Managing your financial life is not just about money.

Archives for Planning For the Future

Investing 101 – Pt.14 Stuff You Need to Know

This is the 14th article in a series that will discuss and explain basic investment concepts in hopefully an understandable and meaningful way.  Whether you work with an investment advisor or choose to do your own investing, there are some things you need to know to be successful.  Here is my take on what those things are. What kind of investments should I use in my investment strategy? Should I invest in individual stocks and bonds?  No.  Too much risk, and not enough diversification.  There is one exception to this, and that is if you work for a company that
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Love, Marriage and Money

This piece is in honor of Valentine’s Day.  It is meant for people in love who are married or live together and who have a shared or partially shared financial situation.  Finances can be a strain on a relationship.  The goal of this article is to provide some suggestions that may help lessen or eliminate any financial friction points that may exist in a relationship. What follows is a brief, but hopefully comprehensive list of the areas of finance that exist for all of us.  These are the things you have to worry about.  I will attempt to describe “financial
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Investing 101 – Pt.03

This is the third article in a series that will discuss basic investment concepts in hopefully and understandable and meaningful way.  Whether you work with an investment advisor or choose to do your own investing, there are some things you need to know to be successful.  Here is my take on what those things are.
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FPA Annual Conference Recap

Last month Kirk and Justin attended the Financial Planning Association’s annual conference in Nashville.  The annual FPA conference is one of the country’s largest gatherings for financial professionals. It is a great opportunity to keep up with what is happening in our industry. Here are a few of our takeaways...
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Affordable Care Act Open Enrollment

Affordable Care Act Open Enrollment Began November 1st Know anyone that doesn’t have access to health insurance through their employer or the federal government via Medicare, Medicaid, etc.?  The open enrollment period for health insurance plans purchased on healthcare exchanges set up by the Affordable Care Act (commonly referred to as Obamacare) began on November 1, 2017.  The enrollment period will run through December 15, 2017 in all states, and longer in a small number of others. For our local clients, here is a list of the surrounding the states that are exceptions to the December 15th deadline: Massachusetts: January
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Lump Sum (Investment) vs. Pension (Insurance)

Most workers have a voluntary, contributory retirement plan option available to them at their place of work. The worker contributes money from his/her paycheck, the employer may also contribute funds to this account via some kind of match. The funds are invested. The money belongs to the employee and goes with him/her in retirement, or upon a job change. Common plans are named 401k, 403b and 457. Some workers may also have what we call a “defined benefit pension plan” available to them.  In some cases (municipal employees) money is mandatorily taken from their paycheck for this pension.  In other
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Investing 101 – Pt.02

This is the second article in a series that will discuss and explain basic investment concepts in hopefully an understandable and meaningful way.  Whether you work with an investment advisor or choose to do your own investing, there are some there are things you need to know to be successful. Here is my take on what those things are. Think of stocks as companies. You will sleep better.  The very word “stocks” has a negative connotation for many of us. They can be scary.  They crash. You can lose all of your money.  An easy way to deal with this
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Investing 101 – Pt01

This is the first article in a series that will discuss and explain basic investment concepts in hopefully an understandable and meaningful way. Whether you work with an investment advisor or choose to do your own investing, there are some things you just need to know to be successful. Here is my take on what those things are. You need to own some stocks in your portfolio, and probably more than you think.  Bonds are guaranteed and are perceived as safe.  However the 10 year government bond, as of this writing, is paying about a guaranteed 2%.  Take away taxes
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Life Insurance & Legal Documents

This is the 13th article (and last) in a series on retirement.  In this piece I will answer questions 29, 30, 31 and 32 questions that you must answer before retiring. What about life insurance? If you have done well financially in your life, you may well not need any life insurance. If you have not done so well, you may need to have life insurance on one or both spouses to provide financial security. The problem with this situation is that it is pretty expensive to carry life insurance on folks in their sixties or older, and those costs
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Leaving Assets for Children during Retirement

This is the 12th article in a series on retirement. In this piece I will answer questions 26, 27 and 28 of 32 questions that you must answer before retiring. Do I want to leave anything for my kids? The answers to this question run the gamut.  There are those who absolutely want to leave assets to their children.  Then there are those who plan to spend all their assets and leave nothing.  And there are those who would like to leave assets if possible.  The problems arise with folks who absolutely want to leave a legacy to their children. 
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