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Financial Planning

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…

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New Year’s Planning List

The power of a 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 satisfaction…

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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…

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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…

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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…

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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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Don’t Make a Hacker’s Job Easier

With the proliferation of online access, weak passwords are the ultimate prize for hackers. Sophisticated software and extensive databases of common passwords create a virtual key ring of possibilities to crack logins. According to Live Consulting, a hacker can run 420 billion simple, lower case, 8 character password combinations in a minute. And if you…

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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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