Archive - June 2011

1
Fee-Only Financial Planners Help You in Three Ways
2
The Best Investment Books to Read This Summer
3
Does Your Required Minimum Distribution Have To Be In Cash?
4
7 Ways To Get the Most Out of Your 401k
5
Don’t Look Now, But You Got a 2% Raise This Year!

Fee-Only Financial Planners Help You in Three Ways

Life is increasingly complex particularly in the area of finance. There are changes in taxation, governmental regulations, mortgages, credit, insurance, education funding, and the stock market domestically and abroad. Social programs such as Medicare, Social Security, and pensions are undergoing change, which can impact your future.

Given all these changes, making good financial decisions is increasingly difficult. Working with a fee-only planner can help you make better financial decisions and balance current needs with future goals. The result can be financial peace of mind.

A fee-only planner does not sell investments or insurance. You pay for advise by the hour …

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The Best Investment Books to Read This Summer

Memorial Day Weekend marks the unofficial beginning of summer so I thought for this next posting, it would be fun to share a few books that are on my own summer reading list this year: 

 

1) The Investment Answer by Daniel Goldie, CFA, CFP® and Gordon S. Murray discusses the basic financial tenets of having a diversified portfolio, using fee-only advisors, rebalancing regularly, avoiding active management, and investing for the long-term.  Although familiar advice, critics have praised the book for the clear, accessible language in which it was written and its simple message. 

The idea for the book came as

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Does Your Required Minimum Distribution Have To Be In Cash?

Here’s something that I bet you’ve never run across – when you have to begin taking Required Minimum Distributions (RMDs) from your IRA or Qualified Retirement Plan (QRP), most folks think you must take these distributions in cash.

This is not the case, you can actually take distributions of any sort, not just RMDs, from your plan (IRA or QRP) in either cash or “in kind”.  By “in kind”, this means that you can take the actual securities (stocks, bonds, or other investments) from the account.  These distributions in kind can be used to satisfy your RMD for the year.  …

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7 Ways To Get the Most Out of Your 401k

If you’re like most Americans, you don’t have enough saved in your 401(k)or 403(b) plan to cover more than a few years of retirement expenses. Average retirement plan balances typically are no more than 1 or 2 years times average annual income….woefully inadequate to cover a 25+ year retirement period. Social security was never seen as something that could plug the hole left by insufficient 401(k) or 403(b) plan balances.

However, the 401(k) and 403(b)retirement landscape is rapidly changing so it’s not too late to squeeze more juice out of your 401(k) or 403(b) plan. Here are some steps to …

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Don’t Look Now, But You Got a 2% Raise This Year!

Did you realize you received a two percent raise in January? How can this be? You say your boss would never give you a raise. Well this take home pay increase didn’t come from your boss…..it came from the federal government.

In Late December of 2010, President Obama signed into law a two percent reduction in the OASDI payroll tax. Old Age, Surviors and Disability Income tax, better known as Social Security tax, is withheld from your paycheck up to the maximum yearly limit. The 2011 limit is set at $106,800.  The change reduces the amount of tax withheld from …

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