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  • Are forecasts related to the markets and economy useful? Or are they useless? You could even argue (persuasively) that predictions and forecasts are more a source of risk rather than a tool to help you avoid risk.
  • Taxes are on my mind this month as tax season is in full swing. Also you may have heard there is a Presidential election later this year. I probably follow tax policy discussions more closely than the average bear, but I suspect everyone will be hearing a lot about who does or does not pay []
  • Between two professional credentials that each need a lot of continuing education, plus family vacation time, you’ll find that Wendy works in weeks-long surges but is frequently out of the office in between. That’s okay, we’re planners, we’re good at this! Here’s how we put the Tea in Team: Wendy and Sam can both create [] The post Wendy’s Vacation Conference Schedule for 2024 appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • Automate the payment of your bills to save time and avoid potential late charges. Automate monthly contributions to savings and investments.
  • In the pursuit of financial security, mastering debt management is the cornerstone of success. While debt is often viewed with apprehension, understanding how to effectively manage it is the key to building a solid foundation for the future. As a financial advisor, I recognize that debt can either be a hindrance or a strategic tool []
  • In the journey toward financial success, one of the most essential tools is strategic tax planning and preparation. While many may view taxes as an unavoidable burden, savvy investors and practical financial advisors recognize it as an essential aspect of their strategy. Mastering the specifics of the tax code can yield significant benefits, enabling you []
  • Make an effort to enhance your investment knowledge in 2024. Take some time to read some articles and books and watch some webinars to improve your ability to manage your finances. Plan time in your schedule to work on your finances.
  • Thinking Ahead?

    "When you think about your finances, how far into the future do you tend to think and plan? Days? Weeks? Months? Years? Decades? Generations?" This is a question I often ask people during the prospective client process, as how someone answers is very helpful in understanding their financial approach. How far ahead do you think?
  • Financial planning is an essential tool for everyone, but its importance for women is particularly noteworthy. Historically, women have faced unique financial challenges, making strategic financial planning essential for empowerment and security. Bridging the Gender Wealth Gap Despite considerable advancements, a wealth gap based on gender exists. Factors such as wage disparities, career breaks for []
  • Financial planning isn’t just about managing your money; it’s about sculpting a roadmap that guides you toward your aspirations and secures your future. Whether youre setting aside a portion of your income for emergencies, planning for retirement, or aiming for specific financial milestones, the significance of financial planning resonates deeply in every aspect of our []
  • When it comes to securing your financial future, choosing the right financial planning firm is an important decision. Often, the debate revolves around larger, well-established firms versus smaller, boutique ones like Favored Financial Planning. While both have their merits, there are distinct advantages to opting for a smaller firm like Favored Financial Planning. Personalized Attention []
  • Partnering with a financial planner is an essential step toward securing your financial future. However, its equally important to ensure that you are aligned with the right professional who understands your goals and concerns. Asking the right questions can be the key to finding the perfect fit. Understanding Their Expertise Begin by delving into the []
  • We had such a lovely Open House! Sam Plotkin introduced himself with a presentation on his thoughts about the investment markets. Happily, Gary recorded it via Zoom so you can watch his very entertaining and informative 20 minute presentation here: The post Introducing Sam Plotkin, CFA, speaking on Financial Markets and the Business of Providing Financial Advice appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • Losing a loved one is an emotionally challenging experience, and for widows, it often comes with additional financial complexities. (Feed generated with FetchRSS )
  • I went to a presentation yesterday from a NY Life agent about Qualified Longevity Annuity Contracts (QLACs). Its a deferred annuity that moves up to $200,000 out of your IRA (where its subject to RMDs) into a cash stream in your old age.  Theyve been around since 2014, but for the past few years they [] The post Adding QLACs to our toolkit appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • Getting tax credits for an electric vehicle is really complicated. The requirements surrounding where the vehicle was assembled means that two identical brand-new cars sitting on the lot can qualify for EV credits of either $7,500, $0, or something in between!!  How to figure out if your car qualifies? Until now we’ve had to [] The post EV Credits getting easier in 24, but 23 is still a mess! appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • Wondering what you might be able to do to improve your tax picture? Tax planning can be extremely beneficial, potentially leading to thousands upon thousands of dollars saved if done well. Let’s go through 15 common strategies I use with my clients. My hope is that perhaps something in here will be helpful to you, hopefully reducing that pesky tax bill a bit.
