Resources

Newsletter

(to educate, inform and amuse)

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Good Debt?

At the start of the year, U.S. household debt reached a record high of $17.3 trillion, according to data from the Federal Reserve Bank of New York (NYFRB). Overall, U.S. household debt increased in 2023, with credit card debt at the highest increase of 16.6%. On active credit card accounts a balance was carried on […]

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Joint or Separate

When we are working with clients who are in the process of joining households, we are often asked: how should we handle our finances.  The answer of course is: it depends! Many households have dual income earners and fewer people are financially dependent on their significant other. This means separate financial arrangements have become a […]

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What is IRMAA and why should you care?

When I hear IRMAA, I think about a friend of mine: Irma. However, that’s usually not what it means: IRMAA stands for Income-Related-Monthly- AdjustmentAmount. It applies to Medicare premiums and it is a method to means-test Medicare. Means-testing is a method that determines that those with “means” (i.e. the wealthy) pay more than those without […]

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Food wasted is money in the trash!

A New Year brings with it good intentions and resolutions to be better, like eating healthier and saving money on eating out, taking out or ordering in are often high on the list. If you consider that about 20% of food purchased last year ended up in the garbage, according to a Wall Street Journal, […]

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Life Changes that can derail your Financial Plan

In a financial plan, we usually have two, three or more goals in mind to plan for. When we are starting our life journey, we may want to save for a home, pay down student loan debt and get a better understanding of financial opportunities. As we go further on the journey, our goals might […]

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It’s time for year‐end planning!

It’s time to get charitable contributions in line, figure out deductions and make sure you’ve contributed the maximum to your retirement accounts. For tax year 2023, the standard deduction increased to $13,850 for single filers and $27,700 for married couples filing jointly. Therefore, if possible, make sure that your itemized deductions add up to more […]

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Money Obsessions

A recent survey showed that more than half of all Americans fear for their financial futures. Another study says that 77% of Americans feel anxious about their current financial situation. Even if both of the surveys overstate the numbers, the fact is that many of us have phobias about our finances. Many are rooted in […]

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The Comfort of Insurance?

As Hurricane Idalia made its destructive way across northern Florida, Georgia and South Carolina, it was a reminder that this has been a tough year for natural disasters. Tropical storms and hurricanes, historically bad forest fires and power outages during killing heat waves occurred this year and the expectation is these will continue. The people […]

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The high cost of living until we die

Last month’s newsletter discussed the importance of cash flow diversification in retirement. But many still worry, in the back of their minds, that no matter how much they have saved, invested and planned, they will run out of money. We’ve also had questions from someone whose parents have run out of money and need care. […]

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The Financial Side of Marriage

We often forget that Marriage is more than romance. We recently had several questions about whether it would make sense financially to get married, instead of living together. This week the House passed the Respect for Marriage Act with bipartisan support, which safeguards the right to same-sex marriage nationwide, and now awaits a Senate vote. This compelled […]

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Your Digital Assets

Many people don’t realize the extent of their electronic and digital lives and the potential problems they’re leaving for others to deal with.  Estate planning law has recently caught up to developments in technology.  an executor to manage computer files, web domains, and virtual currencies unless the will or other document specifically prohibits the access. […]

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Luesink Stenstrom Financial  |   475 Park Avenue South, Suite 2100, NY, NY 10016 USA   |   (212) 405-1609   |   info@LuesinkStenstrom.com

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