Happy New Year! As a financial planner I have some hopes for your 2016 to pass along. May you find joy in the free (or very inexpensive) things in life – sunsets, walks with your dog, a home cooked dinner with family, or hugging a friend. And then, take the savings from fancy vacations, dinners…
It occurred to me as I wrote the last blog that I maybe was putting the cart before the horse. File-and-Suspend strategy is pretty complex and most people don’t understand even the basics of Social Security. So, here are a few concepts that will help you speak that beautiful language that I call Social Securitese.…
I hate to say I told you so (okay, I actually LOVE saying I told you so), but as I postulated in an earlier blog, the Social Security file-and-suspend option is going away for new filers after May 2, 2016. The file-and-suspend option allows one spouse to file for his benefits at full retirement age…
The Denver Post recently reprinted a list from Kiplinger Washington Editors called “9 financial get-on-with-being-an-adult tips for your 30s.” The list included: Advance your career Rethink your budget Write Your will Pay off non-mortgage debt Save at least 15% of your income for retirement Adjust your insurance coverage Increase your emergency fund Diversify and rebalance…
Recently I was asked to contribute some personal finance articles to Triage Cancer (http://triagecancer.org/). One of the topics was about credit scores and budgeting. Being the lazy person I am, I am going to use the blog twice – once for me and once for Triage Cancer! So, what is a FICO score? The Fair…
I went to the Financial Planning Association’s annual Symposium in September. This is a great opportunity for financial planners to get new information and catch up with old friends. As usual, it was a great event and I learned lots of cool stuff. Our lunch keynote speaker was Joe Hurley, founder of the website www.savingforcollege.com.…
If you are going through or contemplating a divorce, first of all, I’m sorry. That is a terrible time for all involved. Other than custody of minor children, the biggest sticking point is how to divide assets. There are financial planners who have extra education in this area and the most recognized certification is CDFA…
This article reminded me of another reason it’s better to pay for financial advice separately from high cost investments. Front-end loads, 12b-1 fees, and annual expense ratios are not tax deductible. Financial advice such as tax-preparation fees, investment advisory annual fees, and the cost of creating a financial plan are tax-deductible. Client Education More Important…
Below are three retirement savings loopholes that may be here today, gone tomorrow. Tomorrow of course being in 10 years when legislation manages to get passed in our gridlocked government. Don’t panic, but just be aware that just because something is in the tax code today, doesn’t mean that it will be allowed forever. Back-door…
For the first time in US history, consumer spending at restaurants and bars is more than spending at grocery stores. According to the US Census Bureau and Haver Statistics, in March $50.1 billion was spent in grocery stores vs. $50.4 billion in restaurants and bars. Zagat’s 2015 Dining Trend Survey says that the national average…
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