David Fulton-Financial Planner

“In one study of re­tire­ment savers, 68 out of every 100 said they weren’t sav­ing enough, 24 of the 68 said they planned to in­crease their con­tri­bu­tions to their 401(k) in the next few months, but only three of them did.”

Proof that inertia is a powerful force.

Good tips on how to breakthrough and take those long awaited steps to improve your financial life.

The Lazy Investor’s Guide to Getting Stuff Done Your investment inertia could be costing you thousands of dollars. Here’s how to break out of it.

A good reminder from WSJ now that the child tax credit is hitting many bank accounts. If you owed money last year during tax time or even got a nominal refund, this year may be different. Because you are receiving the credit early, you need to account for the loss of the credit at tax time and plan accordingly.

Your Child Tax Credit Payment Just Arrived. Are You Sure You Want It? https://buff.ly/2UmxpuT

Your Child Tax Credit Payment Just Arrived. Are You Sure You Want It? More than 35 million U.S. households are now getting monthly cash payments of their 2021 child tax credits. While the payments will help some families greatly, they could also bring unexpected tax bills next year.

Often people wonder what should I consider when reviewing my investments? Whether you are a novice or experienced investor, it is critical to review your investment portfolios as part of the financial planning process. Particularly during times of uncertainty and volatility, a portfolio review can help you evaluate and confirm your strategy, ensuring alignment with your financial goals. This checklist helps when reviewing your investment portfolio, and covers: Investment objectives, Time horizon and risk tolerance, Diversification and asset allocation, Tax management, including capital gains and the NIIT, Performance monitoring

What Issues Should I Consider When Reviewing My Investments? - Lodestar Financial Planning What issues should I consider when reviewing my investments?

Estate planning is a critical aspect of the financial planning process. Reviewing your documents is an important exercise, both at the outset and throughout changes in your life. This can be a daunting task for those who may find the exercise tedious and, perhaps, confusing.

To help guide your document review, we have provided this checklist. It covers key considerations regarding the most common estate planning documents, including:
Wills, Living Trusts, Irrevocable Trusts, Powers of Attorney, Living Wills

What Issues Should I Consider When Reviewing My Estate Plan - Lodestar Financial Planning What-Issues-Should-I-Consider-When-Reviewing-My-Estate-Planning-Documents-2021

A bipartisan bill fixes a flaw in earlier legislation and would finally allow any veteran to allocate pension payments to a trust for their survivors with special needs.

Bill Would Allow All Military Retirees to Name Special Needs Trusts as Beneficiaries of Pension Plans (Survivor Benefit Plan) - Lodestar Financial Planning direct survivor benefit plan income to a special needs trust

When was the last time you had your Estate Plan reviewed? Many of you already have estate documents, probably executed many years ago. We strongly recommend that you have a qualified Estate Planning Attorney look over your documents every 2-3 years or so. Here are a dozen points to review.

12 Estate Planning Absolute Must-Dos - Lodestar Financial Planning When was the last time you had you had your Estate Plan reviewed or even conducted Estate Planning?

A trust is an instrument set up to hold the property of an individual, often called the grantor, for one or more designated beneficiaries. The following glossary provides a brief description of various types of trust options.

A Menu of 8 Important Trust Options - Lodestar Financial Planning The following glossary provides a brief description of various types of trust options.

New video for the website....check it out!

Lodestar Financial Planning We are Fee Only, Fiduciary, and Independent Most people have a questions on how to choose a Financial Advisor. If they seek out an Advisor who is Fee-only, a Fiduciary and Independent this will help ...

Thanks Olivia Nunn! This was a lot of fun! Hard to believe how fast a 25-minute conversation goes....we just scratched the surface!

https://usarmysoldierforlife.libsyn.com/s8e7-investing-101

The Soldier For Life Podcast: S8E7 Investing 101 Stocks, Bonds, 401K... do any of these terms leave you anxious? Listen to LTC Olivia Nunn speak with Army Veteran David Fulton, a Financial Planner, on what you need to know about investing. Investing is for everyone! Knowledge is power, and understanding the importance of investing can pay huge div...

“The best way not to be over­whelmed by fear dur­ing a bear mar­ket is to re­tain a trace of it in bull mar­kets, too.”

Timely reminder by Jason Zweig that strategy should drive your investing decisions and over exuberance is as dangerous as pessimism and fear when it comes to investing.

