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Social-Security-Myth-Busters-Edition

Social Security: Myth Busters Edition

Social Security: Myth Busters Edition No matter how many times some myths are debunked, we may still believe them. For example, cracking your knuckles causes arthritis (still possibly annoying but not true), humans swallow eight spiders a year in their sleep (gross and thankfully not true) and twinkies have no expiration date and would survive

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You Got a Bonus – Now What - BRIANNE SOSCIA - Financial Yogi

You Got a Bonus – Now What?

You Got a Bonus – Now What? It’s finally time! You’ve worked hard all year, put in lots of hours, and now it’s time to receive your much deserved bonus. While it’s exciting seeing more money in your bank account, have you ever wondered “what do I do with it now?” If you’re like most

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To-Roth,-Or-Not-To-Roth

To Roth, or Not to Roth, That is the Question

To Roth, or Not to Roth, That is the Question Summary: Traditional IRA contributions may be income tax deductible and have tax-deferred growth potential Roth IRA contributions are made after-tax and potentially grow tax free Your current and future income tax rates are a consideration when deciding between traditional and Roth IRA contributions When Shakespeare

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First Time Homebuyer Programs

First Time Homebuyer Programs First Time Homebuyer? – These Programs Are for You June 1, 2021  Do you fantasize about one day owning a home but don’t think you’ll ever be able to afford it? Do you wonder how you’ll ever come up with the down payment needed to purchase a home or how you’ll

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Best Practices for Data Security

Best Practices for Data Security One of my all-time favorite movies is Mel Brooks’ classic 1980’s Star Wars inspired spoof: “Spaceballs.” Other than being hilarious,  it can teach us some life lessons. For example, never underestimate the power of the Schwartz, buckle your seat belt before going to ludicrous speed, and absolutely do not hit

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Budgeting: The Nose Game

Budgeting: The Nose Game Budgeting: The Nose Game September 1, 2020 A budget is a tool for allocating your income; budgeting can be helpful in meeting short and long-term goals Get started by determining after-tax income and how income can be allocated Track spending and savings on an ongoing basis to determine if you are

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Happy Finances = Happy Marriage

HAPPY FINANCES = HAPPY MARRIAGE It’s supposed to be the happiest time of your life! You just got engaged and are now planning your dream wedding. No one wants to come off that high to have that awkward talk about their finances. BUT YOU NEED TO!! Did you know that one of the biggest reasons

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Mid Year Money Tips

MID YEAR MONEY TIPS Mid-year, is a great time to do a financial check in with yourself, to see where you currently stand with your finances, how much progress you have made since the beginning of the year, and how far you have to go to reach your annual financial goals by the end of

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The Awesome Power of Compound Interest

THE AWESOME POWER OF COMPOUND INTEREST Summary: Compound interest is interest earned on interest Compound interest may play an important role in meeting long term goals Time is an important component when thinking about compound interest The rule of 72 is a shortcut in calculating how long it takes for an investment to double in

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National 529 College Savings Plan Day

NATIONAL 529 COLLEGE SAVINGS PLAN DAY Today, I’ll be discussing the details of a 529 College Savings Plan…what they are, and how they work. It’s no secret that college is expensive. With student loan debt exceeding $1.5 trillion and the university price tag rising 8 times as fast as wages are, there’s a lot to

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Inheritance: You have Money, Now What?

YOU HAVE MONEY, NOW WHAT? INHERITANCE Today, I’d like to discuss a topic that I have helped many of my clients with: what to do if you receive an inheritance.  Generally, I advise my clients not to include POSSIBLE inheritances as part of their overall financial plan, because you just never know what may happen,

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Backdoor Roth: Not So “Hush-Hush”

BACKDOOR ROTH: NOT SO “HUSH-HUSH“ Summary: If modified adjusted gross income (MAGI) is too high to make direct Roth IRA contributions, backdoor Roth contributions can be made  Pro-rata taxation of pre-tax IRA assets applies when implementing backdoor Roth  Backdoor Roth contributions may be optimal once other retirement savings options (i.e. 401k’s and/or HSA’s) have been

