Wait, is Kristi telling me I shouldn’t donate money to help others? Never! I love charitable gifting and helping clients feel comfortable donating to non-profits. However, often writing a check is the least beneficial to the donor for tax savings. Consider these methods first: Donating Long-Term Appreciated Assets Gifts of long-term appreciated stocks, bonds, or…
An element of retirement income planning that never ceases to confuse is taxes. Accounting for your tax bill as a retirement expense is important. Over-or-under estimating the cost can lead to errors in a retiree’s monthly spending targets. The biggest misconception is that your marginal tax bracket is the amount you pay on all of…
When I have a captive audience of young adults, I like to ask them what concerns them about their personal financial situation. The number one answer (consider this unscientific anec-data) is how to afford a first time home purchase. First, the problem (hint, it’s NOT avocado toast) High home prices and elevated interest rates Incomes…
I am a fan of (at least considering using) reverse mortgages. Although there is some controversy from the old days where the product lacked current consumer protection, the new world of reverse mortgage is worth looking at. Nationwide data indicates that home equity can account for 50% or more of total net worth for many households…
Just when you thought you’d seen it all, a new type of scam has come up where people are impersonating financial planners. I guess impersonating police officers got too boring. You may have noticed that financial advisors’ careers aren’t cast in stone. We change firms, start firms, go into partnerships, leave partnerships, and hire new…
It feels unoriginal, but what kind of financial planner would I be to not even acknowledge the latest tax bill? There is a LOT going on with the bill (remember, it’s Big), so I’m going to focus very narrowly on the items that affect my clients’ financial plans: Social Security, tax rates, and estate provisions.…
Tariffs, world unrest, inflation, politics, actual ticks – things are going to happen, but people still want to finish their basements. A common question that comes up in financial plans is, “How can I pay for my house improvements without derailing my retirement/college goals?” Here are a few ideas: Savings: Using your own cash is…
It’s hot, you’re cranky, and you have a baseball tournament/music festival/company picnic/outdoor wedding/high school reunion/hot flash to attend. Never fear! Your friendly financial advisor has some little luxuries to help turn your roofer-sweat into an Instagram-worthy glow. Arctic Air Pocket Chill Evaporative Air Cooler: 3 speeds, tiny, cordless and rechargeable. Turning that hot flash into…
You know who stresses less about stock market volatility? People who have a financial plan. According to the Goldman Sachs 2024 Retirement Survey and Insights: 40% of people with a financial plan feel comfortable managing their savings and investments, compared to just 16% of those without a plan. 80% of individuals with a financial plan…
Occasionally people ask if they should have their adult children sit in on their retirement planning appointments. While I am all for meeting the whole family, the answer to this question depends on your situation. For some, letting Junior know that there is wealth at the end of the parental life rainbow might leave them…
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