Monthly Newsletter
April 2019
At ML&R Wealth Management , we want to ensure our clients are In The Know. In this month's newsletter we have timely articles on exploring financial wellness through the ages as well as understanding good debt vs. bad debt. We are a firm that understands that managing your assets is about more than money. It is about empowering your future. At ML&R Wealth Management, we focus on you.
Financial Wellness Through the Ages
Matt Center , Wealth Management Associate

At ML&R Wealth Management, we have a popular adage that our advisors refer to in nearly every client meeting: “Focus on what you can control”. This demand sounds simple enough, but it can present many challenges to our clients as well as the rest of the world. It requires an individual to take an honest look at their life, seize control over some areas (personal financial habits), and then delegate responsibility in others (investment and taxation expertise). In this article, I’m going to touch on a few areas that individuals need to regulate on their own, namely budgeting, spending habits, and saving throughout each stage of life.

To get started, let’s walk through some steps young adults can take in order to ensure financial wellness. For those just getting started in their careers, financial independence can trigger any number of emotions such as freedom, enthusiasm, fear, or even a sense of being overwhelmed with responsibility. Just like any stage of one’s life, we should try as hard as possible to remove emotion from the decision-making process. Although a first paycheck may look nice when deposited, it’s as good as gone without a well thought out and realistic budget. I recommend building a budget in Excel. Microsoft has a plethora of budgeting tools available, but my personal favorite is downloadable right here . This template breaks down spending areas into great detail and even offers targeted versus actual spending results if you want to track your monthly budget closely. For those who prefer a more automated experience, I would recommend a downloadable mobile budgeting app that allows you to link your bank account, credit cards, and investment accounts for a clear picture of where your money is going. There are many apps out there, and I have found “Mint: Personal Finance & Money” best fits my needs. Setting a budget will require you to take an objective look at your spending habits and where they can be dialed back, as well as where you think you may be able to boost your standard of living.

Good Debt vs. Bad Debt
Vanessa McElwrath , Wealth Management Partner

It might sound strange, but not all debt is "bad." Certain types of debt can actually provide opportunities to improve your financial future. To make smart decisions about if, when, and how much to borrow, Advisor, Vanessa McElwrath , recently spoke with KVUE (check out the video below) to give some tips to help understand the difference between "good" and "bad" debt, and how to manage it.

Financial Wellness Q&A
In this section we will address common personal finance questions. Email if you have a question you would like answered.

Question: What is a Money Market?

Answer: Money Markets exist in a couple of different ways: Either an account at your bank that you can open, or a mutual fund that you can purchase through your brokerage account. In either case, they accomplish the same goal: providing an extremely safe and liquid medium to hold cash and earn higher interest rates than most checking and savings accounts. These accounts generally earn better rates of return than savings accounts because instead of loaning out the cash that you deposit, the financial institution has the ability to invest in low-risk assets such as short term CDs and government securities. 
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About ML&R Wealth Management:
At ML&R Wealth Management, we take investing personally. Your ML&R Wealth Management advisor will work to develop a lasting relationship with you, keeping in touch to understand your changing goals and to provide an asset management strategy to help achieve them. Whenever you need sound financial advice, you have a direct line to a trusted advisor.

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