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Who Is Your Trusted Contact?

This vital investment account question should be answered sooner rather than later. Provided by Kenneth Hagel Investment firms have a new client service requirement. They must now ask you if you want to provide the name and information of a trusted contact.1 You do not have to supply this information, but it is certainly welcomed.

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Should You Leave Your IRA to a Child?

What you should know about naming a minor as an IRA beneficiary. Provided by Kenneth Hagel Can a child inherit an IRA? The answer is yes, though they cannot legally own the IRA and its invested assets. Until the child turns 18 (or 21, in some states), the inherited IRA is a custodial account, managed

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Is It Time to Stop Procrastinating About Your Financial Plan?

Some things to think about as you get started with your strategy. Provided by Kenneth Hagel First, look at your expenses and your debt. Review your core living expenses (such as a mortgage payment, car payment, etc.). Can any core expenses be reduced? Investing aside, you position yourself to gain ground financially when income rises,

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Beware of Lifestyle Creep

Sometimes more money can mean more problems. Provided by Kenneth Hagel Lifestyle creep” is an unusual phrase describing an all-too-common problem: the more money people earn, the more money they tend to spend. Frequently, the newly affluent are the most susceptible. As people establish themselves as doctors and lawyers, executives, and successful entrepreneurs, they see

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The Major 2018 Federal Tax Changes

Comparing the old rules with the new. Provided by Kenneth Hagel The Tax Cuts and Jobs Act made dramatic changes to federal tax law. It is worth reviewing some of these changes as 2019 approaches and households and businesses refine their income tax strategies. Income tax brackets have changed. The old 10%, 15%, 25%, 28%,

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Bad Money Habits to Break In 2018

Behaviors worth changing for the New Year. Provided by Kenneth Hagel Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, the New Year is as good an occasion as any to alter your behavior. #1: Lending

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What Do You Have in Reserve for 2018?

Build your emergency fund this year. Kenneth Hagel How much does the average American household have in the bank? Estimates vary, but the short answer to this question is “not enough.” Last year, a GoBankingRates poll discovered that 57% of U.S. households had less than $1,000 in deposit accounts (although, 25% reported having at least

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What will change financially for retirees and pre-retirees in 2018?

https://www.marketwatch.com/story/5-ways-life-could-change-for-retirees-in-2018-2018-01-09/

Avoiding the Money Pitfalls of Past Generations

Take these financial lessons to heart.  Provided by Kenneth Hagel  You have a chance to manage your money better than previous generations have. Some crucial financial steps may help you do just that. Live below your means and refrain from living on margin. How much do you save per month? Generations ago, Americans routinely saved

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5 overlooked retirement challenges

Wise Bread shows you how to plan to meet 5 overlooked retirement challenges: https://tinyurl.com/y8dha4d6