Archives for Financial Planning

7 Tips to Resolve Financial Issues Between Couples

No matter how long you have been together, financial issues can wreak havoc on a committed relationship. According to Investopedia, some of the top money issues between partners include money/personality style clashes, debt, personal spending, children, and extended family differences. When couples don’t agree about spending and saving habits, it can lead to stress, arguments and resentment. Here are seven ways you can address financial issues positively, preferably before they arise. Understand Your Money Styles Think of some extreme examples of money styles in your circle. Like your friend, the foodie, who won’t touch a bottle of wine that costs
Read More

Categories: Financial Planning.

Your Annual Financial To-Do List

Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices. Here are a few ideas to consider:   Can you contribute more to your retirement plans this year? In 2021, the contribution limit for a Roth or traditional individual retirement account (IRA) is expected to remain at $6,000 ($7,000 for
Read More

Categories: Financial Planning.

10 Reasons You Need a Financial Plan

October is Financial Planning Month which serves as a useful, annual checkpoint to make sure you are on track to meet your financial goals. A written, up-to-date financial plan encompasses not only investments, but risk management solutions, tax reduction strategies and estate planning. 10 Reasons You Need a Financial Plan To have one comprehensive document to address your finances. Financial planning provides one summary location for everything related to your family’s financial life. From your budget, to your savings, to your investments, to your retirement, a financial plan helps you consider your finances in a holistic manner, and gives you
Read More

Categories: Financial Planning.

How a Furlough (or Layoff) Affects Your Finances…and Retirement

  Here are six things you need to know if you or a family member has been furloughed—or laid off—from their job   A furlough is an unpaid leave of absence. You don’t report to work, you don’t get paid, and you may lose some of your benefits. Getting fired or laid off is different because it is permanent; whereas, being furloughed means your employer wants you back as soon as things get back to normal, typically at the same position and income level as before the furlough. Here are six things you should know:   Filing for unemployment Whether
Read More

Categories: Financial Planning.

Financial Vows for Money-Savvy Couples

February is a good time to celebrate your relationship with your significant other—and renew your commitment to your mutual financial success. Here are some ideas to say “I do” to this month. Vow to protect yourselves from emergencies During the government shutdown early this year we learned that 40% of Americans don’t have enough money set aside to handle even a $400 emergency. Whether you determine you want an amount equal to six months’ or 12 months’ worth of living expenses, vow to set aside an emergency fund in liquid, readily-accessible accounts so that you have adequate cash on hand
Read More

Categories: Financial Planning and Uncategorized.

Managing Your Finances

We work with dozens of people to help them create retirement plans. But in order to get to a successful retirement, there are thousands of small decisions along the way. Like, should you drive through your local coffee place and grab a latte this morning? Go with the office gang for lunch at that little bistro across the street, which usually costs you around $15? Should you order pizza delivered for dinner tonight because you didn’t go to the grocery store yesterday? Grab that new shirt because it’s 50% off? Sticking to a budget is the beginning of mastering your
Read More

Categories: Financial Literacy and Financial Planning.

Who do you love? leaving a legacy.

When you see technicolor Peeps lining the grocery store shelves, you know that Spring is near and families will soon be gathering to celebrate the season. Whether you are gathered around an Easter feast or beaming with pride at a grandchild’s graduation, you may start thinking about the long-term legacy you are leaving for your loved ones. Legacy gifts can take many forms. Mementos, albums and scrapbooks, for instance. Or researching and sharing your genealogy. Or a custom cookbook that includes all the favorite family recipes. Just as important are considering the financial realities your loved ones will face without
Read More

Categories: Estate Planning and Financial Planning.

4 Tips to Get Your Finances In Order

4 Tips to Get Your Financial House in Order In addition to that rewarding tradition of spring cleaning to get your house in order, this is a great time to get your finances in shipshape condition. We offer these tips to help you. 1. TAKE A HARD LOOK AT YOUR CREDIT CARDS Even though new credit cards are equipped with computer chips that make it harder for hackers to hijack your data, it’s a good idea to check your statements to make sure there are no mistaken or duplicate charges. 2. CHECK YOUR CREDIT REPORTS ANNUALLY It’s free to check
Read More

Categories: Financial Literacy, Financial Planning, and Lifestyle.

April is Financial Literacy Month

April is “Financial Literacy Month” and one of your best financial “teachers” can be your tax return. Here are some lessons to consider: 1. AVOID A BIG REFUND OR BIG TAX BILL Does your payroll withholding amount need adjusting? That’s what a huge tax bill or hefty refund is telling you. Shoot for the middle. Themore allowances you claim on your W-4 on file with your employer, the less tax is withheld. 2. A HEALTH SAVINGS ACCOUNT (HSA) MIGHT HELP Even with health insurance, steep medical bills can accrue. Unless they total 10% of your adjusted gross income, you can’t
Read More

Categories: Financial Literacy and Financial Planning.