Member Blogs

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  • You can't live without your spouse... but will living together in retirement drive you crazy? Make sure that your retirement goes smoothly by taking these things into consideration.
  • Lakeside Financial Planning (LFP) wants to let you know that we are here to support you during this difficult period. Rest assure, we still are fully operational, and have always been, from a remote perspective.
  • It’s important to devote time to enhance your career and increase your earning potential. This includes working effectively in your current position and taking time to improve your skills and education to progress in your career.
  • When the Finance101 article “Why donating your travel miles is a good idea” was written,  during the holiday season last year,  some of us would have no idea that we would, in a sense, be grounded for months in 2020 due to the Coronavirus pandemic. While we mourn our canceled trips and travel opportunities, we still may [] ©Bring Clarity to Your Finances™. Did You Know You Can Donate Travel Miles? is a post from Bring Clarity to Your Finances™
  • Ive been hearing that people are getting their stimulus payments in the form of an Economic Impact Payment Card instead of a check. Ive checked it out: its not a scam, its really the government trying to send you money (using MetaBank as a bizarre middleman for some reason.) Heres what you need to do [] The post How to use the Economic Impact Payment Cards appeared first on Wendy Marsden, CPA, CFP® .
  • One of the more frequent questions we get in times like this is “What do you think the markets will do?” I don’t know over the short term — seriously, not a clue. But for those seeking clarity, there’s no shortage of poo flinging monkeys who will answer that question. Just turn on the financial… [Continue] (Feed generated with FetchRSS )
  • College students and their families are pondering their next move with the changes in the higher educational landscape that are the result of Coronavirus-related campus closures. These are no small matters but while they grapple with whether to continue school or perhaps take a semester off, there are other issues to consider. Yahoo! Finance addresses [] ©Bring Clarity to Your Finances™. Did You Get a Refund After Paying College Expenses with a 529 Plan? is a post from Bring Clarity to Your Finances™
  • One of the accepted facts in the world of investments is this: When the stock market goes down, Roth conversions start looking more attractive to investors. Since the coronavirus ended a decade-plus bull market earlier this year, that point seems to be more amplified. This article aims to help explain the benefits of doing a Roth conversion in a down market, as well as outline 7 things you should consider when doing so, especially for the first time. (Feed generated with FetchRSS )
  • Investing, as in gardening, is a slow and steady process. Get started, set a plan, keep a long-term perspective and stick to your plan. Patience and perseverance will help you build a gorgeous garden and a more secure financial future.
  • For business owners, limiting coronavirus-related revenue losses is priority. Learn how your insurance policy fits into the picture.
  • Abigail Adams was ahead of her time in many ways. She married John Adams the future 2nd president in 1764. During the early years of their marriage, John was frequently away. At a time when women rarely handled business affairs, Abigail tended the family business, a farm in Quincy, MA (where I live) during his []
  • Whether you think the pandemic has been a great equalizer or whether you think that it has exposed a lot of inequity, the current financial downturn has already or likely will challenge you in some way. How you manage through these challenges will depend in part on your money mindset. If you didn’t have great [] ©Bring Clarity to Your Finances™. Basic Personal Finance Advice is a post from Bring Clarity to Your Finances™
  • Despite Disastrous Jobs Report, Stocks Surged 1.6% Friday Since the Coronavirus bear market low on March 23, 2020, stocks have soared 26.8%! That’s only 14.5% off the all-time closing high on the S&P 500 on February 19, 2020. On the same day the Labor Department announced job losses that are literally off the chart, that the nation lost a decade of jobs gains, the stock market shot up by 1.6%! Why? Stocks are looking past the pandemic, at a sharp recovery. Here’s a look at three forecasts for the economy, from independent institutions. The most optimistic is the consensus forecast of 60 economists in early April. They expect a v-shaped recovery back to the pre-pandemic level of economic activity by the end of 2021. The international Monetary Fund forecast is a bit less sanguine, projecting that U.S. gross domestic product will be 1.5% smaller at the end of 2021 than at its pre-pandemic peak. And finally the least optimistic of the three forecasts is from the Congressional Budget Office, which project the economy will be 3% smaller at the end of 2021 than it was in the quarter before the outbreak. While the three forecasts differ about the precise strength of the recovery, That’s why, despite disastrous economic news, stocks have soared. Please contact us with any questions or to set up a meeting fulbrightteam@moneyful.com , and don't hesitate to share this video with people who might benefit from our work
  • Roth conversions can make absolute sense for people, when done with a specific, realistic, and intentional goal in mind. Once the goal is established, then putting together a plan, which you systematically execute, evaluate, and adjust, will help you ensure that your Roth conversions go more smoothly. (Feed generated with FetchRSS )
  • Will colleges be open for in-person instruction in the fall? This is a question many incoming students are currently facing.
