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"Customized Solutions ● Objective Advice" |
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Financial Planning Update:
Estate planning is an essential part of anyone’s personal finances -- no matter how wealthy you are. But even for those who have been diligent about planning for their spouses and heirs, this is a year when it may make particular sense to re-examine your strategy. With the nonstop flurry of legislative activity in Washington, Congress has still not acted on the phase-out this year of the estate tax. If nothing is done this year, the heirs of any person who dies in 2010 won’t be liable for any federal estate taxes, no matter how big the estate. (The carryover basis rules for 2010, however, may give rise to additional planning considerations.) more
The ancient Greek expression “Know Thyself” carries a lot of weight when it comes to investing. Indeed, an investor’s personality can speak volumes to their ability to spot opportunities and avoid risk. If more people truly “knew themselves” when it came to money over the last decade, it’s arguable we would not have seen many of the individual excesses and mistakes that marked the recent economic slowdown. more
If you’ve never met with a financial planner before or if it’s been years since you’ve visited one, you need to find a planner then prepare for your visit. Generally, you should research individual financial advisers or firms, and you should look to trusted friends and family for advice. You should interview two or three advisers by phone before you sit down and understand their compensation structure.It’s also important to discuss your overall goals with the planner you’re interviewing so you can gauge their ability to help you meet those targets. more
Any financial planning process begins with necessary changes in financial behavior. The degree of change varies based on financial priorities, but in the end, it’s about adopting good habits and abandoning bad ones. Before you take any of the following steps, it makes sense to talk to an expert who can help you see your whole financial picture. A financial planning professional can examine all your sources of income and expenses and find the most efficient ways to cut expenses, pay off debt and boost the money you have for saving and investing. more
Ways to Afford Your Retirement Account Catch-Up Contributions Turning 50 might not be everyone’s idea of excitement, but when it comes to saving for retirement, 50 is when things start getting a lot more interesting. That’s because people age 50 and over can make what are known as “catch-up” contributions to IRAs and most workplace-based retirement plans. These special contributions are in addition to regular contribution limits and allow individuals to maximize the amount of tax-advantaged retirement savings they can stash away. more
Scott A. Bosworth, Vice President, Dimensional Fund Advisors Research indicates that humans are not naturally wired for prudent, long-term investing. Scott Bosworth describes common forms of behavioral bias and discusses how these biases influence investment decision making. He also explains how knowledge and discipline can help investors control their instincts for a better investment outcome. More Financial Planning Articles. . . Getting the Kids Involved in Saving for College Making Your Employer a Partner in Your Financial Planning Losing Your Inheritance to Uncle Sam - Or Others Consider a 529 Plan When Saving for College Navigating The Federal and State Tax Maze What is the
Real Reason You Should Invest?
Steven P. Copeland, CFP® 53 Rossmore Avenue Bronxville, NY 10708 (914) 771-5277 steve@safe-harborplanning.com Regulatory & Disclosure Information for Safe Harbor Financial Planning: All information contained herein is for informational purposes only and does not constitute a solicitation or offer to provide financial advice or investment advisory services. Any follow-up, or individualized response to any person that involves either the effecting or attempting to effect transactions in personal financial planning services, or the rendering of personalized investment advice for compensation, will not be made absent of compliance with state investment adviser requirements, or an applicable exemption or exclusion. In addition this material is not meant to provide, investment advice or financial planning advice. This web site does not purport to be a complete description of our services or performance. It is not our intention to state or imply in any manner that past results and/or profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.HOME WHY FEE ONLY? ABOUT US PLANNING INVESTING MEET THE PLANNER INFO CONTACT US
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Safe Harbor Financial Planning is a Fee-Only financial advisory firm located in Bronxville NY and serving the NYC tri-state area. For more information, see About Us. |
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Why
2010 is the Year You Should Pay Closer Attention to Your Estate Plan
How Personality Traits Affect Financial Planning
Moving Toward a No-Debt
Lifestyle: Steps to Consider
