The start of a New Year is a good time to share our financial checklist again. We created our checklist in January of 2020, as we began a new decade, to help people take a fresh look at their financials. As Financial Advisors, we are dedicated to educating our clients and our community about the importance of their financial health. We hope you find this checklist helpful! You can download the checklist here:
On November 22, 2022, the U.S. Department of Education announced an extension of the pause on student loan payments until the Department is permitted to implement the debt relief program or the litigation is resolved. According to the U.S. Department of Education:
What 5 things should you be thinking about at the end of the year when it comes to your finances? 1. Review your personal budget and commit to a savings plan for 2023. 2. Review your long-term investment strategy...
The ANCHOR benefit application deadline has now been extended to January 31, 2023. This video presentation, originally published on October 11, 2022, has relevant information regarding the New Jersey program, but with the original application deadline of December 30th. The program provides property tax relief to NJ residents who either owned or rented their main residence on October 1, 2019 and met the income limits.
Baron Financial Team Answers Questions About “Your Personal Economy”. Presented by James Suazo, ChFC®. Today’s question is on Estate Planning. Do I need an Estate Plan? What are the three basic estate planning documents? View or listen to our video to learn more
The Social Security Administration (SSA) announced on Thursday, October 13, 2022, that it will be increasing Social Security (SS) and Supplemental Security Income (SSI) benefits by 8.7 percent in 2023. This is the highest increase in 41 years. This cost-of-living adjustment (COLA) will begin for more than 65 million SS beneficiaries in January 2023 and for more than 7 million SSI beneficiaries, on December 30, 2022. Some people receive both Social Security and SSI benefits.
Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD). The Medicare annual open enrollment period for the 2023 Medicare Advantage and Part D prescription plans begins Oct. 15, 2022 and runs through December 7, 2022. You can change your Medicare Advantage and Part D plans without special enrollment requirements. The 2023 Medicare Parts A & B premiums and deductibles will be available in the latter part of the Annual Enrollment period at cms.gov. If you are applying for Medicare for the first time:
Baron Financial Group is committed to helping families with special needs plan for their future through the fiduciary services we provide. In addition, we are proud of the philanthropy we dedicate to organizations like Spectrum for Living (see more about Spectrum below). Baron’s founding partner, Victor Cannillo’s relationship with a special needs family member made him aware of the many challenges associated with those with developmental disabilities. It led him to...
Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “College bills are due soon. Which money should we use first?”, originally published on July 5, 2022. As with most financial questions, the answers will depend on your individual situation, but you can think of the three accounts as...
Baron Financial Group is committed to keeping your personal information safe and educating you on how to remain vigilant. With that in mind, we are sharing this bulletin from Schwab regarding potential scams. We have not received notification of any fraudulent activity with Baron Client Accounts. The following is an educational communication from Schwab to make you aware of what scams to look out for.
On April 6th, President Biden announced that the U.S. Department of Education was extending the pause on student loan payments until August 31st. The pause was previously scheduled to expire on May 1st. According to Studentaid.gov, the pause includes the following assistance measures:
We believe that all clients and prospective clients need to understand the way their financial advisor or potential advisor operates as a firm. We put together this short interview video with our Baron Advisors, Victor Cannillo, Anthony Benante, Nicholas Scheibner, and James Suazo, to ask them some important questions: