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Lewes, Delaware
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May 2, 2003     Cape Gazette
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May 2, 2003

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CAPE GAZETTE, Friday, May 2 - May 8, 2003 - 51 The road to retirement begins with financial planning By Andrew Keegan Three years ago investing was a relatively simple process: buy ' stock and watch the profits accu- mulate. That has all changed. In today's topsy-turvy economy, it is critical to receive sound, profes- sional advice, according to Thomas McGlone of Prudential Securities. "Regardless of your current salary, working with a financial adviser can yield important bene- fits like guidance, disciple, focus and peace of mind," said Mc- Glone. "Investing has become in- creasing complex and sound fi- nancial planning takes a great deal of time and energy." McGlone splits his time be- tween working in Baltimore, Md., and Rehoboth Beach and is look- ing forward to the day he can work solely from his Delaware residence. 'There's a great deal going on in the Rehoboth area," said McGlone. "Customers are looking for flexibility and prefer you come to them. With so many second homes down here, I can accommodate seasonal and per- manent residents. I prefer meet- ing clients where they live or work because it gives me a better appreciation of their personal situ- ation as well as offering them convenience." While many financial planners Submitted photo Sixteen people attended a financial planning and wine tasta[ng event at CAMP Rehoboth, April 26. Those in atten. dance sampled several wines from Bin 66, snacked on food from Beautiful Foods and asked questions about the stock market. A total of $800 was raised by Tom McGlone for the CAMP Rehoboth Building Project - Prudential matched his contribution 100 percent. Shown are Lorraine Meddiek and MeGlone. begin their careersright out of college, McGlone, who has an master's degree in business ad- ministration from George Wash- ington University in Washington, D.C., said his background gives him an advantage. "Having been a former corporate treasurer, I have a greater insight in working with small businesses and-entre- preneurs," be said. "What I see in Rehoboth are many businesses who have not heard of a new 401K available for the self-em- ployed. That shows me financial planners in this area are not keep- ing up with current changes." However, there's more to finan- cial planning than crunching num- bers. Financial planning is about helping clients achieve a fuller sense of economic well-being, said McGlone. "My mission is to provide a unique and creative ap- proach to a client's financial situa- tion," he said. "I always look to add value focusing on personal service and a client's big picture." It's that objectiveness that al- lows a financial planner to make sound decisions. "Many individ- uals are always worrying about taxes rather than their long-term goal," said McGione. "It's my job to help them see reality; they need that check." To illustrate his point, McGlone tells of a financial nightmare. "I had a client, who was 60 years old and sold his business for $10 mil- lion," he said. "He put all of it in the stock market, and it grew to $20 million. I talked with him and his family and convinced them to take three-fourths of the money and buy Maryland munici- pal bonds. That would have gen- erated a tax-free income of $750,000 yearly. He called me the next morning to say he changed his mind because he was making more money in the stock market. That $20 million plum- meted to $6 million. That's mon- ey he will never recover." The most significant aspect in selecting a financial planner is choosing someone whom you feel comfortable with, said McGlone. "I conduct an interview to see if my philosophy matches theirs," he said. "One of the biggest mis- conceptions out there is that all fi- nancial planners are out to take advantage of you. Like in any in- dustry, there are a few bad apples, so it's important for a prospective client to ask questions when going through the interview process. They should always how a plan- ner is compensated." It's never too early to begin fi- nancial planning, said McGlone. "If you are interested, in retiring, you should really begin planning after starting your first job," he said. "Who knows whether So- cial Security will even be around in 20 years." To arrange a financial planning interview, contact McGlone, toll- free, at 800.638-0626 or on his cell phone at 410-707-4517. Rehoboth annual spring sidewalk sale is in May The Rehoboth Beach-Dewey Beach Chamber of Commerce will sponsor its 20th annual spring sidewalk sale. The sale be- gins Friday, May 16, and runs through Sunday, May 18. The hours are from 10 a.m. to 9 p.m., although hours may vary at some stores. For more information, call the chamber at 227-2233, Ext. 12. : RF.HAX REALTY GROUP 227.4i00 1 1/2 BA is sl fuly furnbh So wel k al you boach lib has Is yo suncrunl 01. 210 Ann Ave., Ann Acres, Rehobolh Beach, $359,000 a must ml h0me 0tim a tTard. IMng in Lewes, parking putRin 306 Savannah Rd., Lewes $449,900 room motel wh onslmct. F.h microv, me,& ffidge. Highly Dewey Beach Motel $5,995,000 PUBLIC OPEN HOUSE Jo u Sxm,M  12.2g. Whm he ocem b your hodzm joy lazy beech days from is 4 8R, 48A br decorat- ed & recey reated oceanfront ho Sold lumlshed, serge dghl in, 1his is a vlewl 1 Bmch Ave., North Indtan Bmch $2,60,000. Homd by BUt Hhn. B.W Sped. lld your sunset drseml g  kOhllml Lot S3 Say Reach, Pine Bay, Rehoboth $380,000 Designed For Comfortl BR, 3 IQ BA home vdGR, FR, Immal DR, & Im mnde md 2  gae. 4 West Slde Dr., RBYCC ,000,000 wlextm lot Grand Waterfront Home 5+BR, 4BA imludin9 year o1 indoor spa com- ped wh g. h   m. SWremy serene  abound. De you boat off available. 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