Coins

Develop Your Spending Perspective: Wants versus Needs

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Whenever I’m helping clients get clear about their spending we start by breaking their expenses down into two core categories: needs and wants. It seems pretty simple. Needs are things we must have to survive, such as food, water, shelter. Wants are things that we would like to have, but could live without. In theory, it’s an easy concept to understand. But in practice, it’s not so straightforward because people categorize spending based on … Read More

home buying what is escrow

Buying or Selling a Home? Understand the Escrow Process

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Over the last few months, I have talked with quite a few people that are thinking about buying or selling a home in the coming months. They want an idea of what they should do to prepare for it. Beyond my financial “dollar and cents” guidance, I like to layout the home buying/home selling process so they are prepared for the different steps that need to be cleared. If you have never gone through … Read More

Setting Goals

Setting Meaningful Goals: Simple Questions to Help You Focus

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I hope your 2014 is off to a good start! Based on my goal setting post from last year, some of you may know I have a great resistance to being another source of “New Year’s Resolution Noise.”  Quite a few of you, though, contacted me to ask for coaching support as you work through the outline of my goal planning process that I shared last year. So I’ve waited to dust off that … Read More

can i deduct student loan interest

Is my student loan interest deductible?

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Question: ” Is my student loan interest deductible?” Answer: Assuming you meet certain requirements, you may be able to claim all or part of the student loan interest that you’ve incurred during the year. Generally, a qualified education loan is a debt you incur to pay qualified higher education (undergraduate and graduate) expenses for yourself, your spouse, or a dependent at an eligible educational institution in a program that leads to a degree. The IRS … Read More

group life insurance converting to individual coverage

Can I take my life insurance policy with me when I leave my employer?

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Question: “Can I take my life insurance policy with me when I leave my employer?” Answer: Quite often you can transfer your group life insurance coverage to an individual policy with the same  insurance company when you leave your employer. You should check with your employer to see if your group life insurance contract offers a conversion privilege available to all employees who are insured under the employer’s group plan.  A conversion privilege will be … Read More

Starting a Business With a Full-Time Job: 9 Ways to Spend Your Time Wisely

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If you’ve considered starting your own business but want to begin on a part-time basis while maintaining security with your current full-time job, you’re not alone. Many entrepreneurs have found it beneficial to start out this way. For anyone starting a business, learning to manage your priorities and time is critical for both your financial and overall well being. I have found, in working with start up phase entrepreneurs, this is an area that gets … Read More

long term care insurance

Helping Parents Select Long Term Care Insurance

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Question: “My parents have told us they’re buying long term care policies. Can you explain how these policies work so we can help them review their options?” Answer: It’s great that you are able to assist them.  The first thing to know is that you need to educate yourself on this subject as there is no such thing as a standard long-term care insurance policy. Some policies are comprehensive (including most group LTC policies), … Read More

5 Steps to Take Control of Your Student Loans

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It is frightening to see the statistics. According to a recent report issued by the Consumer Financial Protection Bureau, the size of the U.S. student loan market is over $1 trillion and there are approximately 7 million borrowers that are in default with their payments. Student loans are unique in that they’re one of the few debts that can not be discharged with bankruptcy. The only reliable way to get out of your student loans … Read More

financial story round up

Weekly Round Up

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Here are my favorite stories, tweets and blog posts for the week. Enjoy and have a great weekend! How to Avoid Travel Scams this Summer from bargaineering.com Market Forecasting Isn’t Like the Weather  by @behaviorgap from NYTimes.com How Millenials Are Changing the Economy from MoneyNing.com Going Back to School is not Always the Answer from ThirtySixMonths.com Why Changing Your Behavior is More Important than Having a Budget from krantcents.com        

When simple financial questions need more than simple answers

The Devil is in the Details: When Simple Financial Questions Need More Than Simple Answers

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Last week I was interviewed for the article: What Do You Do After Maxing Out Your 401(k) and IRA?  that appeared in Yahoo Finance’s Financially Fit, Ask Farnoosh.  They had questions from two readers and I thank them for including my comments. To give you more of my thoughts on the two scenarios,  I wanted to share them here because I find it’s easy for most of us to want simple answers so we keep our … Read More

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