July 2, 2010
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Hi Everyone
I am sending the newsletter out early this month since I am getting married next week and will be busy doing all the last minute details.
Included are two articles on Social Security and effects of working after retirement. I have found that many people reach age 62 and file for benefits without realizing the effects of earned income after retirement. Some simple financial planning and research would prevent missteps at this important stage of a person’s financial life.
Enjoy the summer (and pray for nice weather next weekend).
Peter Owen
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Will You See Higher Tax Rates in 2011?
The Economic Growth and Tax Relief Reconciliation Act of 2001, followed two years later by the Jobs and Growth Tax Relief Reconciliation Act of 2003, reduced the top marginal tax rate to 35% and the top capital gains rate to
15%. But this tax relief was designed to be temporary. And now, in 2010, we’re only months away from seeing those provisions expire. |
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Social Security: File-and-Suspend for Higher Benefits
If you’re married and looking for opportunities to increase retirement income, you may want to look closely at your Social Security benefits. One opportunity for maximizing Social Security income, called “file-and-suspend,” may enable a married couple to boost both their retirement and survivor’s benefits. |
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Returning to Work After You’ve Retired
No matter how much you’ve looked forward to retirement, you might find yourself missing the social interaction and financial benefits you enjoyed when you were employed. Whether working during retirement is a choice–or a necessity–make sure you understand the financial implications. |
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My child got a scholarship for college. Is it taxable?
If a scholarship is used to pay for college tuition, fees, books, or required equipment, it’s not taxable. But if the scholarship is used to cover room and board, travel costs, or optional equipment, or if it’s awarded as payment for teaching, research, or some other required service, then it is taxable. |
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How will a college scholarship affect my child’s 529 plan?
If your son or daughter gets a college scholarship, federal rules governing 529 plans allow you to withdraw from the account an amount equal to your child’s scholarship. You won’t owe the 10% penalty that typically applies to the earnings portion of any withdrawal not used to pay the beneficiary’s qualified education expenses. However, you’ll still owe income tax on the earnings portion of the withdrawal. |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
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Trendline Financial Solutions is a Financial Planner Firm offering Financial Planning and Investment Management with offices in Southold, Great Neck and West Hempstead, NY – convenient to Garden City and Rockville Centre.
Servicing all Nassau County villages:
Serving All of Suffolk County
Argyle Lake: A main attraction in the town of Babylon.
- Babylon (town), Babylon (village), Baiting Hollow, Bay Shore, Bayport, Baywood, Belle Terre, Bellport, Blue Point, Bohemia, Brentwood, Bridgehampton, Brightwaters, Brookhaven (town), Brookhaven (hamlet)
- Calverton, Center Moriches, Centereach, Centerport, Central Islip, Cherry Grove (a.k.a. Fire Island), Cold Spring Harbor, Commack, Copiague, Copiague Harbor, Coram, Cutchogue
- Deer Park, Dering Harbor, Dix Hills
- East Farmingdale, East Hampton (town), East Hampton (village), East Islip, East Marion, East Moriches, East Northport, East Patchogue, East Quogue, East Setauket, East Shoreham, Eastport, Eatons Neck, Elwood
- Farmingville, Fire Island (a.k.a. Cherry Grove), Fire Island Pines, Fishers Island, Flanders, Fort Salonga
- Gilgo-Oak Beach-Captree, Gordon Heights, Great River, Greenlawn, Greenport, Greenport West
- Halesite, Hampton Bays, Hauppauge, Head of the Harbor, Holbrook, Holtsville, Huntington (town), Huntington (hamlet), Huntington Bay, Huntington Station
- Islandia, Islip (town), Islip (hamlet), Islip Terrace
- Jamesport
- Kings Park
- Lake Grove, Lake Ronkonkoma, Laurel, Lindenhurst, Lloyd Harbor
- Manorville, Mastic, Mastic Beach, Mattituck, Medford, Melville, Middle Island, Miller Place, Montauk, Moriches, Mount Sinai
- Napeague, Nesconset, New Suffolk, Nissequogue, North Amityville, North Babylon, North Bay Shore, North Bellport, North Great River, North Haven, North Lindenhurst, North Patchogue, North Sea, Northampton, Northport, Northville, Northwest Harbor, Noyack (Noyac)
- Oakdale, Ocean Beach, Old Field, Orient
- Patchogue, Peconic, Poquott, Port Jefferson, Port Jefferson Station
- Quioque (Quiogue), Quogue
- Remsenburg, Ridge, Riverhead (town), Riverhead (hamlet), Riverside, Rocky Point, Ronkonkoma
- Sag Harbor, Sagaponack, Saltaire, Sayville, Selden, Setauket, Shelter Island, Shelter Island Heights, Shinnecock Hills, Shirley, Shoreham, Smithtown (town), Smithtown (hamlet), Southampton (town), Southampton (village), Southampton (hamlet), Southold (town), Southold (hamlet), Sound Beach, South Huntington, Speonk, Springs, St. James, Stony Brook
- Terryville, Tuckahoe
- Village of the Branch
- Wading River, Wainscott, Water Mill (Watermill), West Babylon, West Bay Shore, West Gilgo Beach, West Hampton Dunes (Westhampton Dunes), West Hills, West Islip, West Sayville, Westhampton, Westhampton Beach, Wheatley Heights, Wyandanch, North Wyandanch
- Yaphank
May 7, 2010
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Hi Everyone
The economy appears to be getting better, but peoples’ financial situations are not. The recurring theme of people I talk to centers on the amount of debt they have, their fear of going broke, and they want help in solving these problems while maintaining their current life style. Solving financial problems takes thought and planning, and a realistic assessment of the current situation and spending patterns. If you find yourself constantly thinking about your financial situation, it is time to review your own spending/saving patterns so that you know where your situation is going and you can enjoy the summer. Not knowing or ignoring the situation only serves to increase the amount of stomach pain you experience.
