No one likes to talk about death. However, it’s an important financial planning topic to consider. We all know we should have a living trust or will in place, yet even with the basics prepared and paid for, there are unexpected scenarios that can significantly set you back both emotionally and financially. Basic preparation. In… Read more »
Recently, the New York Times published an article by Tara Siegel Bernard entitled, “How One Man Lost $740,000 to Scammers Targeting His Retirement Savings.” The victim, a retired lawyer, was convinced by scammers that he was part of a government investigation. The scheme involved several individuals posing as investigators, IRS agents and authorities. They convinced… Read more »
Whether you are entering, enrolled or graduating college, student loans can be overwhelming. While there are numerous options to help ease the burden, research and adhering to terms is of utmost importance. Any student, regardless of income, who wants to be considered for federal, state and school financial aid programs should complete a FAFSA form… Read more »
Planning for a summer vacation? Here are some financial tips to help keep your budget intact. It’s always best to plan early; research where you’d like to go, and then start a savings bucket specifically for that vacation. Ideally, big trips should be well thought out a year in advance. This will allow you to… Read more »
If you are like most businesses with employees, you run into the challenge of motivating your team. Often, both decision makers and employees try to solve the problem with a raise – more money. But, if you goal is exceptional customer service and you need to motivate your staff to be more engaged, you might… Read more »
Planning for the future and growing a garden are quite similar. When we set out to grow a garden, we need a plan to determine the desired results. Do we want to harvest the garden to feed the family? Contribute to a community? Use it to accent what we already have available to us? Or… Read more »
Most of us are enrolled in some type of managed care health plan. Managed care means you agree to allow a private insurance group or physicians group manage your access to health care. From the insurer’s point of view, these are cost containment measures, and they can be frustrating to deal with if they are… Read more »
As we enter another new year, many look to this opportunity with excitement to start anew; refresh their outlook and create goals or new aspirations of achievement. However, it’s important to reflect on and remember the past as to not make the same mistakes or fall into the same rut after the new year’s excitement… Read more »
The cycle of life is an incredible journey through good times, bad times and unexpected events. Preparing for one’s financial lifecycle is often miscalculated, leaving a person or family financially strapped or in dire straits. Many life events bring us joy: a wedding, the birth of a child, a graduation and so on. But when… Read more »
Medicare Advantage plans are more popular than ever. With Medicare Annual Election Period coming soon, we are expecting even more seniors to choose this type of coverage than ever before. Low- or even no-premium plans are the most popular and some plans even offer a “giveback,” a credit to your Social Security benefit, rather than… Read more »
At a recent business conference, every session talked about ChatGPT and A.I. which made me question, should mankind be concerned? Will procedures and policies be put in place to manage the technology and potential threats? Recently, AP News reported that a couple of lawyers were fined for using falsely produced case references that ChatGPT had… Read more »
These days, many individuals are seeking ways to be calm and in the present, appreciate their lives and develop practices to stay focused. The financial events over the past few years have provided a perfect opportunity to practice these tools. Mindfulness. According to mindfulness.org, “Mindfulness is the basic human ability to be fully present,… Read more »
Packing for your summer vacation means finding room for all the essentials. One that many might forget is travel health insurance. Now, keep in mind that trip insurance and travel insurance are very different. Trip insurance, usually purchased from your agent or online booking site, insures you against loss for having to cancel or postpone… Read more »
In December, the President signed the SECURE 2.0 Act of 2022 (SECURE 2.0), part of the Consolidated Appropriations Act (CAA) of 2023, which builds on and expands the SECURE Act of 2019 to improve retirement-savings opportunities. Below are a few key highlights of SECURE 2.0: 2023 2024 2025 2026 For more information and the personal… Read more »
The game of Texas Hold’em is much like the “game” of the markets. It’s about long-term strategy and restraining from being impulsive or emotionally tied to the current state of the game. The Game Each player is dealt two cards face down known as hole cards. Then, a series of community cards are dealt face… Read more »
Merriam-Webster’s definition of harvest is to gather, remove or extract a crop or living cell. In the world of finance, it’s the season to review your potential tax liability for the current year and harvest unrealized losses to offset any realized gains. Realized vs. unrealized. A realized gain (or loss) occurs when an asset or… Read more »
Whether you are turning 65 soon or already enrolled, there are some simple points to remember as you plan your Medicare coverage. Turning 65? DO set up an online account with SSA.GOV. This will be your “mySSA” account. Register at least four months before your 65th birthday. Your Medicare effective date is the first day… Read more »
Each year, Centers for Medicare and Medicaid Services (CMS), under the Federal Department of Health and Human Services (HHS), sets new pricing for Medicare. This involves more than just your Medicare premium, but deductibles, co-pays and reimbursement levels for providers. Fortunately, there is good news for the year ahead. The 2022 Medicare Part B premium… Read more »
In today’s economic environment of higher interest rates, inflation (aka higher prices) and a potential recession on the horizon, it’s important to get back to the basics in managing our finances. Review your budget. Make a list or use an app to track your expenses. Most banks offer software to categorize your transactions appropriately. This… Read more »
History demonstrates socially responsible investing (SRI) has been present since the 1800’s. It began with adversity to companies that manufactured tobacco and alcohol or promoted gambling in an era known as the Age of Reason. In 1971, the first socially responsible investing fund was launched by Pax World, a sustainable investment firm, and in… Read more »