Latest news with #Stroup
Yahoo
29-05-2025
- Business
- Yahoo
Horizon Organic Dairy Names Patricia Stroup as Chief Operating Officer
New executive leader joins the Horizon Organic Dairy leadership team bringing more than 20 years of experience in the food and beverage industry and a passion for premium dairy BROOMFIELD, Colo., May 29, 2025 /PRNewswire/ -- Horizon Organic, a pioneer in organic dairy and the largest USDA-certified organic milk and dairy brand in the world,1 and Wallaby, a leading brand of creamy Australian-style yogurts and organic Greek yogurts, are pleased to announce Patricia Stroup has joined the team as chief operating officer (COO). Stroup has a lifelong connection to dairy, and an extensive background in global leadership within the food and beverage industry. She brings a broad range of capabilities to the COO role, including operational expertise, industry insight and a people-first leadership mentality. In her role as COO, Stroup will oversee day-to-day business operations, partnering closely with teams to strengthen supply chains, optimize performance, and continue delivering the products consumers love. Her focus will be on driving operational excellence, leading strategic network optimization, improving cross-functional engagement, and providing team members with professional development and growth opportunities. "We're thrilled to welcome Patricia to the team. Her vast experience will lend itself to improving our brands, accelerating our progress, expanding high-impact teams and strengthening our culture," said Tyler Holm, CEO of Horizon Organic. "We're building the tomorrow we want to see for all who are impacted by our work, from our team, to our farmers, business partners and the families who choose to put our products in their fridges and on their tables. Patricia is the right COO to help us achieve our goals now and in the future." Prior to joining Horizon Organic, Stroup worked in numerous dairy categories, including milk, cheese, butter and milk powders at leading organizations like Hilmar Cheese Company and Maryland & Virginia Milk Producers Cooperative Association. She also spent more than 18 years at Nestle, most recently serving as the global senior vice president and chief procurement officer out of Switzerland. Stroup previously served as the former chair of the International Dairy Foods Association (IDFA) board of directors, and is actively pursuing a doctorate in organizational leadership from the University of San Diego. She also studied dairy science at Virginia Tech. "I am passionate about the dairy industry and am honored to join the Horizon Organic team," shared Stroup. "My roots in dairy are deep as I grew up on a dairy farm in Pennsylvania and ran a dairy farm of my own for nearly 10 years. I believe our future success starts with our commitments to dairy farmers and will provide the strong foundation upon which we build both Horizon Organic and Wallaby. I'm excited to serve as COO on this amazing team as we strive to serve even more families across the country with high-quality products," said Stroup. Horizon Organic's experienced leadership team, now including Stroup, brings a depth of unmatched knowledge in strategic business operations, particularly in premium organic dairy. About Horizon OrganicTwo generations of families—and counting—have grown up on Horizon Organic® milk. From the start, as the leading organic milk producer in the U.S., Horizon has been committed to delivering innovative, nourishing dairy that growing families can rely on. As a certified B Corp, Horizon works with more than 500 farmers across the U.S. to bring high-quality, certified organic milk to consumers. For more information on Horizon's full portfolio of organic dairy products, visit About WallabyWallaby is a premium yogurt brand that has been producing great tasting organic yogurt for over 20 years. Wallaby was born out of a trip to Australia by its founders, where they chanced across a deliciously distinctive yogurt. Convinced that Americans would love Australian-style yogurt as much as they did, they set off on a mission with one simple goal: to produce the best tasting yogurt in America. That's why Wallaby yogurt is always slow-crafted with organic milk and premium organic ingredients to create something deliciously different. To learn more about Wallaby Organic, please visit 1 Source: Circana OmniMarket Core Outlets, 52 Weeks Ending Feb 25, 2024 MEDIA CONTACTEmily RadoSchroderHaus954-592-2003emily@ View original content to download multimedia: SOURCE Horizon Organic
Business Insider
24-05-2025
- Business
- Business Insider
The very first thing to do if you want to spend less, according to financial planners
Even if you know you need to spend less, it can be hard to know where to start. Learning how to budget can be overwhelming without guidance, and not going in with a strong plan can lead to frustration and difficulty sticking to your goals. Business Insider asked CFP® professionals what their first response would be if their clients asked them how to spend less. Their responses fell into three major groups, all focused on understanding how you can make your budget work for your savings goals. Understand your motivation to spend less When asked the first thing they'd say if a client wanted to know how to cut spending, multiple financial planners said they would first want to dive into the client's motivations. Understanding your motivations will not only keep you dedicated to spending less, but it will also help you determine what cost-cutting steps you should take going forward. "I think understanding the why is really important, right?" says Christopher Stroup, CFP® professional, founder and financial advisor at Silicon Beach Financial. Stroup says the cause could be credit card debt, a dwindling bank balance, or just wanting