Choosing a Financial Advisor: The Fiduciary Aspect
Posted by Joelle Spear, CFP® on Mon, 04/09/2018 - 11:15
Even the most experienced investors sometimes reach a point where the challenges of balancing a broad range of financial objectives is too complex or time-consuming. That's where a trusted financial advisor can help. In article, we’ll discuss the importance of knowing whether an financial advisor you're considering working with will serve you in a fiduciary capacity.
There's Still Time to Contribute to an IRA for 2017
Posted by Daniel J. Flanagan, CPA/PFS, CFP®, AEP® on Thu, 04/05/2018 - 12:06
There's still time to make a regular IRA contribution for 2017! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2017 ($6,500 if you were age 50 by December 31, 2017). For most taxpayers, the contribution deadline for 2017 is April 17, 2018.
Due Date Approaches for 2017 Federal Income Tax Returns
Posted by Christopher P. Gullotti, MSFP, CFP® on Mon, 03/12/2018 - 14:07
Tax filing season is here again. If you haven't done so already, you'll want to start pulling things together — that includes getting your hands on a copy of your 2016 tax return and gathering W-2s, 1099s, and deduction records. You'll need these records whether you're preparing your own return or paying someone else to prepare your tax return for you.
How Does Working Affect Social Security Retirement Benefits?
Posted by Joelle Spear, CFP® on Mon, 03/12/2018 - 13:58
If you're thinking about working as long as possible to increase your retirement savings, you may be wondering whether you can receive Social Security retirement benefits while you're still employed. The answer is yes. But depending on your age, earnings from work may affect the amount of your Social Security benefit.
Is It Time to Worry About a Trade War?
Posted by Christopher Borden, CRPS® on Mon, 03/12/2018 - 12:16
On March 1, 2018, President Trump announced that the U.S. plans to impose tariffs on steel and aluminum imports. Markets around the world were shocked by the news, with major U.S. indices declining more than 1 percent just when it looked like they were recovering from the February downturn. Why did markets react so strongly? Is this a more serious threat going forward? In a word, yes.
Mortgage and Home Equity Loan Interest Deductions Under the Tax Cuts and Jobs Act
Posted by Daniel J. Flanagan, CPA/PFS, CFP®, AEP® on Mon, 03/12/2018 - 12:01
With its passage in December 2017, the Tax Cuts and Jobs Act (TCJA) changed the deductions for interest on mortgage and home equity loans. On February 21, 2018, the Internal Revenue Service (IRS) provided clarification on how the TCJA will be applied to mortgage and home equity loan interest deductions.
ABLE Accounts: Frequently Asked Questions
Posted by Michael D. Flaherty, CFP® on Tue, 02/06/2018 - 09:56
ABLE accounts, also known as 529A or 529 ABLE accounts, were established as part of the Achieving a Better Life Experience Act of 2014. This act created these tax-advantaged accounts for people with disabilities under section 529A of the Internal Revenue Code.
But who is eligible to establish an ABLE account, and what are the advantages? We’ll answer these frequently asked questions and more in this in-depth look at ABLE accounts.
Why is it important to factor inflation into retirement planning?
Posted by Canby Financial Advisors on Tue, 02/06/2018 - 09:55
Inflation is one of the key factors you will need to consider when planning for retirement. Not only will the cost of living rise while you're accumulating assets for retirement, but it will continue to rise during your retirement, which could last 25 years or longer. This, combined with the fact that you will not likely earn a paycheck during retirement, is the main reason your portfolio needs to maintain at least some growth potential for the duration of your retirement.
What's Your Money Script?
Posted by Canby Financial Advisors on Tue, 02/06/2018 - 09:54
Money is power. A fool and his money are soon parted. A penny saved is a penny earned. Money is the root of all evil.
Do any of these expressions ring true for you?
As it turns out, the money beliefs our families espoused while we were growing up may have a profound effect on how we behave financially today — and may even influence our financial success.
Don't Wait to Ask Aging Parents These Important Questions
Posted by Canby Financial Advisors on Tue, 02/06/2018 - 09:51
It's human nature to put off complicated or emotionally heavy tasks. Talking with aging parents about their finances, health, and overall well-being might fall in this category. Many adult children would rather avoid this task, as it can create feelings of fear and loss on both sides. But this conversation — what could be the first of many — is too important to put off for long. The best time to start is when your parents are relatively healthy. Otherwise, you may find yourself making critical decisions on their behalf in the midst of a crisis without a roadmap.
Here are some questions to ask them that might help you get started.