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☆ Investors should stay with their long-term financial plans no matter who is in the White House, advisors say
▼ + stars: | 2024-11-11 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +2 min

Yet, Wall Street's reaction to the election outcome does not reflect how many Americans feel about the state of their personal finances, some financial experts say. Feelings, however, should not overshadow anyone's focus when assessing the potential impact of a second Trump presidency when it comes to finances, advisors say. "Stick to your long-term financial plan, adjusting only when your personal circumstances or goals change." However, improving your personal economy is possible by taking better control of your money, experts say. Increase savings goals Boost savings goals in accounts that also offer tax breaks.

Persons: Sharon Epperson, Stocks, Donald Trump, Rianka Dorsainvil, Dorsainvil, Roth, Roth IRAs, you've, Lee Baker, Joe Biden Organizations: Federal Reserve, Dow Jones, Nasdaq, Trump, YGC, CNBC, Financial, U.S, Reuters Locations: Atlanta

☆ Here's what a new Trump administration could mean for your money, financial advisors say
▼ + stars: | 2024-11-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Leah Millis | ReutersNow that Donald Trump has been elected president, many individual investors are wondering what that means for their money. Yet, when it comes to long-term performance of the markets and policies that Trump proposed on the campaign trail, financial advisors say it's best to take a wait-and-see approach before making any big money decisions. Lee Baker, a CFP and owner of Claris Financial Advisors in Atlanta, said he's also told clients not to make wholesale financial changes now. Many investors expect Trump to lead with faster economic growth and more market-friendly policies, said Francis during a Friday webcast on what Trump's presidency could mean for investors' money. While those policies would put more money in Americans' pockets, Francis noted, other experts say it's too soon to count on those changes.

Persons: Donald Trump, Leah Millis, Trump, Jude Boudreaux, Boudreaux, Lee Baker, he's, Baker, I've, Stacy Francis, Francis Financial, Francis, it's, Marguerita Cheng, Cheng, Trump's, David Haas, CNBC.com Organizations: Trump, U.S . Capitol, Reuters, Dow Jones, CNBC FA, Claris Financial, Francis, Blue, Global Wealth, Social Security, Cereus Financial, Security Locations: U.S, Washington , U.S, New Orleans, Atlanta, New York City, Gaithersburg , Maryland, Franklin Lakes , New Jersey

But many people are still wondering, what does a rate cut mean for my money? For those who’ve been waiting it out, the rate cut “will instill some hope in folks,” said Elizabeth Renter, senior economist at NerdWallet. Consider your (improved) debt repayment optionsThis week’s rate cut was good news for those struggling to unload themselves of credit card debt. They’re a popular savings instrument when interest rates are high, and as most economists expected, CD rates have already started declining since the Fed’s interest rate cut. “This rate cut is not something that should trigger you to go make any drastic changes to the overall direction of your portfolio,” he added.

Persons: Jerome Powell, ”, Elizabeth Renter, Michele Raneri, “, “ It’s, Rodney Lake, It’s, cardholders, Now’s, Lake, don’t, Freddie Mac, ” Renter, they’ve, Raneri, Lee Baker, there’s, Bankrate, Baker, it’s, —, “ Don’t Organizations: NerdWallet, TransUnion, Federal Trade Commission, GW Investment, George Washington University School of Business, Apex Financial Services, P Locations: U.S

☆ How investors can prepare for lower interest rates: It's 'like getting a haircut,' advisor says
▼ + stars: | 2024-08-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Lower interest rates are "generally positive for stocks," said Marguerita Cheng, a CFP and chief executive of Blue Ocean Global Wealth, based in Gaithersburg, Maryland. Considerations for cash, bonds and stocksFalling interest rates generally means investors can expect lower returns on their "safer" money, advisors said. High interest rates have meant investors enjoyed fairly lofty returns on these lower-risk holdings. Winnie Sun co-founder and managing director of Sun Group Wealth PartnersHowever, such returns are expected to fall alongside declining interest rates, advisors said. "They'll be crying in six months when interest rates are a lot lower," she said.

