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Category: Financial Planning Strategy

Five Ways to Improve Your Financial Situation

If you are having trouble paying your debts, it is important to take action sooner rather than later. Doing nothing leads to much larger problems in the future, whether it’s a bad credit record or bankruptcy resulting in the loss of assets and even your home. If you’re in financial trouble, then here are some steps to take to avoid financial ruin in the future.   If you’ve accumulated a large amount of debt and […]

Social Security: Is Your Age a Retirement Numbers Game?

When preparing for your retirement, think about how much income you may need each year to fund the lifestyle you want. To help maintain your living standard, you may need to save enough money to supplement other sources of retirement income, such as a company pension and/or Social Security. It is also important to beware of how your age factors into your retirement decisions. Here are some important age milestones to consider: Age 55. If you take an early retirement, quit, or are otherwise […]

Charitable Giving Forecast to Grow in 2014

According to a report on charitable giving released in May 2014 by a leading forecast organization, Atlas of Giving, the U.S. is likely to see more than a 7% growth in charitable donations in 2014 compared to 2013. Atlas of Giving provides a monthly estimate of charitable giving by sector, source, and state. In 2013, Americans set a record. Fueled largely by significant gains in stock prices, charitable giving in the U.S. increased 13% in […]

Shielding Your Insurance from Estate Taxes

Life insurance, which can help to provide for your heirs in the event of your death, can be an important estate planning tool. It can provide funds to loved ones when they need it most and help meet your family’s financial obligations. One issue overlooked by many people, however, is that life insurance can add significant wealth to an overall estate, potentially causing assets to exceed the 2014 applicable exclusion amount of $5.34 million, the […]