Uh-oh. You just got a letter from the IRS

By Bruce Willey
Posted on February 17, 2021

You’re flipping through your mail, and the return address on one letter makes your heart rate quicken — and not in a good way. It’s from the Internal Revenue Service, and they want to audit your return. Don’t think it can’t happen to you. The IRS seems to have gotten back to work after a lull, and I’ve recently gotten several frantic calls from clients who have received... READ MORE

Your quick guide to key dates this year

By Kiplinger Consumer News Service
Posted on February 04, 2021

Planning is everything. Financial strategies can take years to put in motion and even longer to bear fruit. The last thing you want is to sabotage yourself by missing an important financial deadline, like any one of these dates in 2021. Use this guide as a checklist and reminder of what you will need to do. January: A new year is your cue to take stock of your retirement savings.... READ MORE

Get the best healthcare at the right price

By Elliot Raphaelson
Posted on February 02, 2021

As we all know, the U.S. healthcare system is very complex. No matter what stage of life you are in, it is crucial to understand your options to obtain the best care in the most cost-effective way. Philip Moeller, author of the popular Get What’s Yours series, has a new book that will prove invaluable. Get What’s Yours for Health Care: How to Get the Best Care at the Right Price... READ MORE

Why would you donate points to charity?

By Erin Hurd
Posted on January 26, 2021

If you’re looking to give to charity this year but don’t want to dip into your bank account, donating unused credit card rewards, hotel points and airline miles can be a helpful alternative. In some cases, the charity can use the rewards for travel needs, and in other cases, the issuer can convert them to cash for the charity. And nonprofits’ needs are skyrocketing amid the... READ MORE

Fund your IRA by April to cut your taxes

By Sandra Block
Posted on January 14, 2021

Make sure you haven’t overlooked one of the best ways to cut your 2020 tax bill (even in the new year) and secure your future: funding a traditional IRA. (Note: There is no upfront tax break for funding a Roth IRA.) You can make an IRA contribution for the 2020 tax year up until the time you file your tax return, which is due April 15, 2021, and still be able to deduct your IRA... READ MORE

Ways to pay for long-term care if needed

By Elliot Raphaelson
Posted on January 05, 2021

Many retirees and prospective retirees don’t realize that Medicare does not cover expenses associated with long-term care, which is unfortunate because statistics show that approximately 70% of them will eventually need it in some form. Long-term care (LTC) is the care, both medical and non-medical, required by people for an extended period of time because of medical, physical and... READ MORE

When life blows up your well-laid plans

By Liz Weston
Posted on December 17, 2020

Job loss, business failure, involuntary retirement, divorce, disability or the death of a breadwinner — these are just some of the ways our finances can force us to come up with a Plan B. But the biggest task after financial loss may be dealing with your emotions after the future you had envisioned disappears. People who lose a loved one expect to grieve. People who lose their... READ MORE

Don’t bank on bonds being safe right now

By Randy Kurtz
Posted on December 15, 2020

Today’s market environment requires that we talk candidly about bonds. While investors over the years have turned to bonds for safety, unfortunately bonds have never been riskier than they are right now. Over long periods of time, bonds have generated lower returns and lower risk than equities. Bonds also have had low correlation with equities, which generates diversification... READ MORE

Which purchases are worth the splurge?

By Andrew Rosen
Posted on December 14, 2020

Boats, name-brand clothing, iPhones — the list of luxury products available to consumers is endless. But which ones are worth their salt? Defining “worth” is a deeply personal exercise. Some items deliver great performance and are unarguably worth their price tag. Others are more about feelings, connection and experience. While it’s not always necessary to splurge, there are... READ MORE

Watch out for scams via text 

By Kiplinger Consumer News Service
Posted on December 11, 2020

According to the IRS, there’s a new stimulus check scam that you need to know about. Thieves are sending text messages saying, “You have received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment into your account. Continue here to accept this payment.” The text then has a link to a fake website that looks like... READ MORE