Author - Scott M. Spann, CFP®, EA

1
Why is the Term Fee-Only So Important?
2
What Should You Do If You Owe Taxes?
3
Three Important Financial Planning Questions
4
Creating an Investment Policy Statement
5
Follow the “SMART” Process to Reach Your Goals

Why is the Term Fee-Only So Important?

The term “Fee Only” refers to the way financial planners are compensated for the advice they provide. This term is growing inWhy is the Term Fee-Only So Important?popularity, but many individuals in the financial services industry use this term inappropriately. In addition, if you ask the average person what it means to work with a Fee-Only financial planner they may not fully understand the critical importance of the term.

The National Association of Personal Financial Advisors (NAPFA) defines a Fee-Only planner as “one who, in all circumstances, is compensated solely by the client, with neither the advisor nor any related party receiving compensation that is …

Read More

What Should You Do If You Owe Taxes?

Tax season has arrived and many Americans are still struggling financially. The recent economic crisis is still having a dire impact on the ability for families to manage their day to day finances. It is no surprise that an increasing number of people are having trouble meeting their income tax obligations. So what can you do if you find yourself unable to pay your income taxes?

Do not panic or procrastinate. IRS tax notices and balances due on recently filed tax returns can bring out a lot of negative emotions. Once you recognize that you owe taxes to the IRS …

Read More

Three Important Financial Planning Questions

Financial life planning helps people do more than just focus on typical financial goals such as deciding when to retire, where they plan on living, and how much the expected lifestyle will cost. The life planning process allows us to examine our values and life visions. Rather than simply focus on money and wealth it helps participants decide what is really important in their lives. Life goals, vision, and values must be identified and addressed during the creation of a meaningful financial plan.

In order to use the life planning process to discover the deeper values in their lives, three …

Read More

Creating an Investment Policy Statement

Do you have a written plan in place to guide your investment decisions?  If not, how do you know if your investment plan is on track to meet your financial life planning goals?

An excellent way to make sure that you follow an investment plan and have a measurement stick in place to track your progress is the setup an investment policy statement.  A solid investment plan requires proper direction and guidelines that will help any investor stay on track regardless of the situation.  Plans will frequently change or be altered over time, but if you have a plan in …

Read More

Follow the “SMART” Process to Reach Your Goals

Whether you are working with a professional or creating your own financial plan, a comprehensive list of goals and objectives is an important starting point in the establishment of a tax and financial plan. Many people make the mistake of jumping into certain aspects of the financial planning process without a clear sense of direction. Even if you are not working with a planner you should start the planning process with specific goals and objectives.

First, start by making a comprehensive list of the things you would like money to help you accomplish in life. Then rank these goals and …

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login