I believe based on your risk tolerance and what you are trying to accomplish with your investments will determine how much money should be in each box.
There are many good reasons to buy life insurance, but the reason you are buying it will help you determine whether you should buy term insurance or permanent life insurance and also how much life insurance you should have.
If the only income you had during the year was Social Security income, then your benefit generally isn’t taxable.
Some people think Social Security is just a retirement program, but in fact there are other benefits, including disability and death payouts.
MYTH #1: Social Security benefits will provide most of the income you need in retirement.
Will vs living trust? It all depends on what you are trying to accomplish.
This is the one legal document everyone over 18 should have.
Many adults do not understand why setting up a will should be a priority for them. I will help clear up this confusion with 4 reasons to get a will now.
We give you the facts from the IRS, PLUS 6 benefits of participating in your 401k plan at work.
If your goal is to accumulate money for a grandchild (or a child), both options are good, but let’s look at the pros and cons of each strategy.
Is it possible to achieve both of these goals in today’s economic environment?
When it comes to your financial plan, it is important to understand the difference between “Qualified” money and “Non Qualified” money.
When dealing with a volatile market, sometimes the most difficult challenge is to manage your emotions.
Since people are living longer today, the greatest fear that most retirees have is the fear that they will outlive their assets.
Despite media reports warning of the impending payroll tax increase, many Americans were caught off guard when they received their first paychecks in 2013.
Here are five key things you should know when starting a Roth IRA.
When can I file taxes for 2012? Since the American Taxpayer Relief Act of 2012 was passed so late in the year, it has created a logistical nightmare when it comes to filing your tax returns for the IRS. So I wanted to give you an alert about when you should file your 2012 tax returns and what to expect.
Improve Credit Report: 3 Steps to Take Now. First, how can I correct errors on my credit report? Under the Fair Credit Reporting Act, you have the right to have any incorrect or misleading information removed from your credit report.
Although most of us recognize the importance of sound retirement planning, few of us embrace the nitty-gritty work involved. With thousands of investment possibilities, complex rules governing retirement plans, and so on, most people don’t even know where to begin. Here are four suggestions to help you get started.
So exactly what are Required Minimum Distributions? Also known as RMDs, these are government imposed withdrawals that you are required to take at age 70 ½. Learn more here.
If you lost your job, how much will you need to pay your regular monthly expenses?
Is it better to save your extra cash or pay off debt? To answer this question, you must decide how your money can work best for you.
The old financial adage is there are only two ways to make money. Either go out and earn more or cut your expenses so that you spend less. The best is if you can do both. So today, I thought I would share some thoughts on cutting expenses.
If you were to go to the Nursing Home, do you believe that Medicare will pay for your long term care needs?
However, for those who cannot self-insure or who do not want to rely on the government, family or friends for your long term care needs, long term care insurance can be a wise solution.
If it’s been more than five years since your last life insurance checkup, you may be missing opportunities to take advantage of newer life insurance policies that are more cost-effective and competitive.
An all too common retirement planning mistake is going it alone. This usually results in missed investment opportunities, sloppy planning, and lax savings schedules. Enlisting the help of a financial planner is a smart move at any age to avoid retirement planning pitfalls.
A common investment pitfall is spending far too much time trying to pick individual stocks that will increase in value. It’s much more important to understand proper diversification.
Do you desire an early retirement? Today, I want to share with you a savings strategy that leads to early retirement. This strategy is simple to say, but can be harder to follow.
Several questions arise as you near retirement concerning your life insurance needs. Should you keep that existing policy in place? If so, should you change the coverage amount?
“Should I choose a single life annuity payout from my pension or a joint and survivor annuity payout, which will make payments to my spouse when I die?”
We recently got this question from an FTMWeekly radio listener: “I forgot to make my IRA Contribution for tax year 2011. Is it too late to make the contribution now?” NO. Here’s why…
The Medicare open enrollment period is now here and this is the time during which people with Medicare can make new choices and pick plans that work best for them. Here’s four questions to be asking now.
Over the last few episodes of financial strategies I have been talking about why cash value life insurance should be considered when developing a person’s overall retirement planning strategy. So today, I want to continue by talking about different ways of taking the money out of your cash value life insurance policy and the rules to each.
What exactly is cash value life insurance? What are the benefits of using cash value life insurance as a savings vehicle?
As we start the new year it has been exciting to see how many people are taking advantage of the Christian Financial Advisors Network. I have talked with many people around the country who do not have a financial advisor or would like a second opinion on the advice they are currently getting.
Today we are going to talk about creating an emergency fund. You have heard Jerry talk about the difference between savings and investments quite a bit, and I believe as he does that creating a savings or as I like to call it, an emergency fund, is one of the first things that people need to do immediately to help them build a successful financial plan.
I love this time of year because as I talk with people they are establishing new year’s resolutions. So I want to change our format a little bit. In the past I have given many ideas on ways you can safely grow your assets and how to protect them. But I would like to start this year, developing financial strategies that will help you achieve your goals.
Today let’s focus on the effects of Probate, liquidity issues, what happens if you become incapacitated and some goals you may want to consider in developing your estate plan.
Today let’s focus on State Death Taxes and Federal Income Taxes. States impose their own death taxes. You should be aware of what the death tax laws are in your state and how they may affect your estate.
If you don’t normally review your investments at the end of each year, 2010 might be a good time to start. And if year-end investment planning is already part of your routine, you might want to pay special attention this year.
Who is eligible for this benefit? A veteran aged 65 or older or permanently and totally disabled from a non-service connected disability that is not the result of his or her willful misconduct is entitled to a pension.
Today, I would like to focus on one of the 5 building blocks to a good financial plan that Jerry has been teaching for sometime now and that is protection through life insurance.
The times we are living in have really escalated the need for financial planning. I believe people are less fearful of the future if they have established a financial plan for themselves and their families because being prepared is the best solution to relieving stress and fear.
This week when I met with a client that is retired, I had to explain the concept of, “If you are not financially strong, then you will not be in a position to help anybody else.” If our own government would understand this concept, maybe we would not have had to experience the financial crisis we are currently in.
Hi Jerry, this week I came across a very interesting article from the Associated Press written by Dan Wagner, AP Business Writer dated July 30, 2010. The title of the article is “Bernanke financial disclosure shows no-frills plan”. Here is what he reported.
The year 2010 presents a great opportunity for those folks who own a 401(k) plan or a traditional IRA. Most people who own a 401(k) have never asked their plan administrator if their plan allows them to do an in-service rollover for non hardship cases.