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! →

Cheryl Sherrard is featured speaker at February 2nd luncheon

Cheryl Sherrard, CFP will be speaking at the “Seasoned to Perfection” lunch group at Matthews United Methodist Church on February 2, 2016.  She will be speaking to the group about “Conversations on Aging” and the 5 essential conversations for families.  To have Cheryl as a speaker for your event, click here to contact us with the details.

Save for Retirement and Tackle your Student Loans

A recent Forbes.com article entitled “Yes, you can save for retirement and pay your student loans” featured advice by Cheryl Sherrard regarding the desired approach for tackling student debt while also saving for the future. An excerpt from the article follows: Fund your emergency savings account. Once you’re doing the basics in terms of retirement savings and student loan payments, start stashing money in an emergency savings account. If an unexpected event occurs, having a rainy day fund will keep you from borrowing from your retirement account or taking on credit card debt. “You’ve got to have a cushion for emergencies,” says Cheryl J. Sherrard, a certified financial planner and director of financial planning and clearview wealth management in Charlotte, N.C. Increase payments strategically. After you’ve got your emergency account squared away, you can start thinking about the best way to direct any additional funds. If you have high-interest, private student loans, using extra cash to pay those off first is a smart move. If your student loans have low interest rates, you may be off better putting money in the Read on! →

Top 10 Financial Mistakes Women Make

An article posted December 8, 2015 by Sallie Krawcheck highlights “The Top 10 Financial Mistakes Women Make”. Here are her top 3 mistakes; see if they apply to you. Letting your husband or partner manage the money without your involvement. Signing your joint income tax return without reading it. Using your husband’s or partner’s financial provider, even if you don’t really like/know/can’t stand him. For the complete article, click here. If you want to be empowered and educated about your own financial situation, contact a Clearview Wealth Management advisor to discuss.  

Beware of scam artists impersonating the IRS!

  A recent warning from the Internal Revenue Service, IR-2015-99 warns consumers about scammers’ attempts to impersonate the IRS and demand both money and information.  Be especially vigilant during the holidays to recognize scammers using fear tactics with the goal of separating you from your money.   WASHINGTON — Following the emergence of new variations of widespread tax scams, the Internal Revenue Service today issued another warning to taxpayers to remain on high alert and protect themselves against the ever-evolving array of deceitful tactics scammers use to trick people.   These schemes – which can occur over the phone, in e-mails or through letters with authentic looking letterhead – try to trick taxpayers into providing personal financial information or scare people into making a false tax payment that ends up with the criminal. It is important to remember the official IRS website is IRS.gov. Taxpayers are urged not to be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov.  Taxpayers should never provide personal information, financial or otherwise, to Read on! →