Personal Finance


By Lee Sherbakoff, CPA/PFS, CFP®, RICP® Regardless of whether you purchased your home long ago or have only been there for a few years, downsizing can be an enticing option for many people as they near retirement. There are plenty of reasons to sell and seek out a house that is smaller and a better lifestyle fit. On the flip side, there are also reasons to stay in your current home. Let’s look at some pros and cons so you can make the...

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“With regard to interest rates, we continue to expect that it will be appropriate to maintain the current 0 to ¼ percent target range for the federal funds rate…” — July 28, 2021, Statement by Jerome Powell, Chair of the Federal Reserve of the United States Inflation worries surface Inflation has not been a persistent and serious threat to the economy since the 1970s and early 1980s.  And that’s largely because the Fed knows how...

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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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