IL 529 Plans Rated Best in the Nation


A post from Illinois State Treasurer Michael Frerichs: I am very proud to announce that our 529 college savings plans have been rated best in the nation by independent analyst Morningstar. Bright Start received gold medal honors for the second consecutive year. Bright Start plans are purchased directly by individuals. Illinois’ Bright Start was one […]

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Check Your Withholding


Do a paycheck checkup. It is especially important this year because of all the tax-law changes that have occurred and likely will continue to occur for 2018. Your goal should be neither to owe a large amount nor to receive a large refund. IRS released a withholding calculator in February incorporating the tax-law changes that […]

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Mortgage Insurance


Because of the uncertainty over the 2017 tax deduction for mortgage insurance premiums, taxpayers may have received a Form 1098 (mortgage interest) without the number included. Now that Congress has decided to reinstate the mortgage insurance deduction, many mortgage lenders will be issuing corrected 1098 statements with the amount allocated to mortgage insurance premiums for […]

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Some thoughts as the Dow reaches 20,000


A 20,000 Dow – What does it mean? As with any milestone number, the Dow approaching 20,000 has many people excited but not sure what to do.  Should we buy in now because the stock market will go higher?  Or should we take gains to free up cash in case the market declines?  The simplest […]

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First Victory for the Fiduciary Rule


An early victory was scored for consumers last week when a federal court refused to place on hold the U.S. Labor Department’s “Fiduciary Rule.”  The rule, which will take effect next April, requires anyone giving advice on retirement accounts always to act in the best interests of their clients.  The ruling involved a case filed […]

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Changes to Social Security and the Impact on you


After receiving no cost-of-living adjustment (COLA) for 2016, the Social Security Administration announced on Tuesday, October 18th that benefit recipients shall receive a 0.3% COLA for the 2017 year.  This means an individual who received $15,000 in Social Security benefits for 2016, will now receive $15,045 for 2017.  These adjustments are made to keep pace […]

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Is it time to flee short-term bonds?


We couldn’t have said it any better than Catherine Gordon of the Vanguard Investment Strategy Group: “I also think that we often talk about trying to time the stock market. You know, is the market going to go up, is it going to go down? But trying to time the bond market is just as […]

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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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