Maximizing Benefits from Educational Assistance Programs: Key Insights for Personal Financial Planning
Personal financial planning is not just about managing individual finances; it also encompasses planning for business owners and their enterprises. In an increasingly competitive job market, effective planning can significantly enhance employee benefits as part of a benefits package, such as a 401(k) plan. One valuable strategy for business owners is educational assistance programs, which […]
Emergency and Abuse Exceptions to 401(k) Early Withdrawals
Personal financial planning is not just about managing day-to-day finances; it also includes planning for retirement and preparing for unexpected financial emergencies. The IRS recently released Notice IR-2024-170, offering essential guidance on exceptions to the 10% additional tax on early retirement plan distributions. This guidance provides critical relief options for distributions for personal or family […]
Understanding New FDIC Rules for Trust Accounts
In April, the Federal Deposit Insurance Corporation (FDIC) implemented a final rule to simplify deposit insurance regulations for trust accounts. These changes aim to make the rules easier to understand for both depositors and bankers. Here are the key highlights: Trust Accounts: The previous categories of revocable and irrevocable trust accounts have been merged into […]
Emergency Reserve Fund
An emergency fund is a crucial component of any sound personal financial plan. The fund acts as a financial reserve or safety net, to cover unexpected expenses, or interruptions in income without disrupting your long-term investments, which potentially could cause financial loss or adverse income tax consequences. The first step in the creation of an […]
Know the Difference Between a Credit Freeze and a Credit Lock!
In the realm of personal financial planning, safeguarding your credit is crucial. Two powerful tools to protect your credit from fraud and identity theft are a credit freeze and a credit lock, but do you know the difference? While they may seem similar, there are significant differences between the two. In this blog, we’ll explore […]
Passwords: Safeguarding Your Financial Information
In today’s digital age, managing your personal finances often involves navigating online banking, investment platforms, and financial management tools. While these technologies offer convenience and efficiency, they also pose significant security risks. One of the most critical aspects of safeguarding your financial information is creating and maintaining strong passwords. Let’s explore why strong passwords are […]
Thomas Tillery, MA, MSFS, AEP (Distinguished), CFP® to Speak at AICPA
Sunday, June 2, Aria, Las Vegas – Thomas Tillery, MA, MSFS, AEP (Distinguished), CFP®, a distinguished educator and esteemed expert in personal financial services, is honored to announce his participation as a speaker at the AICPA Engage 2024 conference. The event, renowned for bringing together leading professionals from the accounting and financial planning industries, is […]
Susan M. Tillery, CPA/PFS, AEP® (Distinguished) to Speak at AICPA Engage 2024
Sunday, June 2, 2024, Aria, Las Vegas – Susan Tillery, CPA/PFS, AEP (Distinguished) financial advisor and a leading practitioner of the unbundled virtual family offices and personal financial planning, is honored to announce her participation as a speaker at the AICPA Engage 2024 conference. The event will take place June 2-6, 2024 at Aria, Las […]
HSA – A powerful tool in the Personal Financial Planning Process
Health Savings Accounts (HSAs) are a powerful, yet often underutilized tool, used to manage healthcare expenses and build long-term wealth as part of the personal financial planning process. Understanding how to effectively incorporate an HSA into your personal financial plan can provide significant tax advantages and help you save for future medical costs. A Health […]
Paraklete® Financial, Inc. Expands its Presence in Scottsdale, AZ, with a New Office
Scottsdale, AZ – May 28, 2024 – Paraklete® Financial, Inc., a distinguished financial advisory firm, is pleased to announce the opening of its newest office in Scottsdale, Arizona. This expansion underscores the firm’s commitment to providing exceptional financial services and personalized guidance to clients in the Scottsdale community and beyond. The Scottsdale office is led […]
