The fate of our Medicare and Social Security benefits are back in the news with the program’s annual report released June 5th. The news isn’t great but a crisis can be avoided. WHAT IS THE STATUS OF THESE GOVERNMENT PROGRAMS? Medicare’s finances were downgraded: the Medicare insurance fund will be depleted in 2026, earlier
Interest rates are an important part of everyone’s lives! Following the 2008 financial crisis, the Federal Reserve (“the Fed”) began to gradually increase key interest rates in December 2015 from a record low of near zero. The expectation is that the Fed will continue raising rates in 2018 and 2019 (See Fed Chart.) On the
Han Solo is back on the big screen this summer but here on the small screen, our moneyman Paul Fain has FIVE Star Wars lessons for becoming a Financial Planning Jedi. I GUESS WE HAVE START WITH…“MAY THE FORCE BE WITH YOU” Exactly! The Force encompasses everything. Likewise, a good financial plan is HOLISTIC,
Featured in the Knoxville News Sentinel: May 29, 2018 How much is enough? Obviously, it is a subjective question. Enough to just get by? Or enough to be “comfortable?” According to a 2017 Charles Schwab survey, respondents said they would be financially comfortable with $1.1 million. But really, when it comes to personal financial planning,
On Memorial Day we honored the fallen heroes that have served and sacrificed for our country. How was our economy influenced by military conflict? STARTING WITH WORLD WAR II (1941-45), HOW DID IT IMPACT OUR ECONOMY AND AMERICAN FAMILIES? World War II pulled us out of the Great Depression. American industry was revitalized by
It is wedding season! Along with marital bliss, get out your checkbook, just ask the Royal Family! SO INQUIRING MINDS WANT TO KNOW, THE ROYAL WEDDING RIVETED THE WORLD, WHAT DID IT COST? The royal wedding of Prince Harry and Meghan Markle cost an estimated $45….million. Security: $40+ million Wedding dress: $430,000 Wedding cake:
Often balancing employment, kids, spouse, and maintaining a household, moms are exhausted! Each year Salary.com estimates the monetary value of being a mom. Certified Financial Planner Paul Fain joined WBIR to explain the Mother’s Day Index 2018. WHAT DOES SALARY.COM ESTIMATE AS A TYPICAL MOTHER’S EQUIVALENT WAGE? At least $112,962 based on a mom’s
ARE YOU ON TRACK? SAVING FOR RETIREMENT Would you believe that one in six Millennials has already saved $100,000? How much should YOU have saved to be ready for retirement? THAT FIGURE FOR MILLENNIALS IS SURPRISING… Some people in their 20s are strong savers! Lack of attention to wealth building is a national phenomenon:
Aging is a natural process but not without its challenges. Families need to prepare for expected and unexpected events. WHAT ARE SOME OF THE EXPECTED EVENTS AS WE AGE? Vision loss Hearing loss Mobility loss WHAT ARE SOME OF THE UNEXPECTED EVENTS THAT COULD OCCUR? Cognitive decline Stroke Heart These are often
Certified Financial Planner Paul Fain, recently polled his Facebook contacts: “During Financial Literacy Month, what financial topics interest you most?” The following is a sample of the responses: How do the new tax laws affect a self-employed person? Simpler tax filing (of Schedule C) Possible 20% deduction on Pass-Through Income When is