An important part of a balanced financial plan is generosity. Regardless of your background, religion, or net worth, sharing what we have with others is healthy. This 60 Minutes segment had a big impact on me (it’s worth the read or watching the 13 minute video). We’ve all been negatively impacted by COVID, but some…

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Some people make it a goal to pay off their mortgage early. In order to do this, you have to make extra principal payments. If you make a large principal payment, you can usually request that your lender “recast” your mortgage. This means they will recalculate your monthly payment using the same interest rate and…

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If you are over 70, you likely must take a distribution from your IRA each year. This is a taxable distribution so it increases your taxable income. Alternatively, you are allowed to divert some or all of your required IRA distribution to a qualified charity. If you do this, it’s not recognized as income and,…

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How much will you save towards retirement in 2021? Do you know how much you should be saving? Here are the maximum amounts you can save into the most commonly used retirement plans in 2021: 401k Pre-tax or ROTH – $19,500 401k Catch-up if over 50 – $6,500 SIMPLE IRA – $13,500 SIMPLE IRA Catch-up…

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I love the hope, optimism, and resilience that was displayed as America rang in the New Year! It’s these characteristics that enable us to rise above many different challenges. That said, things didn’t change overnight, and we don’t know what this year will hold. In meeting with clients, I began thinking about what we can…

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My family and I recently moved back into our house after a 4 month renovation. We were overwhelmed by the seemingly endless unpacking that needed to happen. My wife, Sal, is blessed with the gift of being organized so she had a plan. First, we knocked out our room so we felt organized and knew…

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It’s Thanksgiving so I can’t help myself. Gratitude is medicine. Gratitude combats entitlement. Gratitude changes our perspective. Here’s how we can practice this week: Take a moment right now and write down 10 things you’re grateful for (I just did) Invite your family, kids, or friends to share 3 things they are grateful for during…

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I recently heard someone say “don’t measure success or failure by the outcome but by the wisdom of your decision that led to that outcome.” Said another way: we can not control the outcome, but we CAN make wise decisions with the information we have available to us. This principle makes perfect sense, but it…

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