Financial Planning 101: Do You Need an Emergency Fund?
As a financial planner, when a potential client comes to me with money to invest they often ask, “How should I start investing my money?” They know that they need to invest and have extra capital on hand to do so, but they’re putting the cart before the horse. Before even speaking with them […]
Do I Need Long-Term Care Insurance?
With nursing home care running north of $68,000 per year, many families who have a “comfortable retirement” could find themselves facing the prospect of spending down a large chunk of their savings and investments should the need for nursing home care arise. Without long-term care insurance some will find their only option may be to […]
DETERMINING YOUR LIFE INSURANCE NEEDS
Many families have a need for life insurance. But more times than not, they do not act because they are afraid of the process. Life insurance is a great tool for protecting heirs that depend on an income stream or to replace the economic value of a stay-at-home parent. But life insurance is not an […]
Credit Freeze, Please
We all know that Experian surrendered 143 million US citizens’ personal information recently- so you have about a 50/50 chance of having your information compromised. And yes, Experian is giving you a year (really? Only 1 year!?) of free identity protection that should help prevent identity theft. However, you can take action to help further […]
Coronavirus COVID-19: What it Could Mean for the Stock Market
I don’t want to add flames to the fire regarding the new coronavirus– COVID-19, however, the time to have a lifeboat drill is prior to the ship sinking. Investors should contemplate what this virus can do to the markets and world economies while they are still thinking rationally, rather than waiting until widespread panic clouds their […]
Cheap vs. Frugal
As a financial advisor, I often talk about being aware of where you are spending your money, because I believe awareness triggers restraint and restraint leads to better savings habits. While saving money is a good thing, buying something that is cheap is often expensive. If you are planning a purchase look for value, don’t […]
USING CHARITABLE REMAINDER TRUSTS TO REDUCE TAXES, GIVE TO CHARITY, AND PROVIDE INCOME.
Every year thousands of generous people leave a part of their final estate to worthy charities, leaving a legacy that will continue to help others after they have passed. Having taken care of their families, these Good Samaritans also help those less fortunate and in need of help and care. But what if there were […]
Changing Lanes
Why is it when we get stuck in traffic the other lane always seems to be moving faster? It is sometimes like that with investments we own. Ours is merely creeping while the other guy’s is moving right along…until we switch lanes. Then we seem to be stuck again in the wrong lane
CASH FLOW & TAX PLANNING: MOVING TAXABLE ASSETS TO TAX-ADVANTAGED ACCOUNTS WITH UNCONVENTIONAL CASH FLOW PLANNING
What if you could transfer assets from your taxable individual or joint accounts into tax-advantaged retirement plans, Traditional IRAs, and Roth IRAs—all while saving taxes now and in the future? We help clients do just that. Over the past few years, we’ve had several clients with large taxable investment accounts that received major tax reductions […]
Can I Use My 529 Plan to Pay for Private Schools?
The tax plan passed at the end of 2017 has a bonus for parents whose children attend private elementary and high schools. You can now use funds from a 529 savings plan to pay for these expenses, up to a maximum of $10,000. In South Carolina and other states that allow a tax deduction for […]
