Category: Financial Planning

Many people enter retirement without a plan. The coble together many types of investments, CD's and annuities, without trusting one advisor group to handle ALL of their plans. This causes errors, loss, excess taxation, and many run out of money. You need one specialist. One quarter-back. One dream team....
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Beneficiaries Who gets your money

Annuity Beneficiary Considerations A beneficiary is a person or entity that receives the value of the annuity or annuitization payments that remain (if any) after the death of the annuitant or owner. The annuitant or owner receives annuitization payments during his or her life (the annuitant provides the measuring...
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What is a Bear Market?

If you're reconsidering your current investment strategy, a volatile market is probably the worst time to turn your portfolio inside out. Dramatic price swings can magnify the impact of a wholesale restructuring if the timing of that move is a little off....
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How to Tap Retirement Savings during a Financial Crisis

If your work-based retirement plan allows loans, you typically can borrow up to the lesser of 50% of your vested balance or $50,000. Most loans must be repaid within five years, but if the money is used to purchase a primary residence, the repayment period may be longer. The...
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You are going to retire when?

Just how wealthy are you? You'll want to figure that out before you make any major life decisions. Your first impulse may be to go out and buy things, but that may not be in your best interest. Even if you're used to handling your own finances, now's the...
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Money after Marriage

Merging Your Money When You Marry Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to face is how to merge your finances. Planning carefully and communicating are important because the financial decisions that you make now can have...
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Working In Retirement

Working During Retirement Planning on working during retirement? If so, you’re not alone. An increasing number of employees nearing retirement plan to work at least some period of time during their retirement years. Why work during retirement? Obviously, if you work during retirement, you’ll be earning money and relying...
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Portfolio Performance

Assessing Portfolio Performance: Choose Your Benchmarks Wisely You can’t help but hear about the frequent ups and downs of the Dow Jones Industrial Average or the S&P 500 index. The performance of both major indexes is widely reported and analyzed in detail by financial news outlets around the nation....
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Financial Stress

Five Steps to Tame Financial Stress Do you sometimes lie awake at night thinking about bills that need to be paid? Does it feel as though you’re drowning in debt? If this describes you, you might take solace in the fact that you’re not alone. A recent report released...
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Indexed Annuities

If you want to limit potential losses while participating in the potentially attractive returns of a market-driven investment but would also like a guaranteed return, an indexed annuity might be worth checking out. The performance of indexed annuities, also referred to as equity-indexed or fixed-indexed annuities, is tied to...
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Getting Help from a Financial Professional

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...
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Laid Off

Did you lose your Life Insurance from work? Get a FREE Term Life Quote here: https://www.naaip.org/gfsfinancial/compare-life# There are a number of ways you can smooth the transition to your next job. To begin, you’ll want to plan on your job search taking six months and budget accordingly. Your budget...
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Unemployment Compensation

Unemployment Compensation What is unemployment compensation? Unemployment compensation (also called unemployment insurance) is a federal-state system of benefits that pays workers who are involuntarily unemployed a portion of their wages until they are able to find another job. How is unemployment compensation funded? Unemployment compensation is financed by employer...
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Coping with the Emotional Impact of Losing Your Job

Coping with the Emotional Impact of Losing Your Job Job loss can cause stress Losing your job can exact an emotional toll on you and your family. Recognizing these emotions and dealing with them positively can go a long way toward helping you and your family cope with the...
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Setting Up a Support Network When You’re Unemployed

Setting Up a Support Network When You’re Unemployed What is an unemployment support network? An unemployment support network is a group of people, organizations, or resources available to help you cope with issues that unemployed people must face. Setting up a support network when you’re unemployed is important for...
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Surviving Financially When You’re Unemployed

Surviving Financially When You’re Unemployed What is it? When you lose your job, you may have to put yourself on a financial diet. Just as losing weight is simple if you eat less (and exercise more), staying afloat financially is simple if you spend less. Is this process going...
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Starting a Family Checklist

Starting a Family Checklist General information Yes No N/A 1. Has relevant personal information been gathered? 2. Marital status? Time frame for starting a family 3. Has financial situation been assessed? Income Expenses Assets Debts and liabilities Insurance information Employee benefits available Notes: Money management Yes No N/A 1....
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Capital Gains Tax

Capital gains tax is imposed on gains realized from the sale of capital assets such as a home, an investment, or a business interest. Special maximum tax rates generally apply to long-term capital gains; these rates are typically lower than the rates that apply to ordinary income. These special...
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Lifetime (Noncharitable) Gifting

What is lifetime (noncharitable) gifting? Gifting can be a powerful estate planning tool, allowing you to transfer your wealth to others during your lifetime. Lifetime gifts have many advantages over gifts you might leave in your will (these are called bequests, legacies, or devises). You might find making lifetime...
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Dealing with a crises

Dealing with Periods of Crisis What is it? By definition, a crisis is a turning point, a time when you have to make crucial decisions (often suddenly) that will affect your future. Although smart planning is the key to effectively dealing with periods of crisis, you may find yourself...
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COBRA

COBRA Coverage: Health Care During Transitional Periods What is COBRA? The term “COBRA” is commonly used to refer to certain provisions of Title X of the Consolidated Omnibus Budget Reconciliation Act of 1986. This law provides an opportunity for employees and their dependents who have been covered by an...
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Job Loss

DID YOU LOSE YOUR GROUP LIFE INSURANCE? GET A FREE QUOTE HERE: https://www.naaip.org/gfsfinancial/compare-life# Surviving Financially When You’re Unemployed What is it? When you lose your job, you may have to put yourself on a financial diet. Just as losing weight is simple if you eat less (and exercise more),...
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Hardship

I am behind on my mortgage payments. Will my lender begin foreclosure proceedings? Question: I am behind on my mortgage payments. Will my lender begin foreclosure proceedings? Answer: When you buy a home using a mortgage loan, your home becomes collateral for the loan. If you do not repay...
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Giving

Charitable Giving When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes. A few words about transfer taxes The federal government...
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Medical Bills

Coping with Medical Bills A single procedure or trip to the hospital can fill your mailbox with stacks of bills. These can come from hospitals, doctors, pharmacies, emergency rooms, labs, and many others. The stress involved with handling all of this paperwork can be almost as overwhelming as the...
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Illness

Coping with Illness What is coping with illness? Illness is unpredictable because it usually strikes without much warning and it’s difficult to predict how long a disabling illness will last. As used here, illness refers to both a disabling illness or injury that leaves you unable to work and...
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Storing your information

I’m thinking about storing financial documents in the cloud. What should I know? Cloud storage–using Internet-based service providers to store digital assets such as books, music, videos, photos, and even important documents including financial statements and contracts–has become increasingly popular in recent years. But is it right for you?...
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Health Insurance Options

How do I compare my health insurance options during open enrollment? The decisions you make during open enrollment season regarding health insurance are especially important, since you generally must stick with the options you choose until the next open enrollment season, unless you experience a “qualifying” event such as...
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