The most important thing in your life is your child. And for parents with a special needs child that requires specialized care, the most significant concern is what happens to my child when I am gone or can no longer advocate for them. How would your child be financially taken care of? Watch our 85-second video to learn about how we help families with special needs.
Start the new decade with a fresh look at your financials. Here is a checklist to get you started:
What 5 things should you be thinking about at the end of the year when it comes to your finances?
Victor Cannillo and Nicholas Scheibner of Baron Financial Group recently spoke to the senior residents of the New York Medical College Pediatric Residency Program in Valhalla, NY about financial planning.
Start by choosing one who listens to you… Baron Financial Group is a member of NAPFA (National Association of Personal Financial Advisors). We are a Fee-Only firm that is compensated solely by the client, not by the purchase or sale of a financial product. Our fiduciary responsibility is to put the best interests of our clients first.
If you are considering an additional car purchase (for your child or for yourself), there are several financing options that you may want to consider to determine the best way to pay for the car. Here are some pros and cons of the possible options:
There are important questions at certain ages that you should keep in mind on your journey. Your options for Retirement and Financial Planning need to be given very serious thought and examination. You need to identify your goals, explore your options, and test for the unexpected.
You want to put your emergency funds in an account where the funds are easily accessible and not exposed to risk. Examples include traditional bank accounts that carry FDIC insurance (savings, checking, etc.).
Whether you are making a plan to travel or planning for retirement, determining an appropriate strategy ahead of time will provide guidance for a path to success and for actions to take when things might not go as smoothly as expected.
1. Turning wealth into income – creating a total return strategy that produces a continuous paycheck just like you had when you were employed 2. Revising your investment strategy – which was successful for the accumulation phase but may not work as well now during the distribution phase 3. Protecting against new risks and concerns...
A 60-second read by Anthony Benante, CFA: What value does a Comprehensive Financial Advisor offer? There is the obvious – offering expertise in investment management and financial planning, and then there is the not-so-obvious.
A 45-second read by Victor Cannillo: If you want to help a relative pay for college, you can pay the money to the college directly without incurring any gift taxes. However, you need to ask the school if this would affect the need-based aid eligibility of the student because each school handles this differently. For example, if the school views the money as a payment of the student’s account, then most likely it would not affect financial aid. But if the money is treated as a resource, then it will reduce the student’s aid “dollar-for dollar.”