Posts Tagged ‘financial planning’
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…
Read MoreTapping 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…
Read MoreSocial 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…
Read MoreInvestment 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…
Read More2018 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…
Read MorePros 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…
Read MoreDeciding What to Do with Your 401(k) Plan When You Change Jobs
When you change jobs, you need to decide what to do with the money in your 401(k) plan. Should you leave it where it is, or take it with you? Should you roll the money over into an IRA or into your new employer’s retirement plan? As you consider your options, keep in mind that…
Read MoreToday 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…
Read More2018 Retirement Plan Contribution Limit Increases
The beginning of the New Year brings increases to the contribution limits for 401k, 403b, and 457 plans. You can now contribute up to $18,500. This is an increase of $500 from 2017. Additionally, if you are over the age of 50, the catch up contribution of $6,000 per year is still allowable which means…
Read MoreWhat You Need to Know About Student Loan Debt
Student loan debt. Three words that strike fear into new graduates and parents everywhere. There are ways, however, to make the repayment of student loans more manageable. You may be surprised to learn that Income Driven Repayment Plans (IDR Plans) and loan forgiveness opportunities were created with you in mind. The only problem? You must…
Read More