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Make Your Dollar Travel Further This Summer

Make Your Dollar Travel Further This Summer

Summer Vacations Are perfect for hitting the road and having an adventure or staying closer to home and simply recharging. The slower pace and rest a vacation offers are priceless, but that doesn’t mean you should relax your financial vigilance. Here are some ideas to help you get the most for your money as you travel this summer. Consider off-season tropical destinations During the winter months, tropical hot spots command top dollar. But if you’re not averse to hot and humid weather, there are bargains...

Five Financial Lessons to Pass on to Your Children

Financial Lessons for your Kids

ABC's of Money One of the greatest lessons you can pass on to your children is teaching them how to budget, save and spend wisely. After all, being financially astute is very important to navigating through life. Grounding your children in some basic money values concepts is a good place to start. Consider using these five points as the basis for your conversation: 1. Money isn’t free – you have to earn it Many of us grew up with the saying, “money doesn’t grow on trees,”...

3 Ways to Simplify Your Financial Life

3 Ways to simplify your financial life

Simpler is Better When life gets busy it’s easy to become more passive about managing your bank accounts and credit cards by letting receipts, bills and statements pile up. Even if you regularly keep up with your finances, it can be beneficial to take a fresh look at them. Simplify your financial life with these three strategies. 1. Go paperless It’s easier than ever to access financial documents online. Choosing paperless convenience will not only make your life more efficient and clutter-free, it’s also...

Four Financial Questions Many Newlyweds Ask

Four Financial Questions Many Newlyweds Ask

What Now? Soon after the wedding is over – and the chaos of planning had subsided – many newlyweds start asking themselves questions related to their financial situation. Should we buy a home? Should we merge accounts? Who pays the electric bill? How much should we be saving for a rainy day? Can we afford to take a trip? It’s smart for newlyweds to take some time to focus on establishing their new financial lives together. Here are the answers to four common...

What Falling Oil Prices and a Rising Dollar Mean for You

What a Rising Dollar Means to You

Two of the most notable economic developments of recent months are the dramatic decline in oil prices and the resurgence in the value of the U.S. dollar against other currencies. Both have an economic impact, which could translate to an investment impact as well. Let’s consider how these two trends might affect the investment markets. Cheaper oil – the pluses and minuses The price for a barrel of light crude oil on the New York Mercantile Exchange dropped from $107.30 on June...

Reinventing Yourself in Retirement

Reinventing Yourself in Retirement

Retirement offers people a great opportunity to start something new. In addition, life expectancy trends indicate that an increasing number of baby boomers should be prepared for a long life in retirement. While this is good news, it also creates a few things to think about: Financial resources may need to extend for a retirement that could last two-to-three decades or longer Healthy, vibrant individuals may not be prepared to “shut down” and enter into a traditional retirement In light of these dual considerations,...

Financial Checklist for Your 20’s

Derek R. Munchow, CFP®, CRPC®, AAMS®, is a Financial Advisor with Ameriprise Financial Services, Inc. in Long Beach, CA. He specializes in fee-based financial planning and asset management strategies and has been in practice for 11 years. Ameriprise Financial and its representatives do not provide tax or legal advice. Consult your tax advisor or attorney regarding specific tax issues. Ameriprise Financial Services, Inc. Member FINRA and SIPC.

Getting an Early Start Your twenties can be the most eventful decade of your life. You may be a student, new to a full time job, a new renter or homeowner, married or single, a parent or even a small business owner. No matter what you’re experiencing, you’re likely rather new to managing your money. While no financial advice is the same for every situation, there are several common strategies that people in their 20s may want to embrace. Live within your means The...

So You Want to Start a Small Business?

Starting a small business is the american dream

American Dream The United States is home to millions of small businesses. While many thrive, there are certain risks and challenges that often accompany operating an independent company. If you’re thinking about starting a small business, keep these considerations in mind. Create a business plan When you’re fired up about an idea, it’s easy to overlook the details. A business plan forces you to define your business goals and how you plan to achieve them. It also helps you examine your competition...

Managing Your Taxes in 2015

2015 Tax Changes You Should Know

Important Changes There’s one thing you can count on as we kick off a new year – changes to the tax code. While there are few major new laws affecting taxpayers in 2015, it is important to understand how any adjustments to tax rules or your income might affect your tax liability. It is a critical aspect of your overall financial plan and can help you avoid any surprises when you file your 2015 tax return next year. Be aware that new laws can...

Financial Implications of Marriage for Same-Sex Couples

Financial Implications of Same Sex Marriage

Financial Equality The opportunity for same-sex couples to legally marry has expanded to 19 states and Washington D.C. with more likely on the horizon. The social and emotional benefits of living in a legally recognized union have been widely discussed. But what does legal marriage mean for your finances when you’re a same-sex couple? There are a number of immediate and long-term benefits. More Protection for Your Shared Assets With the repeal of section three of the Defense of Marriage Act (DOMA), certain federally mandated financial benefits...