(to educate, inform and amuse)
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Frequently clients share concerns about an aging parent, grandparent, or friend who seems to be acting differently and not be their normal self. We had questions ourselves and set out to learn more about the topic; we want to share some of our findings. It’s natural to worry about a loved one—or even ourselves—as we […]
Read more...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 […]
Read more...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 […]
Read more...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 […]
Read more...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, […]
Read more...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 […]
Read more...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 […]
Read more...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 […]
Read more...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 […]
Read more...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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