FSSPlanning » Financial Services http://www.fssplanning.com Wed, 02 May 2012 19:04:05 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Do I need Life Insurance in my Estate? http://www.fssplanning.com/do-i-need-life-insurance-in-my-estate/572/ http://www.fssplanning.com/do-i-need-life-insurance-in-my-estate/572/#comments Wed, 02 May 2012 19:04:04 +0000 admin http://www.fssplanning.com/?p=572 Megan Bynum

Today, life insurance is a crucial part of many estate plans.  Life Insurance can provide much-needed income to your survivors, help fund your children’s education, and pay off your mortgage and other debts.  Proceeds from life insurance will help you to ensure that your family has access to funds to meet both short and long term needs that may arise.  By purchasing life insurance, you’ll be taking the initiative and planning ahead; knowing that you’ll be leaving an established amount for your survivors.  Should you buy term or permanent life insurance? How much life insurance do you need?  We can help you answer those questions.  Contact our office today at 615-216-1340, and let us show you how purchasing life insurance could be beneficial to you and your family.

Written by: Megan B. Bynum, Licensed Life & Health Insurance Agent

]]> http://www.fssplanning.com/do-i-need-life-insurance-in-my-estate/572/feed/ 0 Why is diversity in my portfolio so important? http://www.fssplanning.com/why-is-diversity-in-my-portfolio-so-important/550/ http://www.fssplanning.com/why-is-diversity-in-my-portfolio-so-important/550/#comments Wed, 18 Apr 2012 14:17:01 +0000 admin http://www.fssplanning.com/?p=550 If you’ve ever looked at an asset class chart you will see that every year the winners and losers vary year to year.  The dilemma is that we don’t know exactly which asset class will be the number one performer any year.  In 2011 the Barclays Capital U.S. Bond Aggregate Bond Index was up 7.84%; while the MSCI Emerging Markets Index was down 18.17%.  It is important to invest in asset classes that have a low correlation to the stock market as well.  Keep in mind that diversity will not make you bullet proof to market declines, but it can help make the roller coaster ride much smoother.  Call me today to make sure you are well diversified.

*All performance referenced is historical and is no guarantee of future results.  All indices are unmanaged and may not be invested into directly.

*There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio.  Diversification does not protect against market risk.

Authored by: Scott Flowers, LPL Wealth Advisor

]]> http://www.fssplanning.com/why-is-diversity-in-my-portfolio-so-important/550/feed/ 0 Including maxing out my 401k and IRA, where else can I put pre-tax money? http://www.fssplanning.com/including-maxing-out-my-401k-and-ira-where-else-can-i-put-pre-tax-money/536/ http://www.fssplanning.com/including-maxing-out-my-401k-and-ira-where-else-can-i-put-pre-tax-money/536/#comments Wed, 07 Mar 2012 20:19:46 +0000 admin http://www.fssplanning.com/?p=536 Assuming you have a qualifying health insurance plan, a health savings account (HSA) can be a great way to invest pre-tax money.  The 2012 contribution limits for an individual is $3,100 and $6,250 for a family.  If you are 55 or older then you are allowed to contribute an extra $1,000.  With regular contributions, HSA’s can be a great way to pay for doctor visits, prescriptions, etc.  Because HSA money will roll over to the next year, you don’t have to deplete the account.  Contact me today to see if an HSA is best for you and your family.   

Authored by: Scott Flowers, LPL Wealth Advisor

]]> http://www.fssplanning.com/including-maxing-out-my-401k-and-ira-where-else-can-i-put-pre-tax-money/536/feed/ 0 How should I approach Long Term Care with my family? http://www.fssplanning.com/how-should-i-approach-long-term-care-with-my-family/533/ http://www.fssplanning.com/how-should-i-approach-long-term-care-with-my-family/533/#comments Wed, 07 Mar 2012 20:16:30 +0000 admin http://www.fssplanning.com/?p=533 Let them know that Long Term Care (LTC) coverage is no longer viewed as “nursing home insurance”, but as asset protection; a major part of estate planning.  They worked all their life to accumulate their money.  The last thing they want is the government to take their assets, including their home, simply because they didn’t have LTC protection.  With multiple premium options, LTC coverage is more obtainable than ever before.  Remember that LTC protection covers multiple locations including:  assisted living facilities, rehab centers, home, etc.  LTC coverage is a selfless act that protects your family, and eases the burden on the remaining loved ones.  Contact me today to ask about Long Term Care coverage.

Written by: Scott Flowers, LPL Wealth Advisor

]]> http://www.fssplanning.com/how-should-i-approach-long-term-care-with-my-family/533/feed/ 0 How do I ensure that I don’t run out of money in retirement? http://www.fssplanning.com/how-do-i-ensure-that-i-dont-run-out-of-money-in-retirement/526/ http://www.fssplanning.com/how-do-i-ensure-that-i-dont-run-out-of-money-in-retirement/526/#comments Wed, 29 Feb 2012 16:28:58 +0000 admin http://www.fssplanning.com/?p=526

The simple answer is to not draw more out than you are earning on your portfolio.  However for most people, it is not so simple.  Market volatility, increased longevity, and inflation risk all have an impact on a portfolio’s ability to supply adequate retirement income.  Ideally, your withdrawal rate is below the average annual rate of return on the portfolio minus inflation.  If inflation is at 3% and your annual portfolio returns are 8%, then your withdrawal rate should be below 5% to ensure your portfolio keeps up.  The sequence of returns is extremely important: withdrawing too much early in retirement can have a lasting negative impact in your twilight years.

