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About
Stephen Kates is a CFP® professional and personal finance expert specializing in financial planning and education. Stephen is the founder of Clocktower Financial Consulting, LLC, and was previously the Head of Financial Planning for Advisor.com. With over 15 years of experience in the financial industry, Stephen focuses on creating targeted consumer finance solutions for individuals, families, and business owners. He leverages his passion for financial literacy to simplify complex topics and make financial planning accessible to everyone. As an industry expert, Stephen writes and speaks about personal finance, retirement, and income planning fundamentals. He has appeared on national broadcasts, including NBC, CBS, and Fox Business, and has been quoted in leading digital publications such as CNET, International Business Times, and Newsweek. His experience in financial planning and fintech has made him a sought-after resource for other advisors, retirees, and first-time savers. Stephen lives and works in Charlotte, NC, with his wife Kate and their two children.
Stephen Kates
Published content
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Budgeting is only effective if you’re able to make it work for you long term. Getting on a budget can be one of the most effective ways to start taking control of your finances. Whether you take a detailed spreadsheet approach, let an app do the work for you or leverage simple pen and paper, there’s no one correct way to do a budget as long as your system works well for you. However, many people who try tackling their first budget may quickly give up or find it too difficult to keep up with long term — but this doesn’t mean budgeting in general doesn’t work for them. According to the financial advisers and experts of Kiplinger Advisor Collective, you may just be going about it with the wrong plan or mindset. If you’re struggling to budget or find that you’re not hitting your goals as quickly as you thought you could, consider the following six signs that your budget or financial plan may not be working for you — and what you should do to fix it.
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Be someone your clients can trust and learn to lean on for some of their most personal decisions. Growing at a rate much faster than the average rate for all other occupations, the job outlook for personal financial advisers entering the field is a bright one, according to the U.S. Bureau of Labor Statistics. And while no industry seems immune from technological and cultural changes, many of the factors that made someone a successful financial adviser years ago are likely to make someone successful now. It’s all about understanding your clients and offering a service they can’t get from anyone else. Having each been in the financial industry for some time now, the advisers and financial experts of Kiplinger Advisor Collective know what it takes to build successful businesses in the advising space. Below, they offer their top tips for anyone new to the industry on what they can do to set themselves apart and launch a profitable business from the ground up.
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Use these practical strategies to help you navigate seasonal spending in a less stressful way. Amid all the joy and cheer the end of the year brings, the holidays can be a hectic — and expensive — time. Purchasing gifts for loved ones, making travel plans, attending parties and enjoying the multitude of festive celebrations and events that crop up can end up putting a strain on one’s finances and detracting from the positive spirit of the season. But whether money is a bit tight this year or you are working toward a particular financial goal, you don’t have to sacrifice holiday cheer to stay on track with your spending. Consider implementing one or more of the following tips, as recommended by the financial experts of Kiplinger Advisor Collective, to help you avoid overspending and enjoy this special time with your family and friends.
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Reduce your tax liabilities by following these expert-recommended tips. When it comes to taxes, having a higher income may not always be the blessing it’s often thought to be. With a bigger income comes increased tax rates, as moving into a higher tax bracket means a larger portion of income will be taxed at a higher rate. Those earners with multiple streams of income — investment income, capital gains, bonuses and more — can further complicate their taxes. These factors, paired with the possibility of losing out on certain deductions or credits due to their income, mean high-income earners are often on the lookout for ways to optimize their tax strategy and minimize their tax liabilities, or what they owe. As financial and tax experts themselves, the members of Kiplinger Advisor Collective know the ins and outs of effective tax strategies. Here, they offer up six ways high-income earners can minimize their tax liabilities and keep more money in their pockets.
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Oct 8, 2024
While we are unlikely to return to the days of zero interest rate policy, cash and cash equivalents won’t be the slam dunk they have been during the past two years.
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Consider this expert advice before you make the leap into property management. Many people are drawn to the world of real estate investing and the dream of making passive income through rental properties. It’s an attractive prospect, as there’s certainly plenty of money to be made if purchased with considerable thought. However, other potential investors are equally nervous about the idea of owning real estate, as the amount of work and knowledge required can seem daunting or out of reach. Influencers and reality TV shows make it seem easy — but is real estate investing right for you? As leaders in the financial space, the members of Kiplinger Advisor Collective are familiar with what it takes to succeed in real estate, and here, they share their expertise by outlining eight signs that investing in real estate may be a good fit or the right next step for you.
Company details
RetireGuide.com & Annuity.org
Company bio
RetireGuide.com is dedicated to providing high-quality information and dependable research about the relevant topics retirees and soon-to-be retirees care about. Our goal is to arm our readers with knowledge that will lead to a healthy, fulfilling, and financially successful retirement. Annuity.org has been a trusted source for personal finance information for more than 10 years. We combine accurate, timely research with unique insights from consumers and professionals to provide helpful, valuable resources about annuities and retirement income planning.