Common Financial Sense https://www.commonfinancialsense.com/ Brining Common Sense to the Financial Landscape Fri, 23 Aug 2024 14:03:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.7 https://i0.wp.com/www.commonfinancialsense.com/wp-content/uploads/2016/12/cropped-favicon_blue.png?fit=32%2C32&ssl=1 Common Financial Sense https://www.commonfinancialsense.com/ 32 32 133796851 Beware of the Medicare Rules for HSA Accounts https://www.commonfinancialsense.com/beware-of-the-medicare-rules-for-hsa-accounts/ Fri, 23 Aug 2024 14:03:35 +0000 https://www.commonfinancialsense.com/?p=4324 A crucial decision arises for anyone who works past age 65 and wishes to continue contributing to an HSA. Congrats!  You are turning 65 and received a letter from Medicare WARNING you about lifetime penalties if you DON’T sign up for Medicare. However, since we are living longer, some are working past 65 because they […]

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]]> 4324 529 Rollover to Roth IRA https://www.commonfinancialsense.com/529-rollover-to-roth-ira/ Mon, 01 Apr 2024 12:26:51 +0000 https://www.commonfinancialsense.com/?p=4292 Can you move a 529 plan to Roth IRA? Yes, you can! Congress included a provision in SECURE 2.0 that allows for rollovers of unused 529 funds to Roth IRAs. Under the old tax rules, if funds in a section 529 plan are not used for education, the earnings are taxable and subject to a […]

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]]> 4292 4 Simple Strategies on How to Reduce Taxes and Maximize Retirement Income https://www.commonfinancialsense.com/4-simple-strategies-on-how-to-reduce-taxes-and-maximize-retirement-income/ Sat, 10 Feb 2024 17:26:42 +0000 https://www.commonfinancialsense.com/?p=4278 Tax-savvy withdrawals in retirement are often overlooked or ignored by investors.  That’s bad news when the Required Minimum Distribution (RMD) comes along and OUCH! As individuals approach retirement or if they’re already retired, one of the key concerns is ensuring a stable and tax-efficient income stream during their golden years. While saving diligently for retirement […]

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]]> 4278 6 Strategies to a Roth IRA for High Income Earners https://www.commonfinancialsense.com/6-strategies-to-a-roth-ira-for-high-income-earners/ Mon, 08 Jan 2024 14:12:32 +0000 https://www.commonfinancialsense.com/?p=4265 High income earners may face limitations when contributing to a Roth IRA due to income restrictions. However, there are several strategies they can employ to maximize the benefits of a Roth IRA or find alternative ways to achieve tax-efficient retirement savings. Keep in mind that tax laws may change, so it’s essential to consult with […]

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]]> 4265 Navigating the Financial Landscape: A Guide to 2023 Year-End Tax Planning https://www.commonfinancialsense.com/navigating-the-financial-landscape-a-guide-to-2023-year-end-tax-planning/ Thu, 07 Dec 2023 01:41:55 +0000 https://www.commonfinancialsense.com/?p=4248 As the year draws to a close, individuals and businesses alike are turning their attention to year-end tax planning. The landscape of tax laws and regulations is constantly evolving, and staying informed is crucial for optimizing financial strategies. In 2023, several key considerations and opportunities emerge for individuals and businesses to make informed decisions that […]

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]]> 4248 The #1 Concern for Retirement and How to Solve It https://www.commonfinancialsense.com/the-1-concern-for-retirement-and-how-to-solve-it/ Wed, 20 Sep 2023 21:05:32 +0000 https://www.commonfinancialsense.com/?p=4238 Traditionally, the main 2 concerns pre-retirees have are… Can I Retire? Will I Run Out of Money? However, according to a recent survey by HSBC, “Retirement Reinvented”, It’s Inflation. Yes, inflation tops retirement concerns here in the US. Planning for retirement has always been a crucial financial goal for individuals, and it remains important across […]

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]]> 4238 Tips for Reviewing Your Life Insurance Policy https://www.commonfinancialsense.com/tips-for-reviewing-your-life-insurance-policy-2/ Sat, 02 Sep 2023 17:03:13 +0000 https://www.commonfinancialsense.com/?p=4232 I’ve heard that investors would rather have a root canal with ZERO Novocain versus speaking to an advisor about Life Insurance. So, here is a great educational video on Tips for Reviewing Your Life Insurance Policy. Click on Image. If you need guidance about your own life insurance policies or want a second opinion please […]

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]]> 4232 What To Do With Your 401k Account? https://www.commonfinancialsense.com/what-to-do-with-your-401k-account/ Fri, 11 Aug 2023 21:01:51 +0000 https://www.commonfinancialsense.com/?p=4220 Do you have a 401k account from a former employer, kind of invested, you think, and still being charged FEES? Yes, your old 401k account is not free and you’re being charged fees.  So, the question is…. If you would like a no obligation, second opinion on your old 401k account, please email us at […]

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]]> 4220 What Women Say About Their Retirement Savings https://www.commonfinancialsense.com/what-women-say-about-their-retirement-savings/ Sun, 06 Aug 2023 17:46:57 +0000 https://www.commonfinancialsense.com/?p=4211 According to WISER, The Women’s Institute for a Secure Retirement, half of women over 25 say they have trouble saving for retirement. When planning for retirement, we don’t want to “fall short.” To make sure, we must account for a multitude of factors: 1. How much income do I need? 2. How long will I […]

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]]> 4211 What is a Trusted IRA? https://www.commonfinancialsense.com/what-is-a-trusted-ira/ Wed, 26 Jul 2023 18:23:01 +0000 https://www.commonfinancialsense.com/?p=4206 Account Preservation for the Next Generations A trusteed IRA combines the tax benefits of a traditional IRA with the control and preservation benefits of a trust. How Is a Trusteed IRA Different from a Typical Custodial IRA? While traditional custodial IRAs and trusteed IRAs are treated identically for tax purposes during your life, the trusteed […]

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]]> 4206 How to Use Life Insurance for Retirement Income https://www.commonfinancialsense.com/how-to-use-life-insurance-for-retirement-income/ Tue, 18 Jul 2023 00:43:58 +0000 https://www.commonfinancialsense.com/?p=4199 I know what you’re thinking.  Awesome!  A conversation about Life Insurance my favorite subject! Ok, maybe not that much enthusiasm, however, if that Cash Value Life Insurance could be used for…  Income-tax-free death benefit to protect heirs at death, replacing lost income Tax-deferred growth of policy cash values over lifetime Tax-free distributions from the policy […]

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]]> 4199 Having a Written Retirement Plan Gives You SWAN https://www.commonfinancialsense.com/having-a-written-retirement-plan-gives-you-swan/ Mon, 10 Apr 2023 23:20:32 +0000 https://www.commonfinancialsense.com/?p=4159 Research suggests written financial, income, and tax savings plans help you achieve your retirement goals. The concrete benefits for individuals of having a written retirement plan are clear, according to a Hearts & Wallets survey of 5,794 U.S. Households. The research shows that Americans who have a retirement plan enjoy increased savings, better asset allocation, […]

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]]> 4159 How to Recruit, Retain, Reward, and Retire Key Employees https://www.commonfinancialsense.com/how-to-recruit-retain-reward-and-retire-key-employees/ Mon, 13 Mar 2023 22:18:12 +0000 https://www.commonfinancialsense.com/?p=4144 An Executive Bonus Plan, Incentive Bonus Plan, or Nonqualified Deferred Compensation Plan can offer options and flexibility to drive success for many types of firms and employees. According to Principal, flexible options in Executive Bonus Plans allow companies to give back to their key employees, whose leadership and expertise are hard to match – and […]

