Tag Archives: Financial Planning

Financial Planning Document Checklist

Recently someone in the office asked if we had a list of needed or handy documents for Financial Planning.  Ahhh.. No…

A post topic is born.Finanicial Planning Doc

Financial Planning Document Checklist

  • Tax Return
  • Estate Documents (Will, Trusts, Power of Attorney)
  • Life Insurance Policies
  • Company Benefit or health coverage information
  • Liability Insurance (Homeowners, auto and other)
  • Retirement Plan Documents and statements (401k, SEP, IRA …)
  • Pension Plan Documents
  • Social Security Benefit Statement
  • Option, RSU or Other specific company benefit
  • Investment Documents
  • College Savings Plans

While not exhaustive, this is a terrific start to the most handy and needed Financial Planning Documents!

Have a Great, more Financial Planning Organized, Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

Financial Planning Document Checklist

Recently someone in the office asked if we had a list of needed or handy documents for Financial Planning.  Ahhh.. No…

A post topic is born.Finanicial Planning Doc

Financial Planning Document Checklist

  • Tax Return
  • Estate Documents (Will, Trusts, Power of Attorney)
  • Life Insurance Policies
  • Company Benefit or health coverage information
  • Liability Insurance (Homeowners, auto and other)
  • Retirement Plan Documents and statements (401k, SEP, IRA …)
  • Pension Plan Documents
  • Social Security Benefit Statement
  • Option, RSU or Other specific company benefit
  • Investment Documents
  • College Savings Plans

While not exhaustive, this is a terrific start to the most handy and needed Financial Planning Documents!

Have a Great, more Financial Planning Organized, Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

 

 

 

Q2 2015 Newsletter Complete … Review and Video too!

The Q2 2015 Newsletter is complete and posted here and here with a short video explaining our main thoughts:Q 2 2015 Newsletter

  1. Younger generation financial planning and a special offer from us !
  2. Feels like 1998 or 1999 again … lots of charts
  3. Three LAST MINUTE tax ideas for 2014
  4. Commodities .. Black and Shiny Gold review along with our thoughts

Q 2 2015 Newsletter You Tube Picture

 

 

Watch for it in your mailbox, we hope you enjoy!

Today is a Friday, heading into a Master Golf Weekend … signaling spring is officially on the way!!

Enjoy your day and weekend !

John A. Kvale CFA, CFP

http://www.jkfinancailinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225
Video

April 2014 Financial Planning, Economic and Capital Market Review (Video)

Welcome to our monthly review of the latest events of the last four weeks. With the tax season being so rough and fresh on our minds, we start with a much-needed tax related Financial Planning Tip.

Click here if not visible

Vimeo Direct Link Here

Getting the Most Out of the Sales Tax Deduction

This months Financial Planning was once again straight from the field and this time from a relative.

Those using Schedule A, receive the benefit of deducting a pre-set amount of sales taxes based on your income, zip, and number of exemptions OR using your actual sales tax that you have paid over the year.

This is from the IRS’s website

If you didn’t save all your receipts, you can still choose to claim state and local sales taxes. You could fill out the worksheet and use the optional general sales tax tables in the Instructions for Schedule A (Form 1040) , but why not take the easy route and use the Sales Tax Deduction Calculator!

Take note of that friendly last comment from the IRS.  Most of the time the easy route is probably best, however if you have any of the following, consider double checking your “easy route” amount versus your paid:

  • Car Purchase, boat, aircraft or lease vehicle
  • Substantial additional renovation of home
  • Unusually large taxable purchase of any kind
  • Easily accessible receipts (often via debit cards or other easily traceable sources)

Capital Markets, Gold, or Rates ?

Recently I challenged a group as to what they thought were the most important item currently, choosing from the Dow, Gold or interest rates.

Hands down, interest rates. This is the 10 year treasury rate, seen hovering over the voodoo chart line.

10 Year Treasury 5-1-14

We are watching this closely as we just do not know why it is persistently staying so low. Late in April the FOMC lowered their bond purchases by another $10 billion monthly. Recall these purchases were to keep rates down. Doh… Seems as if rates do not know they should be rising.

Have a Great Day!

John Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225

March 2014 Financial Planning Money Saving Tip, Economic, Financial Review (Video) FINALLY

Welcome to our monthly review, which includes a video for further clarity and a lighter touch to the world of finance. At the beginning of this year we also added a special financial planning monthly tip to break up the monotony. Let’s get started.

BREAK IN: THIS VIDEO COMMENCES WITH AN ALL NEW AUDIO SYSTEM, SUCH THE DELAY,  WE ENCOURAGE YOU TO TAKE A MOMENT TO WATCH/LISTEN AT YOUR CONVENIENCE !

 Click here if you cannot see the video

Here for Vimeo

 

Cell Phone Pricing Wars Means Money In Your Pocket

This months financial planning tip came by accident from our own personal experience. Earlier this year the big two cell phone carriers commenced in a pricing war. Our discovery, originally from an investor standpoint, soon turned consumer. After multiple confirmations other than just ourselves, we feel certain we are on to something.Price War

The trick of this discovery is  you must log into your carrier and review your current plan. So far by pointing this out we have helped with several thousand dollars of savings.  Next time you pay your bill, take 30 extra seconds and click on your current plan, you may find significant saving are available.

