Ask an Advisor: Compounding Interest

April showers bring May flowers… This age-old adage not only speaks to the natural cycle of growth but also holds valuable lessons for personal finance. Just as the rain nourishes the soil for future blooms, the concept of saving nurtures financial stability and growth. While saving may seem like a simple act, its impact is profound, especially when coupled with the power of compounding interest.

Saving isn’t merely about crunching numbers; it’s an emotional investment in one’s future security. Many individuals often ponder the “what ifs” of needing money unexpectedly. However, by understanding the principle of compounding interest, the importance of consistent saving becomes evident. The magic number here is 72 – a quick calculation to determine how long it takes for an investment to double at a given interest rate. This simple concept can be a game-changer in financial planning.

It’s crucial to impart this wisdom to younger generations. By teaching children and grandchildren about the power of saving early, we equip them with essential financial literacy skills. Even if they can only set aside a small amount each week, the impact over time is significant.

Let’s embrace the spirit of April and sow the seeds of saving!

Happy International Women’s Day! 

Happy International Women’s Day! Today, we join the world in celebrating the remarkable achievements and contributions of women across all walks of life. At Wealth Strategies Partners, we take this moment to recognize and honor the phenomenal women who play pivotal roles in steering our ship toward success.

Heather Beckwith, our Chief Operating Officer, brings an unparalleled level of dedication and strategic thinking to the table. Her leadership has not only shaped the operational backbone of our organization but has also inspired her colleagues to reach new heights.

Julia Hoskins, our Vice President of Operations, is a driving force behind the seamless functioning of our team. Her ability to navigate complex challenges and foster a collaborative environment has been instrumental in maintaining our high standards of service.

Danielle Spence, our esteemed Wealth Advisor, is committed to empowering our clients on their financial journeys. Her expertise and client-centric approach have not only strengthened our relationships but have also paved the way for successful wealth management strategies.

As we celebrate International Women’s Day, we extend our heartfelt gratitude to Heather, Julia, Danielle, and all the incredible women who contribute their talents, insights, and passion to our organization. Your leadership is invaluable, and the impact you make resonates not only within our team but also with our clients and the wider community.

Thank you, Heather, Julia, Danielle, and all the phenomenal women on our team, for your dedication, leadership, and the myriad of ways you make us a stronger and more vibrant wealth management practice.

#InternationalWomensDay #Leadership #WealthStrategies

Financial Planning is an Act of Love

February is the month of love, and we are thinking of you. Whether you’re celebrating a new relationship, the birth of a child, or mourning the loss of a loved one, our hearts are with you.
Significant life changes often result in important updates to the beneficiaries named in your legal documents. To ensure your most important documents remain accurate and updated, we challenge you to review your wills, trusts, healthcare directives and estate plans.
Give us a call today and let our team help you evaluate these documents and ensure your financial house is in order.

Sincerely,

Paul Allen, CFP, MS | President & CEO
Tennessee: 615-457-3481
5500 Maryland Way, Suite 133
Brentwood, TN 37027
Fax: 615-730-7595
Florida: 941-413-0570
400 Burns Ct.
Sarasota, FL 34236

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YOU Are At The Heart of Everything We Do

Dear WSP Friends and Family,

In February, we are continuing to celebrate a decade of excellence in serving your financial needs! This milestone is a poignant reminder of the enduring relationships we’ve cultivated with each of you. Through volatile markets, global conflict and unprecedented times, you have remained at the heart of everything we do, and we are grateful for the unwavering trust you place in our team to keep your financial house in order.

Thank you for celebrating with us and cheering us on as we continue this momentous year. We couldn’t do it without you!

Sincerely,

Paul C. Allen

CFP®, MS | President & CEO

Paul Allen and dog, Dennis


Strong Teams Create Better Results
WSP Sponsors MarineMax Wine, Waves and Wheels Event in Sarasota

Our team had a blast at the MarineMax Wine, Waves & Wheels event last month in Sarasota! It was an unforgettable evening of exquisite yachts, exotic wheels and fine wine under the stars. We’re proud to have sponsored this important community event for three years in a row and always enjoy the new and old friends it brings together!



Financial Planning is an Act of Love: Evaluate important documents this Valentine’s Day
Happy Valentine’s Day! Our hearts are with you.

To ensure your loved ones remain at the heart of your most important documents, we challenge you to review and update your wills, trusts, healthcare directives and estate plans. Significant life changes can result in necessary updates to the beneficiaries on your legal documents. Give us a call today and let our team help you evaluate these documents and ensure your financial house is in order. 

*Call Our Office* 


Ask an Advisor: How do I efficiently repay student loan debt?

One of the hottest topics in the political landscape is student loan debt. Although many people have monthly payments on autopilot, they often fail to search for opportunities to efficiently repay debt. 

Visit the link below to hear from Danielle Spence, Wealth Advisor, on how our team advises young people and professionals on important financial decisions like debt repayment. If you know a young investor who may benefit from our services, email Danielle at danielle@wealthstrategiespartners.com

*Read the article* 

Do you have a question you would like answered in an upcoming edition of our  “Ask and Advisor” series? Submit your question using the submission form below. 

