Author - Kimberly J. Howard, CFP®, CRPC®, ADPA®

1
See How Long It Could Take To Pay Off Your Holiday Debts
2
See If and How You Can Benefit From a Roth IRA Conversion
3
The Pros and Cons Of IRA’s
4
3 Easy Steps For Creating Your Emergency Fund
5
4 Steps to Managing Your Credit Cards

See How Long It Could Take To Pay Off Your Holiday Debts

Are you ready for the holiday rush and buying spree? Traditionally, the holidays bring us a time of sharing and giving. But the cost of giving has increased over the years and you need to be aware of the burden it could put on your financial situation. With the change in most individual’s financial situation over the past year, this is a good time to reevaluate your holiday gift giving.

Most families spend around $500 on holiday gifts. If you put all those gifts on your credit card, the end result may surprise you. Do you have any idea how …

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See If and How You Can Benefit From a Roth IRA Conversion

Individual Retirement Accounts (IRAs) are a great retirement savings tool for most individuals. They come in two types: Traditional and Roth. Traditional IRAs are established with pretax dollars and you will pay income tax on the full amount when you withdraw the money. Roth IRAs (named after Senator William Roth of Delaware) are established with after tax dollars and your money will grow tax free. This means you will not pay income taxes when you take your money out of the account.

IRA conversions are a great opportunity for those who can benefit. What is an IRA conversion? The IRA …

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The Pros and Cons Of IRA’s

An Individual Retirement Account (IRA) is a great retirement savings tool for most individuals. Created by the federal government, IRAs can be funded during your working years.  During retirement, IRAs may help supplement your Social Security benefits. Your retirement savings can begin with your annual IRA contribution.

If you are under age 50, the current maximum annual contribution amount is $5,000.  For those 50 years and older, an additional $1,000 can be contributed. If turning 50 this year, you are now eligible to contribute $6,000. The contribution amounts are adjusted for inflation each year by the federal government.

IRAs come …

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3 Easy Steps For Creating Your Emergency Fund

Most Financial Planners recommend setting aside a separate cash reserve to cover expenses for emergencies such as a leaky roof, broken furnace, medical expense not covered by insurance or a job loss. Not sure where and how to start your emergency fund? Here are 3 steps to consider when setting up your fund:

Step 1: How much to save?

For single individuals and dual income married couples with no children, you need a fund equal to 3-6 months worth of expenses. For all other married couples the amount should be increased to 6-12 months of expenses. All your current monthly …

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4 Steps to Managing Your Credit Cards

As new credit card regulations go into effect, it’s important to still follow some basic practices.

1) Start with the “need versus want” outlook for your purchases. For example, you “need” food for Fido the dog, but you “want” the rhinestone dog collar. Think before you use the credit card to fulfill a “want.”

2) Although credit cards are a convenient way to pay or to delay payments, paying in full each month is crucial. When you carry have a balance – and especially if you miss a payment – the cost of the item will be inflated. A missed

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