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

Budget Check Up: Tax Time Is the Right Time

Budget Check Up: Tax Time Is the Right Time

Tax preparation may be the perfect time to give the household budget a check-up.

A Penny Saved is Two Pennies Earned

A Penny Saved is Two Pennies Earned

Here are some simple and inexpensive energy-saving tips that may help you save money.

Five Most Overlooked Tax Deductions

Five Most Overlooked Tax Deductions

Five overlooked tax deductions to help manage your tax bill.

 

Medicare vs. Medicaid

The terms Medicare and Medicaid sound similar but are two very different things. Learn the differences in this informative article.

What’s Your Investment IQ?

You make decisions for your portfolio, but how much do you really know about the products you buy? Try this quiz

The Lowdown on Those Free Credit Scores

What’s the deal with your yearly free credit report?

Five Most Overlooked Tax Deductions

Five overlooked tax deductions to help manage your tax bill.

A Taxing Story: Capital Gains and Losses

Understanding how capital gains are taxed may help you refine your investment strategies.

9 Facts About Retirement

Regardless of how you approach retirement, there are some things about it that might surprise you.

View all articles arrow

Inflation & Retirement

Estimate how much income may be needed at retirement to maintain your standard of living.

Tax Freedom Day

Assess how many days you'll work to pay your federal tax liability.

What Is the Dividend Yield?

This calculator helps determine your pre-tax and after-tax dividend yield on a particular stock.

My Retirement Savings

Estimate how long your retirement savings may last using various monthly cash flow rates.

What Is My Current Net Worth?

Use this calculator to estimate your net worth by adding up your assets and subtracting your liabilities.

Self-Employed Retirement Plans

Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP.

View all calculators arrow

Principles of Preserving Wealth

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

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.

An Inside Look at Retirement Living

A number of questions and concerns need to be addressed to help you better prepare for retirement living.

Investment Strategies for Retirement

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

Managing Your Lifestyle

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

View all presentations arrow

Should You Invest in Exchange Traded Funds?

There are hundreds of ETFs available. Should you invest in them?

Dreaming Up an Active Retirement

When you retire, how will you treat your next chapter?

Investments

You’ve made investments your whole life. Work with us to help make the most of them.

Jane Bond: Infiltrating the Market

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

The Long Run: Women and Retirement

For women, retirement strategy is a long race. It’s helpful to know the route.

The Power of Tax-Deferred Growth

Why are 401(k) plans, annuities, and IRAs so popular?

View all videos arrow