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]]> 4144 Beware of the Sequence of Returns Risk https://www.commonfinancialsense.com/beware-of-the-sequence-of-returns-risk/ Sat, 28 Jan 2023 16:40:23 +0000 https://www.commonfinancialsense.com/?p=4129 There are many risks to be aware of, whether you’re approaching retirement or already retired. Stock market risk, bond market risk, interest rate risk, and the largest one is longevity risk.  Longevity risk is outliving your money.  With all of the advances in technology and healthcare we are living longer than ever before. In this […]

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]]> 4129 Milestones of SECURE Act 2.0 https://www.commonfinancialsense.com/milestones-of-secure-act-2-0/ Thu, 12 Jan 2023 13:17:10 +0000 https://www.commonfinancialsense.com/?p=4116 Retirement Changes and Challenges CONGRESS RECENTLY ENACTED LANDMARK RETIREMENT LEGISLATION KNOWN AS SECURE 2.0 THAT WILL INCENTIVIZE INDIVIDUALS TO SAVE FOR RETIREMENT, WHILE INCREASING ACCESS TO WORKPLACE PLANS. THE NEW LAW INCLUDES A NUMBER OF PROVISIONS INTENDED TO BENEFIT INDIVIDUALS AS WELL AS SMALL BUSINESS OWNERS. -ENHANCEMENT OF TAX CREDITS FOR SMALL BUSINESSES STARTING AND […]

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]]> 4116 The Top 12 Questions Business Owners Must Answer https://www.commonfinancialsense.com/the-top-12-questions-business-owners-must-answer/ Thu, 15 Dec 2022 20:46:13 +0000 https://www.commonfinancialsense.com/?p=4102 To say that the year of 2022 has been challenging is an understatement.  I don’t need to even want to list them at this point.  What we would like to focus in on are business owners. We meet with and speak to many owners and the one topic that never seems to have an answer […]

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]]> 4102 Inflation Alert! What You Need to Know https://www.commonfinancialsense.com/inflation-alert-what-you-need-to-know/ Wed, 09 Nov 2022 15:18:10 +0000 https://www.commonfinancialsense.com/?p=4076 Answers to Your Inflation Questions Been there, done that. Don’t want to do it again. That’s how many people who lived through the 1970s and 1980s feel about inflation. But today’s reality is that your money isn’t going as far as it once did, and you’re probably wondering if the situation will get worse. Since […]

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]]> 4076 How to UPGRADE Your Retirement Strategy https://www.commonfinancialsense.com/how-to-upgrade-your-retirement-strategy/ Sun, 02 Oct 2022 16:49:40 +0000 https://www.commonfinancialsense.com/?p=4065 Let’s face it, when it comes to retirement it’s all about generating income right? You’ve worked 40 years to build up and protect this nest egg and were always told NOT to use it until retirement.  So, you’ve done a great job following all of the rules like, ‘Don’t raid your retirement nest egg” or […]

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]]> 4065 How an Annuity is Equipped to Face a Bear Market https://www.commonfinancialsense.com/how-an-annuity-is-equipped-to-face-a-bear-market/ Fri, 12 Aug 2022 21:45:04 +0000 https://www.commonfinancialsense.com/?p=4053 When a bull charges, it thrusts its horns into the air. When a bear attacks, it swipes its paws downward. These animal actions are used to represent the way the market moves. A bear market occurs approximately every five years. The average decline is 39%, and the average duration is 18 months. When the market […]

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]]> 4053 Wealth Planning Strategies for Business Owners: Succession Planning https://www.commonfinancialsense.com/wealth-planning-strategies-for-business-owners-succession-planning/ Mon, 18 Jul 2022 06:00:35 +0000 https://www.commonfinancialsense.com/?p=4006 First, business succession is challenging. Most of those with no plan (78%) blamed their lack of planning at least partially on enjoying “managing their company too much to start thinking about a future transition,” while 42% said they were too busy to plan, and 44% felt that succession was “too far in the future” to […]

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]]> 4006 ALERT! Investors Are SHOCKED When Faced With the Price Tag of Retirement https://www.commonfinancialsense.com/alert-investors-are-shocked-when-faced-with-the-price-tag-of-retirement/ Fri, 08 Jul 2022 17:02:03 +0000 https://www.commonfinancialsense.com/?p=3962 Bottom Line: The amount of income you can generate now may not be enough to support a comfortable retirement. Even the most disciplined investors may be in for a shock when faced with the price tag of a comfortable retirement. That’s because the future will most likely be a more expensive place — and you […]

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]]> 3962 How to Make Decisions About Medicare Coverage https://www.commonfinancialsense.com/how-to-make-decisions-about-medicare-coverage/ Mon, 04 Jul 2022 18:30:03 +0000 https://www.commonfinancialsense.com/?p=3941 Medicare Resource Guide Questions to Consider When Making Medicare Coverage Decisions When you are choosing between Original Medicare and Medicare Advantage, or among Medicare Advantage Plans, here are some questions to keep in mind.   Providers, Hospitals, and Other Facilities • Will I be able to use my doctors? Are they in the plan’s network? […]

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]]> 3941 A Short History of S&P 500 Declines https://www.commonfinancialsense.com/a-short-history-of-sp-500-declines/ Mon, 30 May 2022 15:31:02 +0000 https://www.commonfinancialsense.com/?p=3932 In this investor blog we will discuss the Short History of S&P 500 Declines of 10% or More How Low Can The S&P Go? The S&P 500 has experienced 95 corrections of 10% or more since 1928. The average correction has declined -27% from peak to trough although the median correction amount is only -16.4% meaning […]

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]]> 3932 How To Prepare For The Retirement You Want https://www.commonfinancialsense.com/how-to-prepare-for-the-retirement-you-want/ Sat, 12 Feb 2022 19:51:20 +0000 https://www.commonfinancialsense.com/?p=3906 Let’s be honest, retirement planning can be complicated.  It’s important to ask the right questions so you can set yourself up for success. Unfortunately, too many investors procrastinate and say “I think I’m doing ok”.  The truth is there are real fears that investors face.  Here is an article on that subject Most Common Fears […]

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]]> 3906 5 Advantages to a Tax Diversification Strategy and Why It Matters https://www.commonfinancialsense.com/5-advantages-to-a-tax-diversification-strategy-and-why-it-matters/ Sun, 09 Jan 2022 16:09:31 +0000 https://www.commonfinancialsense.com/?p=3889 First off, what is Tax Diversification? Tax diversification is the practice of diversifying assets across different account types with varying tax characteristics. Since tax policies are always changing, tax diversification provides the flexibility to withdraw assets from optimal sources at preferred times to help preserve retirement assets. This strategy can help protect against higher tax rates […]

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]]> 3889 Your Wealth is About More Than Just Investing https://www.commonfinancialsense.com/your-wealth-is-about-more-than-just-investing/ Fri, 05 Nov 2021 16:11:36 +0000 https://www.commonfinancialsense.com/?p=3872 The bigger picture of your wealth is about what works best for you and your family.  Whether you’re approaching retirement, already retired, planning your legacy, or making an investment. With all that being said, having a retirement plan will help you on your financial journey. That starts with a conversation and a qualified financial advisor […]

