Travel Planning Tips

Contributed by: Raya Chope

Whether you want to take a dream trip around the world or simply want to visit your close relatives for a few days, you can benefit from some pre-trip planning. If you plan far enough in advance, you'll usually get better rates on airline fares, lodging, and packages than if you wait until the last minute, particularly if your travel plans are flexible. If you're traveling to a foreign country, you may need time to obtain a passport or a visa or to research your itinerary. In addition, you'll reduce the inevitable stress that accompanies traveling by preparing yourself as thoroughly as possible.

Financial Considerations for Travelers:
 

Cash vs. Credit Card

The main advantage to paying for your trip with cash is that you'll be less likely to overspend, because you can clearly see how much you're spending. Plus, you won't have to pay your trip off gradually over time, long after your vacation has ended. Even if you pay for most of your travel arrangements with cash, make sure that you do not carry large amounts of cash with you on your trip. It's safer to take traveler's checks or use an ATM card.

Prepare a Daily Budget

Have you ever returned from a trip happy because you spent less than you anticipated? If you're like most travelers, the answer is no. You usually return from trips feeling overextended or even guilty because you spent more money than you wanted to. If you want to avoid this, plan a daily budget before you leave on your trip. This can mean simply deciding how much you want to spend each day, or it can mean breaking down how much you want to spend on certain items on your trip.

Prepare for Cancellation Fees

Before making travel arrangements, find out what will happen if you have to cancel your trip. In most cases, you'll pay some penalty if you cancel. For instance, if you purchase nonrefundable airline tickets (many tickets issued at a “low fare rate” are nonrefundable), you cannot get a refund if you cancel your trip. If you have to cancel a group tour or cruise, expect to pay part or all of the cost of the trip, depending on how early you cancel. Since the cancellation policies vary widely, make sure you understand how and when you will be charged if you cancel.
 

Make copies of your important documents

Before you go on your trip, copy all your important documents, including your driver's license, your medical card, your credit cards, and your passport. Give a copy to a friend/family member at home in case your wallet or identification is stolen. Keep with you a copy of your passport, your airline ticket number, and a log showing what traveler's check numbers you've used in case these get lost or stolen.

We love to see our clients living out their travel dreams, please don’t hesitate to call or email our staff with any questions.

Raya Chope is a Client Service Associate at Center for Financial Planning, Inc.®

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Any opinions are those of Raya Chope and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Webinar in Review: Part 1: The Grey Divorcée

Contributed by: Jacki Roessler, CDFATM

Social Security Tips for Grey Divorcees: 3 Things We Bet You Didn’t Know

(Revised and updated from an original blog posted in July, 2015) by Jacki Roessler, CDFA™ and Melissa Joy, CFP®)

Back in July, 2015, Melissa and I presented a workshop on Social Security benefits and divorce to attorneys with the intent of giving them information to protect their clients. Since that time, we’ve both worked with many grey divorce (i.e. over age 55) clients who benefited greatly from this advice. We believe now is a good time to bring these issues directly to those in the process of divorce.

1. It is most likely NOT better to claim Social Security early, at age 62.

Generally, as long as you can afford to wait to age 66 and you’re in good health with a reasonable life expectancy, it’s far better to wait to full retirement age (FRA) to collect, in order to maximize lifetime Social Security benefits.

This seemed counter-intuitive for many of the workshop attendees, as it was for me when I began researching this topic. However, there is a steep reduction in benefits for those who collect early. That reduction lasts a lifetime. Keeping in mind that Social Security is an income stream that cannot be outlived, and life expectancy for Americans has increased dramatically, any number crunching will back up this tip. Think Social Security might go bankrupt? Despite what you’ve heard, this is an extremely unlikely scenario for the baby boomer generation and beyond.

Of course, if you need the cash flow and don’t have other sources of income, this strategy may not be feasible.

2. 10 years married is the magic number.

