New York State Deferred Compensation Plan: Taking a Loan

This week’s Mullooly Asset Management podcast focuses on the New York State Deferred Compensation plan. Tom Mullooly manages investments for over 300 different individuals who are participants in the New York State Deferred Compensation program, and he knows what some of the most frequent questions about the plan are.

Many people are looking to take loans from their New York State Deferred Compensation plan, and taking that action has many implications. Tom goes over the pro’s and the con’s of taking a loan from your New York State Deferred Compensation program in this week’s podcast so tune in. If you have any specific questions about your NYSDCP after listening to the podcast feel free to contact Tom.

If you are thinking about taking a loan from your New York State Deferred Compensation plan you should listen to this podcast first!

Now, if you are relying on a blog post for specific investment advice, you are making a huge mistake. Please speak with an investment adviser before making ANY investment decisions.
If you do not have an investment adviser, we encourage you to contact Mullooly Asset Management at 732-223-9000, or through our website. Under no circumstances should the content discussed here be considered specific investment advice.

Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment or investment strategy will be profitable or equal to past performance levels.

All investment strategies have the potential for profit or loss. Changes in investment strategies, contributions, or withdrawals may materially alter the performance of your portfolio. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for an investor’s portfolio.

You can download this week’s podcast about taking a loan from your New York State Deferred Compensation program on iTunes for free.

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About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc.

An investment industry veteran of over thirty years, Tom started his career in 1983 at EF Hutton. During his time as a retail stockbroker, Tom also became a manager. By listening closely to clients and his peers, Tom found first-hand how many individual investors – along with their brokers -- had no game plan for managing the risk in their investments. With that in mind, in 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm.

As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients. No pie-in-the-sky forecasts or predictions of the future. A simple game plan to manage what to do if something goes wrong, and what to do when things go right. All of Tom’s financial planning sessions with clients start with a conversation and a simple yellow pad.

Tom hails from Long Island and is a proud graduate of Chaminade High School. Tom achieved his BS at CW Post in 1983 (in three years), and received his MBA from CW Post in 1987.

Outside the office, Tom has served as President of North Wall Little League, and served on the New Jersey District 11 Little League board. Tom is a board member of Family Options, an Adoption agency in Monmouth County. Tom is a daily communicant at St. Rose Church in Belmar and also serves as Sacristan, Lector and Eucharistic Minister and serves on the St. Rose Finance Committee.