Monthly Archives October 2016

4 Reasons to Consult a Financial Advisor

When your car breaks down, you probably take it to a mechanic. When your roof leaks, you hire a contractor. We generally recognize that tasks requiring expertise, particularly when they involve a lot of money, require the assistance of an expert. And yet, some people still take a do-it-yourself approach to finances. You might actually be making the biggest decisions of your life, without any expert counsel! Ward off potential problems. Sometimes people only seek financial advice after they have stumbled into a major problem. It’s good that they’ve realized they need help with a particular situation, but what if
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Get Ready, Get Set… Retire!

You might often hear retirement planning compared to a marathon, rather than a sprint. That’s because in an ideal scenario, you would establish a savings goal in the beginning of your career, make regular, steady progress toward that goal each year, and retire feeling satisfied with how well you “ran” the race. But in reality, we often don’t take retirement planning seriously when we’re young, and we have to make up for lost time later. If you’re feeling unprepared for retirement, at least you’re in good company: According to the Employee Benefit Research Institute, only 2 out of every 10
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5 Habits That Can Sink You Into Debt

Debt seems to be a way of life for many of us. American household debt currently totals 12.25 trillion dollars, with mortgages accounting for nearly 70 percent of that amount, and another 10 percent represented by student loans. Credit cards and non-mortgage loans account for the remaining two trillion dollars. It begs the question: Is all of this debt really necessary? Occasionally, emergencies do necessitate the use of a credit card. But it’s safe to say that a good portion of our collective debt originates from poor planning and spending habits. If you’re engaging in any of these practices, take
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Changes Coming to Social Security and Medicare

A few months ago, you might have read that a Social Security Cost of Living Adjustment (COLA) was not expected for 2017. With the COLA calculation tied to the Consumer Price Index, which reflected a flat inflation rate, experts predicted that benefits checks would remain the same in 2017. Now, it looks like we have a little bit of good news: Since the Consumer Price Index is reflecting a slight degree of inflation in the third quarter, it looks like Social Security beneficiaries will receive an adjustment on their checks after all. However, due to the very small amount of
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