Archive - May 2013

1
Money Mindfulness
2
Are You Tax Diversified?
3
Understanding The Fees Associated With Your Retirement Plan
4
Avoid Awkwardness In The Afterlife – Confirm Your Beneficiary Designations
5
How To Fund Your Way To College

Money Mindfulness

Money matters are complex. Investment options, taxes, interest rates, and financial transactions in general can be overwhelming for people who are not in the financial industry. Fewer than half the people in this country understand the math necessary to handle their own finances, even at a minimal level (including reconciliation of a checkbook). Compound the bewildering technical aspects of money with fear: nearly everyone reading this has been 'ripped off' monetarily at some point in their lives. Eventually, most of us understand that we should be very careful about trusting anyone else, even family members, with our money.

Even with …

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Are You Tax Diversified?

At a recent NAPFA conference in Las Vegas, a couple key note speakers said that good financial planning was a key element in retirees having a secure retirement. Obviously they may have been just trying to make all of us advisors feel good about ourselves, but they had some pretty compelling information to support the claim. One of the factors that benefited retirees that used comprehensive financial planners was tax savings. With tax loss harvesting, advanced tax deferral, and other tax strategies, financial planners were able to add value to their clients’ retirement and account values. But many of these …

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Understanding The Fees Associated With Your Retirement Plan

There’s a little secret associated with your workplace-sponsored retirement plan. Most participants think their plan is free — that it doesn’t cost them anything to join, contribute, and invest. Unfortunately, that’s not entirely true.

While employees typically aren’t charged any out-of-pocket costs to participate in their plans, participants do pay expenses, many of which are difficult to find and even more difficult to calculate. New regulations from the Department of Labor (DOL), which oversees qualified workplace retirement plans, should make it easier for participants to locate and comprehend how much they are paying for the services and benefits they receive.…

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Avoid Awkwardness In The Afterlife – Confirm Your Beneficiary Designations

This is a topic that I cover with all clients, and one that I recommend you for everyone with retirement plans and other accounts with beneficiary designations.  Too often we think we have the beneficiary designation form filled out just the way we want it, and then (once it’s too late) it is discovered that the form hadn’t been updated recently – and the designation is not what we hoped for.

I made this recommendation to a client not long ago.  He assured me that he had all of his designations set up just the way he wanted.  His wife, …

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How To Fund Your Way To College

With the cost of college rising quicker than the inflation in this country, figuring out how to save for college can be quite a task. However, college is the best investment that can be made—individuals with college degrees make twice as much, on average, than those with just high school diplomas. So, the perilous road towards saving for college must be taken. Check out the following ideas to make saving for college a little bit simpler for you:

Where to Save

Some people prefer saving their money in bank accounts as opposed to stocks. With bank accounts, though there are …

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