Archive - 2017

1
Giving Money to Adult Children May Derail Retirement Planning
2
Retirement Accounts: keeping the advice sane and safe
3
Tax Refund Myths Debunked
4
Don’t Give Up on Estate Planning
5
How to Successfully Manage Your Financial Life When You’re Not Financially Savvy

Giving Money to Adult Children May Derail Retirement Planning

In “Reopening the Bank of Mom and Dad, to Help Adult Children,” The New York Times offers cautionary tales and advice for parents who help adult children that don’t earn enough or have some kind of financial emergency. Even Baby Boomers who have done retirement planning may not have seen the needs of their adult children on the horizon. The desire to help adult children can derail the financial planning they have put in place. Many parents say they would not want to be a financial burden on their children but that is what can happen when parents …

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Retirement Accounts: keeping the advice sane and safe

When my daughter and I were at the Women’s March, I saw a number of signs saying I can’t believe I’m still protesting this sh*t (and they didn’t have an asterisk). I feel that way too, and I also feel that way concerning the fiduciary rule for retirement accounts. In fact, I can’t believe we’ve EVER needed to discuss this. The fiduciary rule was set to go into effect on April 10th of this year, but the so-called current administration has issued an executive order on February 3 delaying the order until—who knows?

What’s fiduciary?

The fiduciary rule is …

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Tax Refund Myths Debunked

Recently the IRS published a Special Edition Tax Tip which debunks some very common myths about your income tax refund. You may find some of these surprising. These myths are pervasive and can lead you astray if you believe them. In my experience the information in the Tip below is great advice for finding information about your tax refund.

The complete text of the Tip (IRS Special Edition Tax Tip 2017-02) follows below:

IRS Debunks Myths Surrounding Your Tax Refund

As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic …

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Don’t Give Up on Estate Planning

Is Estate Planning Dead?” voices a question some have asked in light of reports that before the election, the incoming president-elect was considering ending what he referred to as the “death tax.” Just as we discussed in “Think Before Changing Investments Because of an Election,” you need to think about abandoning sound financial practices based on what you hear about politics. Changes that may affect your financial planning are on the horizon but you don’t know just what will change. If you move money or alter your estate planning in anticipation of a law changing, you may …

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How to Successfully Manage Your Financial Life When You’re Not Financially Savvy

Distracted. That’s one adjective we’ve all used to describe one another in America today. Technology has made it easier than ever to put information right at our fingertips. This created access to an unlimited amount of information, but also a certain amount of confusion. Tech breakthroughs claiming to solve your latest road block seem to happen daily, and marketers are doing everything they can for just five seconds of our attention. With all of this unlimited information competing for our attention, many people have not taken the time to learn the basics of successfully managing their financial life.

This is …

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