Lauren Flanagan, Author at Zynergy

About Lauren Flanagan

Lauren Flanagan is the Vice-President and a senior planner at Zynergy Retirement Planning, LLC, a financial planning firm specializing in working with mature adults over 50 years old.

Lauren holds a Certified Financial Planner™ designation and is also a member of the Financial Planning Association (FPA) and The National Association of Personal Financial Advisors (NAPFA).

Zynergy’s Guide To Divorce in Retirement -

Zynergy Retirement’s Guide to Divorce in Retirement Divorce is always a challenging situation, both emotionally and financially. Besides the division of assets and debts, there is also the important issue of retirement planning to keep in mind during this challenging process. Here is a helpful guide to retirement planning and divorce in New Jersey. Ways to Protect Your Retirement in...

Retirement Q&A – Do I Need an Attorney? -

My situation seems fairly straightforward; do I need to hire an attorney to execute my will or can I use software and do it myself? Have you ever googled “Pinterest Fails?” There are thousands of examples of do-it-yourself projects gone bad, many of which can provide a good laugh. When you are dabbling in recipes and crafts, why wouldn’t you...

Retirement 101 Series – Lesson 3: Open a Roth IRA -

Adam had just finished up his first month of work, and after enjoying a happy hour with his new colleagues, he came home and perused the pile of mail on the table. He smiled at the familiar handwriting on a greeting card and opened it eagerly to find a graduation card with a handwritten note and a check. “Did you...

When the Honeymoon is Over -

When the Honeymoon is over… again: How to Transition into Retirement with your Spouse Shortly following my wedding, I attended a networking event where I saw several friends and colleagues for the first time since my recent nuptials. After being the subject of many well wishes and platitudes, a well-respected business woman, about 20 years my senior, pulled me to...

Celebrating (Financial) Independence -

As Americans, we certainly value independence. Never is that more obvious than when we approach the 4th of July and celebrate the independence of our country. At the signing of the Declaration of Independence, John Adams wrote that it “will be celebrated, by succeeding Generations, as the great anniversary Festival” and that the celebration should include “Pomp and Parade…Games, Sports,...

Retirement FAQ: The Cost of Investing -

Q. I keep hearing that I should be keeping my investment costs low, but as far as I can tell, I don’t have any investment costs… How do I know if, and what, I’m being charged? A. You are not alone. Frequently, we meet with people who do not realize there are underlying costs to their investments. Many times, if...

Retirement 101 Series – Lesson Two: Investing in Your 401K -

Adam sank onto the couch and sighed contentedly. His first day of work was on the books, and it was a good day at that. He glanced over at the packet of enrollment information that he needed to go through to elect his health coverage, 401K, and various other benefits. Remembering his grandmother’s advice on contributing to his 401K, he...

The Power of Diversifying Your Investments -

(Due to the complicated nature of this topic, the language used in this blog post will be more advanced than in our typical blog post) Let’s assume for a minute that you were just out of college and took a job working for your eccentric uncle Jim. Although your uncle thinks a little differently than most, he is very smart...

Retirement 101 Series – Lesson One: Contributing to Your 401K -

After four years of working (and playing) hard, Adam graduated from Rutgers University with honors. In addition to his shiny new diploma, he also had a great job lined up and the future certainly seemed bright. His grandmother Margaret, whom also shared his alma mater, was especially proud. They were always close, and on his graduation day, she passed him...

Retirement FAQ: What To Do After Taxes Are Filed -

Q: It seems every year that I am scrambling to gather all my information and get my taxes filed. How do I get ahead of the game to make the process easier next year? A: You are not alone. Tax time can be very stressful, and many people find that despite their best intentions, they are scrambling to find all...

Some of the Best Advice You’ll Never Hear -

Buy High, Sell Low Your investments have not been performing so well. Despite the lackluster performance, your financial advisor continues to purchase additional shares with any free cash. Meanwhile, everyone is talking about how great Amazon stock is performing and you can’t help but wonder what is wrong with your advisor. You could not be more right. Buying high and...