Ex-spouses are entitled to receive up to 50% of their former spouse’s Social Security benefit or 100% of the benefit on their own work history, whichever is greater. However, in order to qualify, the marriage had to last 10 consecutive years and the recipient ex-spouse cannot be remarried.

Suppose Sarah, a lower-wage earner, is in a marriage with a high-wage-earning spouse. Sarah’s ex-husband’s FRA Social Security benefit is $2,400. Sarah could receive 50% of her ex’s benefit ($1,200 per month) or the benefit on her own work history, $700 per month. Wouldn’t Sarah prefer bumping up to the divorced spouse retirement benefit in lieu of claiming her own?

Unfortunately, we see cases all the time where the marriage lasted close to 10 years — but not quite! This is often a critical planning error. Some couples might be willing to stay married for an additional year to have access to a larger lifetime income stream for the low-wage-earning spouse.

Keep in mind that when a divorced spouse’s retirement benefit is paid, it doesn’t impact the high-wage earners benefit in any way. They can still receive 100% of their own Social Security benefit. In fact, as long as the high-wage earner was married to each spouse for 10 consecutive years, he or she could have up to 4 ex-spouses collecting a divorced spouse benefit on their earnings.

3. Consider not remarrying before age 60.

Social Security Widow’s benefits can be up to 100% of the deceased spouse’s Full Retirement Age benefit. This rule applies to ex-spouses as well. Sarah in the example above would be entitled to receive as much as $2,400 per month (remember that her own workers’ benefit was $700 per month and monthly spousal benefits were $1,200). However, there is a little-known caveat: the ex-spouse can’t remarry before age 60. In the example above, Sarah would surely consider putting off her pending marriage to her new beau, Mark, until she turns 60. If the remarriage occurs after age 60, Social Security Widow benefits would still be available.

If you’re going through a “grey” divorce and want more detailed information, please click on the link below to watch our webinar replay.

As always, we’re here to help. If you need assistance, contact Jacki at Jacki.Roessler@centerfinplan.com or Melissa at Mellisa.Joy@centerfinplan.com.

Jacki Roessler, CDFA^TM is a Divorce Financial Planner at Center for Financial Planning, Inc.®

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Jacki Roessler and not necessarily those of Raymond James. This is a hypothetical example for illustration purposes only. Actual investor results will vary. This is a hypothetical example for illustration purposes only. Actual investor results will vary. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

Is Corporate Tax Reform a Good Thing?

Contributed by: Jaclyn Jackson

The probability of tax reform is increasing with the White House proposing to reduce the corporate statutory federal tax rate from 35% to 20%.  Even though most companies don’t actually pay at the 35% tax rate (26% median effective tax rate for the S&P 500), the tax cut is projected to lift S&P earnings by 8%.  While S&P projections sound good, economic benefits are not a sure thing as implications could have varying outcomes based on historical data. 

To illustrate the complexity of implications, I’ve outlined core arguments that prove and disprove the benign effects of lowering the corporate tax rate.

For:

1. Incentivizes US companies to stay in the US, expand business, and increase employment.
   
   According to a study done by J.P. Morgan, 60% of the cash held by 602 US multi-national companies is in foreign accounts. They concluded that $663 billion would be invested into business expansion and job growth in the United States, if an income tax cut were offered to companies that repatriate.
    

2. Higher corporate income taxes lower worker wages, diminish consumption, and increase unemployment.
   
   Using data from 1970-2007, a Tax Foundation study found that for every $1 increase in state and local corporate tax revenues, hourly wages would drop an estimated $2.50. Theoretically, lower wages decrease one’s ability to buy goods, resulting in lower income for businesses thereby creating a net increase in unemployment.
    

3. Job growth is inhibited by the current corporate income tax rate which is over the rate that maximizes revenue to corporations and the US government.
   
   Based on studies of the Laffer curve, the corporate income tax rate that maximizes revenue to both corporations and the US government is 30%.

Against:

1. Repatriation doesn’t ensure more jobs in the US.
   
   Congress passed a tax holiday in 2004 that allowed companies to bring back earnings made abroad at a 5% income tax instead of at 35%.  Fifteen of the companies that most benefitted cut more than 20,000 net jobs.
    

