Online Resources

Tips for Tax Season

January, 2025

Whether you file your income tax return early or at the last minute, there are ways to simplify the process and reduce what you owe – or even increase your refund – before the deadline...

Pre-Retirement Planning Guide - Finding Purpose In Life

December, 2024

Step 7: Find Your Raison d’Etre

What do you consider to be your purpose in this world? Few people think about their life that way. In Japan they call it your ikigai. In France they refer to your raison d’etre....

Pre-Retirement Planning Guide - Legacy Planning

November, 2024

Step 6: Looking to Legacy Planning to Address Future Needs of Family

How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues...

Pre-Retirement Planning Guide Estate Plan

October, 2024

The value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and tax-efficient manner. But it is also a roadmap to help your heirs understand the full breadth of your assets, where...

Pre-Retirement Planning Guide Health Plan

September, 2024

Step 4: Putting Together a Health Plan

Planning for healthcare in retirement is tricky business. Some hardcore smokers live past 100 while some hardcore exercise and fitness gurus...

Pre-Retirement Planning Guide Financial Plan

August 12

Step 3: Develop a Financial Plan

We all have a different vision for our golden years – and we are also on individual financial tracks to meet our financial goals for retirement. But if you’re not where you think...

Pre-Retirement Planning Guide Younger Adults

July, 2024

You’re never too young to start a bucket list. That’s because some things (such as bungee jumping) you probably want to knock out in your twenties. Women may want to have children before their forties...

Pre-Retirement Planning Guide Budget

June, 2024

Once you are truly good and retired – no phase out, no gig jobs, no income-earning hobbies – most people end up living on a “fixed income.” While that income may fluctuate somewhat...

Part 2: Pre-Retirement Planning Guide

May 1, 2024

There are many steps to planning for retirement. Some are legal and financial, some are about communication and some involve introspection – thinking about your life now and how you want to live the rest of it...

Part 1: Pre-Retirement Planning Guide

April, 2024

One of the more insightful quotes of baseball great Yogi Berra was, “If you don’t know where you’re going, you’ll end up someplace else.”...

What to Know About the Art Donation Deduction

March, 2024

If you would like to donate artwork to an eligible charitable organization, you might be able to take a deduction on your tax return. However, the rules are complex. There are different requirements for different values, and...

Municipal Bond Outlook for 2024

February, 2024

One of the positive aspects of sustained high interest rates is higher yields on bonds, particularly high-quality municipal bonds. It is possible that 2024 will present a different scenario, as the Federal Reserve begins a schedule of monetary...

Considerations For Paying Off a Mortgage Early

January, 2024

For many, buying a home is the biggest asset they will ever own. However, you aren’t able to fully benefit from that asset until you pay off the mortgage; until then it is technically a liability. The most common...

How to Manage Taxes in Retirement

December, 2023

The biggest difference between managing taxes throughout your career versus during retirement is that when you are retired, you are responsible for calculating how much you owe and paying it on a timely basis. Retirees...

2024 Cost of Living Adjustments

November, 2023

In one year’s time, the U.S. inflation rate dropped by more than half, from 8.2 percent in September 2022 to 3.7 percent in September of 2023....

Work and Social Security Benefits

October, 2023

You can work and still receive Social Security benefits, but how much you receive depends on a number of factors...

Widow/er Social Security Benefits

September, 2023

A widow or widower is eligible for a survivors benefit from Social Security even if they never worked – as long as the deceased spouse qualified for benefits based on his or her own income record. Also note that surviving spouses must...

The Ins and Outs of a Reverse Stock Split

August, 2023

When a company decides to conduct a reverse stock split, also referred to as a stock consolidation, the number of shares available to investors is...

New Personal Finance Provisions in the 2.0 Secure Act

July, 2023

The Continuing Appropriations Act, enacted at the end of 2022, included several provisions that impact retirement plans going forward. Specifically, the legislation enacts SECURE 2.0, an updated version...

How To Recession-Proof Your Portfolio (Just in Case)

June, 2023

Some economists and market analysts have been predicting a U.S. recession ever since last fall. They’ve been wrong before – but they’ve also been right. Rather than try to predict how the stock market will react during the next...

Estate Taxes vs. Inheritance Taxes: Understanding the Differences

May, 2023

Estate and inheritance (“death”) taxes are levied on the transfer of property at death. The difference between an estate tax and an inheritance tax is based on who pays the bill. An estate tax is levied on the estate of the deceased,...

Mega Backdoor Roth IRA

April, 2023

The Roth IRA is a retirement savings account in which you invest only after-tax dollars. Subsequently, all earnings grow tax-free and may be withdrawn tax-free. However, there are limits to who can contribute and how much they can contribute...

Multigenerational College Planning with a Family Dynasty 529 Plan

March, 2023

The College Savings 529 plan offers a way for modest-income families to save and invest for college expenses for their children as early as birth up to college age. When invested 529 funds are used to pay for the beneficiary’s qualifying...

401(k) Options After You Leave an Employer

February, 2023

Apart from the spike in inflation, 2023 ended the year with a relatively strong economy, boasting an unemployment rate of 3.5 percent (below the market forecast of 3.7 percent) with increases in wages, corporate...

No-Heir Estate Planning

January, 2023

Even if you have no heirs, you should have an estate plan. Otherwise, the state will determine the fate of your worldly possessions. In fact, if you pass away “intestate” (without a will), the state...

Retirement Tax Planning For 2023

December, 2022

Although you might get busy with the holiday season, don’t forget to consider ways to strengthen tax efficiencies for 2023 and beyond...

Do You Have an Investment Exit Strategy?

November, 2022

Are you a trader or an investor? The difference is frequently discerned by how closely you monitor the stock market and how quickly you move in and out of investments. Traders are often referred to as market timers because...

Recent Trends in Long Term Care Insurance

October, 2022

Long term care (LTC) is associated with the elderly for good reason. Over the past 50 years, life expectancy has increased significantly and is therefore something all families should be prepared to address. Even...

Should You Upgrade Your Homeowners Insurance?

September, 2022

During the first year of the pandemic, many homeowners spent their down time upgrading their homes. The year 2020 alone experienced at 3 percent uptick in spending on home improvements – to the tune of...

Stock Splits, Explained

August, 2022

Imagine selling slices of a large pizza. You can cut it into four even slices and charge $2 a slice. Or, you can cut it into eight even slices and charge $1 per slice. Either way, the total value of the pizza will still be $8...

Building Wealth Through Home Equity

July, 2022

Often the first house a person buys is an affordable condominium, townhouse or older single-family dwelling, also referred to as a “starter home.” It might be small and lack features they dream about, from...

How Social Security Benefits Are Affected by Earned Income

June, 2022

Thanks to the Great Resignation trend over the past year, there is a high availability of jobs. Therefore, now is a good time for retirees who would like to go back to work to ease into the job market. However, if you’ve...

New Required Minimum Distribution Rules for 2022

May, 2022

Starting in 2020, new legislation increased the age to begin Required Minimum Distributions (RMDs) from 70½ to 72. More recently, the IRS updated the Uniform Life Table for alignment with longer life expectancies. Note...

Give a College Savings 529 Plan For Graduation

April, 2022

If you really want to make impact in your new grad’s life, make an investment in his or her future with a 529 College Savings account. There are two versions: an investment account and a prepaid account. Assuming...

