Archive - July 2012

1
They Are Back
2
Financial Planning And Fatherhood
3
The Zero Duration Asset
4
Deducting Job Search Expenses On Your Tax Return
5
The Painting Gene

They Are Back

Have you wondered where your social security statements have gone?  A few years ago the Social Security Administration (SSA) stopped sending yearly statements out to most folks. Recently, SSA introduced a new tool on its website to view your social security statements.

As a fee-only financial advisor I often discuss Social Security benefits with clients. It’s important to understand your statement and know what it means to you financially. Most folks think social security is only available for those in retirement years….not true.  Social Security is available for those disabled and for those who have lost a spouse or parent/guardian.  …

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Financial Planning And Fatherhood

Financial planning isn't just for people who are getting ready to retire; this kind of assistance can be beneficial through various stages of life. In May, we looked at how mothers make financial sacrifices for their children and we know that fathers do the same.

In a personal essay on Yahoo! Finance, one father discussed “Financial Lessons of Fatherhood, ” mentioning that while he did prepare in some ways, he really could not have know what fatherhood would be like until he actually had child to care for. 

The costs of having a baby

Before you get …

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The Zero Duration Asset

The duration of an asset is the time it takes to get paid back after you bought it. So a zero coupon bond that pays nothing until maturity has a duration equal to its maturity date. A one month CD, that pays interest at the end of the 30 day holding, would have a duration of one month.

A typical bond might have an eight year maturity and a five year duration. The reason the duration is about a third less than the maturity is because of the interest payments.

A “demand deposit” (a checking account) has a zero duration …

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Deducting Job Search Expenses On Your Tax Return

Searching for a job can get expensive.  These days, let’s face it, if it’s not you, someone you know is on the hunt for a new job.  Did you realize that at least some of those expenses can be deducted on your income tax return?

Recently the IRS distributed their Summertime Tax Tip 2012-06, which discusses some of the important facts you need to know about tax-deductible job search expenses.  I’ve added a few explanatory comments to help you get more out of the Tip.  The text of the Tip can be found below:

Job Search Expenses Can Be Tax

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The Painting Gene

I did not get a painting gene.  By painting, I do not mean the artistic kind, requiring creative talent and the ability to synthesize the world as you see it into a one-of-a-kind colorful expression.  I don’t have talent even close to that. No, I mean the kind of painting you use on a wall in your home.  One color, applied with a roller and brush. How can I manage to make a simple task so hard?  I discovered the answer this week.  My financial gene usurped my painting gene.  This means I am genetically incapable of putting enough paint …

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