  • A Forbes article, “On Mother’s Day 2020, 4 Life Lessons to Learn From The Coronavirus” offered perspective in these interesting times. Mother’s Day has past but we are all still reflecting on the changes the pandemic has brought to our way of life (and still honoring mothers). One thing we can do is “Appreciate That [] ©Bring Clarity to Your Finances™. Reflecting on Mothers Day and Changing Financial Circumstances is a post from Bring Clarity to Your Finances™
  • If you were planning to buy a home before the COVID-19 pandemic began, here are some things to keep in mind before making your next move.
  • Of all the articles I have read, not one of them was written from a client’s perspective. After all, every truthful adviser will agree that it is times like these where financial advisers should be adding the most value to their clients—wouldn’t be useful to try and capture the client’s perspective in this? So, here is a list of ways your financial adviser should be earning their keep—written from what I believe to be the client’s perspective. (Feed generated with FetchRSS )
  • If you've recently received your $1,200 stimulus check, have you thought about what you'll do with it? We're offering 6 productive things you can do with your stimulus check right away.
  • The necessity to practice social distancing allows us to do things we previously didn’t have time for.
  • Today is Cinco de Mayo and this holiday is an opportunity to look at marketing versus meaning.Before the COVID-19 crisis people were especially looking forward to this year’s Cinco de Mayo because it also fell on the day of the week people like to call Taco Tuesday. Even with the need for social distancing, some [] ©Bring Clarity to Your Finances™. Cinco de Mayo: Marketing and Meaning is a post from Bring Clarity to Your Finances™
  • Over the past month, a significant number of clients have actually asked to put estate planning on the agenda to discuss. Many of these are from clients who want to make sure everything is up to date. However, a surprising number is from clients who felt that estate planning wasn’t the most important topic at the time we brought it up. Now it is. (Feed generated with FetchRSS )
  • Whether you inherit an IRA from a spouse or non-spouse, there are important steps to execute as an heir and details to address along the way.
  • If you have questions about your student loan debt in the midst of COVID-19, here are five questions that you should be asking to figure out what to do next.
  • What to do right away: In the first few hours? Nothing is fine. Just breathe. There’s stuff to do, but it isn’t urgent. You don’t even need to move the body right away, it’ll keep for at least a day. It’s fine to just take a beat. This sucks, and Im sorry. If it was [] The post The Survivors Checklist: Your Loved One Just Died. What Now? appeared first on Wendy Marsden, CPA, CFP® .
  • In “5 Strategies for Retirement Immunity  Despite the Coronavirus Crisis,” on Kiplinger.com, Evan T. Beach, CFP, AWMA offers tips for keep yourself on track. Save Cash—If you are still working you can work on growing your rainy-day fund. While many people have already lost their jobs, many more may still find they are without employment  in the months [] ©Bring Clarity to Your Finances™. Tips to Protect Your Retirement Savings Amid the COVID-19 Crisis is a post from Bring Clarity to Your Finances™
  • Durham, Raleigh, NC, Financial Independence, Wayne B. Titus III, Ed Fulbright,
  • Falling victim to a scam is the last thing you should have to worry about amidst the global COVID-19 pandemic. Remain vigilant and alert as you keep you and your loved ones protected during these uncertain times.