Taxes – The Toughest Season in A Decade

This years taxes are the perfect storm for the following reasons.

  1. Tax payer relief act has sunset, diminishing many relief items.
  2. Phase Outs (restrictions of tax write-offs) are making for higher taxes due.
  3. AMT (alternative minimum tax) is making it’s presence known.
  4. Basis reconciliation is still troubling.Income Tax

This year, do not feel bad if your taxes are greater than years past and it is taking longer. The entire financial community has been slowed by this year’s tax season.

Market and Economic update

As mentioned in our cover letter and Q 2 2014 Newsletter, both on the presses and cyber ramp currently, the capital markets have gone no where so far this year. Bonds, the lumbering giants of safety have been the real winner in March as well as through the first quarter of the year.

10 Year Treasury W Trendline 4-8-14

 

Have a Great Day!

John Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225

January 2014 Financial and Economic Review Plus an all New Monthly Financial Planning Tip (Video)

Confidence left the capital markets with one possibly outlier economic report this month. While many have pointed to the Emerging Market Economies, looking closer we can see cross currents beginning at a different point and time.

January 2014 Video By John A. Kvale

http://youtu.be/K4YLVy3yA0A

Click here if all else fails

Vimeo Link

Break In — An All New monthly Financial planning Tip

After reviewing the HEAVY material from our most recent Q 1 2014 Newsletter and our recent monthly review video’s we have decided to insert a Financial Planning tip of the month. This tip will come from the trenches of recent questions and we hope to break up the monotony of the heavy material, we financial Nerds get so excited about. So here is our first hot tip.

The Personal Umbrella Policy

If you have any liabilities that may expose assets to bad people, you need a Personal Umbrella Policy.

An Umbrella Policy has the following characteristic:

  • Most commonly added to your homeowners policy
  • Inexpensive (Hundreds of dollars annually, not thousands)
  • Implementing an Umbrella policy confirms other policies are appropriate (Underlying liability coverage must be in place prior to adding an Umbrella policy)
  • Kicks in when trouble arises (Once other coverage is exhausted, the Umbrella begins)

For the annual price tag, the peace of mind this policy will give makes it well worth it most cases.  Ok … On to our regular monthly review.

the Non-Farm Payroll Bomb

With a consensus expectation of 200,000 new hires for the month of December, a print of 74,000 was where it all started.

Non Farm Payroll 1-10-14 Econoday

Recall the polar vortex we have all experienced. While the numbers are not SUPPOSED to reflect this, actions speak louder than words. This may be a one time event. Next Friday, February 7, 2014 we will get the January report, which will be very important. We will be watching closely.

INTEREST RATES ARE WORRIED

There are many sayings on Wall Street, often comparing Bond guys (can see their thoughts through interest rates) to Equity guys (can see their beliefs via Dow, S&P) most of which make fun of each other.

Interest rates are saying there is a problem. The FOMC is reeling in stimulus which should allow rates to rise, however they are falling. Bonds (bond investors) are saying we are heading into a serious slowdown. Equity markets ignored much of this until lately and then the many headlines blamed Emerging Market Currency fluctuations.

The peak in rates from this chart, directly co-insides to the above mentioned Non- Farm Payroll report. Right or wrong, it is pretty easy to see now in hindsight what started making equity markets nervous.

10 Year Treasury 1-31-14

There is a tug – of – war going on between Bond guys (feeling scared/negative) and Equity guys (feeling a slight slow) which only time will tell who is correct.

John Kvale CFA, CFP

http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225

The Rich Biggest Regret!

We always troll for interesting facts in our readings and when it comes to polls we really listen up.

Rich Biggest Regret Not Having A Financial Plan Sooner

A recent study of over 600 with investable assets of greater than $1 million found that 57% (their top priority) regret not having a “reviewable financial plan” sooner. This is of course music to our ears as we believe everyone should have a plan.regret

It is Never too Late to Start Your Financial Plan

Some of our greatest successes have come late in life for many in developing a plan.  Just because you do not start early does not mean you cannot be a success.

Financial Plan Helps ignore the noise

Let’s face it, we live in a moment by moment society, with even more speed demanded by the next generation (using my kids as an example.)

  • A Financial Plan helps focus on the long-term, ignoring the day-to-day hype
  • A Plan allows for adjustments as life’s curve balls are inevitably thrown
  • A Financial Plan helps keep tabs on historic foot prints and decisions

In closing, we do not know the context of the questions and given their findings it is very interesting to us. Had they had different findings, we would not be talking about it, but taken at face value we find this interesting but not disturbing as it is never too late!

Have a Great Monday!

John Kvale

http://www.street-cents.com
http://www.jkfinancialinc.com
8222 Douglas Ave # 590
Dallas, TX 75225