How To Maximize the Potential of Your 401(k) Plan

March, 2022

One of the easiest ways to save for retirement is to participate in an employer-sponsored retirement plan. You simply select a percentage of your paycheck that you would like transferred to your 401(k) (or similar)...

Create a Healthcare Plan for Retirement

February, 2022

If you pay $250 a month for cable and premium channels, that’s $3,000 a year. Over a 30-year period, the total cost would be $90,000. We don’t tend to think about how much we pay in regular expenses over the...

Long-Term Investment Opportunities Presented by the Infrastructure Bill

January, 2022

In November, President Biden signed legislative funding that represents the largest transportation spending package in U.S. history. The $1.2 trillion Infrastructure Investment and Jobs Act authorized funding for roads...

Venture Capitalism and 'Unicorns'

December, 2021

Venture capitalism comes from an investor who offers money to start-up companies in exchange for an equity stake – much like you see on the ABC television show, Shark Tank. As a general rule, a venture capitalist (VC)...

Flood Insurance: Insuring Your Home

November, 2021

Did you know that homeowner’s insurance doesn’t cover flood damage? Because of this, homes located in a Special Flood Hazard Area (SFHA) are required by lenders to purchase...

Strategies for Paying Off Student Loans

October, 2021

Today, 70 percent of college students graduate with an average of $30,000 in student loan debt. The average payment is nearly $400 a month and will take about 20 years to pay off. On an individual level, paying off high debt can...

What is a Net Zero Economy?

September, 2021

President Biden re-entered the United States in the Paris Agreement. This is an international treaty first signed in 2015 in which countries around the globe committed to mitigating climate change....

HSA: Save it for Retirement

August, 2021

According to Fidelity Investments, the average 65-year-old couple retiring today will need about $300,000 for out-of-pocket healthcare expenses during retirement. And that doesn’t even include long-term care. One way...

Wishing on a Star: Investors Pour Billions in to SPACs

July, 2021

A SPAC is a special purpose acquisition company. It is typically sponsored by a venture capitalist or a private equity firm that has expertise in a specific sector or industry, such as green technology. A SPAC launches...

Real Estate Opportunities in 2021

June, 2021

Even before the pandemic began, the U.S. residential real estate market was short on houses, with more people looking to buy than those who were selling. And yet, unlike the 2008 recession, any economic woes related to the...

New Rules and Ways to Use HSAs/FSAs

May, 2021

People who own a high-deductible health insurance plan may have the ability to open a health savings account (HSA). They can contribute pre-tax income to an HSA and invest the money for tax-free growth...

Roth Conversion in 2021?

April, 2021

In 2020, a year when all income brackets benefited from lower tax rates, the stock market took a nosedive at the beginning of the pandemic. For investors sharp enough to see the opportunity...

The Impact of COVID on Life Insurance

March, 2021

If someone you know died from COVID-19 and had an existing life insurance policy, there should be no problem receiving the death benefit. The terms of a life insurance contract cannot be changed after purchase, so anyone with a...

While Many Suffer Financially, Some Manage to Profit off Pandemic

February, 2021

The Federal Reserve recently reported that the 50 richest people in the United States increased their net worth by $339 billion during the first half of 2020. There are two primary contributors to this near unprecedented level of...

What To Know About Filing For Bankruptcy

January, 2021

About one million Americans file for personal bankruptcy each year, with one in 10 households having filed at some point. Given the loss of jobs, reduced income and the coronavirus recession in 2020, those...

Last Minute Financial Moves for Year's End

December, 2020

There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It’s important to take a good look at your financial portfolio in light of the plethora...

A Realistic Picture: Will You Be Able to Afford In-Home Elder Care?

November, 2020

By the end of September, the nation had recorded over a quarter million cases of COVID-19 and nearly 60,000 deaths in nursing homes that were attributed to the disease. The recent pandemic offers yet another reason why more than...

Long-Term Financial Impact of COVID-19

October, 2020

As bad as the economy is right now due to the COVID outbreak in the United States, many economists are predicting that the long-term outlook is much bleaker. Alas, Congress and the Federal Reserve’s efforts at...

Tips for Retiring in the Next 10 Years

September, 2020

The stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy – in terms of small business job...

Borrowing From Your Retirement Plan: New CARES Act Rules

August, 2020

It’s been nearly half a year since Americans first became widely aware of the coronavirus contagion within the United States. While for a brief month it looked as if we had the virus in hand, since...

How To Use Qualified Charitable Distributions For Charitable Giving

July, 2020

Each year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and Jobs Act curbed this tax advantage because it reduced the...

Why Sequence of Returns Risk Matters Now

June, 2020

That year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of...

Prospects for Investing in the 2020s

May, 2020

The third decade of the 21^st century started out with a vigorous economy, record low unemployment levels and benign inflation. But late in the first quarter over the span...

The Economic Impact of Coronavirus

April, 2020

In the days ahead, the COVID-19 pandemic will likely be described in economic terms as a Black Swan. This phrase is used to describe an event that: 1) was unpredictable; 2) causes severe...

SECURE Act Seeks to Help Americans Save More for the Golden Years

March, 2020

At the end of 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of a year-end appropriations package. This bill is designed to address specific issues...

Safety vs. Probability: Planning For Retirement

February, 2020

As we progress through life, we find there are certain things we can control and others we cannot. However, even with the things we can’t control, we can exercise good judgement based on facts...

Economic Correlation: Cyclical and Non-Cyclical Stocks

January, 2020

A rising tide might lift all boats, but the same cannot be said for the economy....

Gross Domestic Product: A Primer

December, 2019

The economic indicator known as Gross Domestic Product (GDP) represents the dollar value of all purchased goods and services over the course of one year. It is comprised of purchases from...

What to Expect and How to Prepare for a Recession

November, 2019

Economists generally determine that the country has fallen into a recession after two consecutive quarters of negative gross domestic product (GDP) growth. Since 1967, the United States has experienced seven recessions...

How to Inflation-Proof a Retirement Portfolio

October, 2019

Statistics indicate that the average life expectancy is longer than it used to be, but empirically we see this every day among elderly people who have lived much longer than they probably expected. This phenomenon...

Lost Inheritance: How To Find a Deceased Parent's Assets

September, 2019

If you have a relative who recently died and left you in charge of his or her finances, you are not alone. You probably have colleagues at work in the same boat. Unclaimed Property...

Proposed Changes For Retirement Plans

August, 2019

Laws regarding retirement savings plans don’t change all that often or all that much. Occasionally, new regulations are issued mandating disclosures that no one ever reads – and inflation-adjusted...

Financial Tips for Recent College Graduates

July, 2019

Members of the college graduating class of 2017 owed an average of close to $30,000 each in student loan debt. Imagine starting out adult life with that kind of debt load?...

Social Security: News, Tips and Trends

June 2019

There are a number of threats that both retirees and pre-retirees are facing right now when it comes to drawing Social Security benefits. For example, there’s a new scam this year. Seniors are being solicited...

Coverage and Tax Considerations For Work-Sponsored Life Insurance

May 2019

While employers have cut back on pensions and their 401(k) plans do not offer the same level of retirement income security, they have stepped up in the area of life insurance. The majority of...

Elderly Caregiver Facts and Figures

April 2019

These days, people who live to age 65 can expect to live at least another 20 years. That means many are likely to require some form of assisted care giving. According to aging experts, the following guidelines...

