Entries by Christopher P. Parr

Wall Street Journal – Adopting? Prepare to be Surprised

Christopher P. Parr was interviewed by Veronica Dagher, columnist for Wealth Management at WSJ.com, about the financial impact of adoption that prospective parents don’t realize until they start paying.  “Unexpected costs often crop up,” said Christopher Parr.  He recommended that “clients budget for costs to be at least 20% higher than they originally estimated.” “Those […]

The Business Monthly: Five Steps to Prepare for Tax Uncertainty

In this article, Christopher Parr provides five steps to prepare for major or potential income and investment tax changes for the 2013 tax year.  He first explains the several earned income-related changes and the investment income-related changes that require monitoring and planning as the status becomes clearer.  Earned income-related changes include employee social security, Medicare […]

The Business Monthly: Watch Out for Three Potential Traps When Searching for Higher Interest Rates

Christopher P. Parr’s article on the potential interest rate traps of seeking higher interest rates, was written in response to the low interest rate environment.  He explains the concept of financial repression and how it punishes savers and forces consumers to take more risk in an attempt to earn inflation-beating returns.  The article was inspired […]

The Business Monthly: When Does A Revocable Living Trust Make Sense?

A Revocable Living Trust (RLT) is one of the most misunderstood tools in estate planning. The RLT is sometimes over-hyped by aggressive estate planning seminar marketeers targeting senior citizens. It is important to emphasize that not all seminars on estate planning and revocable living trusts are hype. The best estate planning attorneys objectively explain when such […]

The Business Monthly: Gifting Appreciated Securities – A Win-Win Deal

Charitable contributions are an important part of many household budgets. It is quite common for families who budget carefully to base annual contributions to charities on a targeted percentage of gross household income. Charitable donations generally range between 1% to 10%. A typical percentage is perhaps 3%. Most donees, however, overlook a gifting strategy that […]

The Business Monthly: How to Weather Stock Market Turbulence

Safe to say that with a fair amount of monumental events happening throughout 2011, investors experienced the upsides and downsides of stock market turbulence. Throughout the years I have developed a few ways to weather stock market turbulence and reduce volatility through diversification. Weathering Stock Market Turbulence I recommend that investors take these five steps […]

The Baltimore Sun: Debt-Ceiling Debate

Debt-ceiling debate, market downslide test investors’ appetite for risk For risk-averse, it’s a good time review your portfolio. Christopher Parr is quoted in this article, which discusses how to manage risk in your portfolio. “If it is for short-term purposes — within the next year or up to five years — that money shouldn’t bounce […]

Columbia Financial Advisor reappointed to Howard County Pension Oversight Commission

BALTIMORE, MD — Christopher P. Parr of Clarksville, president of Columbia-based Parr Financial Solutions, Inc., has been reappointed to serve a voluntary, second five-year term as a member of the Howard County Pension Oversight Commission. Parr has also been serving as the elected chairperson of the Commission since 2007. The five-member Oversight Commission monitors the […]

Dental Products Report: Christopher P. Parr Among “2011 Best Financial Advisors for Dentists”

BALTIMORE, MD — Christopher P. Parr, president of Columbia-based Parr Financial Solutions, Inc., has been recognized by Dental Products Report as one of “2011 Best Financial Advisers for Dentists”. The list includes 77 advisers nationwide. Advisors were selected based on certifications, over a decade of experience with a depth of knowledge about a broad range […]