Archive - December 2012

1
Financial Planning Can Add More Joy To Your Holidays
2
What Happens To My 401(k) At Retirement?
3
What Is A Financial Plan Worth?
4
Are You Leaving Social Security Money On The Table?

Financial Planning Can Add More Joy To Your Holidays

Even if you have already shopped for the holidays, it is still not too late to do some financial planning to ensure that you do not overspend. As the 360 degrees of Financial Literacy website reminds readers, “The most helpful step in planning your holiday shopping adventures it so establish a realistic budget based on your current cash flow and financial obligations.”

It is possible to enjoy the holidays with friends and family without overdoing it and without undoing the sound financial plans you and your Fee-Only financial advisor have put in place.

Budgeting Your Money

You can set a …

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What Happens To My 401(k) At Retirement?

You have been saving into your 401(k) for years, and are finally approaching retirement. What will happen to your account? What choices do you have, and what should you do? You actually have a couple of options, and several pitfalls to be aware of. Some of these pitfalls could cost you big time, so be sure to stay on top of them!

Options


1. Rollover to an IRA

After you have officially separated from your employer, you can rollover your 401(k) to an IRA. Rollover just means that the money goes from one account to another without being taxed. If …

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What Is A Financial Plan Worth?

Prospective clients will often ask, “How do I know working with you will be worth the money?” This is a really great question, and is one that financial planners have historically struggled to answer. How do you quantify the benefits of being able to sleep better at night, knowing you have a financial plan? Or the extra time you have to spend with your kids because you are spending less time obsessing over your investment portfolio?

Morningstar did a research study that sought to quantify the benefits of having a financial plan. Their focus was strictly on the benefits to …

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Are You Leaving Social Security Money On The Table?

Many couples that have done some planning with regard to filing for Social Security retirement benefits have figured out how to coordinate between the higher wage earner’s benefit and the lower wage earner’s benefit.  Often it makes the most sense to file for the lower wage earner’s benefit early, at or sometime near age 62, while delaying the higher wage earner’s benefit out to as late as age 70.

This method allows for a maximization of those two benefits.  If you’re really astute, you probably picked up on the concept of file and suspend, as well.  File and Suspend allows …

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