8 Strategies To Reduce Market Exposure

March 2019

Over a 10-day period in December 2018, the Dow Jones Industrial Average (DJIA) dropped by more than 350 points six different times. It then experienced its largest increase on record – a 1,000-point...

New Proposals for Government Programs

February 2019

The Tax Cuts and Jobs Act delivered a wealth of benefits for taxpayers at every income level, but none more so than for the very rich. The net result of huge tax breaks for both high-income and corporate taxpayers...

What Leading Economic Indicators Tell Us

January 2019

One of the reasons investing is tricky is because it involves so many factors that we cannot control. One factor is the specific investment itself. In the case of a stock, the share price relies on company management...

Financial Planning Advice for Women

December 2018

The path for women is a little like two steps forward, one step back. For example, almost 40 percent of all privately held firms in the United States today are owned by women. Furthermore, the 2018 midterm elections...

Advantages of Single Premium Whole Life Policy

November 2018

A Single Premium Whole Life (SPWL) insurance policy works just like it sounds – you purchase the contract with one premium upfront. For folks who haven’t carried life insurance since...

Potential Impacts of Midterm Elections

October 2018

Next month, all 435 seats of the U.S. House of Representatives and 35 of the 100 seats in the Senate will be up for grabs in the midterm elections. Historically, congressional midterms have...

Funding Options For Long Term Care Expenses

September 2018

The longer people live, the greater the chance they will need assistance in old age. And today, people are living longer than ever. As if providing for one’s own retirement isn’t hard...

The Perks of Working Past Traditional Retirement Age

August 2018

A large number of Americans intend to keep working past retirement age. For many, their reasons are financial. Some have a high level of debt while others are afraid if they retire too soon, they will run out of money...

Self-Employment Deductions Under the New Tax Law

July 2018

The new Tax Cuts and Jobs Act, which went into effect on Jan. 1, has sent an unambiguous message that the current GOP-dominated Congress and Presidential Administration are decidedly...

Common Money Mistakes As We Age

June 2018

It is common knowledge that as we grow old, our bodies tend to not work as well. Some folks begin having physical challenges, some have cognitive issues and some have both. But what we don’t know is which, if any, of those challenges we will...

Impact of International Trade Tariffs

May 2018

In March of this year, the Trump Administration made good on campaign promises by announcing a new global trade policy that it believes will better serve Americans. Specifically, it features...

Dividend Stocks Can Be Reliable Source of Income for Retirees

April 2018

The low interest rate environment of recent years has presented challenges to retirees who rely on bonds to supplement retirement income. Low rates and sustained equity outperformance have made stocks more...

This Year's Fuel for Economic Growth

March 2018

There are several factors expected to help fuel the economy through 2018. The first is government intervention through fiscal policy......

Retirement: Living on Less

February 2018

By 2035, millions of baby boomers might well be living a meager existence. That’s because today, close to half of the households in the United States have absolutely nothing saved for retirement. Over the past......

Marketing Timing Pros and Cons

January 2018

The S&P 500 has enjoyed an eight-year bull market with an average annual return of 19.4 percent. Starting in 2019, U.S. companies will benefit from a massive cut in the corporate tax rate from 35 percent to 21...

High Concept Strategies: Socially Responsible Investing

December 2017

This is the third in a series of articles discussing various types of high-concept investment styles. This month we tackle socially responsible investing......

High Concept Strategies: Evidence-Based Investing

November 2017

This is the second in a series of articles discussing various types of high-concept investment styles. This month we explain evidenced-based investing......

High Concept Strategies: Goals-Based Investing

October 2017

This is the first of a series of articles discussing various types of high-concept investment styles. This month we start with goals-based investing......

Benefits of Delaying Retirement Number Many

September 2017

Traditionally, retirement was short and peaceful. People worked jobs that were hard on the body – such as farming, manufacturing, tradesmen or railroad workers. If you made it to retirement, you were relieved......

What Is Your Retirement Income Savings Mix?

August 2017

According to a recent study by the Center for Retirement Research at Boston College, the following percentages represent how much the average American will need to rely on personal savings to provide income throughout retirement......

Reviewing Non-Spouse IRA Beneficiary Rules

July 2017

At the end of last year, Congress was considering tying up a tax revenue loophole known as the Stretch IRA. Currently, a traditional IRA can be passed from one generation to the next, thereby extending tax-deferred growth......

Ideas to Mitigate the Biggest Threats to Retirement Income

June 2017

The LIMRA Secure Retirement Institute estimates that the average healthy person will live through their mid-90s. If you retire at the traditional age during your 60s, this could mean needing enough retirement...

Why Buy an Annuity When Interest Rates Rise?

May 2017

The Republican takeover of the White House has stirred speculation that inflation will rise, largely based on positive consumer sentiment, steady growth in jobs and President Trump's support for increased spending......

What Is Reflation and How Does It Affect Investors?

April 2017

After four years of inflation rates just at or below 2 percent, many economists believe America has finally entered a period of reflation. Reflation is the turning point and first phase of economic growth toward increased...

Life Insurance for Solving Middle-Age Financial Priorities

March 2017

Life Insurance - The older we get, the more financially complicated our lives become. It seems like one day we wake up and we have a mortgage, ongoing home repair and maintenance demands, a 401(k) plan...

Managing Risk in the New World

February 2017

Managing Risk - What a difference just a few years, a few weeks, or even a few Tweets can make. Ever since the turn of the century we've experienced a rapid boom in technology, the real estate and banking collapse, one of the...

Which Type of Bond Is Safest?

January 2017

A bond is a loan an investor makes to an organization in exchange for regular interest payments over a specific period of time. At the end of that period, known as its maturity date, the loan is repaid in...

Why the Social Security COLA Adjustment Doesn't Work

December 2016

In October of 2016, the Social Security Administration released the annual cost of living adjustment (COLA) update for Social Security benefits for 2017 the upcoming year. The average monthly increase next year in 2017 for retirees...

Reverse Mortgage Update: Pros and Cons

November 2016

By 2030, one in five Americans will be 65 or older. Among today’s retirees, 87 percent say they want to stay in their current home and community as they age. It’s easy to imagine those numbers will increase by...

Should I Refinance Again?

October 2016

Refinancing is a matter of crunching the numbers. The real question is, will it save you money? The answer lies in several factors, such as the new interest rate, the new mortgage term,...

How the Stock Market Performs in Election Years

September 2016

Whether it’s an election year or not, the stock market doesn’t like uncertainty. Unfortunately, in a highly charged election year like this one, uncertainty is the...

How to Manage Spending in Retirement

August 2016

One of the most difficult things to do is plan for the unknown. This holds true for retirement income planning. You don't know how much income you'll need once you stop earning a...

How Morningstar Rates Mutual Funds

July 2016

Mutual funds started to become popular back in the 1980s. However, there was one problem. Lack of information. While stock investors could get information on individual companies,...

Investing For Dividends

June 2016

For all the bluster about stock market volatility, when you count dividends the S&P 500 has already surpassed its highest return on record. Unlike the interest from bonds, stock dividends tend to grow over...

Investing in Big Ideas

May 2016

In the traditional sense of financial markets, they are cyclical. Sectors get hot, industries bank on trends, and companies ebb and flow on the whims of consumerism. But at the micro level, innovation always persists. Even during...

