Posts Tagged ‘financial planning’

Final Chance to Undo a 2017 Roth IRA Conversion

If you converted a traditional IRA to a Roth IRA in 2017 and your Roth IRA has sustained losses, you may want to consider whether it makes sense to undo (recharacterize) your conversion. You have until October 15, 2018, to undo your 2017 conversion.* A recharacterization can help you avoid paying income tax on IRA…

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Getting Started: Establishing a Financial Safety Net

In times of crisis, you don’t want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you…

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Designing a Benefit Package for Your Small Business

One of the greatest benefits our clients have come to appreciate from us is the different shadow services we provide.  While serving as a financial and tax advisor we get to see both sides of our clients personal finances.  It helps us be better advisors.  Some of the shadow services we provide clients include calculating…

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Tapping the Equity in Your Home

Over time, the value of your home has grown and your mortgage balance has been reduced (or even eliminated). The equity (the property’s value minus any liens against it) you now have in your home is a reservoir of funding potential. You may decide to tap into it for various purposes, such as remodeling your home, paying…

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Social Security Retirement Benefits

Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program. How do you qualify for retirement benefits? When you work and pay Social Security taxes…

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Investment Planning: The Basics

Why do so many people never obtain the financial independence that they desire? Often it’s because they just don’t take that first step — getting started. Besides procrastination, other excuses people make are that investing is too risky, too complicated, too time consuming, and only for the rich. The fact is, there’s nothing complicated about…

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2018 Q1 Market Commentary

After starting the year where we left off in 2017 with the S&P 500 rising more than 7% in January, the market finally met some volatility that we haven’t seen in several quarters.  Inflation fears, higher interest rates, tariffs, privacy concerns and other issues finally took the buzz off of the tax cuts and made…

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Pros and Cons of a Big Tax Refund

Many people view their annual tax refund as a bonus or windfall to use as they wish.  This timely video encourages you to consider how you might use a tax refund to help better yourself financially – e.g., by paying down credit card debt or investing the money – rather than engaging in a splurge…

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Today is Valentine’s Day – February 14th 2018

HAPPY VALENTINE’S DAY – to you and all of your loved ones from all of us at Chesapeake Financial Advisors. Celebrate and embrace your life; no one will care as much about your journey in life as you  –  so share with us what that looks like so we can enjoy – along with you…

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