Michael Kabarec

United States

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Biography

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Michael Kabarec is a wealth management expert and financial advisor.

Michael Kabarec is current president of Kabarec Financial Advisors, LTD. This Chicago-based firm was founded in 1982 and provides financial advising and asset management to nearly two hundred clients. Clients seek Michael Kabarec’s help with investments, taxes, and wealth management. However, he is also committed to educating his clients, and others. In doing so, he hopes to increase their knowledge when it comes to finances.

“Financial literacy is a subject that is often ignored, but is critical to modern Americans making the most out of their earnings and keeping them secure,” Kabarec has said.

With over three decades of experience in the field, he has continued to hone his skills and keep abreast of new developments in the industry. Because he offers such services as investment management, wealth-building techniques and services, small business development, retirement plans, and tax management, he works to keep his knowledge comprehensive and up to date. Michael Kabarec also strives to ensure his clients maintain a thorough understanding of his services, because he believes a client should always be savvy about their money.

As an investment and financial advisor, Michael Kabarec encourages all individuals to keep an open mind when it comes to investments. He often tells his clients to invest in assets that have the potential to gain value over a period of time, but could also provide financial security in case of an emergency or if funds are needed quickly. Such investments include watches, stamps, and pictures. While the watch has modernized with digital technology, many collectors still place a high value on the conventional wristwatch. Rare watches can run into the millions. Kabarec suggests buying a watch from a respected brand name in a rare design with correct paperwork and in optimum condition.

Art collectors have always supported the value of sculptures or paintings. Pictures can provide a substantial return, through either historic significance or painter reputation. Photographs also hold the potential to be worth a decent amount of money.

Stamp collectors are a few steps ahead of the game. Stamps continue to be valuable, despite the advancements in technology and email. The most valuable stamps tend to be rare, coming from certain periods in history, or stamps with printing errors or other anomalies.

As a knowledgeable financial advisor, Michael Kabarec acknowledges that planning for retirement is one of the biggest and most exciting things to happen in a person’s life. However, according to various research, women tend to plan less comprehensively for retirement than men. Married or not, a woman should still take proactive steps to plan for retirement. Furthermore, Kabarec points out that two individuals funding a retirement account is always better than one, providing more of a cushion in the event of an emergency.

Michael Kabarec believes each and every woman should have a personal retirement account. While some women assume their male partners will handle the maintenance of their joint retirement accounts, it’s still important for these women to have their own accounts. Having a personal retirement account will guarantee another level of comfort and dependability. In the event that you suddenly need funds for family emergencies or personal reasons, you can rely on your own account to provide the necessary funds. Kabarec also stresses the importance of beginning a retirement account in the younger ages of life, as it’s never too soon to start such an account. Even if the amount initially going into the account is relatively small, it’s still better than nothing.

Kabarec also urges his clients to think about where these funds will go. While there are many different reasons to make excuses and avoid putting money into a retirement fund instead of elsewhere, it’s important to make sure money is going to the right places. In fact, women tend to put money towards their children’s financial needs, such as college or school trips, before putting it into their own retirement funds. While this is a noble decision, it’s vital for both the woman and her family to put aside a decent amount in a retirement fund.

As retirement is an important aspect of his career, Michael Kabarec cannot stress how important retirement planning is in each and every individual’s life. There are many different financial aspects to take into consideration when planning for retirement. However, there are several mistakes continually being made by individuals that Kabarec witnesses firsthand. Such mistakes include electing to decline any employer-sponsored retirement plans, investing too much into company stock, and using only resources available through employers. Several companies offer more than a simple paycheck. In fact, some of these companies offer plans such as 401K, 403B, or 457. These are all ways to encourage and allow the employee easy retirement planning. It’s important to take advantage of these opportunities, Kabarec urges, because declining can turn into a lifetime of bad habits and short-sighted decision-making when it comes to your retirement account.

While investing in company stock can prove to be beneficial, it can be risky to put more than 10% of your retirement account into a company stock. With the economy at an all-time low, there is no guarantee when it comes to these stocks. Michael Kabarec believes employees should keep a majority their paycheck, because it’s often not worth the risk of losing funds for your retirement with risky stocks.
Though it is significant to make use of any retirement plans your employer offers, make sure this isn’t the only place you are contributing funds. There are several different ways to add to your retirement fund, such as mutual funds, savings accounts, and investments. Because all the different options and their potential returns can be overwhelming, Kabarec offers his insight and experience. Applying his thorough knowledge to each individual client, he is able to determine what type of plan or account is best suited for him or her.

By consulting a financial advisor such as Michael Kabarec, you will be able to make smarter decisions regarding your retirement and potential investments. Kabarec is also able to help guide the development of small business plans and prepare/manage taxes. With his undivided attention and comprehension, he has the tools necessary to ensure his clients are well prepared financially in all aspects of their lives.

Michael Kabarec plans to continue his work in financial advising and investment services. As opposed to other financial advisors, Kabarec is not looking to simply add to his portfolio. He always aims to provide guidance and aid in terms of how a client can invest strongly and intelligently. There will always be individuals who need some financial leadership, especially in more complicated areas such as investment or smart retirement planning, and Kabarec is committed to giving them the best advice, as well as teach important financial concepts and procedures.