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WALSH & ASSOCIATES BLOG

We all know the feeling, looking at your bank account and thinking “where did my money go?”  In order to save money for whatever the future may hold you need to make a budget. Analyzing what and where you are spending your money can help create a clearer path to reaching your financial goals. Here are some steps and questions…
In today’s day and age, paying with cash is becoming increasingly rare. The alternative: Cards. How do we know when we should use a credit card or a debit card? Both options can have their strengths and weaknesses. Here are some things you should consider when pulling plastic cards out to pay. How Much Does it Cost to Use a…
Let’s face it – taxes aren’t fun and, although sometimes helpful, neither are the articles written about them. Now that the pressure of the 2017 tax season has come to an end, we thought we’d share something a little more lighthearted for our animal loving readers. What Deductions Can You Get From Your Pet? Do you have an animal that…
You’ve heard this cautionary tale before: a lucky soul inherits a new wealth – from the lottery, from family, from fame – only to squander it before their retirement. A sudden influx of wealth can be both an incredibly joyous and stressful experience. In fact, there’s even a stress-related disorder known as “Sudden Wealth Syndrome” that can come with newfound…
Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult. Notify others When your spouse dies, your first step should be to contact anyone who is close to you and your spouse,…
The Social Security Administration (SSA) recently released an internal audit1 that was conducted to determine if adequate efforts were made to inform widows and widowers of their option to claim survivor’s benefits. The results showed the answer was a resounding, “No.” The audit showed that a large majority, 82 percent, of beneficiaries who are entitled to receive survivor benefits initially…
As of 2017, a whopping 4.2 million children in the United States were receiving Social Security benefits. The total for these benefits? Over $2.6 billion each month. As large as those numbers sound, there are actually many more children that are eligible for these benefits but are not actually receiving them. And this isn’t because the benefits are difficult to…
You can’t afford to miss this opportunity! As proud participants in this year’s Money Smart Week, Walsh and Associates will be offering free courses on four different personal finance topics. Money Smart Week is coordinated by the Federal Reserve and Northern Illinois University – taking place April 21st through April 28th as part of The Financial Literacy Collaborative.  All of…
If you didn’t already know, anyone with earned income can have a Roth IRA….including children! That’s right, there is no minimum age in the tax code to be qualified for a Roth IRA. All that is required is reportable earned income, and the contributions to the Roth cannot exceed that income. Let’s be realistic though – not many children are…
It’s probably no surprise to hear that most senior citizens in America would prefer to live out their days at home. According to an AARP Research Center study1, 87 percent of adults 65 or older want to stay in their current home as they age. Unfortunately, many times circumstances don’t align so that aging in place is a feasible, or…
[SARASOTA, FL/ DEKALB, IL] — [February 14, 2018] — Joseph Walsh, Jr., an independent LPL Financial advisor at Walsh & Associates in Sarasota, FL and DeKalb, IL today announced his inclusion in LPL’s Executive Council. This premier award is presented to less than 1% of the firm’s approximately 15,000 advisors nationwide. “On behalf of LPL, I congratulate Joseph Walsh, Jr.”…
Whether your Estate plan was created twenty years ago or as recently as 2017, thanks to the new tax laws, they may be due for an update. There’s a chance some documents may not even be needed anymore, as old estate tax strategies fall by the wayside. With the new Tax Cuts and Jobs Act of 2017, the exemption for…
Men and women may not be on equal footing when it comes to investing for the future. On average, women work fewer years and earn less than men, but they also tend to live longer.1 Therefore, women must focus on the concerns that are unique to them when planning for retirement. Women Don't Invest Differently ... Unfortunately, some negative stereotypes…
With the success of our Fall 2017 Financial Forum hosted at ACE at Suncoast Technical College, we are excited to announce that this semester will be teaming up with them again for our Spring 2018 Sarasota Financial Forum. We’re excited to present classes on eight different topics at this semester’s forum. Classes will be held at both ACE’s Sarasota and…
According to the College Board1, the average cost of college for 2017 was $34,740 at private colleges, $9,970 for in-state residents at a public college, and $25,620 for out-of-state residents at a public college. No matter how you look at it – it’s not cheap. A possible solution? A designated education savings account could be the way to go. But…
A critical skill for any investor is the ability to spot a financial scam when presented with one. Unfortunately, all too many investors are fooled every day – don’t let yourself become a victim! While investment fraud can come in all shapes and sizes, there are five notable “red flags” you should always watch out for when looking at an…
Upon retirement, many of us expect to receive our Social Security benefits – a much needed supplement to our income in retirement. And due to this expectation, it’s no surprise we become uneasy when we hear worrisome remarks on the fate of Social Security. Here are five common myths we hear about Social Security, and the actual facts behind each…
Though no one likes to admit it, divorce is a very real possibility for many marriage in the U.S. – with between 45 % estimated to fail*. It is undoubtedly a stressful occurrence, but it’s important to not let yourself be taken advantage of. There are a number of financial traps the unsuspecting can fall into, especially when it comes…
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