Author: Minich MacGregor Wealth Management

Mental Money Mistake #4: Following the Crowd

“Men, it has been well said, think in herds; it will be seen that they go mad in herds,

while they only recover their senses slowly, and one by one.” 

– Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

You’ve probably heard of the phrase “buy low and sell high.”  In a nutshell, it means buying a stock when the price is low and likely to rise in value, and then sell when it’s reached it’s peak but before it starts to fall.

Unfortunately, many investors do the opposite—they “buy high and sell low.”  They don’t do it on purpose, of course.  They do it because they follow the crowd.

Let’s take a fictional company as an example.  Imagine that the ACME Corporation (of Looney Tunes^™ fame) has just announced a new product to help wily coyotes catch incalcitrant road runners.  This excites investors and analysts both, who promptly decide to buy the stock.  The stock price rises.  More investors jump in.  The stock price rises faster.  Suddenly you start hearing news stories about how ACME is a “must buy!” or that it’s “the hottest stock in decades!”  Even your friends all talk about how many shares they’ve purchased.  And since the stock just keeps going up, you decide it’s too great an opportunity to miss.

In reality, though, the opportunity is likely to have already passed.  Suddenly, you’re buying stock at an absurdly high price.  So much for buying low.  Worse, you’re buying the stock not because you or your advisor did any research on the subject.  You’re buying it because that’s what everyone else was doing, and you didn’t want to get left behind.

A few weeks go by.  Maybe a few months.  Then one day you turn on the TV and learn that ACME’s new roadrunner catcher doesn’t work nearly as well as people thought.  In fact, at least one coyote has died—blown himself up, in fact.

Sell, sell, sell.

Since most investors now want nothing to do with the stock, you’ll likely have to sell your shares at a much lower price than you bought them for.  And before you know it, you’ve lost money.

That’s what following the crowd can get you.

Now, most savvy investors know this already, and they do a good job of avoiding simple “hot stocks.”  But that doesn’t mean they’re immune to making this mental mistake.  Let’s take the above example and apply it to something bigger.  For example:

• During times of market volatility, following the crowd and getting spooked by the markets altogether … and then missing out on the inevitable rally that comes later.
• Buying/investing in a commodity because that’s what the crowd is doing—like gold or real estate (this has happened on many occasions over the past decade).
• Taking out a second mortgage or enaging in some other type of fancy financial tactics because that’s what everyone else in the neighborhood, church, club, or company is doing.

The point is, that following the crowd is easy, even if you are an otherwise smart, savvy individual.  It’s so easy to be caught up in emotion.  So easy to let yourself be influenced by “the madness of crowds.”

To avoid making this mental mistake, follow these easy steps:

1. Remember that if something sounds too good to be true, it always is.
2. Whenever an exciting investment idea comes to you, give yourself a few days before taking any action (if possible). Then, when you return to the idea, you can examine whether it still seems as promising as it did before.
3. Write out a list of investing/financial rules for yourself, like a “Ten Commandments” list for your personal use. An example: I will never discuss my investments with my friends, nor listen to them discuss theirs. 
4. Always get a second opinion from an independent, unbiased financial professional before making a major financial decision.

Keep an eye out for next month’s article, where we’ll discuss Mental Money Mistake #5: Pride Goeth Before the Fall.

Veterans Day

Last month, in a small town called Taylor, Pennsylvania, George Fricovsky received his high school diploma.

You probably didn’t hear about it.  Very few did, unless they lived locally.  After all, what’s so remarkable about receiving a diploma?

For starters, George is 90 years old.

Now that’s a bit more unusual.  Why is a 90-year old receiving a diploma?  And why did it take him so long?

For that, you have to go back to 1944, when World War II was raging.

“Youth is the first victim of war.”  – Baudoin of Belgium

George was only 18 years old at the time, and he had not yet graduated from high school.  Nevertheless, when his country called, he answered.

Before he could receive his diploma, George was whisked away to the Army and basic training.  By December, he was in Marseille, France, with the 276^th US Infantry.  The war in Europe would end only six months later, but George saw more, experienced more, and achieved more in those six months than most men do in a lifetime.  By the time he returned home, he had earned a Bronze Star, an American Theater Service Medal, a European-African-Middle Eastern Service Medal, and a Good Conduct Medal.

He also received a Purple Heart after surviving an explosion that severely damaged his leg.

Upon returning home, George enjoyed a productive and happy life, working in the Army Depot and raising a family.  But he never got that high school diploma.

