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1
Is “good enough” the secret to wealth?
2
What to Do if You’re a Victim of Tax Fraud
3
Pay Attention to Automated Retirement Savings Plans
4
Investors Greatly Undervalue Safeguarding Their Money
5
File your tax return on time, even if you can’t pay

Is “good enough” the secret to wealth?

Normally the Wall Street Journal starts touting tech innovations three months before they’re on the market, and then spends the next three months reviewing how they don’t work quite right. Got to keep that market churning, no? But two recent articles about trends have me amused and bemused, and I think they relate to how much dough you hold onto.

The first one was on how people are not replacing their electronic devices as fast as they used to. Basically, after the initial kinks are worked out (and that time span is getting shorter), electronic devices pretty much work. As …

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What to Do if You’re a Victim of Tax Fraud

Hopefully this will never happen to you but in the unfortunate event you become of victim of tax fraud there are some steps that you can take to help alleviate the concern that someone has stolen your identity to file a fraudulent tax return in order to receive the refund.

Generally, the first sign of fraud appears when you try to file our return electronically. Most e-file providers receive acknowledgements from the IRS that the return was successfully e-filed. If a return is rejected, a code will return with the rejection indicating what the issue is. For example, a sign …

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Pay Attention to Automated Retirement Savings Plans

Once we have decided what to contribute to a 401(k) or other automated savings plan, we just assume that money is being set aside and perhaps only check its growth once a year or so.

A Washington Post “@Work Advice” column outlines scenarios that demonstrate why our retirement accounts and investments merit more vigilance. As the title “When your company plays fast and loose with your retirement savings” indicates, your employer may not play fair with your retirement funds.

One reader wrote in to say that while it seemed that her company had set up her IRA on …

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Investors Greatly Undervalue Safeguarding Their Money

  I read with interest an article in Financial Planning Magazine entitled, “HD Vest Settles SEC ‘Supervisory Failures’ Charges“, which read in part:
HD Vest, a CPA-centric independent broker-dealer, agreed to pay $225,000 to settle SEC charges of supervisory failure, following the barring of a former independent representative who allegedly swindled his elderly clients of over $300,000. … During his time with HD Vest, Lewis J. Hunter convinced two elderly clients to invest $250,000 in a Canadian bank in 2010 and 2011, providing fabricated guaranteed investment certificates and using their money instead to pay for personal expenses, according
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File your tax return on time, even if you can’t pay

So you’re up against the deadline for filing your taxes, and when you run the final numbers you discover that you’re going to have to pay a boatload of tax. Panic-stricken, you look at your bank account and see single digits, and there’s nowhere near enough left over on payday to make the tax payment. What should you do? Go ahead and file your tax return on time, even if you can’t pay. If you have all of the information to file a correct tax return on time, you will avoid penalties for not filing. You’ll still have penalties for… Read More

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