Tag Archives: Money Matters

2017-money-matters-feature-generic-for-articles

Money Matters | Elder Financial Abuse: The Silent Crime

 

Michelle Floyd, CFP, Financial Consultant

Michelle Floyd, CFP, Financial Consultant

Elder financial abuse has the potential to impact all of us on some level. Whether you are protecting a loved one from becoming a victim or actively taking precautions to protect your personal estate, fraud and exploitation is a risk that grows as people age.

It is important for individuals to understand the magnitude of this crime, identify ways to both actively prevent and stop abuse, as well as understand how to escalate if it is suspected.

Understand. Seniors lose an estimated $36.5 billion every year to the crime of elder financial abuse.i In fact, according to the 2010 Investor Protection Trust (IPT) Elder Fraud Survey, more than seven million older Americans — one out of every five over the age of 65 — have fallen victim to a financial swindle. [i]i As Baby Boomers turn 65 at a rate of 10,000 a day, the threat of potential abuse heightens.

It is imperative we take preventative measures to confront this epidemic, including educating ourselves on the potential warning signs and using the resources and tools available to stop fraud and abuse from occurring.

Identify. Spotting exploitation can be difficult as the perpetrators of these crimes tend to be close friends or relatives. Studies project that approximately 70 percent of elder financial abuse is committed by family members, friends, trusted persons or others known to the individual being exploited.[ii]i This increasingly blurred line of those who have one’s best interest at heart and those who don’t makes spotting these scams a challenge.

Here are a few warning signs:

  • Sudden reluctance to discuss financial matters
  • Sudden, atypical, or unexplained withdrawals or wire transfers from their accounts, or other changes in their financial situations
  • New best friends and “sweethearts”
  • Behavioral changes, such as fear or submissiveness, social isolation, withdrawn behavior, disheveled appearance, and forgetfulness
  • Changes in the will, especially when they might not fully understand the implications
  • Large, frequent “gifts” to a caregiver
  • Missing personal belongings

Report. Reporting is single-handedly the most important step to escalating suspected elder financial abuse. Studies show that as few as one in 44 cases of elder financial abuse are reported.iv Victims tend to keep details secret for a number of reasons – fear of being victimized again, reluctance to incriminate a family member or friend, or admitting vulnerability are among them. To properly report suspected elder financial abuse, contact a state agency or the National Center on Elder Abuse.

Remember, elder financial exploitation is not exclusive. Consider the below to help protect yourself from potential abuse:

  • Organize your estate. No matter how old you are, it’s a good idea to update and organize all your financial documentation, including your will, financial powers of attorney, real estate deeds, insurance policies, pension and trust documents, birth and marriage certificates, and Social Security paperwork. Maintaining an organized file, and helping others (such as a parent, uncle or close friend) do the same, can make it easier to spot the inconsistencies and red flags that could signal financial abuse.
  • Make a list of financial contacts. Bankers, insurance agents, attorneys, accountants, stockbrokers, and other professionals should be on it. Share your list with these professionals and with family members you trust. In addition, ensure you have a trusted contact on file. This is an individual who the advisor could contact in the event of an emergency or suspected abuse.

i True Link Financial. “True Link Report on Elder Financial Abuse,” 2015.

ii Investor Protection Trust (IPT). “IPT Elder Fraud Survey,” 2010.

iii Jewish Council for the Aging, National Center for Elder Abuse. Paley Rothman article, “Who Commits Elder Financial Abuse and Why Isn’t It Reported?” 2016.

iv National Adult Protective Services Association. “Policy and Advocacy.” www.napsa-now.org. 2017.

 

This article was written by Wells Fargo Advisors and provided courtesy of Michelle Floyd, CFP®, Financial Consultant with Axiom Financial Strategies Group in New Albany, IN 47150 at 812-948-8475.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

© 2017 Wells Fargo Clearing Services, LLC. All rights reserved. 0617-01508

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Money Matters | Is Divorce on the Horizon?

Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, Ind.

Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, Ind.

A divorce is obviously an emotionally charged time for you and your family. You’re juggling a lot of arrangements and financial details. Most divorce attorneys suggest thinking about how to divide your financial responsibilities as early as possible ‒ particularly if you have shared debt.

