If your student debt disappeared, would you save more for retirement?

By Alessandra Malito
Published June 29, 2019

Financial advisers see the struggles student loans have put on their clients, and said it’s gotten worse in the last few decades. “The realities are the American dream of going to college and getting an education have come with a hefty payment that students don’t realize until they start getting those statements postgraduation,” said Bill Brancaccio, co-founder of Rightirement Wealth Partners in West Harrison, N.Y.

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The House passed a bill that would allow more annuities in 401(k) plans — is that actually a good thing?

By Alessandra Malito
Published June 3, 2019

Defined benefit pensions, which are not as common in the private workforce anymore, were similar to an annuity, in that they provided guaranteed income. “Certain types of annuities utilized in retirement plans can replace the void left by the demise of traditional pensions,” said Byrke Sestok, president of Rightirement Wealth Partners in Harrison, N.Y.

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How to Break Free of Debt Without Paying a Price Later

By Amrita Jayakumar
Published May 10, 2019

Two strategies to pay off debt include the debt snowball and debt avalanche. With snowball, you pay off debts from the smallest amount to the largest by taking care of the little one first, while paying minimums on the others. Once it’s paid, you roll what you had been paying on it into your payments on the next debt, and so on.

The avalanche approach prioritizes paying off the debt with the highest interest rate first and paying minimums on others. A credit card would be paid off before a student loan, for example. “The snowball works better for behavioral purposes,” Brancaccio says. If you need quick wins to stay motivated, choose snowball. But if you’re committed for the long haul, use avalanche. “The avalanche mathematically will generally work out better,” he says.

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10 Tough Conversations You Need to Have Before You Retire

By CameronHuddleston
Published May 3, 2019

Talk to an Advisor About Whether You Can Afford to Retire
Before you retire, you need to figure out whether you can afford to stop working. “Many people get to the age they have picked for retirement and just proceed to notify their employer and proceed right along,” said Byrke Sestok, president of Rightirement Wealth Partners in White Plains, N.Y. Having a conversation with a financial planner can help you determine if you can retire.

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A Good Financial Checkup Starts with the Right Questions

Life and Money by Citi
By Kate Ashford
Published January 17, 2019

Do I have enough insurance? (And the right kinds?)

Many people under 40 are meeting some of their insurance needs through group benefits at work, says Byrke Sestok, a financial planner in White Plains, NY. But many also take what’s offered without adding on, which can leave them underinsured, particularly if they have a family. Along with basic property insurance, such as auto and home, consider whether you have enough (and appropriate) life insurance and disability coverage.

“Life insurance through work is typically either a flat $50,000 death benefit or one to two times base salary,” Sestok says. “This is not sufficient if you are a young homeowner or have children.” Purchasing additional group life insurance through your employer often costs more than buying a private term policy, so do the comparison.

If your employer offers it, group disability insurance typically covers 50% to 60% of your salary, which is a good start. Many group disability plans also offer the option to purchase additional coverage up to 66 2/3% of salary, and it’s a good idea to do so.

Talk to your advisor also about your home and auto insurance. “Do-it-yourselfers frequently go for the lowest premium they can find without understanding the lesser coverages,” Sestok warns.

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Holistic Tech: The future of advising is holistic tech

By Steven Morelli
Published: November 2018

“Most people don’t really know what their risk tolerance is until risk actually hits,” Sestok said, adding that good risk analysis software can yield surprises for advisors and clients. “You’ll find people who think they’re aggressive investors may not be able to tolerate more than a moderate style of investing, so you can right-size the portfolio.”

But he has also found that clients have become dangerously complacent: “It’s amazing how short-memoried people are. Basically, they’re moving up in a straight line.”

When Sestok reminds clients of the crash and they remember their portfolio had lost 35 percent of its value, he then asks them, “Well, should we take that in mind?”

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There is an error with regard to the title mentioned in this article. Byrke Sestok is a Financial Planner with Rightirement Wealth Partners and not an LPL Financial Advisor. Byrke is a registered representative with and offers securities through LPL Financial. Member FINRA/SIPC. Investment advice and Financial Planning offered through Rightirement Wealth Partners, a registered investment advisor and separate entity from LPL Financial.

Why Waiting to Refinance Could Cost You Big

By Casey Hines
Published: November 26, 2018

If your credit score has jumped since you took out your mortgage, you may want to see if you can qualify for a better interest rate. “I think that if you were in the 600s and you get your credit score up above 750, it’s probably worth taking a look at if the math is there,” Sestok said. Even if you’re not in a position to take out a shorter-term mortgage, a lower interest rate could boost your monthly cash flow through lower payments.

Sestok noted that you don’t need to complete a formal application to find out whether you’re likely to qualify for a better rate. A mortgage specialist will be able to evaluate your prospects before you commit to a refinancing application, so you won’t waste time if there hasn’t been enough improvement to impact your borrowing abilities.

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Third parties mentioned in this article are not affiliated with Rightirement Wealth Partners or LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Please consult your financial advisor for additional information concerning your specific situation.

This Bull Market Isn’t Dead Yet — Here’s How Investors Can Make the Most of It

The Street
By Taylor Nicole Rodgers
Published October 24, 2018

Though it is almost impossible to predict when the market will reach its top, certified financial planner William Brancaccio of Rightirement Wealth Partners recommends that investors who think a correction isn’t far off pull their money from vulnerable sectors.”If we are approaching a market top and you want to be protective you would want to overweight defensive sectors,” Brancaccio said. “Healthcare, Utilities and Consumer Staples would be a good starting point. Energy and Materials also tend to hold up during a market decline as well.”

There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Because of their narrow focus, sector investing will be subject to greater volatility than investing more broadly across many sectors and companies.

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Why Everyone Needs an Estate Plan

By Miriam Cross
Published: August 30,2018

I’m unmarried and childless, so I didn’t see the point in having a will until last year, when my mom planted the idea. Even now—like many of my peers—I am procrastinating. According to a recent survey from Caring.com, 78% of millennials don’t have a will. “People don’t want to talk about death,” says Byrke Sestok, a certified financial planner with Rightirement Wealth Partners in White Plains, N.Y. But if you die without a will, he says, the consequences for your loved ones can be disastrous.

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Third parties referenced in this article are not affiliated with Rightirement Wealth Partners or LPL Financial.

How Big Your Emergency Fund Should Be

By Alicia Adamczyk
Published April 23,2018

If you have a well-diversified portfolio (and what that looks like depends on your personal situation) and are ok with the risk, then some of your assets probably can stand in for an emergency fund. “Doing this is perfectly fine if your emergency fund makes up less than 20 percent of your taxable investments,” says Byrke Sestok, a Certified Financial Planner. “Above 20% you are probably taking too much risk.” You don’t need to have a pile of cash sitting in a savings account earning 0.01 percent interest or in a heap under your mattress.

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