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Not saving for retirement? Know your future self

Get to know your future self! It shouldn’t be a shock to hear that people don’t save enough for retirement. Americans are only saving 5 percent of their income, and that’s up from the typical 0...

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How much is that doggie in the window? A lot!

Americans spend more than $45 billion on their pets every year. That’s not surprising since a pet is part of the family. However, that doesn’t mean you can forgo retirement savings or go into debt to...

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Retirees save money by choosing the right Medicare Part D plan

Retirees live on a fixed income, so it is extremely important to get the biggest bang for those bucks. One way to do that is to confirm that you have the best Medicare Part D prescription drug plan....

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Be smart when choosing employee benefits

It’s that time of year when your employer rolls out their 15 percent increase to your health insurance payment. That’s a bad joke, but most likely a true statement. It’s also the time to review all of...

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Unknown medical bills can cost you thousands

Collection agencies contacted 30 million people for unpaid medical bills in 2010, according to a survey by The Commonwealth Fund. It’s estimated that about one-third of those collections were the...

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The easy way to become a millionaire

Everyone strives to be a millionaire. Think of the many television shows that have a $1 million prize for the winner. Or look at the lottery commercials touting the latest pot of multiple millions....

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The investment answer

The American public has a huge lack of knowledge about investments. The reasons for this are numerous. The education system doesn’t teach kids about personal finance. People generally aren’t...

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Financial benefits of marriage equality

I’m sure you’ve all heard by now that the Supreme Court has decided to hear cases on the Defense Of Marriage Act (DOMA) and Proposition 8. Let’s assume DOMA is ruled unconstitutional and Prop. 8 is...

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Four easy financial New Year’s resolutions

We are three weeks into the New Year and most of us have already broken our New Year’s resolutions. That means you need some new ones! Only 8 percent of people stick to their resolutions for the...

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Good stuff in the fiscal cliff deal

Creative Futons Hillcrest grand opening The media can be real Debbie-Downers sometimes. They spend months covering the negative part of a situation. Then it gets resolved and they are on to the next...

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Under my umbrella, ella, ella … policy

The Money Shot BY STEVE DOSTER There’s a little known insurance policy that is inexpensive and great to have. It’s called an umbrella policy and it also goes by the more technical name of “excess...

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Top five secrets about the Roth IRA

Many years ago, the federal government did something amazing – they created the Roth IRA. The reason it’s so amazing is because you never pay tax on money after it’s deposited into a Roth IRA. Many...

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Lessons from the recession

Remember September 2007? That’s when the stock market was at an all-time high. Within 18-months it dropped by almost 50 percent. Just last week, after four long years, the market finally made it back...

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HSAs: good for your health and wallet

Health Savings Accounts, or HSAs, are available to people that have a high-deductible health insurance plan. The HSA is used for medical expenses such as your deductible, co-payments, medications,...

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Social networks impact your credit score?

Pretty much everyone is using at least one of the social network sites like Facebook, LinkedIn, Twitter, Pinterest or Instagram. We connect with friends, family and colleagues using these sites. Some...

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Are your investments gay-friendly?

The LGBT community is extremely thoughtful and generous in donating to charitable organizations. We give our money and time to issues that personally matter to us. It’s easy to understand which...

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Fees take 66 percent of retirement money!

It’s doubtful you are as nerdy as me and watch PBS Frontline. However, I encourage everyone to watch the program titled The Retirement Gamble that aired April 23 (it’s easy to find online). This show...

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‘Gen Silent’ shines spotlight on issues facing LGBT seniors

Two-thirds of LGBT seniors live alone. Fifty percent of nursing care employees say their co-workers would be uncomfortable assisting LGBT residents. These are just two of the problems facing LGBT...

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Where to invest your money

There are many situations where you need to figure out where to invest your money. Maybe you left a company to take a new job. Or maybe you are retiring. Do you leave your money at the old company? If...

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Life stage planning: in your 20s

Finances and money obligations change throughout life. A 30-year-old has different goals and money concerns than a 70-year-old. With this in mind, the next several columns of The Money Shot will focus...

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Financial benefits of same-sex marriage in a post-DOMA world

The Supreme Court struck down the portion of the Defense of Marriage Act (DOMA) that denied federal benefits to married same-sex couples. This has dramatically changed the emotional and financial...

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Top 15 benefits for married same-sex couples

Everyone knows that the Supreme Court struck down Section 3 of the Defense of Marriage Act (DOMA). That means married same-sex couples now qualify for the 1,100+ federal benefits that were previously...

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Life stage planning: in your 30s

A few articles ago I started a series called life stage planning. We only got through the 20s before DOMA was repealed and sidetracked us. But now we are back to continue on through our financial...

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Life stage planning: in your 40s

Turning 40 is a big deal. This decade of life is a time when you really start putting it all together. Once you make it into your 40s, you have tried out different occupations and gained tons of work...

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To marry or not to marry?

