Archive - November 2010

1
How To Reduce Your Taxes in 2010 And Beyond
2
Managing Your Finances During a Divorce
3
Investing To Build Wealth
4
Strong Dollar, Weak Dollar, Both?
5
Controlling Your Healthcare Costs in Retirement

How To Reduce Your Taxes in 2010 And Beyond

Tax planning has always been a very challenging element of the financial planning process. This year it has been especially difficult in light of the uncertainty associated with the pending changes to the tax code. As you may be aware, the tax cuts established by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (both of these acts are commonly referred to as the Bush tax cuts) are set to expire at the end of the year. There has been considerable debate as to whether or not these …

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Managing Your Finances During a Divorce

Money could be considered the greatest cause of Divorce. In fact, there are some studies that suggest that how ofter a couple argue about money could predict their likelihood of divorce. Once you’ve reached the point where you are going through a divorce, your finances will suffer as your assets are split in half. What you do after the divorce will lay the foundation of your finances. There are a few things you can do to make sure that you aren’t overwhelmed, and keep your head above water.

  1. Be Conscious of Asset Division – Not all assets are considered equal.
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Investing To Build Wealth

Do you invest to build wealth because of fear of the future?  You probably will say no but many financial firms want to change that. Here is why:

I get lots of financial magazines targeted to the professional financial advisor and despite the ads touting investment companies boasting their benefits and value add to our clients, there is still a lot of slick psychological fear based marketing. Take this title I received,

“Advising Boomers in a World of High Taxes”

I didn’t know we were in a world of high taxes. In fact, we have been in a low …

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Strong Dollar, Weak Dollar, Both?

Today an article on Bloomberg informs us that the US Dollar is alive and well and further declines are unlikely even in the face of Bernanke’s efforts to print $600 billion more. Most of the article’s statements are based on the Dollar Index, which tracks the value of the dollar against currencies of the major trading partners.This index has appreciated during the last couple of weeks as the chart below shows.
Dollar Index

The thing about exchange rates is that they depend on relative rather than absolute merit. For example, if Country A maintains a booming economy while exercising fiscal …

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Controlling Your Healthcare Costs in Retirement

One way that retirees can control their healthcare costs is by using Medicare’s annual enrollment period (November 15- December 31) to make needed changes to their medical and drug coverage. Otherwise, in most cases they will have to wait another year before they can switch plans.

The almost 18 million retirees who are enrolled in Medicare Part D stand-alone plans have perhaps the easiest task during the year-end enrollment period. In one telephone call (800-MEDICARE), they can list the drugs that they take and find the lowest-cost plans. And if they want to change from their current plans, they can …

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