Blog

I recently bought a new car and the process was downright enjoyable compared to yesteryear – because I was prepared. In contrast, I have a distinct memory of Lisa and me buying a Honda Civic about a quarter century ago and negotiating – and walking out of the dealership twice – for about 5 hours until we finally struck a deal. When we were signing our young lives away the dealership manager brought me an umbrella as a nice gesture. I told him, “If I’d known there was an umbrella in the deal, I would’ve signed a long time ago.” Well, if looks could kill this blog would have to be ghost-written.

Healthcare planning and retirement planning are as inseparable as catfish and whiskers. Get this, an average 65-year old man will need $131,000 in retirement to cover just premiums and prescriptions – the average woman, $147,000. These are expenses that could blow up one’s retirement plan. Learn here how a Health Savings Account may be just the solution while offering generous tax advantages.

Enjoy this month’s edition that features a helpful reminder about information security and a discussion about BlackRock Floating Rate Income Trust.

Not unlike formal living room furniture and nuclear weapons, target date funds are only to be used in case of a dire emergency. Target date funds are offered as investment options within a lot of retirement plans as low risk investments but, are they? Here are some flaws of TDF’s.

Earlier this week, the New York Times ran a front-page story on Sylvia Bloom, the recently deceased legal secretary from Brooklyn who bequeathed $6.24 Million to help disadvantaged students afford college. Ms. Bloom was the epitome of the Millionaire Next Door and readers of this blog know I believe strongly in the ability of us “regular folk” to become one too by following a few simple rules: 1) Live beneath your means; 2) Save for your financial independence; 3) Invest; 4) Get wealthy the old-fashioned way, steadily over many years.

During the 1996 presidential campaign, MTV asked both candidates whether they favored boxers or briefs. Bob Dole, as legend has it, answered “Depends”, as in he was so old he needed their incontinence protection. My answer for when you should take Social Security benefits is the same, it depends. Ultimately, when to file depends on what will benefit you the most in the long term, an answer a good financial plan will provide.

Enjoy this month’s edition that features updates on the treatment of charitable contributions under the new tax law and our privacy notice.

When the federal tax law changed late last year, part of the concern raised by many was the potential impact of the law on charitable contributions. Specifically, would people still be inclined to give even if they are unable to deduct them from their income taxes? Do people give because they believe in the cause or because they simply want the tax deduction? For charitable organizations, colleges and universities and other groups, these are serious questions that could materially impact their mission. So, let’s walk through the potential deterrent to contributing and offer a solution for those over the age of 70 ½.

Despite having an estimated net worth of about $250 Million, it has been widely reported that Prince died without a will. In other words, Prince did not make it clear legally who should inherit his considerable wealth and valuable stuff when he died. As a result, who ultimately receives his money will be tied up in court for years and years.

I love it when we’re about to experience a weather “event” – and when did a snowstorm become a snow “event”? What does that even mean? But, I digress. It’s fun to watch the competing weather forecasters on local TV: which one takes his jacket off first, which one rolls up his sleeves first, when does she announce she’ll be in the studio all night just for us? And, don’t forget, run to Kroger and get all the bread and milk your arms can carry!