**Submit A Question**

Danielle Spence in blue

BUZZING with Excitement for BarBees Bartending

Thank you to all who joined us in cheering on clients Jessica Blakley and Willow Sprague of BarBees Mobile Cocktail Classes as they made their pitch on Shark Tank ABC! Our team is incredibly proud of this female-owned, Nashville-based business. We can’t wait to watch their continued success! 

**Read More**

Ask an Advisor: Student Loans

R IS FOR ROMANCE RATES!

One of the hottest topics in the political landscape is student loan debt. While many have their monthly payments on autopilot, they often fail to search for opportunities to efficiently repay the debt.

We work with several Gen 2 and Gen 3 investors and are familiar with the myriad of financial challenges they face. Whether it be refinancing student loan debt, saving for a first-time home purchase, or allocating investments, our team is equipped with the knowledge and experience to guide this generation today to make the most efficient financial decisions for their future.

Please reach out if you know a young investor that could benefit from the services we offer.

Investing involves risk and you may incur a profit or a loss regardless of strategy selected. Past performance is no guarantee of future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

BarBees Bartending featured on Shark Tank!

We are thrilled to share some incredibly exciting news with you! Last year, we had the pleasure of hosting an incredible client event with BarBees Bartending, co-owned by Jessica Blakely & Willow Sprague, two remarkable individuals who are also valued clients of our Wealth Strategies Partners. 

BarBees was featured on ABC’s Shark Tank! Jess and Willow, the dynamic co-owners, pitched BarBees Mobile Cocktail Classes on Season 15 of Shark Tank and THEY CAUGHT A SHARK!!!

We are absolutely BUZZING with excitement for our clients! 

We are thrilled to be celebrating this exciting milestone with BarBees and witnessing this dynamic duo continue to soar to new heights. Help us in congratulating them by watching their Shark Tank episode and by booking your in-person or virtual class.

Here’s Our Market Outlook for 2024

Dear WSP Friends and Family,

What an end to 2023! Now what?

The stock market performance in November and December was like a beautiful gift from Santa left under our trees! However, 2024 has already seen the return of volatility, and we expect this volatility to continue. 

2024 is going to be a year in which we’ll navigate global conflict, geopolitical risk, inflation data, interest rate movements and an upcoming presidential election. All of these factors will lead to short-term volatility. 

As most of you know, I talk about Warren Buffett almost daily. What do you think he would do about these short-term stock market movements? If you said he wouldn’t do much, you are correct! He has never concerned himself with short-term stock market movements, which is why he is one of the most legendary investors of all time. At Wealth Strategies Partners, we are following Mr. Buffett’s ways and focusing on long-term planning, not short-term market movements.

Sincerely,
Paul C. Allen
CFP®, MS | President & CEO


Celebrating 10 Years of White Glove Client Service

It’s WSP’s 10th birthday! We wouldn’t be celebrating a decade of service if it wasn’t for our amazing clients, partners and friends. THANK YOU all for trusting us to keep your financial houses in order over the last 10 years. We are grateful for your partnership and support, and we can’t wait to see what the next decade holds!

Have you reviewed your beneficiaries this year?

As you organize and plan for a successful year ahead, it’s a great time to sit down with our team and review your beneficiaries on all documents and accounts, including trusts and life insurance policies.  Marriages, divorces, births, deaths and other major life events can all warrant changes.

This month, we challenge you to review your beneficiary designations to ensure assets are distributed according to your wishes.

Save time, minimize stress and avoid unnecessary conflict by regularly reviewing your beneficiaries. Contact us today and let our team help ensure your financial house is in order!


Ask an Advisor: I’ve changed jobs. Now what?

Have you recently changed jobs and aren’t sure what to do with retirement assets from your previous employer? You’re in luck, because Dalton Harris, Associate Advisor, is answering this question as part of our “Ask an Advisor” series.

Visit the link below to read the strategies Dalton recommends if you have savings in a former employer’s retirement plan. If you have questions about the best option for your situation, email Dalton at at dalton@wealthstrategiespartners.com.

WSP team member, Dalton Harris

Do you have a question you would like answered in an upcoming edition of our  “Ask and Advisor” series? Submit your question using the submission form below.


Keep these tips in mind when transferring wealth to the next generation

As baby boomers prepare to pass down their wealth amidst the “great wealth transfer,” it’s important they leave behind the legacy they intend. Many people work hard to grow their wealth, and it’s essential they take the same level of thought and care to steward their assets to the next generation and the causes they care about.

In a recent article published by The Tennessean, our president & CEO, Paul Allen, CFP®, MS, shares 5 actionable pieces of advice that will ensure a successful transfer of generational wealth.



Strong Teams Create Better Results

WSP Team Shares Expertise with Local Business Leaders

Paul Allen, CFP®, MS and Danielle Spence recently spoke at the New York/Nashville business alliance networking event at Richland Country Club about the opportunities and challenges facing businesses today as well as their expectations for the future of artificial intelligence. The New York/Nashville business alliance is a resource for companies who are part of the growing commercial link between New York City and Nashville.