2. Historically, unemployment rates were the lowest in US when federal corporate income tax rates were the highest.
   
   From 1951 (top marginal corporate income tax rate rose from 42% to 50.75%) to 1969 (rates reached 52.8%), the unemployment rate moved from 3.3% to 3.5%. From 1986 to 2011 (top marginal corporate income tax rate declined from 46% to 35%), the unemployment rate moved from 7% to 8.9%.
   
   Majority of economists don’t link employment to lower tax rates.  When 53 American economists were polled, 65% attributed employers not hiring to lack of product/service demand.
    

3. High corporate profits don’t guarantee low unemployment rates.
   
   In 2011, corporate profits made up 10% of US GDP (highest since 1950), but corporate income tax revenue only brought the US federal government the equivalent of 1.2% of GDP (lowest in recorded history). In 2011, the US unemployment rate was 8.9% compared to the OECD (Organization of Economic Cooperation and Development) average of 8.2%.

*Data summarized from https://corporatetax.procon.org/.

While most would agree lowering corporate tax rates deserves serious consideration, it is not a given that lowering corporate tax rates will improve employment nor consumption.  Today, US corporate profits are high (sitting on nearly $2 trillion in cash), yet wages and job creation hasn’t gone up significantly. There are many other factors to consider with comprehensive tax reform, not to mention the tough tradeoffs involved in this process. Frankly, tax reform is a huge, convoluted undertaking; time will tell whether the current administration is up to the task.

Jaclyn Jackson is a Portfolio Administrator and Financial Associate at Center for Financial Planning, Inc.®

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The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Jaclyn Jackson and not necessarily those of Raymond James. Past performance is not a guarantee of future results.

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Guidance on How to Care for Your Aging Parent

Contributed by: Sandra Adams, CFP®

More and more often as we meet with clients, one of the major topics that comes up is the responsibility of caring for an aging parent.  The topic is one that causes a great deal of stress and anxiety, as most clients that find themselves in this role have no idea where to start.  I am always looking for tools and resources that might be helpful for both clients and planners in assisting our clients in this area, and recently read a book called “The Bittersweet Season” by Jane Gross that I consider a must read for anyone who is a caregiver now or might be in the near future.

Jane Gross, the author of “The Bittersweet Season” and creator of the New York Times New Old Age blog, shares her personal journey becoming a caregiver for her aging mother.   Jane and her brother are suddenly thrust into the world of advocacy and planning for their aging mother as her health suddenly declines in her 80’s.  Jane tells of their trials, tribulations, errors and successes as they navigate the unknown worlds of healthcare, Medicare and Medicaid, senior housing, caregiving and elder law.  She shares her best tips based on lessons learned – both through personal experience and through others based on her New Old Age blog.  Two of her greatest lessons learned were not to act before checking in with experts and to ask for help – there is no need to try to do everything on your own.

In the book, Jane also discussed the successes and failures of the roles of caregiving between siblings; determining whose strengths matched which roles best and how to best manage emotions so as not to let the stress of caregiving destroy the relationship between her and her brother.  She also tells a wonderful story about the ups and downs of the relationship between she and her mother during the caregiving relationship, and how, ultimately, the experience brought she and her mother closer together. And how she wished she’d had just a little more time to get to know her mother – the end of her life was the end of their bittersweet season.

For recommendations on additional resources and tools for caregiving, or to discuss how caregiving for an aging parent might impact your own financial plan, contact your financial planner at The Center.

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc.® Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.

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Any opinions are those of Sandra D. Adams and not necessarily those of Raymond James.

Webinar in Review: Year-End Tax Planning

Contributed by: Nick Defenthaler, CFP®

On November 14th, Melissa Joy, CFP® and I hosted The Center’s annual Year-End Tax Planning Opportunities and Strategies webinar which continues to be one of our best attended discussions throughout the year.  In 2016, Melissa and I hosted the webinar two days after the presidential election and this year, the presentation was held several days after the latest GOP tax reform proposal.  Needless to say, it’s been a great chance for our team to share timely updates with clients and strategic partners! 