The recent U.S. Supreme Court rulings have stirred up the LGBT community like never before. Many same-sex couples have already made a mad dash to City Hall, anxious to claim their rights to marriage...

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Life stage planning: in your 50s

There are some big changes that occur for 50-years-olds. Of course, there is the gray hair (if you have any left) and larger mid-section. But you also have some different rules for saving for...

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Life stage planning: in your 60s

Finally, the decade when you get to retire! Reaching your 60s is an exciting time for soon-to-be retirees. It can also be stressful, but that stress can be greatly reduced with some thoughtful...

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Life stage planning: in your 70s

Most folks in their 70s are retired. However, that doesn’t mean you are done with retirement planning! There are still things retirees should be doing every year. One of the tasks to do each year is...

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Life stage planning: in your 80s and 90s

In the last of the life stage planning series we come to the Golden Years! This is the stage of life where you get away with everything. You can cut people in the grocery line and no one says...

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A simple and easy spending plan

Budgeting is boring! There is no other way to describe it. Tracking all your expenses and inputting them into categories created in one of those financial programs can be tedious. Even the online...

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Hey seniors, save some money!

We are right in the middle of the open enrollment period for Medicare coverage. This means those 65 and older can change their Medicare Part D plan anytime between now and Dec. 7. Why should seniors...

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Retire rich with only 1 percent more savings

Imagine you are a 27-year-old person not saving for retirement. You have a nice job paying $40,000 per year. The employer 401(k) plan offers a matching contribution of 50 percent up to 6 percent of...

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LGBT investors more optimistic than straight investors

Positive attitudes are great! And a recent study by UBS finds that LGBT investors are an optimistic bunch when compared to straight investors. The LGBT community has a significantly higher belief that...

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My experience with Obamacare

With the rough rollout of Healthcare.gov, I was a bit tentative to begin looking at my health care options for Obamacare. You see, I am one of those people that had my policy canceled because it...

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How to fire your financial adviser

photos.com “We’ve been thinking of leaving our financial adviser for a few years. But if we left, we didn’t know what to do with our accounts?” That is a comment I commonly hear from new clients....

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Save money on your cell phone plan

Cell phone service is turning into a big monthly expense. People are using their smartphones for more things like watching movies, using thousands of apps and playing video games. Data usage is on the...

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Two types of financial advisors

Imagine having a friend or neighbor that you could turn to whenever you had a financial question. Think about how amazing that would be. Not sure how much of a house you can afford? Call your...

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Taxes for married same-sex couples

Last year was big for same-sex marriage. The Supreme Court ruled that the Defense of Marriage Act, or DOMA, was unconstitutional and Proposition 8 was overturned. As we all know, same-sex couples can...

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Little known strategy to reduce mortgage payments

Many California homeowners financially stretch themselves to buy a home. It’s almost inevitable when even a starter home is selling for $400,000 or more. That means big monthly mortgage payments eat...

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Make your savings grow with a brokerage account

It’s great when people ask me finance questions. Many are embarrassed or afraid to ask financial questions, but that should not be the case. Remember, none of us have been taught about personal...

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What’s a stock index?

DJIA, S&P 500, NASDAQ, and EAFE. Does this feel like reading a menu in a foreign country? For most, it definitely shouldn’t mean much to you. Sure the pretty newscaster says things like “the...

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Compare your net worth … or not

Many people want to know how they compare to others financially. Do they have as much saved up as other people their age? Are they ahead or behind everyone else? It is just one of those human traits...

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Savings tax credit for low income workers

There is a report called Making Ends Meet that has been in the news the past few months. This research, put together by the Center on Policy Initiatives, calculated the average income needed to cover...

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New way to support and invest in LGBT-friendly companies

A new exchange traded fund (ETF) created in February 2014 allows investors to buy companies that support LGBT equality. It’s called the Workplace Equality Portfolio and trades under the ticker symbol...

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Something everyone needs — an emergency fund

All working adults should have an emergency fund. It is that important! In fact, I believe it is the very first thing to get in place once out of school and working full-time. An emergency fund is...

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Many wartime veterans are missing out on valuable long-term care benefits

thinkstock The Department of Veteran Affairs (VA) has been in the news quite a bit lately, and not in a good way. However, this exposure brings to mind many great things about the VA and how they...

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Will I ever get anything from Social Security?

This is a question I am asked all the time. Will I ever get a penny from Social Security? Most people have come to the conclusion that they won’t get anything. Everyone has heard about Social Security...

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Five questions to ask before moving in together

It’s Pride season and the summer of love is in full swing. You’ve met that special guy or gal. There’s even the possibility of moving in together. That’s amazing and exciting! However, don’t be too...

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Get help to pay off credit card debt

35 percent of Americans have a debt in collections according to a new study by The Urban Institute. This means people have not made payments on things like credit card debt, medical bills or even a...

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Don’t let hackers steal your money!

First it was the Target store data theft that occurred around the holidays last year. That was followed up with the Heartbleed virus. Now some group of Russian gangsters has stolen a billion user IDs...

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