Planned Solutions

Planned Solutions

By Planned SolutionsBusiness
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Planned Solutions episodes

  • Restricted Stock Units, Housing Affordability & Converting Savings Bonds Electronically

    Welcome to the⁠⁠ @plannedsolutions ⁠⁠Incorporated Podcast. Restricted Stock Units (RSUs) are a common form of employee compensation as stock options and cash bonuses have become less and less common. RSUs can be a great way for an employee to build wealth by sharing in their company’s success, but they also come with some complex tax and investment planning considerations that can complicate the planning around this form of compensation.

    Also, Housing affordability has continued to be a challenge for those looking to break into the market. According to a study by Zillow, the household income needed to afford a home has increased 80% from 2020 to 2024, while the median income has increased just 23% making home ownership more and more out of reach of many households.
    As well, To follow up on a topic from a previous newsletter about managing US Savings Bonds, it is important for Savings Bond holders to know that they have the ability to convert their old paper Savings Bonds to an electronic registration. Holding Savings Bonds electronically can make it easier to monitor and manage the bonds without the risk of misplacing the paper bonds or forgetting to cash them in after they have matured.

    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Daryl recently attended the Financial Planning Associations NorCal Conference held in San Francisco. The program included speakers that are industry experts, investment company CEOs, company culture advisors, and experts in a variety of financial planning topics.
    It is graduation season, so congratulations to all of the graduates out there as well as the family and friends that have helped them along the way.

    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail ⁠⁠[email protected]⁠⁠

    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

    Chase Armer's book- Financial Planning Insights is now available at:
    ⁠⁠⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠⁠
    Intro 00:00
    Restricted Stock Units 01:25
    Housing Affordability 13:07
    Converting Savings Bonds Electronically 18:41
    PSI Office Bulletin Board 21:22
    Planned Solutions, Inc.
    ⁠⁠https://www.plannedsolutions.com/⁠

    26 min
  • Retirement Planning Challenges, Basics of Annuities & Checking the Value of Your Savings Bonds

    Welcome to the⁠⁠ @plannedsolutions ⁠⁠Incorporated Podcast. A new AARP study shows that many people in their 50s believe they will never be able to retire as they struggle to pay for day-to-day living needs, much less save for

    the long-term. This finding highlights the importance of creating a retirement plan as early as possible. However, even those who start retirement planning later in life are often able to get back on track, or at least achieve a better outcome than those who continue to avoid the topic.
    Also, Some employers are now offering annuity-based investment options as a part of their 401k investment line-up. These investment options are designed to target financially unsophisticated savers by making the process of converting retirement saving to retirement income easy, but they come with higher fees and other risks, such as inflation risk, that may not be properly disclosed.
    As well, US Savings Bonds were a popular investment in the past when the US Government still issued paper bonds to purchasers. As a result, there are many savings bonds in circulation that have been misplaced or ignored because they are tucked away in a safe place. However, just like any investment, US savings bonds should be managed by reviewing these investments periodically to determine if they should be held or cashed in.
    https://www.treasurydirect.gov/BC/SBCPrice
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - You may have received a form 5498 from an IRA custodian this month. The form 5498 is an IRA Contribution Information report required to be sent out by IRA custodians by May 31st each year. Information on the form can vary by custodian. The basic reason for the form is to track activity in the account (a Traditional IRA, SEP IRA, SIMPLE IRA, or ROTH IRA). Common activity includes an upcoming required minimum distribution (RMD) or a past year's contribution. Oddly enough, the May 31st deadline means we have already accounted for the IRAs during the tax season with the April 15th tax filing deadline.
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail ⁠⁠[email protected]⁠⁠
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Chase Armer's book- Financial Planning Insights is now available at:
    ⁠⁠⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠⁠
    Intro 00:00
    Retirement Planning Challenges 02:01
    Basics of Annuities 12:32
    Checking the Value of Your Savings Bonds 22:13
    PSI Office Bulletin Board 28:07
    Planned Solutions, Inc.
    ⁠⁠https://www.plannedsolutions.com/⁠

    33 min
  • Interest Rate Perspectives, Beware of Annuity Contracts in 401k Plans & Continuing Care Retirement Communities

    Welcome to the⁠ @plannedsolutions ⁠Incorporated Podcast. The increase in interest rates over the past several years has created some financial planning opportunities and risks that should be considered. These include the benefit of creating a cash management plan to increase earnings on low-risk investments and implementing more creative borrowing strategies to reduce the overall cost of debt.