If you weren’t able to attend the webinar live, we’d encourage you to check out the recording below.  Here are a few key points and takeaways from our discussion:

Potential Tax Reform Highlights  

• Moving from seven tax brackets down to three or four: 12%, 25%, 35% and 39.6%

• Elimination or caps on popular deductions:  State and local taxes, medical expenses, student loan interest, mortgage deduction cap, property tax cap

• Larger standard deduction (almost doubling from $12,700 for married filers to $24,000)

• Repeal of Alternative Minimum Tax (AMT)

• Corporate tax reduction (moving down to 25%)

• Estate tax exemption (almost doubling from $5.5M to $11M, with the goal of repealing the estate tax completely within 6 years)

2018 Updates

• Social Security Cost of Living Adjustment (COLA), Medicare premium adjustments, retirement plan contribution and income limit adjustments, etc.)

Retirement Planning   

• Evaluate your savings rate moving into the new year and if you’re not maxing out your 401k ($18,500 or $24,500 if over the age of 50), consider increasing your savings percentage by 1% - 2% each year

• Work with your advisor to determine if the Traditional (pre-tax) or Roth (after-tax) retirement vehicles makes sense for your situation given your current and projected future tax bracket  

Charitable Giving

• Consider utilizing a Donor Advised Fund to gift appreciated securities from a brokerage account – allows you to take a tax deduction and also avoid paying capital gains tax

• Consider utilizing the Qualified Charitable Distribution (QCD) if you’re over the age of 70 ½ - allows you to gift funds directly to charity from your IRA

Investment Planning  

• Review your allocation before year end to see if your mix between stocks and bonds is appropriate for your situation

• Consider the asset location of your portfolio to potentially improve after-tax returns

• Consider proactive planning such as tax-loss harvesting

As mentioned during the webinar, don’t forget to check out our Year-End Planning Opportunities guide in the resources portion of our website.  This guide acts as a helpful tool to help organize your financial picture before year and also provides further insight on retirement planning strategies to consider as well as a detailed overview of proposed tax reform.  Please feel free to contact your financial planning team at The Center with any questions or concerns, we’re here to help.

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc.® Nick works closely with Center clients and is also the Director of The Center’s Financial Planning Department. He is also a frequent contributor to the firm’s blogs and educational webinars.

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This information is being provided for educational purposes only and is not intended as specific tax or investment advice. Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

2018 Increases Retirement Plan Contribution Limits and Other Adjustments

Contributed by: Robert Ingram

Several weeks ago, the IRS released updated figures for retirement account contribution and income limits for 2018.  Like the recent Social Security cost of living adjustment, the adjustments are minor but certainly worth noting. 

Employer Retirement Plans (401k, 403b, 457, and Thrift Savings Plans)

• $18,500 annual contribution limit (up from $18,000 compared to 2017 – first increase in 3 years!)

• $6,000 “catch-up” contribution if over the age of 50 remains the same as 2017

• Total amount that can be contributed to defined contribution plan including all contribution types (employee deferrals, employer matching and profit sharing) increases to $55,000 (up from $54,000 compared to 2017) or $61,000 if over the age of 50 ($6,000 catch-up)

  • Consider contributing after-tax funds if available and cash flow allows for it.