Persons: Jerome Powell, Andrew Harnik, Winnie Sun, Lee Baker, Powell, Stephen Brown, Marguerita Cheng, Sun, Powell didn't, Ted Jenkin, Carolyn McClanahan Organizations: Getty, Sun Group Wealth Partners, Financial Advisors, Finance, North, Capital Economics, Blue, Sun Group Wealth, Planning Partners Locations: Irvine , California, Atlanta, Jackson Hole , Wyoming, U.S, North America, Gaithersburg , Maryland, Jacksonville , Florida

☆ How to protect your portfolio against recent volatility and selling pressure
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to protect your portfolio against recent volatility and selling pressureLee Baker, Owner and President of Apex Financial, discusses how to protect your portfolio from an economic downturn.

Persons: Lee Baker Organizations: Apex Financial

☆ Baker: Doubt a rate cut by the Fed will come anytime before September
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Doubt a rate cut by the Fed will come anytime before SeptemberLee Baker, Owner and President of Apex Financial, discusses the trading day and week ahead.

Persons: Lee Baker Organizations: Fed, Apex Financial

☆ I lost my wallet. Here's what experts say I should do to protect my identity and money
▼ + stars: | 2024-07-08 | by ( Genna Contino | ) www.cnbc.com time to read: +3 min

Eventually, tired from my frantic searching, I accepted defeat and contacted the bank to lock my cards. After losing my wallet, I decided to ask a few sources what course of action I should take to protect my money and identity. I then made a list of everything that was in my wallet ... and that was the easy part. Soon after requesting a replacement debit card, Bank of America sent me a virtual one that I was able to add to my Apple wallet and use immediately. Other tips and tricks to manage a lost wallet

Persons: hadn't, I'm, Lee Baker, it's, you've, Baker Organizations: Westend61, CNBC, Metropolitan Transportation Authority, North, North Carolina DMV, Bank of America, Apex, CNBC's Locations: New York, New York City, North Carolina, Atlanta

☆ Home equity is near a record high. Tapping it may be tricky due to high interest rates
▼ + stars: | 2024-06-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

But tapping it may be tough due to high interest rates, according to financial advisors. Reverse mortgageA reverse mortgage is a way for older Americans to tap their home equity. A reverse mortgage is likely best for people who have much of their wealth tied up in their home, advisors said. A home equity conversion mortgage (HECM) is the most common type of reverse mortgage, according to the Consumer Financial Protection Bureau. watch nowA reverse mortgage is available as a lump sum, line of credit or monthly installment.

Persons: Selma Hepp, Hepp, Lee Baker, Atlanta . Baker, Kamila Elliott, Grace Cary, Elliott, Baker, Alexander Spatari, Cash Organizations: Getty, Apex Financial Services, Collective Wealth Partners, Consumer Financial, Bureau Locations: Cultura, Atlanta .

☆ Bitcoin ETFs aren’t winning the hearts and minds of financial advisors
▼ + stars: | 2024-05-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTOmer Taha Cetin | Anadolu | Getty ImagesA major thesis around bitcoin ETFs was that financial advisors needed regulated funds like them to direct their wealthy clients to invest in bitcoin. For one, bitcoin ETFs have been hailed as the most successful ETF launches in history, with BlackRock's iShares Bitcoin Trust (IBIT) reaching $20 billion in assets under management this week, even with advisors sitting out. CNBC spoke with a dozen members of CNBC's Advisor Council, which includes Baker, to learn why so many financial planners are still down on bitcoin and bitcoin ETFs, and what could cause them to change their tune. Many hope consistent flows into bitcoin ETFs over the years can lower that volatility, but for now, it's still a deterrent for some. "Financial advisors now have a way to give clients access [to bitcoin] that's safe, reliable and regulated," said Bradley Klontz, managing principal of YMW Advisors in Boulder, Colorado.

