Do you have a financial plan? What is a financial plan? We can tell you what is not a financial plan… A plan is not a: a portfolio an asset allocation a personal financial statement a budget a savings account an employer retirement plan If you are accumulating money for a … [Read more...]
Windward Passages: This Is Not A Financial Plan!
Windward Tax Bulletin: Tax Benefits of Home Ownership
In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence. Many of the tax benefits associated with home ownership apply mainly to your … [Read more...]
Windward Community: A Favorite Spot of Ours
Can you guess which town just outside Kansas City was originally a steamboat landing? That was formally platted by Colonel George S. Park? That features quaint shopping, dining and a historic downtown? And a charming university? Still guessing? If you haven’t been to the small town of … [Read more...]
Windward Passages: Maintaining Your Financial Records – The Importance of Being Organized
An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document--and you'll need … [Read more...]
Windward Tax Bulletin: Choosing a Beneficiary for your IRA or 401(k)
Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate tax laws in order to select the right beneficiaries. Although taxes shouldn't be the sole … [Read more...]