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For Individuals

Should You Earn More Money or Spend Less Money to get Out of Debt?

Should You Earn More or Spend Less?

Debt can be so overwhelming… Whether it’s student loan debt or credit card debt, it all hurts your wallet the same way. If you want to pay it off, you have to decide between two things… or do you?

Is Spending Less Money the Best Option?

When you are in debt, you hear often that you need to spend less money if you ever want to get out of debt. The most frequent phrase used on this side of the argument is the “latte factor”. Basically, this phrase is saying that you should cut out a latte a day to get out of debt or invest in your future. It does not just mean lattes, however, it is talking about any unnecessary expenses. Maybe, you do not need cable anymore because you only watch Netflix and Hulu.

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Are We Comfortable with the Uncomfortable?

Are we now comfortable with the uncomfortable?

Notching its eighth consecutive quarterly advance, the S&P 500 rose approximately 4.4% in the past three months. What’s more remarkable is the resiliency of the market in the face of events that would historically cause periods of panic, leading to increased volatility as equity markets sell off and investors flock to the safety of bonds. In years past, life altering events typically force the market into disarray; however, despite recent events such as the standoff with North Korea, the multitude of natural disasters, the Charlottesville unrest, Catalan turmoil in Spain and the Las Vegas shooting, the equity markets keep shrugging off every occurrence and continue chugging along. The lack of inflation, steady economic growth, accommodative monetary policy, strong labor market and very strong earnings growth have created a robust tailwind for equities, creating a sense of investor complacency with what would traditionally be viewed as an uncomfortable turn of events.

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Life Insurance: A Key Component of a Financial Planning

Life Insurance: A Key Component of a Financial Plan

If asked what comes to mind when thinking of financial planning, many would likely mention topics such as saving for retirement, planning for college, creating strategies for retirement income, or structuring a portfolio with an eye toward maximizing tax efficiency. Indeed, planning for our later years, or saving to accomplish certain goals, tend to be the primary focus for many in financial planning. Equally important, we believe, is the importance of incorporating life insurance strategies into a financial plan that will address specific needs such as providing for loved ones, or ensuring a business’ continuity, if and when one is gone.

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ROTH vs Traditional IRA’s: What’s the Difference?

ROTH vs Traditional IRA’s

What’s the Difference?

The ROTH after tax and the Traditional Pre-tax method of saving is almost identical except for one variable, which is a person’s income tax. A person’s income tax rate will be a key factor in deciding which avenue to take, pre-tax or not.

How Are Personal Income Tax Rates Determined?

An income tax rate is based on the amount of taxable income a person brings in. The higher the taxable income, the higher the income tax rate. A person’s filling status, meaning if they have dependents or other deductions, will directly affect the tax bracket a person falls in. More income, or higher wages equals a hirer tax bracket.

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What To Do With Medicare If You Work After 65

What To Do With Medicare If You Work After 65

Advice For Those That Have Coverage Through Their Employer

Many of my financial planning clients are introduced to me as they approach age 65 and have questions related to Medicare, specifically: “What do I do with Medicare if I plan on working past age 65?” In this post, I will go over a few of the more common scenarios that I encounter while working with clients that plan to continue working past age 65, and answer a few of the questions that I tend to field on a regular basis. If you have an individual health insurance policy that is not through an employer, chances are you will not be able to keep that policy when you become eligible for Medicare. This article is for those that have coverage through an employer and have additional decisions that need to be made.

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What To Do With Medicare If You Work After 65

What To Do With Medicare If You Work After 65

Advice For Those That Have Coverage Through Their Employer

Many of my financial planning clients are introduced to me as they approach age 65 and have questions related to Medicare, specifically: “What do I do with Medicare if I plan on working past age 65?” In this post, I will go over a few of the more common scenarios that I encounter while working with clients that plan to continue working past age 65, and answer a few of the questions that I tend to field on a regular basis. If you have an individual health insurance policy that is not through an employer, chances are you will not be able to keep that policy when you become eligible for Medicare. This article is for those that have coverage through an employer and have additional decisions that need to be made.

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