This article explores four elements of an investor’s risk profile – risk capacity, risk required, risk tolerance and risk perception. Understanding each type of risk is an essential element of building an investment portfolio that can both meet your specific investment needs, while allowing you to sleep easy during times of personal and financial stress.
Increasingly, families have to figure out how to best deal with dementia and other memory-related impairments that naturally happen as people age. This is especially true when navigating the complex and often times confusing area of personal finances. So, what can you do to prepare yourself should you, or a member of your immediate family develop dementia? Here are a few ideas that you may find helpful.
Find out the maximum contribution limits that can be made to most retirement savings accounts including 401(k) plans, 403(b) plans, traditional and Roth IRAs for 2015.
There is no doubt that pensions are an extremely important asset and making decisions regarding these plans can be daunting and stressful. This is especially true since pension decisions are irrevocable! This article addresses common questions that should be considered when making decisions about your pension.
It looks like 2014 is going to be a huge year for mutual funds making capital gain distributions. While on the surface capital gains sounds like a good deal, but in reality they can pose a tax nightmare for some investors – especially people who invest in mutual funds in non-retirement (taxable) accounts. This article explains the problem with mutual fund distributions and provides a resource for those performing year-end tax planning.
Are you seeking ideas to reduce your tax burden this year? This article provides insight into a number of financial planning strategies that could prove effective at reducing your taxes in 2014.
In order to make your meeting with the estate planning attorney more efficient and productive, here are few items that you need to think about or decide on.
Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.
Many people have questions regarding their Social Security retirement benefits. This article addresses several of the more common questions that people often ask us.
When it comes to taking account distributions in retirement, which account is best – IRAs, Roth IRAs, Brokerage accounts or 401k plans? Also, are there tax strategies that could be employed now to minimize taxes in the future?
With over 20 years in the investment industry, we have helped clients navigate through a number of economic and market cycles. Through the years, we have developed our own set of descriptive names that are used as an indication of where we are in the market cycle. These names are generally based on client emotions and range from “malaise” to “exuberance”. Currently, we are in what we call the “investor complacency” phase.
Chip Hymiller, CFP® was recently interviewed on the show Community Matters with host, Bill LuMaye. The topic for the show was financial wellness. Chip’s segment of the show highlighted the need to prioritize financial goals, manage debt and develop a strategic long term plan.
Do you know what to expect when it comes to the cost of health care during retirement? Projecting health care costs is a major component for those who are approaching retirement. Find out how much you could spend.
Is it best to contribute to your company sponsored 401k plan, a Roth IRA, or a personal brokerage account? The answer depends on many factors.
When it comes to financial planning, one of the easiest and most important things to accomplish is an overall review of your estate plan. We suggest that you review your estate plan every couple of years or when there are changes in your family that may impact your estate planning. Here is a checklist of estate planning items to review that may be helpful.
There are a number of important tax law changes that may impact your financial planning decisions this year. Here are several of the most common changes that you need to be aware of.
With the changing of the year, it is important to review your retirement savings strategy. Here are the 2014 contribution limits for the most common types of retirement plans.
Through hard work and sound financial planning, some find themselves in situations in which they are contemplating intra-family financial planning. That is, identifying financial planning techniques that can be used to financially strengthen the next generation—children and grandchildren.
Emotions can play a major role when it comes to investing. Understanding common investor biases can help prevent costly investment mistakes.
Is the economy strengthening, or will economic growth stall with the discontinuation of quantitative easing? Here are some thoughtsto consider.