How Financial Advice Helps People Get Ahead


Eighty-six percent of Americans who get advice take positive steps toward improving their financial well-being, according to a new survey by TIAA-CREF. More than half change their spending habits, increase the amount they save each month and even establish an emergency fund. What’s more, two-thirds of those who get advice say they feel optimistic about […]

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Congress Finally Extends Tax Breaks for 2014


Well, finally. Congress on Tuesday night extended dozens of expired “temporary” tax breaks for 2014. It took the Senate, by a 76 to 16 vote, until the week after Congress was supposed to adjourn to pass the bill, which the House had already approved. The bill will now be sent to President Obama, who is […]

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Mentor Monthly Missive – December 2014


Mentor Monthly Missive – December 2014

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www.ChicagoFeeOnlyFinancial.com


We are happy to announce the launch of a new website focusing on Fee-Only financial planning in the Chicago area. In cooperation with seven other advisors, John Davis and Dan Carey hope to make it easier for consumers to get objective advice about managing their personal finances. We are committed to providing these services to […]

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Mentor Monthly Missive – November 2014


Mentor Monthly Missive – November 2014

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November Market Commentary from Vanguard & Co


There weren’t many tea leaves to read for the U.S. economy in this week’s relatively short list of economic reports. Retail sales rose modestly, as did inventories. But there was news from abroad with potentially significant impacts for the global economy. During President Obama’s trip to China, progress was announced on eliminating tariffs on a […]

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Transferring Retirement Risk


Risk transfer is an important element of the wealth management process. When you pay another party to insure against catastrophe, it can be a good move Paying an insurance company a reasonable amount to ensure that you won’t go broke in retirement can also be smart. The cost, which is your agreement that your heirs […]

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2015 IRS Retirement Plan Limits


The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2015, and this year there’s extra room for savings for wage and salary types and the self-employed. If you have a 401(k), a SEP-IRA, or a SIMPLE, pay attention and if you can swing it, bump up your contributions to the new max. […]

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Why ‘annuity’ is not always a dirty word


Financial independence means living the lifestyle you choose without fear of running out of money. Whether to work becomes a choice, rather than an obligation. Activity (travel, hobbies, volunteering) does too. Worst case from a lifestyle point of view is dying too soon. From a purely financial point of view, it’s living too long. One […]

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Mentor Monthly Missive – October 2014


Mentor Monthly Missive – October 2014

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