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]]> 3872 Helping Large Companies Upgrade Their Retirement Savings Program Without Changing Providers https://www.commonfinancialsense.com/helping-large-companies-upgrade-their-retirement-savings-program-without-changing-providers/ Sun, 27 Jun 2021 17:01:52 +0000 https://www.commonfinancialsense.com/?p=3818 Many top executives, the leadership team, and important mid-career key employees worry that the current retirement plan program does NOT meet their retirement savings goals. There are 4 main problems with this scenario.   One, is that you can max out on a 401(k) plan even if you’re over 50 and have a profit-sharing plan in […]

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]]> 3818 Have You Calculated How Much Money You Need for Retirement? https://www.commonfinancialsense.com/have-you-calculated-how-much-money-you-need-for-retirement/ Mon, 07 Jun 2021 15:51:51 +0000 https://www.commonfinancialsense.com/?p=3748 Continually evaluating how much it will cost you to live comfortably in retirement can help to make sure you are saving enough over time.  Let’s face it, planning for retirement is a long process and over the years, your goals, dreams, family, and current situations can change (Like COVID-19) so don’t waste time, act now.  If your […]

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]]> 3748 Helping Attorneys Accelerate Retirement Savings and Reduce Their Tax Burden https://www.commonfinancialsense.com/helping-attorneys-accelerate-retirement-savings-and-reduce-their-tax-burden/ Sat, 05 Jun 2021 16:35:59 +0000 https://www.commonfinancialsense.com/?p=3736 Many lawyers worry that their current retirement plan does NOT meet their retirement savings goals. Attorneys, along with their partners, max out on their traditional 401(k) contribution.  Even with the 401(k) Profit Sharing contributions they can max out around $64,000 and may not be enough.  They want to have accelerated retirement savings, larger tax deductions and continue to offer excellent benefits for […]

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]]> 3736 How Large Medical Groups Can Drive Down Their Tax Liability And Enhance Their Retirement Savings https://www.commonfinancialsense.com/how-large-medical-groups-can-drive-down-their-tax-liability-and-enhance-their-retirement-savings/ Fri, 14 May 2021 15:31:52 +0000 https://www.commonfinancialsense.com/?p=3706 Many physicians worry that their current retirement plan does NOT meet their retirement savings goals. Physicians, along with the retirement committee members, want to have larger tax deductions and accelerated retirement savings. They are looking for a plan that’s more reliable, safe and has the potential to more than double their tax-deferred contribution amounts and […]

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]]> 3706 The Top 6 Financial Advisors in Chicago https://www.commonfinancialsense.com/the-top-6-financial-advisors-in-chicago/ Sat, 17 Apr 2021 15:25:05 +0000 https://www.commonfinancialsense.com/?p=3664 Major cities such as Chicago offer a high density of financial advisor options. Here are 6 independent firms that are among the best catering to clients in the Windy City.  For full disclosure, I did not put our firm CrossPoint Wealth on this list because we have higher minimums than these firms and are not based […]

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]]> 3664 What Dentists Need to Know to Achieve Larger Tax Deductions and Accelerated Retirement Savings https://www.commonfinancialsense.com/what-dentists-need-to-know-to-achieve-larger-tax-deductions-and-accelerated-retirement-savings/ Wed, 07 Apr 2021 17:29:20 +0000 https://www.commonfinancialsense.com/?p=3610 Why don’t more dentists set up plans or upgrade their current plan to take full advantage of larger tax deductions and accelerated retirement savings?  The answer is misconceptions that include: 1.  “Retirement plans are too expensive to set-up and administer.”  2.  “They’re too complicated.” 3.   “I have to make a contribution every year.” 4.  “I have to provide […]

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]]> 3610 A Plan For Tax Efficiency and Longevity Protection https://www.commonfinancialsense.com/a-plan-for-tax-efficiency-and-longevity-protection/ Thu, 25 Mar 2021 19:03:03 +0000 https://www.commonfinancialsense.com/?p=3575 How Permanent Life Insurance can act as a backstop for Retirement Needs Had a client who had saved money into a qualified plan for his retirement income needs. The client also had a need for more life insurance to give to his children additional financial protection. Ultimately a permanent life insurance policy was able to […]

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]]> 3575 HSAs Enjoy A Triple-Tax Advantage https://www.commonfinancialsense.com/hsas-enjoy-a-triple-tax-advantage/ Fri, 05 Mar 2021 16:09:16 +0000 https://www.commonfinancialsense.com/?p=3436 2021 HSA Contribution Limits The IRS just announced that health savings account (HSA) contribution limits will increase in 2020, giving you and your employees the chance to save more than ever. As a response to rising inflation, the contribution limits into savings vehicles like IRAs, 401(k)s, and HSAs can rise from year to year.  A […]

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]]> 3436 Most Common Fears Before and During Retirement https://www.commonfinancialsense.com/most-common-fears-before-and-during-retirement/ Mon, 01 Mar 2021 15:09:05 +0000 https://www.commonfinancialsense.com/?p=3420 It’s been my experience that when I first meet with people they tell me that they have major concerns about their money. They were concerned with losing money. Worried about running out of money in retirement. And of course there are many other concerns investors have. And some people are in denial and say “I […]

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]]> 3420 Retirement Transition Tax Planning https://www.commonfinancialsense.com/retirement-transition-tax-planning/ Fri, 26 Feb 2021 16:51:57 +0000 https://www.commonfinancialsense.com/?p=3408 Strategies for “Retirement Transition Tax Planning” so, you don’t end up stuck in a higher tax bracket & the “Tax-Free Investment” Most people believe that when they retire, they will be paying less taxes in retirement.  Without the proper planning ahead, you could potentially pay more than.  You don’t want that to happen, do you? Taxes in retirement […]

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]]> 3408 Bitcoin’s Recent Boom https://www.commonfinancialsense.com/bitcoins-recent-boom/ Wed, 17 Feb 2021 21:15:28 +0000 https://www.commonfinancialsense.com/?p=3391 Bitcoin Supply and Demand Trends The price of Bitcoin broke $50,000 yesterday, February 16th, 2021, for the first time in history. The cryptocurrency was up 5% for the day and more than 74% for the year. After these morning gains, Bitcoin prices receded somewhat.  New Bitcoins are created by powerful computers solving complex math puzzles […]

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]]> 3391 2.5 Realities That Equity Investors Must Accept https://www.commonfinancialsense.com/2-5-realities-that-equity-investors-must-accept/ Mon, 15 Feb 2021 19:14:11 +0000 https://www.commonfinancialsense.com/?p=3362 Peter Lynch, one of the most successful investors of all me, said it best: “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” 1. Corrections Happen A “correction” is defined as a drop of 10% or more inthe value of an […]

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]]> 3362 When is the Next Market Downturn and Are Your Retirement Assets Protected? https://www.commonfinancialsense.com/when-is-the-next-market-downturn-and-are-your-retirement-assets-protected/ Tue, 09 Feb 2021 18:33:27 +0000 https://www.commonfinancialsense.com/?p=3333 Corrections are normal, but FEAR usually takes over when the major averages, along with your portfolio, start to drop. If you’re approaching retirement or already retired there’s a lot more to be concerned about so avoiding major market downturns is more important than achieving gains. Please review the chart below as an important reminder how […]

