The Scanlon Report

6 Black Swans Easy to See

Some have called this the Waiting for Godot Recession. Waiting for Godot was a play that came out in the early 1950’s.  It was voted the most significant English-language play of the 20th century. 1) The two main characters banter back and forth and have various encounters while waiting for Godot. The recession we are… Continue Reading: 6 Black Swans Easy to See

Options to Reduce Taxes on Your Savings Interest

Local Manchester, CT FA Thomas Scanlon quoted by CNBC.com on Thursday, May 16, 2024. KEY POINTS Many Americans are earning more on cash after interest rate hikes from the Federal Reserve — and that income can trigger a surprise at tax time. “So many people were shocked by their cash interest earned” and taxes owed, said Boston-based certified financial… Continue Reading: Options to Reduce Taxes on Your Savings Interest

Your Home Sale Could Trigger Capital Gains Taxes

Kate Dore, CFP of CNBC.com quotes local Manchester, CT CFP Thomas Scanlon on Thursday, May 13, 2024. KEY POINTS As home values climb, more Americans owe capital gains taxes when selling property. But knowing how to calculate your home’s profit could reduce your bill, experts say. Most Americans do not owe taxes for selling a primary residence because of a… Continue Reading: Your Home Sale Could Trigger Capital Gains Taxes

6 Easy Ways a Financial Advisor Can Add Value

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA.

1) Risk Management

I know risk management is just another term for insurance. No one wants to read about insurance, much less buy more of it. Insurance however is just a way to share the risk. There are many risks we face and not all of them can be insured against. A good financial advisor will be able to articulate the risks and offer the ways to manage these risks.

2) Cash Flow

Face it, money is tight. The economy is not exactly roaring. One way a financial adviser can add value is to get a handle on your expenses. It won’t be their job to tell you what your budget is. That’s your job. A good advisor however will be able to tell you what the consequences of going off the reservation too far are. Day to day living expenses, saving for retirement and education and oh, paying for a little vacation all add up.

Continue Reading: 6 Easy Ways a Financial Advisor Can Add Value

7 Habits of Highly Effective People That Want to Retire

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA.

age-old wooden trunk with treasures

1) Start Early

Do you want to increase your chances of retiring at a reasonable age? Start early. As The Rolling Stones said, “Time Is On My Side.” Well said.  Don’t kick yourself for not starting earlier. You can’t turn the clock back. Just begin where you are now.

2) Live Beneath Your Means

This goes without saying. Which is why it needs to be said. To get to your retirement, you’re going to need to have some assets and income.  Don’t fall into the trap of trying to keep up with the Joneses. Live beneath your means and get to the retirement finish line long before the Joneses.Continue Reading: 7 Habits of Highly Effective People That Want to Retire

The Difference Between Tax-Deferred and Tax-Free Investing

Investors need to know the difference between tax-deferred and tax-free investing. Tax-Deferred Investing Investors can avail themselves to tax-deferred investing by contributing to their 401(k) plan at work or by funding their IRA. Contributions to these accounts are tax-deferred. The contributions are put in pre-tax. The funds grow tax deferred. When distributions are made from… Continue Reading: The Difference Between Tax-Deferred and Tax-Free Investing

7 Reasons Not to Wait Until Thanksgiving to be Grateful

This article is original content written by local Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA You don’t have to wait for Thanksgiving to be grateful.  You can be grateful every day.  It’s your choice.  Life might not be going swimmingly well for you every day.  I get it.  I truly hope you didn’t expect… Continue Reading: 7 Reasons Not to Wait Until Thanksgiving to be Grateful

5 Easy Reasons to Fund a 529 College Savings Plan

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 1) College is Expensive Financing a college education today can be a big challenge.  Having written some checks for college I find it handy to have a cold six pack close by. According to the College Board, the average tuition… Continue Reading: 5 Easy Reasons to Fund a 529 College Savings Plan

4 Things Every Investor Can Control

Investors can easily get distracted these days.  Hop in the car on the way to work, turn on the radio and get updates on the stock market futures. Check your online portfolio at work during your lunch break.  Perhaps you even check it several times a day when you should be working. Stop off after… Continue Reading: 4 Things Every Investor Can Control

7 Reasons Why All Investors Over Age 70 1/2 Should Consider a Qualified Charitable Distribution

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… Continue Reading: 7 Reasons Why All Investors Over Age 70 1/2 Should Consider a Qualified Charitable Distribution

Check the background of this investment professional on FINRA's BrokerCheck

Securities offered through Raymond James Financial Services, Inc., Member FINRA / SIPC
Investment advisory services offered through Raymond James Financial Services Advisors, Inc.

These services are not available in all states. We may only transact business in your state if first registered, excluded or exempted from state broker dealer, investment adviser, BD agent or IA rep registration requirements. Please contact us for approval in your state. No follow up or individualized responses will be made by the firm, or its representative, in the state unless all registration requirements have been complied with by the firm and its representatives. This site is published for residents of the United States only. Raymond James' Financial Advisors may only conduct business with residents of the states for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

Your privacy: Raymond James has policies that restrict access to nonpublic personal information about you to those employees, associates and others who have need for that information to help us run our business, manage your accounts, market or provide investment alternatives or services to you, or to employees, associates, and others who assist those who help us run our business, manage your accounts, or market or provide investment alternatives or services to you. Additionally, we maintain physical, electronic, contractual, and procedural safeguards to protect your nonpublic personal information. RJ Privacy Notice, RJ Legal Disclosures

Links to other websites: Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

“Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. Any opinions are those of Thomas F. Scanlon and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation.

391 Center Street • Manchester, CT 06040 • Phone 860-645-1515