Archive - March 2013

1
How Much Life Insurance Does A Parent Need?
2
Is a Wealth Management Firm Right for You?
3
Know Your Options When Talking To Social Security
4
Taxes And The Value Of Your Time

How Much Life Insurance Does A Parent Need?

Q: I am the father of three. I have a $100,000 life insurance policy through my employer, but I am sure this will be a drop in the bucket assuming this bucket gets kicked. What do you recommend?

Sincerely, Underinsured

Term life insurance is so affordable that no one has an excuse to be underinsured. Over your career, make it your objective to save enough so you no longer need any life insurance. Those who accomplish this goal are self-insured and no longer need to pay a third party. But until then, life insurance provides great peace of mind.

Some …

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Is a Wealth Management Firm Right for You?

Wealth management integrates comprehensive financial planning with customized portfolio management in an all-encompassing service to accomplish the long-term financial goals of high net worth individuals and their families, charitable foundations and trusts.   Financial planning is the process that assesses a client’s current economic condition, and helps them structure realistic long-term financial goals.

Portfolio management provides the means of managing their wealth so they can accomplish those goals while minimizing risks, taxes and expenses along the way.

The objective of the financial planning process is to gather, organize, and analyze a client’s existing financial information, and create a comprehensive plan which …

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Know Your Options When Talking To Social Security

When you get ready to file for your retirement benefits, it’s important to understand what options are available to you before you talk to the Social Security Administration.  There are many ways to get a good understanding of your options, including working with your financial advisor, reading up on the subject (this blog is a good place to start!), and talking to friends and relatives who have already gone through the process.

The reason it’s important to know your options is because the Social Security Administration staff that you may encounter are not trained to help you maximize your lifetime …

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Taxes And The Value Of Your Time

I have written in the past about the value of fully utilizing all deductions when it comes to income tax preparation.  The IRS will certainly come after you if you don’t report all income, but the IRS will not hunt you down to let you know you missed a deduction.   It’s your responsibility to put forth the time and effort, but with that being said, I’m going to say something that may seem antithetical: Sometimes it’s not worth your time or energy.

Knowing where not to look

Not every deduction is worth your time and energy to substantiate and use.  …

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