There’s no denying that Americans are in love with their credit cards; but increasingly, the romance is rocked by the actions of unsavory characters seeking to come between them. More specifically, they’re seeking to steal your credit card information and they are relentless in pursuing any and all technological means to get it. They will go after the big, “secure” data bases of our banks and credit card processers, and they will go inside your...
Jeanne Sullivan |
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By Philip Lee, CFP® Last week my son asked me about charities and why or how people give to others. What a great conversation to have with a son – so I explained that I like to help others who have been less fortunate or need help during a transition such as a job loss or a divorce. Last year I helped to serve meals at a women’s shelter and gave away clothes that no...
There are a myriad of strategies for cutting your tax bill leading up to and during retirement. Philip Lee, CFP® is quoted in this recent The Fiscal Times article about the importance of asset location in investment portfolio designs: http://www.thefiscaltimes.com/2016/09/20/5-Ways-Cut-Your-Tax-Bill-Retirement
Jeanne Sullivan |
Philip is quoted on Roth IRA Re-characterization deadlines, maxing out on retirement plans, as well as the need to establish solo 401(k) plans by December 31, 2016. Here is the link https://www.thestreet.com/story/13839414/1/tax-tips-for-october-filers.html to the short article by TheStreet, Inc,. a leading digital financial media company reporting on the latest investing trends and analysis to investors around the world.
While everyone’s unemployment and financial situations are different, when one loses a job there are some helpful tips to consider in responding to the change: Tip 1 – Don’t panic---while losing your job is surely a major life event, the emotional and financial implications can usually be overcome. You may be emotionally hurt but you must react to the situation to minimize the long-term financial burden related to being unemployed. While you may want to...
College Transitions By Philip Lee, CFP® Last week Kristen and Julia, our rising high-school senior, visited McGill University in Montreal, Canada. By all accounts it was a hugely successful trip. Julia is thrilled at the prospect of furthering her education and expanding her horizons. She will be 18-years old soon and "on her own" as a freshman, hopefully, at a college of her choice. Students may be worried about making new friends, studying, and adjusting...
by Philip Lee, CFP® As the summer wind-down begins it is time to start thinking about upcoming financial planning deadlines: Sept. 15: Deadline for your Third quarterly estimated tax payment due Oct. 1: FAFSA Submission Time-window Begins If you (your child) plans to attend college from July 1, 2016 - June 2017 you can submit the Free Application for Federal Student Aid (FAFSA) form starting October 1st. This is a significant change from the past...
All too often people take their Social Security benefit as soon as they are eligible, which is typically age 62. While additional income is always appealing, the reality may be that waiting is in your best interest. The answer to, “When to take Social Security” can be complicated. Below are listed five key questions to guide you to the answer right for you. Social Security is no longer routinely sending “Earnings Benefits Statements”, but you...
Jeanne Gibson … |
Each season brings weather challenges depending on where you live. The threat of hail and tornados in the Spring, blizzards in the Winter, hurricanes in the Summer and Fall. The pictures below are of two recent incidents that happened to me – The Blizzard of 2013 - a huge pine tree falling in the back of our house and slighting impaling our porch (fortunately barely missing our family room which was filled with my son...
In each of the last few years, I have been asked to speak about basic financial planning issues to seniors of my alma mater, Mount Holyoke College. The most recent presentation was in March. In just 30 minutes, I tried to impart on the seniors some basic financial knowledge to prepare them for the decisions they will be presented when they enter the working world – how toselect a health insurance plan, do they need...