February 15, 2019

Financial planning is part art and part science. The science portion relates to the use of academic studies to construct portfolios with various levels of risk that can be used to provide retirees a certain level of income for their lifetime. The art element is equally important because we deal with individuals, and each individual has unique needs, disciplines, and tolerances.

February 15, 2019

By: John Zeltmann

While it might be logical to assume that most parents (and grandparents) would like to pay for their children’s (or grandchildren’s) college education by funding 529 plans, it’s probably even more likely that most haven’t calculated how much money they’ll need to save each year in order to do so. (The exercise is frightening, so avert your eyes if you’re an individual who scares easily.)

February 15, 2019

If you’re a senior on Medicare and you get sick while traveling abroad, let us try to help you calculate your out-of-pocket expenses should you get ill. The answer: Probably every dime you’re charged will come out of your pocket.

February 15, 2019

A client recently emailed to suggest that we remind all our clients of the importance of umbrella insurance. It was a good suggestion.

Regardless of your age, if you own any assets that you want to preserve, adding an umbrella policy helps to protect your assets. The more assets you have, the larger the umbrella policy you should obtain. (Umbrella policies often start at $1 million of coverage.)  Many experts suggest one should have enough insurance to at least cover your net worth.

Source: Direxion Funds

February 15, 2019

January 14, 2019

At year-end, mutual fund companies often distribute gains to shareholders in the form of capital gains distributions. Even if the fund is down for the year, shareholders may have a tax liability in their taxable accounts. These distributions are sent to investors via check, automatically deposited as cash to their brokerage account, or reinvested into the issuing mutual fund.  For those investors receiving the cash distributions, many see them as welcome arrivals - year-end bonuses, if you will.  It's not quite that simple.

December 31, 2018

Whether we’re driven by the season, the holidays, or a new year, this is often the time of year for reflection. As long-time readers of Stan’s World can attest, I’m a big fan of volunteerism. Numerous studies have validated the physical, spiritual, social and emotional benefits of volunteerism, and I’ve been a beneficiary.

December 31, 2018

While the last time there was a significant change to the rules when selling a home occurred in 1997, many people seem to mix the old and ‘new’ rules when trying to figure out whether the sale of their home is taxable or not. Here is a brief refresher, compliments of Tim Steffen writing in Investment News¹.

December 31, 2018

If your health insurance is through Medicare, you might be paying too much for prescription medications.

Consumer Reports¹ conducted a study in six cities that involved three Part D prescription drug plans. In each of the six cities, they “looked at two pharmacies and checked prices for generic versions of five common drugs.”  In Denver, “Someone filling prescriptions for the five drugs we looked at, plus paying a $16 monthly premium, could pay as little as $524 for a full year. But another person – at the same store with the same prescriptions but a different plan – would pay $1,686.”

Source: Direxion Funds

December 31, 2018