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Patrick Villanova

Personal Finance Expert

Patrick Villanova is a writer for SmartAsset, covering a variety of personal finance topics, including retirement and investing. Before joining SmartAsset, Patrick worked as an editor at The Jersey Journal. His work has also appeared on and in The Star-Ledger. Patrick is a graduate of the University of New Hampshire, where he studied English and developed his love of writing. In his free time, he enjoys hiking, trying out new recipes in the kitchen and watching his beloved New York sports teams. A New Jersey native, he currently lives in Jersey City.

Posts by Patrick Villanova:

by Patrick Villanova Nov 01, 2021

Receiving an inheritance from a family member can create a large windfall of cash, and with it, new financial opportunities. What you do with the money will depend on the size of the inheritance, your financial situation and level of experience managing investments. But having a defined plan for the inheritance is vital. A frequently cited study conducted by The Williams Group of San Clemente, California, found that 70% of wealthy families lose their fortune by the second generation and 90% squander it by the third generation. A financial advisor can help you make the most of your inheritance by taking stock of your financial circumstances and creating a plan for the future. Read more

by Patrick Villanova Oct 29, 2021

Fixed-income securities play an important role within individual investment portfolios and the economy at large. But like other securities, fixed-income instruments come in a myriad of variations, from short-term Treasury bills that only pay interest when the bill matures, to long-term Treasury bonds, whose investors receive interest twice yearly. Below, we’ll specifically examine the similarities and differences between Treasury bills, Treasury bonds and other types of bonds. If you’re interested in investing in fixed-income securities, a financial advisor can help you build a balanced portfolio. Read more

by Patrick Villanova Nov 01, 2021

If you have $10 million, you are among the wealthiest people in the United States. The 2021 Wealth Report published by London-based real estate agency Knight Frank classifies the top 1% as Americans with a net worth of $4.4 million. With $10 million to invest, you’re certainly part of this exclusive group. But with that kind of money comes significant responsibilities and opportunities. Not only can $10 million fund a wonderful lifestyle, it can also provide financial security for future generations of your family and enable you to support the causes most important to you. Below, we’ll walk you through some options for how to invest your $10 million. With such a large sum of money, you’ll have the luxury of putting the funds in different assets. If you want additional advice, consider working with a financial advisor who can help with financial planning and asset management. Read more

by Patrick Villanova Nov 01, 2021

A financial planner is a type of financial advisor who can help you set and meet long-term goals like saving for your children’s college education, retiring by a certain age or planning out your… Read more

by Patrick Villanova Nov 01, 2021

If you think financial advisors are only in the business of managing money, think again. Many advisors also offer financial planning services and help you plan for retirement, save for a child’s… Read more

by Patrick Villanova Nov 01, 2021

While there may not be a more common or consequential financial question then “how much money do I need to retire?,” there isn’t a one-size-fits-all answer. One person’s retirement income needs will… Read more

by Patrick Villanova Jan 21, 2022

The gift tax is a federal levy on the transfer of money or property to another person when equal value is not received in return. While it may sound cumbersome, most Americans will never pay a cent… Read more

by Patrick Villanova Oct 29, 2021

A fiduciary is an individual or entity that acts on behalf of another person or group. Whether they are financial advisors, lawyers, trustees and more, fiduciaries assume a legal and ethical… Read more

by Patrick Villanova Nov 11, 2021

Long-term care is a wide-ranging and often-overlooked component of retirement planning. It runs the gamut from occasional help with cooking and cleaning to around-the-clock care provided in a nursing… Read more

by Patrick Villanova Oct 28, 2021

Historical returns and underlying investments aren’t the only metrics to consider when selecting mutual funds. A fund’s expense ratio, the internal operating costs paid by investors, is also an… Read more

by Patrick Villanova Oct 27, 2021

From doctors visits to business meetings, the COVID-19 pandemic has shifted so many of our everyday interactions from in person to online. One silver lining of this dramatic change has been increased… Read more

by Patrick Villanova Oct 26, 2021

The first year of homeownership can often be the most expensive, especially when paying a sizable down payment and taking closing costs into account. More times than not, the most affordable places… Read more

by Patrick Villanova Oct 21, 2021

Big changes to Social Security could be coming. A new proposal from U.S. Rep. John Larson (D-Conn.) calls for a benefit bump for current and new Social Security beneficiaries, an overhaul to how the… Read more

by Patrick Villanova Oct 20, 2021

There’s a new way to invest in the world’s largest cryptocurrency — kind of. ProShares launched its Bitcoin exchange-traded fund on Tuesday, the nation’s first ETF linked to the $1.1 trillion… Read more

by Patrick Villanova Oct 19, 2021

Value stocks may be the one asset class you must have in your portfolio for the next decade. After a decade-plus of underperformance and decline, value investing began to rebound in September 2020.… Read more

by Patrick Villanova Oct 21, 2021

Nearly 400,000 people moved for retirement in 2020, a study conducted by HigherAHelper found. While the study’s data showed that retirees are twice as likely to move to a new state than all other… Read more

by Patrick Villanova Oct 18, 2021

When you put 20% down on the purchase of a home, you don’t have to borrow as much money as someone whose down payment is only 5% or 10%. And as a result, your monthly mortgage payment may be… Read more

by Patrick Villanova Oct 13, 2021

As the COVID-19 pandemic upended daily life and caused nationwide shutdowns, more people participated in outdoor recreation in 2020 than ever before. More than 50% of Americans ages 6 and older… Read more

by Patrick Villanova Oct 12, 2021

Has Washington State found the solution to the difficulty retirees face in covering their long-term care costs? Starting Jan. 1, 2022, most employees in the state will begin paying a mandatory… Read more

by Patrick Villanova Oct 12, 2021

Investors holding cash and waiting for interest rates to rise before buying bonds may be making a significant mistake. With the Federal Reserve poised to keep interest rates near zero for at least… Read more

by Patrick Villanova Oct 07, 2021

While inflation continues to linger, the price of food is among the few commodities that hasn’t skyrocketed in the last year. According to the Consumer Price Index for All Urban Consumers, which… Read more

by Patrick Villanova Oct 05, 2021

American members of the armed forces are set to battle a sneaky new enemy: rising healthcare costs. Health insurance premiums and prescription drug copays are set to jump for some members of the U.S.… Read more

by Patrick Villanova Oct 04, 2021

Whether you’ve inherited stock, received equity in your company or simply own only a few holdings, a highly-concentrated portfolios may cause you to miss out on significant wealth by not diversifying… Read more

by Patrick Villanova Oct 14, 2021

Estate planning has become less of a priority for middle-aged adults, a new survey indicates. Americans between 35 and 54 years old are for the first time less likely to have a will than people ages… Read more

by Patrick Villanova Sep 30, 2021

If you own a home, chances are your net worth has shot up in the last year. Skyrocketing  home prices caused by a pandemic-fueled real estate frenzy have led to a scenario where homeowners in the U.S… Read more