Look at shared debt. With the help of a mediator and/or your financial advisor, you may be able to decide which of you will take which debts. You may consider paying off or closing any credit accounts before you divorce. Most states allow you to settle debt issues between you. If you can’t come to an agreement and the court has to decide for you, the divorce can get very complex and expensive.

Another reason to be proactive about your shared debt: It can help you both maintain good credit ratings after your split and, perhaps most important, prevent uncomfortable conversations about unresolved debts with your ex-spouse in the future.

Get help as soon as you consider a separation. Meet with your financial advisor at the first hint of impending separation. A good financial advisor will be compassionate and willing to remain neutral if he or she serves both you and your soon-to-be-ex. Your advisor can revisit your investment portfolio and do a cash-flow analysis to illustrate what you might draw as future income. He or she can also offer advice about which shared debts might be best for you to take on (or avoid), given the amount of risk with which you are comfortable.

Start with your credit report. A smart way to begin reviewing your debts is to request a copy of your credit report so you can verify which liabilities are in your name. If your spouse is willing to share his or her credit report, that can help you get a full breakdown of all shared debts. Your obligations might include assets such as a primary home, vacation home, vehicles, credit cards and lines of credit, family business–related debt, and possibly student loan debt.

Once you have a full picture of your debts and assets, you can discuss dividing them.

What about the house? Research confirms most divorcing women want to keep the matrimonial home whenever possible, especially when children are still living there. The spouse who keeps each home should also take responsibility for its loan, refinancing it in their name if at all possible.

Information is important to handling debt well during a divorce. One situation where you might have to continue working together with your ex-spouse on a shared debt is if you have an unresolved tax obligation. You should talk to the IRS about setting up separate payments on that joint debt.

You may not agree on how to split contentious debts, such as secret credit card debt created by your spouse. In that case, your state’s laws will come into play. For instance, in most states, ownership of debts is decided by “equitable distribution.” A judge or mediator assigns debts to spouses according to factors such as who signed for it, got greatest value from it, or has the larger income.

Overall, information is the most important key to handling debt well during a divorce. Collect tax returns, credit reports, and bank and brokerage statements as early as possible. The more you know about your marital finances, the easier it should be for you to negotiate over outstanding debts at the settlement table.

 

This article was written by/for Wells Fargo Advisors and provided courtesy of Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, IN at 812-948-8475.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

© 2017 Wells Fargo Clearing Services, LLC. All rights reserved.  CAR 0217-04883

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Money Matters | Focus on Year-End Tax Planning

 

Michelle Floyd, CFP, Financial Consultant

Michelle Floyd, CFP, Financial Consultant

Our company is committed to helping you succeed across all areas of your financial life.  Here are five considerations to think about when it comes to tax planning.

Five areas to consider at year-end:

  1. Analyze your investment portfolio.
  • Review your portfolio to help ensure your allocation still aligns with your goals.
  • Assess tax consequences if you have sold assets earlier in the year.
  • Review tax-loss selling strategies if you have capital gains but wish to keep exposure to a depreciated sector or security.
  1. Manage your taxes.
  • Evaluate the pros and cons of deferring taxable income, if you expect to be in the same or a lower tax bracket next year.
  • Talk to your CPA about increasing your tax deductions.
  1. Maximize your tax-saving opportunities.
  • Consider increasing your retirement savings for the year.
  • Find the right type of IRA for you.
  • If suitable for your circumstances, consider consolidating your assets.
  • Take advantage of an FSA or HSA for health care expenses.
  1. Protect what matters.
  • Review your insurance coverage to help make sure it is adequate for your needs.
  • Review your beneficiary designations and make any necessary adjustments due to life changes (i.e., marriage, divorce, birth of child/grandchild, death, etc.).
  1. Leave a legacy.
  • Review your estate plan to help ensure it is aligned with your wishes.
  • Think about creating or adding to a tax-advantaged college savings plan.
  • Consider developing a plan to complete charitable and family member gifts by year-end.

Taking the time to create, review, or update your investment plan can help you reach your short-term and long-term financial goals. Contact us to schedule a review of your financial situation.

Wells Fargo Advisors is not a legal or tax advisor. However, we will be glad to work with you, your accountant, tax advisor, and/or attorney to help you meet your financial goals.

This article was written by/for Wells Fargo Advisors and provided courtesy of Michelle Floyd, CFP®, Financial Consultant with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, IN.  She can be reached at 812-948-8475.  Visit our website at www.AxiomFSG.com.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

© 2017 Wells Fargo Clearing Services, LLC. All rights reserved.   0817-02327

 

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Money Matters | Which Retirement Plan Is Right for Your Business?