Now fast forward 72 years to October 11, 2016.  George had been invited to visit Riverside High School to lead a local board meeting in the Pledge of Allegiance.  Or so he thought.  Instead, he was surprised when the Vice Principal presented him with a reward unlike any other:

His high school diploma.

Perhaps most gratifying to George was that the Vice Principal was none other than his own grandson.  “He always talked about the one thing he wishes he was able to do was to graduate high school,” his grandson said.

So why are we telling you all this?

First of all, it’s a sweet story.  But that’s not all.  As you know, Veterans Day is coming up.  And when we came across the tale of George Fricovsky, it made us stop for a moment to think about what Veterans Day means to us.

It’s nothing new to say that veterans sacrifice so much in service to our country.  Their time, their talents … and sometimes their lives.

But as George Fricovsky proves, they also sacrifice more than that.  They sacrifice many of the life experiences we take for granted.  High school graduations and first dates and Saturday nights spent with friends.  Opportunities to be best men or bride’s maids.  Watching their favorite sports team win the championship or taking that trip to the Grand Canyon.  Birthday parties and funerals.  Their child’s birth.  Their child’s first steps.

Many of these may seem like small, trivial events … but they are also fulfilling, enriching experiences.  They are the very flavors of life.  And our veterans forego them, all because their country called.  So it was with George Fricovsky.  So it is with the veterans in our towns and neighborhoods.

That’s why it’s so heartwarming for us to see a veteran like George rewarded … not with a medal, or a statue, or a commendation, important as those things are.  But with the gift of an experience—an experience he had given up so that others wouldn’t have to.

So this Veterans Day, let’s all strive to remember the veterans in our communities.  Let’s all strive to make their futures as rich as the future they have given us.

From everyone here at Minich MacGregor Wealth Management, we wish you and the veterans in your life a happy Veterans Day!

Mental Money Mistake #3: Being Too Afraid of Risk

This is the third article in a series titled “Mental Money Mistakes.”  What are mental money mistakes?  They’re subtle errors in judgement; basic oversights and miscalculations.  As a rule, they tend to be subtle and easy to miss.  We don’t mean big mistakes like taking on a bunch of debt, spending more than you can afford, or being too risky with your investments.  No, these are the kinds of mistakes just about anyone can make, even if you’re intelligent and hard-working.

Most investors know how important it is to avoid taking on more risk than they can afford.  That’s why advisors like us spend a lot of time going over concepts like “risk tolerance” with our clients.  After all, no one wants to get burned by a bad investment and end up losing a hefty chunk of their nest egg.

But did you know that it’s possible to be overly risk-averse?  Some investors are so afraid of losses that they end up missing out on opportunity after opportunity, and in the end, simply don’t have the funds they need to accomplish their financial goals.  When that happens, they’re really no better off than the investor who risked too much, are they?

Take this example.

Imagine two relatively young investors, both in their mid-thirties.  Let’s call one Jim and the other Alice.  Both Jim and Alice know they need to save for retirement, and decide to invest $5,000 per year for the next 30 years.  Unfortunately, Jim is extremely cautious (to the point of timidity).  He’s so anxious to avoid risk that he decides to put most of his money into Certificates of Deposit, or CDs.  CDs are traditionally seen as fairly safe, so Jim feels good.

Alice, meanwhile, is also cautious but decides to invest more heavily in stocks.  Over the next thirty years, she sweats the ups and downs of the markets like most of us do.

Now fast forward thirty years.  Both Jim and Alice are in their mid-sixties and getting ready to retire.  For simplicity’s sake, let’s say that Jim earned about 2% interest a year on his retirement savings.  When you factor in compound returns, Jim ends up with about $211,000.

Alice, on the other hand, ended up earning about a 7% annual return.  Some years were higher, some were lower, but the average is 7%.  (This is a fairly conservative average, but it makes things easy to calculate.)  She ends up with almost $510,000.  That’s over twice as much as Jim.  That means she has a lot more money saved up for retirement … and lot more to apply to her financial goals.

All because she was willing to take on a little more risk.

This same principle applies to retirees, too.  Of course, retirees should invest more conservatively than younger investors.  But again, that doesn’t mean they should sacrifice all potential for growth.  You see, many retirees often discover that the money they saved can dry up pretty quickly, especially on things like medical care.  Retirees need income, and allocating at least a portion of your portfolio for growth is a good way to generate that income.  That means accepting at least some risk, even when you’re retired.

