Asset Planning, Inc Blog

The latest from the team.

The Sequester, What Will Happen?

Neither a Democratic nor a Republican bill aimed at replacing the so called sequester was able to get enough support to win a test vote on Thursday. The budget cuts for fiscal year 2013 will not take effect all at once on Friday. Instead, they will go into effect gradually through the end of the fiscal year on Sept. 30. The sequester would cut about $1 trillion over nine years.

Beginning today:

-Across-the-board cuts under sequestration formally take effect today. The cuts amount to "only" 2.3% of total federal spending.

-Sequestratoin is likely to reduce real GDP growth in 2013 by 0.6%, with the effects concentrated in the second and third quarter.

-Having passed the March 1st deadline to avoid sequestration, the next date to watch will be March 27th when current spending authority expires.

-Social Security, Medicaid, veteran benefits are exempt from the sequester.

U.S markets on Thursday shrugged off the budget drama in Washington. Financial stocks held their ground Friday as investors, with plenty of time to adjust their portfolios, looked past looming federal spending cuts.

Continue reading
  2031 Hits

How to protect your privacy while online

Click here to read a useful article explaining how you can stop companies, like Facebook, from tracking your online activity. 

Continue reading
  2557 Hits

Mortgage Referral



Mortgage rates recently hit an all time low & if you haven't already refinanced your mortgage, now might be the time to do so. We have found a new mortgage resource that is very professional, timely, and offers competitive rates. If you would like a referral, please feel free to contact us.
 

Continue reading
  2176 Hits

Social Security Statements Online

Last year, to reduce costs, the Social Security Administration (SSA) stopped mailing annual paper statements to anyone under age 60. These statements are a great tool to use for retirement planning. The statements provide a history of your annual earnings and estimates of your social security benefits at various retirement ages, along with estimates for disability and survivor benefits.

Last week, the SSA added the ability to access your Social Security statements online. Here is the website to start the process to access your statement:
http://www.socialsecurity.gov/mystatement/

I recommend that you review this at least once a year to make sure that your income is recorded accurately in the Social Security database. Your future monthly benefit is based on your average earnings over your lifetime. If your earnings are incorrect, your benefit will most likely be wrong.

Continue reading
  2103 Hits

Financial Planning Magazine Online

Discusses the impact of proposed regulation for the financial services profession in Financial Planning Magazine.Click Here to read the full article we are featured in. 

Continue reading
  2446 Hits

Financial Planning Magazine-April Issue

Follow this link, to read Sandy's feature in this month's Financial Planning Magazine. The print edition of the article Opportunistic Retirement Investing has pictures from the photo shoot the magazine did of Sandy at our office.
 

Continue reading
  2253 Hits

Retirement Contributions for 2012

Changes for retirement contributions beginning in 2012:

  • 401k, 403b, & 457 maximum employee contributions increase to $17,000 per year. The catch up contribution for those age 50 and above remains at $5,500 per year.
  • IRA contributions remain unchanged at $5,000 plus $1,000 catch up per year for those age 50 and above.
  • Adjusted Gross Income (AGI) phase outs increase for those that can deduct IRA contributions and still participate in a qualified retirement plan (QRP). All Fliers (except Married filing Separately) that don't participate in a QRP can deduct IRA contributions from their taxes regardless of AGI. Those participating in a QRP can only deduct IRA contributions if AGI is under $58,000 for Single Filers and $92,000 for Married Filing Joint. Partial deductions are allowed for fliers with AGI between $58,000-68,000(Single) and $92,000-110,000 (MFJ). For an IRA contributor who is not covered by a QRP but his or her spouse is, the deduction is phased out between $173,000-183,000 (MFJ). Remember if you make a deductible IRA contribution, always keep track of your basis by filing a 8606 with your tax return.
  • You can make a full Roth IRA contribution if your AGI is under $110,000 (Single) or $173,000 (MFJ). Partial contributions are allowed for fliers with AGI between $110,000-$125,000 (Single) and $173,000-$183,000 (MFJ).


 

Continue reading
  2168 Hits

Protecting your online accounts from hackers

Many of us today enjoy the convenience of managing our finances via the world wide web. I personally enjoy the ease of record keeping, bill pay, and lack of trips to the bank that online banking, and the like, has brought. However, every benefit has it's cost. In the case of online account maintenance, the biggest potential cost is identity & monetary theft from hackers. One of the greatest protections from this risk is choosing a password that is difficult for a hacker to guess. Mashable Tech published a good article on the top 25 most vulnerable passwords of 2011 as well as tips on choosing a secure one. Click on this link to read the full article.

Continue reading
  2166 Hits

Social Security and Medicare changes for 2012

For the first time since 2009, social security recipients will get a 3.6% cost-of-living adjustment (COLA).  The COLA adjustment will also affect other areas:

  1. The maximum amount of earnings subject to the social security tax will increase from $106,800 to $110,100.
  2. The minimum amount a worker must earn to qualify for a quarter of coverage under social security is $1,130.
  3. The amount a social security recipient can earn before having to forfeit social security benefits is increased to $14,640.  This only applies to people that are receiving benefits before their “Full Retirement Age” (FRA) and are also receiving wages.  For example, if you started to receive benefits at age 62 and your FRA is 66, you cannot earn more than $14,640 in wages without being penalized.  The income limit does not apply to investment or pension earnings.

