“Historically, if you look at the stock market, it goes up over time … It’s not so much about trying to have a crystal ball. I think, instead, you need to think of a strategy,” said E. Linwood Yarborough III, the CEO of Yarborough Wealth Management Group. “If you’re getting cash flow from investments, you have a better chance of sustaining market drops.”
Yarborough Wealth Management Group, a South Carolina-based wealth management firm, primarily counsels working professionals on how to develop savings and investment plans which strive to generate dividends and, later, cash-flow for retirement. The firm has no stated minimum to invest and is open to taking on clients of various profiles, so long as they share Yarborough’s commitment to diligent saving and investing.
“I’m looking for clients who want to save money on a continuing basis … I’m not really looking at the retirement market, I’m looking for working people,” Yarborough told The Suit Magazine in a recent interview. “What I enjoy doing is setting up monthly savings and investment programs … And I think [saving and investment] needs to be systematic and automatic.”
Yarborough focuses on what he calls “money in motion,” meaning significant life changes. Money in motion could mean someone is purchasing a home, changing careers, or recently was promoted – either way, it means life is changing and it’s a good time to settle into some healthy financial habits, he said.
“I’ve found that generally people will make a lot of changes at one time and then they’ll be set for five years,” Yarborough said.
Yarborough’s approach emphasizes overall financial health over market-beating gimmicks. Debt should be aggressively paid off and saving should become a priority early in life, he said. Low, or no, debt and a solid set of dividend-paying investments are a “great way to sail into your later years,” Yarborough said, adding that sometimes people should not retire until they are debt-free.
Dividends without debt can also help insulate aging investors from health problems – such as expensive knee replacements – or other unforeseen challenges.
Financial stability helps investors weather unexpected market storms as well. Those unexpected corrections also leave Yarborough feeling frustrated with the new Department of Labor rules mandating that finance professionals (including insurance brokers and others) act as fiduciaries. Most the industry acts with “immense integrity,” but no one knows the future, he said.
“The problem is that we are in an industry that is dynamic … We can’t always predict what the changes are going to be and how they will affect clients,” he said. “It’s a manageable risk but it’s still risk.”
Debt is a bigger problem than market corrections, Yarborough said.
“If you retire without debt, then you can live comfortably with whatever you get from your investments,” he said. “It’s hard to grow your wealth if you’re in debt.”
Learn more about The Yarborough Wealth Management Group visit: www.yarboroughwealthmanagementgroup.com
Securities and Advisory Services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC.
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