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Financial Planning

HSAs – Not Just a Handy Savings Account

Most people think of their Health Savings Accounts (HSA) as just a handy, tax deductible savings account to pull funds out of to pay medical bills.  But is there a better way to use your HSA?  If you have the means to pay your medical bills out of pocket (or the good fortune to be…

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Do Your Financial Documents Spark Joy?

Thanks to Marie Kondo’s decluttering philosophy, I am not able to look at anything without thinking “But does it spark joy?” Although financial documents and records may not spark joy, here are some tips to determine what should be kept.  First and foremost, if you haven’t already opted to go paperless, consider it and lessen…

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Retirees Need Emergency Funds Too

Writing for Kiplinger, Mary Kane consulted with several wealth management professionals including Elyse Foster, CFP® of Harbor Wealth Management regarding emergency funds for retirees. You may think of an emergency fund as the cash stash to keep when you are working, with employees typically advised to save six months’ worth of living expenses in the…

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Protecting Yourself With a Fiduciary Planner

Great infographic from the National Association of Personal Financial Advisors (NAPFA) about a FIDUCIARY and why it’s important.  See the original link here. Harbor Wealth Management is a Registered Investment Advisor (RIA) and are held to a fiduciary standard of care at all times.  We will always act in the best interest of our clients.…

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Including Digital Assets in Your Estate Planning

Published February 7, 2019 Investopedia Congratulations! You have drafted a will and filled out answers to questions regarding who assists you if you are unable to make financial and medical decisions for yourself. You may have even completed a living will and the more advanced medical directives. Are you finished? I’m afraid not. Planning for digital assets has become an important addition…

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Financial Resolutions for 2019

As 2018 came to a close, many began to think about how they would plan to make 2019 a better year. The practice of making resolutions is one that casts a lot of hope and motivation for the New Year is a chance to start again and think about how you can grow and develop…

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The Basics of a 401(k) Retirement Plan

Writing for Investopedia, Mark P. Cussen consulted with several wealth management professionals including Elyse Foster, CFP® of Harbor Wealth Management and found many circumstances to ponder.   Since its inception in 1978, the 401(k) plan has grown to be the most popular type of employer-sponsored retirement plan in America. Millions of workers depend on the money that they have saved…

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Why Saving 10% Won’t Get You Through Retirement

Writing for Investopedia, Vanessa Page consulted with several wealth management professionals including Elyse Foster, CFP® of Harbor Wealth Management.    Retirement experts and financial planners often tout the 10% rule: In order to have a good retirement, you must save 10% of your income. The truth is unless an individual plans to go abroad after…

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Saving for College: what are my options?

The first and most important step is deciding to save.

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Personal Financial Planning Program

New program offered at Leeds School of Business

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