How to get an estimate of your Social Security benefits

Knowing how much retirement income you might receive from Social Security may help you decide when to begin claiming benefits, and how Social Security might fit into your overall retirement income plan. Our clients enjoy retirement planning as part of their comprehensive financial plan, which considers all sources of retirement income, not just Social Security.…

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Congress considering 3 major changes to IRAs

Proposed legislation in Congress would make three significant changes to the way you can contribute to and withdraw from your IRAs. While Washington gridlock could of course sidetrack the Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act, the measure does enjoy broad bipartisan support. Here’s what it would mean, if…

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Maintaining your financial records: The importance of being organized

An important part of managing your personal finances is keeping your financial records organized. Whether it’s a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document – and you’ll need to locate it relatively…

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Tapping the equity in your home

Over time, the value of your home has grown and your mortgage balance has been reduced or even eliminated. The equity – the property’s value minus any liens against it – you now have in your home is a reservoir of funding potential. You may decide to tap into it for various purposes, such as…

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Why you need life insurance

We’ve all heard about the importance of having life insurance, but is it really necessary? Often, the answer is “yes,” but it depends on your specific situation. And it’s also important to determine how much coverage you need. Our comprehensive financial planning process allows us to get to know you well enough to Stand in…

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Understanding your credit report

Your credit report contains information about your past and present credit transactions. It’s used primarily by potential lenders to evaluate your creditworthiness. So if you’re about to apply for credit, especially for something significant like a mortgage, you’ll want to get and review a copy of your credit report. We provide our clients with complimentary…

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Organizing your finances after your spouse has died

Losing a spouse is a sorrowful and stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. That’s why we recommend Everplans, a secure digital archive and tool for estate planning and organization. To learn more about Everplans, and how you can get a complimentary subscription, click…

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Tax filing data shows need to review your withholding

The Internal Revenue Service continues to encourage taxpayers to review the amount of tax they have withheld from their paychecks in order to avoid a tax surprise when filing 2019 tax returns. Preliminary 2018 tax filing data seems to show the need for taxpayers to review their withholding in order to make sure the appropriate…

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Six tips for wealth and sanity

Investing can be stressful, but it doesn’t have to be. If you have a portfolio that was built for you and prepared by a financial advisor, you shouldn’t be too worried about volatility and financial news. If you don’t have a financial plan – or you prepared one yourself – contact one of our advisors…

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What are your old clothes worth?

When you give four bags of old clothes to a charity, you may receive a receipt. But the value of those old clothes as a charitable tax deduction is left up to you to determine. How much is too much? The Internal Revenue Service has tried to eliminate most of the guesswork by stating that…

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