  • The Beginning Of The End? The Coronavirus financial crisis is being compared to the near-collapse of the global financial system in 2008 and The Great Depression from 1929 to 1939, but there is one big difference this time: The Fed. The Federal Reserve Bank is using innovative new tools to contain the financial damage of the Coronavirus epidemic. In the financial crisis of 2008, the chairman of the Fed at the time, Ben Bernanke, an academic who had spent decades studying previous financial crises, repeatedly deployed a technique called quantitative easing, expanding the Fed’s balance sheet to buy back U.S. Government bonds on the open market to lower long-term interest rates. The tactic had never before been used by a central bank in a major economy. It worked! and QE was one of the reasons the U.S. recovered smoothly from The Great Recession of 2008 and 2009. The Fed’s response to the Coronavirus crisis is literally 10 times more powerful. Under the $2.2 trillion Coronavirus Aid, Relief, and. Economic Security Act enacted March 27, 2020, the U.S. Government allocated $454 billion to Federal Reserve Bank Special Purpose Vehicles that the central bank can leverage 10 to 1, enabling it to lend up to $4.54 trillion to companies. That’s reportedly more than all U.S. commercial and industrial loans outstanding at the end of 2019 plus all the new corporate bonds issued during 2019 combined! Although this expansion of the Fed’s power has been criticized already as a step toward a centrally planned economy, the government action limits the risk of massive corporate bond defaults. The U.S. led the worldwide economic recovery back from the global financial crisis of 2008, in part because of the Fed’s innovative approach, and Yankee ingenuity, in the form of the Fed’s new tools, is at play once again in fighting the Coronavirus financial crisis. Please contact us with any questions or to set up a meeting fulbrightteam@moneyful.com , and don't hesitate to share this video with people who might benefit from our work
  • Big news: starting in 2020 youre going to be able to go back to deducting at least some of your charitable gifts, up to $300, on the front of your tax return, as an adjustment to income. Thats relatively small, but still worth thinking about as you consider your overall charitable giving strategies.  Here [] The post Strategies Around Charitable Giving appeared first on Wendy Marsden, CPA, CFP® .
  • Im reading #TaxTwitter to try to keep up with the rapid changes happening to help the Self-Employed. The national programs are the Economic Injury Disasters Loans (EIDLs) or the Paycheck Protection Program (PPP): here is a great resource created by Sam Jacobs. Im also really appreciating the writings of Adam Markowitz and Jeff Levine on [] The post COVID Relief for the Self-Employed appeared first on Wendy Marsden, CPA, CFP® .
  • Its open! Apply for Pandemic Unemployment Assistance for the Self-Employed using this link. Youll want a guess about your income from 2019, using your GROSS income, the top line on your Schedule C. You can estimate it. Youll need your drivers license on hand. Youll need a check handy to give them the routing numbers [] The post How to Apply for MA Unemployment if youre Self-Employed appeared first on Wendy Marsden, CPA, CFP® .
  • Yesterday I discovered that people who didnt get refunds on their most recent tax return dont seem to be getting the direct deposits, even if their banking info is on file. The IRS does not assume the account you use for making payments is the account they should direct deposit into. There are three solutions: [] The post If you havent gotten your $1200 stimulus check, read this! appeared first on Wendy Marsden, CPA, CFP® .
  • We’ve discussed the gender pay gap and women’s overall economic vulnerability and all that was before we all had to meet the challenges of a worldwide pandemic. Many people have lost work due to the shuttering of the economy and according to CNBC, Women May Take an Extra Hit from the Coronavirus Pandemic because women [] ©Bring Clarity to Your Finances™. The Coronavirus Pandemic Has Made Some Women Even More Economically Vulnerable is a post from Bring Clarity to Your Finances™
  • If you’re currently on Medicare, and paying IRMAA surcharges, you might be wondering what impact the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act might have on your IRMAA surcharges. The short answer is that there does not appear to be anything in the Act that directly impacts your IRMAA for 2020. The longer answer, however, is that there still might be something you can do to lower or eliminate your IRMAA for 2020 or in the future. (Feed generated with FetchRSS )
  • For those of you who have not received your stimulus check, the IRS has a new link where you can check the status.