Peter Owen
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Evaluating Risk in Your Portfolio
As we were all reminded in 2008, returns aren’t the only factor you should consider when determining whether your portfolio is allocated appropriately. Also important is the level of risk you take in pursuing those returns. |
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How Much Life Insurance Is Enough?
Your life insurance needs often depend on a number of factors, including whether you’re married, the size of your family, the nature of your financial obligations, your career stage, and your goals. |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
Trendline Financial Solutions is a Financial Planner Firm offering Financial Planning and Investment Management with offices in Southold, Great Neck and West Hempstead, NY, convenient to Garden City, Rockville Centre, Floral Park, Manhassett, Roslyn |
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Servicing all Nassau County villages:
April 13, 2010
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| Trendline Financial Monthly
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Hi Everyone and happy Spring
So far this year I have been receiving a lot of inquiries about the My Financial Planner 24/7 Program. I developed this program based on the theory that most people do not need full Financial Planning services but rather having someone to turn to with financial questions involving everyday issues. That theory appears to be correct with clients asking questions about their bank’s procedures, should they buy a certain mutual fund, how to invest their “cash” safely, how to create a realistic budget, etc. Due to this interest, I am reprinting the description of My Financial Planner 24/7 Program in the article below for those who have not seen it.
As always, please feel free to call if you need help in any financial matter.
Peter Owen
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My Financial Planner 24/7 Program
My Financial Planner 24/7 Program is designed to a low cost way of answering your financial questions. This may be recent divorcees who need to develop a budget, invest their assets or simply how to deal with their financial institutions. Or, it could be your parents are now coming to live with you, welcoming a new baby, pondering retirement, or any major life change. |
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Back to Basics: Reviewing Your Budget
Do you ever wonder where your money goes each month? Does it seem like you’ve gotten sidetracked when it comes to reaching your financial goals? If so, you may want to review and perhaps revise your budget. Doing so can help you determine how you’re spending your money, and that might show you what you need to do to get back on track. |
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Got Stock? The Long and Short of Capital Gains
If you buy or sell shares of stock, you need to be familiar with the rules that govern the way capital gains are taxed. That’s because the amount you owe in tax can depend on a number of factors, including the length of time you hold the shares and the federal income tax bracket you’re in. Here are the basics. |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
Trendline Financial Solutions is a Financial Planner Firm offering Financial Planning and Investment Management with offices in Southold, Great Neck and West Hempstead, NY, convenient to Garden City, Rockville Centre, Floral Park, Manhassett, Roslyn |
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Prepared by Forefield Inc. Copyright 2010.
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March 8, 2010
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Hi Everyone
By now you should have filed that tax return and are thinking what to do with the refund. Answer – PAY DOWN DEBT. Check the current interest rates you are paying on those credit cards – they are staggering, 16% – 24%.
Interest rates are going to rise, just a question of when. The Federal Reserve has been giving advance notice that it will happen, though maybe not until later this year. Most disturbing are reports I read showing people are piling their money into Bond Funds, presumably for safety. Remember, bond funds get hurt during periods of rising interest rates. Time to again review your asset allocation. We are here to assist if want help in your review.
Peter Owen
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529 College Savings Plans vs. Roth IRAs
After the 2008/2009 market collapse, some parents have opted to trade the tax benefits of 529 plans for savings vehicles that don’t have a “must-be-used-for-college” restriction. Just how does a favorite of the college savings world, a 529 college savings plan, stack up to a favorite of the retirement savings world, a Roth IRA, as an education-funding vehicle? |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
Trendline Financial Solutions is a Financial Planner Firm offering Financial Planning and Investment Management with offices in Southold, Great Neck and West Hempstead, NY, convenient to Garden City, Rockville Centre, Floral Park, Manhassett, Roslyn |
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February 6, 2010
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Hi Everyone
I am already getting sick of Winter and the Ground Hog projection did not bode well last week. On the positive side, did you notice how much later sundown is each day?