to be more proactive about saving. "Ask what's behind their reason for that, so we can better understand what to do next." Once you have a firm grasp of why you want to save, you can start diving into your current spending habits. See if your current spending matches your priorities Before you can start cutting down on expenses, you need to know what expenses there are to cut. "The first thing I tell them is to understand what they're spending now; to really get clear on, OK, what are you currently doing? Let's make a list," says Angela Moore, CFP® professional, financial guide at Fruitful. She says that doing this can help you spot easy places you can save, whether by cutting subscriptions you aren't using or negotiating bills down. Valerie Rivera, CFP® professional, founder of First Gen Wealth, says it's important to review your spending and make sure it's aligned with your priorities. "So I ask them, do you feel like, now that you've reviewed your spending, that your money is going to where you prioritize? And a lot of times, what I hear is, 'Oh my goodness, no, I had no idea that I was spending this much on takeout.'" If you're struggling to know where to start on sorting your spending, a budgeting app can help. Apps like Rocket Money, Monarch Money, or the YNAB App can auto-sort your expenses and categorize them for you. You'll probably have to go through and manually sort your expenses afterward, but budgeting apps give you a place to start if you're overwhelmed. Apps like Rocket Money even offer concierge services, which will do things like cancel subscriptions or negotiate bills for you. These services come with fees, so you'll have to decide whether those fees are worth the money you'll save. You'll also want to consider whether you're willing to pay money for a budgeting app, or if you'll want to use a free one. Free budgeting apps are hard to find, but many apps, including the YNAB App and Monarch Money, offer free trials. If you just need help getting started, you could start a free trial with one of these apps and copy the information into a Microsoft Excel sheet before the trial is done. Choose one or two areas to focus on cutting spending in your budget Once you know what you're spending on, you'll need to actually start cutting spending. Adrianna Adams, CFP® professional, head of financial planning at Domain Money, says that once you know what you're spending on, it's time to choose one or two places to cut spending. "The very first thing is you have to do a deep dive of where your money is going, because you need to pick one or two things to focus on," says Adams. "When clients just try to pare back everything, it's very hard to really make any habitual changes," she adds. Choosing budgeting areas to concentrate your energy on also lets you keep discretionary expenses that are meaningful to you while cutting spending in areas that aren't as important.
CBS News
15-05-2025
- Business
- CBS News
4 home equity borrowing rules to follow this May, according to experts
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Borrowing from your home equity should always be done strategically, even in today's cooler interest rate today's high-interest rate environment, borrowing remains an expensive option, especially with credit cards and unsecured loans. Lingering inflation continues to underpin high interest rates and the Federal Reserve's most recent decision to pause its benchmark rate to curb consumer spending. While inflation has cooled from its peak, the latest Consumer Price Index data shows prices are still rising at an annual rate of 2.3% as of April 2025, short of the Fed's 2% target rate. Still, if you've built up significant equity in your home, you have two lower-interest borrowing tools worth exploring: home equity loans and home equity lines of credit (HELOCs). Both typically come with lower interest rates than unsecured loans and credit cards, and you can use the funds for virtually any purpose. However, borrowing against your home isn't something to rush into. You'll want a well-thought-out plan to get the best results. Below, we'll detail some proven rules to follow this May if you plan to tap into your home equity. Start by seeing what home equity borrowing rates you'd be eligible for here. 4 home equity borrowing rules to follow this May Here are four important rules to remember if you're embarking on your home equity borrowing journey this month: Shop and compare rates and terms Interest rates on home equity products can vary widely from lender to lender, so it's a good idea to get quotes from several financial institutions, including traditional banks, credit unions and online lenders. Pay special attention to a loan's annual percentage rate (APR), which accounts for fees and the interest rate. That will give you a more accurate estimate of the true cost of borrowing. "Look beyond just the interest rate," says Christopher Stroup, certified financial planner and founder of Silicon Beach Financial in Santa Monica, California. "Compare APRs, repayment terms, draw periods (for HELOCs) and whether the rate is fixed or variable. Ask about rate caps and introductory 'teaser' rates." Stroup also recommends requesting detailed loan estimates and calculating total repayment costs to get the full picture. Shop for HELOCs and home equity loans online today. Understand the fees Be on the lookout for fees that can drive up the cost of a home equity loan or HELOC. Depending on the lender and loan type, you could face costs like origination fees, appraisal fees or prepayment penalties. However, many lenders reduce or waive fees in certain situations. "In many cases, these fees are waived on HELOCs and some short-term home equity loans, typically if the loan is using a primary address as collateral," says Cami Anderson, mortgage lending manager at Wasatch