The Jackpot Could Be Yours -

The Jackpot Could Be Yours… And that’s not just the Luck of the Irish It’s March, and while that might bring to mind thoughts of snow and cold weather, it also brings a lot of celebrations around luck. Around here, you could attend a St. Patrick’s Day parade every weekend day for four weeks; celebrating with thousands of people wearing...

Debt Dissolver: Getting Out of Credit Card Debt -

One of the biggest challenges in personal finance is managing credit card debt. Credit card debt levels in the United States are staggering and with high interest rates and multiple cards, the prospect of getting out of debt can seem overwhelming and even insurmountable. If you can afford little more than the minimum payments, the debt will continue to grow,...

Presidents and Founding Fathers on Money -

In honor of Presidents’ weekend, we took a look at the Presidents and Founding Fathers whose faces grace our currency, to see what we can learn from them about money. Interestingly enough, in the case of many of them and despite the fact that they are all respected leaders, the lessons on personal finance to be drawn are frequently more...

Valentine’s On a Budget -

Valentine’s Day on a Budget Valentine’s Day is fast approaching but celebrating with your main squeeze doesn’t have to cause a financial squeeze. Like so many things, Valentine’s Day has become a bit commercial and may put pressure on you to create a “Wow” experience for your partner. Adding to that, you often have to pay a premium to eat...

Tax Time 411 – 2019 Tax Deadline Guide -

They say that the only certainties in life are death and taxes. It is our hope that both will be rather uneventful, quick and painless. Considering we are not doctors, but financial planners, let’s keep our focus where our strength lies and delve into some tips to help you get through the tax season. Get Organized Organization is truly the...

Getting Your Financial House in Order -

‘Tis the season for making resolutions, and some of the most common New Year’s resolutions are getting organized, budgeting and saving more. Although most make these commitments with the best of intentions, the truth is fewer than 40% of resolutions will be kept for even the next six months. If you have resolved to improve your financial footing for the...

How Do I Supplement My Income in Retirement? -

Retirement Q&A Topic: How Will I Supplement My Income in Retirement? I’m afraid I’ll never be able to retire. My expenses in retirement will be much higher than my Social Security benefit. How do I bridge the gap without working? This is a frequent worry for people as they prepare for retirement. It is, however, quite normal for your expenses...

Financial Planning vs Money Management -

“Why do I need a financial planner rather than a financial advisor or wealth manager?” Imagine you decide to take an expensive European vacation and are confident you will have enough money to make your dream a reality if you save diligently for the next few years. You meet with a banking professional and find a high yield savings account...

Tips for Enjoying Your Retirement to the Fullest -

"You Rest, You Rust" Not long ago, retirement represented “the end;” the culmination of a long career that ended because one could no longer physically or mentally maintain the rigors of the job. It typically wasn’t far off from the average life expectancy either, so in many ways it felt like the end of life, period. For a plethora of...

Do I Still Need a Will? -

Do I need a will if I have named beneficiaries? I have beneficiaries on my IRAs and bank accounts... Do I still need a will? Generally speaking, the answer is yes. Rules vary from state to state and needs vary from person to person, but in most cases, executing a will is prudent. Designating beneficiaries on life insurance policies and...

When There’s A Will There’s a Way -

The world was rocked last week with news of the death of American music icon Aretha Franklin. Known as the Queen of Soul, Aretha leaves behind a strong legacy with songs that will go on forever. But what of the legacy that she left for her family? Aretha Franklin joins a long list of icons, including Prince, Jimi Hendrix, Bob...

Portfolio Growth in Retirement -

Question: Now that I’m retired, I am no longer contributing to my retirement accounts. In fact, I am now taking distributions. That being the case, how is it that my portfolio grows in retirement? Answer: Over the course of your retirement (and life), the market will experience many fluctuations. In the short term, your investments will go up and down,...