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]]> 3333 How to Understand Cash Balance Plans Without Being an Expert https://www.commonfinancialsense.com/how-to-understand-cash-balance-plans-without-being-an-expert/ Fri, 11 Dec 2020 16:40:42 +0000 https://www.commonfinancialsense.com/?p=3293 Larger Tax Deductions and Accelerated Retirement Savings A Primer on Profit-Sharing and Cash Balance Plans Many business owners and partners of firms are looking for larger tax deductions and accelerated retirement savings. Profit-Sharing and/or Cash Balance plans may be the perfect solution for them. What is a Cash Balance plan? A Cash Balance plan is […]

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]]> 3293 HSAs can be a prescription for lower medical expenses https://www.commonfinancialsense.com/hsas-can-be-a-prescription-for-lower-medical-expenses/ Sun, 01 Nov 2020 16:48:35 +0000 https://www.commonfinancialsense.com/?p=3244 The cost of health care can pose a significant expense—and a big concern—for most investors. Whether your covered by a workplace health insurance plan or a public program such as Medicare or options under the Affordable Care Act (ACA), there’s a good chance that health care costs are top of mind for a lot of […]

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]]> 3244 International Keynote Speaker https://www.commonfinancialsense.com/international-keynote-speaker/ Wed, 21 Oct 2020 13:15:16 +0000 https://www.commonfinancialsense.com/?p=3202 Thrilled to be the International Keynote Speaker at this year’s RF Pensions Seminar. The theme is “Flexible Solutions for Uncertainty in Retirement.” 

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]]> 3202 Active Digital Diversification https://www.commonfinancialsense.com/active-digital-diversification/ Tue, 29 Sep 2020 21:51:40 +0000 https://www.commonfinancialsense.com/?p=3168 Cryptocurrencies: Growth of a New Asset Class  Summary: -Despite Being Met with Warranted Skepticism, Cryptocurrencies or Digital Assets are Here to Stay.  -A Growth Asset and Macro Hedge -Bitcoin in a Modern Portfolio This has been an unprecedented year for markets, with no asset class exempt from economic disruption and market volatility. While the overall […]

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]]> 3168 The Power of Positive Thinking https://www.commonfinancialsense.com/the-power-of-positive-thinking/ Sun, 20 Sep 2020 15:56:13 +0000 https://www.commonfinancialsense.com/?p=3153 Over the course of my life there have been moments when I went through hard times. What I can say that has given my power to think, believe and act on a higher level is with positive affirmations. To change my mood, to elevate my thinking, to be happier in the moment is with words. […]

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]]> 3153 How to Quickly and Easily Understand Alternative Investments Without Being an Expert https://www.commonfinancialsense.com/how-to-quickly-and-easily-understand-alternative-investments-without-being-an-expert/ Sat, 19 Sep 2020 14:45:42 +0000 https://www.commonfinancialsense.com/?p=3145 Alternative investments have long been associated with more exotic forms of investments. Perhaps this was because, as a broad asset class, they were typically available only to institutional investors or the very wealthy – often restricted to such investors by law (as hedge funds still are). Average individual investors rarely had access to them. That […]

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]]> 3145 Internet and E-commerce through Emerging Markets https://www.commonfinancialsense.com/internet-and-e-commerce-through-emerging-markets/ Fri, 18 Sep 2020 20:30:47 +0000 https://www.commonfinancialsense.com/?p=3141 The companies winning the global E-commerce boom. If you could go back in time and invest in Apple, Google, Netflix when they first became a publicly trading company wouldn’t you? In my opinion, it’s an amazing time to watch how Internet and E-Commerce companies have begun developing and within Emerging Market economies.  With 6 billion shoppers, […]

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]]> 3141 Elections matter, but not so much to your investments https://www.commonfinancialsense.com/elections-matter/ Thu, 17 Sep 2020 18:41:13 +0000 https://www.commonfinancialsense.com/?p=3131 Election years can be fraught with uncertainty as developments surrounding the candidates, their platforms, and their predicted effects on the economy and markets dominate the news. But should you let this stream of political information influence how you and I manage your investment portfolio? A lengthy history of empirical research suggests not. Elections matter, just […]

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]]> 3131 7 Challenges Women Face in Retirement https://www.commonfinancialsense.com/7-challenges-women-face-in-retirement/ Tue, 01 Sep 2020 16:20:39 +0000 https://www.commonfinancialsense.com/?p=3091 Now, more than ever, women are taking ownership of their finances, asking tough questions, and making the choices that are best for their situations. However, a large percentage of women also don’t feel confident about their retirement planning, according to the Midland National white paper, Empowered. If you’re a woman, this lack of confidence, along with […]

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]]> 3091 8 Charitable Strategies Using the CARES Act https://www.commonfinancialsense.com/8-charitable-strategies-using-the-cares-act/ Sat, 29 Aug 2020 16:16:48 +0000 https://www.commonfinancialsense.com/?p=3078 The CARES Act was signed into law on March 27, 2020 and includes a wide range of provisions to assist those affected by the COVID-19 pandemic.  Recognizing the heightened importance of charitable giving and the need to maximize support of nonprofts providing critical relief and response services, the CARES Act includes key provisions designed to […]

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]]> 3078 Trendy Investments Are Long-Term Losers https://www.commonfinancialsense.com/trendy-investments-are-long-term-losers/ Sat, 22 Aug 2020 14:46:29 +0000 https://www.commonfinancialsense.com/?p=3072 Quick Market Thought: Just because the market had recouped its losses from earlier this year doesn’t mean we predict smooth sailing ahead. With less than 80 days until the November elections, the political mudslinging is ramping up. As investment strategists, we think it’s policy, not politics, that matters. To that end, we believe that putting […]

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]]> 3072 CARES Act and CRDs https://www.commonfinancialsense.com/cares-act-and-crds/ Mon, 17 Aug 2020 15:10:37 +0000 https://www.commonfinancialsense.com/?p=3060 We have been getting a lot of questions surrounding the rules for the CARES Act, tax benefits, who qualifies and who does not. So we created this quick article to help. Coronavirus-related distributions  What are the tax benefits for CRDs (coronavirus-related distributions)? Who qualifies and who does not? CRDs  Available for 2020 Only  $100,000 Overall […]

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]]> 3060 Compliance Alert! https://www.commonfinancialsense.com/compliance-alert/ Thu, 13 Aug 2020 20:10:41 +0000 https://www.commonfinancialsense.com/?p=3056 Executive Orders to Suspend Payroll Taxes, Expand Unemployment Benefits, and more Here’s how the executive orders issued by President Trump that provide additional relief to workers during the COVID pandemic. At A Glance In order to provide additional relief to workers during the COVID pandemic, President Trump has issued executive orders to: -Suspend Social Security […]

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]]> 3056 When to Take Social Security? https://www.commonfinancialsense.com/when-to-take-social-security/ Sat, 01 Aug 2020 15:59:34 +0000 https://www.commonfinancialsense.com/?p=3040 Deciding when to take your Social Security retirement benefits is a crucial decision no matter when you make it. If you’re age 62 or over, claiming Social Security benefits in an uncertain job market might seem like a great idea. But you may want to press pause before you make one of the biggest decisions […]

