Bruce Helmer and Peg Webb
As parents, we are tasked with teaching our children about the world around them and take great pride in seeing them succeed. One great way that you can help your children put their best foot forward in the world is to teach the value of money. With Father's Day being this weekend, we thought we'd take a moment to talk to all of the dads (and moms) out there about ways to teach your children about money during quality, family time. For the Little Ones
There comes a time in the lives of many retirees when it makes sense to sell the family home and downsize to a more appropriately-sized residence. This involves a series of decisions— everything from where you'll live, how much you want to spend and whether you'll rent or buy your next home. Today, we'll focus on that last question with a discussion of the pros and cons of renting or buying in retirement. The Pros and Cons of Buying
When we sit down to create a comprehensive financial plan for our clients, we often hear the desire to help support children and grandchildren. And there are numerous ways to make that happen, but one option that can go a long way towards helping your family, and provide significant tax benefits for yourself during retirement. How a 529 plan works
The weather is warming up and our minds are thinking of long summer days and warm summer nights. In our opinions, there are few things sweeter than those first few summer days, but all the fun we have this summer will come with a cost. Memorial Day weekend is often considered the unofficial start to summer, so we thought now would be a great time to talk about which items to add to your summer financial checklist. Do a Home Energy Audit
Having enough money to last you all the years of retirement is one of the biggest fears we hear from clients. A common investing goal for couples is to have $1 million dollars when they retire—and that's a great goal to have. But the question remains, is that really enough to retire on? We know this isn't the answer you're hoping for, but it depends. There are a variety of factors that determine how much you need to save for retirement, like: • Whether your savings are tax-deferred or taxable, • Your personal and family medical history,
Becoming a parent is one of the hardest, most rewarding jobs a person could have. However, when it comes to your finances, the little people who make us parents can make planning a bit more difficult. While both mothers and fathers can play a significant role in both parenting and determining a family's financial future, in honor of Mother's Day, today we're going to focus on some financial planning tips for moms. Tip No. 1: Be Aware of Your Financial Situation Statistically, moms are likely to live longer than dads.
Think about the life you want to live as a retiree. Now think about how much money you'll need to make that happen. We guess you're thinking of a pretty big number. And one way that many of us who dream of retirement one day save enough to actually stop working is by investing and earning returns on our savings.
Whether it's because you are retiring, were laid off or are making a career change, leaving a job likely means figuring out what to do with your old 401(k). You have a few options. Option No. 1: Keep Your Money Where It is Or Roll into New 401(k)
Retirement is expensive. Overall, we'd say that's pretty common knowledge. But knowing that doesn't mean we're properly prepared, or that we know what exactly to prepare for. This week, we've put together a list of retirement expenses that are frequently overlooked and give you some tips on how to think about and save for them. Healthcare and Eldercare Costs
Let us paint you a picture. You're 71 years old. You give money to your favorite charities every year, but still have to take the standard deduction, and you just began taking your required minimum distributions last year, which are thousands of dollars more than what you spend each year. That means you are also paying huge amounts of tax. And because you are taking lots of money that you don't need, you're also gifting sizeable portions of your income to your family members. And, you guessed it, you could be paying tax on that, too.