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and is compensated ONLY from the company's clients. No
commissions are taken on any products.
I sincerely enjoy meeting people and
getting to know them. The Gold Company strives to return calls promptly and takes a genuine interest in your needs. I work hard to personalize a
plan that best fits your needs, budget and future.
The Money Prof
Thursday, May 1 2014
Advice for Moms on Mother's DayMy advice this month is to become more proactive on family finances. Allocate a portion of your valuable time to learn and implement personal finance initiatives. This will pay off big in the long run. Studies have shown that families that have financial plans, not only have a higher probability of success, but also on a day-to-day basis feel that they are moving ahead and have less financial stress. Moms of all ages (you don't have to be a mom to do this) should first learn about the key financial issues for themselves. When the financially literate spouse dies, many times the surviving spouse is left totally in the dark and has to rely on outside help. It is important that Moms know at least the basics. Know enough so if someone gives you poor advice, you will know enough to say no.
The first thing is to be able to ask the right questions (and know the answers) relative to the key topics in personal finance. The following are some of the questions that will come up:
- How are the assets titled? Are they held jointly or individually. Assets held jointly are more easily accessible than asset s held in spouse t hat has passed. This is important to access cash and be able to liquidate assets in the future.
- What Is the value of the assets and how do I find these values? Investment and savings accounts and real estate are two of the most common assets.
- Bills - what are the monthly bills and how have the bill been paid (check, internet payments, etc.).
- What kind of insurance policies do we have? For example, life insurance, disability insurance, property and casualty insurance, long term care insurance. What are terms of these policies?
- Where do we stand with income taxes? Where is last year's (and this year's) 1040 forms? What do I need to know about paying income taxes?
- How much debt do we have? What are the terms of this debt? How do we pay the debt service?
- Do we have a will? Has it been updated? Are there any trust s that we set up?
- Do we have enough income on a monthly basis? What is our income? What are our total monthly expenses?
- Do we need any large sums of money in the next few years? (roof replacement, furnace replacement? College education for the kids?)
- Are we saving for retirement? How are we saving? How much are we saving?
- Moms get started on this today and you may be amazed as to the family's financial status.
The GOLD COMPANY will help you achieve financial well being.
Offering the following services:
- Investment Portfolio Assessment
- Portfolio Development
- Securities Portfolio Management
- Retirement Planning
- Insurance/Risk Management Review
- College Planning
- Real Estate
- Estate Planning
- Business Analysis