The Perks and Pitfalls of Managing Your 401(k)

April 2016

The second program is auto escalation, in which the employer automatically increases the amount each participant defers to the 401(k) on an annual basis. Both of the plans allow workers to opt out of the automatic...

Bond Strategies that Benefit Investors

March 2016

A portfolio of individual bonds can provide constant, dependable income both now and in the future. Now that we're in an environment of rising interest rates, it's more important than ever to develop a bond portfolio...

Divorce Financial Agreement Strategies

February 2016

In the United States, one out of three baby boomers is single. One in every four divorce cases filed involves a spouse over age 50. What's more, over the past 20 years the divorce rate for people older than 50 has...

How Behavioral Finance Impacts Personal Investing

January 2016

Financial planning can be intimidating, but personal financial planning is more like a puzzle you have to work out. That's because traditional finance assumes that markets are...

Outside the Gift Box, Year-End Giving Strategies

December 2015

As we approach the end of the year, it's a good time to consider making holiday charitable gifts - which might come in handy during tax season. In addition to the usual year-end strategies,...

Investing in the Silver Dollar Generation

November 2015

Baby boomers continue to be a driving force in economic growth and innovation in the United States and throughout the world. In fact, people age 50 and older (which...

Retiree Healthcare Plans

October 2015

According to the Employee Benefits Research Institute, spouses retiring in 2014 who take prescription drugs and want a 90 percent chance of having enough money for medical...

Planning for Rising Interest Rates

September 2015

For several months, the Federal Reserve Board has hinted that it will begin to raise the target range for the federal funds rate when it sees progress toward its objectives of...

How to Design a Diversified Retirement Income Portfolio

August 2015

As people near retirement, the traditional strategy has been to move all growth-oriented investments to more conservative vehicles. This might have worked fine back when...

Peer Lending as an Alternative Funding Option

July 2015

Sometimes people look for alternative lending sources because they have credit issues and can't find a lender that will loan them money. When this happens, the sources they find might...

How a Fixed Index Annuity Works

June 2015

One of the most popular vehicles to help supplement retirement income today is the annuity. An annuity is an insurance contract that you purchase from an insurance company; it...

Disability Insurance: How to Create Tax-Free Income Replacement

May 2015

Disability insurance has traditionally been offered in two forms: short-term (typically from 90 days to a year) and long-term (beginning after 90 days/year). Some companies offer a...

Benefits of Converting to a Trusteed IRA

April 2015

In the United States, approximately $7.3 trillion in assets are held in IRAs. Much of that money will not be spent during the lifetime of the account owners, but instead be passed on to...

Health Savings Account Strategies

March 2015

While the growth in healthcare expenses has slowed in recent years (3.6 percent in 2013), it's still growing substantially higher than the overall inflation rate (1.5 percent for 2013). For this...

Add the New myRA to Retirement Savings Options

February 2015

For millions of workers who don't have access to an employer-sponsored retirement plan, the new myRA (which stands for My Retirement Account) enables them to save for retirement...

Back-up Plan in Case of Dementia

January 2015

Whether suffering from outright dementia, Alzheimer's or even just more frequent "senior moments," by about age 70 the human brain experiences a decline in fluid...

Tax Strategies For Rental Property

December 2014

Rental property can be a great long-term investment while providing current income. However, they also can be a lot of work. And continuing the role of landlord...

Create a Charitable Giving Legacy with a Donor Advised Fund

November 2014

'Tis the season for giving, and there's nothing better than giving something that's worth a lot more than you paid for it. If you're of a mind...

How to Use an IRA for Asset Protection

October 2014

Most people do not anticipate a situation in which a creditor will come after their assets, but these situations are more common than you might think. For example, say your...

Is Your Estate Settlement Ready?

September 2014

If you were to pass away today, would your surviving spouse, children and/or team of professional advisors know all of the relevant details necessary to settle your...

Making Changes to Your Tax Withholding

August 2014

If you claim too few exemptions on your W-4, you could be giving the IRS an interest-free loan each year. And while there's an exuberance that accompanies receiving a tax refund each...

Selling Your Business to Pay for Retirement

July 2014

Many small business owners get so immersed in day-to-day operations that they don't take the time to consider long-range plans, such as retirement. But even for those who are able to...

The Municipal Bond Market: Current Risks, Opportunities and Tax Advantages

June 2014

Municipal bonds posted impressive returns in the first quarter of this year and are poised for a strong 2014 thanks to low supply and improving fundamentals at both state and local levels. New issues are expected to drop to around $280 billion...

Planning for the Two Stages of Retirement

May 2014

Throughout our careers, we stash away money for retirement. Then that fated day arrives when we push away from the desk and retire. Perhaps we receive a gold watch or other symbolic appreciation of our...

The Importance of Reviewing/Updating a Will and Account Beneficiary Designations

April 2014

In his mid-twenties, Gary married a waitress named Tiffany. The marriage lasted only a couple of years, and then Gary went on to marry Jill, had two children – Caroline and...

Exotic Trusts for Specific Needs

March 2014

There are two basic types of trusts: Living trusts and testamentary trusts. A living trust can be either revocable or irrevocable, and is set up during...

Six Facts about Spousal Portability

February 2014

The American Taxpayer Relief Act (ATRA) of 2012 made permanent the federal estate tax exemption amount of $5 million - annually adjusted for inflation ($5.34 million in 2014). The...

8 Reasons to Manage Your Investment Portfolio in a Roth IRA

January 2014

You may wonder why you should place investments in a Roth when you would lose the current tax deduction on contributions to a tax-deferred account. The following are eight good...

Tax Free HSA Transfers Provide for Savings

December 2013

The Health Savings Account (HSA) was originally created to offer a financial incentive for individuals enrolled in a high deductible health care plan (HDHP) to save and help pay for some of their own health...

Year End Planning Tips

November 2013

As we enter the last quarter of 2013, you should be considering strategies that will help minimize this year's tax burden. For example, now's the time to figure out if you'll be...

Rules for an Inherited IRA

October 2013

Generally, investors open an IRA with one goal in mind: To accumulate assets tax-deferred in order to build a healthy retirement...

Late-Stage College Planning

September 2013

Saving for higher education isn't just about tuition - there's housing, books, computers, lab fees, student meal cards, travel expenses - and the list goes...

Non-Tax Reasons to Use a Trust

August 2013

The American Taxpayer Relief Act of 2012 made permanent the lifetime exclusion for estate, gift and generation skipping taxes. Obviously, a key reason people engage an irrevocable trust in...

The Future of Bonds and Interest Rates

July 2013

In the second quarter of this year, the yield on the 10-year Treasury bond rose 54 basis points to 2.24 percent in the span of one month. Economists have been...

Pension Buyouts and Trends

June 2013

Rich pension plans appear to be rapidly heading toward extinction, much like single-employer longevity and the 30-year anniversary watch. Today...

Digital Estate Planning Deserves Consideration

May 2013

Estate planning grows more complex every day. Not simply because of changes in tax laws, but also due to trends in modern technology. For example, consider...

Assets and Liabilities: Managing What You Owe is as Important as What You Own

April 2013

One of the things we learned following the housing bubble and economic recession was that too many Americans had their net worth tied up in their home values. Back...

How a Securities-Based Line of Credit Works

March 2013

In light of pending tax increases, many people were advised to sell securities and/or accelerate income in 2012 to take advantage of the lower tax rates that were scheduled to end...

