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.

Social Security

Social Security’s Uncertain Future: What You Should Know

ASK A FINANCIAL PLANNER   Social Security is a pay-as-you-go system, which means today’s workers are paying taxes for the benefits received by today’s retirees. However, demographic trends such as lower birth rates, higher retirement rates, and longer life spans are causing long-run fiscal challenges. There are simply not enough U.S. workers to support the… Read more »

Federal Government

Advancing Tax Proposals Put Corporations and High-Income Individuals in Spotlight

ASK A FINANCIAL PLANNER   On Saturday, September 25, 2021, the House Budget Committee voted to advance a $3.5 trillion spending package to the House floor for debate. The House Ways and Means Committee and the Joint Committee on Taxation had previously released summaries of proposed tax changes intended to help fund the spending package…. Read more »

Housing Market

Too Hot to Handle: What’s Ahead for the U.S. Housing Market?

ASK A FINANCIAL PLANNER   The U.S. housing market, already strong before the pandemic, has heated up to record levels in 2021. The Case-Shiller U.S. National Home Price Index, which measures home prices in 20 major metropolitan areas, reported a 12-month increase of 18.6% in June 2021, the largest year-over-year gain in data going back… Read more »

College Student

Positioning Your Income/Assets to Enhance Financial Aid Eligibility

ASK A FINANCIAL PLANNER   What Does it Mean to Enhance Your Financial Aid Eligibility? If you qualify for federal financial aid, there are a number of strategies you can try to implement to enhance the amount of aid your child will receive when you apply for financial aid. The idea is to lower your… Read more »

Student Financial Aid

Are There Any Assets Not Counted for Financial Aid Purposes?

ASK A FINANCIAL PLANNER Yes, assuming you are talking about federal financial aid. Under the federal government’s financial aid formula, four main types of assets are excluded from consideration when determining your child’s financial need: All retirement accounts (e.g., IRAs, 401(k)s, 403(b)s) Home equity in a primary residence Annuities Cash value life insurance These assets… Read more »

Financial Checkup

Mid-Year Is a Good Time for a Financial Checkup

ASK A FINANCIAL PLANNER The first half of 2021 is behind us. As life emerges from the pandemic to a “new normal,” a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path. Reassess Your Financial Goals… Read more »

Should I be concerned about inflation?

Should You Be Concerned About Inflation?

ASK A FINANCIAL PLANNER If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, the Consumer Price Index for All Urban Consumers (CPI-U), often called headline inflation, rose at an… Read more »

Student Loans

Federal Student Loan Interest Rates Set to Increase for 2021-2022

ASK A FINANCIAL PLANNER After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.1 The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note. The rates apply to new federal student… Read more »

Retirement

How Are Workers Preparing for Retirement?

ASK A FINANCIAL PLANNER In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement preparations do vary a bit by age group. Retirement Preparation Nearly three-quarters (72%) of workers say that… Read more »

Federal Student Loans

Federal Student Loans FAQ

ASK A FINANCIAL PLANNER   What Are Federal Student Loans? Federal student loans are loans established by the federal government and provided to students for college and graduate school. Who Can Get a Federal Student Loan? There are eligibility requirements for federal student loans. If you have any questions about eligibility, contact the financial aid… Read more »