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We all have our own unique way of handling our finances. While some of us are natural born savers, others may have a hard time making it to the next paycheck. Fortunately, most of us fall somewhere in-between, putting away money at times, while making frivolous purchases at other times.

If you are looking for a way to help bolster your savings, here are a few suggestions that are easy to follow and may have you on the path towards a more sustainable savings balance in no time:

• Direct Deposit.  While it’s likely that you’re getting paid via direct deposit, consider making arrangements to have money deposited directly into your savings account as well. That way the money bypasses your wallet completely. You won’t miss what you don’t have and your savings account has the opportunity to grow much fast.

In Drive: The Surprising Truth About What Motivates Us, bestselling author Daniel Pink presents some of the most compelling and useful research in the field of in human motivation. One section, “The Good Life,” is particularly enlightening in regard to how we as individuals establish and pursue our life goals. Pink makes the point, and science confirms, “Satisfaction depends not merely on having goals, but on having the right goals.”

We are excited to share that Marquis Who's Who, the world's premier publisher of biographical profiles, recognized William "Bill" T. Morrissey, CFP®, AEP®, with the Albert Nelson Marquis Lifetime Achievement Award.

As in all Marquis Who's Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during the selection process.

You can view the full press release here.  

Most adults are increasingly experiencing a time crunch. The result is mounting stress and compromised health and vitality. And yet, despite their best efforts, many individuals express frustration about not being able to bring tasks to completion or having enough time to focus on what or who is most important to them.

Scientists have even coined the term “time famine” to describe the pervasive feeling of being overwhelmed with the demands of work and life. Studies have shown that people who frequently feel they “don’t have enough time” (time scarcity) are less happy and more prone to anxiety and depression than people who report feeling time affluent. In addition, public health researchers have ranked time stress as one of the most important social trends underlying rising rates of obesity.

As we settle into the final quarter of the year there are important dates you need to remember.

RMDs
If you are over the age of 70 ½ and are required to take a minimum distribution from your IRA and have not done so, the distribution must be completed by December 31st. Unless we already know your distribution wishes we may be in contact to ensure we get this completed.

You can also donate up to $100,000 to charity directly from your IRA when you are over 70 ½ years old without counting the distribution as taxable income.
This distribution can be counted as part of your required minimum distribution as well. Please call us if you have any questions.

Any Roth conversions must be completed by December 31st.

It has been a busy time at Sound Financial Planning and we wanted to share some updates with you. 

Whealthcare Planning - This is a financial caretaking tool that provides proactive aging strategies for preventing financial abuse and preparing clients for the transition of financial decision-making authority. It is important to understand that people age different, at different times, in different ways. Some of that aging process can be unpredictable, so planning and being prepared is important. We are excited to share with you this new tool that addresses the specific types of concerns that people face as they get older regarding their wealth and their health. It offers information on:

• Dealing with living transitions
• Topics on various possible health events
• Other financial issues associated with aging and longevity

As we say goodbye to the first quarter of 2018 we hope that we can also say goodbye to the colder weather and look forward to Spring!  To get a jumpstart on the warmer months, Bill took a trip to Australia and New Zealand in January and enjoyed seeing stunning sights such as the Great Barrier Reef in Australia and Milford Sound in New Zealand.

Meanwhile, back in the office we are also very eager to announce the addition of the Whealthcare Planning program to our financial services.  This online tool allows us to help older adults and their families make better financial decisions by implementing health care into their wealth planning strategies.  There is a Financial Caretaking Plan, Whealthcare Risk Profile, and a Proactive Aging Plan that will help make sure that we are doing everything we can to protect our clients from health- and age-related factors that jeopardize financial decision-making and family wealth.
Please don’t forget about our upcoming Annual Appreciation Event on Thursday, June 21st, from 4pm - 6pm.  See page 3 for more details!

- Bill and Tammy

Read the Entire Newsletter Here. [PDF]

Since the turn of the last century, improved nutrition and advances in medicine and healthcare have added 30 years to our average life expectancy. Without question, this is a remarkable achievement, but one that also requires each of us to think differently about “old age” and how we choose to live our lives. 

Most people are quick to make a long list of new habits and “to-do&r

We were recently featured in an article in Advisors Magazine.  To see what Bill and Tammy had to say about Educating Youth: Key to Changing American Spending Habits view the full article here.

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