401(k) News and Strategies

February 2013

Many employees who save for retirement through an employer plan have ravaged their accounts in recent years. In fact, it's the more mature...

Key Investment Sectors for 2013

January 2013

A presidential election can influence the investment markets based on regulatory policy guided by the White House and current Congress. However, markets are driven more by economic factors,...

Health Care Under Obama

December 2012

Now that President Obama has been re-elected, the debate over repealing his Obamacare legislation has ended and plans are under way to meet the law's mandates by their respective dates. The...

Year-End Tax and Portfolio Tips

November 2012

One day, we might find ourselves looking back at 2012 as the grand old days of tax planning. While the 2010 Tax Relief Act’s lower rates could be extended next year, it is likely some...

Take Advantage of Extended Low Interest Rates

October 2012

The Federal Reserve recently announced it would keep the federal funds rate at 0 percent to 0.25 percent at least through mid-2015. This nearly three-year timeline presents an excellent opportunity...

Mortgage Opportunities Abound in Today's Market

September 2012

By early summer of this year, 30-year fixed mortgage rates had fallen to 3.55 percent - their lowest level in 40 years. One of the reasons rates have remained l...

Key Employee Insurance: Protect Your Business by Insuring Key Employees

August 2012

How much of your business depends on the knowledge and talents of a small group of people - or even just one person? In a private professional practice, such as that of a doctor or attorney, the firm...

Coordinate Your Advisor Team
How to get your financial advisor, CPA and attorney working together

July 2012

In today's complicated field of financial planning, no one professional can be a "Jack of all trades." Your financial planner helps you manage your investments; your CPA advises you on tax...

Financial Planning After a Layoff

June 2012

In April, the national unemployment rate was at 8.1 percent and 12.5 million Americans were officially out of work, according to the Bureau of Labor Statistics. The survey...

The Costs of an Epidemic: Financial Planning for Alzheimer's Disease

May 2012

According to the "2012 Alzheime's Disease Facts and Figures," 13 percent of older Americans are afflicted with Alzheimer's disease. Alzheimer's ranks number six in causes of death, and...

Young and In Debt: What Should You Do?

April 2012

Members of the so-called Generation Y are in over their heads. A new online survey by The PNC Financial Services Group shows that people in their 20s are carrying record debt, averaging $45,000 across the age range of...

Financial Planning Indispensable When Faced With Divorce

March 2012

Divorce rates in the United States have been declining for the past couple of decades, but are still quite common. Surprisingly, divorce rates drop during economic recessions. Still, an estimated 24...

Convert highly appreciated assets into retirement income

February 2012

For those who are fortunate enough to be in possession of a highly appreciated asset – whether as a result of hard work, luck or an inheritance –talking to a tax and financial expert to discuss tax and financial...

How to Survive on a Single Income in a Two-Income World

January 2012

Learning to live on less is never easy. Sometimes it’s voluntary, like when a spouse decides to stay home to take care of children. Sometimes the decision is made for you. If one half of a couple is laid off, living...

Health insurance premiums are rising: What can you do to protect yourself?

December 2011

As healthcare costs in the United States continue to climb, premiums are on the rise. Adding to the pain, coverage is being reeled in, co-pays are going up and deductibles are creeping higher. Maximum out-of-pocket...

Social Security Benefits Increase Along With Medicare Costs

November 2011

About 55 million seniors receiving Social Security benefits and 8 million recipients of Supplemental Security Income will enjoy a 3.6 percent cost-of-living adjustment increase beginning with their...

Boomerang Kids: How to Protect Your Retirement Plans When an Adult Child Moves Back Home

October 2011

Adult children moving home after a job loss, divorce or other financial setback is an increasingly common trend. So-called boomerang kids are moving...

Is Now the Time to Invest in a Home?

September 2011

Despite all the economic uncertainty, the news for consumers might not be all bad. Short-term interest rates are low and will likely stay that way well into 2013, based on public statements...

New Study Shows Increase in Senior Financial Fraud:
How Can You Protect Your Parents’ Assets?

August 2011

Senior fraud is a serious problem. You have probably seen many examples in the news – and it can happen to you or your aging parents. A June 2011 study by...

Wells Fargo Announcement Could Mean the End of Reverse Mortgages

July, 2011

You’ve probably seen Robert Wagner or Fred Thompson in television commercials extolling the benefits of reverse mortgages. But if the trend of tumbling home prices...

The Pros and Cons of Owner Financing

June, 2011

Existing home sales are down in most regions of the United States, and the depressed housing market continues to slump even with improved job growth. Expiring tax credits are a factor in lower than expected sales, as are...

Long-term Care Crisis: Are You Prepared?

May, 2011

Individuals and families need solutions to help cope with a long-term care crisis that, according to experts, has been in the making for decades. Its long-anticipated arrival has been hastened by an economic downturn, burgeoning...

Recent tragedies highlight the need for financial disaster planning

April, 2011

Earthquakes, hurricanes and other natural disasters might seem like events that only happen to other people in far-off places. But recent events highlight the need...

New Tax Rules Make 529 College Savings Plans More Attractive

March, 2011

Prior to December 17, 2010, Americans faced uncertainty about whether the Bush tax cuts would expire at the end of the year as scheduled. But the Tax Relief...

Home Based Business Deductions Worth a Close Look

February, 2011

Did you know that more than half of all U.S. businesses are home based? These business owners are sometimes referred to as homepreneurs. Mary Kay Cosmetics and even Ford Motor Company were once businesses...

IRA Distribution Rules Change for 2010

January, 2011

Keeping up with the federal rules and regulations for Individual Retirement Accounts is kind of like keeping up with the constantly changing tax law. While the finer points are best left to financial planners to...

Cost-Basis Rules Strengthen Reporting Requirements

December, 2010

Based on a new tax law that takes effect in 2011, nowis the time to become familiar with cost basis. Although inaccurate reporting can lead to dire consequences, the new law has as much to do with improving the...

Reverse Mortgages: Easy to get, but worth the price?

November, 2010

Every so often, the topic du jour for financial planning is the reverse mortgage, especially when interest rates are low and older people find themselves in need of easily attainable sources of...

When Someone Dies, Who Pays the Debt?

October, 2010

Although no one likes to think about end-of-life issues, it’s always best to educate yourself on the fine points of estate planning to ensure a smooth transition for...

How to Teach Your Kids About Money

September, 2010

Older generations were taught to save for a rainy day but the concept of saving for a rainy day or for an emergency or for anything unforeseen was lost on the younger generations. If your children are at a learning age......

Wall Street Reform Reveals Complex Nature of Regulation

August, 2010

With the July enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the financial reform debate moves from Pennsylvania Avenue to the offices of the regulators. Although the Act establishes...

Homeowner's Insurance - Are You Really Covered?

July, 2010

As a homeowner, you probably do everything you can to protect your home, from taking care of maintenance items to locking the door when you leave, but how often do you check the...

Life Insurance - How much is enough?

June, 2010

Do you have a family that depends on you? If so, you probably need life insurance. But exactly how much do you need? The answer depends on numerous factors, but primarily this is based on your...

Managing your business by the numbers

May, 2010

Just about any accountant you talk to will stress the importance of timely financial information in managing your business. Your balance sheet and income statement can tell you a great deal about the health of...

How Health Care Law Will Affect Your Financial Planning

April, 2010

Now that President Obama has signed sweeping health care changes into law, every American needs to determine how the new rules might affect their financial planning. Many...

