Archive - July 2019

1
Deciding When to Claim Social Security Isn’t a Guessing Game
2
Inherited 401k plan
3
Financial planning for college: should you bother saving?
4
Spending on Little Luxuries Can Add Up…to More Happiness
5
The Earnings Test is Specific to the Individual

Deciding When to Claim Social Security Isn’t a Guessing Game

Jul 16 2019
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Claire Emory, MBA, CFA, CFP® All posts from Claire Emory, MBA, CFA, CFP®
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The summation of a Bloomberg article that states that many Americans opt to receive Social Security benefits at the wrong time may be confusing: “Most retirees should wait longer to access their benefits, researchers find. Some should claim them sooner.” Why does this advice seem to be contradictory? Because there is no one rule for claiming […]

©Bring Clarity to Your Finances™. Deciding When to Claim Social Security Isn’t a Guessing Game is a post from Bring Clarity to Your Finances™

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Inherited 401k plan

Jul 15 2019
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[email protected] (Jim Blankenship) All posts from [email protected] (Jim Blankenship)
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Distributions for an inherited 401k plan can be complicated, because there are many factors to consider – your age, the age of the original owner, etc.

The post Inherited 401k plan appeared first on Getting Your Financial Ducks In A Row.

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Financial planning for college: should you bother saving?

Jul 09 2019
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Danielle L. Schultz, CFP®, CDFA

Danielle L. Schultz, the principal financial planner of Haven Financial Solutions, is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a NAPFA-registered Financial Advisor, and a Registered Investment Advisor in the State of Illinois. She studied financial planning at Northwestern University’s Certified Financial Planner™ certification program. She also holds a Series 65 license (Registered Investment Advisor Representative) and a CCPS (Certified College Planning Specialist).

She writes a regular column for Better Investing magazine and is currently working on a revision of their mutual funds handbook. In addition to academic training and professional experience, Ms. Schultz has personally managed Social Security, Medicare, retirement and long-term care issues; college funding concerns; and cash flow and transition planning in self-employment and divorce situations. Her social work background gives her an innovative perspective on financial planning issues; for her, financial planning is not only about money, but also a key component in a satisfying and well-lived life.

All posts from Danielle L. Schultz, CFP®, CDFA
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Nobody wants to pay for something, then watch someone less deserving who gets it for free. A dear friend recently raised this situation: are you a sucker for saving, while somebody else spends freely and their kid gets more money from a college? I’ll give a very qualified yes to this—there are a few situations […]

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Spending on Little Luxuries Can Add Up…to More Happiness

Jul 09 2019
Browse archives for July 09, 2019
Claire Emory, MBA, CFA, CFP® All posts from Claire Emory, MBA, CFA, CFP®
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In “The Personal Finance Industry is a Scam,” a writer for GQ discusses her thoughts on why “Suze Orman’s rant against coffee is the latest in cable-news advice that puts the blame for an increasingly unequal financial system on individuals.” The writer recalled meeting Orman years earlier as an unpaid intern saddled with heavy law school […]

©Bring Clarity to Your Finances™. Spending on Little Luxuries Can Add Up…to More Happiness is a post from Bring Clarity to Your Finances™

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The Earnings Test is Specific to the Individual

Jul 03 2019
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Jim Blankenship, CFP®, EA

Jim Blankenship is the founder and principal of Blankenship Financial Planning, Ltd., a financial planning firm providing hourly, as-needed financial planning and advice. A financial services professional for over 25 years, Jim is a CFP professional and has earned the Enrolled Agent designation, a designation that qualifies him as enrolled to practice before the IRS. Jim is also a NAPFA-registered financial advisor, which designates him as a Fee-Only Financial Advisor.

An IRA Owner's Manual
A Social Security Owner's Manual

All posts from Jim Blankenship, CFP®, EA
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This topic comes from a reader, J., who asks the following question: My wife is 62 and she works a part-time job earning around $23k per year. She is planning to retire in June, and so her total earnings for the year will be approximately $11,500. She would like to begin taking Social Security benefits right after her retirement. The question is this:  will her earnings test be based upon her “individual” earnings, or on the higher combined earnings of the two of us (I am still working, earning in excess of the earnings test amount)? Since her earnings of approximately $11,500 are under the $17,640 earnings limit, her earnings would not be reduced – but if the earnings test is based upon both of our earnings combined, her earnings would definitely be reduced. How does this work? My Response Each person’s earnings record is specific to that individual – […]

The post The Earnings Test is Specific to the Individual appeared first on Getting Your Financial Ducks In A Row.

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