Persons: Omer Taha Cetin, BlackRock's, I'm, Lee Baker, Baker, Ted Jenkin, —, they're, It's, it's, Bradley Klontz, Cathy Curtis, bitcoin Organizations: Anadolu, Getty, Apex Financial Services, CNBC, YMW Advisors, Partners, Curtis Financial Locations: bitcoin, Atlanta, Boulder , Colorado, Oakland , California

☆ This is the easiest way for newbies to start investing, financial experts say
▼ + stars: | 2024-03-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

For many people, investing is a necessity to grow one's savings and provide financial security in retirement. A 'fabulous, simple solution' for beginnersTarget-date funds, known as TDFs, are the simplest entry point to investing for the long term, according to financial pros. TDFs are based on age: Investors choose a fund based on the year in which they aim to retire. Other 'solid choices' for novice investorsInvestors who want to be a bit more hands-on relative to TDF investors have other simple options, experts said. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

Persons: Warren Buffett, Berkshire Hathaway, Christine Benz, Lee Baker, Baker, Carolyn McClanahan, Benz, Charles Schwab, Rowe Price, it's, McClanahan Organizations: Getty, Berkshire, Fidelity Investments, Morningstar, Apex Financial Services, Investors, Benz, Planning Partners, Fidelity, Vanguard Group, BlackRock, Finance, Young Locations: Atlanta, Jacksonville , Florida, U.S

☆ Two financial advisors discuss expectations for September CPI and its impact on the market
▼ + stars: | 2023-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo financial advisors discuss expectations for September CPI and its impact on the marketKevin Caron, Senior Portfolio Manager at Washington Crossing Advisors, and Lee Baker, Owner and President of Apex Financial, discuss CPI, stocks, and the impact of rising rates.

Persons: Kevin Caron, Lee Baker Organizations: Crossing Advisors, Apex Financial

☆ Top advisors says people are worried, but they don't need to make major changes to their portfolio
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop advisors says people are worried, but they don't need to make major changes to their portfolioLee Baker of Apex Financial and Eric Beiley of Steward Partners discuss what may drive the markets in the final few months of the year in this new higher rate environment.

Persons: Lee Baker, Eric Beiley Organizations: Apex Financial, Steward Partners

☆ 3 investing tips as the federal debt ceiling 'X-date' approaches
▼ + stars: | 2023-05-27 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Yellow Dog Productions | Getty ImagesPreston Cherry, a certified financial planner and founder and president of Concurrent Financial Planning in Green Bay, Wisconsin, said the debt ceiling has led to "anxiety stacking" among investors with existing financial concerns. While it's tough to predict how the stock market may respond to the coming debt ceiling negotiations, experts have tips for investors. Avoid 'emotional selling'When facing market volatility from events like the Russia-Ukraine war or the debt ceiling standoff, Cherry said it's important to avoid "emotional selling," especially when the market plunges. These events do occur, so we want to help mitigate the emotional and financial effects. "In the grand scheme of things, I think [the debt ceiling] will get worked out," Baker said.

☆ Baker: Stock market volatility has sparked renewed interest in bonds
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Stock market volatility has sparked renewed interest in bondsLee Baker, Apex Financial Owner and President, discusses alternatives to stocks.

☆ 31% of new crypto buyers influenced by friends. Here’s why that can be 'a horrible idea,' advisor says
▼ + stars: | 2023-04-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

"I don't imagine friends are talking about when they lost money," said Lee Baker, a certified financial planner and founder of Apex Financial Services in Atlanta. "The sexy sells," added Baker, a member of CNBC's Advisor Council. On one hand, crypto can be an on-ramp to more traditional investing — which is generally a good outcome, Mottola said. There's some evidence of this happening: 36% of new crypto investors said their purchase made them more interested in investing in the stock market, the study found. However, "the friends recommending [crypto], the sources of information on social media, may not be reliable," Mottola said.

