FPA Perspectives

Financial Planning Perspectives consists of timely articles on a variety of financial planning topics brought to Wi$eUp by the Financial Planning Association.

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May 2008 [ click for pdf ]

• Want to Fight I.D. Theft? Be Careful How You Treat Your Information in the Real and Virtual Worlds

  Foiling I.D. theft is no longer just a matter of buying a document shredder and keeping track of your receipts – though it helps. I.D. theft evolves every day and according to security experts, net-savvy thieves are getting more efficient about blending their illegal activity on the ground and online. Here are some examples from Identity Theft Resource Center (ITRC), a non-profit group focusing on the latest I.D. theft trends and assistance for victims:

• Want to Avoid Medical Debt? Take These Preventative Measures

  Medical debt is a leading cause of bankruptcy in this country – a fact made even more frightening because it is devastating people who actually have health insurance. According to January statistics from the Commonwealth Fund, a non-profit health care action group, more than one in six Americans—or 17.7 percent of the non-elderly population—lived in families spending more than 10 percent of after-tax income on health care in 2004, up from 15.9 percent in 2001.

• If You Can’t Sell a Home, Is Renting a Good Idea?

  In this increasingly tough economy, people are not only having a tough time selling their homes in slow markets, they’re also having a tough time keeping their jobs. That means there are families facing a dangerous squeeze. For those who have a chance to seek employment in other markets or simply want to move for any reason, they’re facing the prospect of their current home sitting empty while the lender still wants their monthly check. No wonder why renting seems like a good solution. But before you make that decision, consider the pros and cons.

April 2008 [ click for pdf ]

• What if Your 401(K) Plan at Work is Less Than Great?

  Good financial planning requires a holistic approach to all of the spending and investing you do in your life. That means that the investing you do at work shouldn’t be isolated from the investment choices you make outside the office – assuming you are making such choices. Yet that’s at the crux of a big problem.

• Before the Summer Hurricane and Tornado Season Begins, Develop Your Own Disaster Plan for Home and Business

  To some, it might seem like an impossibility. How can you really plan for an act of nature? Actually, no one can truly know how storms and other weather-related disasters can affect their lives until they happen. But as we approach the third anniversary of Hurricane Katrina, it’s appropriate for Americans to think how an angry Mother Nature could affect them.

• Need to Teach Young Kids about Money? Try These Ideas

  It’s amazing in these times of crippling consumer debt, troubled investment markets and real estate turmoil that children don’t get mandatory training in money management in school. But until that changes, Mom and Dad, it’s up to you.

March 2008 [ click for pdf ]

• Thinking About a Tax Refund Loan? Rethink Your Refund and Spending Strategy Instead

  The formal name is refund anticipation loans, or RALs. They’re marketed primarily to cash-poor taxpayers who use their annual federal and state tax refunds as a piggy bank for discretionary items or increasingly, essentials like food and rent.

• When You Add Up the Numbers on Retirement, It Pays to Save Now

  With all the financial responsibilities we face, it’s often tough to put yourself first. But retirement savings must be a priority, and sometimes to drive that home, it pays to see some statistics.

• Be Smart about Renovations in a Down Home Market

  It’s unlikely the real estate market will return to the fever pitch of the mid-2000s anytime soon – and maybe that’s not such a bad thing. But even though homes are languishing on the market, it’s not a bad time to make sensible renovations that will better position your property when times improve.

February 2008 [ click for pdf ]

• When is a Prenup a Great Valentine’s Day Gift? When it’s Time to Remarry

  No, it’s not exactly candy and flowers. But for couples attempting another try at marriage, a prenuptial agreement can either set the groundwork for a new and trusting relationship, or a good reason to call it a day.

• When Considering Long-term Care Insurance, Don’t Forget the Tax Issues

  With Baby Boomers marching en masse into their senior years, the question of whether or not to buy long-term care (LTC) insurance is taking center stage.

• Headed for College? Whether It’s You or Your Kid, It’s Time to Check the Rules on Financial Aid

  On Jan. 1, students became eligible to file their Free Application for Federal Student Aid (FAFSA) online for the 2008-09 school year. Even if you feel you’ve planned well for your child’s education or hope you’ll have enough when he or she enrolls, it’s a good idea to learn about financial aid well in advance.