The Markets are quite interesting right now. Good economic reports vs. high unemployment and exacerbating this is Washington’s spending, controlling and blaming. This is the time for maintaining discipline in your investments and trying to keep emotions out of the process.
It is Tax time, so read up on all the 2009 tax changes and look for those deductions.
This month I will be starting to teach Adult Education financial courses at various school districts on Long Island. Hope to see you there. Let me know if you want my teaching schedule.
Peter Owen
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Four Money Mistakes You Can Learn From
It’s hard to know when the economy will truly recover, although there are signs that things are headed in the right direction. But if you want your own finances to stabilize over the long term, you’ll need to evaluate what you’ve been doing right … and wrong. |
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College Debt: How Much Is Too Much?
According to a recent survey, the confidence of parents in their ability to save for college dropped significantly over the past year. That’s not entirely surprising, considering the economic climate. The trend of not saving enough makes families heavily dependent on borrowing to fund college. |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
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January 13, 2010
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| Trendline Financial Monthly |
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Hi Everyone
I hope you had a pleasant holiday season and are looking forward to 2010 with optimism and personal resolve to achieve your goals.
Hopefully, you have you taken some time to review your investment allocations for the coming months, and especially resisted the temptation to keep all your investable assets in money market accounts or bond funds. While this is a natural temptation given the markets in 2008 and half of 2009, it is not the right course of action for the long term investor.
Also, take note of the 2010 opportunity to convert Traditional IRAs to Roth IRAs – see “Retirement Issues to watch in 2010″ article. While each situation is different, this year is the time to consider the move given the elimination in Income Limits.
As always, give us a call if you need help with any financial issue. Also consider signing up for our My Financial Planner program.
Peter Owen
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ARMed and Dangerous?
Remember how adjustable rate mortgages (ARMs) were all the rage when the housing market was a boom town? Well, now that the housing market looks more like a ghost town, are ARMs still a good idea, or is being ARMed a dangerous place to be? |
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December 13, 2009
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| Trendline Financial Monthly |
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| Hi Everyone,We wish you a very happy and safe holdiay season to you and your loved ones.
Financially speaking, December (not April) is the time to review your 2009 tax situation and your investment portfolios for possible adjustments. Take a moment to concentrate on this NOW while you have time to act. Remember, December is your yearly Final Exam, April 15th is your Report Card.
We are pleased to see that our My Financial Planner 24/7 Program is generating a lot of interest (see November Newsletter). If you need information on this program, drop us an email or visit our website at www.TrendlineFinancialSolutions.com – article is filed under Article Categories, Trendline Company News.
Peter Owen |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions. Advice may only be given after client has received a copy of the Firm’s Form ADV on file with the New York State Dep’t of the Attorney General, appropriate Firm disclosures as required by Law, and entered into a Financial Planning agreement with the Firm.
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Trendline Financial Solutions is a Financial Planner Firm offering Financial Planning and Investment Management with offices in Southold, Great Neck and West Hempstead, NY, convenient to Garden City, Rockville Centre
November 24, 2009
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| Trendline Financial Monthly •
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| Hi Everyone,
As we come into Holiday season, this is the time to give some thought to any financial items
that need addressing before year end. This could be rebalancing your portfolio, making the
benefit elections thru your company, considering what actions I can take to get additional tax
deductions.Also consider signing up for our My Financial Planner 24/7 program which
is an easy and cheap way to always have finnancial advice close by whenever you need it.
Peter Owen |
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My Financial Planner 24 -7 Program
Do you consider yourself: An average family, have some kids or plan to AND may have a house or hope to AND get the bills paid but nothing left to go to savings And credit cards piling up AND I get most of my financial advice by asking family members, friends or coworkers AND ESPECIALLY, I honestly have nowhere to turn when I have a financial issue or question |
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What to Do When Layoffs Loom
Getting laid off sometimes seems to be inevitable, but short of going out of business, employers usually keep employees who are most valuable and productive. Here are some things you can do to increase your value to your employer and enhance your prospects of avoiding that next round of layoffs. |
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Health Insurance Options After a Job Loss
It’s hard enough facing the financial and emotional trauma of losing your job. One of the issues you may confront is the loss of your employer-provided health insurance as well. While there may not be a simple solution to your health insurance dilemma, you should understand your options. |
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The information in any newsletter or within the website should not be construed, in any manner whatsoever, as the receipt of or a substitue for personalized individual advice from Trendline Financial Solutions.
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