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Search results for: frequently-asked-questions

50 posts matched your search

BFG in the News: Anthony answers a reader’s question about post-retirement-investment options

Anthony Benante, CFA, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “What are good investments for after you retire?”, originally published on December 5, 2023. Investment decisions in retirement depend on your specific situation. Different investments can have different objectives.

Investing Retirement Planning Baron Team Insights

BFG in the News: Victoria answers a reader’s question about reclaiming a spouse’s pension benefits

Victoria Cannillo, a Financial Analyst at Baron Financial Group, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “My husband left his assets to our daughter. What can I do?”, originally published in January 2024. Having a beneficiary for a pension plan is very important, since…

Financial Planning Retirement Planning Baron Team Insights

BFG in the News: Victoria answers a reader’s question about a child’s savings and financial aid

Victoria Cannillo, a Financial Analyst at Baron Financial Group, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “How will my daughter’s money count for financial aid?”, originally published on October 3, 2023. Assuming your daughter is going to apply for financial aid...

Financial Planning College Planning Baron Team Insights

Baron Financial Answers Video: What is the financial planning process?

Baron Financial Team Answers Questions About “Your Personal Economy”. Presented by James Suazo, ChFC®. Today’s video provides a brief summary of our financial planning process. Our process involves 4 main steps, which will eventually help answer the question, “Am I OK?”. View or listen to our video to learn more

Financial Planning Retirement Planning Income Planning Baron Team Insights Videos Baron Financial Answers

Women Facing Life Changes: How We Can Help

Happy Women’s History Month! In honor of Women’s History Month, we are spotlighting Victoria Cannillo, an Associate Financial Planner/Analyst at Baron Financial Group. At Baron Financial Group, we understand the importance of women taking control of their finances and have experience providing financial guidance to women at different stages of life. Through our Financial Life Planning process, we are here to help answer the questions that don't always fit onto an investment statement.

Financial Planning Income Planning Baron Team

BFG in the News: Victor answers a reader’s question about contributing to a Roth

Victor Cannillo, NAPFA-Registered Financial Advisor, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I’m 69. How long can I contribute to a Roth?”, originally published on June 27, 2023. For 2023, the total contribution limit is $6,500 per year; $7,500 if you’re over 50. You can contribute to your Roth IRA in perpetuity as long as you’re still…

Investing Taxes Retirement Planning Income Planning Social Security Baron Team Insights

BFG in the News: Nick answers a reader’s question about when to take Social Security

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I’m almost 62. Should I take Social Security now or should I wait?”, originally published on March 20, 2023. First, you need to determine how much you are earning through work. Social Security will reduce your actual benefits received if you earn over the income limit before Full Retirement Age (FRA)…

Financial Planning Retirement Planning Income Planning Social Security Baron Team Insights

BFG in the News: Nick answers a reader’s question about Social Security and spousal benefits

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “Should my wife apply for Social Security on my account?”, originally published on July 6, 2023. When your wife applies for Social Security, Social Security will automatically apply for both her own retirement benefits and spousal benefits. This is called “deemed filing”. If your wife never worked…

Financial Planning Retirement Planning Income Planning Social Security Baron Team Insights

Baron Financial Answers Video: How do I create an income stream in retirement?

Baron Financial Team Answers Questions About “Your Personal Economy”. Presented by Victor Cannillo, NAPFA-Registered Financial Advisor. Today’s video answers the question, how do I create an income stream in retirement? We are going to cover three common income resources that may be available to you in retirement. View or listen to our video to learn more.

Financial Planning Retirement Planning Income Planning Baron Team Insights Videos Baron Financial Answers

BFG in the News: James answers a reader’s question about re-entering the market

James Suazo, ChFC®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “We sold our stocks. What should we do with the money?”, originally published on September 7, 2022. Without knowing your full financial situation, we recommend answering the following questions to help you make an informed decision.

Investing Retirement Planning Baron Team Insights

BFG in the News: James answers a reader’s question about withdrawing from retirement accounts using the 4% rule

James Suazo, ChFC®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I want to retire. Should I use the 4% rule?”, originally published on February 22, 2023. The 4% withdrawal rate has been used over time as rule of thumb for withdrawals in retirement. However, we recommend reviewing your specific plan. What is your current ...

Investing Retirement Planning Income Planning Baron Team Insights

BFG in the News: Nick answers a reader’s question about paying for college expenses

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...

Financial Planning Taxes College Planning Insights

BFG in the News: Nick answers readers’ questions about Social Security Benefits

Nicholas Scheibner, CFP®, is quoted on the topic of Social Security benefits, answering readers’ questions on NJMoneyHelp.com by Karin Price Mueller. “I never paid into Social Security. Can I get benefits anyway?”, originally published on May 2, 2022. “If I file for Social Security first, can I still get spousal benefits?”, originally published on June 13, 2022.

Income Planning Social Security Baron Team Insights

BFG In the News: Nick answers a reader’s question about working and contributing to retirement plans

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I’m 75 and working. Can I still save in an IRA or 401(k)?”, originally published on July 13, 2021. Under the SECURE Act, you can now continue to make contributions to a 401(k) or IRA if you have earned income, with no age limitations.

