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Four Factors That Impact Your Financial Plan

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Four Factors That Impact Your Financial Plan

While every financial plan and individual is unique, the core basis of how financial plans work is fairly similar. The good news is that there’s only a handful of data points that will really impact your financial plan, however that is also the bad news, because there’s only a few data points that will truly impact your financial plan.

Your Life Expectancy

How long you live is likely the most impactful data point in your financial plan. After all, what you’re planning for is to not run out of money after you retire, so you need to anticipate how long that period after retirement until the end of your life will last. In general, the population is living longer and this can have an impact on your finances as you may have to plan for a longer lifespan. While your life expectancy isn’t entirely under your control, you can take steps to live healthy lifestyle.

Your Spending

Your expenditures clearly impact your financial plan – if you imagine a group of ten individuals with the same income level and same assets, they’d likely all have different expenditures and would likely all have different success rates in retirement. When you’re thinking about how much money you’ll truly need to retire, that answer depends on how much you’ll planning on spending during retirement – if you’re a low spender, obviously you won’t need as much as someone who is used to spending more in their lifestyle. You’ll also need to account for unknown expenditures, such as healthcare and potential long-term care in retirement, when thinking about your potential expenses. The good news here is that your spending is an area within your control, but it can be difficult.

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Your Saving

On the flip side of spending is saving, and your ability to save absolutely impacts your financial plan. The people who prioritize saving generally have an easier time hitting their retirement goals, and the sooner you start the easier it may be to get there.

Minor Factors

While your life expectancy, spending and saving are the main factors that can impact your financial plan, there are several minor factors at play that can influence your plan. Inflation can certainly influence your plan, and this is out of your control. How your investments are structured, by your risk tolerance, may impact your financial plan, and this not only impacts your plan but is within your control. How much money you earn throughout your life impacts your plan, as it obviously allows for you to save more (but potentially also spend more) as you increase your earning potential.

While you can’t control everything that impacts your financial plan, there’s a lot than you can control, and much of it you can get help with through a professional such as a financial advisor.

Financial planning and Investment advisory services offered through Diversified, LLC. 

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Diversified is a registered investment adviser, and the registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the SEC.

A copy of Diversified’s current written disclosure brochure which discusses, among other things, the firm’s business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov.

Diversified, LLC does not provide tax advice and should not be relied upon for purposes of filing taxes, estimating tax liabilities or avoiding any tax or penalty imposed by law. The information provided by Diversified, LLC should not be a substitute for consulting a qualified tax advisor, accountant, or other professional concerning the application of tax law or an individual tax situation.

Nothing provided on this site constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This site is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.

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Finance

Austin council member Paige Ellis may have violated campaign finance rules again

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Austin council member Paige Ellis may have violated campaign finance rules again

Austin City Council Member Paige Ellis listens to public testimony on Wednesday, Aug. 16, 2023 at City Hall. The District 8 representative, who is running for re-election this year, has previously faced scrutiny for campaign finance practices.

Mikala Compton/Austin American-Statesman

Austin City Council member Paige Ellis has again accepted campaign contributions that appear to exceed city limits, according to recent campaign finance reports, raising questions about compliance with local election law as she seeks a third term representing Southwest Austin.

Under current city rules, candidates for City Council or mayor may not accept more than $450 per contributor per election. The limit applies to individual donors, with exceptions only for the candidate and small-donor political committees.

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Campaign finance reports filed in July 2025 and January 2026 show Ellis accepted nearly $2,500 in contributions that exceeded the $450 individual cap. At least 12 donors gave more than the legal limit, either through single donations above $450 or through multiple contributions across the reporting period that cumulatively exceeded the cap.

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In some cases, donors made two or more contributions during the reporting period that, when combined, pushed their total giving beyond the limit. In other instances, donors appeared to list themselves both individually and jointly with a spouse or partner in ways that resulted in total contributions exceeding what is allowed.

Ellis’ campaign manager, Mykle Tomlinson, said he was aware of the $450 cap for individual contributors. Ellis and Tomlinson both said they believed married couples could contribute up to $900 combined, based on each spouse being allowed to give $450.

“As long as the couple hasn’t given over $900, it’s within the limits,” Ellis said. She added that this interpretation applies even when one spouse gives jointly and then later gives individually, calling it a “working definition” that campaigns have followed for years.

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Read More: Austin City Council members push to ease spending rules before vote

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Ellis said she personally knows the donors and is aware of which contributors are married, even if both spouses’ names are not listed on campaign finance forms.

However, official guidance from both the Texas Ethics Commission and the City of Austin requires contributors to list their full name on campaign finance reports.

“If a finance report listed an amount above $450 with only one name, that would be an issue for the city’s Ethics Review Commission to review,” city spokesperson Jenny LaCoste-Caputo said in a statement Wednesday.

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Central Texas-based ethics attorney Andrew Cates called it “common sense” to list contributions under two names from a married couple to clarify that those donations come from both people, adding that the whole reporting system is in place so there is no confusion about where the money is coming from.

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“If it’s combined, then say it’s combined,” he said. “It’s not that hard.”

City rules state that the candidate is responsible for filing required reports.

