How Do I Build Credit?
The catch-22 of credit for young adults is that you can’t get a credit card because you don’t have a credit history but you can’t build credit because you can’t get a credit card!! And in today’s world, credit cards are a fact of life. You need a credit card to do a number of […]
Elder Abuse & Exploitation
Elder abuse is an important subject and rapid problem in society today. 1 in 10 Americans over the age of 60 have been a victim of some type of elder abuse. Abuse is defined as the infliction upon an adult by self or others of injury, unreasonable confinement, intimidation, or cruel punishment with resulting physical […]
What Is Account Aggregation?
What is it? Account aggregation is exactly what the name implies. It allows for individuals to see their entire financial picture on a single screen by compiling information from thousands of financial institutions. As many people today have accounts across multiple institutions, this tool has become more and more popular. It also helps with keeping […]
Creating a Sound Financial Plan
Financial planning is a popular topic these days. It’s hard to turn on the TV or get online without seeing an advertisement for some type of financial planning service. People have different perceptions of what a financial plan is and whether they need to hire an expert to assist them with a plan. The truth […]
Preparing Your End of Life Plan
We all know by now that we ideally should have a financial plan to guide us through our earning years so that when we finally arrive at retirement’s doorstep, we can live comfortably and worry-free. However, our work is not quite finished yet. While retirement for some can last 30+ years, one never knows when […]
Tax Strategies for Charitable Donations
This time of year we are more apt to count our blessings and give some of what we have harvested to others in need. One of the most popular charitable income tax breaks of the last several years is the ability for those age 70 ½ or older to make charitable gifts of up to […]
Recent Changes in Filing FAFSA Form for Financial Aid
In September, President Obama signed an executive order implementing some important changes to the financial aid process including a couple of changes related to the filing of the Free Application for Federal Student Aid (“FAFSA”) form. The first change is the date to file the FAFSA form. The date has been moved to October 1st, […]
Lump Sum versus Fixed Annuity Payments
Determining whether one should take a lump sum payment from your company pension plan or defer those payments by receiving annuity payments over your life can be a difficult decision. This is a decision many soon-to-be retirees may face if their employer has funded a pension or annuity for you during your career. When faced […]
Longevity Insurance and Qualified Longevity Annuity Contracts
Longevity insurance, commonly referred to as a longevity annuity, is a deferred income annuity. Deferred annuities promise to pay a specific monthly income amount for life beginning at a future date in exchange for an immediate lump-sum premium payment. However, up until recently, they were not as attractive to purchase with qualified retirement plan funds […]
The Basics of Investing in a Roth IRA
As a wealth manager, we get asked a common question all the time: “Where should I be saving my money?” In our opinion, there are three potential buckets to put your money – taxable dollars, tax deferred dollars, and Roth IRA dollars. Each bucket has different rules associated with it and each has its own […]