This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA We never gave our children an allowance when they were growing up. I had an allowance when I was a kid. Unfortunately for me my dad tied what I could get for an allowance to my grades. He would say, … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA You have reached the holy grail (for some) and retired. Congratulations! You are in the Land of No Alarm Clocks. Now you can do (almost) whatever you want to do. You’ve worked your whole life to get here. Now it’s … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Our observation is that many people are very generous with the donations they make. It sure helps that there is likely a tax deduction for this, no question. Many people are accustomed to donating cash, writing a check to the … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA You’ve decided you need a financial advisor. Or perhaps you have a financial advisor and you’ve decided you need a second opinion. Here are 6 Questions to ask your prospective Financial Advisor. 1) How Long Have You Been Practicing? This is … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA The Hunger Games was a bestselling novel that was subsequently made into a movie. Both were awesome. The setting is one where the Capital is abundant in riches. The outlying 12 Districts are all living in poverty. Every year there … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA No, not me! Heavens no! I have a few helpers. They help you spend your money. Some folks call them ‘children.’ This is a colleague of mine whose goal was to be debt free by age 55. He reached his … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA To be eligible for a Roth IRA you need to have earned income from wages or from self-employment. Additionally higher income earners are not eligible. Married couples filing a joint return with a modified adjusted gross income of less than … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Investors need to know the difference between tax-free and taxable investments. Tax-Free Investments One way to have tax-free investments is to own state or municipal bonds. The interest paid on these bonds is not taxable income on your federal income … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Happy belated New Year. I hope that News Year’s Day was not too rough for you. The firework display at Bushnell Park in Hartford, CT were awesome! The last Roaring Twenties was, well, the 1920s; a mere century ago. The times … Read more
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Year to Date Returns Its late fall here in Connecticut. Soon we will celebrate Thanksgiving. Investors certainly have a lot to be grateful for this year. The markets (so far) have been kind to investors in 2019. Through November 12, … Read more