Dependent Care Flexible Spending Account financial planning for attorneys financial planning for young professionals Mar 31, 2020

By Glenn J. Downing, MBA, CFP®

A flexible spending account (FSA) is an elective benefit offered by many employers. There are generally two types: the FSA for healthcare expenses, and the FSA for dependent care expenses. This is part two of a two-part series. Here I describe the dependent care...

Continue Reading...
Why I Don’t Like an Annuity in an IRA financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 30, 2020

by Jonathan G. Cameron, CFP®

To me an annuity in an IRA is usually a dead giveaway that the client worked with a salesperson and not a financial planner.

Annuities, like any other tool, are not inherently bad. They work best when they do the job they were designed to do – and that job...

Continue Reading...
The Advice Industry, Part II financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 27, 2020

By Glenn J. Downing, MBA, CFP®

A lot has happened in our regulatory world since I posted the original blog piece, The Advice Industry. The DOL rule is void. The SEC is now working on final new rules for standards of client care.  

The government regulates this industry –...

Continue Reading...
The Fifteen Year Mortgage financial planning for attorneys financial planning for entrepreneurs financial planning for young professionals Mar 24, 2020

By Glenn J. Downing, MBA, CFP®

This is a really good Frequently Asked Question. Instead of taking out a 30-year mortgage, should I take out a 15-year loan? How much more are the payments? How much would I save? Can I afford it? Great questions all.

A Sample 30-Year Mortgage

Let’s use a...

Continue Reading...
 
What’s it Like Working with a Financial Planner? financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 20, 2020

by Glenn J. Downing, MBA, CFP®

I know many people reading this blog post have never engaged a professional financial planner before, and may be a bit anxious about what to expect. So let me tell you all about working with a financial planner at CameronDowning.

The First Meeting is Always...

Continue Reading...
The Difference Between Disability Insurance Coverage & Long Term Care financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 18, 2020

by Jonathan G. Cameron, CFP®

Although there are many similarities these are two very different kinds of insurance. Disability insurance coverage protects wages lost due to an illness or accident. In contrast, long term care insurance is designed to help cover costs of health care services....

Continue Reading...
 
Roth IRAs financial planning for attorneys financial planning for entrepreneurs financial planning for retirement financial planning for young professionals Mar 17, 2020

By Jonathan G. Cameron, CFP® 

What is a Roth IRA?

One of the most popular ways to save for retirement is in a Roth Individual Retirement Account, or a Roth IRA. Roth IRAs first came out in 1997 after being championed by former Senator William V. Roth of Delaware. Tax-wise, a Roth IRA is...

Continue Reading...
Investing for Millennials financial planning for entrepreneurs financial planning for young professionals Mar 12, 2020

by Jonathan G. Cameron, CFP®

Investing for Millennials is an important topic for a generation set to inherit a massive amount of wealth over the next few decades. Millennials will likely inherit $30 trillion from boomers over the next 30 years[1].  The questions for Millennials are,...

Continue Reading...
 
Roth Conversions financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 09, 2020

by Jonathan G. Cameron, CFP® 

A Roth conversion means taking your Traditional IRA, or some portion of it, and turning it into a Roth IRA.  Whatever dollars are converted become taxable to you right then and there.  

Who should consider a Roth conversion?

In a previous post...

Continue Reading...
Ordinary Income Taxation vs. Capital Gains Taxation financial planning for attorneys financial planning for entrepreneurs financial planning for retirement Mar 05, 2020

by Glenn J. Downing, MBA, CFP®

In this post I’m tackling a tax topic: The difference between ordinary income taxation and capital gains taxation. What’s the difference and why is it important to know? One word: taxes.

The IRS taxes your income, as you know, but it also taxes...

Continue Reading...
Step Up in Basis financial planning for retirement Mar 03, 2020

by Glenn Downing, MBA, CFP® 

 In a previous entry I discussed the difference in taxation of capital gains property vs. ordinary income property. That piece discussed what happens on your form 1040.  This piece looks ahead to your eventual mortality.  What happens when you...

Continue Reading...
 
How Do I Improve My Credit Score? financial planning for attorneys financial planning for entrepreneurs financial planning for young professionals Mar 03, 2020

by Jonathan G. Cameron, CFP®

An important financial concern that we often hear from clients is, “How can I improve my credit score?” First of all, I have to give a quick disclaimer that our company, CameronDowning, is not a credit repair or debt consolidation service. Our goal is...

Continue Reading...
1 2 3 4 5 6 7 8 9 10 11