Do You Need A Life Insurance Review?

By Mike Guarino

If you were to die tomorrow, what would happen to your family? Would they be able to cover their basic living expenses? Would your kids be able to go to college? Although many people try to avoid this uncomfortable topic, the answers to these questions are vital to your family’s well-being. According to a 2017 study conducted by LIMRA, more than half of consumers say they would have immediate or near-immediate trouble covering living expenses if their primary wage-earner died. But despite this bleak statistic, only 54% of Americans having any form of life insurance at all. And of those who do have coverage, more than 30% say they are underinsured.1

While there are many important aspects to financial planning, such as setting goals, aligning your portfolio with your risk level, and planning for future life milestones, life insurance plays a critical role when the necessary time comes. The tricky part is knowing if you need life insurance and, if so, how much and what type is appropriate for your situation. This is where a life insurance review comes in. Here are three questions we will discuss during your life insurance review with us at Guarino Wealth Management.

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Medicare Open Enrollment Starts Soon; Here’s What You Need To Know

By Mike Guarino

If you’ve thought about retirement at all, you’re probably aware of Medicare, a federal insurance program designed for people older than 65. What you might not know is that with Medicare, there are many options to consider and details to keep in mind. And with healthcare being one of the top five expenses in retirement, (1) your Medicare decisions could have a significant impact on your finances in retirement.

As we draw closer to 2019’s Medicare open enrollment period, let’s review what you need to know to make the best Medicare choices for your unique situation.

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How To Maximize Your Health Savings Account (HSA)

By Mike Guarino

Healthcare costs. Just those two words are enough to give anyone anxiety. Even if you have comprehensive health insurance, just one hospital visit could cause you to deplete your emergency fund or force you to dig into your long-term savings to avoid going into debt. That’s why it’s not surprising that many Americans fear medical bills more than the underlying illness. (1)

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How To Teach Your Kids About Money

By Mike Guarino

If I were to ask you, “What do you want your kids to know before they leave your house as an adult?”, your answer would probably include things like a solid work ethic, empathy, responsibility, kindness, and respect. (1) And while no one will argue the importance and value of these traits, financial literacy should be at the top of the priority list as well. 

Your kids are going to learn about money from someone. Don’t you want that someone to be you? If you don’t know where to start, here are some tips!

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What We Do And How We Can Help

By Mike Guarino

Have you ever wished you had direct and easy access to a financial professional for questions that pop into your mind? Instead of searching Google for answers and always wondering if the information is correct or applicable to your specific situation, wouldn’t you rather have a trusted professional to turn to? Think of how much your stress could decrease if you could just dial up a lawyer or a doctor, get personalized advice from someone who knows you, and can help you make decisions with confidence!

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Why I Became A Financial Advisor

By Mike Guarino

People change jobs or careers for a variety of reasons, such as better pay, a move to a new city or state, or they were just ready for a new challenge. I fall into the latter category. I spent many years working in Corporate America as a successful IT professional, but I always felt that something was missing. I was pretty happy with my career but over time I began to realize that I wanted to spend my time making a real difference in people’s lives. I ultimately chose a career as a financial advisor because of my father. He spent over 20 years in the industry and I saw how happy he was helping people prepare for the future. In 2008, my father and I founded Guarino Wealth Management. Sadly, my dad passed away in 2018 but I continue to lead the firm and continue his legacy. It’s my hope to have my three sons join me in this field that has become my passion for over a decade.

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Economic data have consistently missed expectations recently as investors and Wall Street have struggled to quantify the impact of global trade and political risks.

As shown in the LPL Chart of the Day, the Bloomberg U.S. Economic Surprise Index has dropped sharply over the past few months, showing the degree to which consensus estimates have been overestimating economic trends.

Economic Data Relative to Consensus Hits 3-Year Low

December’s retail sales report was just the latest instance in a string of whiffs for consensus predictions. Retail sales unexpectedly fell 1.2% in the month, missing consensus estimates for a 0.1% gain by the widest margin since March 2009 and sparking questions about the report’s accuracy.

In response, over the past few months economists have cut their fourth quarter 2018 gross domestic product (GDP) forecasts to a range of 1.5–2.5%. If fourth-quarter GDP growth ends up at the lower end of that range, it would be the slowest pace of GDP growth since the fourth quarter of 2015.

We’ve also seen enough evidence to think 2019 GDP growth is likely to be closer to the lower end of our original 2019 forecast (2.5–2.75%), with risks balanced to the upside and downside. Even though we’ve slightly lowered our growth expectations, we still expect the core Consumer Price Index (CPI) to grow 2.25–2.5% in 2019.

“Heightened trade and political uncertainty have clearly weighed on corporate and consumer sentiment, which we think may weigh on U.S. output growth this year,” said LPL Research Chief Investment Strategist John Lynch. “Still, we think a slight increase in inflation would make sense given the firm U.S. labor market and the possibility that economic activity could stabilize after trade headwinds subside.”

As we mentioned in our Outlook 2019, we still believe stronger growth in business spending may drive this leg of the economic expansion, as higher investment leads to greater worker productivity and profit growth. However, investment may be muted until the trade dispute with China is resolved.

For more details on our revised forecasts, check out this week’s Weekly Economic Commentary.


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. The economic forecasts set forth in this material may not develop as predicted.

All indexes are unmanaged and cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. All performance referenced is historical and is no guarantee of future results.

Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.

This research material has been prepared by LPL Financial LLC.

To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial LLC is not an affiliate of and makes no representation with respect to such entity.

The investment products sold through LPL Financial are not insured deposits and are not FDIC/NCUA insured.  These products are not Bank/Credit Union obligations and are not endorsed, recommended or guaranteed by any Bank/Credit Union or any government agency.  The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.



This modern twist on the Ben Franklin maxim reflects the multiplicity of taxes to which earnings are subject in today’s world.¹ Finding ways to manage expenses is one of the cornerstones of a sound financial strategy.

Here are some simple and inexpensive energy-saving tips that may help you save money.


To better understand where opportunities may exist for improving energy efficiency, consider an energy audit. Perform one yourself by purchasing a home energy monitor, which tracks your energy use, and a handheld air leak detector to identify windows, doors, and other areas of the home that are drafty.

Also, your local power utility may offer in-home energy audits or related services that can help identify remediation opportunities.


Consider these do-it-yourself ideas that may offer immediate savings at very little cost.

  • Install a programmable thermostat to automatically lower the heat or air conditioning because—let’s face it—you forget to do it.
  • Devices that offer “instant on” or continuous display (e.g., TV, cable box, and recharger) use energy non-stop. Consider a power strip to reduce their electrical use by shutting off the power strip at bedtime.
  • Plug up air leaks through weather stripping or caulking; install door sweeps to block drafts. Close the fireplace damper when it’s not in use.
  • Be sure to have your heating system serviced to ensure maximum efficiency.
  • Install a water heater blanket and turn the heater down to 120 degrees; not only is a higher temperature wasteful, but a lower temperature is a safety precaution for younger children. Lower it to a minimum when you leave for vacation.


For many, the cost of running their automobile(s) can be higher than the cost of running their home. Here are ways to save:

  • Tune up your car.
  • Check your tires for proper inflation.
  • Drive sensibly by eliminating excessive idling, aggressive driving, and speeding.
  • Eliminate weight — empty that trunk!
  1. Brainyquote, 2016
  2. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.