Our Thoughts

FJY News to Know #17

Here’s our FJY Take on the latest news from the past week, where we cover what’s happening in the industry and why it matters to you.

Financial Planning: Maneuvering the Gray Areas

It’s not all black and white when it comes to saving for your retirement. That’s because your dreams, goals, values, and financial needs may change over time. How can you navigate the gray areas of financial planning? To start, you can follow rules like saving 15% of your income before tax, deferring taxes, and learning when to modify “the rules” to fit your financial needs.

JPMorgan CEO Admits Students Loans Are A ‘Significant Issue”

Here’s why JPMorgan’s CEO Jamie Dimon says that student loans are a ‘significant issue’: In the consumer debt category, student loan debt now holds the second highest position. Student debt is not only affecting household formation but also mortgage credit. In light of that, Dimon has proposed four ways to help improve student loans which would lead to more prudent lending.

Your Document-Cleaning Guide: Which Records to Toss or Keep?

Spring is the perfect time to clear space, make room for new files, and clean out the old ones. However, before doing away with your past financial records, it’s advisable to discuss the retention requirements of your documents with your tax advisor. You don’t want to be caught off-guard should the state tax or IRS auditor comes knocking on your door. Creating a retention system allows you to run your affairs smoothly — while avoiding unnecessary risks.

Fidelity Rolls Out Workplace Philanthropy Program

In response to the increased number of employees who are keen on working for organizations that are socially-responsible, Fidelity Investments, a company with client assets of over $7.3 trillion, has created a new workplace charitable-giving program. The program allows employees to combine giving to charity with their ongoing benefits programs — while providing employees with an easy way to run their philanthropic projects.

Millennial Money: Talking to Your Parents About Their Financial Plans

While your folks are enthusiastic about giving you a tip or two about your finances, it’s advisable to ask them about theirs. So how do you bring up such a sensitive topic? Talking about your new job or house hunting could be a good opportunity to segue into the conversation. Using other people’s experiences is also another way to discuss their long-term care or estate planning, without coming off as being overly invasive. Such conversations could potentially save you from depleting your safety net.

We work to keep clients engaged in the financial planning process and provide them with the confidence that we are always here, serving their best interest. Contact us to help you write the next chapters of your financial future.  We also love writing about all things finance to help you learn more about how to achieve financial goals; both personally and with your business. Be sure to check out our blog page for an array of topics covering various aspects of finance, wealth management, and all things employer-sponsored retirement planning.