By Elaine Floyd, CFP ® The vast majority of American citizens spend their whole lives in the U.S., paying into the U.S. Social Security system and eventually drawing benefits which are deposited into a U.S. bank account. But as with all things Social Security, there can be complications. Here are some examples of how Social Security …
By Debra Taylor, CPA/PFS, JD, CDFA The SECURE Act is by far the biggest retirement-oriented legislation to be enacted in over a decade. Many Americans are left wondering, “What does this mean for me?” Here’s what you need to know. The SECURE Act, passed in late 2019, is by far the biggest retirement-oriented legislation to …
By Elaine Floyd, CFP ® In most families, the needs and interests of family members overlap. Even if your money is separate, planning needs to happen for all. It is normal, when working with your financial professional, to focus on the needs of your immediate family. If you are a baby boomer, for example, you are …
By Elaine Floyd, CFP ® For some families, dependent benefits for children with disabilities are an important factor in the Social Security claiming equation. Here’s what you need to know. Children with disabilities such as Down syndrome, autism, or some other type of disability generally do not qualify for Social Security benefits. In order to receive …
By Elaine Floyd, CFP ® It might look like “sudden money,” but cash windfalls are often easy to spot—sometimes years ahead of time—if you know where and how to look. Never is financial advice more urgently needed than when you come into a large amount of cash. Complacence is no longer an option when you look …
By Elaine Floyd, CFP ® The most accurate and reliable way to determine your spending needs in retirement is to sit down and make up a budget projecting costs in the areas of housing, utilities, food, transportation, leisure activities and so on. Depending on how your life will change (or not) after retirement, you can base …
By Nicole O. Coulter Discover what it means to be wealthy or successful. If you’re like most, it takes a few hard knocks to understand what life truly has to offer. Several years ago at the Berkshire Hathaway annual shareholder’s meeting in Omaha, Neb., a precocious 10-year-old investor stood bravely in front of a microphone …
6 Wealth and Success Lessons from “The Ultimate Gift” Read More »
By Elaine Floyd, CFP ® Most people tend to underestimate their life expectancy. But thinking you might live to a very old age might lead to better planning decisions. Life expectancy is a critical element in Social Security planning. Because benefits continue for life, the total amount you stand to receive over your lifetime hinges on …
By Debra Taylor, CPA/PFS, JD, CDFA With these year-end giving strategies, you can make charitable donations in ways that are most beneficial to your financial situation. Many people have charitable inclinations, however, they do not realize the variety of ways they can donate or that through donating they can receive significant tax breaks. Even though …
By Elaine Floyd, CFP ® Social Security is more complicated than most people think. Here are six of the most common questions that come up on Social Security. With the baby boom generation entering retirement, there’s a lot of demand for good Social Security information. People are confused—both about how the system works, and how these …
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