US Federal Reserve on Wednesday hiked its key short-term interest rate for the first time since 2018.

The central bank is expected to raise rates several more times this year, but in small increments. Since those hikes are coming off a 0% rate today, by early 2023 the US economy is still likely to be operating in a fairly low rate environment, relatively speaking.
"When we talk about rates going up, they're returning to pre-pandemic levels -- the Fed is slowly reversing the cuts they put into effect in 2020," said Greg McBride, chief financial analyst at Bankrate.com.
Once they do, McBride added, "they may have to go higher than that to tame inflation." But he doesn't expect that to happen this year.

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How Much Money Do You Really Save by Not Having Kids?

The Wall Street Journal, featuring XYPN member Jay Zigmont

Traditional financial plans often boil down to worrying about children: How much to save for college, how much insurance to buy or how best to set up wills and trusts. That playbook doesn’t work for people who choose not to have kids.

A growing number of child-free adults in the U.S. are seeking advice about spending, saving and investing tailored to their situation. Financial advisers have taken notice, and some are building practices around serving their needs.

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XY Planning Network's media request program is available to all XYPN advisors as a member benefit. Interested in joining our community of legendary expert advisors? Check out our Member Benefits Directory for the full scoop on how sweet it is to be a member.  

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