Cona Financial Group » Blog

Non-Equity Alternatives to Rock-Bottom Yields

Heather — Tue, 08 May 2012 15:45:38 +0000

As interest rates have fallen to record lows and stayed there in recent years, the yield on your savings may be stuck in neutral. If you’ve focused on capital preservation and kept your assets in U.S. Treasuries, a money market account, or certificates of deposit, you may have minimized the chance of the financial equivalent [...]

Hidden Taxes: What Is Your True Cost?

Heather — Wed, 02 May 2012 17:27:45 +0000

We are pretty well aware of the taxes we must pay as U.S. citizens; income taxes, payroll taxes, sales taxes, property taxes, and gift and estate taxes, to name a few. We can easily see these taxes on our pay stubs, tax bills, and sales receipts. But there are other taxes imposed on us that [...]

Why Women Need Social Security

Heather — Mon, 30 Apr 2012 17:00:14 +0000

Did you know that the first person ever to receive ongoing Social Security benefits was a woman? Ever since Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important benefits too, including disability and survivor’s benefits, that [...]

Pay Off Debt or Save and Invest?

Heather — Mon, 23 Apr 2012 16:02:18 +0000

There are certainly a variety of strategies for paying off debt, many of which can reduce how long it will take to pay off the debt and the total interest paid. But should you pay off the debt? Or should you save and invest? To find out, compare what rate of return you can earn [...]

Designing an Investment Portfolio

Heather — Mon, 16 Apr 2012 17:05:39 +0000

What is meant by “designing an investment portfolio”? Designing an investment portfolio is the process of determining which investment vehicles will help you pursue your personal goals. First, you’ll want to identify the personal investment goals that you would like to fulfill. These goals will be closely tied to a number of factors, such as [...]

Investing for Major Financial Goals

Heather — Fri, 13 Apr 2012 16:31:34 +0000

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don’t take any money out until you’re ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn’t it? But that’s what investing without setting clear-cut goals is like. If [...]

Understanding Investment Terms and Concepts

Heather — Tue, 10 Apr 2012 15:31:23 +0000

Below are summaries of some basic principles you should understand when evaluating an investment opportunity or making an investment decision. Rest assured, understanding investment terms and concepts is not rocket science. In fact, you’ll see that the most important principle on which to base your investment education is simply good common sense. You’ve decided to [...]

Dear IRS…

Richard Eddy — Wed, 04 Apr 2012 19:08:43 +0000

Basic tax planning is great, but beyond the basics there are a number of ways that you can reduce or even eliminate your tax burden. This is one of the things that we specialize in, especially when working with retirees, business owners, and our self-employed clients. The bottom line is that we help our clients develop and implement tax strategies that save them money.

Sticker Shock: Creative Ways to Lower the Cost of College

Richard Eddy — Thu, 29 Mar 2012 17:16:00 +0000

Even with all of your savvy college shopping and research about financial aid, college costs may still be prohibitive. At these prices, you expect you’ll need to make substantial financial sacrifices to send your child to college. Or maybe your child won’t be able to attend the college of his or her choice at all. [...]

Going Back to School as an Adult

Richard Eddy — Mon, 26 Mar 2012 18:27:26 +0000

You’ve decided that college or graduate school is your ticket to a better career or the path to advancement in your current job. Or maybe you just want to take a few classes to upgrade your skills. Either way, returning to school as an adult has its challenges. You’ve probably heard the expression “time is money.” [...]

Active vs. Passive Portfolio Management

Richard Eddy — Mon, 26 Mar 2012 15:54:52 +0000

One of the longest-standing debates in investing is over the relative merits of active portfolio management versus passive management. With an actively managed portfolio, a manager tries to beat the performance of a given benchmark index by using his or her judgment in selecting individual securities and deciding when to buy and sell them. A [...]

Supercommittee Failure Sets Stage for Election Year Debate

Richard Eddy — Thu, 22 Mar 2012 16:58:11 +0000

As part of a last-minute agreement ending August’s debt ceiling standoff, legislation was signed into law calling for the creation of a deficit reduction “supercommittee.” The Joint Select Committee on Deficit Reduction, comprised of 12 members (6 Democrats and 6 Republicans) from both the House and Senate, was charged with finding ways to reduce the [...]

Asset Protection Strategies Beyond Insurance

Richard Eddy — Fri, 16 Mar 2012 16:00:37 +0000

You’ve worked hard to accumulate your assets and property; that’s why it’s so important to take measures to protect your wealth. Often, the simplest way to protect assets is by shifting the risk to an insurance company. But insurance may not provide all the protection you need or it might not be available, so you [...]

