FPA Articles

These articles are produced by the Financial Planning Association, the membership organization for the financial planning community, and are provided by JFS Wealth Advisors, a local member of the FPA. 

  • Keeping Your Credit Score Healthy
    It doesn’t take much these days to damage a credit score. Before the recession, late payments and blasting through credit limits would take its toll. But, in the past year, Fair Isaac, the company that developed the algorithm that is the leading determinant of our scores, made an important change in its formula.
  • Some Annuities Offer a Way to Pay for Long-Term Care
    Current estimates from AARP put the annual cost of a private nursing home room at a national average of $78,000. As older Americans are still struggling to reassemble their retirement plans from the worst economic downturn in 70 years, relatively few are considering the potentially most devastating threat to their plans: the spiraling cost of long-term care.
  • The 4% Rule - What Is the Right Amount to Withdraw from Your Retirement Fund Each Year?
    With stagnant incomes and roller-coaster investment returns over the past decade, individuals on the brink of retirement might wonder what became of all those “rules of thumb” affecting how they handle their nest egg once they walk away from their jobs.
  • The Do's and Don'ts of Passing Down Vacation Property to Family
    A family vacation home is a place of fun, memories and refuge for generations of friends and relatives. When the matriarch or patriarch who bought the home dies, it’s not uncommon for the same family members to go to war over visitation rights and ownership of the property, which can be worth a significant sum.
  • The First Steps in Planning Home-Based Care for an Elderly Relative

    No one wants to see someone they love in a nursing home. That’s why many older Americans and their families would opt for home-based care whether it’s for a temporary illness or disability, or end-of-life.

  • Why It's Important to Take an Interest in Retirement Plan Fees Again...Or for the First Time
    As investors start cautiously peeking at their investment statements again, it’s a good idea to take a renewed interest in investment fees and sales charges they pay to their personal retirement plans as well as those at work.
  • A Family Mission Statement Can Help Any Family Manage Assets, Philanthropy and Direction
    A family doesn’t need a surname like Vanderbilt to benefit from a family mission statement. A mission statement is a collaborative document created by one or more generations of family, so standards and goals can be set for the handling of all family assets, including businesses and philanthropy in particular.
  • Feel Like Un-Retiring? How to Prepare
    Last October, the MetLife Mature Market Institute released a study that said the over-55 workforce will account for almost 93 percent of the net increase in the U.S.civilian labor force between 2006 and 2016. At the same time, MetLife reported that many American workers plan to stay on the job “at least” until age 69.
  • Planning for a Child's Private School Education
    Sending your child to private school is an expensive proposition. For most people, it’s made a little tougher by the fact that it’s necessary to save for a child’s college education at the same time. Some have the income that makes this easier, but for the rest, it’s necessary to create a pay-as-you-go system that will somehow make it all work.
  • How Much Term Life Insurance Should You Buy?
    You may have read that term life insurance rates are at historic lows and that now is the time to buy. It’s worth a quick primer on why life insurance is necessary and who should buy it before getting to specific amounts that individuals should own.
  • Ways to Analyze Charities and Give Smarter
    Despite the recession, Americans haven’t shut down much of their charitable giving. According to the Giving USA Foundation, U.S. charitable giving stood at $307.65 billion in 2008, down only 2 percent from the previous year.
     
    This year may not be an exception given the outpouring after the Haitian earthquake. But, if you’re going to give, give smart. It makes sense to develop a long-term giving strategy that dovetails with your current finances, your estate-planning strategy and your values.
  • Why 2010 is the Year You Should Pay Closer Attention to Your Estate Plan
    Estate planning is an essential part of anyone’s personal finances -- no matter how wealthy you are. But, even for those who have been diligent about planning for their spouses and heirs, this is a year when it may make particular sense to re-examine your strategy.
  • Downsizing Isn't All About Stuff: It Can Be a Smart Financial Move, Too
    Men and women tend to turn on the gas in the last 15-20 years of their working lives to make sure their retirement savings will be adequate to their needs. That’s why the idea of downsizing is a good one to start early. It’s also a good time for a financial check-up as well.
  • Helping Older Relatives Articulate Their Long-Term Care Wishes
    In the best of all situations, helping an older relative or a parent plan for long-term care and other end-of-life issues happens when they’re healthy and various options can be considered with adequate time to do so.
  • Love and Money: Is a Postnuptial Agreement Right for You and Your Spouse?
     A postnuptial agreement is a contract between spouses. It is similar to a prenuptial agreement except it is signed during marriage to protect assets in case of divorce or separation.
  • Should You Be a Borrower or Lender? The Return of the Personal Loan
    As lending requirements stay relatively tight for most consumers, the chance of borrowing outside the banking system from family or friends can be attractive. After all, it’s rare to see a parent or sibling demand a credit check or other lengthy documentation.
  • 10 Money Steps to Take When Someone in the Family is Facing a Serious Health Crisis

    A June 2009 article in the American Journal of Medicine reported that medical bills are behind more than 60 percent of U.S. personal bankruptcies, adding that more than 75 percent of these bankrupt families had health insurance but still were overwhelmed by their medical debts.

  • 10 Ways to Help Your Kid Build a Lifetime Emergency Fund
    One of the most effective financial tools you can give a child is an appreciation for an emergency fund and the advice on how to build it themselves.
  • How to Get 2010 Off to a Great Financial Start
    Plenty of people make resolutions to lose weight, get a new job or make other things happen in their personal life, but relatively few make solid resolutions about money. Make 2010 the year you’ll live a better life financially.
  • The Federal Death Tax Might Be Taking a Holiday, but Keep an Eye on Your State's Estate and Inheritance Tax Policy

    With the 24/7 rush to get health care reform legislation through the U.S. Senate in the waning days of 2009, Congress let the federal estate tax die for 2010 as planned by the Bush Administration back in 2001. That’s not expected to stay the case for long – many experts anticipate that Congress will re-apply exemption levels with retroactive legislation sometime this year to help tame rising deficits.
 
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