What is the Medicare Open Enrollment Period? The Medicare Open Enrollment Period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open…
Last week, I enjoyed leading a class for the Neighborhood Economic Development Corporation (NEDCO) and their Financial Foundation course. For more than 35 years, NEDCO has been building opportunities in our community. By supporting financial stability and responsible homeownership, providing access to markets for local farmers and food producers, and creating unique programs for micro-businesses,…
As of today, fees previously associated with a credit freeze have disappeared. This has renewed the conversation around placing a credit freeze and identity protection. Last fall in the wake of the Equifax data breach, we shared strategies for adults to protect their credit. But, this leaves a vulnerable population prey to criminals: minor children. Should you…
On December 18, 2017, our office posted an article titled, “What to Make of the Rise in Bitcoin and Other Cryptocurrencies?” On the previous day, Bitcoin reached an all-time high of nearly $20,000 – a price it has not seen since. During this time, the discussion of Bitcoin grew to such a frenzy even my…
It’s no secret that a 529 plan offers tax advantaged growth for college expenses like tuition, books, supplies, etc. What isn’t as clear is who should own the account? The parent or the grandparent? As CERTIFIED FINANCIAL PLANNERS™, we get this question a lot, especially in the fall. It’s on the mind of many as…
As many of our client families approach age 70½, they begin to consider the impact their required minimum distribution will have on their income and tax liability. A common question that crosses their minds: Should I consider delaying my first required distribution? A required minimum distribution, often referred to as an RMD or minimum required distribution, is…
What is the current level of recession risk? It’s always prudent to ask these questions when conditions are benign, since that’s when the downside of the current good times is usually the most ignored. It seems everyone in the world is bullish (except those selling gold). There are a variety of signposts one could look…
You know how when you buy a new car, you suddenly see ‘your’ car everywhere, though you never really noticed it before? That’s what’s been happening with me and the Roth IRA lately. They’ve been around for over 20 years but lately, it seems they’re popping up in articles, client meetings and planning cases left and…
Dear Graduates, As you make your way into the workforce, you might feel eager to take on the first job offer that comes your way. But I encourage you to proceed with thought, caution and with the best interests of your future self (and maybe, family) at heart. In this third and final installment of…
Dear College Graduates, Most of you will walk away from your education with more than a diploma. Around 68% of you graduating with a bachelor’s degree are carrying $30,000 in student loan debt. For graduate students, that number is closer to $100,000. While it’s often tempting (and, an admirable financial planning goal) to focus on getting…