Blog | Brinton Eaton

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Feb

Economic Improvements Spur a Change in Consumer Behavior

By Ellen Clawans

Consider these common-sense budgeting and investment tips

During the height of the recession, we saw many people putting up to a year’s worth of living expenses in their cash savings accounts. In speaking with clients during this time, we found that people were comfortable with this level of security as it was taking longer to find jobs and the market was especially volatile. But lately, we’ve seen consumers putting their cash back to work and keeping lower levels of cash on hand. This is most likely due to several factors, including general fears of another 2008 subsiding; small, positive signs in the U.S. economy; and as always, the need to stay ahead of inflation.

Of course, this more optimistic attitude about the state of the markets and the economy varies from person to person. Nevertheless, as fears of prolonged recession generally seem to be receding, it’s not a bad idea to revisit some budgeting and investment basics:

“Pay Yourself First” – Read More→

Categories : Financial Planning, Tax Strategies

Feb

All About Health Savings Accounts

By Mary Ellen Hancock

This past summer, one of my colleagues, Ellen Clawans, blogged about the various medical savings accounts that are available through many employers. This week, I am going to discuss one type in particular in greater detail – Health Savings Accounts (HSAs).

You may have been given the opportunity to establish and contribute to an HSA each year when you enroll for your medical, dental, and other employer benefit programs. HSA plans are only available to individuals covered by high-deductible health insurance plans. Although HSA plans are required to have a $1,200 individual deductible ($2,400 for families) and can increase from these required minimums, many HSA plans offer 100% coverage and often don’t require co-insurance payments. So, if you fall within this category and have out-of-pocket medical expenses greater than your deductible, your costs will actually be less than if you had a more conventional 80/20 co-share plan. Unlike Flexible Spending Accounts, HSAs are not a “use-it-or-lose-it” plan. You don’t have to use the money by a certain deadline. Read More→

Categories : Financial Planning

Jan

How Much Should You Withdraw From Your Savings During Retirement?

By Abigail M. Rosen

An article recently appearing in SmartMoney questioned the viability of the 4% rule which advocates withdrawing 4 % from your savings each year in retirement. That has long been the suggested percentage, as introduced by noted financial planner Bill Bengen, CFP® almost 20 years ago. More recent recommendations range anywhere from 7% (Retirement Management Journal) to 1.8% (Journal of Financial Planning) — quite a big difference. While 4% of savings may be a good point to start from, the reality is Read More→

Categories : Financial Planning, Investment Management, News

Jan

Your Credit Report: Why it’s Important (And How to Get it for Free)

By Janet L. Critchley

A good credit report could be the key to getting the personal loan or mortgage you want, as well as securing the loan at a favorable interest rate. A typical credit report contains a great deal of personal financial information—information that is
used by potential creditors, employers, insurers, and others to assess your creditworthiness.

Here’s how it works: Read More→

Categories : Financial Planning

Jan

Choosing the Right Financial Advisor: Some Important Considerations

By Jerry A. Miccolis

Selecting someone to be a trusted steward of your finances takes forethought and careful consideration. The first step in choosing a financial advisor is to determine exactly what you require. Are you looking for someone to help you create a comprehensive financial plan? Perhaps you need investment advice and/or portfolio management. At this point in your life, you may be giving some serious thought to leaving a legacy to your loved ones or favorite charitable organizations. Or maybe you are concerned that you don’t have enough for the rest of your retirement. Perhaps you have a financial advisor in place and are seeking additional viewpoints about one or all of these areas.

Whatever your reasons, it’s important to “interview” several different advisors in order to select the one that’s right for you, preferably face-to-face, rather than over the phone. If it makes you feel more comfortable, bring a good friend or relative with you who can help you screen the candidates. Often, it will come down to personal chemistry and gut instinct. But there are certain characteristics that you should look for before making your decision. For example, it’s important at the outset of your search to understand how a particular advisor makes their money. This way, you can determine objectivity and motivation in suggesting a particular course of action or investment. Financial advisors generally fall into the
following categories: Read More→

Categories : Financial Planning, Investment Management

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