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Making Sense of Your Money

by Erica Bauwens-Young

The end of 2016 comes with significant change to our country. The shocking presidential election results—combined with changes in international policy around the globe—left many Americans asking the same question: What’s next?

“We have been inundated with calls regarding the confusing state of the world, the economy and the changing political outlook,” explains Stan Molotsky, president and CEO of SHM Financial. Molotksy has made a name for himself as a leader in South Jersey finance, and says that now more than ever is a time to build a plan.

“Certainly the world is different than it was six months ago, and it is much different than it was three years ago,” he says. “It’s a matter of reflecting and saying, OK, where do we go from here? When we look to the future we know that nobody really knows. You have a new administration going in and you don’t know what direction they’re going to go. So you want to know what risks you want to take at this point, how to maximize your asset base and protect yourself against uncertainty.”

Luckily, the team at SHM Financial is prepared. They have dedicated their lives to securing financial health for families all over the area, and know that now is the perfect time to revisit your finances, or tackle that long-put-off first step.

“There is a lot of confusion, and if you’re not putting your assets in a place to override that confusion then you’re putting yourself in a bad place,” says Molotsky “Everyone is different; everyone has different goals and objectives. So start by asking: What are you trying to accomplish and how much of a risk should you take at this particular time going forward?”

In the vein of planning ahead, Molotsky and his son, Lee Molotsky released their own book last year which now serves as a perfectly timed guide for your financial future. Exit Strategies: Innovative Financial Solutions That Protect Both Your Income and Your Independence is an all-encompassing, 14-chapter guide for managing your financial needs.

“One of the reasons we wrote this book was because you should always be prepared,” explains Molotsky. “This is a time when people aren’t really sure about what is going on in the future, so now is the time not to be complacent and to protect your assets.”

From finding the right financial planner to building an income plan and exploring new investment opportunities, the Molotskys used their decades of experience— including time spent teaching in schools across the area, and work on a radio show and television program—to craft a book that helps all ages work toward their own, individual goals.

“We cover the whole picture, we’re not just one-dimensional,” says Molotsky. “We wanted to cover the things that we cover when we sit down with a client. We wanted people to take a look at what they really own and how to maximize that, while taking a look at some of the income tools that are available today that didn’t exist in the past.”

The book—which is now available as an audio book through SHM Financial—is also a way for couples to work together to understand each other’s financial wants and needs for a solid, more united future. “We have a questionnaire in the book that you can fill out to rate your goals from one to 10. Give one to each spouse and do them separately, then talk the lists over together,” he says. “You have to know yourself and the amount of risk you really want with your assets, and what you’re really looking for your assets to do. Do you want to generate an income, pass on your funds to an heir, prepare for retirement?”

All proceeds from Exit Strategies for a Secure Retirement go to help the Jewish Federation of Southern New Jersey’s special needs program, located out of 1721 Springdale Road. The thousands of dollars they’ve generated have helped provide educational and social programs for special needs children and adults all over the area, including work and career training, and is a program that is near and dear to the Molotskys’ hearts.

And while Molotsky has dedicated his life to helping people prepare for retirement, he says that his love for his career, and the ability to work with his son and brother to help his neighbors build more stable futures, keeps him from doing just that. “People always ask me: When are you going to retire? And the answer is I have no plans to. I’ve been doing this since 1958: I love my career, I love this work and I love helping people.”

SHM Financial
1010 Haddonfield-Berlin Road, Suite 305
Voorhees, SHM Building
100 Richey Ave
1 (800) MONEY-SHM

Published (and copyrighted) in Suburban Family Magazine, Volume 7, Issue 10 (December, 2016).
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