Just Dating? 3 Money Topics to Discuss before you get Serious!

Cheryl Sherrard, CFP was quoted recently in a Learnvest article by Meghan Rabbitt, entitled, “Just Dating?  3 Money Topics to Discuss before you get Serious”. Dating discussion #1 included talking about your family money histories. For instance, if he grew up with no money, he may have an inordinate fear of never having enough. On the flip side, if his parents always forked over cash, he may have never learned to delay gratification, says Cheryl Sherrard, a Certified Financial Planner™ (CFP®) and director of financial planning for Clearview Wealth Management in Charlotte, N.C. Knowing what shaped his views can help you compare his experiences to your own and see where your differences may lie. “I think people tend to assume that everyone else will deal with money the same way they do, and don’t think about the fact that money—or the lack thereof—can carry huge emotional ties as well,” Sherrard says. Dating discussion #2 focused on your Debt Situation. Debt can be a squirm-inducing, four-letter word in the realm of dating. But it ranks high on the list of important Read on! →

Mimi’s cathedral quilt and asset class performance

My grandmother was exceptional in many ways.  She was full of life and quick to speak her mind, despite who might be within earshot.  For as long as I can remember, she was a seamstress at a local women’s clothing store making adjustments to colorful textiles until they fit “just right”.  It was always a special treat to visit her at Bright’s and explore the lofted balcony where she and Ms. Coreen worked to fine tune hemlines, inseams and sleeve lengths. Mimi’s work to outfit the ladies of Paducah did not stop at Bright’s.  Many family dinners and visits included talk of fabrics, McCall patterns and sales at Hancock’s,  Paducah’s one and only (I think) fabric store.  This love of cloth and sewing spilled over to all family members in the form of shirts, blouses and dresses.  As a teenager, I am sure some of the outcomes (think leisure suit) and fabric choices were greeted with a somewhat forced smile and gratitude. As her grandchildren grew and the need for clothes (that she knew we would wear) waned, she shifted Read on! →

April 29, 2016 is a new Social Security deadline. Does it apply to you?

A little know congressional act which became law late in 2015 affects some of the most popular Social Security strategies and may directly impact you.   You need to understand whether or not the new rules apply to your situation and whether you need to take action with Social Security by the April 29th deadline. The rule changes to Social Security are the result of the Bipartisan Budget Act of 2015, which was enacted on Dec. 17th, 2015.  This Congressional Act was not focused on Social Security but nevertheless, impacted many individuals and couples because of a few key provisions within the new legislation.  The act changes the rules in two key areas of Social Security benefits strategies. File and Suspend.  (In this strategy the person making the election is not requesting benefits for themselves, but is only activating benefit eligibility for family members who may benefit from that person’s earnings record) The file and suspend option in Social Security (SS) allowed an individual covered by SS to file for and then immediately suspend their own benefit, thereby making other family members Read on! →