2021 Tax Planning Opportunities
The end of the year provides a number of planning opportunities and issues. Year-end topics can include tax planning, investment and retirement accounts, charitable giving, cash flow and savings, insurance and estate planning. In this checklist, we cover a number of planning issues that you need to consider prior to year-end to ensure they stay […]
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Common Retirement Plans For Small Business Owners
As a business owner you have many options when establishing retirement plans. Several key factors, specific to each client’s unique situation, must be considered in order to select the appropriate plan or combination of plans. To help differentiate between the most commonly adopted retirement plans, we have created this chart. You can use this guide […]
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Three Important Criteria to Consider When Choosing a Financial Advisor.
Fee-Only: Compensated only by the client without earning commission of any kind for product sales or referrals. Fiduciary: Legally sworn and obligated to always place the interest of the client ahead of their own. Independent: Not affiliated with any brokerage firm, bank, or insurance company.
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Shore Financial Planning’s Investment Philosophy
The Solution to the Challenge of Investing The real key to successful investing involves disciplined application of three major themes found in modern prudent fiduciary investing: Broad diversification of risk Low costs Low taxes (for taxable investors). These factors allow investors the chance to reduce portfolio risk and enhance long term wealth effectively and efficiently. […]
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History of the Stock Market
In 1604, the Dutch East India Company held the world’s first initial public offering that allowed investors to buy shares in its ship’s voyages. Over the years that followed, in the wake of this first IPO, the world’s first stock exchange formed in Amsterdam out of a need to trade those shares among investors. Once […]
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Create a Free IRS Online Account as a Tax Preparation Tool
Shore Financial Planning prepares tax returns for individuals and small businesses. We recommend that our clients’ create an online account with the IRS in order to independently verify your tax records on an expedited basis to help assist with ongoing: Tax Preparation Tax Planning Identity Protection Assistance with tax issues The account creation process is: […]
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How the Economic Machine Works
How the Economic Machine Works by Ray Dalio. Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, “How does the economy really work?” Based on Dalio’s practical template for understanding the economy, which he developed over the course of his career, the video breaks […]
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Should I Contribute To My Roth 401(k)?
Roth 401(k)s have become an increasingly popular alternative to traditional 401(k)s, allowing participants to make after-tax salary deferrals to their employer plans. Many people may have the opportunity to contribute to a designated Roth account in their 401(k), but are uncertain about the best savings strategy for their personal circumstances. What is a Roth 401(k)? […]
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What Issues Should I Consider When Buying a Home?
Buying a home is one of the biggest financial moves that you will ever make. There are a number of issues that you should be aware of, including how the costs of purchasing and owning a home will impact your overall financial planning goals. In this checklist, we cover a number of financial issues that […]
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How Much Should I Be Saving for Retirement?
When it comes to saving for retirement, experts recommend saving 10% to 15% of your income every month, but you can calculate a more personalized goal by following four simple steps. As a rule of thumb, most experts recommend an annual retirement savings goal of 10% to 15% of your pretax income. High earners generally […]
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