Financial Advisors

  • Fraudulent tax schemes have devastated many families. From losing money to forfeiting personal information, tax scams can have a detrimental effect on a person’s life. Scammers use many means to identify and initiate contact with their targets: phone, email, social media, and regular mail.

    There are a few telltale signs that your letter from the IRS is not real. Here are some of the easiest ways to tell that it is a scam.

  • Making financial “check-in’s” part of your regularly scheduled programming can be a colossal benefit for your financial life right now, and it can set you up for success in the future. When I talk to people about their financial habits, I hear a recurring theme:

    You’ve tried the latest budgeting app. You’ve done weekly “allowances” for you and your spouse. You’ve made a lot of strides in a few short months - only to fall off the wagon again.

    You’ve gone through the recommended next-steps - and you’re tired of seeing your day-to-day money habits continue to backslide.

  • In order to make a living wage today in the U.S., employees are required to have at least a four-year degree. At the same time, the cost of tuition has been on a continuous rise. So for generations X and beyond, student loan debt makes up a large chunk of their total debt. Four short years at college could potentially take decades to pay off if you’re just making minimum payments.

    There is hope, however. There are options to pay off debt quickly, get lower interest rates or in some cases, have the debt forgiven. Here are some of your options to chip away at student loan debt so that you can have a little more breathing room in your budget.

  • When you work with a financial advisor, you want to make sure that the advice you receive is always in your best interest. You don’t want to jeopardize your financial plan, or your ability to earn more in the long-term because an advisor sold you a financial product that you may or may not have needed.

  • We talk a lot about financial education in this blog, especially as it pertains to our youth. But what about our entrepreneurs, seasoned business owners and executives who have experience in their fields but not in finance? What happens to them in business and in life if they do not become educated?

  • The beginning of the new year is an excellent time to review your financial goals and set your resolutions. Financial resolutions can help you successfully reach your short- and long-term goals. Financial goals could include items like going on a fabulous vacation, purchasing a new home or increasing retirement savings.

  • Last week I wrote about what individual taxpayers can expect in 2018 under the new 2017 Tax Cuts and Jobs Act Law. Now, let’s take a look at the business side of things. The purpose of this blog is to highlight things that taxpayers understand, not what they expect their accountants and financial professionals to know. In other words, we won’t get “into the weeds.”

    For more details, this article “What Tax Reform Means for Small Businesses & Pass-Through Entities”  by Forbes writer Kelly Phillips Erb covers a lot of ground. I will bullet the major points to highlight areas that you may want to spend more time understanding in light of your business situation. The new laws are still being interpreted and we can expect more clarification from the IRS in the coming months.

  • Millennials are the next generation entering and rising through the ranks of the workforce. Their needs, however, differ distinctly from the Baby Boomer generation that preceded them. In a general sense, millennials are not focused on attaining the same types of goals as their predecessors, namely expensive houses, and cars. Rather, their priorities lie in spending money on experiences, travel, and personal development.

    Financial advisors need to be aware of the shifting needs of their millennial clientele and actively think about ways to better help them reach their goals.

  • Your income channels will drastically vary when you reach retirement. Without the cushion of a biweekly paycheck from your employer, it becomes even more important to understand your revenue streams and where they will come from.

  • Did you know that freezing your credit is one of the best ways to protect your identity? So many people skip credit freezes because they’re worried that it’ll be difficult to un-freeze it if they need it. The truth is, un-freezing your credit is a relatively straightforward process, and it has additional benefits - like forcing you to hit “pause” before making a major financial decision that requires a credit check.

    The good news is that freezing your credit is an easy “to do” that you can check off your list in an hour or less. Ready to get started? Here’s your quick-start guide.

  • A financial advisor is a professional who helps you manage your finances and investments, teaches you about important options and aids you in making smart decisions toward your overall financial goals. But did you know that in order to maintain their license, your financial advisor must pass a rigorous national examination and complete ongoing educational requirements annually? Certified Public Accountants (CPAs), Chartered Financial Analysts (CFAs) and Certified Financial Planners (CFPs) must adhere to a strict code of ethics and work in the best interest of their clients, disclosing any conflicts of interest. These advisors must act as a fiduciary, and typically are paid solely from client fees and do not sell products. They truly value their relationship with you, the client.

  • Social Security is not a program intended to replace your full retirement income, but in many cases, it can give you and your spouse a foothold on economic security as you grow older. In May of 2016, Social Security changed many of the rules for collecting your benefits. However, there are still ways to maximize your financial security from the time you retire through the end of your life.

  • When you’re in a committed relationship, you’re going to experience disagreements. When those disagreements are about finances, it can be especially uncomfortable because we all have emotional hang ups when it comes to money. Whether one of you is a spender and the other is a saver, or you disagree about where your “extra” money from bonuses or unexpected cash windfalls should go, financial disagreements can lead to tension in your relationship. Luckily, you can move through these difficult conversations with relative ease by following a few simple steps.

  • Most people will agree that retirement funds aren’t what they used to be. Gone are the days of working at one company for 30 years, getting the gold watch and retiring on a cushy pension. Now it’s primarily up to you, the employee, to save for your later years, which can prove challenging. Fortunately, there are many different ways to save money for retirement. Here are 3 popular options.

  • Congratulations! You’re an executive and you now qualify for deferred compensation plans. But what does that mean?

    You might have heard the term “deferred compensation plan” before. If not, you might be more familiar with the idea than the term, so this definition might ring some bells when you put it in context: A deferred compensation plan is one in which a portion of an employee's pay is held until a specified date, usually (though not always) retirement.

  • Did you know that nearly 40 percent of weddings today are second or third marriages for at least one of the spouses? The Pew Research Center shared this statistic along with several others, including that one in five marriages are remarriages for both spouses. You may be one of these numbers; single due to divorce or the death of a spouse. If you are marrying again you are creating an opportunity for new life with a new partner. Successful remarried couples have found the following tools helped their financial success during this joyful transition.

  • The Successful Transition Series looks at three major life transitions: retirement, entrepreneurship and career change. This week, we look at career change and some of the financial challenges that come with this transition.

  • One of the many facets of my financial advisory services is helping clients evaluate and choose to participate in their employer’s executive benefits.  Many of these benefits supplement an executive’s overall income, now and in the future.  But there are pros and cons as well as tax considerations that go along with them.

  • The stock market continues to trend upwards. According to industry analysis it is expected to remain positive for 2017 and enter 2018 strong. This may have some people questioning why they still need a financial advisor. The truth is a good financial advisor may be the key resource between reaching your financial goals or spending your lifetime worrying about them. Below we’ll delve into a few reasons why people need a financial advisor — even when the market is up.

  • Many women struggle to find a financial advisor who understands their concerns and feels like a good match for their financial planning needs. This happens for a variety of reasons, but the truth is simple: women aren’t a homogenous group. We’re all unique individuals with specific goals, desires, dreams, and worries.

    Too many advisors gear their advice toward women by offering generic platitudes without getting down to the nitty-gritty. Women want an authentic relationship with their advisor that dives deeper beyond the surface-level financial advice and small talk. They want a custom plan that supports their short and long term goals, and they don’t want to have the advisor continually address their husband or partner instead of directing questions their way.

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