College planning is no simple task. There are plenty of moving parts and mountains of paperwork, not to mention deadlines. The fact is, if you don’t do it right, it could cost you thousands more than it should. Over many years of guiding clients through the college planning process, we’ve identified the most common mistakes people make. By understanding these … [Read more...]
Ten Questions To Ask About College Planning
May 17, 2018 by
Most people understand the importance of seeking help with their retirement planning or appreciate the value of investment management, but college planning is an often neglected piece of the financial puzzle. The average graduate leaves college with huge student loans (1) and parents also take on debt to cover the cost of higher education. According to a Sallie … [Read more...]
Five Facts You Should Know About Social Security
May 14, 2018 by
When anticipating retirement, you may think of the first work-free years of pursuing hobbies or traveling. However, your years in retirement may be longer than you think. Knowing when to claim benefits can give you a better chance of making your retirement money last. Here are five things you should know: 1. Full Retirement Age doesn't mean … [Read more...]
Why I Became a Financial Advisor
March 29, 2018 by
By Dave Coen I’ve often been asked why I entered this industry and chose to become a financial advisor. From a young age I always had a spirit of an entrepreneur. I sold fudge at school to friends – using ingredients that my Mom bought with her money. I naturally fell into having my own business from a young age, but always enjoyed the parts where I could … [Read more...]
Question 5 – 8 (12 Questions I should ask myself about Retirement and College)
March 8, 2018 by
Have we thought of what the impact of that might be on student #2 or #3? Sometimes we are so focused on getting our first student through college that we forget that there are one or two more coming along later. As parents, we are just trying to do the very best we can for our students, but it is not uncommon for us to see the students who come later suffering … [Read more...]
12 Questions I should ask about Retirement and College
March 1, 2018 by
(For the sake of brevity, I have included 4 here and the rest will follow the next time.) The answers to these questions are different for each family and there are no right or wrong answers. Your family is unique and your needs are different from your neighbor. All we strive for is to help the parents and the student to be on the same page so … [Read more...]
Bitcoin and inheritance
February 13, 2018 by
If you own Bitcoin, it might be wise to plan and think about where to store your information about it – just like all our passwords and other sensitive information. Our valuables used to refer to our possessions but now it also includes: information! No matter how young we are, we need to plan for the possibility of not being here tomorrow. How would that … [Read more...]
New tax treatment on 529 plans and Mortgages
January 23, 2018 by
New tax law changes for 529 plans Allows up to $10,000 of 529 plan accounts to be used for K-12 tuition and related expenses annually in addition to post-secondary qualified education expenses. This means that it is possible to get money out of your 529 plan BEFORE you complete the FAFSA form without paying the penalty and taxes on the growth. Contact us if … [Read more...]
What is the Largest Asset Uncle Sam has? You might be shocked.
December 15, 2017 by
Pop Quiz - what line item is the largest asset in Uncle Sam's financial accounts? A) U.S. Official Reserve Assets B) Total Mortgages C) Taxes Receivable D) Student Loans The correct answer, as of the latest quarterly data, is ... Student Loans. This past week there has been an interesting article by Jill Mislinski in Advisor Perspectives. … [Read more...]
4 phases of a Financial Plan
December 15, 2017 by
1. Accumulation phase This is typically the longest phase and everything we do here will affect our future. We should perhaps try to look at this phase of planning from the future – when I am 70, 80, 90 – what will I hope that I have planned for if I were to look back from those ages? Will I have planned for Tax efficiency, a decent Rate of Return, what were … [Read more...]
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