Michael Tanney

To build generational wealth, prioritize savings, build an emergency fund, and develop an estate plan.

“Debt can be an extremely powerful tool when used properly,” Michael Tanney, senior managing director of New York-based Magnus Financial Group, says.

Here's where to put your cash when stocks are volatile and inflation is high.

Thinking of Refinancing? Here’s What to Consider During COVID-19

As we grow up, one of our responsibilities as adults is handling our finances. No one wants to be broke and to be drowned in debt all their lives, right?

Dividend reinvestment is one way to grow a portfolio.

When selecting DRIP funds or dividend-paying stocks to invest in, know what you own is a good rule to follow.

"Identify companies that resonate with you or your family on a personal level," Tanney says.

An investor who is partial to Johnson & Johnson (ticker: JNJ) products, for example, may choose to invest in that stock for dividend growth. Someone else may lean toward Hormel Foods (HRL) if they prefer that brand. Both… Show more

Dividend reinvestment is one way to grow a portfolio.

When selecting DRIP funds or dividend-paying stocks to invest in, know what you own is a good rule to follow.

"Identify companies that resonate with you or your family on a personal level," Tanney says.

An investor who is partial to Johnson & Johnson (ticker: JNJ) products, for example, may choose to invest in that stock for dividend growth. Someone else may lean toward Hormel Foods (HRL) if they prefer that brand. Both companies are dividend aristocrats, meaning they've increased their dividend payout to investors for 25 consecutive years or longer.

It's important to research DRIP stocks that are unfamiliar before venturing in. Walk says the number one mistake investors make with DRIP account investing is choosing stocks based on what's trending without doing any research into the company first. Show less

Everything changes when you become a parent — especially your finances. You want to make sure to start off on the right financial footing. But, financially speaking, where do you begin? What’s the best financial advice new parents need to know? Big picture, what should you focus on first?


Focus on Housing — And Creating a Forced Savings Plan

The first chance you have to own a roof over your head, you should do so. The dwelling should be modest at best. It’s not meant to be… Show more

Everything changes when you become a parent — especially your finances. You want to make sure to start off on the right financial footing. But, financially speaking, where do you begin? What’s the best financial advice new parents need to know? Big picture, what should you focus on first?


Focus on Housing — And Creating a Forced Savings Plan

The first chance you have to own a roof over your head, you should do so. The dwelling should be modest at best. It’s not meant to be your forever home. Life will throw you curveballs, whether you care to admit it or not. Having a roof over your head, and allowing you to focus, is essential to your mental health and financial well-being.

If you live in an area of the world (for example NYC) where the rent to own ratio is out of balance (cheaper to rent), then don’t feel obligated to own. You should, however, feel compelled to put money away every paycheck as if you were paying a mortgage. This forced savings plan regardless of how well the stock market or economy is doing (or not doing), will allow you to compound your money and potentially grow substantial wealth over time. Show less

Advice for parents who want to be kind without splitting the family.

Imparting important financial lessons, including saving strategies and money-management skills, is crucial to help your children achieve long-term success.

Tips to protect yourself.

A vast number of people out there have borrowed to pay for college for their children. It’s a huge issue...

By setting and forgetting contributions, your nest egg can grow faster.

The common path finds most folks paying off a mortgage before retiring. But in some cases it makes sense to take the road less traveled.

Target date funds are the fastest growing segment on the 401k investment menu. In the more than ten years since they’ve become a default staple in 401k plans, target date funds have certainly changed the retirement prospects for employees. How have these investment vehicles changed the roles, responsibilities, and even the fiduciary liability of the plan sponsor?

Americans of a certain age are flocking to warmer, cheaper countries for retirement. By all accounts, many are thrilled with the choice, but experts warn costs may be higher than advertised and the foreign economy and political stability can change. So the move to expatriate status should be weighed carefully, with special attention to living costs, banking and investments.

A real estate investment trust, known as a REIT, affords all the perks of property ownership without the headaches of being a landlord. Specialty REITs offer exposure to unique properties that don't fit the traditional real estate mold. Specialty REITs are carving a name for themselves in the market, delivering a dividend yield as high as 8 percent.

You’ve saved a good chunk of money, or at least are on a path to do so. Now, you might be wondering what’s better: Invest in real estate or put your money in the stock market?

INFLATION HASN'T BEEN A big concern for years, but that can change as the economy gathers steam, causing another worry for investors who need to make a nest egg last for life.

That's where the Treasury's inflation-protected securities, known as TIPS, come in. At least, that's the pitch. TIPS are designed to hold their value even when inflation chews away at other investments. But TIPS are not exactly generous income producers, currently paying only about 1 percent over the inflation… Show more

INFLATION HASN'T BEEN A big concern for years, but that can change as the economy gathers steam, causing another worry for investors who need to make a nest egg last for life.