The fact of the matter is that all investing involves some risk.  While it’s crucial that you avoid taking on too much, it’s also important to not take on too little.  So as you save and invest for the future, take time to determine not only how much risk you can afford … but also how little.

Keep an eye out for next month’s article, where we’ll discuss Mental Money Mistake #4: Following the Crowd.

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Why You Shouldn’t Worry about the Election

On November 8, we will vote to decide the future leader of our country.  We will choose our commander in chief.  Our head of government.  Our most visible icon.

We will vote for the next President of the United States.

One thing we won’t be doing, however, is deciding what the markets do. We won’t be voting whether the markets go up or down. We won’t be voting on your investment portfolio. The markets, thankfully, are far too sophisticated to be determined by one person or one event.

Recently we’ve seen a lot of hand-wringing from investors worried about the upcoming election.  Many people have told us, “I’m afraid to make any financial decisions until after November.”  The thinking goes that once we know the name of our next president, we’ll be able to predict what the markets will do.  Only then should we make any decisions.

However, this reasoning is flawed.  Here’s why:

No one actually knows what will happen to the markets after the election.

Whether the winner is Hillary Clinton or Donald Trump, we can try to predict what the effect will be, but no one actually knows.  That’s because …

We Don’t Know What Each Candidate Will Do in Office

Guesswork is a risky business.  While we can guess what Trump or Clinton will do, no one knows for sure.  Frankly, most politicians have become infamous for being vague about their plans.

Then too, presidents have a habit of saying one thing on the campaign trail, then doing something different while in office.  That’s because ideology often gives way to practicality once politicians actually have to get things done.  Compromises have to be made and unforeseen circumstances responded to.

In other words, campaign promises often take a backseat to political necessity.

The Markets Respond to More than Just Who Occupies the White House

Let’s pretend for a moment that we do know exactly what each candidate will do.  Sounds great, right?  We can make all the right decisions based on that knowledge.

But here’s the truth: the markets move for no man or woman.  No one principle governs them; no single event determines their destiny.  The markets are complex, because so many things can affect them.  The President is just one person.  Similarly, the election is just one event.  An important one, true, but the markets react to thousands of events throughout the year.  One event does not control them … just as we shouldn’t let that one event control us.

There’s another reason why some people refuse to act until after the election.  It’s called …

Emotion

Making financial decisions based on emotion is never a good thing.  Too often, we let emotions get in the way.  Emotions can prevent clear thinking and make us react impulsively.

Therefore, when people say, “I’ll wait till after the election,” or “I want to do X because I’m afraid President Y will be elected,” they are making an emotional decision instead of a rational one.  We think the main emotion is fear.  Fear that their preferred candidate will lose and the other will win.  Fear that everything is going to be doom and gloom.

Don’t believe us?  Let’s take a little quiz.  Below are the last seven presidents of the United States, with their political party next to their name.  Look at each name and guess whether you think the S&P 500 went up or down during the first year of their presidency.  Write your guess in the space provided, if you like.

Now, maybe you will score 100% on this quiz.  But we are willing to bet at least a few of the answers will surprise you.  Speaking of which, here they are (each number is rounded):¹

Is there anything you didn’t expect?  Maybe Reagan’s first year was worse than you thought, or George H.W. Bush’s first year was much better.

Frankly, if even one of those numbers comes as a surprise, it should be food for thought.  After all, if we can’t guess how the markets did in hindsight, how can we accurately predict what’s going to happen in the future?  Every president on the list above had their strengths and weaknesses, but the numbers next to their names were the result of far more: they were the result of all the events, big and little, that they could not foresee and could not control.

You might be saying, “This is hardly a traditional election”.  That is true—from a likeability standpoint, both candidates are historically flawed.  However, the fact remains, the markets are driven by far more than one person and one event.  We often say that the president is the leader of the free world … but they still do not determine which way the markets will go. 

That is why you shouldn’t get too worked up about the election—at least not with regards to your finances.  As always, we should make financial decisions based on planning instead of predictions.  That is the way to control your financial future.  No one else controls it for you … not even the President of the United States.

