Pelkonen & Associates LLC Home
  • Home
  • Market Updates 
    • PANDA Commentary
    • Client Letters
    • Daily Market Brief
  • About 
    • Mission
    • Our Team
    • Our Philosophy
    • Our Process
  • Services 
    • Financial Planning
    • Investment Advisory
    • Consulting
    • Insurance
  • Client Portals 
    • My Financial Plan
    • Performance Portal
    • My Fidelity Accounts
  • Resources 
    • Calculators
    • Tax Resources
    • Retirement
    • Estate
    • Investment
    • Insurance
    • Tax
    • Money
    • Lifestyle
    • Useful Links
  • Contact

The Richest Man in Babylon

In good times and bad, consistently saving a percentage of your income is a sound financial practice.

Have A Question About This Topic?

Thank you! Oops!

Related Content

How Women Can Prepare For Retirement

How Women Can Prepare For Retirement

Are women prepared for a 20-year retirement?

Does Your Portfolio Fit Your Retirement Lifestyle?

Does Your Portfolio Fit Your Retirement Lifestyle?

Lifestyle considerations in creating your retirement portfolio.

Life and Death of a Twenty Dollar Bill

Life and Death of a Twenty Dollar Bill

How long does a $20 bill last?

Contact

Office: 631-396-1032

Fax: 631-600-1097

425 Broadhollow Rd

Suite 112

Melville, NY 11747

info@ampwealthcare.com

Quick Links

  • Retirement
  • Investment
  • Estate
  • Insurance
  • Tax
  • Money
  • Lifestyle
  • Latest Articles
  • All Videos
  • All Calculators

Check the background of your financial professional on FINRA's BrokerCheck.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

We take protecting your data and privacy very seriously. As of January 1, 2020 the California Consumer Privacy Act (CCPA) suggests the following link as an extra measure to safeguard your data: Do not sell my personal information.

Copyright 2026 FMG Suite.

Pelkonen and Associates LLC is a registered investment advisor. 

Click here to view our SEC form CRS.

Fidelity Clearing & Custody Solutions® provides clearing, custody, or other brokerage services to Pelkonen and Associates LLC through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC. Through our relationship with Fidelity Clearing & Custody Solutions®, you will receive a simplified, consolidated statement each month reflecting all your investment positions and transactions in your Fidelity brokerage account.  

Fidelity Clearing & Custody Solutions® provides a comprehensive clearing and custody platform, brokerage services, trading capabilities, and practice management and consulting to registered investment advisors (RIAs), including strategic acquirers and professional asset managers, as well as retirement recordkeepers, broker-dealer firms, banks, and insurance companies through National Financial Services LLC (NFS) or Fidelity Brokerage Services LLC, Members NYSE, SIPC. In addition to providing services to third-party institutions, the NFS brokerage platform supports all the clearing and custody businesses at Fidelity, including Fidelity’s retail and capital markets businesses, bringing NFS assets under administration to more than $4 trillion.

Securities in accounts carried by National Financial Services LLC (NFS), a Fidelity Investments company, are protected in accordance with the Securities Investor Protection Corporation (SIPC) up to $500,000. The $500,000 total amount of SIPC protection is inclusive of up to $250,000 protection on claims for cash, subject to periodic adjustments for inflation in accordance with terms of the SIPC statute and approval by SIPC’s board of directors. NFS also has arranged for coverage above these limits. Neither coverage protects against a decline in the market value of securities, nor does either coverage extend to certain securities that are considered ineligible for coverage. For more details about SIPC, or to request a SIPC brochure, visit www.sipc.org or call 202.371.8300. “Excess of SIPC” Coverage In addition to SIPC protection, NFS provides for brokerage accounts additional “excess of SIPC” coverage. The excess of SIPC coverage will be used only when SIPC coverage is exhausted. Like SIPC protection, excess of SIPC protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker-dealers remain in business. Total aggregate excess of SIPC coverage available through NFS’s excess of SIPC policy is $1 billion. Within NFS’s excess of SIPC coverage, there is no per customer dollar limit on coverage of securities, but there is a per-account limit of $1.9 million on coverage of cash awaiting investment. This is the maximum excess of SIPC protection currently available in the brokerage industry.

Important Disclaimers

Pelkonen and Associates Wealth Management Strategies, LLC ("PANDA WMS") is a Registered Investment Advisor ("RIA") located in the State of New York.  PANDA provides investment advisory and related services for clients nationally. PANDA WMS will maintain all applicable registration and licenses as required by the various states in which Advisor Wealth conducts business, as applicable. PANDA WMS renders individualized responses to persons in a particular state only after complying with all regulatory requirements or pursuant to an applicable state exemption or exclusion.

