FINANCIaL
FIELd NOTES
How Much Can I Give Tax-Free Every Year?
Many clients that I work with want to begin gifting to their children and grandchildren. I love helping with this transition because it allows them to see the benefits of their gift instead of waiting to pass on an inheritance until after they are gone. The gifts can also be timed to help during pivotal moments in their lives, such as weddings, down payments, and college costs.
But exactly how much can you give without incurring taxes?
The Worst Quarter For Bonds In Decades
Bonds, a typically safe and less volatile asset when compared to stocks, had their worst-performing quarter in decades. In fact, as of this writing in the first week of April, bonds are down nearly 8% from their highs.
Are You On Track For Retirement – A Quick Checkpoint
How much do you need to retire? The answer varies by individual circumstance but simple rules can be helpful as a starting place. JPMorgan provides a rough estimate based on your age and income level…
Should You Take Social Security At 62 And Invest It?
When to take Social Security is one of the biggest financial decisions retirees make. For some individuals, there is no choice – they need the income as soon as possible.
For those in a financial position to wait and get income from other sources, like investments, the decision can be more complex…
My Experience With A Human Travel Agent
About a decade ago when my wife and I got married, we were referred to a travel agent. We went to his office, gave him our budget and a few preferences, and about an hour later we had booked every detail of our honeymoon.
It was a great experience that saved us a lot of time and uncertainty. He also beat the price I had seen on the “Cheap Caribbean” website and had gotten us a free upgrade!
How Much Do You Need In An Emergency Fund?
It is common practice that a typical emergency fund should be 3 to 6 months of essential expenses. Typically 3 months is sufficient if you have a secure job with consistent pay or there are two spouses working full time in the house. Typically 6 months is best if you have inconsistent pay (commissions, bonus, etc) or only one household member works.
However, how much your expenses are in an emergency is much different than how much your typical expenses are…