Investing Taxes Retirement Planning Social Security Baron Team Insights

BFG In the News: Nick answers a reader’s question about how CSRS benefits may affect Social Security

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “Will survivor benefits from federal pension lower my Social Security”, originally published on March 4, 2022. The Civil Service Retirement System is a contributory retirement income plan for certain Federal Employees. Typically...

Retirement Planning Social Security Baron Team Insights

BFG In the News: Nick answers a reader’s question about how a parent can help their son be more responsible with money

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “How can I help my son be responsible with money?”, originally published on September 29, 2021. This is a common issue for parents who are looking to teach their children more financial responsibility. The options range from “least restrictive” to “most restrictive”. And the costs and complexities vary with each option.

Why is portfolio rebalancing important during times of market volatility?

Rebalancing is one of the most important tasks we perform as we manage our clients’ investments. It is important that our clients understand the term “opportunistic rebalancing” and how it relates to your portfolio. Victor Cannillo, Wealth Management Principal at Baron Financial Group, answers these questions about rebalancing: What is it? Why do we recommend it? And how frequently will we employ it?

Investing Insights Videos Baron Financial Answers

BFG In the News: James answers a reader’s question about distributions from an inherited IRA

James Suazo, ChFC®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I have an inherited IRA. How soon do I have to take distributions?”, originally published on November 30, 2021. If your inherited IRA falls under the 10-year rule, the IRS has clarified the rule in their publication 590-B...

Financial Planning Taxes Retirement Planning Baron Team Insights

BFG In the News: Nick answers a reader’s question about collecting Social Security Disability benefits from an ex-spouse

Nicholas Scheibner, CFP®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “I’m disabled. Can I get Social Security from my ex?”, originally published on December 30, 2021. There are several benefits provided by the Social Security Administration, and each benefit has different rules governing when you are allowed to apply for them.

Social Security Baron Team Insights Insurance
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BFG In the News: Nick answers readers’ questions about 401(k)s and Investing

Nicholas Scheibner, CFP® is quoted on this topic in an article in NJMoneyHelp.com by Karin Price Mueller, originally published on February 24, 2021. If you are uncertain about what to do with your 401(k) from a former employer who discontinued their plan, and how to invest it for retirement, here is a 3-point checklist of investing new money that may help answer your questions:

Investing Retirement Planning Baron Team Insights
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BFG In the News: Victor answers readers’ questions about the best place to keep cash while paying off a mortgage

Victor Cannillo is quoted on this topic in an article in NJMoneyHelp.com by Karin Price Mueller, originally published on March 31, 2021. A reader with 14 years and $270k left on their 20-year mortgage and currently keeping those funds in an online bank earning 0.40%, posed the question, “Is there a better place to keep this money and earn some kind of yield without too much risk?” Baron Financial Group’s Wealth Management Principal, Victor Cannillo, offered this advice:

Investing Financial Planning Credit Baron Team Insights
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BFG In the News: Nick answers readers’ questions - 3 things to consider when converting money to a Roth IRA

Nicholas Scheibner is quoted on this topic in an article in NJMoneyHelp.com by Karin Price Mueller, originally published on September 15, 2020. A 60-second read by Nicholas Scheibner, CFP®: If you want to transfer your 401(k) to a Roth IRA, here are three things to consider, other than the tax rates, before making a Roth conversion:

Investing Taxes Retirement Planning Baron Team Insights Insurance

Baron Financial Answers Video: How to make mindful financial decisions

Baron Financial Team Answers Questions About “Your Personal Economy"SM. To practice mindfulness when making investment decisions, we should: 1. Gather all the facts – not just those at our fingertips 2. Consider all the possible outcomes – not just ones we hope for 3. Consult with your advisor At Baron Financial Group, we always advise our clients to control the controllable and most importantly, keep emotions out of investing. Here is how we help our clients:

Investing Baron Team Insights Videos Baron Financial Answers
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BFG In the News: Victor answers readers’ questions about College-Savings Accounts and Financial Aid

Victor Cannillo is quoted on this topic in an article on NJMoneyHelp.com by Karin Price Mueller, originally published on July 30, 2020. A 90-second read by Victor Cannillo: If you are a grandparent who has set up a college-savings plan for your grandchild, you may be concerned as to how it could affect their financial aid eligibility. Here are some things to consider.

College Planning Baron Team Insights
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Tips to avoid Phishing Scams

Because we have personally seen several recent phishing emails claiming to be from Amazon, Chase Bank, Capital One, the IRS, among others, we felt it was important to remind everyone to be aware of fraudulent emails and phone calls asking for personally identifiable information. It is key to remember that you will never receive an email or a phone call, from the IRS or your bank, asking for your social security number or account number. Always assume this is a fraudulent call or email and do not give out any sensitive information.

Baron Team Insights
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BFG In the News: Does Gifting Money Affect Financial Aid Possibilities?

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.”

Financial Planning Taxes College Planning
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Do You Have a Will? 3 Basic Estate Planning Documents You Should Have

A 60-second read by Victor Cannillo: If you haven’t completed your estate planning documents yet, consider making it a priority. Having your estate planning documents in place can help to prevent issues down the road and ensures that your specific wants and wishes will be carried out. For example, did you know that technically, everyone has a will? The question is do you have a personalized will or the standard state version?

Financial Planning Baron Team