End-of-Summer Financial Reset: Preparing for Q4 Tax Planning

There is a growing trend in college planning where families hire an Independent Education Counselor (IEC) to help plan, execute strategies for the ACT or SAT testing and assist in applying to college in hopes of being accepted.

As we approach the end of 2018 many employers are scheduling their benefits meeting requiring you to select yours before the end of the year. Not all benefit options are the same and understanding each is crucial to making an informed decision.

How is my social security calculated? Social Security is calculated using your 35 highest paid earnings years and then averaged using the benefits calculation formula.

There’s a number that is going away soon that has an impact on your life; it’s called LIBOR.  LIBOR ( London Interbank Offered Rate ) is used to determine the interest rates banks charge each other for overnight, one-month, three-month, six-month, and one-year

After months of verbal threats between the EU, China and the US, tariffs, and counter-tariffs started in July 2018, leaving American consumers and investors wondering how much of an impact it will have on them.

Over the next twenty years, there will be a wealth transfer that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations.

It’s that time of year again; kids go back to school, the election season is near, fall holiday planning starts, and suddenly we all move closer to the end of 2018.

Regardless of your age, having a will or estate plan is essential for many reasons, and isn’t just limited to passing assets at death. A will provides necessary asset passing, although many times isn’t enough when situations become more complicated.

Divorce is a common occurrence in the US, with 50% of all first marriages ending in divorce. According to the American Psychological Society, that is even higher for those marrying a second time.

For families who previously used itemized deductions for charitable giving when filing their taxes, The Tax Cuts and Jobs Act (TCJA) will remove this benefit , resulting in default to the standard deduction for their 2018 filing.

Planning is valuable for many reasons and helps to ‘normalize’ things when you find yourself in the middle of an unexpected life event.

Taking Social Security Benefits can be a guessing game unless you do your research to figure out what age to take benefits the best for you.  Do you receive benefits at the earliest age or wait until your full benefit age?

One thing that has plagued the financial services industry is ‘trust’ of the industry.  Unfortunately, there are many reasons that some people have developed a distrust of financial companies and the individuals that work for them.

Money and technology are so closely related that if a financial advisor isn’t employing the latest technology, how will it equate to risk for you and your money?

On May 24 th , 2018 President Trump signed The New Senior Safe Act into federal law, encouraging financial professionals to report senior financial abuse.

Credit scores are used in our country as a method to determine an individual’s financial responsibility.  The three-digit credit score means more than just the possibility of fiscal responsibility to the lender.

Many investors evaluate not only their portfolio performance but also their relationship with their financial advisor from time to time.

How did you learn to manage money and understand the value of investing?  Did your parents relay to you what they knew about money or did you read books on budgeting and investing in figuring it out yourself?

suit·a·bil·i·ty: The quality of being right or appropriate for a particular person, purpose, or situation. The definition of suitability seems quite easy to understand and should be clear when it comes to investment recommendations to clients.

At some point along your life’s journey, you might find yourself at a crossroads looking back thinking, “Is this it?  Is this all there is to life?” while considering the path ahead of you.