I received a new job offer but the salary is low. Should I make a counteroffer?
Posted by Canby Financial Advisors on Fri, 12/16/2016 - 13:18
Probably. Getting paid less than you should when starting a new job can affect not only your current paycheck but also your long-term asset accumulation. For example, the less money you earn, the less you have available to contribute to your retirement plan, and potentially the lower the amount of matching employer contributions you'll receive if they are offered.
What should I evaluate when considering a new job offer?
Posted by Canby Financial Advisors on Fri, 12/16/2016 - 13:17
Today, few people stay with one employer until retirement. Instead, it's likely that at some point during your career, you'll be searching for a new job. You may be looking for more money, greater career opportunities, or more flexibility. Or you may be forced to look for new employment if your company restructures. Whatever the reason, at some point in your working life you might be faced with a new job offer. Should you take it? Here are some things to evaluate.
Estate Planning: It’s for Everyone
Posted by Daniel J. Flanagan, CPA/PFS, CFP®, AEP® on Mon, 11/14/2016 - 13:37
If you’re like many people, you’ve thought about making an estate plan, but you just never get around to doing it. Perhaps you’re too busy, or maybe you’d rather avoid considering what will happen in the event of your incapacity or death. Although these concerns are understandable, estate planning is a vital component of your financial well-being—and one that’s best tackled sooner rather than later.
Why you need an estate plan
Do I Need To Make Any Changes To My Medicare Coverage for Next Year?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:44
During the Medicare Open Enrollment Period that runs from October 15 through December 7, you can make changes to your Medicare coverage that will be effective on January 1, 2017. If you're satisfied with your current coverage, you don't need to make changes, but you should review your options before you decide to stay with your current plan.
Will vs. Trust: Is One Better Than The Other?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:41
When it comes to planning your estate, you might be wondering whether you should use a will or a trust (or both). Understanding the similarities and the differences between these two important documents may help you decide which strategy is better for you.
What is a will?
A will is a legal document that lets you direct how your property will be dispersed (among other things) when you die. It becomes effective only after your death. It also allows you to name an estate executor as the legal representative who will carry out your wishes.
Are you Ending 2016 Healthy, Wealthy, and Wise?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:35
Although the year is drawing to a close, you still have time to review your finances. Pausing to reflect on the financial progress you made in 2016 and identifying adjustments for 2017 can help you start the new year stronger than ever.
How healthy are your finances?
Think of a year-end review as an annual physical for your money. Here are some questions to ask that will help assess your financial fitness.
Pretax, Roth, or After-Tax Contributions: Which Should You Choose?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:31
If your employer-sponsored retirement savings plan allows pretax, after-tax, and/or Roth contributions, which should you choose?
Pretax: Tax benefits now
With pretax contributions, the money is deducted from your paycheck before taxes, which helps reduce your taxable income and the amount of taxes you pay now. Consider the following example, which is hypothetical and has been simplified for illustrative purposes.
What Changes can I Make During this Year's Medicare Open Enrollment Period?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:27
Each year, current Medicare beneficiaries can make changes to their Medicare coverage for the following year during the Medicare Open Enrollment Period that starts on October 15 and runs through December 7. Because this period is the only time during the year that all people with Medicare can make changes to their health and prescription drug plans for the following year, you should carefully consider your options. During this annual enrollment period, you can:
Perspectives on the Market
Posted by Christopher Borden, CRPS® on Mon, 10/24/2016 - 17:17
The 3rd quarter is historically the weakest for Stock Market returns, as per the adage “Sell in May and go away”. But that was not the case this year, as the S&P 500 gained almost 4% and Foreign Stocks gained just over 6% from July 1 to September 30. The 4th quarter of the year has been the best calendar quarter for stocks on average. In a Presidential election year, there is added uncertainty about the US political situation. After an election there is often more clarity about the direction of government policies, and the markets have tended to react favorably.
Deleting Sensitive Information? Don’t Rely on Your Recycle Bin
Posted by Michael D. Flaherty, CFP® on Fri, 10/14/2016 - 09:33
Computer forensic experts are a lot like paleontologists—the scientists who study the life of past geological periods. Paleontologists have never unearthed a full dinosaur skeleton. But, by examining just a small sample of scattered bones, they’ve been able to figure out the skeletal structure of hundreds of dinosaur species.
Likewise, when we delete our computer data by conventional means (i.e., moving a file to the Recycle Bin and emptying that bin), we leave “fossils” or remnants behind. And the