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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.

We have figured out who will win the election. The people we serve often ask us how the upcoming election will impact their investments. While many seem to have strong feelings about one or both candidates, ultimately we see this as an economic question and so we always attempt to offer an economic answer. And [] The post The Obvious Winner of the Upcoming Elections appeared first on ProsperiTea Planning - Greenfield, MA .

Planning for college expenses can be a daunting task for many families. With the continuously rising costs of higher education, its crucial to explore various avenues for saving and investing wisely. One such avenue that often goes underutilized for college savings is the Roth Individual Retirement Account (IRA). Let’s explore the advantages of incorporating a [] The post Maximizing College Savings: Leveraging Roth IRA for Education Expenses appeared first on Favored FP .

In my last blog article, I reviewed Federal income tax liability. Today we move to Social Security tax. Almost all workers, whether they work for themselves or someone else, pay Social Security taxes. How much do you pay? Let’s begin with taxpayers who work for someone else. Employees pay Social Security tax of 6.2% on []

The IRS will notify you of an audit through the mail, the agency will not initiate an audit over the telephone. Most audits are handled through the mail without the need to meet with an IRS agent.

I love baseball. It’s the best. With baseball season starting and tax returns due soon, let’s take a look at an interesting intersection between the worlds of baseball and taxes: Shohei Ohtani’s contract.

One significant difference between ETFs and mutual funds is how they are traded. ETFs trade like stocks, the market price of the ETF changes throughout the day and the price depends on when you buy or sell shares.

In todays unpredictable world, having a financial safety net is crucial for weathering unexpected storms. One of the most fundamental components of a solid financial plan is an emergency fund. Let’s delve into what an emergency fund is, why its essential, and how a financial advisor can be invaluable in helping you build and manage [] The post The Importance of an Emergency Fund and the Value of a Trusted Financial Advisor appeared first on Favored FP .

Today I got asked, by a couple that has very good financial hygiene, whether it’s okay for them to forego saving over the next three years. Between their kids’ education, a career change, and some wanted home renovation projects, there just isn’t enough money to save on top of it all. Is this an okay [] The post What Most People Don’t Understand About Saving appeared first on ProsperiTea Planning - Greenfield, MA .

Exercise can improve your finances as a result of better sleep, more vitality, enhanced processing capability, and improved concentration.

Mike Schneider

Are forecasts related to the markets and economy useful? Or are they useless? You could even argue (persuasively) that predictions and forecasts are more a source of risk rather than a tool to help you avoid risk.

Taxes are on my mind this month as tax season is in full swing. Also you may have heard there is a Presidential election later this year. I probably follow tax policy discussions more closely than the average bear, but I suspect everyone will be hearing a lot about who does or does not pay []

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’s Vacation Conference Schedule for 2024 appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .

Automate the payment of your bills to save time and avoid potential late charges. Automate monthly contributions to savings and investments.

In the pursuit of financial security, mastering debt management is the cornerstone of success. While debt is often viewed with apprehension, understanding how to effectively manage it is the key to building a solid foundation for the future. As a financial advisor, I recognize that debt can either be a hindrance or a strategic tool []

In the journey toward financial success, one of the most essential tools is strategic tax planning and preparation. While many may view taxes as an unavoidable burden, savvy investors and practical financial advisors recognize it as an essential aspect of their strategy. Mastering the specifics of the tax code can yield significant benefits, enabling you []

Make an effort to enhance your investment knowledge in 2024. Take some time to read some articles and books and watch some webinars to improve your ability to manage your finances. Plan time in your schedule to work on your finances.

"When you think about your finances, how far into the future do you tend to think and plan? Days? Weeks? Months? Years? Decades? Generations?" This is a question I often ask people during the prospective client process, as how someone answers is very helpful in understanding their financial approach. How far ahead do you think?

Financial planning is an essential tool for everyone, but its importance for women is particularly noteworthy. Historically, women have faced unique financial challenges, making strategic financial planning essential for empowerment and security. Bridging the Gender Wealth Gap Despite considerable advancements, a wealth gap based on gender exists. Factors such as wage disparities, career breaks for []

We had such a lovely Open House! Sam Plotkin introduced himself with a presentation on his thoughts about the investment markets. Happily, Gary recorded it via Zoom so you can watch his very entertaining and informative 20 minute presentation here: The post Introducing Sam Plotkin, CFA, speaking on Financial Markets and the Business of Providing Financial Advice appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .