CGTC Blog

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A blog about keeping you up-to-date with the latest Financial Planning and Wealth Management news.

Adding a fur member to the family? Here are three commonly overlooked concerns.

Adding a fur member to the family?  Here are three commonly overlooked concerns.
First, can we financially afford adding a pet to our family? The simplest way is to start with a budget.  It is always best to slightly overstate the potential costs that will be incurred.  As a CERTIFIED FINANCIAL PLANNER™ Professional, I enjoy comprehensive research and running various scenarios to determine the best solution.       Let me save you time on gathering details for your pet’s budget. Initial costs vary greatly depending on if you are adopting from the Humane Society or opting for a designer pet from a breeder.  When it comes to adopting from a shelter, adoption fees range...
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2019 is the year to focus on your financial plan (and not the stock market)

2019 is the year to focus on your financial plan (and not the stock market)
This past December was one for the books — and not in a good way. On Christmas Eve, the S&P 500 index fell by 2.71 percent, making history as the biggest plunge to ever occur on the last trading day before Christmas. Did Santa Claus skip town? Now, talks of volatility in the stock market, federal interest rate hikes, U.S.-China trade negotiations and the U.S. government partial shutdown mark every headline. With all this noise, how is it possible to stay calm and carry on? If you are a long-term investor, the solution is exactly that: stay calm and stay...
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What might surprise you about your will.

What might surprise you about your will.
Most people have a general understanding of what a will is: a way to designate who will get which of your assets when you die. Many think the will is the principal governing document in your estate plan, but that’s not entirely true. Many assets don’t fall under a will or probate, and without considering those things, even the best will can be almost meaningless. Most people have accumulated real estate, have life insurance, have mutual funds (as part of or separate from a 401k or IRA), bank accounts, real estate, and other assets. In most or all of these...
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Building stronger client/advisor relationships on a personal level.

Building stronger client/advisor relationships on a personal level.
Within the financial services industry, opinion is mixed on whether wealth management professionals should give clients advice on personal matters, on issues that do not relate to the client’s economic picture. Some practitioners give this practice a wide berth, reasoning that giving personal counsel could lead to trouble or damage the advisor-client relationship, especially if the client disagrees with the advice or the recommendation works out badly. But here’s another way of looking at it: judiciously handled, extending guidance to a client on non-financial matters can strengthen the relationship and provide benefits for both client and financial professional. You have to...
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Want to leave money to a charitable organization? Here’s how to do it wisely.

Want to leave money to a charitable organization? Here’s how to do it wisely.
When planning their estates, many people want to remember a charity, cause, or organization with a monetary gift, an honorable impulse. But the vehicle you use to make the charitable bequest can have a great impact not only on your heirs, but also the organization you’re trying to support.   It’s a very common mistake to include all of your assets in a will or revocable trust, which can have unintended tax consequences. Fortunately, there are easy remedies.   Keep in mind that what your heirs will actually inherit after your demise are the assets you earmarked for them —...
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