When we think of financial advisors, we often picture professionals in suits with charts and financial plans. However, our first “financial advisor” is usually much closer to home - a parent or friend who influenced how we think about money. While they may not have been offering professional advice, their perspectives likely shaped your approach to saving and spending.

I can recall my mom putting money into various envelopes that were designated for budgeted expenses. Once that money was spent, it wasn’t replenished until the next payday. I learned that many of the things I thought I needed were really just “wants”. Whether your “financial advisor” was a parent urging you to save for a rainy day, or a friend reminding you to live within your means, they instilled values that often stick with us and help us be more responsible. My mom taught me to be frugal, but she also indirectly influenced me to work harder. I hated delivering papers early in the morning on the weekends, but it taught me the value of money and hard work, and it allowed me to obtain things that I wanted.

As we move into adulthood, friends and peers become influential as well. Watching a friend save for a big goal or invest wisely can encourage similar habits. Witnessing others’ poor financial decisions, such as frivolous deficit spending (i.e. credit cards), can serve as a warning to all of us. By understanding these early influences, you can better recognize how they shape your financial decisions today—and perhaps help you to become a positive financial role model for others.

Take care,

The Stratos Wealth Advisors Client Portal allows clients “real-time” access to the following:



• Up-to-date portfolio allocation, investment, and performance details
• Quarterly statements and Ken’s quarterly commentary
• Tax forms and monthly statements from Charles Schwab & Fidelity
• Financial Planning Summary - a bird’s eye view of progress towards financial goals

If you would like access to the portal, please call/text (916) 330-4898 or email teambielejeski@stratosadvisors.com and we’ll get you set up, or simply click this link: https://login.orionadvisor.com.

Enter your email for username and select “Forgot password?” to create one. It’s really easy!

Should I Pay Off My Mortgage?

Being unsure of whether to pay off your mortgage is a good dilemma to have - it means you’ve built up significant savings and have options. While being debt-free is an appealing goal for many, there are also practical reasons to consider keeping your mortgage. Let’s explore both sides to help you make a well-informed decision.

Paying off your mortgage can offer comfort, a sense of accomplishment, and savings equivalent to your mortgage interest expense. It also may reduce financial risk by lowering your monthly obligations, which could be especially beneficial as you approach retirement. Additionally, it may simplify your finances, leaving you with fewer bills to manage.

On the other hand, keeping your mortgage might allow you to pursue higher returns through investments, maintain liquidity for emergencies, and enjoy potential tax benefits. If you’ve locked in a low interest rate, you may prefer to keep that money working for you elsewhere. Ultimately, the right choice depends on your financial situation and long-term goals.

5 Easy Ways to Help Protect Seniors from Financial Abuse

While technology has helped to streamline the way we manage our money, it has also increased the risks involved - especially for our seniors. Whether it’s phishing attempts, fraudulent lotteries, or exploitation by deceitful caregivers, these threats are becoming more common and more sophisticated.

Here are 5 ways you can help protect your loved ones:

1. Facilitate Discussions: Prevention starts with awareness. Initiate regular family conversations about the various forms of financial abuse. 

2. Simplify Finances: This can involve reducing the number of credit cards, consolidating bank accounts, and setting up automatic bill payments. Simplification makes it easier for seniors to track and monitor their finances.

3. Regular Monitoring: It’s important to consistently review your financial statements for suspicious activity. Key warning signs include unusual withdrawals or transfers, missing deposits, odd charges, or changes in spending patterns. 

4. Secure Legal Documents: Ensuring that all legal documents (such as wills, trusts, and powers of attorneys) are regularly updated and securely stored is crucial. Engaging a trusted attorney or your financial advisor for periodic reviews helps maintain their relevance and understanding.

5. Exercise Caution in Sharing Information: Emphasize the critical importance of never sharing personal information over the phone unless they are the one initiating the call. Teach them how to verify the identity of callers and the legitimacy of their requests, even when they claim to represent well-known organizations.

By implementing these strategies, we protect our seniors from financial predators and empower them with the confidence and tools to manage their finances safely.

Source: Raymond James. "Federal Reserve rate cut helped propel markets forward" Raymond James, 30 Sept. 2024, https://www.raymondjames.com/commentary-and-insights/markets-investing/2024/09/30/federal-reserve-rate-cut-helped-propel-markets-forward. Accessed 13 Oct. 2024.

Connect with us!

Our mailing address is: 1540 Eureka Rd, Ste 101, Roseville, CA 95661

Contact us at: (916) 330-4898 or teambielejeski@stratosadvisors.com

Investment advice offered through Stratos Wealth Advisors, LLC a registered investment advisor. Please consult your financial advisor for further information.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Investing involves risks including possible loss of principal.

The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.