Archive - March 11, 2013

1
Including Social Security As Part Of Your Retirement Plan
2
Income Seeking Investor? Fair Warning
3
Social Security Benefits And Taxes
4
Are Financial Advisors Hazardous To Your Wealth?

Including Social Security As Part Of Your Retirement Plan

When you’re younger, thinking about retirement seems more like a concept than an eventual reality – the milestone seems so far away. But, one day, it will become a reality, and it’s better to start planning financially as early as possible for that reality to ensure that you have enough money accumulated not simply to exist, but to enjoy your work-free days.

Your retirement plan needs to be funded from different sources. After all, you shouldn’t put all of your eggs in one basket. One source that is often ignored or discounted, but should still be part of your plan …

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Income Seeking Investor? Fair Warning

With interest rates historically low, many investors are seeking non-traditional means to generate income from their investment portfolios. Often people find comfort in investments that provide interest and dividends because it is based on the rule of thumb that one shouldn’t touch the principal. The financial media has latched on to the subject – it is not hard to find stories on a daily basis on the virtues of income investing.

And that makes me nervous. Investment styles that are currently in vogue tend to attract people that fail to consider the risks. From what I’ve seen, I have the …

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Social Security Benefits And Taxes

When you’re receiving Social Security benefits, you may be subject to income tax on those benefits.  At the end of the year, you’ll receive a form SSA-1099 from the government that details the benefits that you’ve been paid, as well as the amount that has been deducted for Medicare premiums, and any federal income tax that you’ve had withheld from the benefit checks.

When you prepare your tax return for the year, if you’re using a software program (does anyone prepare them by hand any more?), the program will give you a place to enter the figures from your SSA-1099 …

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Are Financial Advisors Hazardous To Your Wealth?

Those who use the term “financial advisor” on their business cards can be split into two groups: fiduciary advisors and nonfiduciary advisors. Fiduciary advisors are legally responsible to act in your best interests, and, as the name would suggest, nonfiduciary advisors are not. I should know the difference between the two better than most; I’ve worn both hats. Unfortunately, few in the general public understand this distinction.

In either case, these are not good times to be called a snake oil salesman—I mean financial advisor. The general public has good reason to distrust most financial advisors. Studies have now proved …

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