Peaks Credit Union. "If you are using your primary home as collateral, you can often find no-fee or very low-fee options," she says. Choose the right term Home equity loans usually have repayment terms between five and 30 years. For HELOCs, the term is typically 10 to 30 years, split into a 10-year draw period and a 10- to 20-year repayment period. Choosing a shorter term may save you money in interest but it'll raise your monthly payments, while a longer term could make monthly payments cheaper but cost more in interest over time. Anderson says she advises borrowers to choose a slightly longer repayment term when rates are similar, there's no early repayment penalty, the lender allows extra principal payments and the borrower has a higher debt-to-income ratio. "A longer term generally means you have more money in your pocket monthly to use for everyday expenses and emergencies. This means you're not 'locked' into a higher payment and a shorter term, but you can often make extra payments or pay off the loan earlier," she says. Know when to borrow One of the biggest questions homeowners are asking right now is whether to borrow now or wait for rates to drop. But trying to figure out which way interest rates will go is difficult for even the most seasoned economists and rate-watchers. "Trying to outguess the Fed is like trying to outguess the market—occasionally right, rarely repeatable," says Mark Stancato, founder and lead advisor at VIP Wealth Advisors. Instead, focus on what you plan on using the funds for to guide your decision. "If the need is real—think home improvements, consolidating high-interest debt, or bridging a cash flow gap—borrowing now might make sense," says Stancato. He adds that you should pause if there's no clear need for the funds, since a loan should fund something with lasting value, not a short-term want. The bottom line You might consider tapping into your home's equity to fund a home renovation, college tuition or just about any other goal. If used in the right ways, this low-interest alternative to credit cards and personal loans may help you improve your financial health. You may even be able to deduct the interest charges if you use the funds for eligible purposes. For optimal results, follow the above rules and make sure your loan aligns with your overall financial plan, both this May and in the months and years to come.
Yahoo
08-05-2025
- Business
- Yahoo
I'm a Financial Advisor: This Is the Worst Possible Way To Pay For Groceries
Buy now, pay later (BNPL) broke onto the scene as a payment method in the past few years with the premise that it's superior to credit cards because it promises not to charge interest, and can break larger sums into smaller, more manageable payments. Find Out: Read Next: It's become a popular form of payment, as evidenced by a Lending Tree survey that found that 25% of respondents are buying their groceries this way (up from 14% in 2024). Christopher Stroup, CFP and owner of Silicon Beach Financial, warned that BNPL may seem like a better deal, but it actually isn't. BNPL turns recurring expenses into future debt, Stroup warned. 'When you're financing perishable goods, you're committing income you haven't yet earned to purchases you've already consumed.' This leaves you vulnerable to overdrafts, missed payments and a cycle of dependence on short-term credit. Check Out: BNPL can also encourage overspending 'by minimizing the psychological pain of paying,' Stroup said. It may feel like a 'free solution,' but late fees, overdraft charges and the risk of stacking debt across platforms can quietly destabilize your finances, especially when used for nondiscretionary items like groceries. Another problem is that frequent BNPL use 'can fragment your budget and obscure your true cash flow,' Stroup said. Many services don't report on-time payments but will report missed ones, which hurts your credit. Over time, this erodes your ability to plan, save and invest with intention. While 'zero percent' is tempting, Stroup said it doesn't mean zero risk. 'You're still creating debt. Miss one payment and you may face fees or credit damage.' Plus, relying on BNPL for essentials is likely a sign of a deeper cash flow problem that needs solving, not financing. Before leaping onto a BNPL solution, Stroup urged consumers to start with a clear budget that prioritizes essentials. Use things like cash-back debit cards or high-yield checking accounts for everyday spending. Explore local food co-ops or assistance programs. 'If cash flow is consistently tight, revisit fixed expenses or negotiate recurring bills before reaching for credit,' he said. Support yourself with budgeting, shopping or spending tools like YNAB, Goodbudget or Rocket Money to help track spending and set grocery limits, he said. Also look into community-supported agriculture (CSA) boxes, local food banks and double-up food buck programs to stretch your dollar without relying on credit. Start by redefining what 'relief' really means, Stroup said. Temporary fixes like BNPL only delay discomfort. 'Real relief comes from clarity: knowing where your money's going, building margin into your month, and making intentional trade-offs that support your future self.' More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying How Far $750K Plus Social Security Goes in Retirement in Every US Region 4 Things You Should Do if You Want To Retire Early 12 SUVs With the Most Reliable Engines Sources Matt Schulz, 'BNPL Tracker: 41% of Users Late in Past Year, More Using Loans for Groceries' (Lending Tree) Christopher Stroup, Silicon Beach Financial This article originally appeared on I'm a Financial Advisor: This Is the Worst Possible Way To Pay For Groceries
Yahoo
27-04-2025
- Business
- Yahoo
Why You Should Reconsider This Golden Rule of Retirement, According to Financial Advisors