  • As we all adjust to our "new normal" and work remotely for the foreseeable future, you can make things easier with these 7 helpful tips.
  • The current drop in the market is different than many previous market declines because it is driven by one event, the coronavirus. Although this creates tremendous uncertainty, this crisis will pass, and life will return to normal once the virus is under control.
  • The first of the “Economic Impact Payments” were direct deposited into recipient bank accounts this week. These payments are part of the sweeping CARES Act stimulus bill. The amount is $1200 per person, with an additional $500 for each qualifying child. To qualify the child must be under the age of 17. People who are []
  • This morning I woke up and discovered that theres a live tool to change your bank account with the IRS if you changed bank info since 2018 but havent yet filed for 2019. I had a client in that situation, so I called up and got permission to do this, and this is how it [] The post If your bank has changed since you last filed a tax return, you need to see this! appeared first on Wendy Marsden, CPA, CFP® .
  • Stay Healthy, Everyone!

    While we focus on keeping our community healthy, we also need a little reminder to take care of ourselves. Here are a few tips to keep yourself going strong through this crisis.
  • The extra time being spent at home and an increased awareness of our vulnerability has led some people to think about estate planning as they are either sheltering in place or needing to keep their distance from people when going out. Others may be working in places where they have an increased risk to illness [] ©Bring Clarity to Your Finances™. Estate Planning in the Time of Corona is a post from Bring Clarity to Your Finances™
  • The size of your economic stimulus check is dependent upon three factors; tax filing status, adjusted gross income, and the number of qualifying children under age 17
  • Student loan deferrals are happening, in many cases automatically! Heres the details, but the tldr; is that loans are at 0% and you may stop paying through September 30. Each individual lender is treating this somewhat differently about whether theyve stopped automatic payments. Its a very good idea to stop your automatic payment when youre being [] The post Urgent Student Loan Changes in a Nutshell appeared first on Wendy Marsden, CPA, CFP® .
  • RMDs are suspended for 2020! That means that we do not HAVE to take a distribution. You still can, of course, you just arent being required to. Its still a good idea to use up low tax brackets with IRA distributions even if youre not being forced. Ill be revisiting this for all my ProsperiTea Planning retainer [] The post Nutshell tax changes for my clients over 70 appeared first on Wendy Marsden, CPA, CFP® .
  • In the wake of all that has happened because of the worldwide Covid-19 pandemic the federal government has extended the filing deadline for federal income taxes to July 15. If you have not already filed your federal income tax return, you have until that date to file. However, each state did not automatically do the [] ©Bring Clarity to Your Finances™. Federal Income Tax Filing Deadline Extended; Check Your State Deadline is a post from Bring Clarity to Your Finances™
  • While bear markets are scary enough, this one not only came swiftly, but was also compounded by the uncertainty and fear of watching a global pandemic roll across America. This is not only affecting everyone in some way, but may also be infecting some of our own family and friends. Worse, this is all unfolding as we look around at our communities, which appear as ghost towns as a result of social isolation.
  • A summary of the most important provisions of the CARES act for individuals, including recovery rebates, retirement accounts, unemployment benefits, etc. [More] (Feed generated with FetchRSS )
  • We recently saw a social media post warning people not to look at their 401(k) accounts as we are in the midst of a global pandemic related to the spread of COVID-19. And as many have noted, it is possible that if the illness itself doesn’t get you, then anxiety and worry could wear you [] ©Bring Clarity to Your Finances™. Financial Planning in Times of Crisis is a post from Bring Clarity to Your Finances™