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…
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Things are More Expensive When You Pay For Them Yourself
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4 Easy Steps to Stay Retired
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…
Tagged with: 401(K) Plan, 529 College Savings Plan, 529 Plan, Bank of Japan, Budget, Cash Reserve Fund, College, Connecticut, Connecticut Income Tax, CT, ECB, European Central Bank, Fed, Federal Reserve, Federal Reserve Board, Great Reccession 2008-2009, Income Tax, Individual Retirement Account, Interest Rates, Investment Portfolio, IRA, Living Expenses, Medical Bills, Medicare Tax, Money Market Account, Negative Interest Rates, New England, New Hampshire, Portfolio, Rainy Day Fund, Retire, Retirees, Retirement, Retirement Plan, Roth IRA, S & P 500 Index, Savers, Social Security, Social Security Tax, Starbucks, Swiss National Bank, The College Board
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…
Tagged with: 401(K) Plan, 501(c)(3), Adjusted Gross Income, AGI, Appreciated Property, Charitable Donation, Charity, Connecticut Estate Tax, Connecticut Income Tax, Connecticut Taxpayers, Estate Tax, Estate Tax Exclusion, Estate Tax Portability, Gift Tax, Income Tax, Investors, IRA, IRS, Itemized Deductions, Medical Expenses, Miscellaneous Itemized Deductions, Mortgage Interest, Non-profit Organization, QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD, Standard Deduction
3 Proven Reasons You Need a Roth IRA
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. …
Tagged with: 401(K) Plan, Adjusted Gross Income, Beneficiary, CPA, Financial Advisor, Financial Plan, High Income Taxpayers, Income Tax, Income Tax Deduction, Inherited Roth IRA, Investors, IRA, IRS, Life Expectancy, Pension, Pension Plan, Required Minimum Distribution, Retirement, RMD, Roth IRA, Savings, Self-Employment, Social Security, tax-deferred, Tax-Free, Wages
The Difference Between Tax-Free and Taxable Investments
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.
Tagged with: 401(K) Plan, Capital Gains, Capital Gains Distributions, Connecticut, Connecticut Bonds, CT bonds, dividends, Income Tax, Income Tax Bracket, Interest, IRA, muni bonds, municipial bonds, New York, New York Bonds, NY Bonds, Required Minimum Distribution, RMD, Roth IRA, state bonds, surviving spouse, Tax-Free, tax-free growth, tax-free investments, taxable investments
The Difference Between Tax-Deferred and Tax-Free Investing
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 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)…
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The Difference Between Good Debt and Bad Debt
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Good Debt For most folks one of their primary goals is to be Debt Free. With that said, there will be times when…
Tagged with: Bad Debt, Balance Sheet, Borrowing, Car Loans, College Board, Connecticut, Credit Cards, Debt, Debt Free, Financial Plan, Good Debt, Great Recession 2008-2009, Higher Education, Homeowner, Homeowners Insurance, Income Tax, Income Tax Deduction, Interest, Interest Rate, Loans, Manchester Community College, Manchester CT, Mortgage, Mortgage Interest, Student Loans, Trade School
When You Should Take Your Required Minimum Distribution Early
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Required Minimum Distribution The Internal Revenue Service (“IRS’) requires taxpayers to begin to take their Required Minimum Distribution (“RMD”) from their…
This is NOT Your Parents Retirement
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Are you planning for your retirement? If so, keep in mind, This is NOT Your Parents Retirement. Your Parents Retirement
No Deposit. No Return.
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA What does this mean? If you don’t put something in (deposit) you won’t get something out (return). Isn’t that the truth? This applies whether you…
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