Franklin Planning Blog
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Preparing for the future is one of the most important aspects of financial strategizing, and a lack of involvement often leaves women, in particular, potentially exposed to financial hardships later in life. Don’t expect a spouse, partner, or other family member to help ensure financial security. Women investors face several challenges to helping build…
Read MoreFinancial envy is even more of a thing now than it was back in 1913 when cartoonist Arthur R. “Pop” Momand debuted the comic strip “Keeping Up with the Joneses,” which centered on the misadventures of Aloysius P. McGinnis and his family, who were always trying to keep up with their never-seen neighbors, the Joneses. [i]…
Read MoreAre the young people in your life financially literate? By helping them learn about money, you give them an important head start on important life skills like developing good savings behavior, living within their means, and avoiding many common financial pitfalls. Unfortunately, many young Americans are not learning the right financial lessons. Research shows that…
Read MoreNo matter where you are in your life, saving for retirement is likely one of your most important financial goals. But, even if you have professional guidance and a clear strategy for your desired future, you could still be missing some straightforward ways to maximize your savings.
Read MorePreparing your estate in advance is one of the greatest gifts you can give your family. Many estates include real estate in the form of a primary home, vacation home, and other family properties. While inheriting a property can be a wonderful legacy,
Read MoreDo You Understand Your Emotions About Money? If you’ve ever felt a rush of excitement at making a big purchase or experienced feelings of shame at making a financial mistake, you know that our relationship with money isn’t completely rational.
Read MoreDo you have unclaimed money in the TSP? In the past five years, unclaimed funds in accounts have built up to a sum of more than 88 million dollars. This money is just sitting there, untouched and unused, waiting for someone to claim it. In previous years, the TSP provided lists of these unclaimed accounts…
Read MoreWhile supporters of President Obama’s 2016 Fiscal Budget say the budget will make it easier to save for retirement, the proposal is giving mixed messages when it comes to retirement planning. I have identified eight budget provisions that would have a negative impact to many retirement accounts. 1. Limit Roth Conversions to Pre-Tax Dollars –…
Read MoreLong-time federal workers have a unique opportunity for tax-free retirement income…but immediate action is vital. Under President Obama’s proposed budget, aftertax rollovers to Roth IRAs will end next year. Throughout 2015, Civil Service Retirement System (CSRS) and CSRS Offset employees can still lock in the benefits. THE REWARDS OF ROTH IRAs Savvy investors understand the advantages of…
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