1

I presented at Woodside High School’s a few years ago – talking about my career in financial planning. The kids were terrific and the staff put on an event packed full of presentations by colleges, trade and art schools and career advice from community members.

One of the other presenters is a financial aid counselor at Stanford who has started teaching a personal finance class to graduating seniors at Stanford. The curriculum requires students to create a budget based on their research of actual living costs – tax deductions from salary, health insurance, dental bills, food, rent – and assumes a salary of $45,000. (more…)

Ambivalent Feelings About Retirement

Retirement will trigger changes in every area of your life.  As you anticipate and prepare for this stage of life, you are likely to look forward to certain changes and to dread others.

In fact, it is not uncommon for individuals to experience many ambivalent feelings about retirement because of the significant transitions they anticipate. (more…)

The Secret to Realizing Your Dreams

In his book Getting Things Done, author David Allen wrote, “We know that the focus we hold in our minds affects what we perceive and how we perform.”

Therefore, as you visualize the lifestyle and quality of life that you would like to have in the future, always remember that the secret to realizing your dreams is to maintain that image in your mind.

In fact, the greater your understanding of what is important to you, the easier it will be to “paint a picture” in your mind of what you are working toward.  Whatever you identify and claim for yourself will become the basis for your life goals. (more…)

Buying Life Insurance: How Much and What Kind?

life-insurance-umbrellaYou are likely to need life insurance if others depend on you for financial support, if you provide your family with such services as child care, if you need to consider protecting a surviving spouse or if you have accumulated substantial assets. There are several types of life insurance that you may want to consider. (more…)

Taxes Aren’t Due for Months, so Now is a Great Time to Think about Them

Tax planning is like exercise: You may not always be motivated to do it, but once you’re tackled the task, you feel so much better. (And fortunately for everyone, you don’t need to do tax planning several times a week, consistently, to see a lasting benefit.) I’ve asked Matt Grodin, a San Mateo certified public accountant, to answer three taxing questions:

What are some of key changes in the federal tax law that will affect Bay Area taxpayers?

There’s a $10,000 limit on deductions for state taxes and a $750,000 limit for deductions on new mortgage debt. Previously, home buyers could deduct up to $1 million. As you know, home prices in the Bay Area keep rising to new heights—the median home price hit $820,000 in April—so any restriction on mortgage deductions isn’t exactly good news. (more…)