I received a new job offer but the salary is low. Should I make a counteroffer?
Posted by Canby Financial Advisors on Fri, 12/16/2016 - 13:18
Probably. Getting paid less than you should when starting a new job can affect not only your current paycheck but also your long-term asset accumulation. For example, the less money you earn, the less you have available to contribute to your retirement plan, and potentially the lower the amount of matching employer contributions you'll receive if they are offered.
What should I evaluate when considering a new job offer?
Posted by Canby Financial Advisors on Fri, 12/16/2016 - 13:17
Today, few people stay with one employer until retirement. Instead, it's likely that at some point during your career, you'll be searching for a new job. You may be looking for more money, greater career opportunities, or more flexibility. Or you may be forced to look for new employment if your company restructures. Whatever the reason, at some point in your working life you might be faced with a new job offer. Should you take it? Here are some things to evaluate.
Estate Planning: It’s for Everyone
Posted by Daniel J. Flanagan, CPA/PFS, CFP®, AEP® on Mon, 11/14/2016 - 13:37
If you’re like many people, you’ve thought about making an estate plan, but you just never get around to doing it. Perhaps you’re too busy, or maybe you’d rather avoid considering what will happen in the event of your incapacity or death. Although these concerns are understandable, estate planning is a vital component of your financial well-being—and one that’s best tackled sooner rather than later.
Why you need an estate plan
Will vs. Trust: Is One Better Than The Other?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:41
When it comes to planning your estate, you might be wondering whether you should use a will or a trust (or both). Understanding the similarities and the differences between these two important documents may help you decide which strategy is better for you.
What is a will?
A will is a legal document that lets you direct how your property will be dispersed (among other things) when you die. It becomes effective only after your death. It also allows you to name an estate executor as the legal representative who will carry out your wishes.
Pretax, Roth, or After-Tax Contributions: Which Should You Choose?
Posted by Canby Financial Advisors on Tue, 11/01/2016 - 20:31
If your employer-sponsored retirement savings plan allows pretax, after-tax, and/or Roth contributions, which should you choose?
Pretax: Tax benefits now
With pretax contributions, the money is deducted from your paycheck before taxes, which helps reduce your taxable income and the amount of taxes you pay now. Consider the following example, which is hypothetical and has been simplified for illustrative purposes.
Deleting Sensitive Information? Don’t Rely on Your Recycle Bin
Posted by Michael D. Flaherty, CFP® on Fri, 10/14/2016 - 09:33
Computer forensic experts are a lot like paleontologists—the scientists who study the life of past geological periods. Paleontologists have never unearthed a full dinosaur skeleton. But, by examining just a small sample of scattered bones, they’ve been able to figure out the skeletal structure of hundreds of dinosaur species.
Likewise, when we delete our computer data by conventional means (i.e., moving a file to the Recycle Bin and emptying that bin), we leave “fossils” or remnants behind. And the
Should I accept my employer's early-retirement offer?
Posted by Canby Financial Advisors on Fri, 10/14/2016 - 09:17
The right answer for you will depend on your situation. First of all, don't underestimate the psychological impact of early retirement. The adjustment from full-time work to a more leisurely pace may be difficult. So consider whether you're ready to retire yet. Next, look at what you're being offered. Most early-retirement offers share certain basic features that need to be evaluated. To determine whether your employer's offer is worth taking, you'll want to break it down.
Top Financial Concerns of Baby Boomers, Generation Xers, and Millennials
Posted by Canby Financial Advisors on Thu, 10/13/2016 - 11:39
Many differences exist among baby boomers, Generation Xers, and millennials. But one thing that brings all three generations together is a concern about their financial situations.
What Are My Healthcare Options if I Retire Early?
Posted by Canby Financial Advisors on Thu, 10/13/2016 - 11:36
If you're eligible for an early-retirement package from your employer, determine whether post-retirement medical coverage is included. These packages sometimes provide medical coverage until you reach age 65 and become eligible for Medicare. Given the high cost of medical care, you might find it hard to turn down an early-retirement package that includes such coverage.
Earnings Call: A Closer Look at Financial Reports
Posted by Canby Financial Advisors on Tue, 10/04/2016 - 18:32
The second quarter of 2016 marked the fifth quarter in a row of declining U.S. corporate earnings. Low oil prices and a strong dollar were largely to blame for lackluster financial results. (1)
Publicly traded companies are required to report quarterly financial results to regulators and shareholders. Earnings season is the often-turbulent period when most companies must disclose their successes and failures.