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Positioning Assets for Financial Aid

Sep 23, 2021 2:53:01 PM / by Jason Shaw posted in Financial Planning

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If you have a dependent that is planning to use financial aid for college, you might want to consider meeting with a financial advisor to create a plan for your assets ahead of time. Financial aid is mostly awarded based on need, so your assets could hinder your dependent’s ability to need-based financial aid.

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Medicare: The Basics of a Complex System

Sep 9, 2021 1:15:00 PM / by Jason Shaw posted in Financial Planning

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Medicare: What is it?

Medicare is a federal health insurance program for individuals 65 and older, or younger individuals with certain health disabilities. Medicare is made up of 4 individual parts covering different aspects of a person’s medical coverage that come with varying costs. The individual parts can be combined to meet your healthcare needs. Most doctors take Medicare, but it is not a guarantee, so if you want to stay with your doctor and you’re nearing 65 it is a good idea to check with your doctor.

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401(k): What is it and Why Should I Participate?

Aug 19, 2021 1:15:00 PM / by Jason Shaw posted in Financial Planning

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A 401(k) plan is a retirement plan offered by employers to provide retirement benefits for their employees. Employees have the option to defer receipt of some of their wages until retirement. The contributions are pre-tax and made by the employees, with taxes paid when they are withdrawn in retirement. Most employers that offer 401(k) plans will also match your contributions. If your employer does match 401(k) contributions, you should contribute even if you are only able to set aside a small percentage of your salary. Not taking part in a 401(k)-match program is essentially giving away “free” money.

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7 Steps to Successfully Completing the FAFSA

Jan 5, 2021 11:15:00 AM / by Jason Shaw posted in Financial Planning

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If your child is a college-bound senior, your family will want to fill out the Free Application for Federal Student Aid (FAFSA) as soon as possible. Even if you don’t plan to take out student loans or believe you will qualify for aid, a completed FAFSA is necessary to qualify for many scholarships, grants, and work-study programs. While the form has a reputation for being long and complicated, it’s undergone improvements in recent years, and the Department of Education estimates it now takes less than 30 minutes to complete. Follow these steps to ensure timely submission of your complete and accurate FAFSA.

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Should I Choose a High Deductible Health Plan?

Dec 8, 2020 11:15:00 AM / by Jason Shaw posted in Financial Planning

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It’s fall, and that means open enrollment time for workplace benefits as well as Affordable Care Act (ACA) coverage. When you’re reviewing your health plan options, don’t overlook the benefits of a high deductible health plan (HDHP).

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Now Is a Great Time to Meet with Your Advisor

Oct 6, 2020 2:15:00 PM / by Jason Shaw posted in Financial Planning, Investments

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The COVID-19 pandemic has created financial stresses for millions of Americans. In April 2020, a Harris Poll survey on behalf of Nationwide asked more than 2,000 adults in the U.S. about their COVID-related concerns. Overall, respondents’ top worries were being unable to pay their bills (45%), losing their life savings (33%), and losing employment (30%). Even those who enjoy more financial security are facing uncertainty. Among respondents with investable assets of more than $100,000, the top concerns were losing their life savings (41%) and inability to pay the bills (34%), afford healthcare (28%), or retire as planned (28%).

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7 Ways to Stay on Track with Your Retirement Plan

Sep 30, 2020 3:00:00 PM / by Jason Shaw posted in Financial Planning, Investments

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The COVID-19 pandemic has upended a lot of people’s financial plans. Losses in business revenue, stock value, and employment create a variety of bumps in the road to retirement. The steps you should take to protect your future depend on the assets you have available, how close you are to your target retirement age, and the current condition of your investment portfolio. Take a look at these seven ways you can take action to stay on track with your retirement plan.

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Steps You Can Take During a Turbulent Stock Market

Sep 28, 2020 1:45:00 PM / by Jason Shaw posted in Financial Planning, Investments

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When the stock market becomes turbulent, investors want to do something to protect themselves. The impulse to react is a natural human response when you perceive a threat, whether that threat is a charging grizzly bear or a crashing bear market. The key is to keep a cool head and make rational decisions about how to respond. In either situation, running in panic can increase your danger.

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Don't Panic About Your Investments

Sep 24, 2020 2:30:00 PM / by Jason Shaw posted in Financial Planning, Investments

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When you invest, it’s important to have a vision of your long-term goals, develop a strategy to meet those goals, and stick to it. For many of us, that becomes especially challenging during times of economic downturn. It can be gut-wrenching to watch the value of your holdings take a dive, but panicking and selling could leave you in a much worse position than riding out the storm.

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Managing My 401(k) Through COVID

Sep 22, 2020 1:15:00 PM / by Jason Shaw posted in Financial Planning, Investments

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The COVID-19 pandemic has wrought havoc on the economy, and many people’s 401(k)s are suffering as a result. What can you do to minimize the damage and give yourself the best possible chance of saving enough for your retirement? The answer partially depends on your age and whether you’re facing job loss during the current crisis.

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