In addition to the contribution limits increasing for employer-sponsored retirement plans, the IRS adjustments provide some other increases that can help savers in 2018.  A couple of highlights include:

Traditional IRA deductibility income limits:

Contributions to a Traditional IRA may or may not be tax deductible depending on your tax filing status, whether you are covered by a retirement plan through your employer, and your modified adjusted gross income (MAGI).  The amount of your Traditional IRA contribution  that is deductible is reduced (“phased out”) as your MAGI approaches the upper limits of the phase out range.  For example,

• Single: Covered under a plan

  • Phase out begins at $63,000 up to $73,000 compared to 2017 (phase out: $62,000 to $72,000)

• Married filing jointly: Spouse contributing to the IRA is covered under plan

  • Phase out begins at $101,000 to $121,000 compared to 2017 (phase out: $99,000 to $119,000)

• Spouse contributing is not covered by a plan but other spouse is covered under plan

  • Phase out begins at $189,000 to $199,000 compared to 2017 (phase out:  $186,000 to $196,000)

Roth IRA contribution income limits:

Whether or not you can make the maximum contribution to a Roth IRA,  ($5,500 in 2018 plus a $1,000 “catch-up” for individuals age 50 and above) depends on your tax filing status and your MAGI.  The contribution you are allowed to make is reduced ("phased out") as your MAGI approaches the upper limits of the phase-out range.  In 2018 for example,

• Single

  • Phase out begins at $120,000 to $135,000 compared to 2017 (phase out:  $118,000 to $133,000)

• Married filing jointly

  • Phase out begins at $189,000 to $199,000 compared to 2017 (phase out: $186,000 to $196,000)

If your income is over this limit and you cannot make a regular annual contribution, you might consider a popular planning tool known as the “back-door” Roth conversion.

As we enter 2018, these updated figures will be on the forefront when updating your financial game plan.  However, as always, if you have any questions surrounding these changes, don’t hesitate to reach out to our team!

Robert Ingram is a Financial Planner at Center for Financial Planning, Inc.®

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The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Bob Ingram, CFP® and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. The above hypothetical examples are for illustration purposes only. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Risk Expectations – Markets Go Down Every Year

Contributed by: Nicholas Boguth

Investing is risky: the price of securities can go down, but there are strategies to help mitigate this risk: diversifying and sticking to your plan.

The chart below shows the price return (gray bar) and the largest intra-year decline (red dot) of the S&P 500 since 1980. This is one of my favorite charts because it reminds me that stock prices have indeed gone down at some point during EVERY year, but ultimately returned a positive number a vast majority of the time.

It states an appalling statistic: the average intra-year decline of the S&P 500 over this period is more than 14%. I say appalling because despite the average decline being -14%, the average return by the end of each year is over 8%, and this does not even include dividends! This acts as a great reminder to stay invested and don’t change your plan when the markets take a dive.

Our ultimate goal is to diversify in order to reduce that average intra-year drawdown, without sacrificing too much return. It is not easy for most investors to stomach watching their money decline by 14%, which is why risk management is a key part of the investment process. The right amount of risk is going to be different for everyone; working with us to determine your financial goals and capacity/willingness to take risk is step one in building your personalized portfolio.

Nicholas Boguth is an Investment Research Associate at Center for Financial Planning, Inc.® and an Investment Representative with Raymond James Financial Services.

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This information has been obtained from sources deemed to be reliable but its accuracy and completeness cannot be guaranteed. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. Past performance does not guarantee future results. Dividends are subject to change and are not guaranteed. Diversification does not ensure a profit or guarantee against loss. There is no assurance that any investment strategy will ultimately be successful, profitable nor protect against loss.

Jacki Roessler, CDFA™ Joins The Center as a Divorce Financial Planner

Contributed by: Center for Financial Planning, Inc.®

Jacqueline (Jacki) Roessler, CDFA(TM), joined The Center this month as a divorce financial planner. Jacki builds out The Center's divorce financial consulting practice. Attorneys refer their clients to Jacki to make educated financial decisions during divorce.  She works with individuals and couples to develop and analyze various divorce settlement options that address their short term and long term financial needs and goals. Issues she addresses range from setting up a temporary financial agreement while the divorce is pending to the optimal division of retirement accounts, determining the affordability of keeping the house, minimizing taxes and arriving at an equitable settlement, to name a few. your short-

 It is the goal of The Center to empower people with wisdom to make financial decisions with confidence. Jacki's expertise in the nuanced field of financial advice during divorce compliments The Center's existing focus of financial planning for generations. Her thought leadership and in-depth knowledge on Michigan divorce financial topics is sought by attorneys and people going through divorce for hourly consultations and engagements.