The Art of Retiring To Something -

The Art of Retiring to Something Rachel and Renee have been lifelong friends though they no longer live in the same area. Both have close-knit families and have had successful and fulfilling careers. They retired within one month of each other and decided to get away for a long weekend to celebrate one year of retirement. After careful planning, Rachel...

What Should I Do With My 401K When I Leave My Job? -

No 401K Left Behind Whether retirement is around the corner or just a speck on the horizon, your 401k is a very important tool and how you handle it when you change jobs can be crucial to your financial well-being. This begs the question: What Should I Do With My 401K When I Leave My Job? Here are your options:...

The Downside to Longevity -

The Downside to Longevity The good news: We are living longer! The bad news: We are living longer! The downside: Research shows that 8 out of 10 adults over the age of 50 are significantly underestimating their life expectancy: men by an average of 6 years and women by nearly 8 years. These figures are staggering and increase the probability...

What’s In a Name – Why Not All Financial Advisors Are Created Equal -

Finding the Right Financial Advisor With so many names, titles and designations to sift through, how do you find the right financial advisor for you? Financial Advisor. Investment Advisor. Financial Planner. Wealth Manager. Certified Financial Planner™. Financial Consultant. Registered Representative. Certified Public Accountant. Personal Financial Specialist. And the list goes on… All of the choices and terms can be overwhelming....

Budgeting for Retirement -

Budgeting for Retirement: Not a One Size Fits All Proposition One of the most widely used rules of thumb in retirement planning is the notion that you will need 70-80% of your pre-retirement income once you retire to live a comparable lifestyle. Another suggests that you should save eight times your final salary for retirement. Surely, there is some merit...

Why Does the Fiduciary Standard Matter? -

“Fiduciary.” One who acts in utmost good faith, in a manner he or she reasonably believes to be in the best interest of the client. The Standards require that all CFP® professionals who provide financial planning services will be held to the duty of care of a fiduciary, as defined by CFP Board. Since some CFP® professionals are not involved...

“But The Retirement Calculator Said I Could…” -

Why You Need to Be Cautious with Online Retirement Calculators If you were dealing with a major health trauma, would you turn to a website for a diagnosis? In our “Web-MD” society many people do just that for minor ailments or research, but it seems ridiculous to trust the internet for something that could be life threatening. I imagine, in...

Should We Move Out of State in Retirement to Save on Taxes? -

As Certified Financial Planners ™ in New Jersey, we frequently get the question “should we move out of state to save money on taxes in retirement?” New Jersey is certainly an expensive place to retire and those close to retirement often believe that they need to get out of Dodge in order to retire comfortably. It seems logical that if...

Budgeting for the Holidays -

The holiday season is fast approaching. My house is already abuzz with talk of Wish Lists, and I could probably wallpaper my entire home with the Black Friday catalogs and advertisements that I have received. And while the [grand] children’s heads might be filled with visions of dancing sugarplums, it’s likely that you are considering the more practical matter of...

Choosing the Right Time to Collect Social Security -

When Should I Collect Social Security? Have you ever watched a game show where the contestant reaches a certain point and can either stop and take home a guaranteed prize that is considerable or keep going forward for a much higher prize, but with the risk that he leaves with nothing? Often, I find myself cheering them on when they...

Should I Take a Retirement Buyout? -

You’ve worked hard at your job for a long time. You are now closer to retirement than you are to the day you started, but still years of work ahead. Then, out of the blue, you receive a message from HR with an offer to retire… now. Your productivity comes screeching to a halt as you can’t help but fantasize...

The Difference Between a Fee-Only and Fee-Based Financial Planner -

Why is it often so difficult to choose the right financial planner? First, the sheer number of planners makes narrowing the field seem like an overwhelming task. In addition, the variety of designations, affiliations, associations and an alphabet soup of letters following a planner’s name calls for a dictionary to decipher. Once you narrow it down and decide that you...