If you are still worrying about the upcoming election, please give us a call.  We can discuss your portfolio.  We can talk about any opportunities that might exist right now.  We are constantly monitoring both the markets and Washington, so if anything happens that you need to know about, rest assured that we will be dialing your number.  Our job is to give you the best financial advice possible.  Right now, that advice is: do not let one person or one event control what you do or how you feel.  When it comes to your finances, there is only one person that matters:

You

As always, please let us know if you ever have any questions or concerns about your portfolio.  In the meantime, have a happy autumn … and do not sweat the election!

¹ “Annual Returns on Stock, T.Bonds and T.Bills: 1928 – Current,” Stern School of Business, NYU, accessed October 3, 2016.  http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

Mental Money Mistakes Part 2

This is the second article in a series titled “Mental Money Mistakes.”

What are mental money mistakes?  They’re subtle errors in judgement—basic oversights and miscalculations.  As a rule, they tend to be subtle and easy to miss.  We’re not talking about big mistakes like taking on a bunch of debt, spending more than you can afford, or being too risky with your investments.  No, these are the kinds of mistakes just about anyone can make, even if you’re intelligent and hard-working.

In this article, we will discuss:

Mental Money Mistake #2: Irrational Accounting

If you’re like most people, you get a paycheck every other Friday.  A lot of it probably goes to covering your expenses.  Another portion goes into your savings.  Whatever’s left over gets used for recreation.

Now imagine that you find a $100 bill under the couch cushions, get a nice Christmas bonus from your employer, or receive a hefty tax refund.  What do you do with that money?

Many people tend to look at these unplanned-for windfalls as “free money.”  As a result, they spend the money on luxury items, vacations, or even on a quick gambling jaunt to Vegas.  To put it simply, they use the money on short-term wants instead of long-term goals.

It’s perfectly understandable why people want to do this, and every once in a while, it’s probably okay.  But when you do it too often—when you treat a $100 bill differently depending on where it came from—you are guilty of “irrational accounting.”

Irrational accounting is a mental mistake because it means you are making financial decisions based off emotion and impulse rather than logic and planning.  Done too often, it can become a potentially damning habit.

Remember, mental money mistakes are a problem because they can keep you from getting ahead financially.  In this case, while it might be fun to spend “free money” on luxuries, it’s also counterproductive to reaching your long-term goals.

Taking that money and either saving it or investing it can dramatically shorten your timetable to retirement (or whatever else is most important to you).

Of course, none of this means you shouldn’t ever buy that new gadget or enjoy a fun trip.  What it does mean is that you should pay for those things the same way you do everything else—by saving and budgeting your normal income.

In this day and age, both our government and many private businesses are guilty of irrational accounting.  We see the damage this causes every time we turn on the news.  It’s important that we as individuals avoid making the same mistake.  No matter where our money comes from—whether from our regular paycheck or underneath the couch cushions—it’s critical that we treat it the same.  Always make financial decisions based off logic and planning rather than emotion and impulse.  Always make long-term goals your highest priority whenever possible.  This is the path to “getting ahead” financially.

And of course, once you’re ahead, well … the sky’s the limit!

Keep an eye out for next month’s article, where we’ll discuss Mental Money Mistake #3 … and learn why too little risk can be just as bad as too much.

Mental Money Mistake #1: Forgetting to Plan for Unexpected Expenses

A few years ago, we met with a young man who we’ll call Sam.  He asked us a very simple question: “Why can’t I ever seem to get ahead financially?”

We asked Sam to tell us a bit more about himself.  He continued: “I’m a college graduate.  I have a good job.  I pay my bills on time and don’t use credit cards.  I don’t spend money on frivolous things.  So why can’t I ever get ahead?”

Fortunately, after a deep dive into the state of his finances, we were able to help him find the answer: he made too many of what we like to call, “mental money mistakes.”

What are mental money mistakes?  They’re subtle errors in judgement.  Basic oversights and miscalculations.  As a rule, they tend to be subtle and easy to miss.  We’re not talking about big mistakes like taking on a bunch of debt, spending more than you can afford, or being too risky with your investments.  No, these are the kinds of mistakes just about anyone can make, even if they’re intelligent, hard-working types like Sam.

To help you identify mental money mistakes, we have decided to write a new series of articles.  Each one will discuss a different mistake and how to avoid it.  So without further ado, let’s dive into:

Mental Money Mistake #1: Forgetting to Plan for Unexpected Expenses

We all know the line, “Expect the unexpected.”  But how often do we actually do it?

