News

Securing the future as life partners

aca_admin — Thu, 19 Aug 2010 15:32:00 GMT

The Chicage Tribune article "Securing the future as life partners" by Jane Bennett Clark discusses how unmarried couples need to create a legal framework to protect the rights that married couples receive, from property division to estate planning.

Dana Levit suggusts keeping track of gifts, saying "unmarried heterosexual couples and all same-sex couples are considered "legal strangers" for federal tax purposes. That awkward status requires you to report gifts to each other of more than $13,000 a year (as of 2010). The excess counts against each individual's $1 million lifetime federal gift-tax exemption."

Tune in to The Wise & Weary for "A Matter of Trust"

aca_admin — Mon, 16 Aug 2010 19:29:22 GMT

70% of married women will eventually become widows. This new status brings feelings of confusion, vulnerability and fear for the future. Even worse, new widows are often viewed as prey by so-called advisors who seek to exploit them by pushing expensive and inappropriate financial products. If you are newly widowed-or know someone who is-listen in as Deb Hoskins interviews Kathleen Rehl, PhD, CFP, as they discuss ways to protect yourself from the sharks, and where you can find truly trustworthy financial advice.

This episode will air Wednesday, August 18 at 4pm Eastern/1pm Pacific on Voice America Business. Click here to listen live or download a recording after the program has aired.

Securing Guaranteed Retirement Income

aca_admin — Fri, 13 Aug 2010 19:18:00 GMT

The article "Securing Guaranteed Retirement Income" by Sarah Morgan explores how annuities can benefit retirees, the complexity of the product may be causing a lack of demand for them. ACA member John Scherer notes that, "annuities’ drawbacks include a lack of inflation protection and a lack of flexibility if a retiree’s circumstances change dramatically due to illness or another major upheaval."

How to Beat Deflation

aca_admin — Sat, 07 Aug 2010 15:27:00 GMT

In the Wall Street Journal article How to Beat Deflation by Jane J. Kim and Eleanor Laise discuss the possibility of deflation and what that would mean for the economy. Troy Von Haefen weighs in on bonds, saying "zero-coupon Treasury bonds, known as strips, can provide the best protection, since the fixed rates are locked in and automatically reinvested at the fixed rate."

Dodging Risk Early Is No Sure Thing

aca_admin — Fri, 06 Aug 2010 14:51:01 GMT

In the SmartMoney.com article "Dodging Risk Early Is No Sure Thing" by Sarah Morgan, the author discusses a study that shows a growing number of young investors are seeking more conservative portfolios. While this reaction may have to do with the recent ups and downs seen in the stock market, it may not pay off in the long run.

John Scherer points out, "Focusing on basic advice about overall asset allocation principles will be more helpful than trying to stay up to date on the latest “hot” investment strategy. Picking the best investment vehicle, with solid performance and low expenses, is important, but simply saving and investing at all is the most vital step in preparing for retirement."

Finance Basics for Partners

aca_admin — Sun, 01 Aug 2010 15:23:00 GMT

The Kiplinger's article "Finance Basics for Partners" by Jane Bennett Clark lists several steps for un-wed couples to take to ensure their legal rights are protected. One example identified by Dana Levit is keeping track of gifts.

"Couples who are married in the eyes of Uncle Sam can give each other unlimited assets without tax consequences. But unmarried heterosexual couples and all same-sex couples are considered 'legal strangers' for federal tax purposes," says Dana. "That awkward status requires you to report gifts to each other of more than $13,000 a year (as of 2010). The excess counts against each individual's $1-million lifetime exemption, after which the federal gift tax kicks in."

Student Debt: Heavier Burdens, Narrower Career Choices

aca_admin — Fri, 30 Jul 2010 15:15:00 GMT

The Fiscal Times article "Student Debt: Heavier Burdens, Narrower Career Choices" by Lynn Asinof provides some student loan guidelines to help college graduates avoid taking on too much debt. Dana Levit points out that if an individual enters a profession with a starting salary of $30,000 and borrows that much in student loans, they can typically cover the repayment but, "it will leave little to spend on anything else and virtually eliminate all savings."

When Times Get Tough, Talk It Out

aca_admin — Sun, 18 Jul 2010 18:20:00 GMT

In the Wall Street Journal article "When Times Get Tough, Talk It Out," Ruth Mantell discusses how finances are a major cause of stress in relationships. ACA member Robert Schmansky advises that, "if you are the spouse that has more of a handle on the finances, don't take it for granted that the other spouse knows these things."

Banks offer deals to go paperless

aca_admin — Fri, 16 Jul 2010 15:07:00 GMT

Susan Hogan's article "Banks offer deals to go paperless" for WPRI.com notes that many banks are offering incentives for their customers to go paperless and receive electronic versions of their bank statements. While this can be good for the environment and help clear clutter Dana Levit cautions, "What we're going to see is people are going to be trying to go back into historical data, and their not going to be able to get it, or they are going to have to pay for it," she said.

Register for the ACA Annual Conference

aca_admin — Wed, 14 Jul 2010 18:54:44 GMT

Registration for the 2010 ACA Conference is now open. Simply click on the link to REGISTER. You will be directed to the ACA member site, where you'll also find information on all the conference sessions, special events, making your hotel reservation, and more. Don't forget to register for the special events of your choice, as well.

Repaying Social Security Can Be a Good Deal

aca_admin — Wed, 14 Jul 2010 17:56:00 GMT

In the SmartMoney article "Repaying Social Security Can Be a Good Deal" Lisa Scherzer discusses the pros and cons of repaying social security benefits. John Scherer points out that, "your health outlook is important, so if you’re in poor health, resetting makes little financial sense."

Joe Alfonso Elected to NAPFA West BOD

aca_admin — Tue, 29 Jun 2010 13:41:50 GMT

Congratulations to ACA member Joe Alfonso who was elected to serve on the Western region Board of Directors for NAPFA.

Finding an advisor

aca_admin — Fri, 11 Jun 2010 18:01:00 GMT

In his posting "Finding an Advisor" for the Marketplace blog, Chris Farrell lists ACA as a resource for finding educated, credentialed financial advisors who focus on their client's entire financial situation.

ACA featured on CBS MoneyWatch.com

aca_admin — Thu, 10 Jun 2010 17:53:51 GMT

In Jane Bryant Quinn's latest articled for CBS MoneyWatch.com titled "Want to Help Your Children? Give Them a Financial Plan" she writes that parents looking for a practical and unusual wedding or graduation gift should consider a session or two with a financial planner. She goes on to list ACA as an organization where individuals can locate a fee-only financial advisor.

More Financial Advisors Helping Early Retirees Plan For Health Costs

aca_admin — Thu, 27 May 2010 18:25:00 GMT

The Financial Advisor article "More Financial Advisors Helping Early Retirees Plan For Health Costs" describes financial advisors as becoming more active in helping their clients prepare for the high costs of health care before they qualify for Medicaid. ACA member Howard Caldwell notes that "if they're retiring early and don't have access to Medicare, that becomes a big issue."