How to overcome one of the biggest retirement hurdles

How to overcome one of the biggest retirement hurdles

Stifling debt is keeping many American workers from saving for retirement. But it’s still possible to meet both obligations, personal finance experts say.

One in 3 employees who don’t contribute to their workplace retirement say it’s because they have too much debt, according to a survey this year by Natixis Investment Managers. More than 2 in 5 workers said general credit card debt hampered their retirement savings, while over a quarter of millennials cited student loans.

But delaying contributions – no matter the reason – hurts your long-term financial security in your golden years.

David Edwards, president of Heron Wealth in New York, encourages people to contribute at least a small amount to your retirement plan each month, even if they have debt.

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7 Best Socially Responsible Mutual Funds

7 Best Socially Responsible Mutual Funds

Invest with your heart with these best SRI mutual funds.

SRI mutual funds tend to be value-focused.

The socially responsible investing category is exploding, driven by investors' desire to invest with their values. These funds are often categorized under ESG, which stands for environmental, social and corporate governance. David Edwards, the founder of Heron Wealth, says: "This is not an easy concept to navigate, as many fund companies just slap an ESG label on an existing fund and shove it out the door."

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Heron Wealth Recognized by Citywire RIA Magazine as 'Future 50' Financial Advisory Firm to Watch

Heron Wealth Recognized by Citywire RIA Magazine as 'Future 50' Financial Advisory Firm to Watch

New York, Fee-Only Wealth Management Firm Named to Elite List of Fiduciary Investment Advisors

NEW YORK, Oct. 17, 2019 /PRNewswire/ -- Heron Wealth, an SEC Registered Investment Advisor based in New York City, was named to Citywire's 2019 inaugural list of RIA Future 50At a special gathering in Austin earlier this month, Citywire recognized fifty firms that best represent its vision of the future of the industry.

New York, Fee-Only Wealth Management Firm Named to Elite List of Fiduciary Investment Advisors

According to their website, "The RIA Future 50 firms represent a group of finance professionals who are collectively creating this new investment landscape. They have their own unique story to tell, are driven to succeed on their own terms and, most importantly, are in charge of their own investment decisions."

Citywire measured Heron's independence, how they manage their own investment practice; what percentage of their income is fee-based; how inclusive, diverse and sustainably-minded they are (including sustainability programs and diversity initiatives; processes in place for attracting and maintaining talent; succession planning; staff credentials); how much they have grown as a business in recent years; firm service offerings and capabilities; client education and charitable work.

"Our industry, wealth management, is undergoing an unprecedented time of transition," said David Edwards, president and founder, Heron Wealth. "Clients demand ever more services, delivered according to their schedules, not ours, and want to be secure in knowing that they are receiving the best possible advice at all times. We are thrilled to be recognized among the firms that are taking charge in this new reality."

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Overcoming Fear of Spending in Retirement

Overcoming Fear of Spending in Retirement

Journalist Jeffrey Steele of the Chicago Tribune Retirement Newsletter examines many retirees' fear of spending their savings in retirement. Graveyards are filled with people who never got around to spending their hard-earned retirement funds, so anxious are they of going through their nest eggs. According to the Center For Retirement Research writer Kim Blanton, "A 2009 study estimated that by the time middle-income retirees are in their 80s, they still had not touched about three-fourths of their savings, and 2016 research found that retirees with substantial assets are the most reluctant spenders. Vanguard recently reported that retirees with very modest savings turn around and reinvest a third of the money they’re required to withdraw under IRS rules after age 70½."

* Why is this problem so pervasive among devoted savers?

* What are the financial unknowns that may spur this tendency?

* What strategies can reluctant spenders pursue to overcome this psychological barrier?

David Edwards replies, “We confront this issue all the time as our clients transition from careers to leisure

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Fintech's Role as a Catalyst for Growth - Heron Wealth's David Edwards on the Fuse Show

Fintech's Role as a Catalyst for Growth - Heron Wealth's David Edwards on the Fuse Show

In "The Fuse Show," co-hosts Co-hosts Ryan Donovan and George Svagera of Orion Advisor Technology, discuss the trends and headlines in the fintech industry and offer new insights for financial advisors looking to innovate beyond traditional ways of doing business, disrupt the status quo and win more business.

In this episode , David Edwards describes how Heron Wealth uses technology to deliver the high touch-high engagement that modern families demand of their advisors. Edwards explains that technology does not replace the advisor but rather, enables the “bionic advisor.”

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7 Ways to Lower Your Retirement Income Risk: Cut Retirement Income Risk with the Bucket Strategy

7 Ways to Lower Your Retirement Income Risk: Cut Retirement Income Risk with the Bucket Strategy

Longevity risk, the possibility of outliving one's money is the scariest retirement income risk. But fear of volatility causes many investors to shy away from equities and growth investments, says David Edwards, president at Heron Wealth in New York. Edward's bucket strategy apportions 60% to stocks and commodities, 30% to government and corporate bonds and 10% to short-term cash securities

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In a New York minute: Meeting the Big Apple’s RIAs

 In a New York minute: Meeting the Big Apple’s RIAs

Isaiah Green recently stopped by the office of Heron Wealth in mid-town Manhattan. Here are his impressions:

I swapped my airline boarding pass for a MetroCard as I met with RIAs on my own turf to discuss new hires, fintech solutions and handling whatever the market throws at you.

To start my day, I headed no further than a few floors above Citywire’s humble abode, to the office of Shikiar Asset Management, where I met with managing director Samuel Shikiar.

 For my next meeting, I hopped on the seven train to the east side of Manhattan to sit down with David Edwards, founder and president, and Chris Jennings, wealth advisor at Heron Wealth.

 Edwards, Jennings and their team work out of a sleek, modern WeWork in the heart of New York with spectacular views of the growing skyline and the East River.

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