By Todd Harrett | Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany

Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, Ind.

Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, Ind.

If you own a small business, there are many retirement plan alternatives available to help you and your eligible employees save for retirement. For most closely-held business owners, a Simplified Employee Pension Individual Retirement Account (SEP IRA) was once the most cost-effective choice. Then the Savings Incentive Match Plan for Employees (SIMPLE IRA) became a viable alternative. Today you may find that a defined benefit or 401(k) plan best suits your needs. To make an informed decision on which plan is right for your business, review the differences carefully before you choose.

Simplified Employee Pension Individual Retirement Account (SEP IRA). This plan is flexible, easy to set up, and has low administrative costs. An employer signs a plan adoption agreement, and IRAs are set up for each eligible employee. When choosing this plan, keep in mind that it does not allow employees to save through payroll deductions, and contributions are immediately 100% vested.

The maximum an employer can contribute each year is 25% of an employee’s eligible compensation, up to a maximum of $270,000 for 2017. However, the contribution for any individual cannot exceed $54,000 in 2017. Employer contributions are typically discretionary and may vary from year to year. With this plan, the same formula must be used to calculate the contribution amount for all eligible employees, including any owners. Eligible employees include those who are age 21 and older and those employed (both part time and full time) for three of the last five years.

Savings Incentive Match Plan for Employees (SIMPLE). If you want a plan that encourages employees to save for retirement, a SIMPLE IRA might be appropriate for you. In order to select this plan, you must have 100 or fewer eligible employees who earned $5,000 or more in compensation in the preceding year and have no other employer-sponsored retirement plans to which contributions were made or accrued during that calendar year. There are no annual IRS fillings or complex paperwork, and employer contributions are tax deductible for your business. The plan encourages employees to save for retirement through payroll deductions; contributions are immediately 100% vested.

The maximum salary deferral limit to a SIMPLE IRA plan cannot exceed $12,500 for 2017. If an employee is age 50 or older before December 31, then an additional catch-up contribution of $3,000 is permitted. Each year the employer must decide to do either a matching contribution (the lesser of the employee’s salary deferral or 3% of the employee’s compensation) or non-matching contribution of 2% of an employee’s compensation (limited to $270,000 for 2017). All participants in the plan must be notified of the employer’s decision.

Defined benefit pension plan. This type of plan helps build savings quickly. It generally produces a much larger tax-deductible contribution for your business than a defined contribution plan; however, annual employer contributions are mandatory since each participant is promised a monthly benefit at retirement age. Since this plan is more complex to administer, the services of an enrolled actuary are required. All plan assets must be held in a pooled account, and your employees cannot direct their investments.

Certain factors affect an employer’s contribution for a plan, such as current value of the plan assets, the ages of employees, date of hire, and compensation. A participating employee with a large projected benefit and only a few years until normal retirement age generates a large contribution because there is little time to accumulate the necessary value to produce the stated benefit at retirement. The maximum annual benefit at retirement is the lesser of 100% of the employee’s compensation or $215,000 per year in 2017 (indexed for inflation).

401(k) plans. This plan may be right for your company if you want to motivate your employees to save towards retirement and give them a way to share in the firm’s profitability. 401(k) plans are best suited for companies seeking flexible contribution methods.

When choosing this plan type, keep in mind that the employee and employer have the ability to make contributions. The maximum salary deferral limit for a 401(k) plan is $18,000 for 2017.  If an employee is age 50 or older before December 31, then an additional catch-up contribution of $6,000 is permitted. The maximum amount you, as the employer, can contribute is 25% of the eligible employee’s total compensation (capped at $270,000 for 2017). Individual allocations for each employee cannot exceed the lesser of 100% of compensation or $54,000 in 2017. The allocation of employer profit-sharing contributions can be skewed to favor older employees, if using age-weighted and new comparability features. Generally, IRS Forms 5500 and 5500-EZ (along with applicable schedules) must be filed each year.

Once you have reviewed your business’s goals and objectives, you should check with your Financial Advisor to evaluate the best retirement plan option for your financial situation.

This article was written by Wells Fargo Advisors and provided courtesy of Todd Harrett, Financial Advisor with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, IN at 812-948-8475.  Visit our website at www.AxiomFSG.com.