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]]> 3040 In the Middle of Every Difficulty Lies Opportunity https://www.commonfinancialsense.com/in-the-middle-of-every-difficulty-lies-opportunity/ Sat, 25 Jul 2020 19:57:50 +0000 https://www.commonfinancialsense.com/?p=2994 -Albert Einstein It doesn’t really matter how we got here at this point, but we all know that every business, individual and country has had to make major changes in order to survive.  I really mean that point, in order to survive as a species. As a global civilization we have not faced a global invisible war, […]

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]]> 2994 What Keeps You Up At Night? https://www.commonfinancialsense.com/what-keeps-you-up-at-night/ Sun, 19 Jul 2020 18:55:43 +0000 https://www.commonfinancialsense.com/?p=2978 Planning for retirement is often talked about, but making sound financial decisions to move forward can be stressful for some.  Your wealth is about more than just investing. In this article we wanted to ask you a lot of questions on many areas of financial and retirement planning. Take a minute to review the topics […]

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]]> 2978 How to Understand Why Active Investing Matters https://www.commonfinancialsense.com/how-to-understand-why-active-investing-matters/ Thu, 16 Jul 2020 18:12:42 +0000 https://www.commonfinancialsense.com/?p=2972 Most investors can’t afford a major portfolio loss.  Active management can provide protection in volatile markets. Regular buy & hold strategies are often highly correlated with the market and with each other. Alternatively, active strategies can provide extra downside protection and useful diversification.  Consider this:  -In 2008, the S&P 500 was down 37%, whereas certain […]

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]]> 2972 7 Key Roth Conversion Considerations https://www.commonfinancialsense.com/7-key-roth-conversion-considerations/ Tue, 14 Jul 2020 19:03:47 +0000 https://www.commonfinancialsense.com/?p=2960 Roth IRAs are a powerful retirement savings vehicle—but should you trade in your traditional IRA for one? The answer comes down to TAXES. What makes them so popular is that money placed in a Roth IRA can grow tax-free and be withdrawn tax-free in retirement. Money you contribute to a traditional IRA also grows tax-free, […]

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]]> 2960 IRS Extends 2020 RMD Relief Waivers https://www.commonfinancialsense.com/irs-extends-2020-rmd-relief-waivers/ Sat, 11 Jul 2020 19:27:19 +0000 https://www.commonfinancialsense.com/?p=2954 Here’s a little more detail on the key provisions and some financial planning moves to consider: 1. 2020 RMDs Deadline Extended to August 31. The CARES Act waived RMDs from qualified accounts for 2020. If you took all or a portion of your RMD early, however, you were bound by the 60-day rollover rule, which […]

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]]> 2954 How to Protect Your 401(k) and Investments from Market Volatility https://www.commonfinancialsense.com/how-to-protect-your-401k-and-investments-from-market-volatility/ Sun, 21 Jun 2020 15:52:42 +0000 https://www.commonfinancialsense.com/?p=2882 In order to get an answer to our question we need to understand Risk and Return.   Greater Risk, Greater Return  Every investment carries risk. In general, the greater the level of risk you’re willing to take, the greater the potential return. Listed below are some simple tools that can help you manage market volatility for […]

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]]> 2882 We’ll Get There When We Get There! https://www.commonfinancialsense.com/well-get-there-when-we-get-there/ Sat, 13 Jun 2020 18:17:22 +0000 https://www.commonfinancialsense.com/?p=2832 Are we there yet? Are we there yet? I’m sure when I was young, I asked this slightly annoying question whenever we went on a road trip, vacation or even just to the store.   As a child we want immediate gratification, ok even as adults we can lose our patience, but we as adults we […]

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]]> 2832 How to Save for College Without Sacrificing Your Own Retirement https://www.commonfinancialsense.com/how-to-save-for-college-without-sacrificing-your-own-retirement/ Mon, 08 Jun 2020 16:25:25 +0000 https://www.commonfinancialsense.com/?p=2807 A College Savings Solution: Say Hello to a 529 Plan A 529 college savings plan is a simple way to save for your child’s education. We speak to a lot of investors and couples about saving for their child’s education. What we try to help out with is simple steps to save for college without […]

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]]> 2807 How to Quickly and Easily Understand Your Employee Stock Option Plan Without Being an Expert https://www.commonfinancialsense.com/how-to-quickly-and-easily-understand-your-employee-stock-option-plan-without-being-an-expert/ Fri, 05 Jun 2020 19:19:50 +0000 https://www.commonfinancialsense.com/?p=2787 As a way to compensate, retain and attract employees, many companies issue stock options. With an employee stock option plan, you are offered the right to buy a specific number of shares of company stock, at a specified price called the grant price, also known as the strike or exercise price, within a specified number […]

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]]> 2787 9 Ways to De-Stress During the Coronavirus Crisis https://www.commonfinancialsense.com/9-ways-to-de-stress-during-the-coronavirus-crisis/ Fri, 29 May 2020 15:50:18 +0000 https://www.commonfinancialsense.com/?p=2775 The current coronavirus disease (COVID-19) crisis is causing a lot of fear and anxiety for people in the world. According to the CDC, the stress of the outbreak can lead to irritability, anger, or frustration, and even physical problems like stomach pain, nausea, and headaches. To cope with the crisis and ensure your well-being, here […]

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]]> 2775 Catch People Doing Things Right https://www.commonfinancialsense.com/catch-people-doing-things-right/ Wed, 20 May 2020 20:45:16 +0000 https://www.commonfinancialsense.com/?p=2765 Typically, in sports it used to be everyone waited until the big milestone was reached. When asked, “Now that you’ve won [Mr or Miss Champion], what are you going to do?” the answer was, “We’re going to Disneyland!” Times have changed, in so many ways. The journey we’re on today has no parallel—we’re really headed […]

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]]> 2765 CARES Act Relief https://www.commonfinancialsense.com/cares-act-relief/ Wed, 06 May 2020 15:09:36 +0000 https://www.commonfinancialsense.com/?p=2734 RMDs Waived for 2020 -2019 RMDs due by April 1st, 2020 (If delayed to January 1, 2020 or later) -2020 RMDs from company plans and IRAs -2020 RMDs for plan, IRA and Roth IRA Beneficiaries -RMDs taken this year can be undone if they are eligible to be rolled over. To be eligible: -Must be […]

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]]> 2734 The CARES Act and Retirement Plans https://www.commonfinancialsense.com/the-cares-act-and-retirement-plans/ Mon, 20 Apr 2020 13:22:33 +0000 https://www.commonfinancialsense.com/?p=2708 What You Need to Know. Among many other provisions, the CARES Act allows participants affected by the 2020 coronavirus pandemic to have greater access to retirement funds. The new law loosens the in-service distribution restrictions that apply to many retirement plans and significantly eases the tax burden on qualified individuals who take distributions from qualified […]

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]]> 2708 How is a Mutual Fund Taxed? https://www.commonfinancialsense.com/how-is-a-mutual-fund-taxed/ Fri, 10 Apr 2020 15:05:28 +0000 https://www.commonfinancialsense.com/?p=2697 Attention Taxable Accounts! Despite Losses, You May Incur Sizable Capital Gains Tax Let’s get right to the point, like any investment, if you buy a mutual fund, own it for more than one year, and sell it at a profit, you must pay federal (and for most states) capital gains tax on your gain. Yet many […]

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]]> 2697 SBA Disaster Relief Funding https://www.commonfinancialsense.com/sba-disaster-relief-funding/ Thu, 02 Apr 2020 15:36:25 +0000 https://www.commonfinancialsense.com/?p=2681 Special Edition on COVID-19 and Important Updates for Employers Congress passed the CARES Act to provide emergency assistance and health response for individuals, families and businesses. The CARES Act is providing 2 Trillion dollars in assistance. I am going to cover two ways you can get money for your business as fast as possible through […]

