Recent Money Matters Blog Posts:
For Parents: Best Graduation Present EVER
Congratulations to the class of 2024! If you’re the parent of a graduating high school senior, congratulations to you, too! This spring will be a whirlwind of special assemblies, final concerts, awards ceremonies, prom—and presents! You may have bought that showy car for graduation—or a new computer for college.
You’re probably realizing that graduation also brings a role change for you. Your new graduate is legally an adult for many purposes. 18-year-olds can marry and vote, and (males only) must register for the draft at 18. They can purchase a gun (subject to individual state laws). If your graduate is college bound, you may have learned that colleges are required to meet privacy rules under the Family Educational Rights and Privacy Act (FERPA). That means that in any college or university that receives federal funding, access to the student’s records is tightly restricted.
Managing Paper Mail
Many people who grew up during the depression era learned that it was not good to put all their eggs in one basket. The risk of losing the basket along with all their eggs was too high.
This lesson applied to finances as well. Many individuals preferred to spread their money among a variety of different financial institutions because of their concern that a bank might fail and their funds would be lost.
Do You Have Too Many Accounts? Consolidate!
Many people who grew up during the depression era learned that it was not good to put all their eggs in one basket. The risk of losing the basket along with all their eggs was too high.
This lesson applied to finances as well. Many individuals preferred to spread their money among a variety of different financial institutions because of their concern that a bank might fail and their funds would be lost.
Financial Tip for January 2024
Federal Tax Changes 2023 And 2024: What You Should KnowAs we usher in the new year, it is time to review legislative changes that influence the documentation individuals must compile for their income tax returns. While no significant shifts in federal tax policy were...
Busy Professionals: Three Reasons a Daily Money Manager may be Right for You
Keeping track of your money can often feel like a separate career. It is easy to go from dedicating a few hours a month paying bills as you start your career to a much longer process as your assets and family grow. A Daily Money Manager (DMM) can help. DMMs are trusted professionals who pay bills, reconcile accounts, keep track of investments, organize tax documents, review and renew insurance coverage and other financial tasks – basically anything attached to a dollar sign. How do you know if you could benefit from a DMM? If any of these situations apply to you, it could be time to hire a DMM.
Enhancing Eldercare: Creating Elder-Centric Teams to Maximize Health & Financial Well-Being
Enhancing Eldercare: An Overview As our loved ones age, managing their finances and navigating the complexities of daily life can become increasingly challenging. With other life commitments or physical distance, families struggle to find the right combination of help...
Scammers and Identity Thieves
A Summer is often a time for vacations and relaxed schedules, longer days with family barbecues and carefree gatherings. It can also be a time when we let down our guard and are not as vigilant with overseeing our credit card statements or bank account balances. ...
Stop Singing the Tax Time Blues
We are coming to the end of that time of year when you have exhausted yourself preparing to send information to your tax preparer. Tax time doesn’t have to be a downer although can be a stressful and overwhelming period for many individuals. With numerous documents to...
How a Daily Money Manager Helps Your Investment Advisor or CFP® Professional
The benefits of building a personal financial team of two or more professionals: A recap of the monthly online video Lakeside Chat about how daily money managers can help older adults, high-net-worth families, and other professionals.
Why to Review Beneficiaries Annually to Secure Your Wishes
Reviewing your list of beneficiaries annually is wise. Relationships, circumstances, or benefits can change, and sometimes, so do your recipients. There are everyday life events such as births, deaths, or marriages. The most compelling reason for an annual beneficiary review is to ensure your accounts distribute as you wish.