Authored by: Ben Leyhew, MBA, LPL Wealth Advisor

 

]]> http://www.fssplanning.com/how-do-i-ensure-that-i-dont-run-out-of-money-in-retirement/526/feed/ 0 How can I check if my financial professional is legitimate? http://www.fssplanning.com/how-can-i-check-if-my-financial-professional-is-legitimate/520/ http://www.fssplanning.com/how-can-i-check-if-my-financial-professional-is-legitimate/520/#comments Wed, 29 Feb 2012 16:12:07 +0000 admin http://www.fssplanning.com/?p=520

Go directly to www.finra.org (Financial Industry Regulatory Authority).  This is the independent regulator for all securities firms doing business in the United States.  Under the “Investor” link, you can perform a Broker Check to verify that your financial professional is fully licensed and see his or her employment history.  More importantly, you can check to see if they have any customer complaints, criminal charges, bankruptcies or ongoing litigation.  This is one important tool for evaluating your financial professional.

Written by: Ben Leyhew, MBA, LPL Wealth Advisor

]]> http://www.fssplanning.com/how-can-i-check-if-my-financial-professional-is-legitimate/520/feed/ 0 Should I consider investing in an annuity? http://www.fssplanning.com/should-i-consider-investing-in-an-annuity/514/ http://www.fssplanning.com/should-i-consider-investing-in-an-annuity/514/#comments Tue, 07 Feb 2012 22:33:47 +0000 admin http://www.fssplanning.com/?p=514  

Annuities are financial products that generally provide a regular stream of income. Some annuities pay a fixed amount of interest.  Others are attached to a “market index”, such as the S & P 500.  You want to make sure that you understand the costs associated with the annuity contract and any period your funds will be restricted (called a surrender period).  Be sure to review the investment options within the contract.  Also important is to consider the way you access the funds – how do I get my money out?  Can I get it out in a lump sum if I want to?  Or do I have to access the funds in a series of payments over a period of years.  Give us a call and let us help you determine if an annuity would benefit you.

Authored by: Jeffrey O. Brown, CPA, CFP and LPL Registered Principal

 

]]> http://www.fssplanning.com/should-i-consider-investing-in-an-annuity/514/feed/ 0 How much should I be saving for retirement? http://www.fssplanning.com/how-much-should-i-be-saving-for-retirement/509/ http://www.fssplanning.com/how-much-should-i-be-saving-for-retirement/509/#comments Wed, 01 Feb 2012 22:12:30 +0000 admin http://www.fssplanning.com/?p=509 Jeffrey O. Brown, CPA, CFPThe answer is easy – save as much as you can for retirement.  Most “experts” suggest that families save 10% to 15% of their income for retirement.  However, many families aren’t doing that.  Here are some practical suggestions.  You need to make sure you take advantage of all employer retirement plans that offer a matching contribution.  If a company retirement plan is unavailable to you, you could consider contributing to a Traditional IRA, Roth IRA, or SEP IRA.  In addition, if you own a business, there may be ways that you can save for retirement and gain some tax benefits.  Give us a call.  We can help you sort out the retirement options and help you choose the best alternative for you and your family.   

Written by: Jeffrey O. Brown, CPA, CFP and LPL Registered Principal

 

]]> http://www.fssplanning.com/how-much-should-i-be-saving-for-retirement/509/feed/ 0 When I invest what do I need to consider? http://www.fssplanning.com/when-i-invest-what-do-i-need-to-consider/497/ http://www.fssplanning.com/when-i-invest-what-do-i-need-to-consider/497/#comments Tue, 24 Jan 2012 17:18:08 +0000 admin http://www.fssplanning.com/?p=497 Generally, investing involves three major questions – first, what are my objectives (retirement, specific purchase, college funding, etc.)?  Next, how long will the funds be invested (for 2 years, 5 years, until retirement?)?   Finally, you need to assess your risk tolerance?  Am I very aggressive, very conservative, or somewhere in the middle?   The first two questions are easy to answer; assessing your risk tolerance can be a bit more challenging.  We have tools to help you assess your risk tolerance.  Give us a call and we can start the conversation about these questions and get your funds to work. 

Written by: Jeffrey O. Brown, CPA, CFP, LPL Registered Principal

]]> http://www.fssplanning.com/when-i-invest-what-do-i-need-to-consider/497/feed/ 0 What is the easiest Retirement plan to set up for a small business? http://www.fssplanning.com/what-is-the-easiest-retirement-plan-to-set-up-for-a-small-business/493/ http://www.fssplanning.com/what-is-the-easiest-retirement-plan-to-set-up-for-a-small-business/493/#comments Tue, 24 Jan 2012 17:13:13 +0000 admin http://www.fssplanning.com/?p=493 A SIMPLE IRA might be the best plan for your business.  They cost much less than 401k plans, and don’t have the same annual testing requirements that 401k’s do.  The employer is required to match dollar for dollar of the employee’s contribution up to 3%.  Or the employer can contribute 2% of the employee’s non-elective compensation up to $245,000 in 2011 ($250,000 in 2012).  Company retirement plans can substantially lower your tax liability, improve employee retention, and go a long way to ensure that you and your employees have a secure retirement.  Contact me today to discuss if a company retirement plan makes sense for your business.

Written by: Scott Flowers, LPL Wealth Advisor

]]> http://www.fssplanning.com/what-is-the-easiest-retirement-plan-to-set-up-for-a-small-business/493/feed/ 0