Financial planning

8 Posts in this category
Posted By: CFP&WM On: Oct 23rd, 2009 In: Financial planning General info Retirement planning

Social Security Beneficiaries May Get Double Whammy

Social Security beneficiaries usually see their monthly benefits increase once a year, based on the cost of living escalators. These have usually been in the range of 1-4% per year. That could change in the next 3 years.

With the current state of the economy, the Congressional Budget Office projects an actual decline in consumer price indexes and expects no …

Posted By: CFP&WM On: Sep 2nd, 2009 In: Financial planning Investing Retirement planning

Understanding Your Investment Costs

In this low interest rate environment and with the stock market having tanked, saving a dollar can be easier than making one. Depending upon the size of your portfolio, cutting your investment costs could save you a bundle.

One client recently said, “What investment cost? I don’t pay any costs.” What he meant was that he did not know he …

Posted By: CFP&WM On: Jul 27th, 2009 In: Financial planning General info My soap box

Consumers would benefit if we call “A Spade a Spade”

76% of those surveyed did not know the difference between a sales representative of a Broker Dealer and that of a Registered Investment Advisor. The reason is the term “financial advisor’ is often utilized by stockbrokers, insurance agents and others who are looking to sell you a product.

A “broker dealer representative” is a salesman of stocks, bonds and mutual …

Posted By: CFP&WM On: Jul 8th, 2009 In: Financial planning General info Investing Retirement planning

NAPFA Launches Consumer Education Series to Help Americans Better Understand Personal Financial Issues

The National Association of Personal Financial Advisors (NAPFA), the country’s leading professional association of Fee-Only financial advisors, is gearing up to further educate people on a variety of topics in an effort to help Americans become educated consumers of financial planning advice and products.

The Consumer Webinar Series is a year-long initiative beginning August 7, 2009 that will provide an

Posted By: CFP&WM On: Jul 8th, 2009 In: Financial planning General info My soap box

What is Financial Planning?

Financial planning is the process of helping you to obtain your goals in life by making better decisions in the management of your finances. Everyone has different goals therefore everyone’s financial plan will differ. However, the process of financial planning is always the same and will include:

1. Defining your goals both short-term and long-term

2. Gathering the necessary information

Posted By: CFP&WM On: Jun 22nd, 2009 In: Financial planning Investing My soap box Retirement planning

Do Not Stop Funding Your 401(k)!

Regardless of what’s going on in the economy and the stock market, do not stop funding your 401(k) accounts!

Most workers with 401(k) plans have viewed their retirement savings as having trickled away with the current stock market plunge.  In addition, 25% of US employers have or are planning to eliminate 401(k) matching contributions as a way to make it …

Posted By: CFP&WM On: May 28th, 2009 In: Financial planning General info Investing My soap box

Bank of America is at it again!

A client recently called me and was shocked that the annual interest rate on the money market sweep account at Bank of America Investment Services is currently at 0% interest. Most other money markets are currently paying less than 1% interest.

Banks, and credit unions and mutual fund companies offer money market accounts.  These accounts consist of very short-term debt …

Posted By: CFP&WM On: May 20th, 2009 In: Financial planning General info

10 Tips for Retirees in These Difficult Times

The recent economic changes impact everyone and particularly those who are retired. Whether it is a drop in value of your retirement account or decrease in interest rates at the banks, everyone has noticed.

The question is what can retirees do now? Some things are fairly obvious, such as delaying a vacation or just spending less on trips.  Putting off …