Blog


16

Feb 2017

Types of Retirement Investment Vehicles

Last week in Retirement Planning 101, we discussed what kind of assumptions you can use to figure out the island we call ‘your number’. Once you figure out your number, there are really two very important ships that will get to that number. First, how much money do you need to save on a monthly basis to get your number? Second, what rate of return...

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14

Feb 2017

What Are Your College Education Planning Assumptions?

What Are Your College Education Planning Assumptions? You get home from work one day and your child has the magical letter to open from that college or university that you both always dreamed they would attend. It’s possible the school is your alma mater or perhaps it is the Ivy League university you always thought your child was possible of being a part of for...

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09

Feb 2017

Should You Leave Your IRAs to a Trust?

Reasons to Name a Trust as Your Ira Beneficiary: #1 Minor. If a minor (under 18 or 21 depending on state law) is named as the IRA beneficiary, it provides a reason to name a trust because minors are not able to make tax elections like IRA distribution decisions. Even if your beneficiary is not a minor, you may want the trust to provide for...

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08

Feb 2017

THE 6 BIG RISKS® Improper Tax Planning

One of THE 6 BIG RISKS® is Improper Tax Planning. Improper tax planning is costly. Citizens must pay their legally required taxes, of course, but there is no need to send the government any more money than required. The IRS code is full of opportunities for those who are looking. To read more about this risk and the other five, you may pick up a...

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07

Feb 2017

Entrepreneur Series Lesson 1: Being Undercapitalized

It’s always exciting to think about the idea of having your own new start up. You hear about stories where entrepreneurs started with just $300 and a cardboard box and then turned their business into millions. In reality, having worked with many types of business owners, the first mistake made by most is simply not having enough capital or access to capital while growing your...

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01

Feb 2017

THE 6 BIG RISKS® Becoming Sick or Injured

One of THE 6 BIG RISKS® is Becoming Sick or Injured. Statistically, you are more likely to face a disability during your working years than a premature death. unfortunately, planning for a disability event is at the bottom of the list of financial priorities for most people — if it is on that list at all. To read more about this risk and the other...

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31

Jan 2017

How Much Should I Give For A Wedding Gift?

Your college roommate or long time childhood friend invites you to their wedding. Or better yet, you’ve got a big family and your second cousin Joe is getting married and last time you saw him was two years ago at the family reunion. Now you have to go spend money to get an airline ticket, book a hotel room, and possibly buy a new dress...

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26

Jan 2017

10 Things To Include In Your Will

#1 Name a personal representative or executor In an individual will, your parent can name a person or institution to at as a personal representative, called an executor in some states, who will be responsible for making sure that the will is carried out as written and that the property is divvied up and distributed as directed. It’s also wise to name an alternate in...

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24

Jan 2017

Is It Too Late To Begin Saving For Retirement?

You are 45 years old and it dawns on you that your college days are looking further and further in your review view mirror and you can see the exit sign for retirement not too far down the road. As you sit down at your kitchen table to really assess your overall financial situation, you begin to ponder the life and financial mistakes you have...

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19

Jan 2017

Should I Refinance My Mortgage?

These past couple of years many clients have asked about whether or not they should refinance their mortgage. Along with people who have never refinanced, those that did even 18 months ago may be licking their chops to do the tango for another refinance soon. For the week that ended December 23rd, 2012, the 30-year mortgage rate fell to 4.05% which was the lowest in...

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18

Jan 2017

THE 6 BIG RISKS® – Dying Too Soon

One of THE 6 BIG RISKS® is dying too soon. We all know people who have suffered such a loss. The emotional impact can be far reaching. The financial impacts can have significant consequences, as well. The good news is that it is quite simple to plan the financial aspects. Grief must take its uncertain course, but in the meantime, one thing is for sure:...

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17

Jan 2017

Five Disaster Financial Moves

If you avoid these 5 disaster financial moves, you may have a good chance of becoming prosperous and hitting your goals. If you have made one of these already, it may be time to come see us to show you how to get back on track. #1 Buying More Home Than You Can Afford This is our top one as it will truly cripple your...

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12

Jan 2017

5 Myths About IRA Investing

Many people in the United States may be missing out on one of the best retirement opportunities of opening up an IRA account. Here are 5 Myths that we can clear up so you can better understand how these powerful retirement vehicles can work for you. Myth 1 – I can only invest my IRA where I open the account. We have often heard people...

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10

Jan 2017

Do you need disability insurance?

There are many types of insurance programs to manage these days. Yet, one of the programs most misunderstood by employees of companies and small business owners is the need for disability insurance to protect your income. Since there are so many nuances of disability insurance, here are some key questions to ask yourself regarding your personal situation. #1 What percentage of my income will you...

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05

Jan 2017

Calculate Your RMD as Easy as 1-2-3

A required minimum distribution (RMD) is the minimum amount that must be withdrawn from your retirement account each year. Traditional IRA owners are subject to RMDs beginning in the year in which they turn age 70 ½. Most participants in 401(k) and similar plans must begin RMDs at the same time. #1 Determine Your Distribution Year The distribution year is the year for which you...

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03

Jan 2017

3 Money Lessons I Learned From My Parents

Often we don’t appreciate everything that happens to us growing up as a child. We know that our formative years can very much outline and shape the way we think and act as an adult. We know that in some households money never gets discussed with the kids and in others there are detailed discussions about how to create a household budget. These money lessons...

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29

Dec 2016

Newly Married: Do we merge the money?

When you get married and take your vows, it goes something like this. I take you to be my lawful wife/husband/partner, to have and to hold, for better, for worse, for richer, for poorer, in sickness and in health, until death do us part. It does say for richer or poorer, but unfortunately many couples across America just don’t spend time discussing money when they...

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