 

Medicare also just announced their premium adjustments for 2012.  The new premium for part B will be $99.90/month.

  1. If you were on Medicare in 2008, your premium was frozen at $96.40, due to a law that freezes part B premiums in years that there are no COLA increases if you also receive social security.
  2. If you started Medicare in 2009 – 2011, the premium was $115.40, so the premium will be reduced to $99.90 for those recipients.
  3. Medicare premiums are higher for recipients that have Adjusted Gross Incomes of more than $85,000 for single and $170,000 for married taxpayers.  Those premium adjustments have not been announced yet.

Medicare Part D prescription drug coverage and Medicare Advantage enrollment runs until December 7th this year, which is earlier than in previous years when enrollment ran until the end of the year.  A great resource to help you decide is on the medicare website:

www.medicare.gov/find-a-plan

You just need to provide information about your prescription drugs and you will see what each plan in your area will cost in premiums and out-of-pocket expenses.

 

Continue reading
  2094 Hits

Top Wealth Manager

 Top_Wealth_ManagersAugust 2011- Asset Planning, Inc. is recognized in Advisor One's Top Wealth Manager report. The survey captures the largest and most successful independent wealth management firms – those that are owned and operated by advisors themselves. For 2010, Asset Planning Inc. experiences 20% growth in asset under management (AUM) compared to a12.8% return on the S&P and 18% average growth among peers. To view the rankings click here. 

Continue reading
  2214 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
Economic Security Fox News story emergency kits Two-Step Verification settlement options memorial Day weekend Shred paperwork contribution limit June 29 Federal Trade Commission website toilet paper earnings fallout self-help topics Part B April 18 2017. team members September 9 Asset Planning IRA accounts tax deadline borrowing money pets July weekend Retirement Contribution Limits Amazon home emergency preparedness kits email notifications Orange County flash drive privacy notices Expired medications credit monitoring service policy 2018 IRA contributions January 10 relief efforts records 20 year anniversary holidays approach pet industry National Ice Cream month fees donation counts https ://seekingalpha tax filing deadlines estate Notary Public cell phones pet cell phone provider asset Planning Orange County Superior Court client portal Charles Schwab Treasury Department clients show support Medicare Open House Wells Fargo employees Legal robocalls EEChecklist-Kits.pdf stockpilingchecklist.pdf cell phone carriers offer interest rates home break-ins Coronavirus Aid vacation https :// credit card company stock pile car loans IRS ice cream event operations manager cell phone service provider credit freeze official certification account numbers payments checklists markets February 14 September 30 2020. business hours Joey Gonzales notary services vision screening emergency folder pet supplies coronavirus tax returns opt-out “ skimmer ”. illiegal robocallers CA FTB clone counterfeits fun facts health care costs 900 number Part D premiums . cell phone SIM swap scam 70 1/2. investment statements documents Labor Day Medicare Part B phishing sites Roth IRA 2017 Equifax breach partner /owner parking spots July 6 house sitter tax deadlines banking interest web address Kiplinger Letter information water … non-prescripstion sunglasses spam phone phone companies credit card fraud retirement clients Affordable Care Act Financial Planning Magazine Independence Day cell phone carriers California Lions Friends Medicare Part B premiums privacy settings retirement accounts hurricane Dorian 4 pm -8pm CFP ® 401K donation items consumer spending tax records news coverage company Medicare question spring cleaning estate planning Erin Nelsen ID card Social Security Administration padlock information Facebook 23 andme student loans April 11 scams July 4 market turmoil DNA test kits driver license tax season bottom line spread app Medicare plan Social Security Healthcare portal birth certificates money pet donation drive CARES Act blog post Open Enrollment October 1 2020. credit cards offering insurance September 8 July 3 rd Victor Dergunov drive /usb retirement planning jury duty years Mobile Banking Security Tips trustee paper records FEMA website home mortgages trust identity thieves gap insurance family members TD Ameritrade VOIP landline phones 2017 IRA contributions check lists insurance policies executive order Auto insurance Ice Cream Social Puerto Rico CERTIFIED FINANCIAL PLANNER exam phone items home security rescue organizations earthquake app ice cream debt COVID -19 virus people medications stimulus package assets media accounts Medicare Advantage president Trump D premiums Facebook profile Supplemental Security Income paperwork clutter Brexit vote Wells Fargo customers credit score FSA emergency kit 2017 TD Ameritrade National LINC Conference disaster areas IRS deadline phishing scams April 15 identity theft summer wells Fargo fun atmosphere breach health care services estate planning direction retirement plans increase home emergency kit text messages Flexible Spending Account Kraig Mathias prescription eyeglasses life saver home card reader insurance policy integral member chip-enabled EMV cards