Terms of Use

Please read these terms and conditions of use (“Terms”) carefully before using the website located at [www.ampwealthcare.com/disclosures] (“Website”) or any of the information or services provided by PANDA WMS, LLC (collectively “Pelkonen and Associates,” “we,” “our,” “us”) in connection with the website. By using the website, you acknowledge that you have read and understood these Terms and accept to be legally bound by them. If you do not accept and agree to these Terms, you are not an authorized user of the website or any of the information or services provided by PANDA WMS in connection with the website and should promptly terminate all use thereof. The terms “you” and “your” mean you and any entity you may represent in connection with the use of the website. You may use your browser to download or print a copy of these Terms for your records.

PANDA WMS reserves the right to change, modify, add or remove portions of these Terms at any time for any reason. We suggest that you review these Terms periodically for changes. Such changes shall be effective immediately upon posting. You acknowledge that by accessing our website after we have posted changes to these Terms, you agree to these Terms as modified.

These Terms were last updated on December, 2025.

Risk Disclosure

Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that the future performance of any specific investment or investment strategy will be profitable.

 Asset allocation may be used in an effort to manage risk and enhance returns. It does not, however, guarantee a profit or protect against loss. The performance of the asset allocation strategies depends on the underlying investments. 

This website is intended to provide general information about PANDA WMS and its services. It is not intended to offer or deliver investment advice in any way. Information regarding investment services is provided solely to gain an understanding of our investment philosophy and our strategies and to be able to contact us for further information.

Market data, articles, and other content on this website are based on generally-available information and are believed to be reliable. Advisor Wealth does not guarantee the accuracy of the information contained on this website. The information is of a general nature and should not be construed as investment advice.

Please remember that it remains your responsibility to advise PANDA WMS, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.

PANDA WMS will provide all prospective clients with a copy of our current Form ADV, Part 2A ("Disclosure Brochure"), Form ADV Part 2B, which is the Brochure Supplement for each advisory person supporting a particular client, [if SEC-registered and the Form ADV Part 3 (“Client Relationship Summary” or “Form CRS”)]. You may obtain a copy of these disclosures on the U.S. Securities and Exchange Commission’s (“SEC”) website at [www.adviserinfo.sec.gov/firm/summary/CRD#305933], or you may contact us to request a free copy via .pdf or hardcopy.

Privacy Disclosures

PANDA WMS is committed to safeguarding the use of the personal information of our Clients (also referred to as “you” and “your”) that we obtain as your Investment Advisor, as described in our Privacy Policy.

PANDA WMS does not collect personal nonpublic information through this website; however, the Advisor may collect information from you on application forms, agreements, profile or investment policy statements, and other documents received or processed in relation to services we provide. We also may collect information from other sources.

We do not respond to "do not track" requests because we do not track you over time or across third-party websites to provide targeted advertising. We may track you across our website to help us improve our content.

We may use "cookies" and similar online technologies to keep and sometimes track information about you regarding your usage of our website. Cookies are small data files sent to your browser or related software from a Web server and stored on your device. Cookies help us to collect information about your usage of our website, including date and time of visits, pages viewed, amount of time spent on our sites, or general information about the device used to access the site, such as the browser used. You can refuse to store or delete cookies by configuring your web browser settings. Most browsers and mobile devices have their own settings to manage cookies. If you refuse a cookie when on our website or delete cookies, you may experience some inconvenience in using our website, such as having to re-configure preferences.

 

When you are on this website, you may have the opportunity to click through to other websites, including websites operated by unaffiliated third parties. These sites may collect nonpublic personal information about you. We do not control sites operated by these entities and are not responsible for the information practices of these sites. This Privacy Policy does not address the information practices of other websites. The privacy policies of websites operated by third parties are located on those sites.

For a copy of the Advisor Wealth Privacy Policy, please contact us.

Email Disclosures

PANDA WMS often communicates with its clients and prospective clients through electronic mail (“email”) and other electronic means. Your privacy and security are very important to us. PANDA WMS makes every effort to ensure that email communications do not contain sensitive information. We remind our clients and others not to send Advisor Wealth private information over email. If you have sensitive data to deliver, we can provide secure means for such delivery.

PLEASE NOTE: PANDA WMS does not accept trading or money movement instructions via email. 

As a registered investment advisor, PANDA WMS emails may be subject to inspection by the Chief Compliance Officer (“CCO”) of PANDA WMS or the securities regulators.

 If you have received an email from PANDA WMS in error, we ask that you contact the sender and destroy the email and its contents.

 If you have any questions regarding our email policies, please contact us.

Social Websites

PANDA WMS may utilize third-party websites, including social media websites, blogs, and other interactive content. PANDA WMS considers all interactions with clients, prospective clients, and the general public on these sites to be advertisements under the securities regulations. As such, PANDA WMS generally retains copies of information that PANDA WMS or third parties may contribute to such sites. This information is subject to review and inspection by the CCO of PANDA WMS or the securities regulators.

Information provided on these sites is for informational and/or educational purposes only. It is not, in any way, to be considered investment advice nor a recommendation of any investment product. Advice may only be provided by PANDA WMS’s advisory persons after entering into an advisory agreement and providing PANDA WMS with all requested background and account information.

If you have any questions regarding our policies, please contact us.