What Happens When Stocks Only Go Up Losing your fear of bear markets can lead to complacency—and new risks.

On February 18, 2021, the Internal Revenue Service announced greater flexibility to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Taxpayer Certainty and Disaster Tax Relief Act of 2020, these plans now have additional discretion in 2021 and 2022 to adjust their programs to help employees.

IRS Provides Needed Flexibility for Health FSA - Lodestar Financial Planning On February 18, 2021, the Internal Revenue Service announced greater flexibility to employee benefit plans offering health flexible spending arrangements(FSA)

Here are some answers to the most common questions you may have to field about trust taxation.

How Are Trusts Taxed? Here are some simple answers to the questions clients are most likely to ask.

Under the terms of the bill, future retirees who turn 62 in 2023 or later will be eligible for a new benefit formula called the Public Servant Protection (PSP) formula. This formula calculates benefit amounts based on the proportion of lifetime earnings covered by Social Security.

The bill maintains the current WEP exemptions (i.e., for individuals not receiving a pension, and for those with 30 years of coverage) and extends them to the PSP as well. In other words, people are exempt from both the PSP and the WEP if they have 30 or more years of coverage or if they do not receive any pension based on their state or local employment.

The bill also provides a benefit guarantee for all future retirees by ensuring that they receive the higher of either the PSP or WEP.

https://buff.ly/3dHi7GW

WEP Reform Legislation Reintroduced Legislation has been reintroduced to boost the retirement benefits of some federal retirees.

Annual financial reviews are important for keeping your plan on track. Today, unlike previous generations, you have so many investment options and access to an extensive array of financial information in the media and online. Almost instantaneously, you can review your own financial plan, ascertain your progress, and make necessary adjustments.

Most everyone gainfully employed has, formally or informally, a financial plan which should be regularly reviewed.

Regular Reviews with these 6 Steps to Build Your Financial Foundation - Lodestar Financial Planning Annual financial reviews are important for keeping your plan on track. Today, unlike previous generations, you have so many investment options and access to

When preparing for your retirement, think about how much income you may need each year to fund the lifestyle you want. To help maintain your living standard, you may need to save enough money to supplement other sources of retirement income, such as a company pension and/or Social Security. It is also important to be aware of how your age factors into your retirement decisions. Here are some essential age milestones to consider:

Social Security: Why are these 7 Ages like a Retirement Numbers Game? - Lodestar Financial Planning When preparing for your retirement, think about how much income you may need each year to fund the lifestyle you want. To help maintain your living standard,

On March 23rd, the massive, skyscraper-sized container ship named the Ever Given ran aground and got stuck in Egypt’s Suez Canal. It took about a week for more than a dozen tugboats, dredgers, engineers, salvage teams, and a full moon that brought an unusually high tide to free the behemoth.

While it’s still not clear exactly how it got stuck in the first place, experts theorize that the Ever Given lost control amidst strong winds and sandstorms. But the Ever Given’s management firm did rule out any mechanical or engine failure. Now some are suggesting that “technical or human errors” may have caused the ship to run aground, costing Egypt about $15 million a day in lost revenues.

The Ever Given, one of the largest container ships in the world, is 400 meters long (that’s over 1,300 feet), weighs 200,000 tonnes (a tonne is heavier than a ton by the way) and has the ability to carry over 20,000 shipping containers (it was carrying 18,300). It’s massive.

Do your aspirational retirement goals feel like the massive Ever Given? And are you a 40 or 50-year-old captain that is now stuck? Here is a basic list of must-dos to help unstick your retirement-ship so that you might see smoother sailing.

Is Your Retirement-Ship Stuck in the Suez Canal? - Lodestar Financial Planning Do your aspirational retirement goals feel like the massive Ever Given? And are you a 40 or 50-year-old captain that is now stuck? Here is a basic list of

While Tax Day has been extended, you should ask yourself whether there is any real benefit to waiting to file your taxes

The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes until May 17th, giving individuals and businesses another month to file and then pay the government what they owe.

Tax Day for Individuals is Extended to May 17th - Lodestar Financial Planning While Tax Day has been extended, you should ask yourself whether there is any real benefit to waiting to file your taxes

The general relationship between risk and reward is fairly straightforward over the long-term.
But picking the winners within the stock market will always be easier in the rearview mirror.

