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Lawrence Sprung Named a Member of the Male Ally Network at Females & Finance

Females & Finance

 

Larry is proud to be named a member of the Male Ally Network at Females & Finance and to join these other great men in supporting the platform to grow better businesses together in financial services and financial technology. 


UL: Darrell Hickerson with Females And Finance and Unified Financial Network
UC: David Wood of Gateway Financial Partners
UR: Noel Evans of Long Term Care Solutions
CL: Aaron Klein of Riskalyze
CR: Marcus Burns of PNC
LL: Lawrence Sprung, CFP® of Mitlin Financial, Inc.
LC: Gary O. Clement, CFP®, CRPS®, CRPC®, AFC®, MPAS® of Clement Asset Management
LR: Daniel Bolton of Riskalyze
 
 
This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

CNBC Appearance by Lawrence Sprung

  CNBC Photo

 

Larry Sprung had the pleasure of sitting down with Sharon Epperson in the CNBC studios on Thursday, February 27, 2020 to discuss the topic of Adulting.

𝗜𝗳 𝘆𝗼𝘂 𝗺𝗶𝘀𝘀𝗲𝗱 𝘁𝗵𝗲 𝘀𝗲𝗴𝗺𝗲𝗻𝘁 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗿𝗲-𝘄𝗮𝘁𝗰𝗵 𝗶𝘁 𝗵𝗲𝗿𝗲

mitlin.us/CNBCsegment

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Signing Your Important Documents in 2020

2020 Photo

 

The New Year, 2020, has gotten off to a great start and it has also raised some interesting questions when it comes to signing important documents. Many of us would typically sign documents this year using the shorthand “20” to represent the year 2020, but this could put you at major risk if you do.

Simply using the “20” when dating will leave your important documents susceptible to someone changing the date. Imagine you sign a legal document with a vendor or someone doing work on your home and you place the date 1/2/20, which seems harmless enough. In truth, this is not a big deal unless an issue arises or someone decides to change the date to read 1/2/2018.

As you can see, it is really simple for someone to change the date you signed the document. All they need to do is add the two numbers at the end and it looks as though the document had been signed years earlier. This could present an opportunity for scammers to utilize this to their advantage.

There is an easy way to protect yourself against this issue. When dating documents, legally binding or otherwise, we would suggest writing out the whole date. In the example above, just write 1/2/2020 and this should insulate you from the majority of issues.

Keep in mind, there are scammers out there that will try to alter dates regardless of how you write them and even doing this may not prevent that. The idea here is to make sure you do what you can in order to minimize the risks to you and your family. Do not take any shortcuts this year when dating documents.

Little things like dating documents are sometimes overlooked. We are here to make sure you are protected as best you can be and that is why we share tips like this. Feel free to contact us with any additional questions you may have on this topic or any others we have written about. We welcome the opportunity to connect and can be reached at (844) 4-MITLIN x12.

Be sure to share this article with friends, family and business acquaintances who might be interested too. We look forward to helping you, and them, get on the right path and stay there.

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Zachary Sprung Joins 2020 Student of the Year Campaign

I’m very excited to share with you that my son, Zachary Sprung, is part of the 2020 Student of the Year campaign.  Over the next 5 weeks, he will be working to raise money and awareness for The Leukemia & Lymphoma Society (LLS) and their mission to cure blood cancers. 

He is honored to be a part of such an outstanding group of fellow students, but it is an even larger honor to be able to work for the patients, survivors and their families.

Zach's personal goal is to raise $15,000 between today, and March 11th.  It’s a lofty goal, but he is willing to work hard to reach it. He cannot do it alone, and he needs your help. 

You can donate via his personal fundraising page: https://events.lls.org/li/lisoy20/zsprung 

Not only is this campaign a great way to support LLS and their life-saving work, but it’s a great leadership opportunity for him. Students receive scholarships based on their fundraising and awareness efforts. I am so excited to be able to share how he is trying to make a difference in the community. 

Thank you for your generosity and support. Your donation truly makes a difference and with your help, we’re one step closer to a cure for blood cancers. 

P.S. Does your company have a matching gifts program that might be willing to match your donation? Be sure to fill out the matching form if they do.

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We appreciate any support you can provide to Zach and this great cause!

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Three Main Contributors to The Student Debt Crisis

 CollegeDebtCrisisAs many of you know, I am knee-deep in the college planning process for my oldest who is a junior in high school and student debt has been a hot topic. The student debt issue in this country is real and a $1.5 Trillion Dollar one at that. This exceeds the outstanding debt for consumer car loans and credit cards too. So how are we here? Why are the future leaders of our country and economy racking up debt to such a large extent?

The way I see it, there are three parties at fault for this crisis and it needs to be addressed before it becomes a larger issue for the economy at large. In looking at this issue I see three main contributors, the schools, parents and students, and the government. Let’s address each one in further detail.

1) Schools have become one of the largest contributors to the crisis. They are higher learning institutions that have become marketing machines. They inundate potential students with information, enticements and many times inaccurate information regarding their institution to get you to attend and fork over the huge tuitions. Universities have also uncovered a way to keep you longer, the five-year program. It used to be college students would be on the five-year program if they could not find their way while attending, now the schools simply have designed programs to keep you longer.

What is the ROI for a student that spends the fifth year instead of entering the workforce after four? Is it that much higher to make it worth the time and money? I would argue that, unless you are entering a specific specialty that requires the fifth year, the return on that investment is very low.

 

2) Parents and students certainly are contributing to this crisis too. We all want the best for our kids, but does it make sense for us to put our families in financial strain and/or our children in debt. I have seen numerous instances where kids have attended Universities, that have caused this type of financial strife, just because they had a sports team they wanted to root for or because they wanted to go to warmer weather. I thought going to college was to get ready and prepare you for the real world and a career. Based upon that, shouldn’t we be evaluating schools on their ability to provide your students with the greatest return on investment for their chosen area of interest?

We, as parents, must educate our children on what the cost-benefit of going to school is and put guardrails on what can be spent. Each family is different, based upon their income level and savings, but there should be some parameters put into place. Encouraging our children to take loans, without educating them on the long-term effects on their financial situation, is the equivalent of putting them in a boat without a life vest. Not many seventeen or eighteen-year-olds comprehend the true cost of taking on $100,000 in loans for their education. It is our job to help them understand what it means.

 

3) I blame the government for this problem too. They are too quick to provide loans to our young people without having them understand what they are committing too. Loans are an important part of the education process and they should be available to those that need them and understand the ramifications. There has to be a way that there could be a requirement that these students receive some type of education showing them what the effects will be. Offering a student a loan to get their education and deferring their payments until they graduate sounds fantastic, even better to a young person. Many do not realize that these loans, although no payments are being made, are accumulating interest from day one and will be much larger when they begin payments. We must show them what the loan is going to cost them in the long run and how long it could take for them to potentially pay it back.

 

The student loan crisis is a complicated one but needs to be addressed. It needs to be attacked from several angles and not just one. As you embark on the college planning process please keep these issues in mind and think twice before you take on a great deal of debt for your family and your child. I would be happy to discuss your situation with you or anyone that you know. Just contact us, Mitlin Financial, at (844) 4-MITLIN x12 to schedule a time if you would like to discuss the college planning process and the effect it could have on your family’s financial situation.

Be sure to share this article with friends, family and business acquaintances who might be interested too. We look forward to helping you, and them, get on the right path and stay there.

This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

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