Insights: Financial Planning

River Hill Magazine: First Steps to Establishing a Banking Relationship for Students

In the world we live in today there is a specific place to keep money where it is impervious, the bank. However, your money can be kept in different accounts at the bank for different purposes. Two of the primary ways that students under the age of 16 can accumulate money in the bank are […]

River Hill Magazine: An Economic Blueprint for College Savings – Part II – To help you plan effectively and be well-prepared!

The beginning of a new school year is a good time to think about planning ahead for the costs of college for your children. Five key variables to consider in your analysis are: time horizon, cost assumptions, available resources, account structure, and investment strategy. A previous article, published for the October 2014 issue of Living at […]

River Hill Magazine: The Personal Financial Plan – An Indispensable Tool for Enhancing Long-term Financial Well-Being

The development of a personal financial plan for yourself or family provides the framework for a flexible, dynamic plan of action offering the following benefits: 1. Keeps the focus on immediate, intermediate, and long-term financial goals. 2. Potentially cuts income taxes, improves cash flow, and reduces the cost of debt service. 3. Establishes a suitable […]

River Hill Magazine: An Economic Blueprint for College Savings – To help you plan effectively and be well-prepared!

The beginning of a new school year is a good time to think about planning ahead for the costs of college for your children. Five key variables to consider in your analysis are time horizon, cost assumptions, available resources, account structure, and investment strategy. This article addresses the first three of these variables. Time Horizon […]

River Hill Magazine: Lessons From A Homeless Shelter – Timeless Tips for Financial Self-Sufficiency

This item is based on a personal experience that actually took place in 1993 as my financial advisory practice was just getting started.  The lessons have clearly stood the test of time and are still relevant: After attending a seminar sponsored by a local nonprofit, career networking organization entitled Reengineering Your Finances for a Smooth Career Transition”, […]

Wall Street Journal: The Credit Card Shuffle

Free is good…free travel, hotel, cash and gift cards thanks to credit-card companies and a little nifty footwork… Christopher Parr contributed to this Wall Street Journal article by personal finance writer Brett Arends explaining some useful tips for maximizing credit card offers and some traps to avoid credit card hidden cost.  Parr’s unofficial title is […]

BBC: “Planning Ahead for Adoption”

Christopher P. Parr comments on adoption planning for the BBC.   On the amount of money adoption with take: “To be safe, add 20% to what you are being told the adoption will cost,”  said Parr.  To read the full article — “Planning Ahead for Adoption: Keep Costs, Time in Check” by Kate Ashford — Click Here     […]

BankRate – Smart Financial Moves for College Freshmen

Alyssa Parr, daughter of Christopher P. Parr who heads Parr Financial Solutions, a wealth management firm in Columbia, MD., discusses some of the big financial mistakes she made her first semester at California Polytechnic State University. “(In the) first quarter, I spent so much money, but I learned a lot,” says Parr.  Tamara Lytle, who wrote the Bankrate […]

Wall Street Journal – Adopting? Prepare to be Surprised

Christopher P. Parr was interviewed by Veronica Dagher, columnist for Wealth Management at WSJ.com, about the financial impact of adoption that prospective parents don’t realize until they start paying.  “Unexpected costs often crop up,” said Christopher Parr.  He recommended that “clients budget for costs to be at least 20% higher than they originally estimated.” “Those […]

Parr Provides Insight to Students at U of MD Business School Event

COLLEGE PARK, MD — Christopher P. Parr, president of Columbia-based Parr Financial Solutions, Inc., was invited by the Alpha Kappa Psi, Omega Theta chapter (University of Maryland College Park) to participate in a two-part “Getting Ahead” career event along with six other well-established, highly successful professionals and executives representing a variety of fields. The first […]