Gone are the days of seemingly endless college applications, lengthy essays, and anxious weeks waiting for an acceptance. Your young adult has made a decision and he or she is college bound. It’s a very exciting time – a transitional process described beautifully by actress Tina Fey in Admission: “Parents exist to drive their kids insane.”
While Americans have always been a mobile people, retirees aren’t moving to new places as frequently as they have in the past. According to census data, between 2010 and 2011, just 3% of those age 65 and older relocated. A lot of 401(k)s have taken a hit, the housing market fell, and many of those who planned to retire are delaying that move. This has resulted in the lowest level of migration for those 65 and older since the end of World War II.
We recently received a question at our website from a troubled consumer of financial advice who wondered how he might compare Pinnacle’s wealth management process to that used by his current advisor. That’s an excellent question. After all, there is no Consumer Reports for financial advisors where firms are evaluated by objective and independent experts. The best we can do is recommend a process of evaluation that will give an educated consumer confidence in choosing the right financial advisor.
You probably remember the 1960s sitcom Green Acres, and its catchy theme song:
Green Acres is the place for me,
Farm living is the life for me.
Land spreading out so far and wide,
Keep Manhattan just give me that countryside.
As my clients, friends, and colleagues know, I love to travel. While my vacations have not (unfortunately) been tax-deductible, they have been memorable experiences that will stay with me forever. For that reason, I often encourage my clients to take vacations; after all, we don’t know when our health will change and we’ll no longer even be able to travel. You don’t want to be one of those people who will someday look back with regret on the things you didn’t do.
Generation Y includes those born between 1977 and 1991, ranging in age from 22 to 36 years old. Also referred to as echo boomers and millennials, the group makes up about 25% of the U.S. population.
As a member of the Silent Generation (born between 1922 and 1943), you have paid your dues. You probably raised a family and have left the workforce – you deserve an enjoyable retirement. That can be achieved, but the pace and complexity of today’s world means you’ll need to give yourself a periodic financial checkup.
It’s that time of year when everyone gets excited for their hoped-for tax refund. But should we really be celebrating?
Are you paying too much in taxes? Are you sure you have claimed every possible deduction? It is possible to do your taxes yourself — especially if you have a very simple tax situation — and there are tools available out there to help you. However, in this era of increasing specialization, there are some very good reasons to hand this responsibility off to a professional:
Jean and Carl are your everyday couple. They are looking forward to retirement in a few years and don’t have a very complex tax picture. Like many of us, they procrastinated on preparing their taxes but know they have to get them filed so they can get their refund. They have a cruise planned for the beginning of May and their tax refund will pay the balance owed for the trip, and give them spending money for souvenirs.