Broker Check

1343 Main Street, Suite 304
Sarasota, FL 34236

Don Furlong, CLU®, CFP®

(941) 893-1777

 
Estate Management 101 What Can a Million Dollars Buy You?

SOME INTERESTING  FACTS:

“According to FINRA (Financial Industry Regulatory Authority) 30 percent of employed Americans earned money from work outside of their main employment.”  But here’s the surprise about that.  “They found the wealthier and more educated people were more likely to have side jobs.” (Journal of Financial Planning, Jan. 2020) 

And, how about this one.  “The JP Morgan Chase Institute found that ‘liquidity’ is a more useful predictor of mortgage default than home equity.”  And what do mortgage lenders focus on; equity down payment.  “Allowing borrowers to maintain the money in their bank instead of using it for a down payment helped them pay their mortgages and keep their loans in good standing.   (Duh!) Borrowers who had savings equivalent to less than one monthly payment… defaulted five times more frequently than those with three to four months of mortgage payments in savings.”  (Journal of Financial Planning, Jan. 2020)

No wonder your financial planner bugs you so much about having an emergency fund.                                   

Those COVID-19 stimulus checks could start showing up any day now.  (Coronavirus Aid Relief and Economic Security, or CARES Act).  If your joint income was under $198,00 (or $99,000 for a single), you could soon receive a payment of as much as $1,200 per person ($500 per child) in your family.  For those with incomes over $150,000 ($75,000 single) the checks are reduced by $5 for every $100 your income exceeds the lower limit.

Checks are slated to begin mailing out (or direct deposited) by April 24, based on income level.  The lowest income individuals receive their payments first, with the top income level being paid as late as Sept. 4th.  (Rocky Mengle - Kiplinger, April 3rd, 2020)

A final note:  Student loan debt has now exceeded $1.6 trillion in the U.S.  Clearly we have a crisis.  If you don’t have a use for that stimulus check, you might think about contributing it to a 529 College Savings Plan for your kids or grandkids who are wondering how they will finance a college education when their time comes.  You can call me for more information on that.

Helpful Content

The Business Cycle

The Business Cycle

How will you weather the ups and downs of the business cycle?

Will Power

Will Power

Preparing for the eventual distribution of your assets may not sound enticing. But a will puts the power in your hands.

A Cheat Sheet for Sending Your Kid to College

A Cheat Sheet for Sending Your Kid to College

Dropping off your son or daughter is loaded with emotions; here are a few tips for a smoother experience.

 

Money Draining Food Myths

These food myths will really put a drain on your wallet.

Lots of Variables with Fixed-Rate Mortgages

When selecting a fixed-rate mortgage, a borrower has to determine how many years to finance the loan.

Red Flags for Tax Auditors

Here are six flags that may make your tax return prime for an IRS audit.

Countering Counterfeit Currency

Combating counterfeiting remains core to preserving the integrity of the nation’s money.

The Utility of Sector Investing

Successful sector investing is dependent upon an accurate analysis about when to rotate in and out.

Test Your Estate Strategy Knowledge

Estate management can help ensure that your assets are transferred according to your wishes while managing tax issues.

View all articles arrow

Taxable vs. Tax-Deferred Savings

Use this calculator to compare the future value of investments with different tax consequences.

Impact of Taxes and Inflation

Estimate the potential impact taxes and inflation can have on the purchasing power of an investment.

Contributing to an IRA?

Determine if you are eligible to contribute to a traditional or Roth IRA.

How Compound Interest Works

Use this calculator to better see the potential impact of compound interest on an asset.

Capital Gains Tax Estimator

Use this calculator to estimate your capital gains tax.

Saving for College

This calculator can help you estimate how much you should be saving for college.

View all calculators arrow

Managing Your Lifestyle

Using smart management to get more of what you want and free up assets to invest.

Investment Strategies for Retirement

Investment tools and strategies that can enable you to pursue your retirement goals.

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

5 Smart Investing Principles

Principles that can help create a portfolio designed to pursue investment goals.

5 Smart Investing Strategies

There are some smart strategies that may help you pursue your investment objectives

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.

View all presentations arrow

When Do You Need a Will?

When do you need a will? The answer is easy: Right Now.

The Cost of Procrastination

Procrastination can be costly. When you get a late start, it may be difficult to make up for lost time.

Safeguard Your Digital Estate

If you died, what would happen to your email archives, social profiles and online accounts?

Inflation and Your Portfolio

Even low inflation rates can pose a threat to investment returns.

Jane Bond: Infiltrating the Market

Agent Jane Bond is on the case, cracking the code on bonds.

The Power of Compound Interest

Learn how to harness the power of compound interest for your investments.

View all videos arrow