Recent News

Did you miss the Saratogian’s Live Chat yesterday with Andy Guzzetti? An archive of the chat can be found on the Saratogian’s website here. Yesterday’s Live Chat between Managing Director of DLG Wealth Management, Andy Guzzetti, and Saratogian readers was a discussion on rising gas prices, who is behind the rise and why. View the questions and answers of the Live Chat whenever you like. Didn’t get to ask your question? Feel free to email Andy Guzzetti at aguzzetti@dlgwm.com or visit the wealth management firm’s website for more information.

The Mega Millions for the March 30th drawing set records. As ticket prices soar the remaining hours before the drawing, Fox 23 reports what to do if you have the winning ticket. Featured on Thursday’s 5pm news segment, Andy Guzzetti from DLG Wealth Management in Albany, discusses an important element a Mega Millions winner needs to have: a financial advisor.

Whether you set up trusts, decide to gift or invest, a team of financial advisors behind you can ward off anyone who may be after your money. "You need a buffer. There are people that can come up and have the greatest ideas in the world to invest and if you aren't experienced you can just say 'my team makes those decisions, I'll get back to you’", says Andy. To watch the full report, visit Fox 23 News here.

For more information on portfolio management or for any of your financial planning questions, feel free to email Andy at aguzzetti@dlgwm.com or visit www.dlgwealthmanagement.com.

Are you deciding whether to open a Roth IRA or Traditional IRA? Both forms of IRA are great ways to save for retirement. Find out more about IRA's, the benefits and financial planning from financial advisor, Andy Guzzetti, from DLG Wealth Management:



Every Monday morning at 7:45 a.m., don't miss the "Money Monday" segments on WXXA Fox 23 News Albany. Managing Director of DLG Wealth Management, Andy Guzzetti, gives tips on how to manage your money and protect your finances. Miss a segment? Get all the information you'll need about wealth management on DLG Wealth Management's News page.

Gas prices have broken the $4.00 per gallon mark in the Capital Region – but why? Managing Director from DLG Wealth Management, Andy Guzzetti, explained during a Money Monday segment on WXXA Fox News, the reason why we can’t catch a break at the pump.

The rising price of gas is a constant issue and the reason is very complex. The price of gasoline is 80% oil. So where does the price of oil come from?

• NYMEX (New York Mercantile Exchange) is a futures market and this is where risk is transferred to speculators from farmers, oil riggers, etc.

Last Friday, the price per barrel of oil closed at $106.71 cents per barrel. That’s an April contract. The oil contract is 1,000 barrels, which at today’s price costs $106,710.  The price of gas on average is around $3.74. In September 2011 alone, the price of gas rose 41%. When President Obama took over the White House in 2009, gas was at an average of $1.79. Gas prices have been steadily rising for the past 3 years.

So, why are the speculators saying that they think oil is going up?

• They take into consideration the conflict between Israel and Iran and how that will affect the world oil supply
• Another factor is President Obama’s policies. The current administration is concerned more with reducing the demand for oil rather than increasing the supply. This suggests to speculators that the U.S. policy is to have higher oil prices and needs to reduce the U.S. current consumption - which is 20 percent of World oil. On the supply side, if this administration were to say Yes to open up offshore drilling, to utilize the keystone pipeline and drill in Alaska, then the price of gas would likely decrease 50 percent in a matter of weeks.

It all comes down to supply and demand. The price of oil not only moves with the actual increase and decrease of supply and demand, but also in the anticipation of. If speculators believe the U.S. has a policy to increase supply, oil prices go down.

For more information on managing your finances or other financial advice, visit DLG Wealth Management. You can also see Andy Guzzetti every Monday morning on WXXA Fox – Albany.

DLG Wealth Management financial advisors offering consultations

Financial Planners from DLG Wealth Management, an Investment Advisory Firm, are offering a complimentary consultation and lunch for prospective investors. Consultations offered by Certified Financial Planner®, Manuel Choy, and Financial Advisor, Tonia Kelley. Advisors will offer lunch at Angelo’s Prime Bar & Grille in The Hilton Garden Inn at 30 Clifton Country Rd., Clifton Park, NY.

Manuel Choy is a Certified Financial Planner®, with MBA at DLG Wealth Management. Choy manages client portfolios, customizing each client’s portfolio based upon their goals, objectives and the risks associated with current market conditions. To discuss current or future investments, he can be reached at 518-348-0060 Ext. 258.

Tonia Kelley is a Certified Divorce Financial Analyst and Financial Advisor at DLG Wealth Management. Kelley helps her clients plan for a financially equitable divorce settlement. She provides clients with advice and information on financial issues related to divorce such as; tax consequences, selling the marital home, pension and 401K plans and forecasting settlement options. To schedule a consultation, she can be reach at 348-0060 Ext. 262.

DLG Wealth Management's Andy Guzzetti shares the advice every college grad needs to know

The cost of higher education is expensive. College loan debt in the U.S. is reaching new heights, leaving young graduates, co-signers (parents and grandparents) or mature adults enhancing their education, to face the hefty price tag.

Here are the Facts:

•    Student loan debt is around $867 billion nationwide.
•    Student loan debt, in 2011, surpassed the nation’s credit card debt
•    The average student loan debt is approximately $25,000 per college graduate

With the economy struggling and unemployment at 9 percent, it is very tough for new, job seeking graduates to achieve jobs earning an income necessary to pay off these loans.

Another area which has been negatively affected by this high Student Loan Debt is the Housing Market.  In 2011, the 25-34 year age group bought just 27 percent of the houses, a new low in the past ten years. This has a widespread ripple effect on the entire Housing Market. These ‘Would Be’ First Time Home Buyers are already in debt which affects their ability to purchase homes put on the market by previous First Time Buyers looking to upgrade.

How can you manage your debt?

As with All Loan situations, always prepare ahead and think before you borrow. Some money-saving options to look at:

•    Get an Associate’s degree at a local community college and commute to
     save money
•    If you want a 4 year degree, go to Community college for two years then a public
     or private 4 year college to earn your Bachelor’s degree
•    Apply for Grants and Scholarships
•    Go to school part time and work part time

For college graduates, who already have the burden of student loans, make sure you have a budget in place and live within your budget. Research programs that may help eliminate some of your student loan debt, for example teaching in inner city schools.

Do not default on student loan payments or any type of credit. The best way to handle the situation if you are not going to be able to make a payment is to contact the loan administrator and make arrangements. Personal appointments are better than a phone call. Be proactive, before you get a call or letter concerning missing payments.

For more information on College Savings Plans, speak with a financial advisor at DLG Wealth Management today or call 518-348-0060.