January 2008 special edition [ click for pdf ]

• When Recession Fears Surface, Check Your Plan – Or Make One

January 2008 [ click for pdf ]

• Happy New Year – Put These Dates on Your Financial Calendar
• If a Friend or Relative Needs Financial Help, Do it the Right Way
• You’ve got an Investment Plan. Do You Have a Self-Investment Plan?

December 2007 [ click for pdf ]

• Making the Right Money Resolutions Can Lead to a Much Healthier, Happier 2008
• Is Your Home Insurance Coverage Adequate?
• One-Size-Fits-All Target Funds Can Miss Their Mark

November 2007 [ click for pdf ]

• As You Gobble, Give Some Thought to the Rising Costs of Healthcare
• Give Yourself a Special Gift at the Holidays: A Season without Debt
• Your Personality is a Big Part of Your Investment Approach

October 2007 [ click for pdf ]

• Getting Today’s Best Returns from a Home Renovation
• Trick or Treat: Why You Should be Scared of Financial “Help” on Late-night TV
• Thinking About a New Mortgage in 2008? It’s a New World Out There

September 2007 [ click for pdf ]

• Does Your Family Have a Long-term Care Strategy?
• As the New Models Roll In, Keep Your Money from Rolling Out
• Don’t Go in Blind to Open Enrollment – Review Your Options First

August 2007 [ click for pdf ]

• Top 10 Money Decision for Today’s Incoming College Freshman
• Is Pet Insurance Worth It?
• Is it Your Year to Buy a Timeshare? Do Your Homework First

July 2007 [ click for pdf ]

• Don’t Wait for a Layoff to Plan for One
• Going to the Hospital? Prepare Financially as well as Medically
• Whether You Choose Credit Counseling or are Ordered to Attend, Check out the Agency First

June 2007 [ click for pdf ]

• Prevent Financial Fireworks This 4th — Do a Midyear Financial Checkup
• Thinking of Buying Your First Home or Refinancing? Here's How to Improve Your Credit Before You Apply
• Your First Job Can Be the First Great Move in Your Financial Life

May 2007 [ click for pdf ]

• Just Mailed Your Check to Uncle Sam? Get a Jump on Your '07 Taxes Now
• Singles and Unmarried Couples Require Their Own Financial Planning Structure
• Make Sure Your Travel Insurance is a Real Safety Net

April 2007 [ click for pdf ]

• Taking the Plunge: Affording Your Big Summer Dreams
• Getting Your Kids Ready for Their First Summer Job
• Paying for Wedding Bells: Is the Big Party Worth a Solid Financial Start?

March 2007 [ click for pdf ]

• Retirement 101: As Tax Deadline Approaches, Make Sure You Know All Your Retirement Contribution Options
• When Doing Your Own Taxes Makes Sense…And When It Doesn’t
• April Fool’s! Can You Spot The Financial Myths On This List?

February 2007 [ click for pdf ]

• A Money Quiz for You and Your Sweetheart
• Smart Retirement Moves to Make — or Start — by April 17
• How to Keep Your Teen's Car Insurance Rates As Low As Possible

January 2007 [ click for pdf ]

• Put Your Credit Resolutions in Motion for the New Year
• As the New Year Begins, Make Sure You're Not Making Mistakes With Your 401(k)
• Happy New Year — Put These Dates on Your Financial Calendar

December 2006 [ click for pdf ]

• What Are Exchange-traded Funds and How Do They Work?
• Yours, Mine and Ours: Stepfamily Finances Require Plenty of Planning
• Tax Tips to Consider as 2006 Winds Down

November 2006 [ click for pdf ]

• Thinking About an Indexed Annuity? Take the Time to Understand them First
• Planning the Maximum: Retirement Contribution Limits in 2006 and 2007
• Returning Military Need to Plan a Financial Re-entry to Everyday Life

October 2006 [ click for pdf ]