Wells Fargo Advisors does not provide legal or tax advice. Be sure to consult with your tax and legal advisors before taking any action that could have tax consequences.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.

©2016 Wells Fargo Clearing Services, LLC.   All rights reserved.         1216-01966 [86913-v6] 1115 e6830

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Money Matters | Episode 6: What to Do, Before the I Do’s

Are you ready when the wedding bells ring?
The team from Axiom talk about the financial side — and contract side — of what a wedding brings.
So again, I ask you, are you ready when the wedding bells ring?
Money Matters: The Podcast is sponsored by Axiom Financial Strategies Group of Wells Fargo Advisors.  This monthly podcast is in addition to a monthly article titled, “Money Matters,” that is posted online at www.ExtolMag.com and www.axiomfsg.com.
**************************************************************************************************************************
At Axiom Financial Strategies Group of Wells Fargo Advisors we sincerely appreciate our clients making opportunities like this possible. Without their support of our business, we would not be able to support programs like this.
Axiom Financial Strategies Group
of Wells Fargo Advisors
101 W Spring Street, Fifth Floor
New Albany, IN  47150
P 812.542.6475 | F 812.948.8732 | www.axiomfsg.com
At Axiom Financial Strategies Group of Wells Fargo Advisors, our team caters to a select group of family-owned businesses, entrepreneurs, individuals, institutions, and foundations, helping them build, manage, preserve, and transition wealth. We accomplish this while providing top-notch service through a team approach that puts our clients’ needs, goals, and interests first. To learn more visit our website at www.axiomfsg.com. Wells Fargo Advisors. Member SIPC.
The information provided is general in nature and may not apply to your personal investment situation. Individuals should consult with their chosen financial professional before making any decisions.

Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.  Insurance products are offered through our affiliated nonbank insurance agencies.

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
Video: CAR# 0817-03149.
Podcast: CAR#  0817-04140
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Money Matters | Looking to Ease College Tuition Anxiety?

By Michelle Floyd, CFP®, Financial Consultant of Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, Ind.

michelle-floyd-money-matters-featureDid you realize that, according to the College Board, more than $240 billion in grants from all sources (federal loans, federal work-study, and federal tax credits and deductions) was awarded to undergraduate and graduate students in the 2015-2016 academic year? And that those students came from households spanning a wide range of household incomes?

During that academic year, the average aid for a full-time college student amounted to $14,460, including $8,390 in grants (that don’t have to be repaid) and $4,720 in federal loans.

Once you realize how many resources may be available and begin your research on financial assistance, you could be on your way toward easing some of the anxiety often associated with paying for college.

5 lessons for seeking help for college costs

 Start planning during the high school years. Pay particular attention to your child’s junior year of high school and reposition assets or adjust income before it begins. When financial aid officers review a family’s need, they analyze the family’s income in the calendar year beginning in January of the student’s junior year.

 Assume you’re eligible for aid … until you’re told you’re not. There are no specific guidelines or rules of thumb that can accurately predict the aid you and your child may be offered. Because each family’s circumstances are different, keep an open mind as you consider financial aid alternatives. A number of factors ‒ such as having several children in school at the same time ‒ may increase your eligibility for assistance.

 Reassess assets held by your children. Federal guidelines expect children to contribute 20% of certain assets toward their education’s costs, while parents are expected to contribute up to 5.64%.

That’s why assets held in custodial accounts (bank accounts, trust funds, brokerage accounts) in your children’s names may reduce the aid for which the family qualifies. But assets held in Coverdell Education Savings Accounts and 529 plans are factored into the parent’s formula, having less effect on the aid for which the family qualifies.

 Help grandparents’ target their gifts. Grandparents’ hearts often lead them to make gifts directly to grandchildren or to pay their tuition expenses. Even though payments made directly to a college avoid gift taxes, financial aid sources generally count these payments as an additional resource the family has to pay for college expenses. Distributions from grandparent-owned 529 plans are also considered as resources and assessed as your child’s income, which can reduce eligible aid.

A better idea for grandparents may be to make a gift to a 529 plan owned by the parent or grandchild. The financial aid treatment of gifts to 529 plans is generally more favorable than for gifts made directly to the grandchild. Plus grandparents using this alternative may also realize estate tax and gift tax benefits.

