Personal Finance

Wednesday, September 20, 2017

The Equifax Data Breach

In an increasingly digital world, privacy protection and cyber security is as important as ever. Equifax announced on September 7, 2017 a cybersecurity data breach incident potentially impacting approximately 143 million U.S. consumers. Here's what you should know about the event and where you can go to get more information.

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Digital Deception: Current Trends in Cybercrime

Cybercrime is one of the risks of today's digital world. It's important to be aware of the trends in cybercrime and the ways you can help protect your identity and privacy. Learn more about what's happening in cyberspace today and be sure to think before you click.

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Thursday, August 31, 2017

The ABCs of 529 Plans

If you're already saving for college, you've probably heard about 529 plans. 529 plans are revolutionizing the way parents and grandparents save for college, similar to the way 401(k) plans revolutionized retirement savings. Americans are pouring billions of dollars into 529 plans, and contributions are expected to increase dramatically in the coming decade. Where did these plans come from and what makes them so attractive?

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Monday, August 14, 2017

Evaluating Your College Savings Withdrawal Strategy

Congratulations—your child has been accepted into college! As you prepare for this exciting transition, it is likely that you have been saving for some time, and now you are ready to start withdrawing from your college savings account(s). As you begin the process of developing an appropriate spend-down strategy, it is important that you consider how to distribute your assets in a tax-efficient manner while leveraging financial aid benefits and continuing to maximize current savings.

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Tuesday, August 1, 2017

Saving for Retirement and a Child’s Education at the Same Time

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge. But take heartyou may be able to reach both goals if you make some smart choices now.

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Thursday, June 15, 2017

When Marriage Ends in Divorce or Separation

The end of a marriage is also the beginning of a new financial life. Reconsidering your financial arrangements — whether or not your income will be reduced — should be a priority as you adjust to your new circumstances. The major issues demanding attention and resolution include the following.

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Wednesday, June 14, 2017

The Importance of "What If" Planning

There is a basic rule that applies to personal finance: plan ahead. But “what if” planning can provide security and preparedness when the unexpected occurs.

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Thursday, June 1, 2017

Maintaining Your Financial Records: The Importance of Being Organized

An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document--and you'll need to locate it relatively quickly.

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Thursday, April 6, 2017

There's Still Time to Contribute to an IRA for 2016

There's still time to make a regular IRA contribution for 2016! If you haven't filed your 2016 tax return, you have until your due date (not including extensions) to contribute up to $5,500 for 2016 ($6,500 if you were age 50 by December 31, 2016). For most taxpayers, the contribution deadline for 2016 is April 18, 2017.

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Wednesday, March 15, 2017

Retirement Readiness: Underestimating Your Retirement Cash Flow Can Have Severe Consequences

People preparing for retirement often think that investment returns are the biggest factor in retirement success. Returns are an important factor, but cash flow is the #1 driver of a retirement plan’s success.

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Tuesday, February 28, 2017

Do you make too much for Roth IRA Contributions? Consider a Backdoor Roth!

There are many clients who would like to make Roth IRA contributions, but their income exceeds the applicable income limits. Clients who earn too much money (see chart below) aren’t allowed to open Roth IRAs under current IRS rules.

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Tax-Managed Investing: How to Keep More of What You Earn

Designing and managing investment portfolios involves conducting research to select the best investments to meet each client’s needs. In this effort, it is natural to seek to maximize returns because this can improve the probability of meeting our clients investing goals. However, we all recognize that we cannot control the returns provided by the markets.

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Thursday, February 23, 2017

Find a Penny, Save It Up

When the economy is turbulent and the costs of the items you buy every day are rising, it may seem impossible to save more for your long-term goals. Yet making a few changes to your daily routine may help you uncover some money you could start saving instead of spending. Saving just a little more now could make a big difference over time.

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The Spending Plan (Budget)

Your spending plan is a tool to help you achieve financial goals that otherwise might seem impossible to reach.

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Points to Consider When Setting a Retirement Savings Goal

Many Americans realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether. With all the information available about retirement, it is sometimes difficult to decipher what is appropriate for your specific situation.

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Tax-Advantaged Ways to Save for College

In the college savings game, all strategies aren't created equal.

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Tuesday, January 24, 2017

Look Out For These Top Tax Scams When Filing Your Taxes

Each year the IRS produces a list of Top Tax Scams. Since many of these con games peak during filing season as people prepare their tax returns or hire someone to do so, it’s a good time to become aware of common scams and how to protect yourself.

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Friday, January 20, 2017

Tax Law Changes on the Horizon for 2017

Senior Estate Planner, Mike Repak, discusses the likelihood and potential impact of significant changes from the new presidential administration.

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