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]]> 2681 How to Understand ESG Without Being an Expert https://www.commonfinancialsense.com/how-to-understand-esg-without-being-an-expert/ Mon, 17 Feb 2020 23:07:54 +0000 https://www.commonfinancialsense.com/?p=2602 First of all, what does ESG stand for? ESG stands for Environmental, Social, and Governance or (ESG). Please explain? ESG are three central factors in measuring the sustainability and ethical impact of a company. ESG factors, though non-financial, have a material impact on the long-term risk and return of investments. ESG is incorporated into risk mitigation, compliance […]

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]]> 2602 529 Plan Benefits https://www.commonfinancialsense.com/529-plan-benefits/ Fri, 14 Feb 2020 22:49:40 +0000 https://www.commonfinancialsense.com/?p=2545 What is a 529 Plan? A 529 plan is a tax-advantaged investment vehicle in the U.S. designed to encourage saving for the future higher education expenses of a designated beneficiary. The name “529” comes from Section 529 of the IRS tax code, which gives these plans special tax breaks to encourage saving for education.  Sponsors include states, […]

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]]> 2545 How to Understand the 3 Biggest Risks to Retirement https://www.commonfinancialsense.com/how-to-understand-the-3-biggest-risks-to-retirement/ Mon, 10 Feb 2020 19:53:35 +0000 https://www.commonfinancialsense.com/?p=2470 Taxes, Stock Market Risk and Longevity Risk. A generation ago your parents had pensions, but that’s changed. Over the past 35 years that has changed and we have moved to 401k’s. You need to create your own pension. Losing money in the market is inevitable it’s only a matter of time. If the market tanks […]

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]]> 2470 The Truth About Crypto Assets! https://www.commonfinancialsense.com/the-truth-about-crypto-assets/ Fri, 07 Feb 2020 20:10:28 +0000 https://www.commonfinancialsense.com/?p=2329 What Are Crypto Assets? The easiest way to answer the question of what cryptoassets are and why they are important is to think about a simple transaction, like giving someone $1 million. In a world where we all carried cash, this was simple. If I want to give you $1 million, I simply give you […]

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]]> 2329 How To Understand The Benefits of SEP and SIMPLE IRAs https://www.commonfinancialsense.com/how-to-understand-the-benefits-of-sep-and-simple-iras/ Sun, 02 Feb 2020 18:07:49 +0000 https://www.commonfinancialsense.com/?p=2181 Offering an employer-sponsored retirement plan can be beneficial, but it may require an administrative and financial commitment. A SEP IRA or SIMPLE IRA may be easier, lower-cost alternative to operating other types of retirement plans. Advantages of offering a SEP or SIMPLE IRA include: Employers can help employees set up their IRAs The plans are […]

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]]> 2181 Roth Conversions https://www.commonfinancialsense.com/roth-conversions/ Wed, 29 Jan 2020 19:53:12 +0000 https://www.commonfinancialsense.com/?p=2003 The Benefits and Side Effects Benefits of Roth Conversions If future tax rates increase, tax-free Roth IRA income will be more valuable. Roth IRAs remove the uncertainty of what your future tax rates might be. RMD Benefit – Roth IRAs have NO RMDs during lifetime……. Also, there are no RMDs for a spouse who moves inherited […]

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]]> 2003 So Much News to Share https://www.commonfinancialsense.com/so-much-news-to-share/ Sun, 19 Jan 2020 18:00:33 +0000 https://www.commonfinancialsense.com/?p=1993 Trade War Truce Dow 30000 May Not Mean Much…  …But Small Numbers Can Mean a Lot  FSA Spending Deadlines Approaching After more than a year’s worth of trade-war lunges, parries and ripostes, “phase one” of the U.S.-China trade agreement was signed this week. While it was overshadowed in the headlines by the House sending the […]

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]]> 1993 The Top 8 Things You Need to Know About the SECURE Act https://www.commonfinancialsense.com/the-secure-act/ Thu, 26 Dec 2019 18:51:22 +0000 https://www.commonfinancialsense.com/?p=1976 The Secure Act, which stands for the Setting Every Community Up for Retirement Enhancement (Security) Act, is seen as the most sweeping retirement legislation for more than a decade and effects retirees, employees and employers.   The SECURE Act is set to become effective January 1, 2020. 1.Required Minimum Distributions (RMDs) Will Start at Age 72, […]

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]]> 1976 6 Tax Strategies for Charitable Planning https://www.commonfinancialsense.com/6-tax-strategies-for-charitable-planning/ Mon, 16 Dec 2019 15:37:22 +0000 https://www.commonfinancialsense.com/?p=1970 According to the report Giving USA, U.S. families and individuals give an average of more than $1 billion to charity every day—a major force for addressing important needs in our communities. The value of giving is also recognized by the U.S. tax code, which provides a variety of tax incentives to support those who wish […]

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]]> 1970 SEC Issues RISK ALERT on Target-Date Funds https://www.commonfinancialsense.com/sec-issues-risk-alert-on-target-date-funds/ Mon, 11 Nov 2019 14:45:55 +0000 https://www.commonfinancialsense.com/?p=1958 Procedures for Monitoring Were Absent! Sponsors of the 401(k) funds don’t disclose their use of underlying in-house investments. The Securities and Exchange Commission, the agency’s Office of Compliance Inspections and Examinations risk alert said some TDFs provided “incomplete and potentially misleading disclosures” around conflicts of interest, such as those that could arise from “the use of affiliated […]

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]]> 1958 How to Increase Your Retirement Savings and Decrease Your Taxes with HSA’s (Health Savings Accounts) https://www.commonfinancialsense.com/how-to-increase-your-retirement-savings-and-decrease-your-taxes-with-hsas-health-savings-accounts/ Tue, 29 Oct 2019 14:40:54 +0000 https://www.commonfinancialsense.com/?p=1943 Health savings accounts offer another way to help investors save for retirement. An HSA is a tax-favored account that works with an HSA-qualified high-deductible health insurance plan. HSAs can be a powerful health care planning tool, but they’re frequently overlooked as an effective way to help save for retirement. How HSAs Function Despite being available […]

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]]> 1943 How to Protect Your Family’s Future by Asking 2 Important Questions https://www.commonfinancialsense.com/how-to-protect-your-familys-future-by-asking-2-important-questions/ Sat, 12 Oct 2019 15:18:27 +0000 https://www.commonfinancialsense.com/?p=1932 For most people, deciding on the life insurance they need for themselves and loved ones is like getting a tooth pooled without any anesthetic.  This educational article was created so you can Make Life Insurance Simple. It comes down to knowing how to anticipate and manage risk.   It’s a skill that’s even more important when it comes […]

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]]> 1932 The Top 6 Things You and Your Family Need to Know About Elder Law https://www.commonfinancialsense.com/the-top-6-things-you-and-your-family-need-to-know-about-elder-law/ Wed, 25 Sep 2019 17:32:49 +0000 https://www.commonfinancialsense.com/?p=1920 There are now more than 40 million Americans over the age of 65, and that number is increasing at a steady pace. With greater longevity, the availability — and complexity — of federal programs created to assist the aging population is also growing. That’s where an elder law attorney can help. An elder law attorney, sometimes […]

