The Social Security system can be complicated to navigate. Whether you’re in the early years of your career or nearing retirement, it’s important to understand how social security works and how to maximize your eventual benefit, especially if you are divorced or widowed.
Maximizing Your Charitable Giving
Giving back to your community feels great for several reasons and many of us living in the United States are fortunate to have the relative prosperity to do so. For some, it’s an inherent part of their value system or they’ve had a personal experience that connects them to a particular cause and for others, there are financial benefits driving their decision to give. Whatever the motivation, charitable giving can be an important part of your overall financial plan and it’s important to understand how the recent tax law changes affect the financial impact of donating cash and securities to your favorite causes.
The most significant change to the tax code for most taxpayers is the increase in the standard deduction. The amount nearly doubled to $12,000 for single filers and $24,000 for couples beginning in 2018. This means that unless your total itemized deductions are over these amounts, you will no longer be able to deduct the amount of your charitable donations. As with any tax law change, it’s best to consult your CPA to assess the impact to your personal situation but there are steps you can take on your own to get started.
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All About Financial Advisor Qualifications
Selecting a financial advisor can be both confusing and daunting – we get it.
What’s the difference between an advisor working at a firm like Morgan Stanley and an advisor working for a local, independent firm? There are actually many differences, but one place to start is understanding the various financial advisor qualifications associated with investment management and financial planning.
You’ve Graduated! Time to Start Investing.
Congratulations! You’re a college graduate and the world is your oyster. Transitioning to life as an independent adult means leaving the structure and preset expectations school provides, which can be both daunting and exciting at the same time. For years you had parents/teachers/professors/coaches telling you what you needed to do to reach the next step in life. Now, it’s up to you to decide what that next step looks like and how you’ll get there.
Understanding the Role of Life Insurance in Your Financial Plan
We’re just going to throw it out there: life insurance is not a fun or overly interesting topic of conversation. It is however, a very important one. Much of financial planning involves thinking through ‘what if’ situations and in the case of life insurance, you’re planning for what happens when you or a loved one passes away.
So let’s start with how it works.
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