blogbanner

Financial Planning

Spring Cleaning Your Finances

When spring fever hits and you are giving your house the top-to-bottom cleaning, don’t forget your finances! Review your budget. This is probably the most important piece, so start here.  Review your past few months spending.  Do you notice any problem spending areas?  Perhaps you need to adjust your budget on some items, increasing or…

READ MORE >

Harbor Wealth Management in Kiplinger: Retirees, Cover Yourself With Umbrella Insurance

Elyse Foster, CFP® of Harbor Wealth Management recently spoke with journalist Mary Kane about the importance of umbrella insurance for an article for Kiplinger. Consumers are often surprised by circumstances that can lead to their personal liability exposure, as well as the extent of that exposure, says Elyse Foster, a financial planner with Harbor Wealth…

READ MORE >

Insuring Your Remodel

By Carolyn Rice Planning a major remodeling project?  There are two good reasons to call your insurance company before you begin the project.  The first is to determine how your homeowner’s policy will need to be updated to cover the new additions made to the property when the project is finished. The second, the one…

READ MORE >

Financial Planning for Cancer Program

By Karen Didde Family Reach, an organization that provides assistance to families dealing with cancer, has developed the Financial Planning for Cancer Program by joining forces with the Foundation for Financial Planning.  The program’s objective is to help alleviate the financial burden of patients and families fighting cancer.  Family Reach works with patients and healthcare…

READ MORE >

New Year’s Planning List

The power of a financial plan:  Have one and stick to it!  If you don’t have one Harbor Wealth Management can help in the financial arena.  When life or the markets don’t cooperate, it is comforting to have a well thought through strategy to keep you moving toward your goals for the future.   The…

READ MORE >

SECURE Act

Setting Every Community Up for Retirement Enhancement (SECURE) Act The SECURE Act was passed by the House on 12/17/2019 and by the Senate on 12/19/2019. This bill is the biggest piece of legislation on retirement to be passed in a decade and many of its changes are going to come into effect as of December…

READ MORE >

My Child Wants To Go To College Where?

By Carolyn Rice Is your child yearning to go to college in the Marshall Islands but you have saved funds for their education in a tax-advantaged 529 education plan?  Never fear – your forethought and discipline will not be for naught! It is a common misconception that funds saved in 529 plans can only be…

READ MORE >

Should You Borrow from Your 401K for a Down Payment?

By Michaela Phillips For many Americans today, having inadequate savings to put toward a down payment is the predominant factor that prevents them from being able to purchase a home. This is particularly true among millennials. In lieu of spending years setting aside money for a down payment, another option is to take out a…

READ MORE >

Your Retirement Your Way – A 5 Year Plan

by Elyse Foster, CFP® Planning for retirement can be a daunting task, most of our attention is focused on daily decisions, obligations, enjoying our family and friends and before we know it we are at the end of our careers and need a plan for the years when we won’t be working, at our first…

READ MORE >

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…

READ MORE >