Maybe you are a first-time home buyer? Or maybe you are looking to secure property as an investment? Either way, it is important to understand all of the ins and outs of a mortgage.  

This episode of Financial Roll Call will provide our listeners with a brief introduction to mortgages. Host James Fay interviews Anthony Marone, who is a loan officer with NJ Lenders. Anthony is a Top 1% Mortgage Banker in America and is considered an expert with originating the Police and Fire Mortgage for New Jersey’s Police Officers.  

And, by the way, he is a cop.  

This episode allowed us to scratch the surface on the topic of mortgages. When our listeners better understand the components of their mortgage, how they change over time and how they can affect equity, they will be in a better position to manage them.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Investing is an effective way to put your money to work and potentially build wealth. However, that is not why the majority of law enforcement officers start investing.   

The real reason that most law enforcement officers begin investing is because our FTO or a Supervisor tells us to sign up for deferred comp. How do I know? Because I was told to sign up, too.  

During this episode of Financial Roll Call, we discuss some of the reasons why we should invest. Whether it is to supplement your pension, outpace inflation, or for liquidity reasons, it is important to know that investing is how you take charge of your financial security. It allows you to not only grow your wealth, but to also generate an additional income stream ahead of retirement or while in retirement.  

Do not just set it and forget it. Take the time to educate yourself when it comes to investing and the investments that you are holding.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Do you have a plan to replace the loss of income to your family if you die?   

Whole life insurance is one type of permanent life insurance that can provide lifelong coverage.   

The accumulation of cash value is the major differentiator between whole life and term life insurance. Part of the premium payments for whole life insurance will accumulate in a cash value account, which grows over time and can be accessed. The savings component, or cash value, can be accessed by the policyholder by either withdrawing or borrowing against it, when needed.   

Pension Maximization could be a big reason why you decide to secure a whole life insurance policy. It is one way to replace the loss of income to your family when you die.   

Remember... Failing to plan is planning to fail. So, take the time to put a plan in place.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Life insurance can provide you and your family with financial peace of mind in the event that something happens to you.  

During this episode, I briefly introduce the listener to term life insurance. Whether it is to replace a family's income for a certain period of time, or to cover mortgage and student loan debt, term life insurance is an affordable way to help financially protect your loved ones.  

It is important to realize that everybody is in a different financial position in their lives. And there is no cookie cutter plan that will work for everyone. Therefore, the next time there is a life insurance rep scheduled to come into your department or calling you on the phone, make sure to ask yourself an important question. Is this person educating me on something or trying to sell me something? Because there is a big difference.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

If you are incapacitated, do your loved ones know what your medical preferences are?  

Do you want a feeding tube? Do you want to be resuscitated? Do you want to donate an organ if you die?  

The Living Will is probably the most important document that all law enforcement officers should have in place. The Living Will is a legal document that specifies the type of medical care that an individual does or does not want to receive if they are unable to communicate their wishes.    

This document is too important to leave to chance. You need to seek the advice of a professional to draft your Living Will, someone such as a Michele Clark here in New Jersey, to ensure that the person knows the estate planning process and how it works in your state.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

If you are sick or injured, who will make medical and financial decisions for you?  

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Well, she's back. Who, you ask? Michele Clark.    

Michele Clark is back, our estate planning attorney. If you remember from past episodes with her, we briefly reviewed the three pieces of estate planning that we like to see in place. Those three items are your will, your power of attorney and your living will. In today’s episode, Michele and I will discuss the power of attorney.  This is a very important legal document that gives one person the power to act for another person.  

Remember... you are your number one asset. And to protect that number one asset, you should take the time to put your wishes on paper.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Welcome to 2021!  

Like me, I am sure that most of our listeners are glad to see 2020 in the rearview mirror. As we settle into the new year, we often hear people talking about New Year’s Resolutions. So, I thought that I would have a little fun with this week’s episode and speak to how the characteristics of a successful resolution parallels with that of a successful financial plan.  

Mindset, motivational goals, a written-out plan, accountability and frequent review are just a few of the characteristics that will lead to a successful resolution, as well as a successful financial plan.   More than half of the people who make New Year’s Resolutions fail because they lack these characteristics. As a financial advisor, I see this first-hand when it comes to unsuccessful financial plans.  

Remember... Failing to plan is planning to fail!

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

On behalf of myself and the entire team at Shore Point Advisors, we want to wish our listeners a Happy New Year. 

As we leave the challenges of 2020 behind us, may we look forward to a happy, healthy and prosperous 2021.  As we did last week, I have decided to replay a previous episode that I truly believe is the foundation to any good financial plan. The focus of our very first episode of Financial Roll Call was to have you, the law enforcement officer, take ownership of the fact that you are your number one asset and your ability to work, make money and build wealth. Also, we briefly discuss several ways that you can lose your number one asset.  

It is the intention of this episode to create a call to action so law enforcement officers will take the appropriate steps to start the process in protecting their number one asset.  Remember... Failing to Plan is Planning to Fail!  Be safe and stay healthy.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Happy Holidays and Merry Christmas from all of us here at Shore Point Advisors. Although 2020 has been a very challenging year, I want to remind you that it is the way you respond to a challenge that makes you stronger. The Financial Roll Call with James Fay Podcast is a direct response to that challenge. Your feedback has been incredible since we started, and I will continue to help law enforcement officers make educated financial decisions that directly affect their retirement.

Because of the hustle and bustle of the holiday season, I want to replay our Cop2Cop episode with Brian Gillespie this week. With all of the stress that the holiday season can bring, I thought it was very important to remind you about Cop2Cop and the services they provide.

Even if you have already listened to this episode, I encourage you enjoy it again. Also, please feel free to forward it out to your law enforcement network. And remember: It's okay not to be okay.

Cop2Cop: https://njcop2cop.com/

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/

Knowledge is power. In this episode of "Financial Roll Call," host James Fay provides a brief introduction into life insurance protection.  

It could be the pandemic or perhaps the media constantly reporting on the death toll that COVID-19 has caused. Or maybe some officers have loved ones or co-workers who passed away due to this pandemic. Whatever it might be, I have certainly received an increasing number of calls over the past year about life insurance. It is rather alarming that many law enforcement officers have no idea what they are covered for while they are employed with their respective agencies, let alone what they lose when they leave or retire.    

Knowing the benefits you have while you are employed (which also helps protect your number asset), and what you lose when you retire, is of extreme importance when building any financial plan.

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Shore Point Advisors is registered as an investment adviser with the State of New Jersey.  Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Securities and Exchange Commission or any state securities authority.

Learn more: https://shorepointadvisors.com/