Higher Education Planning: 529 Plans, Funding Options and Career Paths

Going to college is a goal for many students graduating high school.  According to the U.S. Bureau of Labor Statistics, “In October 2017, 66.7 percent of 2017 high school graduates age 16 to 24 were enrolled in colleges or universities. Among persons age 20 to 29 who received a bachelor's degree in 2017, 77.6 percent were employed.” The full realization of how much college costs may only be fully grasped after receiving an acceptance letter. Unfortunately, unless financial planning starts years earlier, many students’ dreams may be dashed, or cumbersome borrowing could become a burden that follows them for years to come.

Saturday, August 04, 2018/Author: H. William Wolfson/Number of views (253)/Comments (0)/ Article rating: No rating
Categories: Students

Social Security: Understand Your Options, Plan Properly to Access Benefits

Social Security was enacted in 1935. The program is officially known as the Old Age, Survivors and Disability Insurance program (OASDI). After earning 40 quarters, an individual at retirement age is eligible to begin collecting a benefit. Retirement benefits depend on your age at retirement. If you begin receiving benefits before your normal or full retirement age (FRA), you'll receive a reduced benefit. Four out of five future retirees agree that the Social Security system needs change. Many are fearful that benefits will be reduced and are unaware of the basics regarding their eligibility, participation and the monetary benefits of their Social Security profile. Sadly, 55 percent believe that Social Security will be their primary source of income in retirement.

Wednesday, June 20, 2018/Author: H. William Wolfson/Number of views (411)/Comments (0)/ Article rating: No rating

Lulled Into a False Sense of Security

Finding and Communicating Effectively with Financial Advisors

Less than 50 percent of the U.S. population consult and hire a financial consultant. There is a myriad of answers for why this may be. Those who do work with a financial professional have an expectation of certain results. If the goals are realistic and not achieved within a given time period, a client should obtain a clear explanation as to why discussed benchmarks were not reached. Additionally, a planner should convey concise and easily understood explanations of any suggested changes going forward. There are times where nothing should be done. Open communication is an essential part of the financial planning process.

Thursday, May 03, 2018/Author: H. William Wolfson/Number of views (497)/Comments (0)/ Article rating: No rating

Cooking Techniques and Financial Management

Whether baking a cake or preparing unique dishes, both require the necessary and assorted ingredients: time, expertise, finesse and the ability to tweak the recipe to obtain the desired results. Guess what? Portfolio construction and financial management may not be all that different. In effect, a financial professional is expected to build an investor’s portfolio after carefully ascertaining precisely what is the individual’s risk tolerance, challenges, goals, timeline for investing and end-point needs. Yet how does an investor go about locating a financial professional in the universe of available services and the multitude of different titles?

Wednesday, April 04, 2018/Author: H. William Wolfson/Number of views (473)/Comments (0)/ Article rating: No rating

Taxes, Football and Conflicting Rules

When you play in a sport and follow the rules there is an expectation of a fair game with a winner and loser. If you watched the recent Super Bowl you may have seen two touchdowns by the Philadelphia Eagles that were scored and upheld. The National Football League (NFL) "catch rule" has garnered much consternation as being interpreted differently by officials. Confusing may be an understatement. This rule seems to vex coaches, players, fans and media announcers, causing much head scratching. Whether your team won or lost, this rule is maddening. Those who love the game agree that this rule needs to be carefully reviewed and changed. So, what does this have to do with taxes?

Monday, February 26, 2018/Author: H. William Wolfson/Number of views (628)/Comments (0)/ Article rating: No rating
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