Assess your family’s financial situation to determine what your children will need. Gather records and begin researching available financial aid, grants, loans, and scholarships. Two forms will be key to your aid application process: the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service Financial Aid Profile (PROFILE).

The FAFSA helps you apply for federal aid, and many states also use it to determine a resident student’s eligibility for state aid. You can find forms in high-school guidance offices, college financial-aid offices, or online.

Many schools use the PROFILE to collect additional information before awarding their own funds, i.e., institutional student aid.

 Please consider the investment objectives, risks, charges and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your Financial Advisor. Read it carefully before you invest.

 Our firm is not a tax or legal advisor.

This article was written by/for Wells Fargo Advisors and provided courtesy of Michelle Floyd, CFP®, Financial Consultant of Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, IN at 812.948.8475.Visit our website at www.AxiomFSG.com.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

© 2017 Wells Fargo Clearing Services, LLC. All rights reserved. 0317-00230

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Money Matters | Episode 5: College Prep 101

Are your (parents) prepared to send your child away to college?  Not so much mentally, but are you fully prepared legally and have you prepared your child financially?
Money Matters: The Podcast is sponsored by Axiom Financial Strategies Group of Wells Fargo Advisors.  This monthly podcast is in addition to a monthly article titled, “Money Matters,” that is posted online at www.ExtolMag.com and www.axiomfsg.com.
**************************************************************************************************************************
At Axiom Financial Strategies Group of Wells Fargo Advisors we sincerely appreciate our clients making opportunities like this possible. Without their support of our business, we would not be able to support programs like this.
Axiom Financial Strategies Group
of Wells Fargo Advisors
101 W Spring Street, Fifth Floor
New Albany, IN  47150
P 812.542.6475 | F 812.948.8732 | www.axiomfsg.com
At Axiom Financial Strategies Group of Wells Fargo Advisors, our team caters to a select group of family-owned businesses, entrepreneurs, individuals, institutions, and foundations, helping them build, manage, preserve, and transition wealth. We accomplish this while providing top-notch service through a team approach that puts our clients’ needs, goals, and interests first. To learn more visit our website at www.axiomfsg.com. Wells Fargo Advisors. Member SIPC.
The information provided is general in nature and may not apply to your personal investment situation. Individuals should consult with their chosen financial professional before making any decisions.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

CAR # for the podcast is 0417-02947 | CAR # for the video is 0417-02942

2017-money-matters-feature-generic-for-articles

Money Matters by Michelle Floyd | Involve Your Child in the Finances of College

By Michelle Floyd

The cost to attend a university continues to increase: between the 2011–2012 school year and the 2016–2017 academic year, tuition and fees rose by 13% at private, nonprofit, four-year institutions, reaching an average of $33,479, according to The College Board.*

If you’ve diligently saved over the years to help pay for your child’s education, now is the perfect time to bring him or her into the equation. “When it comes to financing school, students need to be involved in the process,” explains Tracy Green, a Life Event Services consultant at Wells Fargo Advisors.

By walking through the financial steps of paying for college together, you’ll help your son or daughter understand the overall expenses and learn valuable fiscal skills for the future, especially the importance of goal-based saving.

Green recommends following these five steps to get your child involved before mailing in that acceptance notification and deposit.

  1. Start with a conversation. Before your child even begins applying for college, have a discussion about finances, suggests Green. A good time to have this conversation tends to be during the student’s junior year of high school.

When you sit down together, ask your child about his or her upcoming goals. Talk about expenses for school, as well as who will be covering costs or how they might be split. If you or other family members have contributed to a 529 plan, show it to your child and go through the details of how it can be used.

  1. Set a budget. As a family, consider setting certain guidelines and limitations for the college experience. Perhaps you agree to cover the cost of tuition and room and board, but ask your child to pay for his or her entertainment expenses while on campus.

“Having those discussions may prevent future disappointment,” adds Green. If your son gets accepted into his dream school, for instance, but later learns the family won’t be able to pay for it and he doesn’t want to take out his own loans, the reality could be difficult to face.

  1. Look at financial aid packages together. With your child, fill out and submit forms for financial help, such as the Free Application for Federal Student Aid (FAFSA). Learn more at https://fafsa.ed.gov/. To identify additional types of financial aid that may be available, visit https://studentaid.ed.gov/sa/.

