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Four Reasons Your Parents Might Be in Financial Trouble

Katherine Plotnik

As your parents age, they will probably need more help from you. But it may be difficult to provide the help they need, especially if they’re experiencing financial trouble. Money can be a sensitive subject to discuss, but you’ll need to talk to your parents about it in order to get to the root of their problems and come up with a solution. Before you start the conversation, consider the following four scenarios as signs that your parents might be…
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tax documents and information.

Due Date Approaches for 2018 Federal Tax Returns

Katherine Plotnik

Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together — that includes getting your hands on a copy of your 2017 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to prepare your tax return for you. Don’t procrastinate The filing deadline for most individuals is Monday, April 15, 2019. Residents of Maine and Massachusetts have…
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Packing travel bag for trip

Travel Insurance

Katherine Plotnik

Soon you’ll be on your way, taking that trip you’ve looked forward to for ages–but suppose something happens. If you get sick, lose your suitcase, or have to cut your trip short, will any of your existing insurance policies cover your expenses or reimburse you for your losses? If not, you might want to purchase travel insurance, which is available from insurance companies, travel agents, tour operators, and cruise lines. If you can’t make it after all or have to…
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Taxation of Investments

Katherine Plotnik

It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Is it ordinary income or a capital gain? To determine how an investment vehicle is taxed in a given year, first ask yourself what went on with the investment that year. Did it generate interest…
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A Long November’s Nap

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No matter how hard we try to deny it, there are only 24 hours in a day. And once you’ve dedicated most of those to making that important deadline, spending time with family and friends, and maybe squeezing in a hobby, there aren’t many hours left over for that little thing called “sleep.” If the sleep debt you’ve accrued could make an insomniac shake in his slippers, then it’s time to take advantage of National Sleep Comfort Month this November….
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How Student Loans Impact Your Credit

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If you’ve finished college within the last few years, chances are you’re paying off your student loans. What happens with your student loans now that they’ve entered repayment status will have a significant impact — positive or negative — on your credit history and credit score. It’s payback time When you left school, you enjoyed a grace period of six to nine months before you had to begin repaying your student loans. But they were there all along, sleeping like…
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5 Reasons to Prioritize a Lasting Legacy

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Have you been dragging your feet on estate planning? You are not alone. Nearly 64% of U.S. adults do not even have a will, including 51% of people age 55 to 64, according to the website Rocket Lawyer. But a lack of an estate plan, or an outdated one, leaves you and your family vulnerable. Your assets could get tied up in the costly court probate process after death. Your loved ones might have to make difficult decisions about your…
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Invest In Your Business

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According to an analysis by the Economic Policy Institute the median working-age couple has only saved $5,000 for retirement, and 70% of couples have less than $50,000 saved. Considering retirement can last 30 years or more, having a solid savings plan is crucial to everyone’s well-being and long-term happiness – both yours and your employees. As a business owner you know that establishing an attractive culture is key both in recruiting new talent and keeping existing employees satisfied, and a…
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How Will I Manage to Send My Child to College?

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Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy. But that diploma doesn’t come cheap. Unless you are very well off financially, it’s difficult to sit on the sidelines for years and then suddenly find the money to pay for college when your child is ready to go. The best thing to do is…
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Asset Allocation

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Asset allocation is a common strategy that you can use to construct an investment portfolio. Asset allocation isn’t about picking individual securities. Instead, you focus on broad categories of investments, mixing them together in the right proportion to match your financial goals, the amount of time you have to invest, and your tolerance for risk. The basics of asset allocation The idea behind asset allocation is that because not all investments are alike, you can balance risk and return in…
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