Imagine a person who always, in every circumstance, makes rational decisions with his money. He saves when he ought to and spends exactly as he should spend, in order to maximize the “utility” of whatever wealth he happens to possess. He defers gratification with ease.
It’s tax time again, and as you look over your tax payments for calendar 2016, you’re undoubtedly wondering where those dollars are being spent.
Giving to a charity is easy, right? You write a check and send it off to your favorite 501(c)(3) organization, and get a full deduction for the amount on your tax return, up to 50% of your adjusted gross income.
The big question in Europe this year is how the British people will vote on June 23. Will they vote to leave the European Union (what’s being called the “Brexit”) or decide to continue to be part of the 28−nation economic alliance?
After the recent downturn in the U.S. and global stock markets, you can be pardoned if you wished that the markets were a bit tamer. Wouldn't it be nice to get, say, a steady 4% return every year rather than all these ups and downs?
June 6, 2015
The Fiscal Times – article by Kathryn Tuggle
If you’re going through a divorce, your future financial well-being may be the last thing on your mind. Unfortunately, when emotions get in the way, it’s easier to make mistakes that may cost you for years to come. Here’s a look at three of the worst financial mistakes you can make during a divorce.
1. You don’t know where the assets are or you lack an understanding of the household finances.
Dividing assets can be “simple math,” as alimony and child support are dictated in most states by a formula, says Michael Rosenberg, managing director of wealth management firm Diversified Investment Strategies. “By financial professionals, divorce is viewed purely as an economic divide,” he says. But when one spouse doesn’t have an understanding of the household or business assets, they often don’t know the basis for the concessions they might be called to make, says Derek Gabrielsen, a wealth advisor at financial management firm Strategic Wealth Partners.
December 27, 2013
By Beth Jones, RLP®, AIF®, CFT™
Life is full of changes
What do a lottery winner, lawsuit recipient and a widow have in common? Sudden money ― and sudden, similar emotions. While it may seem their experiences are polar opposites ― one is a “celebratory” experience and another involves deep grief ― both result in shared emotions. Shock, surprise, loss of identity and self-esteem, guilt, confusion, overwhelm, dramatically altered relations with friends and family. Other transitions which can elicit similar emotions are divorce, retirement, sale of a business, loss of money or a loved one. Life transitions are a time of change ― “what was” no longer exists and “what will be” has not yet taken shape. By definition, a transition is a temporary state. One of the keys to a successful transition is to take the time to re-examine your sense of purpose and consider your new choices in light of your highest life goals. Working with a financial planner trained by the Sudden Money® Institute in Financial Transition Planning can provide the needed guidance and structure to handle this time effectively.
September 21, 2013
By Beth Jones, RLP®, AIF®, CFT™
Many people fail to have proper and updated estate planning documents, so a serious illness or death of a family member can create major ramifications at a difficult time. Some think that only wealthy people need estate planning documents not true. Below is a summary of the documents that can help to ensure that your desires are clear and legal, hence minimizing conflicts and confusion.