That's where the Treasury's inflation-protected securities, known as TIPS, come in. At least, that's the pitch. TIPS are designed to hold their value even when inflation chews away at other investments. But TIPS are not exactly generous income producers, currently paying only about 1 percent over the inflation rate.

Is the risk of inflation high enough today to justify settling for so little in "real," after-inflation return? Show less

"Ignore the noise. Whether the market drops again tomorrow or for two straight weeks, short-term gyrations don’t make a difference to your long-term investment goals. If you must succumb to some level of emotions, set stop-loss levels every time you enter a new position. I have a rule that regardless of the circumstances, I sell my position when it’s down 20%. I must wait five days before entering again, hopefully giving me enough time to confirm my belief in the investment or realize that the… Show more

"Ignore the noise. Whether the market drops again tomorrow or for two straight weeks, short-term gyrations don’t make a difference to your long-term investment goals. If you must succumb to some level of emotions, set stop-loss levels every time you enter a new position. I have a rule that regardless of the circumstances, I sell my position when it’s down 20%. I must wait five days before entering again, hopefully giving me enough time to confirm my belief in the investment or realize that the thesis has changed.

If the experts knew what caused the crazy swings in the market, they would be able to profit off the moves before they occurred. Anyone who claims to know, in the absence of substantial news, is playing Monday morning quarterback.

It's always easy to explain why things occurred after they occurred, but nearly impossible to accurately predict when they will occur." Show less

Excuse No. 1: 'I'm waiting for things to get better.' Michael Tanney, co-founder and managing director of Wanderlust Wealth Management, a New York City-based investment advisory firm, says that he often listens to this excuse from clients, along with, "I'll invest my money after (insert any excuse)."

The long list of justifications people make for neglecting to save for retirement are understandable. People get overwhelmed with bills or financial stress and choose not to focus on… Show more

Excuse No. 1: 'I'm waiting for things to get better.' Michael Tanney, co-founder and managing director of Wanderlust Wealth Management, a New York City-based investment advisory firm, says that he often listens to this excuse from clients, along with, "I'll invest my money after (insert any excuse)."

The long list of justifications people make for neglecting to save for retirement are understandable. People get overwhelmed with bills or financial stress and choose not to focus on long-term goals like saving for retirement or boosting their kids' college funds until their money situation improves, or after a major life change like moving into a new home.

The problem with this thinking is when people "get caught in a compound lifestyle inflation situation," Tanney says. "For every dollar more they earn, they spend the extra dollar on an increased lifestyle." In other words, if you get a raise, and you don't put some of that money toward retirement or general savings, you'll never get ahead, he explains. While there's nothing wrong with using some of that windfall to make your life more comfortable, "hopefully, you continue to make more, continue to live better and continue to put more away for your future self." Show less

Market news is full of economic indicators valuable to investors. Unless they're not.

New York City real estate has recovered well from the recession, but it still may not be the best investment for your money, experts say.

Potential clients aren’t the only ones asking the tough questions. Michael Tanney, founder and managing partner of Wanderlust Wealth Management says he’s interviewing them, just as much as they are questioning him.

For Tanney, clients who understand that all successful long-term investing is goal-oriented and therefore discipline-driven are the ones who tend to pass his interviews.

From retirement security to living debt-free, this big birthday is your chance to step it up so you can reach your financial goals.

Don’t show your employer too much love: You don’t want a portfolio full of your company’s stock. “You’re already exposed to your company through your paycheck and stock rewards/bonuses,” says Michael Tanney, founder of Wanderlust Wealth in Manhattan.

"Humans are bad traders," says Michael Tanney, managing partner of New York-based Wanderlust Wealth. "The lizard part of our brain tells us the exact wrong time to buy or sell."

The clear winners in the continued migration of advisors to independence are the burgeoning number of third-party platforms that cater to advisory firm’s needs. “In the example of my firm, with no legacy technology systems or processes in place, I’m able to leverage external operational providers to maximize my time with clients and minimize my time spent on the day-to-day responsibilities,” said Michael Tanney, co-founder and managing partner of NYC-based Wanderlust Wealth Management, an… Show more

The clear winners in the continued migration of advisors to independence are the burgeoning number of third-party platforms that cater to advisory firm’s needs. “In the example of my firm, with no legacy technology systems or processes in place, I’m able to leverage external operational providers to maximize my time with clients and minimize my time spent on the day-to-day responsibilities,” said Michael Tanney, co-founder and managing partner of NYC-based Wanderlust Wealth Management, an independent investment advisory firm. “We can stay a boutique firm while building a scalable and sustainable business model. Less than ten years ago, I would have had a more difficult time developing my business effectively on my own.” Show less

Income investors should not ignore zero-coupon bonds, but interest, volatility and taxes come into play. "If the goal is to have a specific amount of money in a specific number of years from now, short-term debt is very risky and carries significant interest rate and re-investment risk, and a zero-coupon bond is a great solution, says Michael Tanney, co-founder of New York City-based Wanderlust Wealth Management.

