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Should I contribute to a 401(k)?

Unless you absolutely cannot afford to set aside any dollars whatsoever, you should contribute to your employer’s 401(k) plan. A 401(k) plan is one of the most powerful tools you can use to save for your retirement. The first benefit is that your contributions to  …read more »

New Social Security Figures — Fall 2010

The Social Security Administration recently announced changes for 2011, including: Beneficiaries will not receive a cost-of-living adjustment (COLA) for 2011 because there was no increase in the Consumer Price Index (CPI-W) from the third quarter of 2008 to the third quarter of 2010. This is  …read more »

Common Misconceptions in regards to Financial Planning

The following are 6 common misconceptions in regards to financial planning. Confusing financial planning with investing. Think that financial planning is for the wealthy. Think that financial planning is for when they get older. Think that financial planning is the same as retirement planning. Wait  …read more »

Establishing a Budget: Part 1

Do you ever wonder where your money goes each month? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals. Step 1: Examine your financial goals Before you establish a budget, you  …read more »

Why Someone Would Need Life Insurance

Why someone would need life insurance: it is income replacement for someone who has financial responsibilities. What are financial responsibilities? They are debts and dependents. Debts include mortgages, credit cards, car payments; dependents are anyone who would need your income to pay bills and maintain  …read more »

Financial Planning – Seeing the Big Picture

Do you picture yourself owning a vacation home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where financial planning comes in. Financial planning is  …read more »

Changing Jobs and Your 401K

When you change jobs, you need to decide what to do with the money in your 401(k) plan. You have several options and the best option is unique to each individual based on age and needs. Option #1: You can withdraw the funds from your  …read more »

The Most Important Element in Investing

Asset allocation One of the most important decisions for your investment portfolio is your choice of asset allocation. Asset allocation simply means spreading investments over a variety of asset categories, such as equities, cash or cash alternative investments, bonds, real estate, foreign securities, and possibly  …read more »

Planning for Marriage

Planning for marriage encompasses more than just deciding whether to serve chicken at the reception and whether you should take a honeymoon cruise. If you are planning for marriage, you are faced with the enormous responsibility of combining your personal finances with your spouse’s, and  …read more »

Should You Pay off Your Mortgage or Invest?

Owning a home outright is a dream that many Americans share. At the same time having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. Deciding between prepaying your mortgage and investing your  …read more »