Campaign finance violations are reviewed by the city’s Ethics Review Commission. Ellis’ husband, Edward Espinoza, served on the commission from July 2023 through March 2025. He also previously served as Ellis’ campaign treasurer.

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Asked whether Espinoza’s service on the commission posed a conflict of interest, Tomlinson said Ellis recused herself during Espinoza’s appointment by the mayor. He added that the commission often struggled to achieve a quorum during that period and that other council members supported Espinoza’s appointment.

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“It doesn’t seem like anyone thought it was a conflict of interest,” Tomlinson said.

Read More: Austin’s proposed tax hike follows behind-the-scenes budget maneuvering

This is not the first time Ellis has faced scrutiny over campaign finance practices. In 2022, the Ethics Review Commission considered a complaint alleging 56 violations related to her campaign, including accepting contributions above city limits and failing to provide required donor employment information.

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Commissioners dismissed the allegations related to donor information but found that Ellis had accepted excessive contributions. Ellis acknowledged the violations and was sanctioned with a letter of notification. She later issued refunds for the amounts in question.

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In a written statement, Tomlinson said the commission “dismissed the lion’s share of complaints” and found that seven transactions — totaling about $20 — exceeded contribution limits by small amounts. Those funds were refunded and reflected in a subsequent campaign finance report, he said.

Ellis is running for re-election to a third term representing District 8. Because city rules generally limit members to two terms, she will have to collect signatures from at least 5% of eligible voters in her district to appear on the ballot. 

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So far, Ellis has drawn one challenger: Selena Xie, a former Austin EMS Association president, EMS commander and ICU nurse, who announced her candidacy in July. 

Voters will decide the District 8 race in the Nov. 3 election. Council districts 1, 3, 5 and 9 will also be on the ballot this November.

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Finance

Fake ‘ghost students’ stealing identities and financial aid money

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Fake ‘ghost students’ stealing identities and financial aid money

NEW YORK (WABC) — They’re called “ghost students” and they’re draining the resources of community colleges and stealing tax payer financial aid funds.

“You’re stealing from people who really have the least already,” said Dr. David Stout, President of Brookdale Community College in New Jersey. “It’s infuriating.”

Scammers are stealing people’s identities, often through data breaches, to apply for online college classes. Once they apply for financial aid and get the money, they disappear.

It’s a sophisticated scheme and community colleges are often targeted because of their open enrollment policies.

At Brookdale Community College, they’ve been receiving about 1,000 ghost student applications each year for the past three years.

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“Knowing that there are individuals out there that are trying to steal from our community college students and individuals who are trying to steal from our community and from our taxpayers is infuriating,” said Dr. Stout.

Since the pandemic started, it wasn’t rare to have students across the country sign up for his college’s online courses. But three years ago, when one of his financial aid workers noticed a bump in enrollment, the president’s team investigated.

“So she dug a little bit deeper and found that there were seven students that all shared somewhat common credentials and it was at that point that we realized that we were the victims of ghost students,” said Dr. Stout.

“Of course I’m furious that we may have individuals who try to take advantage of the open door policies that community colleges have,” said Dr. Stout.

He said there’s no evidence that any of the fake students who applied at Brookdale received financial funds, they were discovered first. Since then, the college says it has put mechanisms in place to root out fake applicants.

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Eyewitness News reached out to other colleges in the area who say they’ve also put new screening practices in place.

At the City University of New York, a spokesperson said ghost applicants make up less than 1% of its applications. In a statement, a college spokesperson said: “Thanks to our careful screening process none were accepted or provided financial aid, but we continue to strengthen our policies to reduce the number of these applications. For example, the University recently introduced CAPTCHA to screen out bots and fake applicants.”

Nassau Community College has also taken precautions.

A spokesperson said. “while we cannot disclose specific security measures, the college’s IT, financial aid, and admissions departments have been working together to protect the integrity of our admissions and financial aid processes and mitigate the risk this type of fraud poses to our institution.”

Eyewitness News partnered with ABC News to show how this is a growing problem across the country.

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The Inspector General’s Office with the U.S. Department of Education says they have 200 open investigations nationwide.

“We see in some of these fraud schemes where people are enrolled in two or three different schools at the same time receiving aid at all of them,” said Jason Williams, the U.S. Dept of Education Assistant Inspector General for Investigation.

Some schools are now using special software to screen applicants.

“It takes a tremendous amount of administrative work to go through and verify that they’re fraudulent,” said Dr. Stout.

The Brookdale Community College President says they’re in contact with other colleges in the area on a continuous basis to share information and ways to prevent ghost applicants from getting enrolled.

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Finance

Graham Price, Senior Consultant, Financial Restructuring

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Graham Price, Senior Consultant, Financial Restructuring

Graham is a senior consultant in the global special situations & private credit practice, based in the Hong Kong office. Dually qualified in England & Wales and Hong Kong, Graham focuses on both finance and restructuring matters across the Asia-Pacific region. He represents private credit funds, private equity sponsors, major institutional lenders and asset managers on a wide range of finance transactions, including cross-border leveraged financings, restructurings, special situations, direct lending, margin loans, real estate finance and corporate facilities.

Prior to joining Akin, Graham worked at leading international law firms in Hong Kong and London where he also undertook a secondment to Barclays Capital. 

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