If you’re going to get a refund, it’s possible you’re having too much deducted from your paycheck. You might want to consider going back and looking at those deductions and talking to your Human Resources department to see if you want to adjust that. But a lot of people like having that lump sum at the end of the year, because it’s like forced savings. If you like that, that’s fine. It is your money. It’s like surprise money, sort of like when I do the wash and find some quar
This week your tax forms should be showing up if you haven’t gotten them already. It’s income tax season, so we have to ask: What is income? There are two types of income. There’s earned income (that would be from your job). You’re going to get a W-2 on that. If you have a business, there may be a business tax return. If you’ve done any contract work for someone and you’ve made over $625, they are required to send you a 1099. If you’re taking withdrawals from a retirement acc
We don’t have full data on Christmas 2016 yet, because we have a bit of a hangover on our Christmas retail spending. It goes beyond Christmas. We’re all using our cash that we got at Christmas or our gift cards. As of November, we saw sales growth of 3.8% over the previous year. That’s not fabulous, but it’s good. We’re waiting to see what we end up with once everything is done. It was a good year, but it wasn’t for all retailers; it wasn’t even across the board. The reason w
"Have you started saving for your child's college experience?
Dr. Nancy Anderson stopped by with tips on why you should start saving NOW in our Midday Money segment." WLBT http://www.msnewsnow.com/clip/12702250/midday-money-time-for-school?autostart=true #savings #financialplan #financialadvisor #investmentadvisor #feeonlyfinancialadvisor
http://www.msnewsnow.com/clip/12292223/undefined Disability is something most people don’t think about. They think about: “What happens if I die? I need life insurance.” But more people, more often than not, are going to end up disabled. One in four will have a chance of becoming disabled, and the average duration of that disability is three years. That’s a lot of time to lose income. Here’s an interesting stat: About 40% of mortgage defaults are due to a disability. So, the
A lot of people who are retired are tempted by this. You need to stop and consider some things. The first is: Can you afford it? Some will say, I’m going to use some cash. Remember that if you give up that cash, especially if you’re retired, you’re giving up some protection for yourself. Other people wills say, I’m going to finance it. You need to consider the cost of all of that and taking on that debt. The other question is: Should you? Will you actually use it? A lot of pe
We now have $1.2 trillion in student loan debt out there. On average, our students are graduating with $35,000 of debt. That’s a lot for someone starting out in the workforce. 71% of our students graduate with some amount of debt—about three quarters of us. So, that begs the question: Is it worth it? We know that college grads have higher lifetime earnings, and we certainly saw lower unemployment, especially 2008 through 2010—much lower. But that’s on average. It really depen