Wealth Management For Individuals, Companies, and Sports and Entertainment
As the end of the year approaches, it’s time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax situation. This is particularly true for year-end planning. You can’t know where to go next if you don’t know where you are now. So take a break from the usual fall chores and pull out last year’s tax return, along…
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As you plan for the year ahead, is an investment checkup leading your list of resolutions? Taking time for a detailed financial review — including retirement planning, college savings, and your tax situation — may help you progress toward your long-term goals. Consider the following items as part of your checkup: Capitalize on tax reductions. If you plan to adjust your investment allocations, make sure you understand the tax consequences of your actions. Taxes on both long-term capital gains —…
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An automobile accident can be a confusing and stressful event, but being prepared can help you remain calm. It’s important to know what to do immediately after an accident and what to do in the days following. Immediately after an accident Pull off the road if the accident is minor. If the accident is serious and there are injuries, or if you believe there will be a dispute as to who’s at fault, don’t move the vehicles Call for police…
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An individual retirement arrangement (IRA) is a personal savings plan that offers specific tax benefits. IRAs are one of the most powerful retirement savings tools available to you. Even if you’re contributing to a 401(k) or other plan at work, you should also consider investing in an IRA. What types of IRAs are available? The two major types of IRAs are traditional IRAs and Roth IRAs. Both allow you to contribute as much as $5,500 in 2017 (unchanged from 2016)….
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As the traditional giving season approaches, there is one important item to add to your to do list: Create a holiday budget. Before the gift shopping and wrapping begins, take control of your wallet through financial preparation. Remember, you can avoid the credit card crunch and the dangerous pitfall of borrowing against your company’s retirement savings plan or IRAs. Here’s how to establish a holiday wish list and spending budget: Start by determining the total amount of money that you…
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window.matchMedia || document.write(“” + “”); It’s a fact: People today are living longer. Although that’s good news, the odds of requiring some sort of long-term care increase as you get older. And as the costs of home care, nursing homes, and assisted living escalate, you probably wonder how you’re ever going to be able to afford long-term care. One solution that is gaining in popularity is long-term care insurance (LTCI). What is long-term care? Most people associate long-term care with…
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Teaching our kids about money is one of the most valuable lessons we can teach them. Many times we will learn something in the process as well. We live in a society where our kids feel the need to have the newest clothes, gadgets, toys and technology. It has gotten out of control. The best way to teach your kids the value of money is to teach them to save their money for the things they want. But the real…
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Retirement can be scary. You save up for it your whole life, working hard and investing it for your future. Then that day finally comes and you start pulling out that hard earned money. How do you decide how much money you pull out of these accounts? In general, a safe withdrawal rate is 3%. So, for example, if you accumulated $1,000,000 in savings between your 401k and your IRA then you would pull out $30,000 per year. It that…
Continue reading I'm Retired – Where do I get my paycheck?
Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs may then decrease after your children are grown. You should periodically review your needs to ensure that your life insurance coverage adequately reflects your life situation. Estimating your life insurance need There are a couple of simple methods that you…
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A home inventory is a complete and detailed written list of all your personal property that’s located in your home and stored in other structures like garages and toolsheds. It should include your possessions as well as those of family members and others living in your home. You should prepare an inventory whenever you move into a new home. To keep track of new additions and discarded items, be sure to update it every year. Wasn’t there a vase on…
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