Financial Planning Toolkit For Single Women [and the people who love them]

Last month I helped a client with a notice she got from the IRS regarding her 2015 tax return. She was not my client then – I did not prepare her return. Like most people, her inclination upon receiving this mail was to immediately write a check for the amount they said she owed. WAIT,… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

This month I spoke to a woman who was confused about 401(k) transfer rules. She had recently left a job and wanted to roll her prior company 401(k) into her new company 401(k), but thought the transfer limit was $18,000. She had more than $18,000 in the old plan, and wondered what to do with… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

Last month I recommended the site creditkarma.com to a client. This is a great site for checking your credit scores and reports. It’s secure and it’s free! Detailed 3rd party review HERE.

Financial Planning Toolkit for Single Women [and the people who love them]

Last month I talked to a 26 year old woman just getting started in life about the fundamentals of fiscal fitness. Fundamental number one: Save at least 10% of what you earn. Right now. Today. Automate the savings so it disappears before you even see it. Last month I also talked to a couple in… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

Last month I called the MA Department of Revenue for a client who’d received an obtuse tax notice. Delightful hold music at the DOR such as “I’ve Got you Babe” by Sonny and Cher. They probably haven’t changed their hold music since that song came out. What looked like an officious and vaguely scary sort… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

This month I advised a client who was unhappy that he had to take a distribution from his IRA this year. The year you turn 70½ you must start taking required minimum distributions (RMDs) from your Traditional IRA accounts. (Technically your first year you have until April 1st of the following year, but every year… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

It’s tax season, and you should give a tax person a hug and a cup of coffee. This month I helped two clients who installed insulation save money on their tax returns with a home energy credit.

Financial Planning Toolkit for Single Women [and the people who love them]

This month I helped a newly retired client make some important spending decisions.   Transitioning from decades of putting money away for your future to actually spending that money once the future is here can be difficult. As a planner, one of my most gratifying tasks is helping some clients see they can afford to… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

Are you divorced? Check your beneficiary designations right now! Recently I heard the sad story of a woman who had recently divorced. Shortly afterward, she fell ill and died prematurely in her late 60’s. Unfortunately, the beneficiary designation on her substantial IRA was her ex-husband. He gets the money. Beneficiary designations alone determine who inherits… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

Last month I helped a client minimize taxes by selling some mutual funds that had risen in value. In her case the capital gain will be taxed at 0% because her taxable income is low this year. When your income is below a certain amount your capital gains tax rate is ZERO! One of the… Continue