Jacki is past Executive Vice President of The Institute of Certified Divorce Analysts. She is frequently quoted on divorce financial matters in national media including Money Magazine, Fortune, Kiplingers Personal Finance, Bloomberg's Wealth Manager, and Investment News. She has published articles in the Michigan Family Law Journal and Michigan Lawyers' Weekly. 

She is a frequent lecturer to attorneys (the Institute for Continuing Legal Education (ICLE), the Family Law Section of the State Bar of Michigan, various local bar associations), financial organizations around the country (FPA and NAPFA groups), community events, local universities and divorce support groups on the financial issues surrounding divorce. As a specialist in the QDRO and pension arena, she has conducted seminars around the country, teaching lawyers, judges and financial professionals the intricacies of QDRO’s and pension valuations in divorce cases. Jacki also develops software applications to assist divorce attorneys settle the financial aspects of their cases through her outside firm, Divorce Axis.

In her personal time, Jacki enjoys spending time with her two kids. Jacki currently serves on the Advisory Committee of the Women’s Divorce Resource Centerhttp://womensdivorce.org, the Board of Trustees for the Michigan Opera Theatre, the Board of Directors for the Magic of Life Foundation http://www.themagicoflife.com/programs/the-magic-of-life-foundation/ and is an active member of Impact100  Metro Detroit http://impact100metrodetroit.org.

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Center for Financial Planning, Inc. is a privately held wealth management firm located in Southfield, Michigan. The firm provides financial planning services to more than eight hundred families in 38 states. Founded in 1985, The Center manages more than $1 billion in assets for individuals and families.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

Military Veteran’s – Are you Entitled to Benefits?

Contributed by: Sandra Adams, CFP®

As we honor our servicemen and women, it is a good time to be mindful of valuable financial benefits that military veterans may be eligible for, but not aware of – namely Service Related Disability Compensation and Veteran’s Pensions (and Aid and Attendance Benefits for Long Term Care needs).

Disability Compensation:

Disability Compensation is a tax free financial benefit paid to Veterans with disabilities that are the result of a disease or injury incurred during active military service.  Compensation may also be paid for post-service disabilities that are considered related or secondary to disabilities occurring in service and for disabilities presumed to be related to military service.  Compensation is tied to the degree of disability and is designed to compensate for considerable loss of working time.  There is also a tax free Dependency and Indemnity Compensation (DIC) benefit payable to a surviving spouse, child or dependent parents of Service members who died while in active duty or training, or survivors of Veterans who died from their service-connected disabilities.

Pension Benefits:

Veteran’s Pension benefits may be available for Veterans or dependent family members who need to pay for health care expense and certain other living expenses.  The pension benefit is a needs based program and is based on income and asset requirements set by Congress. 

General Eligibility Requirements:

• Must have served at least 90 days active duty service, at least one day during a wartime period, AND

• Must be 65 or older, OR

• Must be totally and permanently disabled, OR

• A patient in a nursing home receiving skilled nursing care, OR

• Receiving Social Security Disability Insurance, OR

• Receiving Supplementary Security Income

Veterans or surviving spouses who are eligible for VA pensions and are housebound or require the aid and attendance of another persona may be eligible for an additional monetary payment.  Applying may require the counsel of a VA counselor or an Elder Law attorney knowledgeable about Veteran’s Benefits.

In addition to these two major financial benefits, the VA provides assistance for Veteran’s with housing, education, insurance and other areas of concern and interest for Veteran’s.  If you are a military Veteran and are not aware of the benefits you might be eligible for, contact your local Veteran’s Service Agency today.  And remember to mention to your financial planner that you are a military Veteran – the benefits you might be eligible for could be an important piece in your overall planning puzzle!

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc.® Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Sandra Adams, CFP® and not necessarily those of RJFS or Raymond James. You should discuss any tax or legal matters with the appropriate professional.