Author - John Spoto, CFP®

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How Much Will I Need For Retirement?
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A Series On How To Build Your Perfect Retirement Plan
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Planning for college? What’s your plan?
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Use These Two Financial Statements To Kickstart Your Financial Success
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Sometimes The Best Solutions Are the Simplest Ones

How Much Will I Need For Retirement?

Retirement is expensive. How much money you will need each year when you stop working depends on your individual circumstances and the kind of lifestyle you expect to live. Your estimate will be the starting point of your retirement plan and will drive many of the other planning decisions you make, including those regarding Social Security benefits, your retirement date, and how much you need to save in the interim. There are two ways to arrive at this important number.

The most popular method is called the Income Replacement Ratio. It is the percentage of your working, pre-tax income needed …

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A Series On How To Build Your Perfect Retirement Plan

Planning for retirement is perhaps the most pressing financial issue facing most Americans in their 40s, 50s, and 60s today. Although most people believe that realizing a secure retirement is their most important financial priority, few have actually taken the steps necessary to reach this goal. Perhaps they are intimidated by the process itself, including sorting out what is useful from the vast amount of conflicting information available, or the prospect of facing an unpleasant reality.

It is true; planning for retirement involves many variables and unknowns. When do we want to retire? What kind of a retirement do we …

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Planning for college? What’s your plan?

Helping your children pay for college is one of the biggest and most important challenges that you will face. Currently, a four-year education (tuition, fees, room and board, supplies and personal expenses) can range from almost $100,000 at a public college to over $230,000 at some of the most expensive private institutions such as Boston University and The University of Chicago.

With expenses expected to continue to rise at the current rate of 5% per year, the costs could skyrocket to $150,000 for a public college and over $360,000 for a private institution for a student matriculating in 2019. Making …

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Use These Two Financial Statements To Kickstart Your Financial Success

The road to financial security starts with a plan beginning with the creation of cash flow and net worth statements. These two documents form the cornerstone of any financial plan and are important for three reasons. First, they provide you a snapshot of where you stand financially. Second, they are used in every area of your financial plan. Third, when updated annually, they allow you to measure your progress over time. Used properly, they can give you a greater sense of control, help you establish realistic goals and enable you to make better financial decisions. Let’s briefly take a look …

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Sometimes The Best Solutions Are the Simplest Ones

What is the best way to reach your financial goals? You might think with all of the advice we are bombarded with daily from the financial services industry that the only way to achieve success is by having a complicated investment portfolio. You might be surprised to learn that financial success starts with organizing your financial and personal records. These documents verify what you own and what you owe, allow you to manage your day-to-day budget, assist in times of emergency, and help protect against legal issues.

The Simple System

Most of us know being organized is an important discipline …

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