Everyone knows someone in their family who has gotten divorced. The reason for divorce may be simple, but the process of getting divorced is usually complex, particularly if children are involved.
When people get married, they intertwine their lives emotionally and financially. The purchase of a home or vehicle, merger of bank accounts and purchase of insurance are just some of the ways a couple joins together financially. Besides a mortgage, couples may open credit cards together, which, if not properly managed, can result in things spiraling out of control very quickly. continue reading »
This is college commencement season, with thousands of new graduates starting their lives.
Many will be facing some significant challenges, such as trying to find a job in a very difficult market, renting an apartment or buying a home and maybe purchasing a new car. If there is a graduate in your life, you may want to pass along some of the following suggestions. continue reading »
2011 seemed to fly by and if you did not do any planning this year, it is not too late. Some of the opportunities are related to taxes, while others are more retirement estate planning oriented.
I usually counsel folks that if they are going to do anything, it is really important that they make their 401k and/or IRA contributions. For many, it may make sense to make Roth IRA contributions, as these contributions will grow tax free into the future – and any distributions will be completely tax free. The benefit of making these contributions will be significant over time and this money will be their primary means of support in retirement. continue reading »
The markets over the last few weeks have awakened the anxiety that we experienced back in 2008. While there are many companies reporting strong earnings, the overall growth of the US economy has slowed.
Unemployment and housing continue to be two of the biggest obstacles to our recovery. Housing prices have continued to fall in many markets and unemployment was 9.1 percent at the end of July. Many academics and politicians are debating the probability that we are headed for another recession. There are a number of measures (some tracked by the Fed and others by private investment companies) that point to continued slowing of the economy.
Given all the volatility, what are we supposed to do? There a number of things that you can do to help your financial health. continue reading »
In many families both parents work full-time jobs, but in the Northeast a lot of families are able to make ends meet with only one spouse working full-time (or the other spouse works a very limited part-time schedule).
Unfortunately, all the financial planning that is done is almost always from the perspective of the higher-earning spouse. Homemakers need to plan, as well. There are several areas of planning that homemakers need to keep in mind. continue reading »
We all know the government does a very poor job with planning – evidenced by the fact that we have no idea what our income or estate tax rates are going to be next year. There a number of things you can do before year-end to help ensure that you do not miss out on some favorable planning opportunities. continue reading »