The Roth Conversion - Take a Closer Look

March, 2010

This year, there is plenty of buzz over converting traditional individual retirement accounts to Roth IRAs, and rightfully so. This is the first year that higher income earners can convert to a Roth IRA and...

Plan Ahead to Avoid the Stress of Caring for Children and Parents

February, 2010

Caring for elderly parents is nothing new, but with longer life expectancies that commitment grows exponentially. In addition, the delay of starting families until careers are well-established has only...

Tax Organizers - Friend or Foe?

January, 2010

If you use a CPA to prepare your taxes, you are no doubt looking forward to the arrival of your annual tax organizer. In case you forgot, that is the package we send to help you gather your tax information. While many...

Prepare now for the New Year

December, 2009

"Out with the old and in with the new," or at least that's how the saying goes as we approach the end of the year. Some of the new tax rules could be truly exciting, so letÂ’s...

Alternative investments sometimes worth the risk

November, 2009

I recently overheard a cyber security expert and his friend discussing the vulnerability of our financial system to a cyber attack, and the conversation raised...

Who Is Your Adviser?

October, 2009

According to the Federal Reserve, it looks as if the recession is over. Whether thatÃ‚Â’s true or not, the stock market seems to be rebounding after last yearÃ‚Â’s debacle. The Dow Jones Industrial Average (DJIA)...

Annuities - Sheltering Your Nest Egg

September, 2009

Both 2008 and 2009 were tough years if you rely on a fixed income and investments to pay the bills. While 2007 was a relatively good year, 2008 began with market declines that led to a disaster by the...

Need Money Fast? - Don't Fall for a Scam

August, 2009

The past 24 months have been tough for homeowners. Between the resetting of adjustable rate mortgages and a sour economy that's cost millions of jobs, borrowers' needs for cash have multiplied. ItÂ’s only...

Can't Afford a Vacation? - Maybe Uncle Sam Can Help

July, 2009

The year 2009 will go down as a poor one for the hospitality industry because Americans are finding it hard to afford vacations. With the high cost of transportation, meals and all the other activities...

Is Estate Planning Really Necessary?

June, 2009

In 2001, President George W. Bush signed into law a plan to eliminate the Federal Estate Tax in 2010. There was only one catch – it would resurface in 2011. Since the passage of that plan, there have been numerous attempts to make the repeal...

Qualified Domestic Relations Orders - Don’t Blow a Money Saving Tactic

May 2009

Divorce is one of those events in life that is an unpleasant topic at best. Between the emotions, property issues, and custody issues, the pain is often excruciating, but don’t let that keep you from fully protecting your...

Credit Counseling – Salvation or Scam?

April 2009

Over the last two decades, consumer debt has been skyrocketing and so have the fortunes of the ‘so-called’ consumer credit counselors. How many times a day do you see an advertisement...

Budgeting for a Nation – Implications of the 2009-2010 Budget

March 2009

Over the years, we have looked at the effects of a family’s budget on their financial well being, but we haven’t focused on the effects that governmental budgets have on us. With the presentation of President Barak...

Who Is a Taxpayer to Believe?

February 2009

Now that February is upon us, most taxpayers should be receiving their Forms W-2 and 1099. To many, that means it’s time to get Turbo-Tax or some other tax preparation software and prepare their returns. Truthfully, this is probably a...

Out With the Old?

January 2009

Happy New Year!
Welcome to 2009. With the New Year come new challenges and what challenges they are! The economic downturn and recession (or whatever you may want...

Investors and the Year End Tax Trap

December, 2008

In a perfect world, the typical mutual fund would have increased in value by 12% and thrown off capital gains dividends of, say, 12% this year. This, of course, is purely hypothetical and the fact is that the world in 2008 has been anything but...

Protecting Your Nest Egg

November 2008

According to some estimates, retirement accounts have lost over $2 trillion in value over the last year and there is no question housing values are down. Most recent reports show the U.S. economy contracting in the third quarter of 2008 and many pundits...

Developing A Family Budget

October 2008

It's no secret that the U.S. economy is going through a great deal of upheaval these days. With the government taking control of the two largest funders of home mortgages, and major Wall Street players...

How Good is Your Team?
Building The Right Financial Team

September 2008

It’s official: according to the ESPN, AP and USA Today polls, Georgia is the team to beat this year. The interesting thing about these polls is that they’re guaranteed to change multiple times...

Veterans Benefits Could Help Defray Eldercare Costs

August 2008

If you are a military veteran, you have the sincere thanks of this writer. Your courage and sacrifice has preserved this nation in its darkest times and has not gone unnoticed. Unfortunately...

Controlling the High Cost of Fuel

July 2008

This space is not typically taken up with discussions of automobiles and gasoline, but these are not normal times – at least for motorists. With...

Get Value from Your Life Insurance…
Without Dying

June 2008

Have you ever thought it would be nice to enjoy the benefits of a life insurance policy before the insured’s death? Sometimes, these insurance policies are no longer needed. Perhaps you bought...

A Few Ideas for Your Stimulus Check

May 2008

If you are among the 100 million plus Americans slated to receive an economic stimulus check this year, you will be faced with a decision that will have a direct effect on the U.S. economy. Perhaps...

Is An Equity Index Annuity for You?

April 2008

The current volatility of the stock market has many clients seeking safety for their retirement nest egg. At the same time, they are not content with the low yields typically offered by more stable investments...

The Reverse Mortgage – Five Years Later

March 2008

In February 2003, we discussed a mortgage product that was gaining favor in the marketplace – the reverse mortgage. Although the product had been available since 1961, only 18,079 such loans were filed...

Maximize Your Retirement Savings

February 2008

With 2008 now in full swing, it’s time to make sure you are maximizing the amount you put into your retirement savings. On that subject, this month we...

Last Minute Relief for Cash Strapped Homeowners

January 2008

As a Christmas gift to middle class taxpayers - and those who have been hit hard by sub-prime mortgage woes - Congress passed, and the President signed into law, several last minute bills aimed at helping these...

Last Minute Gift Giving Ideas

December 2007

In case you haven’t noticed, we are once again into the season of giving. Yes, that’s right - the holidays are upon us - and just about everyone is in a generous mood. With all this good will...

New Vehicle - Should You Buy or Lease?

November 2007

Are you in the market for a new vehicle? If so, you know there are many considerations when making such a substantial purchase, not the least of which is how you will finance...

Finding the Right Homeowner’s Insurance

October 2007

What is the most important place on earth to you? Is it your office or maybe the football stadium? Could it be where you worship or perhaps where you live? If this writer had to guess, I’d say your home would have to...

Power of Attorney
Is it really necessary?

September 2007

Nobody likes to think of his or her own human frailty, but the sad fact is that most of us are just one second away from a debilitating illness or injury. While losing the...

Trust the Government to Help Disabled Relatives?

August 2007

This month, we will be talking about “trusting” the government to see to the proper care of disabled children and relatives. This won’t be a...

Keep the IRS from Being the Only Winner in Your Divorce

July 2007

According to most experts, living through a divorce is like living through the death of a loved one. It is no surprise, then, that many people pay an unnecessarily...

How Much Cash Do You Need?

June 2007

With a hot stock market, it’s hard to think about keeping much of your money in low-yield savings vehicles, but building an emergency cash fund should...

