By Elaine Floyd, CFP ® The usual method for estimating spending needs in retirement is to take your post-retirement household budget and tack on an inflation rate, such as 2%. Not so for health expenses. Some expenses increase at a faster rate than the inflation rate you use, others at a slower rate, but overall, expenses …
By Elaine Floyd, CFP ® What is the best approach if you need to sell an inherited estate, excess inventory from your business, or high-priced collectibles you no longer want? Use these tips on selling property at auctions to help you handle the sale and get the best price. When you want, or need, to sell …
By Elaine Floyd, CFP ® The decision on whether to sell or rent your home is trickier than other financial decisions because of the emotional ties you have to your home. To make the best decision possible, evaluate the income, growth, and tax advantages of selling vs. renting and how it would advance your long-term goals. …
Sell or Rent: Deciding What to do With Your Home Read More »
By Elaine Floyd, CFP ® You may need to transfer assets for all sorts of reasons. A working knowledge of various transfer techniques can help you determine when it’s appropriate to move money around, and how to minimize the tax and legal implications of the process. Asset transfers are an important part of financial planning. As …
By Devin Kropp, Horsesmouth Associate Editor Cyber-attacks are launched at us every day. Do you know the warning signs that your security has been compromised? With cybercriminals constantly prying at your door, it can be tough to know if one of them had gotten through your cyber-defenses. Weekly, we hear news of data breaches exposing …
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 …
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