Women and Estate Planning

Richard Eddy — Mon, 12 Mar 2012 16:31:16 +0000

They say men are from Mars and women are from Venus, but is this true when it comes to estate planning? Absolutely. And because women often find themselves in such different circumstances than men, it is even more crucial for them to educate themselves about estate planning, and consult an experienced estate planning professional. Women [...]

Four Money Mistakes You Might Be Making

Richard Eddy — Mon, 12 Mar 2012 16:08:37 +0000

Three years after the economic crisis led many Americans to re-evaluate their financial picture, economic uncertainty is still the norm. While there’s little you can do about the shaky economy, you can help stabilize your own finances over the long term by evaluating what you’re doing right … and wrong. There’s no guarantee, but avoiding [...]

Election Year Tax Talk: Deciphering the Terminology

Richard Eddy — Fri, 09 Mar 2012 17:39:47 +0000

This year’s election chatter is sure to include a healthy dose of tax talk. To keep up, here are five terms you should know. The “Bush tax cuts” A number of major tax changes were enacted in 2001 and 2003, including lower federal income tax rates, special maximum rates for long-term capital gains and qualifying [...]

Tax-Deferred Annuities: Are They Right for You?

Richard Eddy — Fri, 09 Mar 2012 17:22:37 +0000

Tax-deferred annuities can be a valuable tool, particularly for retirement savings. However, they are not appropriate for everyone. Five questions to consider Think about each of the following questions. If you can answer yes to all of them, an annuity may be a good choice for you. Are you making the maximum allowable pretax contribution [...]

How Student Loans Impact Your Credit

Richard Eddy — Mon, 05 Mar 2012 18:04:33 +0000

If you’ve finished college within the last few years, chances are you’re paying off your student loans. What happens with your student loans now that they’ve entered repayment status will have a significant impact–positive or negative–on your credit history and credit score. It’s payback time When you left school, you enjoyed a grace period of [...]

Understanding Social Security

Richard Eddy — Mon, 27 Feb 2012 19:12:14 +0000

Over 59 million people today receive some form of Social Security benefits, including approximately 38 million individuals age 65 or older. (Source: Fast Facts & Figures About Social Security, 2011) But Social Security is more than just a retirement program. Its scope has expanded to include other benefits as well, such as disability, family, and [...]

Financial Planning Issues for New Parents

Richard Eddy — Thu, 23 Feb 2012 18:07:47 +0000

As you prepare for life with your new child, it’s time to prepare a new financial plan for your family or make any necessary changes to your existing plan. You’ll want to consider how your baby will affect your budget, make sure you have adequate insurance, protect your child’s future with a well-thought-out estate plan, [...]

And Baby Makes Three

Richard Eddy — Tue, 21 Feb 2012 16:21:10 +0000

So you’re going to have or adopt a baby. Congratulations! Parenthood may be one of the most rewarding experiences you’ll ever have. As you prepare for life with your baby, here are a few things you should think about. Reassess your budget You’ll have to buy a lot of things before (or soon after) your [...]

Ask the Experts: Can I provide annuity payments to my heirs after I die?

Richard Eddy — Thu, 16 Feb 2012 17:59:32 +0000

You may be able to provide income payments to your heirs for the rest of their lives through the use of a stretch annuity. A stretch annuity (also known as a legacy annuity) makes lifetime payments to the beneficiary you name in your deferred annuity contract if you die before the annuity start date (e.g., [...]

Seniors Are Often Targets of Scams

Richard Eddy — Wed, 15 Feb 2012 18:55:57 +0000

Anyone can fall victim to a financial scam, but seniors tend to be particularly popular targets. Frequently, fraud perpetrated against seniors is not reported until long after the scam has occurred, usually because victims don’t realize they have been scammed or know where to report the scam, or because victims are too embarrassed to admit [...]

Tax Planning for the Self-Employed

Richard Eddy — Mon, 13 Feb 2012 17:20:24 +0000

Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you’re self-employed, you’ll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here are some planning tips. Understand [...]

Teaching Your Teen about Money

Richard Eddy — Thu, 09 Feb 2012 16:38:05 +0000

Your teen is becoming more independent, but still needs plenty of advice from you. With more money to spend and more opportunities to spend it, your teen can easily get into financial trouble. So before money burns a hole in your child’s pocket, teach him or her a few financial lessons. With your help, your [...]