Your Credit Score-
More Important than You Think

May 2007

How often during the day to you hear about credit scores? It seems you just can’t get away from the advertisements. Whether in the car, watching television or on the computer,...

Purchasing an Annuity?
Get the Facts First

April 2007

One of life's greatest challenges is saving enough for retirement. If you are lucky, your employer offers some form of retirement plan. Additionally,...

Early Distribution of Retirement Funds - Without the Penalty

March 2007

Ask most people with an IRA or qualified retirement account what happens if they withdraw funds early and they will probably tell you they'll have to pay a 10%...

Waste Not, Want Not

February 2007

When you hear the phrase "financial planning," what thoughts pop into your mind? Do you think about a savings plan - or perhaps following a monthly budget? Maybe...

Happy New Year!
Now, Let's Get Down to Business

January 2007

It's the New Year and with it comes many changes that may affect your financial future. This month seems like a perfect time to make sure you have the right...

It's the Season to Give
(And Also to Steal)

December 2006

Happy holidays, everyone. The next month is perhaps the most exciting time of the year. With the office parties, open houses, holiday shopping and, of...

Life Insurance - How Much is Enough?

November 2006

You are young, single, and carefree with no dependents. Do you need life insurance? Suppose you are married with two children - does that affect your life insurance...

Sharing Your Wealth

October 2006

The United States Congress recently presented those of us with a philanthropic bent a gift of sorts. It gave donors the ability to donate up to $100,000 in funds from an...

Homeowner's Insurance - Are You Really Covered?

September 2006

On August 29, 2005, almost 1,200 lives were lost to Hurricane Katrina. Since that time, the United States Congress has approved spending $122 billion in the Gulf Coast recovery...

Kids and Money

August 2006

Let’s face it, sooner or later, that cute little cherub in the crib will be an 18-year-old heading off to college. Four years after that, hopefully the little angel will graduate, but...

Cashing in on Home Sweet Home

July 2006

Are you looking for a way to increase your liquid assets? What if there was a relatively painless and tax-free way to add to your investment portfolio without eroding your...

Make the Most of Your College Dollars

June 2006

Whether you are an incoming college freshman, a returning student, or just the First National Bank of Mom and Dad, now is the time to start preparing...

Financing Your Home

May 2006

Well, you’ve done it now. You’ve gone out and found the house of your dreams. It’s got just the right number of rooms, square footage and it’s in a great...

Making the Most of Your Business

April 2006

Many years ago, you started your business. You worked hard, made a name for yourself and your business and now it’s time to slow down. Perhaps you have children...

How's the Company Doing?
What Management is Supposed to Tell You.

March 2006

The main purpose of an annual report is to tell you how your investment is doing. A company's annual report does this in several ways. The first is obviously...

Anatomy 201 - Why Are They Telling Us This?

February 2006

Last month, we began talking about the Annual Report; that magical and mystical report you get from every public company in which you own stock. It’s the...

Anatomy 101 -
The Magical Annual Report

January 2006

In Willy Wonka and the Chocolate Factory, Willy Wonka opens the door to his Chocolate Factory and takes his guests on a magical tour. Along the way, there are traps...

Energy Conservation Can Pay Big Dividends

December 2005

After facing this year’s high utility bills, there can be little doubt that energy efficiencies in your home can mean big savings on utilities. To that...

Investor Protection
(Who Protects the Average Investor?)

November 2005

Government regulation is the theme of this month’s articles and so far we have looked at regulations in the form of tax law and regulations covering...

Philanthropy with a Twist
Making Your Travels Count

October 2005

Have you ever gone to a management retreat for, say your local church, educational or other 501(c)(3) group for which you paid all your expenses? Food, lodging,...

Financing Your College Education -
Talk About a Huge Cash Outflow

September 2005

This month, we have been talking about cash outflows. In other words, the feeling you get each pay period when the bills are higher than your income. If you have...

Is a Credit Union for You?

August 2005

Have you ever heard a friend talk about getting a better loan rate from their credit union or perhaps getting a higher return on their savings account from the credit union than the...

Buying a New House
Are you buying a home, investment or headache?

July 2005

This month is property tax month. Unfortunately, when it comes to financial planning, property taxes are not the biggest financial planning consideration. So, we...

Not All Financial Planners Are Alike

June 2005

Most folks think of words like @##*!*and similar words unfit to be included in this article as bad four letter words and you’ve got to admit,...

Getting Personal About Energy

May 2005

You might find it a bit odd to be reading about energy costs in a financial planning article, but when you think about it, the costs of home utilities and gasoline for your vehicles are...

Spending Your Refund on a New Car?
Are you sure that's wise?

April 2005

Disclaimer The following article is not intended to induce the reader into purchasing, leasing or "borrowing" a new...

Looking Out for Number One

March 2005

Thus far in our financial planning articles, we have touched on investments, disability and life insurance, health insurance, estate planning and numerous other...

This Is Your Last Chance!
Saving Your Money for Better Uses

February 2005

If you’re reading this article, it’s a fair bet that you have encountered that high tech scourge of humanity known affectionately...

The Worth of a Child

January 2005

One of the prime goals of many young couples is to eventually have children. After all, it’s one of the reasons for marriage and, let’s face it, most of us...

Just a Friendly Reminder

December 2004

It’s hard to believe, but we’ve come to the end of another year and what a year we have endured. What with the presidential campaigns and other political...

The Third Time is a Charm
(Washington's October Surprise Part 3)

November 2004

In our tax and general business articles this month, we discussed in very general terms the fact that Congress passed three major bills in 2004 that the President...

Check 21 - There Goes the Fun of Cash Management!

October 2004

For many, the college years were a fun, if stressful, time. Remember the thrill of writing a check for books knowing the money wasn’t in the bank, but would be in two days. That...

Eliminate Credit Card Debt?
(Read the Fine Print)

September 2004

It seems as though you can’t turn on TV, listen to the radio or check your e-mail these days without being accosted by ads promising to save you from the credit card/consumer debt monster. Getting ready for...

Deadly Life Insurance Mistakes

August 2004

Not too long ago, a worried and angry gentleman walked into our office. It seems as though he had been provided a great opportunity by an insurance agent acquaintance - a sort of "have your cake and eat it...

It’s My Money and I’ll Withdraw it if I Want To!

July 2004

Before we begin this article, we need to start with a disclaimer. Never, ever, and we mean never try to withdraw money from your retirement if you are under 59 ½ years old. Between taxes on the income you receive...

Maintaining Control of Your Estate

June 2004

An elderly man walked into a CPA’s office one time and asked for estate planning advice. After a few preliminary questions, including the size of the estate, the CPA asked about heirs. The client mentioned...

The Golden Years?

May 2004

Happy birthday and congratulations! You have successfully maneuvered through the tricky waters of life and now you've reached retirement age, whatever that may...

Is it Party Time Yet?

April 2004

Let’s see, how does that old song go - "Happy days are here again..." In the space of three short months, we have taken you through your first job...

Children - The Best, and most expensive, Investment You Will Ever make

March 2004

Up until this month, our financial planning articles have been focusing on you and, perhaps, your spouse. This month, we are going to complicate your hypothetical life just a little more by...

Still Young, But Not So Care Free

February 2004

Happy Valentine’s Day to all you happy couples! Valentine’s day holds a special meaning to our topic for this month - financial planning for the young couple. Valentine’s Day is the day we show our spouses how much we...

