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The Financial Planning Process

June 16th, 2010 at 07:28 pm

Introduction to Financial Planning
Everyone has a unique financial situation. At (insert name) our plans are geared to address your concerns and financial wants. One Financial Plan does not fit all. We take pride in having open and candid dialogue with our clients to help them achieve all their financial goals.

The Review
It is difficult for anyone to make financial decisions unless they take the time to evaluate their current situation. Sitting with us for a Financial Review will give you a good understanding of all the details in every aspect of your personal and business situation. We can review what you are doing right and look at points the might be reasons for concern.

The Strategy
Not everybody's situation demands a comprehensive Financial Plan. It is possible that your current situation does not dictate this approach. It is possible that a Financial Plan might be an excellent decision for you other circumstances can hold you up from entering this process as this time. Our goal is put in place focused financial strategies to solve your specific concerns.

Saving For College

October 8th, 2009 at 02:47 pm

1. Pay yourself first
Saving for your own retirement is more important than saving for college. Your children will have ways to raise money for college other then from you as for your retirement you only have yourself.
2. Start Early
Even small savings can add up if you give them enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8% average annual return.
3. Stocks are best for your college savings portfolio
Tuition costs rising faster than inflation, a portfolio leaning toward stocks is the best way to build savings in the long term. As the time to use this money approaches you can shift the portfolio towards more bonds and cash.
4. You dont have to save the whole amount of tuition
There are federal, state, and private grants and loans that help make up the rest.
5. With mutual funds, investing for college is simple
Investing in mutual funds puts a professional in charge of your savings so that you don't have to watch the markets daily.
6. Tax break benefits
There is a wide range of benefits from the Hope Credit and Lifetime Learning Credit or if your income is too high to qualify for those credits, you may qualify for a higher education expense deduction that will be in effect through 2009 and is extended periodically.