The fact of the matter is that many people do a good job planning for expected expenses, like mortgage payments, health insurance, gas, and groceries.  But when it comes to saving for the future—whether for your retirement or just that trip you’ve always wanted to go on—we tend to forget about all the unexpected expenses life tends to throw our way.  And that’s a mistake, because a plan that assumes nothing will ever go wrong isn’t really a plan at all.  It’s more of a prayer.

With that in mind, here are five very common but usually unexpected expenses that many people fail to plan for:

1. Unemployment. Sure, no one wants to think about losing their job.  But what if the economy goes south?  What if the company you work for gets bought out?  What if you or a family member gets sick and it becomes hard to work your normal hours?  You have to admit, none of these events are exactly unheard of.  So ask yourself: do you have a plan for what to do if you lose your job?  Do you have any fallback options lined up?  Do you have enough money saved up to help you stay afloat until you get back on your feet?
2. Long-term or life-changing illness. If there’s anything unpredictable in life, it’s our health.  But even if you have health insurance, an extended illness can drain your savings in a hurry.
3. Car repairs. You know it will happen one day: the strange clunk-clunk sound you start hearing from your engine ends up being a problem that will cost hundreds, maybe even thousands, to fix. And if it happens more than once …
4. Your bills keep going up. What goes up does not necessarily go down. Anyone who has ever paid for an internet connection or satellite TV knows that prices tend to rise over the years.  Your basic utilities are prone to price fluctuation as well.  A really cold winter means your gas bill will go up.  If you have children in the house who keep leaving the lights on, your electricity bill will go up.  You get the picture.
5. Household repairs. When the toilet clogs or the faucet leaks; when a window breaks or the roof starts to degrade; when wood-boring beetles infest the tree in the backyard; unless you really like to DIY, that means paying for a professional … who usually aren’t cheap.

The point of all this, is to show that unexpected expenses can come at any time, in many different forms.  What’s more, they can really pile up.  In Sam’s case, even though he was being prudent with his money, he still had trouble getting ahead because he was always having to allocate more money than he expected to dealing with expenses.  And he’s not alone: according to a study by Pew Charitable Trusts, “more than 70% of Americans find it hard to save because of expenses they didn’t plan for.”¹

So what’s the solution?  Start a rainy day fund!  When most people save, they tend to just throw everything into one savings account and withdraw money whenever they either need or want to.  Instead, we suggest creating a separate type of savings account: one that can only be touched whenever the unexpected happens.  Every month, devote a set percentage of your income to the rainy day fund in addition to your regular savings.  Then, when your car inevitably breaks down, you won’t have to worry about it interfering with that vacation you’ve been saving for, because you’ve already set aside the funds to deal with it.

By making a list of possible expenses in addition to the regular expenses you’ve already planned for, you can make real progress in regards to getting ahead financially.

Stay tuned for next month’s article, where we’ll discuss Mental Money Mistake #2 … and learn why not all $20 bills are created equal.

¹ Ann Carrns, “Unexpected, but Not Unusual Expenses Thwart Efforts to Save,” New York Times, January 8, 2016.  http://www.nytimes.com/2016/01/09/your-money/unexpected-but-not-unusual-expenses-thwart-efforts-to-save.html?_r=0

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Negative Interest Rates

For most people, it starts when they take out their first loan.  Others don’t really think about it until they buy a house.  But whoever you are and whatever you do, at some point you’ll have to start paying attention to it.

We are referring, of course, to interest rates.

Interest rates are one of the many mile markers that separate adulthood from childhood.  (You always know someone’s growing up when they start having to worry about interest rates.)  But here’s a term even some adults haven’t heard of: negative interest rates.

While you probably haven’t seen the term in the headlines of your local paper, it’s become a common topic in global financial circles.  That’s why it’s a good idea to familiarize yourself with the concept, because there’s a chance you’ll see it much more often in the future.

First, the basics.  What exactly are negative interest rates?

Investopedia has a good definition:

A negative interest rate means [a nation’s] central bank and perhaps private banks will charge negative interest: instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank.  This is intended to incentivize banks to lend money more freely and businesses and individuals to invest, lend, and spend money rather than pay a fee to keep it safe.¹

Since the Great Recession of 2008, many countries have done almost everything in their power to help their respective economies grow.  One way to do that is to keep interest rates low.  Lower interest rates make borrowing less costly, which means businesses and individuals can borrow and spend more, thereby pumping more money into the economy as a whole.  This, of course, equals growth.