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]]> 1920 The #1 401(k) Problem for Small Business Owners https://www.commonfinancialsense.com/the-1-401k-problem-for-small-business-owners/ Tue, 10 Sep 2019 19:01:02 +0000 https://www.commonfinancialsense.com/?p=1908 The business and economic cycles have a major impact on how you make decisions.  So knowing that the yield curve inverted, what the stock market is doing and the what the 3-month average for the non-farm payrolls says is very important. However, generating profits is the main goal and that takes up probably 90% of […]

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]]> 1908 Retirement and Protection https://www.commonfinancialsense.com/retirement-and-protection/ Tue, 03 Sep 2019 21:51:44 +0000 https://www.commonfinancialsense.com/?p=1890 Will Your Gains Be Overwhelmed by Inflation and Taxes? In an uncertain economic environment, many consumers are seeking fixed rate products like certificates of deposit (CDs) for security. While benefits such as short-term durations and a guaranteed interest rate can be appealing, two factors are often overlooked that can negatively impact a conservative fixed rate: […]

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]]> 1890 11 Money Habits to Follow for Millennials and Gen X, Y, Z’s https://www.commonfinancialsense.com/11-money-habits-to-follow-for-millennials/ Sat, 10 Aug 2019 15:38:36 +0000 https://www.commonfinancialsense.com/?p=1873 A person in their 20’s is a time of great opportunity—starting a career, advancing your education, living in a place of your own, perhaps meeting a life partner. This is a critical time for a young person to create good financial and investment habits upon which to build a strong foundation for the rest of […]

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]]> 1873 Reverse Mortgages: Separating Myth from Reality https://www.commonfinancialsense.com/reverse-mortgages-separating-myth-from-reality/ Wed, 07 Aug 2019 17:40:33 +0000 https://www.commonfinancialsense.com/?p=1865 Reverse mortgages get quite a bit of coverage from the media—much of it negative, and not without reason. For Retirees, Home Equity can be their largest asset. Accessing that asset in retirement can be a challenge when income is lower. This isn’t new, The Federal Government has tried to assist Retirees in this report for […]

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]]> 1865 What Steps Have You Taken to Minimize the Cost of Long-Term Care Insurance? https://www.commonfinancialsense.com/what-steps-have-you-taken-to-minimize-the-cost-of-long-term-care-insurance/ Tue, 18 Jun 2019 21:10:03 +0000 http://www.commonfinancialsense.com/?p=1821 Long-term care can be very expensive for many people.  The facts are somewhat sobering: A person turning 65 today has a 52% chance of needing LTC at some point; 14% of LTC patients need care for more than five years. And at an average of $100,000 a year for a private room in a nursing […]

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]]> 1821 How Business Owners Can Quickly and Easily Retain Talented Employees With “Beyond the 401(k) Strategies” https://www.commonfinancialsense.com/how-business-owners-can-quickly-and-easily-retain-talented-employees-with-beyond-the-401k-strategies/ Mon, 13 May 2019 14:02:14 +0000 http://www.commonfinancialsense.com/?p=1800 Attracting, retaining and rewarding key employees can be challenging. As business owners, you may know first hand just how hard it can be to hold on to top employees. But since they are vital to the life of every business, keeping them committed is essential. Loyal employees are hard to come by, and with recruiting […]

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]]> 1800 The 8.5 Steps Toward Ensuring Your Estate Plan is in Order https://www.commonfinancialsense.com/the-8-5-steps-toward-ensuring-your-estate-plan-is-in-order/ Thu, 02 May 2019 19:28:46 +0000 http://www.commonfinancialsense.com/?p=1785   A lot of my meetings cover the important topics investors neglect.  I hear the phrase, “I didn’t know, what I didn’t know” frequently. This means that complacency or putting important tasks off can potentially hurt your retirement, but also your life planning and legacy.  Putting together a comprehensive retirement or financial plan covers topics […]

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]]> 1785 How to Understand a “Tax Efficient Distribution Strategy” So You Can Pay Less Taxes in Retirement https://www.commonfinancialsense.com/tax-efficient-distribution-strategy/ Sat, 23 Feb 2019 16:45:56 +0000 http://www.commonfinancialsense.com/?p=1597 In the accumulation phase of life, you were saving. But, if you’re at the distribution phase now, you are drawing down your retirement assets. “How you spend your retirement dollars in retirement IS JUST AS IMPORTANT as when you were accumulating them.” If you don’t have a plan for maximizing your withdrawal strategies, then you […]

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]]> 1597 How to Fix a LATE START for Retirement with a PENSION PLAN for PROFESSIONALS and SMALL BUSINESS OWNERS https://www.commonfinancialsense.com/how-to-fix-a-late-start-for-retirement-with-a-pension-plan-for-professionals-and-small-business-owners/ Thu, 03 Jan 2019 16:37:54 +0000 http://www.commonfinancialsense.com/?p=1449 Here’s the main problem: Many professionals like doctors, dentists, lawyers and small business owners often find they have spent so much time and effort developing their thriving practices and growing their profitable businesses that they just didn’t have the time to plan for their own personal retirement situation. However, many small business owners and professionals, […]

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]]> 1449 4 Reasons Women Should Consider ETFs https://www.commonfinancialsense.com/4-reasons-women-should-consider-etfs/ Thu, 29 Nov 2018 06:10:20 +0000 http://www.commonfinancialsense.com/?p=1310 Watch the Video or Read the Article   Let’s Face it, Women Control the Wealth! Here are the facts…. 51% or $14 trillion, of American personal wealth are now controlled by women.1 67% of women over 50 years old share in decision-making for finances with their spouses.2 Women will control about $22 trillion by 2020, […]

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]]> 1310 How to Pay Less Taxes in Retirement https://www.commonfinancialsense.com/pay-less-taxes-retirement/ Sun, 25 Nov 2018 20:44:54 +0000 http://www.commonfinancialsense.com/?p=1196 Taxes in retirement can fluctuate drastically from taxes while working full time. If you’re near retirement, you may be looking forward to the day when taxes get simpler. You could be disappointed. Everyone’s tax situation is different, but here are 6 tax issues you may encounter and ways to lessen their impact. Deductions May Disappear If your children […]

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]]> 1196 What’s the Deal With Annuities? https://www.commonfinancialsense.com/whats-the-deal-with-annuities/ Thu, 11 Oct 2018 01:42:31 +0000 http://www.commonfinancialsense.com/?p=1299 Watch the Video or Read the Article   “What’s the deal with annuities?” Jerry Seinfeld is an excellent comedian and his show Seinfeld used to start with his monologue about a certain topic and it always started with “What’s the deal with….” So, this week I wanted to cover a couple topics regarding annuities.  First, […]

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]]> 1299 Tax Advantaged Retirement Plans: What You Need To Know https://www.commonfinancialsense.com/tax-advantaged-retirement-plans-what-you-need-to-know/ Mon, 06 Aug 2018 00:49:56 +0000 http://www.commonfinancialsense.com/?p=1295 The tax code is very complicated, but it also creates a number of strategies for you to keep more of your hard-earned money, especially if you’re putting it into retirement accounts.  Uncle Sam is patient, but after a number of years of working and building your wealth, Uncle Sam wants his share of your retirement […]

