2. About Lake Road Advisors
2
Lake Road Advisors, LLC is
Fee Only Independent
Registered Investment
Adviser. The Firm was
founded in January 2016
with the goal of simplifying
our clients complex financial
lives.
Picture of Office/Logo
3. What is important?
3
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Know your Values
• Before you can manage your finances, you must know what
is important you!
• Work Life Balance
• Location of Work
• Career
• Flexibility
• Understand your Values allows you to build Goals
• Regardless of your Goals, what can we do to improve our
chances of achieving them?
4. Keep these in mind!
4
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
How Do We Achieve Our Goals?
• SMART Goals
• Specific
• Measurable
• Achievable
• Break down into “Baby Steps”
• Relevant
• Time Bound
• Start NOW
• Focus on long term process, not short term outcomes
5. What kind & how much debt do you have?
5
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Where Do You Stand?
• The average Class of 2016 graduate has $37,172 in student
loan debt
• At a 6.8% interest rate that is a payment of $427 per
month for 10 years
• Total Interest = $14,161
• Total Payment = $51,333
6. Foundation of Financial Planning:
Balance Sheet & Cash Flow Statement
6
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
How Do I Know?
• Balance Sheet
• Assets - Liabilities = Net Worth
• Snapshot of a point in time
• May be negative for many of you (that’s ok!)
• Cash Flow
• Monthly Income – Monthly Expenses
• How are you doing now? Positive or Negative
• Only way to increase is make more or spend less
• How Do You Keep Track Of This?
• Action Item: Set up a MINT account!
7. Strategies for healthy financial living
7
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Where Do You Want To Be?
• Healthy Spending
• 50/30/20 Rule
• Non-Discretionary
• 50% Needs - Student debt, housing, food
• Discretionary
• 30% Wants
• 20% Savings/Investing
• Your resources are limited, Prioritize and spend inline
with your goals
• Live Within Your Means
• The unexpected will happen!
• Car breaking down, basement flood, children
8. Strategies for healthy financial living
8
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Where Do You Want To Be? (cont.)
• Invest For Your Future Now
• You can borrow for school but not for retirement
• Biggest advantage = Time
• The Compound Effect
• Avoid Income Creep
• Establish the healthy spending habits now
• Don’t Rush To Buy A Starter Home
• Hidden costs of ownership
• Transaction costs
• Limiting flexibility
• Emergency Fund
9. How do we remain on target?
9
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Stay The Course!
• Create/Amend New Habits
• Habits – “The Power of Habit” by Charles Duhigg
• The Habit Loop – Cue, Routine, Reward
• Automate
• Savings and Investing – “The Compound Effect” by
Darren Hardy
• “Out of sight, out of mind”
• Make Decisions Binary
• Ask yourself “Does this align with my values and goals?”
• Yes or No and move on!
• Have an Accountability Partner
• Spouse, Friend, Advisor
10. Where can I go?
10
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Most Importantly Educate Yourself!
• Student Loans
• Studentaid.ed.gov
• Studentloans.gov
• Studentloanhero.com
• Budgeting
• Mint.com
• Youneedabudget.com
• Financial Planners
• Look for a CFP®
• XY Planning Network
• Books
• The One Page Financial Plan & The Behavior Gap by Carl Richards
• A Wealth of Common Sense by Ben Carlson
11. Action you can take now!
11
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Recap
• Know your values and goals
• Understand your current situation
• Balance sheet & cash flow
• Develop healthy spending habits that align with your goals
• Stay the course
• Educate yourself and your family
13. Learn more at:
13
Think
Develop Financial
Goals & Priorities
Plan
Estate & Financial Planning
Tax
Active Management
& Minimization
Investing
Asset Allocation
& Location
Execution
Strategy Implementation
Risk Management
Budget
Cash Flow Management
Thank you!
• www.lakeroadadvisors.com
• Follow me on Twitter @psydlansky
• Connect on LinkedIn at
• www.linkedin.com/in/psyd1
14. Lake Road Advisors, LLC is an Investment Adviser registered with The State of New York. All views, expressions, and opinions included in this
communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial
instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not
guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time,
have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions.
Please contact us at 607-821-1033 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any
restrictions on the management of the account or modify existing restrictions. Additionally, we recommend you compare any account reports
from LRA with the account statements from your Custodian. Please notify us if you do not receive statements from your Custodian on at least
a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website,
www.lakeroadadvisors.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual
basis.
Disclaimer
14
