Firm:
Lake Road Advisors
Job Title:
Founder
Biography:
Paul Sydlansky is the founder of Lake Road Advisors, a firm dedicated to helping people take the confusion and anxiety out of financial planning. Lake Road Advisors take a different approach to advising. Paul and his team get to know their clients and learn about their needs first. Paul knows that Financial Planning is a process that brings together all the different aspects of a clients' financial life to meet their goals. It's more than just investing in a few stocks or mutual funds or buying an insurance policy. Paul believes Financial Planning makes sure investments, insurance, taxes, and estate plan are aligned to meet all client goals.
Paul's very first finance class sparked his interest in the market. During college, he interned at a small brokerage firm in his hometown and fell in love with the speed, competition, and excitement of the industry. He earned a BA in Economics from Marist College before launching his career on Wall Street. Paul spent 13 years working with Morgan Stanley, first in the Private Wealth Management Division and then the Institutional Equities Division, working with some of the world’s largest and most successful hedge funds. He also earned his MBA from New York University while growing his career.
Then in 2009, Paul became the father of twins. Suddenly, the long commute, even longer hours, and lack of flexibility didn’t seem worth the pay. By the time his third child arrived in 2011, the aggressive Wall Street lifestyle had lost all appeal. Paul wanted to be successful in his career, but he was not willing to sacrifice his family life. So in 2012, Paul and his wife put family first and moved to upstate New York for a better quality of life.
Paul founded Lake Road Advisors because he believes there is a less complicated, transparent method to provide financial planning services. He became a Certified Financial Planner to help families and small business owners create clear paths to achieve their goals. His time on Wall Street gave him a unique perspective into the financial system and the industry as a whole. He knew that there was a more effective and efficient way to help people navigate the confusing financial landscape.
Education:
MBA, New York University - Stern School of Business
BA, Economics, Marist College
Fee Structure:
Fee Only
CRD Number:
3226165
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Investopedia Interview with Paul Sydlansky
Markets will always go up and down and no one knows when for sure. When investing, you need to look at your own personal situation, why you are investing, and how much risk you can handle. These factors should always come before market conditions because trying to predict and time market movements is a losing strategy.
The first question to ask yourself is this...has your life changed or have your goals changed because Donald Trump will be President? I would highly recommend that you invest based upon your values and goals and where you want to be, and too not be swayed by market/political changes. Ultimately, no one knows if President-Elect Trump will be good or bad for the economy and your portfolio. Any attempt to structure investments around this is just a guess and not one worth taking in my opinion. See here for more color https://www.lakeroadadvisors.com/new-blog/2016/11/1/nervous-about-the-election-and-your-investments
It depends on many factors.... a) What is your personal risk tolerance (can you handle the market going up and down) and what do you deem as safe? Generally cash is the safest investment with bonds being more risky, and then stocks. b) What types of mutual funds are you in (equity/fixed income)? c) What do your monthly expenses look like? Is the current $3,400 enough for you to live off of? How long does this money need to last? I would suggest you speak to an advisor if the answers to these questions aren't clear and don't help you figure out your next step.
Before you invest in gold, I would ask yourself why you are investing in gold. Is it for an outsized return? Is it to add diversification to your portfolio? Make sure you are comfortable and fully understand that gold is a commodity and not a traditional investment. It's appreciation is based on market speculation. It does not pay any dividends or income. Returns can be extremely volatile.
If you still want to invest in gold, I would suggest buying a gold tracking ETF.
$1,000 is probably not enough cash to start short selling at most brokerage firms.
My strong advice to you would be to NOT to start short selling. When selling short, unlike buying long, you have unlimited exposure and can lose way more than you put in. If you think the market is going to correct and you want to try and time it (which is also a bad idea), I would just stay away.