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MONEY MATTERS > And More Money Matters!

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MORE MONEY ARTICLES

Dividends - An Opportunity

   

 By: Paul A. Pouliot

The U.S. economy is slowly improving and investors are once again looking for places to put their money to work. But while the slow pace of economic growth has stymied some investors, it has also created opportunity for others who know where to look.

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By: Paul A. Pouliot

A financial advisor can offer valuable strategies and guidance to help you grow your savings and meet your financial goals and dreams. It’s important to select a qualified individual who is also a good match — personally and professionally. Here are some tips for finding the right person to help you plan for your financial future.

Ask for a preliminary meeting. Your first meeting should be complimentary and without any obligation on your part. Be wary if you are pressured to write a check or make any decisions at your initial consultation. During the meeting, listen carefully to what the advisor says. Does he or she ask questions to help clarify your financial circumstances and goals? Or are you listening to a canned speech? Be prepared to ask questions to determine how your advisor will work with you, including compensation (more on that later), frequency of meetings and calls and how your progress will be tracked. Look for someone who follows a process but is also flexible and responsive when your needs change.

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Women and Retirement: Myth vs. Reality



Are you dreaming of a leisurely retirement enjoying a second cup of morning coffee, or is a sunrise round of golf more your speed? Either way, you’ll need to know the facts so you can guide your retirement dreams with realism.

Historically the road to retirement hasn’t been smooth for many women. In fact, the Social Security Administration (SSA) reports that 17 percent of all elderly, single women live in poverty. With today’s longer life spans, this figure has the potential to rise. By recognizing the following myths for what they are, you can take control of your financial future and help improve this startling statistic.

Myth #1 – Social Security will take care of me in retirement.

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How are Financial Advisors Compensated?


How are financial advisers compensated?

When it comes to compensation, advisors fall into four categories:

• Salary based--You pay the company for which the
  advisor works, and the company pays its advisors a
  salary

• Fee based--You pay a fee based on an hourly rate (for
  specific advice or a financial plan), or based on a
  percentage of your assets and/or income

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By: Paul A. Pouliot

Tax season is here. If you’re one of the thousands of American who overpaid your annual tax obligation, you can look forward to a refund from the federal government. The average federal tax refund is nearly $3000, according to the Internal Revenue Service.[1] That’s a significant chunk of change. What will you do with your refund check?

Before you get the urge to splurge, think carefully about how you spend your windfall. If you must, give yourself a little “mad money” as a reward for your hard work, but take the bulk of your refund and apply it to something constructive. Here are a few suggestions to get you started.

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Spring Means Time for Financial House Cleaning

 

It’s spring at last. The birds are singing and the smell of barbeque fills the air. As you perform such springtime rituals as garage and basement cleaning, why not take some time to spruce up your finances? Review these important items now so you can relax and enjoy the budding season knowing that your financial house is in order.

 

1.    Your budget.  There’s a good chance that your cash flow needs will vary during the summer months.  Not only does summer travel come into play, but you may also need additional funds for child care while the kids are away from school.  This review may also reveal opportunities to trim expenses and increase savings goals.

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Managing Finances after the Death of a Spouse

 By: Paul A. Pouliot

In the midst of grief and sorrow, a newly bereaved spouse has decisions to make and responsibilities to manage. Here’s a short list of financial considerations for widows and widowers.

 

Get organized. As the surviving spouse, you’ll need a number of documents in order to finalize your partner’s financial affairs. When you receive your spouse’s death certificate, be sure to make several copies as you will need to provide it as proof of death when closing or changing ownership of accounts. You will also need your spouse’s Social Security number, your marriage certificate, life insurance policies, bank accounts, creditors and a copy of your spouse’s will or estate plan. Gather these documents and any associated paperwork and set up folders so you can more easily keep track of everything.

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