Some universities have a net price calculator on their websites. With this tool, you’ll be able to see what the overall cost for the school is and then subtract any financial aid packages available to identify what your expected expenses will be. Once you start receiving acceptance notifications, go through aid packages with your child to compare and contrast them so that you and your child have a clear vision of what the bottom line is and how different aid options are treated.

  1. Think about work. If you want your child to be responsible for paying for part or all of their schooling, a part-time job may be a good fit.

As a family, you’ll want to decide if it makes sense for your child to work while he or she is at school, or only during summer and winter breaks. “Some kids may have a heavy class load or extracurricular activities,” notes Green. If certain scholarships require your child to attain or keep a certain GPA, you’ll want to weigh the time spent away from academics against the amount of money your student will be earning from a part-time job.

In addition to helping cover college expenses, employment can offer other key benefits for your child, including the chance to manage an income, build a strong work ethic, and grow in self-worth. If working during the school year will put too much of a strain on your child, set savings goals together for his or her summer job. 

  1. Understand scholarship possibilities. If your child wants to attend a school that doesn’t fit into the budgeted amount you planned to spend, consider sitting down to talk about the situation. It may be time to look at other options, or your child may want to increase his or her efforts to identify and apply for scholarships to help cover some of the costs.

The site TuitionFundingSources.com, sponsored by Wells Fargo, provides a database of scholarships available. After looking through the options together, help your child set up a schedule to apply for ones that are the best fit, paying close attention to deadlines and other requirements. Some scholarships involve writing an essay, but the rewards offered could make the effort worthwhile. 

*https://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-and-board-over-time

 Please consider the investment objectives, risks, charges and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your Financial Advisor. Read it carefully before you invest.

This article was written by/for Wells Fargo Advisors and provided courtesy of Michelle Floyd, CFP®, Financial Consultant with Axiom Financial Strategies Group of Wells Fargo Advisors in New Albany, IN at 812-948-8475.
Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.

© 2017 Wells Fargo Clearing Services, LLC. All rights reserved.   0317-00810

2017-money-matters-feature-podcast

Money Matters | Episode 4: My First Real Job and What to do with the Money

I have my first real job and my first real paycheck; What to do?  The answer may actually be your first real job.  The gents from Axiom Financial Strategies Group of Wells Fargo Advisors give us the inside track.
Money Matters: The Podcast is sponsored by Axiom Financial Strategies Group of Wells Fargo Advisors.  This monthly podcast is in addition to a monthly article titled, “Money Matters,” that is posted online at www.ExtolMag.com and www.axiomfsg.com.
**************************************************************************************************************************
At Axiom Financial Strategies Group of Wells Fargo Advisors we sincerely appreciate our clients making opportunities like this possible. Without their support of our business, we would not be able to support programs like this.
Axiom Financial Strategies Group
of Wells Fargo Advisors
101 W Spring Street, Fifth Floor
New Albany, IN  47150
P 812.542.6475 | F 812.948.8732 | www.axiomfsg.com
At Axiom Financial Strategies Group of Wells Fargo Advisors, our team caters to a select group of family-owned businesses, entrepreneurs, individuals, institutions, and foundations, helping them build, manage, preserve, and transition wealth. We accomplish this while providing top-notch service through a team approach that puts our clients’ needs, goals, and interests first. To learn more visit our website at www.axiomfsg.com. Wells Fargo Advisors. Member SIPC.
The information provided is general in nature and may not apply to your personal investment situation. Individuals should consult with their chosen financial professional before making any decisions.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
CAR # for the podcast is 0417-02947
CAR # for the video is 0417-02942
2017-money-matters-feature-the-poll

Money Matters ‘the poll’ | Investing 101

Please watch the below video for answer and/or listen to our podcast below:

MONEY MATTERS PODCAST (12 min 49 sec., Podcast goes into more detail about why and how)

Investing 101 PDF (written reference provided by Wells Fargo Advisors)

If you would like more information regarding investments or tips information like the ones, please contact our office for a free consultation: You can also follow Money Matters at www.Axiomfsg.com or www.ExtolMag.com.

Axiom Financial Strategies Group of Wells Fargo Advisors
101 W. Spring Street, 5th Floor
New Albany, IN 47150

www.Axiomfsg.com | 812.948.8475

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member FINRA/SIPC, CAR 0417-00313

Axiom Financial Strategies Group of Wells Fargo Advosors, LLC