Financial Planning

Tax On Social Security In Retirement – Retirement Tax Planning
A prudent and effective tax strategy during your employment years will mostly likely need to be modified in retirement. Once earned income ceases and income from retirement plans, investments, and Social Security commences, […]

Published On: April 11, 2022Categories: Financial Planning, Taxes
Important Age Limits When Parents Send Kids Off To School
Auto insurance Kids can stay on their parents’ auto insurance even if they have moved out and they’re away at school and still listing the parent’s home address as their primary residence. In […]

Published On: March 14, 2022Categories: Financial Planning
Over $1 Trillion Paid Out In Social Security Benefits In 2021
A U.S. Government report compiled and released by the Government Accountability Office (GAO) found that 48 percent of individuals 55 and older had no retirement savings whatsoever. Statistics like this are where the […]

Published On: January 12, 2022Categories: Economy, Financial Planning
Social Security Benefits Going Up in 2022
Social Security recipients are due to receive the largest increase in benefits since 1982, but for many recipients, the increase in payments will go towards higher Medicare costs. The Social Security Administration announced […]

Published On: November 12, 2021Categories: Financial Planning
Short Term Rates On The Rise
Rates continued on a gradual assent in October, with the 10-year Treasury bond yield ending the month at 1.55%, up from 0.88% this same time last year. The Federal Reserve is schedule to […]

Published On: November 11, 2021Categories: Debt/Mortgage/Liabilities, Financial Planning
How To Check On Your Social Security Benefits Before Retiring
As retirement approaches, estimating income for the retirement years is critical in planning for living and leisure expenses. It is suggested to request an updated Social Security Statement which estimates the projected benefit […]

Published On: October 19, 2021Categories: Budgeting, Financial Planning
Conversion of Traditional IRA to ROTH
Example # 1 – Full Conversion Harold has two IRA accounts. One is a contributory IRA and the other is a SIMPLE IRA and the total value of both is $22,000. Since inception, […]

Published On: September 17, 2021Categories: Financial Planning, Investing
Benefits Of A Trust Versus A Will
A properly drafted will or trust is essential for anyone that has assets to leave to heirs. Either a will or a trust allows you to designate anyone you wish as beneficiaries. Both […]

Published On: August 20, 2021Categories: Financial Planning
Older Americans Still Holding On To Student Debt
There are now about 8.5 million Americans over the age of 50 that are still paying off student loans, representing the fastest growing amount of debt among student borrowers since 2017. The U.S. […]

Published On: August 19, 2021Categories: Financial Planning
CD Rate History – Historical Note
Not since the days of inflation and high interest rates have Certificates of Deposits (CDs) been perceived as a viable source of income for retirees and conservative savings for working individuals. For years, […]

Published On: August 10, 2021Categories: Financial Planning, Investing