In today’s corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it carefully to make sure that the offer fits your needs. Continue reading
Category Archives: Financial Planning
My company has a profit-sharing plan. How do these plans work?
A profit-sharing plan is a defined contribution plan in which your employer has discretion to determine when and how much the company pays into the plan. The amount allocated to each individual account is usually based on the salary level of the participant (employee).
How to Estimate Your Retirement Income Needs
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors Continue reading
6 Ways Your Finances Affect Your Relationships
If you can’t help falling in love, and you think that love will keep you together remember that the power of love is not enough if you and your spouse cannot agree on how to handle your finances.
Ok, enough of the romantic puns!
According to Psychology Today*, money issues are the top reason relationships fail. Arguments over money tap into some of our deepest emotional needs and fears, such as trust, safety, security, power, control, and survival. Continue reading
Test Your Knowledge of Financial Basics
How well do you understand personal finance? The following brief quiz can help you gauge your knowledge of a few basics. In the answer section, you’ll find details to help you learn more.
The True Cost of Clutter in Your Life
It is the beginning of a new year. We have just finished celebrating the holidays and we all received wonderful gifts to add to our already full homes. We look around and wonder where will we put everything. Then we must consider, will we spend more money to buy containers and shelves and storage units to store our ever-growing number of belongings? Continue reading
What You Need to Know About the New Tax Law
The Tax Cuts and Jobs Act legislation was signed into law on December 22, 2017. The Act makes extensive changes that affect both individuals and businesses. Some key provisions of the Act are discussed below. Most provisions are effective for 2018. Many individual tax provisions sunset and revert to pre-existing law after 2025; the corporate tax rates provision is made permanent. Comparisons below are generally for 2018. Continue reading
Update on the Proposed Tax Reform Legislation
On November 2, 2017, House Republicans released their comprehensive tax reform plan, the Tax Cuts and Jobs Act. Then, on November 9, 2017, Senate Republicans released their own plan. The two plans have much in common, but also have significant differences.
7 Ways Grandparents Can Help Their Grandchildren Financially
There is nothing like the love grandparents have for their grandchildren. Grandparents love their grandchildren to the fullest, no matter what.
Because of this special relationship, Grandparents often think short term when gifting money to their grandchildren. Instead Grandparents need to plan ahead and be intentional as they strategize on helping their grandchildren financially throughout their whole life. Continue reading
What to Know About Getting Remarried
If you’re planning to remarry, you must decide how you and your fiance will combine your finances, and you’ll need to plan a financial strategy that considers the assets, liabilities, and financial responsibilities that each partner brings to the marriage. You’ll find that financial planning for marriage is more complicated than it was the first time you got married, because your life isn’t as simple now. Continue reading