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Divorce

DIVORCE Today, I’m talking about a topic that can be one of the most difficult times in your financial life: going through a divorce.   Not only is divorce an extremely emotionally stressful time, it is often a huge financial stressor as well.  You will be forced to make decisions that are likely to impact

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Money Team

Money Team Today, I would like to discuss three key players who are important to have in your corner when it comes to helping you with your financial affairs.  I like to call them “Your Money Team”. They are a: Financial Advisor/Certified Financial Planner CPA/Tax Advisor Estate Planning Attorney   1 – A Financial Advisor/Planner:

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Know Your Number: Net Worth

Net Worth Today we are going to talk about Knowing Your Number, or your net worth.   Your net worth is simply everything you own minus what you owe. And although the concept is pretty simple, a lot of people don’t take the time to fully understand where they are financially.  And let’s be honest, we

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Talking to your Spouse about Finances

TALKING TO YOUR SPOUSE ABOUT FINANCES Today I’m diving into the details of something many of us find difficult-talking to your partner or spouse about money matters.   If you have a spouse or partner, it’s very important to communicate with that person about your financial situation.     Even the strongest couples can have miscommunication

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Short vs Long Term Investing

SHORT VS LONG TERM INVESTING Today we are going to discuss one way to minimize risk when we invest: by  short and long term investing. Being invested properly is an important component to having a sound financial plan, part of being invested correctly includes making sure that the amount of risk you take matches your

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Multiple Streams of Income: Pros and Cons

MULTIPLE STREAMS OF INCOME: PROS AND CONS As a financial planner, I am constantly explaining the benefits of diversifying investments to my clients.  In finance, diversification is a way to reduce your exposure to risk by investing in a wide variety of different asset types.  But what about diversifying your income streams as well? What

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Investment Accounts | Part 2: Roth IRA

ROTH IRA (INDIVIDUAL RETIREMENT ACCOUNT) Today we are going to talk about Roth IRAs. If you remember from last week, an IRA stands for Individual Retirement Account, and you can open an IRA at a bank or financial institution. When you make contributions to a Roth IRA, you are contributing with after tax money, and

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Saving Automatically

Saving Automatically You may or may not know that February 24-29th is America Saves Week. America Saves Week began in 2007, and it’s an annual call to action to encourage Americans to commit to saving successfully.  Each day of the week has a different theme, such as: saving automatically, saving with a plan, saving to

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Triangle Pose

TRIANGLE POSE Ever since I was a young girl, three has always been my favorite number.  Its symbolism appears quite frequently in religion, fairy tales, mythology, and literature.  Even yoga contains the trinity of mind, body, and spirit. Trikonasana is one of the fundamental poses in yoga, and it is meant to bring the mind,

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Chair Pose-Utkatasana

CHAIR POSE-UTKATASANA In English, we call Utkatasana, chair pose, because it looks as if we are sitting back in an imaginary chair. And while we tend to think of sitting down in a chair as taking a load off, sitting back in an imaginary chair is harder than it appears. In Sanskrit, Utkatasana doesn’t actually

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Warrior

WARRIOR Warrior Pose (Virabhadrasana) If you’ve ever attended a yoga class before, then it’s very likely you’ve stood in Warrior Pose. It’s one of the most common postures practiced in traditional yoga, today. Translated from Sanskrit, Virabhadrasana literally means “Hero Friend” pose. Virabhadra was a fierce warrior who saved the day in an ancient mythological

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Downward Facing Dog

DOWNWARD FACING DOG Buy Low, Sell High! One of the most time-honored pieces of financial market advice is to “buy low and sell high.”  This means that we want to buy into investments at low prices, and then sell them at higher prices so that we can realize a profit.  Makes simple sense, right?  Yet,

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No Mud, No Lotus

NO MUD, NO LOTUS Money Messages from the Mat (Part One) Welcome to the first digest of the “Money Messages from the Mat” series.  Over the next several weeks, I’ll be taking one yoga pose at a time, and showing you how to apply the lessons we learn from these postures, out into the real

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