Personal Finance


By Lee Sherbakoff, CPA/PFS, CFP®, RICP® The American dream of owning a home—complete with a white picket fence—dies hard; after all, it’s that iconic symbol of financial independence. And with record-low inventory, low interest rates, and high demand, (1) the housing market is currently booming now more than ever. Since most of us don’t have the luxury of purchasing a house in full, after the stress and drama of house hunting is over,...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® You’re likely experiencing a range of emotions regarding your newly acquired inheritance. Losing a loved one is painful, but inheriting money can be a blessing. An inheritance can improve your financial situation and bring peace of mind—it can also be a reminder of your loved one’s legacy and their love for you. Sometimes people who receive an inheritance don’t know how to properly manage it. In...

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“Optimism is essential to achievement and it is also the foundation of courage and true progress.”– Nicholas M. Butler, American philosopher, diplomat, and educator. Technically, the economy is still in a recession. The contraction started in March 2020 just after the February peak. The National Bureau of Economic Research (NBER), the arbiter of recessions and economic recoveries, has yet to declare the recession is over. When...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® We all dream of a fulfilling retirement, but that dream doesn’t become a reality without years of diligent planning and saving. And there’s no better retirement savings vehicle than a 401(k), into which I’m sure you’ve been socking away your hard-earned dollars year after year. But what happens to this money if you switch to a new job? The days of sticking with one company for an entire career...

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It’s a lie and it’s a scam.— Lenny Kravitz, American singer-songwriter “Slam the Scam” Day Thursday, March 4, 2021 has been designated as the second annual National “Slam the Scam” Day. The goal is to raise public awareness of government imposter telephone scams, which continue to spread across the United States. Last year, the Social Security Administration (SSA) received over 718,000 reports of Social Security-related telephone...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® Are you planning on Social Security making up a significant portion of your retirement income? If so, you’re in the same boat as almost half of Americans over the age of 50. (1) With a program that impacts the lives and finances of so many, you would think people would be more prepared to claim their benefits, but unfortunately, that’s not the case. Close to 63% of future retirees are not...

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