Thomas Mullooly - Profile and Journalist Details
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Thomas Mullooly
Verified
Co-Host, Mullooly Asset Management
New Jersey
Beats
gardening, guides and awards.high tech, healthcare feature writing, fitness banking and finance, wellness health
journalist
Content
By Thomas Mullooly| Mullooly Asset Management@ 401k Loans Are Bad? Here are some key takeaways:– Taking 401k loans can significantly impact retirement savings due to missed opportunity costs, potentially reducing the final balance by hundreds of thousands of dollars. – Having an emergency fund is crucial to avoid dipping into retirement accounts for unexpected expenses. – 9 out of 10 employees experience a significant spending spike of 25% or more over a 12-month period, highlighting the need for substantial emergency savings.
By Thomas Mullooly| Mullooly Asset Management@ It’s OK to Spend Money in Retirement Here are some key takeaways: – Even wealthy retirees fear outliving their money, struggling to transition to spend money in retirement – It’s important to do personalized financial analysis to determine how much “slack” is in your retirement plan – Retirees need to mentally give themselves “permission” to spend money in retirement – Retirement spending isn’t necessarily a straight line – it may fluctuate over time – Some may find it easier to spend from...
By Thomas Mullooly| Mullooly Asset Management@ 401k Loans Are Bad? Here are some key takeaways:– Taking 401k loans can significantly impact retirement savings due to missed opportunity costs, potentially reducing the final balance by hundreds of thousands of dollars. – Having an emergency fund is crucial to avoid dipping into retirement accounts for unexpected expenses. – 9 out of 10 employees experience a significant spending spike of 25% or more over a 12-month period, highlighting the need for substantial emergency savings.
Company Info
Mullooly Asset Management
Mullooly Asset Management, Inc. is a fee-only, registered investment advisory firm located in Wall Township, New Jersey. We manage investments and build financial plans for individuals and families. We're a family business – four advisors (a father and three sons) who work together as a team, building your personal financial plan and managing your investments. Your future is our family's priority.
New Jersey, United States
+1 732-223-9000
Founded: 2002