In Current Financial Crisis, NYC-Metro Professionals Face Unique Challenges

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Financial Life Planning is a Path to Prudent Decision-Making and Maintaining Personal Balance, According to Research from Livingston-Based Expert Michael Kay Three Financial Planning Principles to Live By in Any Financial Environment

irreplaceable, and an indispensable starting point for achieving financial, and personal, balance in one's life.

In a time of deep economic stress, everyone feels pain. The challenges are unique for professionals in the New York metro area, where much of the local economy turns on financial and retail industries that have been especially hard hit.

With job losses common, 401K accounts shrinking and other sources of financial pressure causing many to re-evaluate their financial situation, one local expert believes the moment can be not only challenging but ultimately, beneficial and even liberating.

"In my view, we are in the midst of a hundred-year financial storm," says Michael Kay, President of Livingston-based Financial Focus LLS, a financial advisory firm with associates having more than $150 million under management. "But that makes it critically important that professionals, especially those with significant assets they see shrinking away, find the tools they need to feel as though they are not drowning."

He concluded, "This, more than any, is the right moment to create a solid financial plan, with tools that Financial Life Planning can supply."

Kay's practice is made up entirely of clients with minimum net worth of $500,000, and applies the principles of Life Planning to help keep the assets well preserved - and the individual's focused on the long-term.

He offers three bedrock Life Planning principles as starting points:

1.    Have a plan - Nothing replaces the creation of a financial life plan that reflects your goals, values and dreams. One needs the dedication and focus to take your plan from thought to action.

2.    Stick to the Plan - Life Transitions happen, sometimes without warning (job loss, death, changes in circumstances). These changes can be personal and intimate, or brought on by financial storms such as the ones we are experiencing. Having a plan that is flexible and responsive to your life is essential. An integrated plan that focuses on helping people through those difficult transitions is vital.

3.    Consider the Context - We do not live in a vacuum. Recognize that everyone's financial situation is part of a larger whole - the larger issues and circumstances that provide the context for his or her life . . . focus on the CONTEXT as well as the specific financial issues, or rather, USE the context to help create an integrated approach to financial strategy.

Based on more than three decades in the financial services industry, through "up" markets as well as down, Kay argues these principles are "irreplaceable, and an indispensable starting point for achieving financial, and personal, balance in one's life."

For more information on the Financial Life Planning approach, visit, or Money Quotient is not affiliated with Securian Financial Services.

About Financial Focus, LLC, and Michael Kay

Financial Focus, LLC ( is a leading Financial Life Planning Firm, based in Livingston, New Jersey, whose associates have more than $150 million in assets under management. Financial Focus President Michael Kay, is a Certified Financial Plannerâ„¢ (CFP®) practitioner and a former CPA, who has worked as an executive in the financial industry since 1976. Mr. Kay teaches in the CFP program in Taxation at New York University, also teaches at Farleigh Dickinson University's Madison, NJ, campus, and is an expert in the areas of financial and tax planning, personal investment strategy and wealth management. He is a registered representative and investment advisor representative of Securian Financial Services, Inc., Member, FINRA/SIPC. Financial Focus LLC, is independently owned and operated.


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