Author - jim@blankenshipfinancial.com (Jim Blankenship)

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2015 MAGI Limits – Single or Head of Household
2
Stay Away From This Asset Class in 2015
3
Coordinating Social Security Benefits in Matters of Divorce and Remarriage
4
Make SMART Goals as You Plan
5
A Message about Risk in Investing

2015 MAGI Limits – Single or Head of Household

householdNote: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately who did not live with his or her spouse during the tax year, is considered Single and will use the information on this page to determine eligibility.

For a Traditional IRA (Filing Status Single or Head of Household):

If you are not covered by a retirement plan at your job, there is no MAGI limitation on your deductible contributions.

If you are covered by a retirement plan at work, if your MAGI is $61,000 or less, there is also no limitation on your deductible contributions …

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Stay Away From This Asset Class in 2015

The SwamiAdmittedly, this is a pretty deceiving headline. We see headlines like these every day in the newspapers, TV and from colleagues at work. The truth of the matter is that there are certainly going to be assets classes that will behave horribly while other asset classes do extremely well. The point is, neither you nor I (or anyone else) will accurately be able to predict which ones will do better than others.

For every person that says stocks will have a meteoric rise in 2015 there will be just as many that will say to avoid them. You’ll have others …

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Coordinating Social Security Benefits in Matters of Divorce and Remarriage

divorce throws a curve

Photo courtesy of Bec Brown via Unsplash.com.

Social Security has a way of making decisions very difficult. In the simplest of circumstances, the choices can be tough. But what if you’re in a tough spot, such as if you’re divorced and now involved with someone else, considering remarriage? Social Security benefits in matters of divorce can become very complicated.

The Decisions

Social Security benefits can be taken as early as age 62. You can also delay taking benefits to any age after you’ve reached age 62. Delaying to your full retirement age will result in a larger benefit, but …

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Make SMART Goals as You Plan

goal settingGoal planning is the real “meat” of financial planning. That is to say, once you’ve covered the issues of organizing your information, developing and improving your net worth, and providing for the safety issues, it is now time to consider exactly what you would like to do with your money and your life.

This is a very personal set of decisions – no one person makes the same choices. Perhaps you’d like to open your own business, and become your own boss. Maybe all you’d like to do is to finish working after 30 years and spend your time …

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A Message about Risk in Investing

risk in swimmingThe following is a story that was related to me by another financial planner. The message is quite remarkable – and important for all of us to understand.

A dentist, age 53, had sold his practice and partially retired. When we reviewed his portfolio, which amounted to approximately two million dollars, it became apparent that he had strong feelings regarding protection of capital. The entire two million dollars was invested in a combination of CD’s, money market funds, and short-term US government bonds.

A portfolio with this kind of makeup is considered risk averse, meaning that there is little if …

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