About three months before your birthday, taxpayers should receive their "Earnings and Benefits Estimate Statement" from the Social Security Administration. This annual report will give you an idea of how much you may receive in Social Security when you retire. For a description of the information you will find on this statement, read this Financial Strategy.
Beginning in 2011, Education Savings Account contributions will be capped at $500 per year per child, and expenses for primary education will not be considered qualified expenses. For more changes to these accounts and recommendations on what you can do with funds in an ESA, read this Financial Strategy.
At Henssler Financial, we have established our Henssler Model Portfolio, which is a mix of our recommended high quality, individual common stocks. Our Model generally yields between 1.5% and 2% in terms of dividends. Over the years, we have also created a couple of income portfolios, one that has a higher current yield with…
A tight economy is no reason to postpone your travel plans until better times. While our econonomy is beginning to recover, bookings are still soft for airlines and hotels, so you may be able to benefit from discounting. For more information on how to stretch your dollar especially when traveling abroad, read this Financial Strategy.
Let’s create a visual here. Picture an editorial cartoon of a Prius driving down the road. In that Prius are two graduates hanging out the windows drinking from what looks like vodka bottles, but instead of vodka, the bottle says “Power.” There is also a sign under the window of these graduates that says…
A guardian is someone who the parents choose to care for their minor children in the event they cannot. While this may prove to be a tough decision to make, once agreed upon, the guardian can be simply named in the parents’ Wills. For more information, such as the things to consider when choosing a guardian, read this Financial Strategy.
Children play a humongous role in your financial life. When adding a child to your family, you should prioritize and address the most critical areas of your finances to prepare for the future. Having a child involves estate, insurance, tax, and education planning. For more information on how a child affects each of these key areas, read this Financial Tip.
If you are 50 years old or older by the end of your retirement plan year, you are eligible for a catch-up contribution allowed in IRA, 401(k), 403(b) and SIMPLE plans. For more information on the amount of the catch-up contribution allowed by each type of plan and other frequently asked questions, read this Financial Strategy.
If you were faced with an emergency, would you have the funds to cover it? Emergencies may vary from needing a new roof for the house to unemployment. An emergency fund with cash and cash equivalents in low-risk investments provide easy access to money should you need it. For more information on how much you should have in your emergency reserve, read this Financial Tip.