Wealth Management Advisors Beverly MA

I hope you can help. What does an independent, savvy single woman do when most of her single income is tied up in a mortgage and living costs? On the one hand it's great to be financially independent, but it doesn't leave anything left over to socialize and meet potential partners. Any advice would be gratefully appreciated.

Emil Ronchi
Point Capital Advisory, LLC
(978) 740-0560
70 Washington Street, Suite 318
Salem, MA
Expertises
Ongoing Investment Management, Charitable Giving - Trusts & Foundations, Tax Planning, Retirement Planning & Distribution Rules, Retirement Plan Investment Advice, Investment Advice without Ongoing Management
Certifications
NAPFA Registered Financial Advisor, BS, CFA, CFP®, MBA

Robert Dubee
Quest Financial Services Inc.
(781) 224-3456
40 Salem Street, Building 2 Suite #3
Lynnfield, MA
Expertises
Ongoing Investment Management, Tax Planning, Estate & Generational Planning Issues, Financial Issues Between Generations, Middle Income Client Needs, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA/PFS, MBA, MST

Jeanne Sullivan
Financially In Tune, LLC
(781) 640-5698
607 North Avenue, Door 12, Floor 1
Wakefield, MA
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, High Net Worth Client Needs, Women's Financial Planning Issues, College/Education Planning, Special Needs Planning
Certifications
NAPFA Registered Financial Advisor, CFP®

George Paquin
Resolute Financial, LLC
(781) 246-8771
599 North Ave Suite 6
Wakefield, MA
Expertises
Insurance Related Issues, including Annuities, Ongoing Investment Management, Socially Responsible Investments, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, EA, MBA

Barbara Nevils
Nevils Financial, LLC
(877) 552-2638
607 North Avenue Suite 18
Wakefield, MA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MA

Geoffrey Loynd
Loynd Capital Management
(781) 639-1400
171 Pleasant St.
Marblehead, MA
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Advising Medical Professionals, Retirement Plan Investment Advice, Planning Issues for Business Owners, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFA, MBA

Michael Callahan
Infinite Wealth Management, Inc.
(781) 233-4138
5 Broadway, Building 1, Suite 205
Saugus, MA
Expertises
Planning Issues for Business Owners, High Net Worth Client Needs, Ongoing Investment Management, Retirement Planning & Distribution Rules, Tax Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®

Robert Ryan
Resolute Financial, LLC
(781) 246-8771
599 North Ave Suite 6
Wakefield, MA
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Insurance Related Issues, including Annuities, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CEBS, CFP®, ChFc, JD, MSFP

Charles Johnson
Resolute Financial, LLC
(781) 246-8771
599 North Ave Suite 6
Wakefield, MA
Expertises
Planning Issues for Business Owners, Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Real Estate Investments, College/Education Planning, Socially Responsible Investments
Certifications
NAPFA Registered Financial Advisor, CFP®

Neil Collins
Collins Financial Advisors
(781) 662-8227
One West Foster Street
Melrose, MA
Expertises
Ongoing Investment Management, Newlyweds & Novice Investors, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®

So Many Living Expenses There's no Money Left for my Life!

Q: I hope you can help. What does an independent, savvy single woman do when most of her single income is tied up in a mortgage and living costs? On the one hand it's great to be financially independent, but it doesn't leave anything left over to socialize and meet potential partners. Any advice would be gratefully appreciated... -KLM, Australia


 

First congratulations for being a home owner! That is very savvy of you. With that being said, you don't want to be in a situation where your finances are so tight there is no room to breathe or socialize!

Start by coming up with a realistic number of how much extra you need a month. Once you have that number, you can start looking for it in other places in your budget. Perhaps you can bring your lunch to work, so you have extra money to go out at night. Or maybe you don't need your cable TV or other monthly subscriptions we tend to forget about. You can also carpool to work to help with commuting costs.

The next place to examine is your fixed expenses. Do you have a gym you aren't using? Or are your car payments too high? If so, consider a less expensive model. If you carry credit card debt, the interest payments can really weigh you down as well. Deal with the debt and eliminate it as fast as you can.

On a final note, if your mortgage is too much to handle right now, perhaps you need to refinance and get a better rate. Or consider moving to another home where your payments will be less.

These are all great habits to integrate whether you are single or in a relationship!


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