Author - jim@blankenshipfinancial.com (Jim Blankenship)

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Reasons #12 & #35 That You Might Need A Financial Advisor
2
Transitioning to a Financial Planning Career
3
Exemptions and Dependents for 2017 Tax Returns
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New Deadline for Rollover of 401k Loan Distributions
5
Best and Worst States for Retirement Finances

Reasons #12 & #35 That You Might Need A Financial Advisor

Bob Dylan might need a financial advisorTrying not to be self-serving with this – I am, after all, a financial advisor.  The point of this post is to explain that, in spite of all of the negative press that folks in the financial advice-giving business often receive, there are still very good reasons you might need a financial advisor on your side.  You definitely need to make sure you’re been careful about choosing the advisor. There are plenty of articles to help you find one when you need a financial advisor.

The Basics

As I’ve mentioned here before on several occasions, there are three primary things …

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Transitioning to a Financial Planning Career

Every once I a while I will be asked to give my opinion on some logical steps to take when pursuing a financial planning career. This post may be beneficial for individuals who are entering the financial planning profession right out of college or are looking to change careers. Some are steps to take and others are questions to ask yourself and others along the way.

  1. What is it about financial planning do/would you enjoy? It could be client-facing meetings, technology, back-office work, or a combination. And you may not know until you try your hand at several things. Ask
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Exemptions and Dependents for 2017 Tax Returns

It is important to know and understand who can be claimed as a dependent, as well as who can generate a personal exemption for your taxes. It’s not as simple as you might think, especially in complex family situations, such as when a child lives separate from one of his parents, or when there are more than two generations living in the same home.

And best of all, you only really need to know this for the 2017 tax year (at least the exemption part), since exemptions are eliminated for your 2018 tax return.

Recently the IRS published IRS Tax …

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New Deadline for Rollover of 401k Loan Distributions

Under the newly-passed Tax Cuts and Jobs Act of 2017 (TCJA), there has been a slight change for folks who have taken loans from their workplace retirement plan and subsequently left the job before paying the loan back. These 401k loan distributions (as they are known) are immediately due upon leaving the job, considered a distribution from the plan if unable or unwilling to pay it back. This results in a taxable distribution, plus a 10% penalty unless you’re over age 59½.

The distribution could be mitigated by rolling over the same amount of the distribution into an IRA within …

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Best and Worst States for Retirement Finances

Retirement can be one of the most anticipated and exciting times in a person’s life.  When the time comes to start this new chapter, it is important to consider all of the factors to make the transition as easy as possible.  Diligent financial planning is one of the most important things that can make a senior’s retirement successful, and it is especially helpful to know that there are some states that have better financial environments than others.  Whether retirees already live in one of these states, or are looking for a new place to reside, knowing expense expectations can help …

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