Archive - 2015

1
Three Year-End Financial Moves
2
Find ways to save money when you fund College education
3
Big Changes in Social Security Headed Your Way
4
What you need to know when you acquire debt?
5
For a Successful Financial Plan, You’ll Spend Money — and Time

Three Year-End Financial Moves

checklistAs 2015 comes to a close here are a few things to consider so you can make the most of your money for 2015.

  1. Take full advantage of your IRA contributions. For those age 50 and over, you’re allowed $6,500 and if you’re under age 50, $5,500. It may also be of benefit to see if you qualify for a deductible IRA contribution or if contributing to a Roth IRA makes sense.
  1. Make the maximum contribution to your employer sponsored retirement plan. Granted, there may not be much time left in the year to do this, but there is plenty
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Find ways to save money when you fund College education

It is a well-known fact that funding a child’s college education costs tremendous amounts of money these days. No denial about that. I know it first-hand having funded college education for three children in the last eight years! In fact, that is the reason why we all should carefully examine any whichever method that helps us reduce these costs. So, the question is: is there a way you can save money in the process? Thanks to tax laws (and some very recent tax deals), yes you can. While the finest details are in IRS Publication 970, let me try… Read More

Big Changes in Social Security Headed Your Way

by Eve Kaplan, CFP(R)

There are big changes in Social Security benefits headed your way. Congress surprised the financial advisory community in November 2015 by killing off two Social Security strategies many of us advisors utilized to maximize benefits for our married couple clients:  1) “file-and suspend” and 2) “restricted application.” Couples most affected by these changes are in their 50s and 60s.

Some of these changes already went into effect on 12/31/15 and others go into effect on April 30, 2016 – so you still have a few months to capture some of these strategies before they disappear.

“File …

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What you need to know when you acquire debt?

You may have a great credit score, and perhaps many lenders are eager to offer you debt. Should you jump in and acquire the debt? Not so fast. Acquiring debt puts you in an obligation to pay back in time and as per the terms of the debt. Moreover, if you fail to pay, there are consequences. Also, financial savviness 101 says, “You should never borrow more than what you can afford” and “you should get the best deal possible”. Accordingly, this blog post: to encourage you to think twice, thrice before getting into debt. Perhaps, the checklist below will …

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For a Successful Financial Plan, You’ll Spend Money — and Time

*Published on NerdWallet On the surface, the cost of a financial plan is simple: generally between $2,000 and $4,000, depending on its complexity and where you live. But dig deeper and you’ll find that the plan’s success also depends on you spending time to implement it. Consider the case of a young physician who recently […]

The post For a Successful Financial Plan, You’ll Spend Money — and Time appeared first on Chamberlain Financial Planning & Wealth Management.…

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