Bloom Financial

Press Release

Bill Bloom knows how many families are feeling right now financially.

The founder of Bloom Financial grew up in a small house in Chicago’s southwest suburbs and watched many families deal with layoffs and mortgage bills. When he was in fifth grade, one of his good friend’s father died on Thanksgiving, and Bloom saw the “catastrophic” financial impact the death had on his friend’s family.

“Those memories always stuck with me,” Bloom said. “That’s why I created a recurring revenue business so my family wouldn’t have to go through these things. I didn’t want to be dependent on ‘The Man’ to pay me, and then one day tell me to go take a hike, and then I’m in big trouble.”

Bloom, author of three books – the second, Retire as You Desire, is being republished Aug. 14; the third, Money Habits For Success, will debut in October – is seeing many of the same fears he experienced growing up because of Coronavirus.

“People are scared of running out of money,” said Bloom, who lives with his wife, Jude, and 14-month-old son, James, in Chicago’s Loop neighborhood. “People are reassessing where and how they’re spending their money, every single penny. There’s a magnitude of unemployment and negativity and uncertainty.”

Bloom wrote his booked to give people a reference point and a better financial well-being regardless of whether they work with his firm, which he founded in 2014, or not.

“To properly educate people to show them what was lacking in my world growing up,” Bloom said.

Bloom graduated from Lincoln-Way East High School in the affluent suburb of Frankfort. He got an entrepreneurial bug at an early age, selling baseball cards, washing cars and other projects and watched many of his high school friends’ families who owned construction companies or were stock brokers.

“I always knew there was more to life than being a 9-to-5er,” Bloom said.

He was a star goalkeeper in high school, then started four years at Ohio Valley University in West Virginia. Over his career from 2004-07, he made 414 total saves, one of the top marks in NCAA Division II history. His saves per game average – 8.26 in 2005 and 8.42 in 2007 – are also among the highest ever. Sports, Bloom said, taught him to be competitive and see things from a team perspective.

“That’s how I work with my employees and my clients. There’s a direct correlation,” he said.

Bloom and his firm also recently debuted a “Retire As You Desire Scoreboard,” a quick-question test that tells participants if they’re mentally ready to retire.

He said the two most important tips people can do right now to give themselves the confidence to live comfortably are:

  1. Look at all of your monthly expenses and see which ones you’re actually using. There are probably services that you’re not using that you can use to pay off debt or reinvest.
  2. Find a financial professional to show you how much risk you’re taking with your portfolio. “Most Americans have no clue the amount of risk they’re truly taking,” Bloom said.

“It’s about protecting yourself from the unexpected and then you can give yourself the confidence to live comfortably,” Bloom said.

Bloom is also Treasurer of the Chicago Yacht Club Foundation. His first book is titled The Yachter’s Guide To Early Retirement. The book is a quick guide to help people keep their “yachting lifestyle in their retirement years.”

Bloom said his life and business are all about helping people.

“People are worried about losing their jobs, having money for retirement, and how they can generate income from investments if they’re forced to retire early,” Bloom said. “I help make their income last their lifetime.”

 

For more information on Bill Bloom, visit https://www.bloomfinancialco.com/Bill-Bloom.9.htm

Check the background of this financial professional on FINRA's BrokerCheck
Check the background of this financial professional on FINRA's BrokerCheck