Financial Planning

Did You Know We're Partnered With XYPN, NAPFA, And The Fee-Only Network?

Did You Know We're Partnered With XYPN, NAPFA, And The Fee-Only Network?

With all of our terminology and acronyms in the world of finance, sometimes consumers can feel as if they are being spoken to in a foreign language. The confusion that results can lead to mistakes and regret, especially in the area of advisor compensation. Whether it’s fee-based, fee-only, or commission-based, the type of compensation model an advisor uses can make a huge difference in the kind of advice you receive and the type of relationship you are able to build with your advisor.

What We Do And How We Can Help

What We Do And How We Can Help

If there’s one thing we know for certain in life, it’s that change is inevitable. And while we recognize that we will walk through different phases and reach multiple milestones, we often don’t realize the financial impact they can have on our lives. Many aspects of life are outside of our control, but one thing you can control is how prepared you are for life’s biggest moments.

Ask An Advisor Series - Housing

Ask An Advisor Series - Housing

Given what's at stake with buying and selling a house, today's Q&A article is certainly worth the read. Here is a quick preview of the topics that we will be diving into:

  • Are we in a housing bubble?

  • Why are home prices soaring?

  • When is it better to choose a higher interest mortgage with no PMI versus a lower interest rate mortgage that includes PMI?

  • What are the tax consequences of selling a primary residence at a gain?

How to Leverage Tax Reform Savings into More Wealth

How to Leverage Tax Reform Savings into More Wealth

As the April 17 tax filing has come and gone, one thing on the mind of many taxpayers now that they have caught their breath, is how much more or less their tax liability will be as a result of the Tax Cuts Jobs Act (TCJA) -- also know as the new tax law enacted by the Trump administration. According to Howard Gleckman of the Tax Policy Center, about 80% of taxpayers will see a reduction in their tax liability, but about 5% will notice an increase in what they owe.

Ask An Advisor Series - Individual Retirement Accounts (IRA)

Ask An Advisor Series - Individual Retirement Accounts (IRA)

How does a Roth IRA grow over time? Think of the Roth IRA itself as a shield around your money that provides tax-deferred growth and then when you go to retire you can take out all of the growth and contributions tax-free. The avoidance of tax is not available had you just invested with after-tax dollars and did not own a Roth IRA. 

How Financial Planning is Similar to Football

How Financial Planning is Similar to Football

A successful football team like a successful financial plan requires a high level of synergy across the board from several different components. In football, a significant amount of coordination from all levels of the organization helps drive the collective group towards working to achieve their end goal -- championships.

The Value of Financial Advice: Quantified & Explained

The Value of Financial Advice: Quantified & Explained

Look I get it, Americans are busy people, especially if you are raising a family or knee deep in your career. Quick answers have become the expectation. The problem is financial planning is very circumstantial and therefore a good answer to the value question must be adjusted to the person asking it. Rather than manufacture a blanketed response, the following is a detailed guide to the quatifiable value of financial advice.

The 9 Biggest Ways Trump's Tax Reform Hits Your Wallet

The 9 Biggest Ways Trump's Tax Reform Hits Your Wallet

With the recent, yet surprising, cooperation between the White House and Congress, the Trump tax reform bill is set to take effect starting this new year. Don't worry your 2017 tax returns are not impacted. However, the tax law changes will affect personal incomes for the next 10 years, starting in 2018. So the question many of my clients have been asking me is, how does tax reform impact our personal bottom line?

Financial Rules of Thumb

Financial Rules of Thumb

Do you find it difficult to sort through all the "expert opinions" and confidently know how much to save for retirement, how much debt is appropriate, or how much to set aside in savings for emergencies? You are not alone. To make life easier, Mellen Money Management created a list of benchmarks that can be useful for anyone looking for general guidance on whether or not they are on track financially.

Equifax Data Breach: How to Protect Your Identity

Equifax Data Breach: How to Protect Your Identity

FUBAR! A saying that originates from our military and aptly sums up the recent data breach at Equifax. If you don’t know what the acronym means, I suggest doing a Google search, so that I can keep this blog PG-13. I am tempted to yell every curse word in the book because my wife and I had our information compromised. From what I gather, anyone with a credit history is at risk too. Insane!

Financial Lessons from Hurricane Irma's Destruction

Financial Lessons from Hurricane Irma's Destruction

Based on estimates by AccuWeather, the cost of Irma's devastation to our economy will be somewhere around $100-billion. If that doesn't make your jaw drop, it should. That amounts to 0.5% of the United States' GDP.Hurricane Irma's destruction is an unpleasant reminder to us all that there are life-altering costs associated with such natural disasters. Unfortunately, the financial aftermath will hit some people's wallets a lot harder than others.