☆ Financial experts share their greatest money regrets — all have one thing in common
▼ + stars: | 2023-04-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

Here, CNBC Financial Advisor Council members share their greatest money mishaps, and what they do differently now. "For my first five years in financial planning, I made the same amount of money." Money mistake: Leasing 'too much' carThianchai Sitthikongsak | Moment | Getty Images"My biggest money mistake was back when I was working at Smith Barney as an early financial advisor," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California. So, Sun, a member of the CNBC Financial Advisor Council, splurged on her dream car. Money mistake: Unloading inherited stock "My wife had inherited shares of Phillip Morris stock from her father," said Lee Baker, a CFP based in Atlanta.

☆ Baker: First Republic has been a victim of guilt by association but is still an attractive stock
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: First Republic has been a victim of guilt by association but is still an attractive stockApex Financial Owner and President Lee Baker discusses the markets and trading day ahead.

☆ What Signature Bank, Silicon Valley Bank failures mean for consumers and investors
▼ + stars: | 2023-03-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

A customer stands outside of a shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty ImagesAfter two bank failures and dramatic moves from U.S. regulators to protect depositors, financial advisors have a message for consumers: Don't panic. The U.S. government on Sunday approved plans to safeguard depositors and financial institutions affected by the collapse of Silicon Valley Bank on Friday. watch nowWhile futures initially jumped Sunday evening following the announcement from regulators, bank stocks fell as the market opened Monday. Most consumers don't need to worry about depositsLee Baker, a certified financial planner and owner of Apex Financial Services in Atlanta, said most consumers don't need to worry about their bank deposits.

☆ Families get these 3 things wrong about estate planning, advisor says
▼ + stars: | 2023-03-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: 1 min

In the wake of the pandemic, there's one topic that's suddenly a lot less taboo, according to Lee Baker, a certified financial planner based in Atlanta. "We get more calls around estate planning." said Baker, founder, owner and president of Apex Financial Services and a member of CNBC's Advisor Council. However, there are three things families are often initially wrong about, Baker noted. They believe "it's a daunting undertaking, it's only for rich people and it costs a ton," he said.

☆ Baker: The bond market has not changed its mind about the odds of a recession
▼ + stars: | 2023-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: The bond market has not changed its mind about the odds of a recessionApex Financial's Lee Baker discusses what to watch in the markets.

☆ 2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023
▼ + stars: | 2023-01-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Interest rates started 2022 at rock-bottom — where they'd been for the better part of the time since the Great Recession. Bond prices move opposite interest rates — as interest rates rise, bond prices fall. Duration is a measure of a bond's sensitivity to interest rates and is impacted by maturity, among other factors. We can see why long-dated bonds suffered especially big losses in 2022, given interest rates jumped by about 4 percentage points. The traditional dynamics of a 60/40 portfolio — a portfolio barometer for investors, weighted 60% to stocks and 40% to bonds — will likely return, advisors said.

☆ Trump isn't the golden ticket for 2024, but don't count him out, wealth manager says
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump isn't the golden ticket for 2024, but don't count him out, wealth manager saysPresident of APEX Financial Services, Lee Baker, discusses what Raphael Warnock winning the Georgia Senate runoff election means for legislation in the U.S. and the 2024 presidential election.

☆ Baker: Recent stock rallies do not signal the beginning of a new bull market
▼ + stars: | 2022-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Recent stock rallies do not signal the beginning of a new bull marketLee Baker, Owner and President of Apex Financial, joins Worldwide Exchange to discuss his market outlook and investment strategy.

With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we're heading for a prolonged economic downturn. "I think we have to be defensive," said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. While it's impossible to predict exactly what will happen, financial advisors are preparing clients for whatever may be on the horizon. But Johnson has already warned clients about the possibility of more volatility, pointing to the Fed's rate hikes. There may be 'good opportunities'While Baker doesn't suggest major changes, there may be "good opportunities" — such as real estate — amid relatively high inflation due to yield and appreciation, he said.

☆ Baker: Equity markets are going to look a little rough in this rising rate environment
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Equity markets are going to look a little rough in this rising rate environmentLee Baker of Apex Financial discusses whether the Federal Reserve is at risk of overdoing it by raising rates too high and too fast.

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