Author - Claire Emory, MBA, CFA, CFP®

1
IRAs and other Retirement Plans for Independent Contractors
2
Think Before Changing Investments Because of An Election
3
Worried Millennials Need to Do Some Financial Planning
4
Estate Planning Can Prevent Elder Abuse
5
Advice for Those Nearing Retirement and Frustrated at Work

IRAs and other Retirement Plans for Independent Contractors

In “Retirement Plan Options for Independent Contractors,” published by NerdWallet this past fall, financial planner Dave Rowan outlines some of financial tools independent contractors can use to save for a time when they no longer work.

SIMPLE IRA: The Simple IRA or Savings Incentive Match Plan for Employees lives up to its name when you are doing contract work as a solo operator; it is less simple for those who have hired employees. These plans have employer-matching contribution rules that but don’t let that scare you if you think the SIMPLE IRA will work for your enterprise.

As an …

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Think Before Changing Investments Because of An Election

Fee-Only financial advisors have long counseled patience with investments and stock portfolios and presidential elections do not change that advice. As an election season progresses, you hear lots of experts give their thoughts on how a certain candidate may affect the stock market…and this past election season was no exception. Now that the election has taken place, there will be many people in the coming days sharing their recommendations on how to adjust your investments in response to the election.

However, history has shown that people who make sudden moves base on politics or other factors may find themselves disappointed. …

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Worried Millennials Need to Do Some Financial Planning

Perhaps you have heard a lot about how Millennials (sometimes defined as those born between 1980 and the late 1990s and sometimes this definition extends into the 2000s) have a carefree attitude towards life and that they clash with older members of the workforce. Or on a more positive note, you may have heard that Millennials are altruistic, like to work in teams, and have a great interest in volunteering. Whatever you may have heard, this age group is not immune to money woes and financial planning concerns.

Allianz Life Insurance Company surveyed more than 3000 adults and found Millennials …

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Estate Planning Can Prevent Elder Abuse

In “Estate Planning: Unpleasant surprises and the neglected, “ Lake County News outlines some of the ways that dishonest people can take advantage of the elderly, including:

  • Gaining an elderly person’s trust and taking over  that person’s finances
  • Convincing an elderly person to make the fraudster a death beneficiary
  • Marrying the elderly person in order to have a legal covering as they steal

In 2015, Healthline reported on marrying seniors for their money as a growing kind of elder abuse, noting that this kind of fraud was committed against both men and women. These so-called “Sweetheart Scams” …

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Advice for Those Nearing Retirement and Frustrated at Work

CBS News offers a possible retirement planning solution for people who are nearing retirement and frustrated with their current job but also aware that they are not able to stop working altogether. This advice may be something to consider but cannot replace personalized advice from an expert like a Fee-Only financial planner who can examine your entire financial portfolio.

So what does CBS News advise?

“Find a new work situation that addresses your specific work problems, pays you enough to cover your ongoing living expenses and allows your current savings and Social Security benefits to continue growing.”

Perhaps that is …

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