Dollars & Sense Column - Orange Town News (Reprints)

Dollars & Sense: Tax Freedom in Retirement

(June 24, 2021) For Connecticut residents,“Tax Freedom Day” has come and gone.  That is the date each year that represents when we have worked enough to fully pay all our federal and state income tax liabilities for the calendar year.  In our state, working individuals achieved tax-freedom on April 25th of 2021.  Tax Freedom Day is specific to those who are still in the workforce.  But how and when can retirees achieve tax freedom?

Dollars & Sense: Helping Mom this Mother's Day

(April 29, 2021) We count on our Mom’s for so many things in life.  Think of all the sacrifices, time and love she has given over the years.  Moms truly are amazing people.  One of the greatest gifts a Mom gives is her advice.  Whether about etiquette, relationships, school, work or planning your wedding – all Moms love to give their children and families advice.  Moms are also very impressive as they have adapted so well to surfing the web, downloading apps on their phones, paying their bills on-line, posting and sharing photos on Facebook and have even mastered on-line shopping.  But…are they doing it safely?

Dollars & Sense: A Starter Guide to Selling Your House

(April 01, 2021) From the moment you decide to sell to the day you hand over the keys, selling a home is often unpredictable and time consuming. By being as prepared as possible, you can keep the process moving and achieve the optimal price in the current market...

Dollars & Sense: Falling in Love with Roth IRAs

(February 11, 2021) Everyone dreams of retirement in different ways.  Some of us dream of relocating down South where the weather is warmer and the expenses are lower.  Others envision staying close to family members.  We all dream of travel and pursuit of our hobbies and passions.  For some people, their retirement dreams will be funded from their retirement savings only after paying hefty taxes to Uncle Sam.  For others, their dreams will be funded completely tax free...

Dollars & Sense: Putting Your Finances First in the New Year

(January 14, 2021) In years past, New Year’s resolutions have primarily revolved around our health.  Whether that means increasing your fitness, weight loss or adding more meditation – resolutions to be healthier are number one.  After a year like 2020, health has become even more important, but what about your financial health?  According to “Fidelity’s 2021 Annual Resolutions” study, the top three financial resolutions were to save more money, pay down debt, and to spend less.  Financial resolutions are gaining popularity and becoming a necessity.

Dollars & Sense: A True Gift

(December 10, 2020) Gifting in its traditional sense rarely has strings attached.  When you purchase something for someone, and they don’t like the gift because it is the wrong size, color or brand, they can return the gift and or exchange it for something else they do like.  Once you give the gift, it is a completed transaction.  Gifting money is somewhat similar.  You can give someone the gift of cash, but you can’t tell them what they can or cannot do with the cash.  There are many myths surrounding “cash gifts” and what you can and can’t do.

Dollars & Sense: Saluting Our Caregivers During National Caregivers Month

(November 19, 2020) For 8 of the last 10 years, I have written the praises for our caregivers in recognition of National Caregivers Month.  This year, I am at a loss for words that could possibly express the thanks and gratitude that go out to our nation’s caregivers.  It is hard to imagine the strain that the pandemic has caused for these selfless individuals and their families.

Dollars & Sense: Don't Fall Behind in 2020

(October 1, 2020) “Disruption” seems to be another new phrase for 2020.  Did any of us plan for our lives to be this disrupted for such a long period of time?  We understand that each of us are all in the same boat these days and that as families, we are experiencing extreme circumstances.  As the world keeps turning, many of us have stood still.  We are waking up and realizing the many things we haven’t tended to in 2020 and how easy it is to neglect important things.

Dollars & Sense: Investing: Back to Basics – Version 2.0

(September 3, 2020) While it may appear that everything is different and the entire world has changed, some things will always remain the same, especially when it comes to basic savings and investments.

Dollars & Sense: Different Summer Reads 

(July 30, 2020) With summertime comes summer reading, but this year, summer reading does not have to be about reading books.  In 2019, there were 600 million blogs worldwide in a world of 1.7 billion websites. WordPress, a very user-friendly blog site, boosts 70 million posts each month.  Great blogs are current and without too much digging can be extremely relevant to your day to day lives, especially for retirees.  If reading a large book seems daunting or enjoying daily bite-size reading is more your style, then try one of these five interesting blogs:

Dollars & Sense: Independence Throughout Retirement

(June 25, 2020) Maybe it will take only a few questions to have a glimpse of how dependent or independent you will be throughout your retirement.  Joseph Coughlin, the director of MIT AgeLab created three basic questions to identify quality of life issues for retirement:  Who will change my light bulbs?  How will I get an ice cream cone?  Who will I have lunch with?

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