Young and Carefree
(Financial Planning for the Young, Single Person)

January 2004

Welcome to 2004! We hope you will accept our good wishes that you will have a wonderful new year. We are certainly going to do our part to help you along on the path to a successful year and one of the...

Survival 101 - A Guide to Surviving Christmas

December 2003

As a young child growing up, I never could understand why my parents seemed so edgy and anxious around the Christmas Holidays or as many put it these days, the Holiday Season. For us kids, it was a great...

Resolve to Be Fair to Your Family

November 2003

Unfortunately, it sometimes takes a terrible tragedy to remind us all to do the right thing. Recent events in the news have done just that for many of us in the financial...

Gotcha Covered!

October 2003

This month, we’ve discussed the tax implications of personal injury awards and a business’s need good attorney. Much of what we said regarding a business also applies at the personal level. While we hope...

All Dressed Up and No Way to Pay

September 2003

There you are, all dressed up in your graduation gown, marching down the aisle, and preparing to receive your high school diploma. As you sit there, you reflect on your...

Are the Good Times Over?

August 2003

If you haven’t received at least one offer for a 3.79% mortgage in the last month, chances are you haven’t opened your e-mail lately. Even if you do have a really great spam killer, I honestly...

What Do We Do Now?

July 2003

Life used to be simple. Let’s see, from a tax perspective, long-term capital gains were good, dividends and short-term capital gains were bad, tax-deferred savings were attractive so...

Are Your Funds Loaded?

June 2003

There have been many debates down through the ages. Questions like "What came first, the chicken or the egg," "What’s the meaning of life," "Who shot J.R.," and similar...

Our Cap's Off to You!

May 2003

There's no two ways about it; somewhere, sometime, you will run into about a million terms that mean absolutely nothing to you when you start...

Go Ahead, Be an Armchair Quarterback!

April 2003

Are you an armchair quarterback; how about a backseat driver? I don’t know about you, but I have been accused of being on or the other numerous times...

Navigating the Annual Report Maze

March 2003

Harry Potter may be big, but there is an even bigger series coming in 2003. There will be millions printed and, better yet, they’ll come to you for...

Home Sweet Home

February 2003

There is an insidious malady making it’s rounds throughout this country. If you live long enough, you, your parents and grandparents will suffer from...

Expecting the Unexpected: Building Your Safety Net

January 2003

Are you prepared for an emergency? Or an unexpected job loss in your family? A recent survey found that 40% of Americans are not prepared for...

Fee-only Life Insurance Advisers... Check Them Out!

November 2002

Life insurance comes in a bewildering array of choices. For a lot of people, simple term coverage will suffice: It’s cheap, and you buy it only when...

Check Your Credit... It's Important

October 2002

Credit dominates our finances. The latest statistics show that as a nation we are carrying record-high installment debt, especially on credit cards. The national average is approximately...

A Net Worth Statement May Help You Reach Your Goals

September 2002

You may have already determined your financial goals, but do you know how to achieve them? Before developing a strategy, you need to compile a net...

Employees in Transitions. What to do with Retirement Plans?

August 2002

With individuals increasingly becoming responsible for their own retirement savings, its critical to know how best to protect plan assets during...

Do Mutual Funds Matter?

July 2002

Despite a bear market that experts say began last March and might continue for at least another year, compounded by a shaky economic outlook following...

College Planning Basics

May 2002

The high cost of college education leaves many families wondering how they can afford a college education for their children. The Economic Growth...

Benefit From Your Benefits!

April 2002

The radio blares out, “Miracle medical breakthrough! Live to be 150 years old,” and you think, "Now, that can’t be true!" Wait a minute!...

Identity Theft – Is It Really That Bad?

March 2002

Imagine the following scenario: Last year, your one-year-old son died of a terminal disease. A year later, not too long after the first anniversary...

Will Your Will Stand the Test of Time?

February 2002

Several years ago, you met with your lawyer and created your last will and testament just the way your CPA told you to. You set up a trust to hold...

Section 529 Plans Revisited

January 2002

It’s a good thing that most of us don’t worry about financing our children’s college education before we decide to have them. If we did think about...

Are You Running Out of Room?

December 2001

...

A Familiar Question

November 2001

...

Silver Linings

October 2001

...

Too Good To Be True? Probably!

September 2001

We've all heard something like, income taxes are not constitutional or since we have a voluntary tax system, I choose not to volunteer. Well, so has the IRS and recently the IRS Chief Counsel put out a...

Need Help With the IRS? File 911

August 2001

...

Make Hay While the Sun Shines

July 2001

...

No Estate Tax? Really?

June 2001

It's official, and the current President Bush can indeed say, "Read my lips. "NO MORE DEATH TAX."...

Isn't It About Time You Got the Credit?

May 2001

...

Just Wait Until Your Father Comes Home!

April, 2001

...

Well, what will it be?

March, 2001

...

Saving Money the Old-Fashioned Way

February 2001

...

Online Banking - Making Your Life Easier?

January 2001

Let's see - first came the ATM, then you could get your bank balance and transfer funds over the telephone and now - now you can do just about anything over the internet that the teller used to do. Is this good,...

So What if I Live Forever?

December 2000

...

A New What?

November 2000

...

Family Fun

October 2000

...

Do You Know How Well Your Mutual Fund Has Done This Year?

September 2000

...

You Plan Your Day...Why Not Your Life?

August 2000

...

Insure? Be Sure!

July 2000

...

How to Make Your Kid Pay For College

June 2000

...

Social Security Tax Relief

May 2000

Senior Citizens' Freedom to Work Act of 2000...

The 529 College Savings Plan is Available to You

April 2000

No matter what state you reside, the 529 Plan is available to you. If you have children, you need to learn about this great opportunity....

The Roth IRA

March 2000

Do I qualify for a Roth IRA? Find out before April 15th....

There is No Excuse for Not Having a Will.

February 2000

You worked hard for your money; make sure it ends up in the right hands....

Determining Your Retirement Benefits and Social Security

January 2000

Watch your mail box for a letter from the Social Security Administration informing you for the first time of what you are due to receive from your Social Security benefits....

Tax Traps in Retirement and How to Avoid Them

December 1999

Costly mistakes in handling your retirement can be avoided by simply understand the rules that apply....

FYI American IRA owners, all 31 Million of You!

November 1999

Key factors you need to know before making an IRA part of your estate plan....

Today's Stock Market? Alternative Investments

October 1999

The stock market roller coaster has professionals recommending alternative investments....

Mutual Fund Trading Pretax & After Tax

August 1999

Mutual Funds are a good investment choice for after-tax returns but be sure that you get complete and accurate information before you make an investment decision....

Smart Ways to Give to Your Family

July 1999

Learn how to give to your loved ones and not accumulate more assets for the IRS than for your family....

Risks of Employee Stock Ownership

June 1999

A growing number of employees find themselves with extensive holdings in their own companies' stock but most are not aware of the risk factors involved. The International Association for Financial Planning has issued a Critical Issues Report, entitled Ho...

Tax Cuts for Workers with Term Life

May 1999

Workers whose employers offer group term life-insurance coverage will receive a tax cut according to a plan unveiled earlier this year by Treasury officials....

In the Age of No Tax Shelters They Still Exist

April 1999

According to Mr. Laurence Foster, CPA/PFS, many opportunities still remain for taxpayers even though the exotic tax shelters of years past have been abolished by Congress....

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Resources

Marc Wasserman CPA