Personal Finance - North Light Financial Services

Social Security: Myths vs. Facts

Social Security: Myths vs. Facts Dispelling some misperceptions about the program. Some myths & misperceptions keep circulating about Social Security. These are worth dispelling, as more and more baby boomers are becoming eligible for their retirement benefits. Myth #1: Social Security will go away before you do. The federal government has announced that Social Security may become insolvent between 2033 and 2037 if no action is taken – but it is practically a given that Congress will act on the [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:14-04:00October 10th, 2016|Personal Finance, Social Security|Comments Off

Think About Your Lifestyle Before You Retire

Think About Your Lifestyle Before You Retire Sometimes planning for retirement isn’t entirely about money. How many words have been written about retirement? It’s a preoccupation for many, and we devote so much time, thought, and energy toward saving for the last day we go to work. Saving and investing in such a way that we no longer have to work may seem ideal at first, but it raises a question: what do you have planned for all of that [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:14-04:00October 6th, 2016|Personal Finance, Retirement|Comments Off

Getting Your Financial Paperwork in Good Order

Getting Your Financial Paperwork in Good Order Help make things easier for your loved ones when you leave this world. Who wants to leave this world with their financial affairs in good order? We all do, right? None of us wants to leave a collection of financial mysteries for our spouse or our children to solve. What we want and what we do can differ, however. Many heirs spend days, weeks, or months searching for a decedent’s financial and legal [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:14-04:00July 21st, 2016|Financial Fitness, Personal Finance|Comments Off

Tell Your Beneficiaries About Your Accounts and Policies

Tell Your Beneficiaries About Your Accounts and Policies Let them know how they will receive retirement assets and insurance benefits. Will your heirs receive a fair share of your wealth? Will your invested assets go where you want them to when you die? If you have a proper will or estate plan in place, you will likely answer “yes” to both of those questions. The beneficiary forms you filled out years ago for your IRA, your workplace retirement plan, and [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:15-04:00May 12th, 2016|Estate Planning, Financial Fitness, Personal Finance|Comments Off

College Funding Options

College Funding Options You can plan to meet the costs through a variety of methods. How can you cover your child’s future college costs? Saving early (and often) may be the key for most families. Here are some college savings vehicles to consider. 529 plans. Offered by states and some educational institutions, these plans let you save up to $14,000 per year for your child’s college costs without having to file an IRS gift tax return. A married couple can [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:16-04:00April 8th, 2016|College Savings, Personal Finance, Savings and Investing|Comments Off