If you've met with a financial planner or sought retirement advice online, you've likely heard of the 4% rule, a guideline used by retirees to help plan how much they can safely spend in retirement without depleting their savings too quickly. Trending Now: For You: The gist is that ideally you would spend 4% of your retirement portfolio each year in retirement, adjusted for inflation. For example, if you retired with $1 million in savings, you'd withdraw $40,000 the first year and a bit more each successive year, based on the inflation rate. 'It's based on historical market performance, assuming a mix of stocks and bonds, and it is designed to provide steady income while preserving the principal,' said Christopher L. Stroup, a certified financial planner (CFP) and founder of Silicon Beach Financial. However, is this really the best way to approach your retirement? Stroup and other experts offered some thoughts. The 4% rule assumes a one-size-fits-all approach, but everyone's retirement needs are different, Stroup said. 'Factors like healthcare costs, life expectancy and individual spending habits can vary greatly from person to person. A more customized retirement plan that adjusts withdrawals based on changing circumstances (like market performance, emergency expenses or a shift in lifestyle) might be a more effective and sustainable strategy for some retirees,' he explained. Check Out: Simply put, the reason why the 4% rule might not work for everyone, according to Christine D. Moriarty, CFP with Money Peace, is that 'life is not linear.' Moriarty added, 'People tend to spend more in the first year of retirement. Or they may delay retirement withdrawals and work part time. Or they may take more and delay taking Social Security.' Be Aware: In other words, the '4% rule' leaves retirees at the whims of the stock market, which Moriarty said is 'never a good idea' and 'aging requires us to slow down.' Additionally, she said that in retirement people may sell a house, bringing in more liquid cash to spend according to the 4% rule. 'This defies logic as we may need more money if we need care,' she said. Instead, each retiree should consider their needs, make a plan and stick to it, with an annual review to see what needs changing. 'And keep your investments diverse but more conservative each year,' she added. Jeff Mains, founder of Champion Leadership Group, feels that the 4% rule's simplicity can sometimes be its limitation. 'The rule works as a general guide, but I think its simplicity often overlooks personal variables like market volatility, spending patterns and individual life expectancy.' He described the 4% rule as being 'like using a map from 1994 to navigate today's financial terrain — it's helpful, but not always accurate.' This is partly because it was created during a time when market returns and bond yields were significantly higher. 'Today, retirees face low bond yields, higher market volatility and longer life expectancies, making rigid adherence to this rule risky,' Mains said. One of the things the rule doesn't account for is 'sequence-of-returns risk — the danger of experiencing poor market performance early in retirement,' he said. 'In my opinion, relying solely on the 4% rule could mean either running out of money too soon or leaving unused funds that could have enriched your retirement.' So, instead consider some alternative strategies like these. The bucket strategy is ideal for retirees who want a more conservative and predictable approach with a medium- to long-term time horizon, Stroup said. The bucket strategy divides retirement savings into 'buckets' based on the time horizon for when the funds will be used: bucket one (short term), bucket two (medium term), and bucket three (long term). 'It works well for those with lower risk tolerance as it focuses on reducing the impact of market downturns in the early years of retirement,' Stroup said. This strategy allows retirees to draw from more stable investments in the short term while giving their riskier investments more time to grow, which reduces the impact of short-term market volatility. The dynamic withdrawal strategy is often used by retirees who have a longer time horizon, who are willing to adjust their withdrawals based on market performance and who have a moderate-to-high risk tolerance, Stroup explained. 'Instead of sticking to a fixed 4% withdrawal rate, the dynamic withdrawal strategy adjusts withdrawals based on the portfolio's performance,' he said. For example, if the market is doing well, retirees can withdraw more. However, if the market is underperforming, they would be forced to withdraw less. This approach adjusts withdrawals based on portfolio performance, Mains shared. For example, you might reduce spending during a down market to preserve capital and increase withdrawals when markets recover. It's flexible and accounts for real-time conditions, unlike the rigid 4% rule. Younger retirees with higher risk tolerances might withdraw more aggressively early on, assuming they can downsize later, Mains said. Conversely, those prioritizing stability might withdraw less initially and let their investments grow longer. Mains stressed that regardless of what approach you take, retirees should revisit their plans regularly. 'Life circumstances and market conditions change, so what works at 65 may not work at 75. Flexibility is key — view retirement as a dynamic journey rather than a static phase.' He also urged retirees not to underestimate the importance of nonfinancial aspects of retirement, like health, relationships and purpose. 'A well-rounded plan goes beyond money to ensure a fulfilling life.' More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on Why You Should Reconsider This Golden Rule of Retirement, According to Financial Advisors Sign in to access your portfolio
