• Tax & Financial Impacts Of Divorce: 10 Mistakes To Avoid

  • By: SerenaDema Added: 06-11-16
  • 13. My Medicare or social security income will be affected. Social Security and or Medicare benefits are not impacted by receiving this type of loan because they are not viewed as income.

    The second aspect of financial planning is seen in the choosing and working towards realistic long-term goals. These goals are the motivation behind controlling your finances. You may want to get out of debt, buy a house, go to college and retire comfortably. You might want to see the ocean for the first time -- in Mexico. You might want to tour Europe with your daughter when she graduates college. No matter what your goal, it will be the fuel to keep you on the right path. Use it.

    Continually CNBC bashes gold as gold is the enemy in their book. They'd rather you put your trust in assets that don't counteract the fall of the U.S. dollar. How has that worked for investors the last 10 years? Not well.

    With traditional securities, the underlying value of the companies you are buying stock from can be manipulated, inflated, and faked (remember Enron, Worldcom, Madoff,...). Poor and fraudulent accounting, embezzlement, waste, all erode a company's worth, and there's a huge incentive to inflate the perceived value of your company to more than it really is (to raise your company's stock value, receive higher pay for your role with that company,...).

    The planner can only perform as well as you communicate your goals and objectives. Don't hold back the questions or concerns about your financial future. When you are open about your finances, a planner will be able to advise accordingly.

    About two years ago my wife and I made an appointment with a calgary financial planning. He asked us to fax him certain information before the appointment. And he asked us to bring other information with us to the appointment.

    Gold used to back our currency, but for the last 38 years it has not. What really backs our currency? The answer is the full faith and debt of the U.S. government. The dollar has lost 81% of its purchasing power in those 38 years. What cost $1 in 1971 costs $5.31 today for that same item.

    If you have any kind of concerns regarding where and how to make use of financial management, you could call us at our own web site. For instance, a Morningstar report will tell how a mutual fund's performance ranks with all other mutual funds that have the same objective. It provides an independent, objective report that will let you know how well your investments have performed. It will also help you see whether your advisor is doing a good job for you.

    Reexamine life insurance policies. With retirement nearby, the children out of the house and the mortgage balance reduced, you may be able to reduce your coverage. You could also consider moving into a smaller home after retirement. Many retirees downsize to cut back on expenses and increase funds available in retirement.

    Do simple things, too. Turn lights out in your home when you leave a room, lower your heat, wash only full loads of laundry, reduce your cable service and any thing else you can.

  • (0) (0 Votes)
  • Reply   |   Report abuse
  • Bookmark and Share