The United States has been no stranger to this tactic.  Our own central bank (the Federal Reserve) kept interest rates low for years.  Only in late 2015 did the Fed finally raise rates, and the increase was very small, going from 0–0.25% to 0.25–0.5%.²

But what happens if a central bank takes interest rates all the way down to zero, and it still isn’t enough to kick start the economy?

That’s when negative interest rates come into play.  It’s like hanging a carrot from the end of a stick, then telling the rabbit it has to either eat the carrot or lose a percentage of the food it already has.

What are the consequences of negative interest rates?  It depends.  For consumers, negative interest rates can mean that taking out a loan to start a business or buy a home becomes much more attractive.  Existing loans or mortgages with negative interest rates also become much easier to pay off.  On the other hand, simply keeping your money in a savings account becomes less attractive, since you will probably have to pay interest rather than earn it.

For banks, negative interest rates can be harmful.  After all, most banks rely on high interest rates to make money.  The less money they earn, the less money they have to lend—meaning less business overall.  That puts banks in danger of failing, which as we know from our own national experience, can plunge a country into recession.

Fortunately, most banks are aware of the risk and take steps to reduce it.  For instance, they may apply negative interest rates only to certain types of accounts and transactions.  Above all, though, central banks rely on negative interest rates to increase borrowing and spending, thereby boosting the economy and making long-term growth more likely.

As of this writing, several countries have dipped into negative interest rate territory.  For example, Japan went to -0.1% in February.³  The European Central Bank followed in March.  Nations like Denmark and Sweden have already instituted negative interest rates.  What about here in the United States?  Back in November of 2015, Janet Yellen, the Chairwoman of the Federal Reserve, acknowledged that negative interest rates are a potential tool for stimulating the economy, but seemed to dismiss any current need for them, saying, “I don’t at the moment see a need for negative interest rates.”⁴  In short, it’s possible the U.S. might see negative interest rates in the future, but not very likely.  It’s more likely that the Fed will continue raising rates, albeit at an extremely slow pace.

What does all this mean for investors?  Well, the global economy still remains fragile, which can lead to market volatility here at home.  So the fact that more central banks are taking steps to jumpstart their economies is probably a good thing.  On the other hand, negative interest rates are also proof that our planet is still a long ways away from economic stability.  As a result, we need to remain vigilant and educated so we can continue making the best decisions for your financial future.

Vigilant and educated—that’s why I make it a point to send you letters like this.  In the meantime, we’ll keep monitoring the global markets like we always do.  But if you ever have questions, about negative interest rates or anything else, don’t hesitate to let us know.  We are always happy to hear from you!

¹ “Negative Interest Rate Policy,” Investopedia.com, http://www.investopedia.com/terms/n/negative-interest-rate-policy-nirp.asp. 

² Patrick Gillespie, “Finally! Fed raises interest rates,” CNN Money, December 16, 2015.  http://money.cnn.com/2015/12/16/news/economy/federal-reserve-interest-rate-hike/?iid=EL

³ Paul Diggle, “Negative interest rates’ positive side,” CNBC, March 10, 2016.  http://www.cnbc.com/2016/03/10/negative-interest-rates-positive-side-commentary.html

⁴ Craig Torres, “Yellen Signals Solid Economy…” Bloomberg, November 4, 2015.  http://www.bloomberg.com/news/articles/2015-11-04/yellen-signals-solid-economy-would-lead-to-december-rate-hike

We’re moving – but not that far.

We have enjoyed the past seven years here at 24 Hamilton Street.  Our office has served us well.  Due to our expanding team, and Saratoga Hospital’s decision to utilize the entire building, we are moving across the street to 21 Congress Street.  Our new office will be located on the second floor, above Fed Ex / Kinkos.   The building itself is called 4 Congress Park Centre, not to be confused with the actual street address.  You’ll see 4 Congress Park Centre on the building’s sign, however it is not part of the mailing address.

There is a dedicated parking lot for our new building with gated access.  When visiting our office, please be sure to bring your parking lot ticket so we can validate it.

The finishing touches are being put on our new office and we are looking forward to the move on Wednesday, August 17^th. We will remain open during the move with no disruption to clients.

Our phone numbers, fax and email will remain unchanged.  The new mailing address as of August 17^th will be:

21 Congress Street, Suite 203

Saratoga Springs, NY 12866

We plan to host a reception in our new office space in September so stay tuned for more details.   If you have any questions, as always, feel free to reach out to us by phone or email.  We will see you on the other side … of Congress Street.