Tag: Wealth Management

SESLOC Wealth Management is available through a partnership with CUSO Financial Services, L.P. (CFS) an Independent Broker-Dealer and SEC Registered Investment Advisor formed for the express purpose of serving Credit Union member’s investment and financial planning needs.

Can I pull funds from my IRA?

I Need Money: Can I Take Funds From my IRA?

ASK A FINANCIAL PLANNER Yes, but the taxable portion of your distribution may be subject to a 10% penalty for early withdrawal if you’re not yet age 59½. If you are 59½ or older and take money from your traditional IRA, you will not be assessed a penalty, though you may still have to pay… Read more »

Windfall

What Are Some Tips for Handling a Financial Windfall?

ASK A FINANCIAL PLANNER First, consider putting the money into a safe, liquid account such as a savings or money market account until you have time to take stock of your situation. Don’t spend or invest your windfall until you have a chance to: See a tax professional and analyze the tax-consequences — you may… Read more »

Payroll Tax Deferral

Temporary Payroll Tax Deferral: What You Need to Know

ASK A FINANCIAL PLANNER On August 8, 2020, the president issued an executive order to allow the deferral of certain payroll taxes during the last four months of 2020, and the IRS recently provided related guidance. This has implications for both employers and employees. Here’s a brief summary of the issues. Already-existing Payroll Tax Deferral… Read more »

The Bull is Back

The Bull Is Back… Will It Keep Charging?

ASK A FINANCIAL PLANNER On August 18, 2020, the S&P 500 set a record high for the first time since COVID-19 ushered in a bear market on February 19. The cycle from peak to peak was just 126 trading days, the fastest recovery in the history of the index, erasing losses from an equally historic… Read more »

Financial Planning Issues for New Parents

Financial Planning Issues for New Parents

ASK A FINANCIAL PLANNER As you prepare for life with your new child, it’s time to prepare a new financial plan for your family or make any necessary changes to your existing plan. You’ll want to consider how your baby will affect your budget, make sure you have adequate insurance, protect your child’s future with… Read more »

IRS Clarifies COVID-19 Relief Measures for Retirement Savers

IRS Clarifies COVID-19 Relief Measures for Retirement Savers

ASK A FINANCIAL PLANNER The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA and retirement plan account holders cope with the financial fallout from the virus. The rules were welcome relief to many people, but left questions about the details unanswered. In late… Read more »

5 Questions About Long-Term Care

5 Questions About Long-Term Care

ASK A FINANCIAL PLANNER 1. What is Long-Term Care? Long-term care refers to the ongoing services and support needed by people who have chronic health conditions or disabilities. There are three levels of long-term care: Skilled care: Generally round-the-clock care that’s given by professional health care providers such as nurses, therapists, or aides under a… Read more »

Coping with Market Volatility

Coping With Market Volatility: Be Sure to Use Appropriate Benchmarks

ASK A FINANCIAL PLANNER Do you find yourself glued to the daily news reports on market movements wondering about your own savings and investments? Before you make any hasty decisions, be sure you understand how these reports relate — or don’t relate — to your individual portfolio. The variance in the returns of different portfolios… Read more »

Investment Biases

How Do Biases Affect Investment Decisions?

ASK A FINANCIAL PLANNER When it comes to your finances, “go with your gut” might not be the wisest adage to follow. In fact, it may work against you, particularly in periods of market turbulence. Before jumping to conclusions about your finances, consider what biases may be at work beneath your conscious radar. Recency bias… Read more »

Relief for Student Aid

Federal Student Loan Borrowers Get Expanded Relief in CARES Act

On March 27, 2020, Congress passed the CARES Act, the largest economic stimulus bill in the history of the United States, in response to the coronavirus pandemic.1 Included in the legislation are new rules for student loan relief that supersede the rules that were announced only a week earlier by the Department of Education. For more… Read more »