5 Extremely Easy Ways to Save Money in 2021
Everyone wants to save money, but when it comes to actually saving money, few people do the things required to put themselves in a position for financial peace of mind. Here are five extremely easy ways to save money in 2021. 1. ASK FOR A DISCOUNT At some point, we’ve all heard our parents say […]
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Minimize Your Taxes: Harvesting Capital Gains or Roth Conversations
People often have outsized positions due to appreciation and large pre-tax retirement accounts. You may be looking to reduce portfolio risk and protect gains now, while also aiming to reduce their future income tax burden. Roth conversions and harvesting capital gains are two effective financial strategies that can achieve these goals; however, they accelerate income […]
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How Reliable is Social Security?
Americans love making light of the government. Whether that’s joking about the IRS or slow mail delivery from the Post Office. Social Security is also an easy punching bag, “No way I’m going to get my Social Security the way things are going!” is a common jab. But sitting behind joking statements like this lies […]
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How Will President Biden’s Tax Plan Effect Me?
The Biden administration plans to release a new round of tax law changes based on the agenda detailed during his campaign. While we are yet to fully understand the implications of this law change involving Biden’s tax plan, his control of Congress makes his plan ever more likely. This plan focuses on increasing credits for […]
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What Does Annuitization Mean and Should I do it?
Contrary to what many people think, annuities and annuitization are not the same, and confusing them can cause BIG problems for your retirement plan. WHAT IS AN ANNUITY? An annuity is a financial product. Technically, an annuity represents a contract made between the insurance company and the person who bought the annuity. When you purchase […]
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The Value of a Long Term Plan
I’m often asked, “Where should I invest my cash if I plan to make a large purchase in two years?” My answer is always, “ Make a long term plan to help avoid market crashes. Put it in your savings account so you know it will be there when you need it.” Sure, you could […]
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Escape the 9-5 Life with Financial Planning
Do you feel trapped by the 9-5 corporate structure? Are you considering becoming your own boss and taking control of your schedule? I have led numerous clients through financial planning exercises to help them create a vision of their ideal life, and one constant theme that every one of them has become apparent. The ability […]
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Are Interactions with a Certified Financial Planner™ – CFP® Confidential
We recently helped a client who was at an exciting, pivotal point in his life. After years of hard work, he was able to sell the company that he built and went from having a small amount of savings to having a life-changing amount of wealth. With the intention of investing this wealth in a […]
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How Shore Financial Planning Supports Local Businesses
Unfortunately, it’s tough for many small local businesses to keep their doors open during the pandemic. They face stiff competition from corporate chain stores and online retailers, which usually offer lower prices and a more extensive selection. If you want to see your town’s local businesses survive and prosper, you have to go the extra […]
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What is a Letter of Instruction?
By taking a few hours to write a letter of instruction, you can save your family a lot of headache in the event that something unexpected happens to you, or if they had to settle your estate. To improve your understanding of what a letter of instruction is, consider the following story: Mary is considered […]
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