Four great charts here.....

https://awealthofcommonsense.com/2021/03/four-things-everyone-needs-to-know-about-the-markets/

Four Things Everyone Needs to Know About the Markets Four Things Everyone Needs to Know About the Markets Posted March 14, 2021 by Ben Carlson One of my favorite annual markets updates comes from The Credit Suisse Global Investment Returns Yearbook by Elroy Dimson, Paul Marsh and Mike Staunton. Every year it provides valuable insights or useful remind...

David Fulton-Financial Planner updated their info in the about section.

A majority of Americans understand the importance of estate planning, yet an alarming percentage of adults do not have arrangements in place. According to a 2019 survey, 51 percent of people believe having an estate plan is necessary, but only 40 percent have actually implemented one.1 If you’re a part of the majority of Americans who have put off facing the future of their finances after death, it might be time to start weighing your options. We’re offering helpful insights on what trusts are, who they benefit and why you may want to make them an integral part of your estate plan.

https://thinkfinance.io/0UzIVzSfP7

A Guide to Trusts for Estate Planning A majority of Americans understand the importance of estate planning, yet an alarming percentage of adults do not have arrangements in place. Accordin...

One of the major problems that occurs with planning for one’s passing and financial distribution is that people frequently leave the matter to the very last minute and then make rushed decisions with bad information. No surprise, common mistakes occur that are oftentimes very avoidable with a bit of planning and thinking a bit earlier.

https://thinkfinance.io/ieeQ3llcz8

Common Estate Planning Mistakes to Avoid One of the major problems that occurs with planning for one’s passing and financial distribution is that people frequently leave the matter to the ver...

https://thinkfinance.io/oQd3wDgqcY

[Infographic] Self-Directed IRA vs. Traditional IRA ...

The average annual healthcare expense per individual rises from roughly $2,000 for 19-year-olds to about $11,000 for retirees (age 65+).1 As Americans pay more for medical care, they often seek ways to save for emergencies. Health savings accounts (HSAs) and health reimbursement accounts (HRAs) can help.

https://thinkfinance.io/5F8TJ4nZ06

You’ll Spend Thousands on Healthcare This Year. Can an HSA or HRA Help? The average annual healthcare expense per individual rises from roughly $2,000 for 19-year-olds to about $11,000 for retirees (age 65+).1 As Americans...

You may think you need to choose a financial advisor in your local area, but there are a lot of reasons not to limit your choices. Here are some factors to consider first when weighing your options.

[Video] Does Your Financial Advisor Need to Be Local? The Answer May Surprise You Your money is personal, but does that mean you must work with a financial advisor face-to-face? In some cases, the answer may be a resounding yes. But...

https://thinkfinance.io/Bai83XPeJZ

[Infographic] Thinking of Refinancing Your Mortgage? Don't Forget These 6 Common Costs ...

If you’re injured and unable to work, will you still be able to make ends meet? Disability insurance is designed to help individuals who can no longer work (whether permanently or temporarily) due to surgery, illness or injury. Short- and long-term disability offer different lengths of coverage and will provide coverage for differing lengths of time.

https://thinkfinance.io/3NJqAhdKej

[Video] What's the Difference Between Short-Term & Long-Term Disability Insurance? If you're injured and unable to work, will you still be able to make ends meet? Disability insurance is designed to help individuals who can no longer...

Classic investments, like stocks, are not the only investments taxed by capital gains. Capital gains taxes can apply to any other property that acquires value over time. These taxes are calculated by subtracting the cost of the investment from the final selling price of said investment. This final amount is reported as capital gains. But, the final amount can be taxed at different rates depending on the investment type and total monetary gain.

https://thinkfinance.io/ijNg2sHwYN

Capital Gains & Your Taxes: A Brief (But Important!) Guide Classic investments, like stocks, are not the only investments taxed by capital gains. Capital gains taxes can apply to any other property that acquir...

https://thinkfinance.io/Jab2mPSa2v

[Infographic] What's My 2021 Tax Bracket? ...

Reaching retirement is exciting, but having enough to maximize your quality of life during retirement is key. You’ve likely heard of a backdoor Roth IRA, but for some looking to maximize their withdrawals in retirement, a mega backdoor Roth IRA may be the way to go.

https://thinkfinance.io/5-Ift73emN

Trying to Supersize Your Retirement Savings? A Mega Backdoor Roth IRA Conversation Could Come in Handy Reaching retirement is exciting, but having enough to maximize your quality of life during retirement is key. You’ve likely heard of a backdoor Roth I...