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]]> 1295 The #1 Problem With Your 401k https://www.commonfinancialsense.com/the-1-problem-with-your-401k/ Mon, 21 May 2018 18:57:00 +0000 http://www.commonfinancialsense.com/?p=1290 Watch and Listen Or Read Below.   The #1 Problem with Your 401k (and by the way, it’s probably not your fault). Can you answer these questions about your 401k? What is my average annual return for the past 1, 3, 5, and 10 years? What is the real amount of risk I am taking […]

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]]> 1290 Should We Worry About Inflation? https://www.commonfinancialsense.com/should-we-worry-about-inflation/ Sat, 10 Mar 2018 21:02:21 +0000 http://www.commonfinancialsense.com/?p=1257 The markets sold off in February on concerns of runaway inflation. The fear now is that inflation will start to rise more quickly, potentially dampening growth or driving borrowing costs higher. That prospect panicked the markets in February, briefly sending stocks down more than 10% before investors recovered their nerve. The indicator that made the […]

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]]> 1257 6 Smart Strategies to Reduce Your RMD https://www.commonfinancialsense.com/6-smart-strategies-reduce-rmd/ Fri, 02 Feb 2018 21:22:30 +0000 http://www.commonfinancialsense.com/?p=1250 Saving for retirement and investing in tax-deferred accounts like your 401(k)s and IRAs is extremely helpful to reach your retirement goals. However, once you turn 70 1/2, Uncle Sam definitely wants his share, so he forces you to take withdrawals from those accounts or face a 50% penalty of the amount you should have withdrawn. […]

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]]> 1250 How to Pay Fewer Taxes in Retirement https://www.commonfinancialsense.com/pay-fewer-taxes-retirement/ Tue, 09 Jan 2018 02:35:27 +0000 http://www.commonfinancialsense.com/?p=1245 Congratulations!  You have spent a lifetime working, saving, and now you have arrived at your retirement.  Now all you have to do is become a tax expert. Preparing for paying fewer taxes in retirement is not easy.  All of that tax differed growth from your traditional IRAs faces income tax. Yes, when you take a […]

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]]> 1245 Should You Fire Your Advisor? https://www.commonfinancialsense.com/should-you-fire-your-advisor/ Sun, 22 Oct 2017 00:58:21 +0000 http://www.commonfinancialsense.com/?p=1238 Watch the Video or Read the Blog   Should You Fire Your Financial Advisor? Most investors don’t know how to ask this bold and straight-forward question.   Here are comments and questions that many investors do ask themselves:   “I have known my advisor for 20 years, but I don’t know if they’re doing a […]

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]]> 1238 How to Understand ETFs Without Being An Expert https://www.commonfinancialsense.com/understand-etfs-without-expert/ Thu, 28 Sep 2017 05:33:07 +0000 http://www.commonfinancialsense.com/?p=1232 What is an ETF: 101 That is a simple question, but the problem is when you ask investors who are 50+, the reality is they don’t know and haven’t received the basic communication they desperately need from advisors. ETFs (Exchanged Traded Funds) are very similar to mutual funds.  ETFs typically represent a basket of securities […]

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]]> 1232 The 7 Real Costs of Owning a Mutual Fund https://www.commonfinancialsense.com/7-real-costs-owning-mutual-funds/ Wed, 16 Aug 2017 00:05:34 +0000 http://www.commonfinancialsense.com/?p=1221 I see it every week, when I ask investors questions.  Whether in a meeting, video conference call or on the phone, I ask questions about their current investments.  I ask if the know the risk they truly hold and what do these investments cost them?  The answer is the same.  They don’t know. Sure, some […]

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]]> 1221 Estate Planning for Your High School Graduate: That’s Right, Your Babies are Adults Now! https://www.commonfinancialsense.com/estate-planning-high-school-graduate/ Sun, 25 Jun 2017 22:54:23 +0000 http://www.commonfinancialsense.com/?p=1205 Over the many years of helping investors, we have run into many situations when we are speaking to clients about estate planning for themselves, but also for their soon-to-be or current adult children.  The problem is that most parents just aren’t informed enough to help their 18-year olds. Many times they need the right professionals, […]

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]]> 1205 6 Different Ways You Could Lose Money in Bond Funds https://www.commonfinancialsense.com/6-ways-to-lose-money-in-bonds/ Mon, 03 Apr 2017 23:09:06 +0000 http://www.commonfinancialsense.com/?p=1194 Do You Use Bond Funds For Income? Do You Really Think They’re Safe? Do I really want to read about losing money?  YES!  This article is how to potentially avoid losing money, especially if you are approaching retirement or you are already retired.   The problem is most investors think “I’m ok” or “If interest […]

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]]> 1194 5 Crucial “Money Facts” that Could Potentially Increase Your Return https://www.commonfinancialsense.com/5-crucial-money-facts-potentially-increase-return/ Sun, 05 Feb 2017 17:19:32 +0000 http://www.commonfinancialsense.com/?p=1178 5 Crucial “Money Facts” For Zeroing In On The Cost Saving Ideas That Could Potentially Increase Your Returns…. ….And Ditching The Time Wasting and Expensive Money Wasting Products Before Your Next Statement Arrives…. Are You Using Mutual Funds? It’s been my experience that investors don’t want to give themselves a raise and lower their costs.  […]

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]]> 1178 The Worst Portfolios I Have Ever Seen https://www.commonfinancialsense.com/the-worst-portfolios-i-have-ever-seen/ Thu, 05 Jan 2017 03:42:40 +0000 http://www.commonfinancialsense.com/?p=1156 15% Apple Stock for 81-Year-Old Widow??? I have to share this shocking story with you about a meeting I had with an 81-year-old widow and the portfolio she had at a wirehouse, which I will not mention.  She had just under $1 million in assets needed to tap into her portfolio for income.  Her largest […]

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]]> 1156 How to Avoid 6 Common Investment Mistakes Most Retirees Make https://www.commonfinancialsense.com/how-to-avoid-6-common-investment-mistakes-most-retirees-make/ Thu, 05 Jan 2017 03:37:46 +0000 http://www.commonfinancialsense.com/?p=1146 10 years ago managing your own retirement was not very complicated. Buy mutual funds, stocks and bonds for a 60/40 allocation, collect the dividends and interest, and use it to pay bills while the principal remains steady.  Then 2008 happened.  Do you remember the S&P 500 falling 36%?  Today’s retirement has changed dramatically, so have […]

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]]> 1146 9 Advanced Estate Planning Strategies https://www.commonfinancialsense.com/9-advanced-estate-planning-strategies-2/ Thu, 05 Jan 2017 03:34:16 +0000 http://www.commonfinancialsense.com/?p=1149 Estate Planning can be tricky and boring to read so here are 9 quick tips for advanced estate planning strategies.  Peace of mind, financial freedom and quality of life are your goals.  If you’re not achieving all of those right now, then schedule a strategy session with a fee-only financial advisor who works with local […]

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]]> 1149 Do You Know the Origins of a Fiduciary? https://www.commonfinancialsense.com/do-you-know-the-origins-of-a-fiduciary/ Thu, 05 Jan 2017 03:32:47 +0000 http://www.commonfinancialsense.com/?p=1128 In today’s financial services industry the terminology is becoming ever more confusing. Advisor, Broker, CFA, CFP, AAIM, CIMA, and don’t forget the VHS, BETA and DVD (ha, the last 3 were to see if you were paying attention.) Now they throw in the word Fiduciary.  I did some research and the word Fiduciary comes from […]

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