  • Several studies have found that asset allocation has more influence on portfolio performance than any other investment decision.
  • It is that time of year when Social Security/Medicare recipients receive letters outlining their 2024 benefits. About 7% of Americans will see an ‘IRMAA’ surcharge on their Medicare premiums. Read on to learn more about IRMAA. What is IRMAA? IRMAA stands for Income-Related Monthly Adjustment Amount. It is an additional fee levied on top of []
  • The rule of 4% has been proven to be reliable through a wide range of tumultuous markets including the great depression, World War II, and the high inflation in the 1970s. It can be a good place to start, to see how well positioned you are for retirement.
  • A Roth 401(k) may be a better option if you are currently in a low tax bracket and expect to be in a higher bracket in retirement.
  • As we usher in the new year, 2024 brings not only new beginnings but also changes to the tax landscape that may impact individuals and businesses alike. The Internal Revenue Service (IRS) has introduced updated inflation-adjusted income tax brackets, reflecting the ever-evolving economic climate. In this article, we will delve into the details of the new tax brackets for 2024 and explore what these changes mean for clients. (Feed generated with FetchRSS )
  • Looking at your insurance picture? Wondering what to consider, what to prioritize, what to do? Let’s go through 15 quick ideas.
  • Hiring: Paraplanner

    We are currently searching for a full-time Paraplanner to join our busy firm. As a Paraplanner at ProsperiTea Planning you will be responsible for assisting in nearly every aspect of running the business. Paraplanner Duties: Update Client Plans: Update Net Worth Statements in Excel using material provided by the clients. Update MoneyGuidePro with recent statements [] The post Hiring: Paraplanner appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • I dont recall my parents giving to charity. Maybe they did, but they never talked about it or modeled it with their kids. Instead, I had to learn about giving as a young adult. I remember shrugging off Development Office requests from Mount Holyoke College, but got more enthused about helping the community after attending [] The post 3 Tips on How to Create a Giving Budget appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • Entry-level tax season assistant needed. We hire at least a receptionist, but if someone has an interest in tax-prep data entry please apply and we’ll add duties and compensation to match. Duties include: Seasonal Tax Prep Assistant duties: Answering phones using a flowchart to respond Receiving and scanning paperwork that comes in to a [] The post Tax Season Receptionist (at least) appeared first on ProsperiTea Planning - Wendy Marsden, CPA, CFP® - Greenfield, MA .
  • The Fed hopes to cool down the economy and decrease inflation by influencing rates on mortgages, credit cards, car loans, and business loans to decrease demand and slow down the flow of money.
  • “If she’s being abused by her partner, why doesn’t she just leave?” This is a common question about survivors of intimate partner violence (IPV). In this guest blog post, Kimberly Klein outlines some basics about IPV and economic abuse, and discusses a few connections to financial planning and long-term economic stability in the lives of IPV survivors.
  • Photo by David Fagundes
  • Losing a spouse is a deeply emotional experience, and the grieving process takes time. During this period, it can be challenging to concentrate on practical matters, especially when it comes to your financial well-being. That's where a trusted financial advisor comes into play, offering much-needed support and guidance. (Feed generated with FetchRSS )
  • Successful people have an internal locus of control, which means they take personal responsibility for their success and take control of their lives.
  • Becoming and staying wealthy requires the right mindset and the willingness to devote time and energy to manage your finances.
  • As we approach Halloween and the joy of seeing little monsters begging at your door for a bit of candy, there’s another monster lurking about, waiting to pounce on unsuspecting seniors. Her name is IRMAA and she’s far more terrifying and harmful than anything else you’ll see. She doesn’t beg and she’ll take far more… [Continue] (Feed generated with FetchRSS )
  • Five years ago, I wrote about my lifelong passion (some would say obsession) for spare change. This dates back to counting the spare change and “egg money” in my grandmother’s chipped gravy boat in the 70’s. Today, this is the spare change stash in my office: But here in the 21st century, I don’t []
  • Hiring a financial advisor to help your spouse in case you die before them is a prudent and responsible step to take in order to ensure their financial well-being and security. (Feed generated with FetchRSS )