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Author Archive | Mark Shelby

Choosing the right Life Insurance Policy

Avoid These Life Insurance Missteps

Shop wisely when you look for coverage. Are you about to buy life insurance? Shop carefully. Make your choice with insight from an insurance professional, as it may help you avoid some of these all-too-common missteps. 1. Buying the first policy you see. Anyone interested in life insurance should take the time to compare a […]

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Norfolk Virginia Navel Base

Thrift Savings Plan (TSP) Withdrawal Options are Changing

New rules could soon mean more flexibility. By 2020, federal employees with Thrift Savings Plan (TSP) accounts should have new withdrawal choices for their invested assets. New rules are scheduled to be implemented through the TSP Modernization Act, permitting TSP participants more flexibility.[1] The TSP withdrawal rules have been strict for many years. Too strict, […]

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Financial Planning for College Graduates

Smart Financial Steps After College

Did you recently graduate from college? The years after graduation are crucial not only for getting a career underway, but also for planning financial progress. Consider making these money moves before you reach thirty. Direct a bit of your pay into an emergency fund. Just a little cash per paycheck. Gradually build a cash savings […]

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Medical deductions for 2018

The Medical Expense Deduction in 2018

If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical expense deduction returns to 10% of AGI. (The Tax Cuts & Jobs Act of 2018 also allowed the 7.5% threshold […]

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keeping tax documents

Which Tax Documents Should You Keep?

Fewer taxpayers are itemizing in the wake of federal tax reforms. You may be one of them, and you may be wondering how many receipts, forms, and records you need to hold onto for the future. Is it okay to shred more of them? Maybe not. The Internal Revenue Service has not changed its viewpoint. […]

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Retirement Spending

Retirement Spending Changes with Time

Once away from work, your cost of living may rise before it falls. New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern is legitimate. Many households “live it up” and spend more than they anticipate as retirement starts […]

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