Michael Tanney, co-founder of Wanderlust Wealth Management, has two tips that can help homeowners as they search for a home that can easily grow with their family.

Michael Tanney- Managing Partner & Co-Founder of Wanderlust Wealth Management and father of a son age 20 months, talks with Financial Expert- Tammy Johnston about kids and money & how this usually taboo subject is handled in their family.

"Millennials have longer investment horizons, which enable them to take more risk, ride out volatile times, and put less emphasis on their original purchase price. For millennial investors who are just starting out, invest in names of companies that you recognize and appreciate. Disney is a favorite stock of mine to use as an introduction to investing," said Michael Tanney, co-founder of Wanderlust Wealth Management.

Michael Tanney, co-founder of Wanderlust Wealth Management, cautions that this late in the economic cycle and with a recession probable within the next couple of years, retirees should not reach for additional yield or famous high-growth names such as the FAANG stocks. "Focus only on the highest-quality value companies, which have robust balance sheets, reliable dividend growth, and fundamental business models that are solid even during the deepest of recessions, such as Walmart, Dollar Tree… Show more

Michael Tanney, co-founder of Wanderlust Wealth Management, cautions that this late in the economic cycle and with a recession probable within the next couple of years, retirees should not reach for additional yield or famous high-growth names such as the FAANG stocks. "Focus only on the highest-quality value companies, which have robust balance sheets, reliable dividend growth, and fundamental business models that are solid even during the deepest of recessions, such as Walmart, Dollar Tree, etc.," said Tanney. Show less

Building a thoughtful, broadly diversified portfolio of quality investments and leading a higher education institution have similarities. I make disciplined adjustments based on a multitude of factors while ensuring the integrity of the portfolio is never compromised. The same delicate balance is required when making changes at an educational institution. The balancing act dictates the velocity of the change. As you can infer, neither a portfolio nor educational institution is built to move… Show more

Building a thoughtful, broadly diversified portfolio of quality investments and leading a higher education institution have similarities. I make disciplined adjustments based on a multitude of factors while ensuring the integrity of the portfolio is never compromised. The same delicate balance is required when making changes at an educational institution. The balancing act dictates the velocity of the change. As you can infer, neither a portfolio nor educational institution is built to move quickly or on emotion. Show less

If you don’t feel confident about your advisor, trust your gut, and get a second opinion, suggests Michael Tanney, Co-Founder of NYC-based Wanderlust Wealth Management. "Use the findings to ask your current advisor. Judge the advisor’s answers based on honesty, integrity, and transparency. This is a great exercise that conveys to your advisor that you are watching closely and are no longer uninformed about your choices going forward."

“Bitcoin will not crash toward zero and disappear, nor will it grow limitless to the sky. Bitcoin will remain relevant...,” said Michael Tanney, co-founder of Wanderlust Wealth

“Don’t be afraid to share if you are in debt, your approximate take-home pay, what you like to spend your money on or how much you try to save,” says Michael Tanney, co-founder of Wanderlust Wealth Management in New York. “If you are looking at your relationship as a long-term investment and don’t know each other’s balance sheet, you’re gambling, not investing.”

Michael Tanney, co-founder of Wanderlust Wealth in New York warns investors..."[A]lternatives lack liquidity, possess long hold periods, and have high-performance hurdles after fees..."

“The dominant determinant of...investment success is not investment performance, but investment behavior,” said Michael Tanney, co-founder of Wanderlust Wealth in New York City

"We expect the synchronized global economic expansion to continue. In a historically low interest rate environment, growing U.S. corporate earnings will continue to fuel upward movement in equities. While equity levels from a valuation perspective appear stretched, we think investors who are properly diversified across multiple asset classes will like the results of the fourth quarter of this year and into 2018." - Michael Tanney

“If professionally licensed wealth managers and the companies they worked for were properly incentivized by making decisions based on their client’s best interest at all times, disclosing cross-selling compensation and other conflicts of interest, and overall acting in a transparent and honest way, there wouldn’t be a need for the Labor Department's fiduciary rule.” - Michael Tanney