Despite rising mortgage rates, real estate prices in Florida continue to climb, leaving many Florida homeowners feeling trapped in their current homes. As real estate prices increase, so do property taxes. However, homeowners can mitigate this through the Homestead Exemption. This article explains how the Homestead Exemption works, how property taxes are calculated, and the…
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Understanding the Federal gift tax is essential for sound financial planning. This article aims to explain key concepts, debunk some common misconceptions, and outline some practical strategies for those who wish to incorporate gifting into their financial plan. A gift is a transfer of property. The IRS considers a gift to be any transfer of cash…
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Deciding to retire during market volatility can be a tough call. Do you stick it out for another year, or take the plunge? Even with a well-diversified global portfolio, the timing of retirement can expose an investor to “sequence of return risk,” which is the risk that a market downturn will occur early in retirement. When a…
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The debt ceiling debate is dominating the headlines. In a nutshell, the debt ceiling is a limit that is set by the U.S. Congress on the total amount of debt that the Federal government is legally allowed to borrow. Since the 1960’s, the debt ceiling has been raised a total of 78 times. There have been…
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Earlier this month, the U.S. Bureau of Labor Statistics announced that the Consumer Price Index (CPI) for All Urban Consumers had risen 8.5% for the 12-month period ending March 31, 2022. This marked the fourth consecutive month where the annual CPI rate was 7% or more. When it comes to the reality of higher inflation,…
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Florida residents can file for a homestead exemption on their primary residence as a means to reduce property taxes. What is the Florida Homestead Exemption? By filing for the Homestead Exemption, it can result in exempting up to $50,000 of your home’s assessed value from property tax liability. The first $25,000 of the home’s assessed…
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On August 31, 2021, the Social Security Board of Trustees released its annual report, which included the latest projection for the Old-Age and Survivors Insurance (OASI) Trust Fund. According to the report, if Congress does not act, the fund is projected to become depleted by 2033, a year sooner than the estimate provided in 2020.…
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The annual change in the Consumer Price Index “CPI” exceeded more than 5% for the second month in a row, raising concern that we may be entering an inflationary period. How concerned should investors be? Before we get into that, we should begin with a short primer on what inflation is. Inflation refers to an…
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A question we have been asked repeatedly over the last six months has been: what is the best strategy to get into the market with new money? Invest all of it at once? Or invest in smaller increments over time through dollar-cost averaging? The most important thing to keep in mind is that the decision…
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As we approach the end of the year, it is prudent to review your situation and make sure that you have taken advantage of all that you can from a financial planning standpoint before December 31st, as well as be sure you are positioned well for the year ahead. With that in mind, here are…
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