• 529 Primer: A Tax-Advantaged College Savings Option Just Got Better
• Get Ready for 401(k) Retirement Advice at Work, But Be Prepared to Ask Questions
• Felt the Pinch From Your Adjustable Rate Mortgage Yet? Be Ready for the Moment You Will

September 2006 [ click for pdf ]

• As Open Enrollment Approaches, Do a Benefit Checkup
• Rewind: If You Had the Time to Plan for a Sudden Serious Illness or Death in the Family, What Would You Do?
• How to Un-retire: Planning a Post-retirement Move Back to the Workplace

August 2006 [ click for pdf ]

• Giving While Living — The Buffett Way
• Financial Planning for a May-December Relationship
• Packing Your Kid Up for College? Teach Them Money 101 Before They Go

July 2006 [ click for pdf ]

• Conversion of an IRA to a Roth IRA Needs Careful Study
• Getting the Kids Involved in Saving for College
• Start a New Summer Tradition: the Mid-year Financial Checkup

June 2006 [ click for pdf ]

• ARMs: Adjustable Rate Mortgages
• Fighting High Energy Costs
• Sending Freshman off to College the Right Way

May 2006 [ click for pdf ]

• Dream Big: Financial Planning For Unexpected Wealth
• Losing Your Inheritance to Uncle Sam- or Others
• The Pros and Cons of Reverse Mortgages

April 2006 [ click for pdf ]

• Can You Afford to Live With a Pet? Plan Before You Purchase or Adopt.
• Is a Geriatric Care Manager Right for You or a Loved One?
• As Rates Rise, Tapping Home Equity Gets Riskier- How to Recover.

March 2006 [ click for pdf ]

• The Basics of Health Savings Accounts
• When 'Fun' Gambling Becomes Problem Gambling
• Smart Ways to Refinance

February 2006 [ click for pdf ]

• How to Plan Your Dream Vacation Without Ignoring Your Financial Goals
• Top Ways You Can Prevent Identity Theft
• Financial Planning for Newlyweds- and Those Marrying Again

January 2006 [ click for pdf ]

• Making the Right Money Resolutions Can Lead to a Much Healthier, Happier 2006
• 8 Things You Should Know About Medicare Part D Prescription Drug Coverage
• More Audits This Year? Here's How to Protect Yourself.

December 2005 [ click for pdf ]

• Give Your Credit a Post-Holiday Checkup- and Save Money in 2006
• The Biggest Financial Mistakes People Make in a Divorce- and How to Avoid Making Them
• Taking Responsibility for Retirement: How Today's Scary Headlines Can Help Your Retirement Plan

November 2005 [ click for pdf ]

• Don't Wait Until Catastrophe Strikes to Discuss Money Issues with Older Relatives
• Gear Up for Last Minute Tax Savings- Katrina and Otherwise
• Your First Year of Retirement- Do You Know How Much You Will Be Able to Spend?
• Katrina's Tax Effect- The Latest Changes

September 2005 [ click for pdf ]

• Disaster Preparedness Makes Sense for Finances, Too.
• Becoming Your Own Health Care Cost Advocate
• New Roth 401(k)s Call for a Full Review of Individuals' Retirement and Tax Picture

June 2005 [ click for pdf ]

• Follow This Financial Planning Starter Kit
• Financial Planning For Grandparents Raising Grandchildren
• Phasing Into Retirement

May 2005 [ click for pdf ]

• How to Make Your Own Healthcare Decisions When You Can't
• Ways to Avoid Filing For Bankruptcy
• Company Stock: How Much is Too Much?

March 2005 [ click for pdf ]

• New Automatic Rollover Rules Help Out Lax Retirement Savers
• The Benefits of a Comprehensive Long-Term Financial Planning Relationship
• Saved By The Bell: Consolidating College Loans

February 2005 [ click for pdf ]

• How, and Why To Save More Money
• What You Can Do if Your Pension Plan is Shaky
• To Choose or Not to Choose: New Sales-Tax Reduction Takes Planning

January 2005 [ click for pdf ]

• How The Young Can Whittle Down Debt
• 8 Financial Keys To A Happier New Year
• How to Make Your 401(k) Account Work Like a Pension Plan