Haven Financial Solutions

Haven Financial Solutions A fee-only investment management and financial planning service In Evanston, IL

My dad used to keep large amounts in his checking account (no interest) and a passbook savings account (4%, if I remembe...
03/19/2024

My dad used to keep large amounts in his checking account (no interest) and a passbook savings account (4%, if I remember). Whenever I wanted to talk about investments, he’d tell me to “go blow”, and how happy he was that his money was safe and he wasn’t losing anything. Then he got into the hands of a charming broker, who (he pointed out) called him more often than I did....

My dad used to keep large amounts in his checking account (no interest) and a passbook savings account (4%, if I remember). Whenever I wanted to talk about investments, he’d tell me to “go blow”, and how happy he was that his money was safe and he wasn’t losing anything. Then he got into the

09/28/2023

I hear all versions of opinions on retiring—it ranges from “as early as possible” to “never”. While this is primarily directed to people who can afford to consider it, that is definitely not the case with everyone. So first, some factors in deciding whether you can afford it at all: Do you have enough guaranteed income to cover (at least) your fixed expenses?...

The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

Dollar cost averaging is contributing money to an investment over time, rather than plunking in a big chunk at one time....
05/01/2023

Dollar cost averaging is contributing money to an investment over time, rather than plunking in a big chunk at one time. You might designate a specific amount to be invested each month (or week, or quarter). Conversely, you might put in your whole amount at the beginning or end of year, or whenever you get that bonus or pension payout or inheritance....

Dollar cost averaging is contributing money to an investment over time, rather than plunking in a big chunk at one time. You might designate a specific amount to be invested each month (or week, or quarter). Conversely, you might put in your whole amount at the beginning or end of year, or whenever....

I hear these all the time. Maybe you know all this already, but there’s a lot of misinformation and outdated information...
02/22/2023

I hear these all the time. Maybe you know all this already, but there’s a lot of misinformation and outdated information, so browse through this as a self-check! 1. You can collect at 65. Well, technically true—in fact, you can collect at 62, but you’re going to give up a lot. The full retirement age is NOT 65 and hasn’t been since the year 2000....

I hear these all the time. Maybe you know all this already, but there’s a lot of misinformation and outdated information, so browse through this as a self-check! 1. You can collect at 65. Well, technically true—in fact, you can collect at 62, but you’re going to give up a lot. The full retirem...

The so-called Secure Act 2.0, signed into law December 29, 2022, has changed some of the basics of retirement programs f...
01/27/2023

The so-called Secure Act 2.0, signed into law December 29, 2022, has changed some of the basics of retirement programs for 2023 and beyond, so do be aware. The maximums you can contribute have gone up, and this may be the greatest benefit for most people who can afford to contribute. 1. Roths now have a contribution of $6,500, with a $1,000 additional catch-up if you’re over 50....

The so-called Secure Act 2.0, signed into law December 29, 2022, has changed some of the basics of retirement programs for 2023 and beyond, so do be aware. The maximums you can contribute have gone up, and this may be the greatest benefit for most people who can afford to contribute. 1. Roths now ha...

Change your thinking! Don’t get stuck following old rules. Tax-favored college savings plans (know as 529s) have had sev...
11/30/2022

Change your thinking! Don’t get stuck following old rules. Tax-favored college savings plans (know as 529s) have had several changes in the last couple of years, and more are upcoming for 2023-2024. 1. You can use them for a kid’s elementary and high school tuition, whereas they were only available for college in previous years. Why would you want to do this?...

Change your thinking! Don’t get stuck following old rules. Tax-favored college savings plans (know as 529s) have had several changes in the last couple of years, and more are upcoming for 2023-2024. 1. You can use them for a kid’s elementary and high school tuition, whereas they were only availa...

Depending on what you choose, hobbies can be expensive. If your hobby requires a great deal of expensive equipment and t...
05/20/2021

Depending on what you choose, hobbies can be expensive. If your hobby requires a great deal of expensive equipment and travel (such as skiing or sailing), it’s going to take some careful scrutiny to fit that into a budget. It’s all going to have to come out of your discretionary budget, and only after savings have been fully funded. I might contend that sometimes the collecting of materials for a hobby is actually a hobby in itself....

Depending on what you choose, hobbies can be expensive. If your hobby requires a great deal of expensive equipment and travel (such as skiing or sailing), it's going to take some careful scrutiny

Many of us tend to blame every disaster on ourselves. Except for the few who thing everything is the other guy’s fault. ...
09/03/2020

Many of us tend to blame every disaster on ourselves. Except for the few who thing everything is the other guy’s fault. Even in this pandemic, I hear a lot of people blaming themselves for losing their job, or making bad investment choices, or not seeing it coming. If you’re making a financial plan, it’s very important to be realistic about what you can control and what you can’t. [ 551 more words ]

Many of us tend to blame every disaster on ourselves. Except for the few who thing everything is the other guy's fault. Even in this pandemic, I hear a lot of people blaming themselves for losing

It hasn’t been covered much, but charitable donation deductions were almost eliminated for the middle class in the tax “...
08/25/2020

It hasn’t been covered much, but charitable donation deductions were almost eliminated for the middle class in the tax “reforms”. You can only deduct your charitable contributions if you decide to itemize, and your allowable itemized deductions exceed $12,000 for a single and $24,000 for married filing jointly—and remember, all state and local taxes are capped at $10,000, no matter what your property tax is. [ 660 more words ]

It hasn't been covered much, but charitable donation deductions were almost eliminated for the middle class in the tax "reforms". You can only deduct your charitable contributions if yo

A recent New York Times article opined that big office tower landlords are really nervous that tenants will never come b...
05/13/2020

A recent New York Times article opined that big office tower landlords are really nervous that tenants will never come back, or greatly reduce their rental footprint. Why? Because companies have discovered that many employees can work from home. You betcha. The comments on this article were starry-eyed positive—yay, great, I love the freedom and flexibility! No boss looking over my shoulder! [ 1,050 more word ]

A recent New York Times article opined that big office tower landlords are really nervous that tenants will never come back, or greatly reduce their rental footprint. Why? Because companies have disco

But maybe not in a good way. Every third Facebook post or so mentions that ole’ Jeff should give away his billions and t...
05/04/2020

But maybe not in a good way. Every third Facebook post or so mentions that ole’ Jeff should give away his billions and that would fix everything. I used to hear this about the Catholic Church, but Bezos is become the new favorite target. Why shouldn’t he—after all, Bill Gates and Warren Buffett give away buckets. Here’s where you come in. [ 888 more words ]

But maybe not in a good way. Every third Facebook post or so mentions that ole' Jeff should give away his billions and that would fix everything. I used to hear this about the Catholic Church, bu

Address

Evanston, IL
60202

Telephone

+18478642761

Website

Alerts

Be the first to know and let us send you an email when Haven Financial Solutions posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Haven Financial Solutions:

Shortcuts

Share

Category