Member Blogs

Worried about how your hard earned money in your investment portfolio seems to be going down with all the uncertainty in the market right now? Wondering how the current talk of tariffs, trade wars, and global slowdown is affecting your portfolio? Let’s talk about how the uncertainty in the market affects the three general categories of investments: Cash, Stocks, and Bonds.

I first wrote on this topic two years ago and decided to revisit as the numbers keep marching upward. Whenever the topic of COBRA comes up, the immediate response is always: “COBRA is expensive!” That’s true COBRA is expensive, because health insurance is expensive!* What is COBRA? The acronym comes from the Consolidated Omnibus []

Between two professional credentials that each need a lot of continuing education, plus family vacation time, you’ll find that Wendy works in weeks-long surges but is frequently out of the office in between. That’s okay, we’re planners, we’re good at this! Here’s how we put the Tea in Team: Wendy and Sam can both create [] The post Wendy Sams Vacation Conference Schedule for 2025 appeared first on ProsperiTea Planning - Greenfield, MA .

Operating as a solopreneur brings both opportunities and responsibilities, especially when it comes to financial management. From structuring your business properly to tracking your income, sound financial practices are essential for sustainable success. Favored Financial Planning specializes in helping solopreneurs navigate these challenges with expert financial guidance. Here are key best practices to establish a [] The post Essential Financial Practices for Solopreneurs appeared first on Favored FP .

Who’s Roth? Not someone whose parents had financial acumen and wanted to be edgy by naming them after their favorite investment account. I am of course speaking about Roth accounts, both Roth IRAs and Roth 401(k)s. Why do I love them so much? Let’s go through 9 of the reasons.

*spoiler alert: No, they are not. As I write this on the morning of February 13th, 2025, we are almost 6 weeks into the New Year and so far the SP 500 is up 3.12% in 2025. The SP 500 is a group of about 500 of the largest publicly traded stocks in the United []

Paying taxes is as much of a nuisance in retirement as having a bad pickleball partner. Make sure to plan for and submit your required tax estimates during the year and take advantage of some tips and tricks to avoid penalties and to perhaps optimize your income potential.

Are you getting bombarded by 2025 forecasts pertaining to market and economic predictions? Do you feel overwhelmed wondering how all these reports and conjecture should affect your investment strategy? Well fear not, I am here to tell you that is exactly what they are, conjecture, and should be treated as such. Read on for the details on why forecasts can be futile investment advice and what you should do instead.

Forming a Single Member LLC (SMLLC) is an exciting step for any solopreneur. It formalizes your business, protects your assets, and positions you as a professional in your field. But forming an SMLLC is just the beginning. To truly thrive, solopreneurs need a strong financial foundation to support their goals, mitigate risks, and ensure long-term [] The post Why Solopreneurs with a Single Member LLC (SMLLC) Need a Strong Financial Foundation – And How Favored Financial Planning Can Help appeared first on Favored FP .

Life is full of milestones, and while they bring joy and new beginnings, they can also significantly impact your financial and tax situation. Whether youre welcoming a new baby, entering or ending a marriage, each change comes with potential tax implications. Here’s how these milestones affect your taxes and how we can help you through [] The post Major Life Changes in 2024? Lets Discuss the Impact on Taxes: How Favored Financial Planning Can Help appeared first on Favored FP .

You're probably familiar with the term 'phishing'. Smishing, on the other hand, is like phishing but specifically when done through an unsolicited SMS (text) message. Let's learn more about this word that sounds like it's from a Dr. Seuss book.

Back in the olden days, there was a Public Service Announcement on television at 10PM asking“Do you know where your children are?” Today, I have asimilar question. Do you know where your money is? If your answer is “I’m not exactly sure” or “All over the place”, then your financial lifemightbe too complicated! “H and []

Are you in search of ways to make yourself a better investor? Do you feel like you don’t know what to do when and how? Do you get overwhelmed and confused by all the advice out there about investing? Well, let me be one more person giving you advice. No frills, selling points, or fancy terminology, just 6 quick and easy ideas of how to become a better investor.

What’s the status of the economy in the week leading up to the 2024 Presidential Election? Is it good? Is it awful? Should it affect my investing? Should it affect my vote? A quick look at the facts and stats from your friendly neighborhood financial planner.

Should we let political uncertainty and our political views affect the way we invest? Are Democrats or Republicans better for the stock market? Do politics and portfolio mix? Let’s dig in.

As we approach 2025, significant changes in the tax landscape are on the horizon, particularly with the expiration of key provisions from the Tax Cuts and Jobs Act (TCJA) of 2017. If you’re concerned about how these changes might impact your financial future, you’re not alone. At Favored Financial Planning, we specialize in crafting tax-advantaged [] The post Changes in the Tax Code Are Coming: How Favored Financial Planning Can Help You Navigate Tax-Advantaged Financial Strategies in 2025 appeared first on Favored FP .

Six years ago, I wrote about my lifelong passion (some would say obsession) for spare change. This dates back to counting the spare change and “egg money” in my grandmother’s chipped gravy boat in the 70’s. Today, this is the spare change stash in my office: But here in the 21st century, I don’t have []

Intermediate-term government bonds almost never lose money. But 2019 was the start of the worst bond bear market on record. In this video we discuss why this happened and what should be done going forward. Transcript: Intermediate term government bonds are the ballast of investments. They almost never lose money, at least when held for… [Continue] (Feed generated with FetchRSS )

As the end of the year approaches, it’s easy to get caught up in the holiday hustle and bustle, leaving financial matters like tax planning on the back burner. But at Favored Financial Planning, we know that taking a proactive approach to your taxes can make a significant difference. Instead of waiting until April to [] The post Now Is the Time for Tax Planning: Don’t Be Surprised on Tax Day! appeared first on Favored FP .

