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Forty somethings You have hit your stride: established in your career, home and family.  When...
Onto Your 30s Ah, now you are thirty, it should be getting easier.  You are established in...
Bonds Many investors have become interested in bonds in the last 18 years due to the...
Long Term Care As we age, our physical condition may deteriorate.  It may become more...
401(k) Loans I am frequently asked about the advisability of taking a loan from your...
College Funding College Funding College costs have been increasing faster than the general...

Wills

Do I have to? Really?  Yes, everyone should have a will.  I consider a will, the bare bones minimum estate plan.   I am not an attorney and I encourage you to seek competent estate planning attorney assistance with this very important legal matter. No one likes to think about the inevitable: your own mortality.  Death is part of life and we will all experience it.  Our experience will impact family members, business...

Credit Cards

Too many American families are burdened with credit card debt.  The average credit card debt per resident adult in the USA according to the G19 report , from the Federal Reserve on consumer credit in October 2015 was $3,766, another increase. Most important, is the story behind these statistics. And that story is the opportunity cost associated with credit card debt.  Quite simply the opportunity cost, which I believe is...

Forty somethings

You have hit your stride: established in your career, home and family.  When you think of all the tasks you are carrying, you may be tempted to add “juggler” to your resume!  Certainly when it comes to personal finances, you have many balls in the air: retirement, mortgage, college funding, budgeting and perhaps even some estate planning.  What is a person to do? Take your time and instead of being overwhelmed by all...

Fifty!! That’s too fast!

WOW! How did I get to be 50?  Life has become a blur.  My parents were right – the older you get; the faster the clock runs. Now the question may become, is there enough time left?  The answer is yes, and action is imperative. Goals for Fifty-somethings include: Increase retirement fund contributions If you have not done so already, identify and implement  the allocation plan for your retirement assets. Plan the...

What should I do if I receive an IRS Audit letter?

First, relax; you are not the only taxpayer receiving this type of letter. The IRS has audit rate has decreased in recent years.  For tax year 2015, the audit rate for all taxpayers is just under 1%.   Refer to IRS publication 1, “Your Rights As a Taxpayer” and Publication 556 “Examination of Returns, Appeal Rights and Claims for Refund”. Both are available at the IRS website: ww.irs.gov.  These...

401(k) Loans

I am frequently asked about the advisability of taking a loan from your employer retirement plan. Yes, you can borrow from your 401(k). Yes, it is easy money to access.  Typically, the minimum loan amount is $1,000 and the maximum loan amount is no more than $50,000 or 50% of your vested account balance, whichever amount is greater.   Some employer plans will allow employees to have multiple loans outstanding at the same...

Finding a Financial Advisor

I hesitated for many months before writing this post, I don’t want to be self serving here, I view my posts as an attempt to provide education and guidance to the people who invest their time to consider my thoughts.  With the disclaimer out of the way, there are many websites which will give you excellent questions and criteria to help you interview and select an advisor.  The intent of this post is to help you...

Onto Your 30s

Ah, now you are thirty, it should be getting easier.  You are established in your career, you have picked up some wisdom and appreciate,  beyond the academic theories of the University, how businesses in the real world operate.  (Not that clean or efficiently as we all thought in our 20s, but they do work.) You are making decent money, having progressed in your career, but you are realizing that the clock seems to run a...