Financial
by Robin S. Davis, CFP
Remember the song written and recorded in 1956 by Bo Diddley called "Who Do You Love"? I'm sure this is the number one thought on your mind when you are setting up your estate and deciding who will be on the receiving end of that estate when you pass away. Who will inherit your assets, what will they inherit, and when will they inherit it are important and sometimes irrevocable decisions that are often difficult to make and even more difficult to accomplish.
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by Jeffrey Gitterman
As a financial advisor, money is certainly a subject that's certainly close to my heart. When I give group seminars, I often like to begin by asking people to give me definitions of what money means to them. And I always get a similar range of replies: freedom … security … opportunity … power. I've asked this same question to hundreds of financial planners over the last several years, and I rarely ever hear the standard dictionary definition, which is simply that money is a means of exchange.
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by Robin S. Davis, CFP
The answer to this question is an absolute "maybe, maybe not". The size of your estate, type of assets it consists of, and the state you live in will determine whether or not your heirs will pay any taxes. The thing you have to remember is there is more than one kind of tax that comes into play when someone passes their estate to their beneficiaries upon their death. These taxes include federal estate taxes, state inheritance taxes, capital gains taxes and income taxes.
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by Alan Goldfarb, CFP®, AIF®, MBA
The topic of financial planning has been given a big boost recently, mostly due to a tough economy, a volatile stock market and headline-grabbing scandals, one of which resulted in the coining of an unfortunate new condition—“Madoffed.” As a result, investors have reacted in a variety of ways. Some simply ignore the whole situation, putting their financial planning on indefinite hold.
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by David N. Grenier
Investors who lost much of their savings during the current bear market ironically need the growth that stocks can provide more than ever. Depending on the size of their losses and how long they will have before they need access to their savings, many investors will either need to earn significant gains in coming years or scale back their financial goals.
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by George Wells
Here are my five “must eat” slices of any sound financial pie for any baby boomer that is still in the workforce, who is looking to effectively manage their finances and protect for the future. In today’s “new” economy, the key to success is planning ahead. Positioning your assets to obtain predictable results is more important today than ever. Each slice counts 20 percent towards complete financial success.
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by Jonathan Citrin
The phrase “we are only human” is a cliché that speaks volumes about the ability – or lack thereof – to overcome our inherent biological and psychological limitations and resist deeply ingrained social behaviors to make better, more informed decisions. There is nothing more intrinsically human than emotion – and yet, at the same time, there is nothing more counterproductive to successfully planning, establishing and maintaining a sound investment portfolio. Doing the smart thing can sometimes feel wrong, and making financial decisions based on anything other than unbiased critical thinking and careful analysis is a risky proposition.
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by Howard Hook
As we work our way through this current recession, it is clear that it has affected a broad section of investors. Stock investors and bond investors have seen declines in the value of their investments. Even cash investors have seen yields on their cash investments drop to practically zero and have had their implied guarantee of principal called into question.
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by Julie Murphy Casserly
Not long after I started my financial planning firm in 1995, I discovered something that was never taught to me in business school. It’s the notion that every person has their own unique and personal relationship with money. I consistently saw how my clients’ emotions were responsible for how they made money, how they kept it, or conversely, how they accumulated debt.
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by Roy P. Kozupsky & Douglas Freeman
How much of your wealth do you want your children to receive after you are gone? In reaching this conclusion, you may choose to leave everything to them. But, before deciding, ask yourself... How much will help them? At what point will any gift to them be excessive or counter-productive, i.e., undermine their own willingness or need to earn and become financially independent? Will the amount of wealth distract them from their chosen businesses or careers? Will it encourage them to retire on the date of your death? Remember, too much, too soon, can be very harmful.
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