Brought to you compliments of Caroline Girgis, JD, and Dwayne Grady, MBA, ChFC®
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December 2008
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Saturday, February 4, 2012
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New Year's Resolutions
As the new year approaches, even those of us who don't believe in new years resolutions have to admit there is no better time then now to take a renewed look at their financial affairs. This months newsletter has several articles that focus on just that- a renewed look at your financial affairs.
It is our goal to help you achieve your financial goals and objectives based on your priorities. For our existing planning clients we are starting this year by completing a Financial Physical. In our upcoming meetings we will begin to review all things financial. Starting with cash reserves, investment allocations, goal planning, insurance planning, estate planning and more.
For those of you receiving this newsletter who are not planning clients, please allow us to help you by working with you on a new resolution to take control of your financial affairs. The earlier you start to implement a financial plan, the better off you could be in the future. STOP procrastinating and take control of your financial life. NOW is the time to review your current situation, to analyze your goals and objectives, to put together a net worth statement and a budget, and to set some new priorities. NOW is the time to review your life insurance policies, your investment and savings strategies, and your retirement and estate planning needs.
Please call or e-mail us to schedule a time to complete your Financial Physical. We also encourage you to explore our new website at www.cornerstone500.com.
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First Things First---How's Your Cash Reserve?
A cornerstone to smart financial planning is establishing and maintaing an effective cash reserve. An effective cash reserve is important but especially important in a recession.
[FULL STORY]
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Year End Tax Planning
As the end of the tax year approaches, you can probably get a rough idea of how much you'll owe in taxes. To lower your tax bite, it is wise to take certain steps at year-end. Numerous strategies exist to help you, including reviewing professionally developed year-end tax checklists, performing a marginal tax rate analysis to ensure that you won't be pushed into a higher tax bracket unnecessarily, and postponing income and accelerating deductions (or vice versa).
[FULL STORY]
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Is It Time to Review Your Estate Plan?
There are five estate planning documents you may need, regardless of your age, health or wealth:
1. Durable power of attorney
2. Advanced medical directives
3. Will
4. Letter of instructions
5. Living Trust
The last document, a living trust isn't always necessary, but it's included here because it's a vital coomponent of many estate plans.
When you have implemented your estate plan, be sure to perform a periodic review and, if necessary, make revisions that reflect any changing circumstances and tax laws.
[FULL STORY]
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Review Your Policies Annually
Do your insurance policies provide you with adequate protection in all major areas, including life, health, disability, homeowners or renters, automobile, and personal liability? When was the last time you reviewed all of your insurance policies?
Your insurance needs do not remain stagnant, and will change over time. You should assess your insurance coverage periodically, especially if a major event occurs in your life.
[FULL STORY]
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Should You Consider International Investing?
During the 1990s, the U.S. stock market
significantly outperformed international stock markets. International
investments drew little attention during that time. But now the
situation has reversed, with international investments outperforming
U.S. stock investments over the past few years. Is now the time
to take another look at international investments? Before deciding,
consider these points.
[FULL ARTICLE]
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The Basics of Currency Fluctuations
An international investment's return is
based on two factors - the investment's return in its local currency
plus currency fluctuations. For example, suppose you purchase
a British stock whose price increases 10% in one year in terms
of British pounds. If, during that same year, the British pound
increased in value by 5% compared to the U.S. dollar, your total
return would be 15% - 10% from the investment's return and 5%
from currency fluctuations. However, if the British pound decreased
by 5%, your total return would be 5%.
[FULL ARTICLE]
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Don't Underestimate Inflation
Inflation has been tame for so long that
it's easy to ignore when planning for retirement. However, even
inflation of 2% or 3% per year, over a period of many years, can
seriously erode the purchasing power of your funds. At 2.5% inflation,
$1 today will be worth 78 cents in 10 years, 61 cents in 20 years,
and 48 cents in 30 years. That can have a major impact on those
entering retirement
[FULL ARTICLE]
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Make Saving a Habit
Habits are all about the principle of human
inertia: we tend to keep doing what we've always done and shy
away from doing something new. That principle may work against
you at first. If you're not used to saving money, it can be hard
to get started. But once you gain some inertia in your new saving
habits, it'll be relatively easy to keep it up.
[FULL ARTICLE]
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The Changing Dynamics of Home-Equity Loans
When home prices were increasing, home-equity
loans were a convenient way to finance numerous types of expenditures.
While the loan is secured by the home's equity, the proceeds can
be used for anything, including expenditures that have nothing
to do with the home. But with declining home values and increasing
numbers of foreclosures, lenders are not as anxious to approve
home-equity loans.
[FULL ARTICLE]
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Dwayne Grady, MBA, ChFC®, and Caroline Girgis, JD, through Cornerstone Wealth Strategies Group, are committed to providing the finest service and investment advice to their clients. Both Dwayne and Caroline specialize in serving the needs of high-net-worth individuals, successful professionals, business owners, and retirees.
Both Dwayne and Caroline hold advanced degrees and designations and are highly knowledgeable in the areas of tax-advantaged investing, retirement planning, financial planning, and professional money management.
Successful management of your finances today is the key to the lifestyle that you and your family will enjoy-or endure-tomorrow. They would be happy to assist you with any of your financial needs.
Feel free to contact us via e-mail at
info@cwsg1.com
or visit our Web site
www.cornerstone500.com
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Copyright © 2008 Integrated Concepts Group, Inc.. All rights reserved.
Some information provided in this newsletter was prepared by Integrated Concepts. This newsletter intends to offer factual and up-to-date information on the subjects discussed, but should not be regarded as a complete analysis of these subjects. Professional advisers should be consulted before implementing any options presented. No party assumes liability for any loss or damage resulting from errors or omissions or reliance on or use of this material.
This Newsletter is for informational purposes only and is not a solicitation or an offer to buy or sell any company. United Capital Financial Advisers, Inc. (UCFA) provides advice and makes recommendations based on the specific needs and circumstances of each client. For clients with managed accounts, UCFA has discretionary authority and makes investment decisions based on the specific needs and circumstances of each client. Investing involves risks and clients should carefully consider their own investment objectives and never rely on any single chart, graph or marketing piece to make decisions. UCFA does not offer tax advice. Please consult your tax advisor for more information about your individual situation.
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TELL A FRIEND
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