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Retirement Matters: There is No Magic Number
Clarity. It is the first scientific principle of modern goal setting theory as detailed by Dr. Edwin Locke, the Obi-Wan Kenobi in this area of study. It is about knowing exactly what you are trying to achieve and when. It is about specificity; about being able to measure a goal's outcome. With this in mind, it would seem that the same theory should apply to funding retirement, right? Wrong. When it comes to retirement, there is no magic number. There is simply no way for anyone to accurately predict the exact amount of retirement savings you need to achieve by an exact date in the future in order to ensure retirement happens exactly the way you want it to. The reason? Retirement planning is not an exact science. Here are some sobering...
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April Commentary: The New Landscape for Retirement Advice
Let me ask you a question. How many things do you know of that have not been updated since 1974? Your grandmother's house? Sure. Your favorite song? OK. But would you be surprised to know that until yesterday, the major legislation regarding retirement plans and investment advice had not been changed? Given the speed at which the Federal Government operates, it is probably not much of a surprise, but that does not change the impact of the first major regulatory changes to our industry in more than four decades. The issuing of this week's Notice of Proposed Rule Making (NPRM) by the Department of Labor (DOL) brought to fruition changes that were first proposed in 2010. The basic issue that the Obama Administration was trying to address...
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Why It's Important to Rollover Your Old 401(k)
This week, a long-time friend of mine announced that after 43 years, she was finally prepared to set sail on the next phase of her life and retire from the only company she has ever worked for. 43 years!!!! That is a lifetime, or more, for many who are reading this article right now. Think about this — in the time that my friend was with her company, we have had eight presidents, six economic recessions, and the median household income has doubled, TWICE, and then some. It seems almost impossible to imagine, doesn't it? But that was the way of the world for a long time. You find a job, you work there for your whole career, and you retire with a pension. In this regard, things have certainly changed. Nowadays, fewer than 7% of large...
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There's Still Time to Lower Your 2014 Taxes
By now, most of us have filed and forgotten about our 2014 tax returns. However, if you are one of the millions of Americans who is planning to file over these next two weeks, then there is still time to either bolster your return or lower the payment you will be making to Uncle Sam. The IRS allows individuals to make a prior-year contribution (in this case, 2014) to a traditional IRA, ROTH IRA, or both, prior to your tax return due date, not including extensions. For most of us, that is April 15th, which makes this an ideal time to give final consideration to saving a little bit of extra money for retirement. Your qualifications for this opportunity depend largely on your employment status, filing status and income. The deductibility...
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 Securities offered through American Portfolios Financial Services, Inc. Member FINRA/SIPC (FINRA/SIPC). American Portfolios Financial Services, Inc. and American Portfolios Advisors, Inc. are not affiliated with any other named business entities mentioned.

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