Experienced financial manager brings wealth of knowledge to his clients
As a financial manager and the Senior Managing Partner of KM Capital Management, Joey Feste understands the value of investing in portfolios and markets for building wealth. As the senior leader of Kingdom Life Church, he also understands the value of investing in people in order to help them succeed and make the community better for everyone involved. Along with his son, Joey Feste Jr., he is helping take both his community and his company to new heights. Feste brings over 30 years of financial experience to his clients, along with a University of Texas bachelor of arts degree in economics.
Feste is also a Registered Investment Advisor Representative, who focuses on the needs of his clients and the goals they have when it comes to building wealth. He helps teach people how to choose the right time to start investing, which can make it easier for them to make good financial choices. At KM Capital Management, he focuses on private wealth management. The company has become one of the leading firms offering this service, specifically to individuals who have high net worth and want personalized information and recommendations that help them build wealth and continue to advance their financial goals.
Entertainers and professional athletes utilize the services that Joey Feste and Joey Feste Jr. provide understanding that they can get the support to leverage their wealth and reach their financial goals. Feste is also aware, however, that people with smaller levels of wealth also need help and support to grow their investment portfolios. They can succeed with a little extra information, and some coaching as to how to move through the process of investing the right way. With a team of professionals in financial, investing, and legal niches, KM Capital Management is well positioned to offer clients what they need.
Selecting the Right Time to Invest
The right time for anyone to start investing, according to Joey Feste, is as soon as they can. However, that comes with a couple of caveats. People who have high-interest debt will want to make sure they pay that debt off before they start investing. Why? Because it does not make good financial sense, says Feste, for someone to get a return of 10 percent on their investment when they are paying out 16 percent in interest on their credit cards, for example. Instead, it is much better to pay off the debt first, before starting to use any extra money to invest.
There is another caveat, as well, and that is to make sure anyone planning to start investing has at least three months of living expenses saved up, in case they lose their job or have other unexpected issues happen to them. If those kinds of things occur, having money to cover basic bills is going to matter. Fortunately, that can be more easily done when there is a cushion of money saved up, and when a person does not need to borrow or use credit to get by for a while. Making a return on an investment is supposed to be over and above everything else, so having other things in place first is the way to go about handling that correctly.
Emergency funds may not be quite enough to deal with any eventuality, but they can generally help with many concerns that people have to face. For example, unemployment may help a person have money during a job loss or transition period, but it also may not be enough to make all the payments and handle all the bills they have to handle. With that being the case, having the emergency fund will protect them, and keep them from needing to pull invested money — which can have penalties for early withdrawal in some cases, depending on the investment vehicle.
Keep it Simple for Proper Investing
Among the things that Joey Feste and his son, Joey Feste Jr., see as highly important when it comes to money management, is keeping things as simple as possible. That means it is a good idea for someone to choose an advisor they can trust for wealth building, but they should also ensure that they are not making the idea of investing any more complicated than it needs to be. When people focus on paying off high-interest debt, building up a cushion, so they have plenty of security in the event of a job loss, and then start to invest carefully, they may often be much more successful in the long run. Larger and more complicated investments can come with time, and don’t need to be done right away.
When a person works with an employer who has a matching program, taking advantage of that program and investing a percentage of their paycheck into a retirement fund can be one of the simplest ways to get started. It is possible to invest a larger percentage of their paycheck, but the goal is to invest at least as high of a percentage as the employer will match. That is generally around three percent, but may be as high as six percent or more. That works as a good start for a wealth-building tool, and is something that nearly anyone can do if their employer offers this option to them.
It is a very effective way to maximize funds, as well, and provides employees with an opportunity to build up the money they need to retire. In some cases, when added to other investments, it will be possible for an employee to retire earlier than expected. But other investments are generally needed to allow for that. Joey Feste, along with his son, Joey Feste Jr., recommend starting out with employer matching, as well as other investments that are easy to handle. Investing is a skill, and the more research a person does on it the more they can learn how to increase what they are doing and add additional investments to it.
There is less chance of going astray financially, when smaller and more careful choices are made at the beginning. Mutual funds, stocks, and robo-advisors are all good ways to get things started. But companies like KM Capital Management can help build more wealth faster, once a person has made an initial start. Investing is a very individual thing, and a person focusing on their own goals — with help from trusted advisors — has the opportunity to build significant wealth over time.
A little over a decade ago, in 2010, Joey Feste realized that he was being called to do more than help people financially. He also wanted to help them spiritually. So he started Kingdom Life Church in San Antonio. In addition to frequently preaching at the church, he also focuses on helping local business leaders understand how to combine their work with the Word of God. That provides value to the community, and also helps companies and individuals continue to grow and build more wealth over time, so that everyone can benefit from the continued development of the people and businesses where they live.