Open Enrollment season is upon us, a critical time for employees to review and make necessary changes to their health insurance and other benefit plans. This annual period is when you can select or change your health insurance, retirement plans, and other benefits provided by your employer. However, many employees overlook this crucial window or [] The post Maximize Your Benefits: The Importance of Open Enrollment and How Favored Financial Planning Can Help appeared first on Favored FP .

If you are a certain age, like me, you may recall a series of clever credit card commercials from Capital One asking “What’s in your wallet?” Here’s one from 2000 featuring a band of plundering Vikings. Today’squestion is similar – but instead of your wallet my question is “What’s in your IRA?” This topic was []

In Part 1 of this quick two-part series on bonuses, we looked at how to deal with the uneven cash flow aspects of receiving large bonuses. In this installment, we’re going to go into more detail about different ideas of what to do with the money.

Bonuses. They’re the best, no? A nice infusion of cash that comes in and opens up so many opportunities. A common issue people run into is how to deal with the “cash flow” aspects of receiving a large bonus. In this post, we’ll look at a couple of different ways to deal with the issue of having uneven cash flow, illustrated with specific examples.

Spencer Financial Planning turned 4 years old! In this blog post, I share some facts, non-facts, observations, and reflections regarding four years of providing financial planning services to my clients. Spoiler alert: I love my job.

Due to the negative tax ramifications, cashing out your plan is rarely a reasonable option.

In the hustle and bustle of securing a college education, the thought of retirement planning often takes a backseat. Many families find themselves in a position where they have meticulously saved or secured scholarships to fund their childs education but have little to nothing set aside for retirement. Favored Financial Planning recognizes this challenge and [] The post How Favored Financial Planning Can Help Students and Parents Plan for Retirement Amidst Funding College. appeared first on Favored FP .

Remember that guy or gal you dated then broke up with in the 80’s? I know, I know, I’d like to forget him too. Could that old flame get some of your money when you die? Remarkably this scenario is playing out now in federal court. You can read the whole fascinating story in the []

Successful boomers carefully manage their budgets to ensure expenses never exceed income and they believe living below your means is the cornerstone to financial stability.

Not that Bond. Those Bonds. I Bonds have been very popular investments during the past few years. But as inflation has cooled down, so has the interest rate on I Bonds. Where do things stand? Should you sell? Or stay put? Let’s take a quick look.

My step-mom was nearing the end of her ability to remain at home, and my dad was wearing out being a caretaker. Theyd managed, against all odds, to find a good in-home PCA for several days a week, and my sister took one day a week, but Mom had started to do things like get [] The post What to Tell My Dad about Nursing Home Expenses appeared first on ProsperiTea Planning - Greenfield, MA .

In todays complex financial landscape, navigating through investments, savings, and financial goals can feel overwhelming. However, Favored Financial Planning is revolutionizing the approach to financial management, making it more accessible and manageable for everyone. With a commitment to personalized service, we offer a comprehensive and supportive approach, ensuring that every client feels confident and empowered [] The post Transform Your Financial Future with Favored Financial Planning appeared first on Favored FP .

Cognitive biases and our mindset toward money have a significant impact on our investment philosophy, self-worth, sense of security, and definition of success.

ProsperiTea Planning is looking to expand our team! We are currently looking for a Manager of Office Operations, who will be responsible for multiple day to day office tasks. These tasks and at times special projects will have an overarching theme always to relieve and delight the clients of the firm. A strong attention to [] The post Hiring: Manager of Office Operations appeared first on ProsperiTea Planning - Greenfield, MA .

Semi-retirement can provide an excellent balance between work and your personal life.

What does it mean to “rebalance” your portfolio? Is it important to do? How do you do it? Let’s take a look at this important topic, as rebalancing can help you manage risk, enforce discipline, and optimize your investment returns.

As the cost of higher education continues to rise, saving for college has become a top concern for many families. With escalating tuition fees, its essential to have a solid financial plan in place to ensure that your childs educational aspirations can be realized without being burdened with excessive student loan debt. One powerful tool [] The post Maximizing College Savings: A Financial Advisors Guide to 529 Plans appeared first on Favored FP .

I have such wonderful clients. Many of them send me items of interest. Recently, my client JC, a former J.P. Morgan employee, sent me a gold mine: the J.P. Morgan Guide to Retirement 2024. It is 53 pages chock full of interesting data. You can see the whole thing HERE. But the page that really []

The world of wealth management is filled with stories of inherited wealth ruining people. Theres something infantilizing about not having to figure out how to earn a living. Earning a living is a hard nut to crack: what can you do that people will pay money for? Money sufficient to get an apartment, food, and [] The post How Much Should You Help Your Adult Children appeared first on ProsperiTea Planning - Greenfield, MA .

Financial literacy gives you control over your finances to make knowledgeable choices to achieve your life goals. When you feel empowered to manage your finances you are better able to navigate financial challenges and opportunities.

When you receive an inheritance, it is essential to understand the tax consequences of the accounts you inherit.