    Also, Some employers are now offering annuity-based investment options as a part of their 401k investment line-up. These investment options are designed to target financially unsophisticated savers by making the process of converting retirement saving to retirement income easy, but they come with higher fees and other risks, such as inflation risk, that may not be properly disclosed.

    As well, Continuing Care Retirement Communities are a long-term living and care solution that is becoming more and more popular among retirees. These facilities often offer independent living, assisted living, and long-term care with multiple levels of care available making them a one-stop shop for retiree living needs. However, these facilities often require large upfront payments as well as ongoing monthly fees that vary by level of care, making it an important financial decision that should not be taken lightly.

    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Our website has been upgraded! After months of working with our website developer to change the look and functionality of our website it is finally live at www.plannnedsolutions.com.

    The IRS has once again suspended the missed RMD Penalty for post 2020 Inherited IRAs for one more year, into 2025. This affects beneficiaries of IRA accounts where the original owner died between 2020 and 2023 and who are subject to the 10-year payout rule.

    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail ⁠[email protected]⁠
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Chase Armer's book- Financial Planning Insights is now available at:
    ⁠⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠
    Time Code


    Interest Rate Perspectives 02:45

    Beware of Annuity Contracts in 401k Plans 15:25
    Continuing Care Retirement Communities 19:07
    PSI Office Bulletin Board 22:43
    Planned Solutions, Inc.
    ⁠https://www.plannedsolutions.com/

    29 min
  • US First Quarter Economic Growth Rate, Home Insurance Cancelations & IRS Audits

    Welcome to the @plannedsolutions Incorporated Podcast. The US economy is estimated to have increased by just a 1.6% annualized rate in the first quarter. The most important categories of personal consumption expenditures and investment expenditures reported reasonably strong growth rates of 2.5% and 3.2%, respectively. However, government spending, especially in national defense, fell in the first quarter and the balance of trade subtracted from growth as the growth in imports outpaced the growth in exports.

    Also, we are seeing a disturbing trend of people reporting to us that their homeowner’s insurance policy is being cancelled or not renewed. In this case, it is important to talk to a professional about the options available. This may include asking your insurance company to reconsider their decision or looking for alternative insurance, such as your state’s FAIR Plan, which may result in a big increase in insurance premiums.
    As well, Individual income tax returns have a three-year statute of limitations. This means the IRS has three years to audit a taxpayer’s income tax returns unless there is a gross misstatement of income or the IRS suspects fraud, in which case the time period is extended or unlimited. Taxpayers also have a three-year period to make changes to their tax return to either self-report additional tax due or to file for a refund which may have been missed. The three year period starts on the due date of the return or when it is filed, whichever is later.

    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Chase and Daryl attended the FPA of Northern California Spring Symposium which featured two speakers, including Chase, giving an update on the current market environment along with an Inspirational Speaker giving us Tools to Overcome Adversity.
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    US First Quarter Economic Growth Rate 01:45
    Home Insurance Cancelations 12:20
    IRS Audits 18:20
    PSI Office Bulletin Board 22:30
    Chase Armer's book- Financial Planning Insights is now available at:
    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    Planned Solutions, Inc.
    https://www.plannedsolutions.com/

    28 min
  • The US Job Market, Long -Term Interest Rates & Rise Maturing CDs

    Welcome to the Planned Solutions Incorporated Podcast. On this episode we discuss some reports claiming that the US labor market is turning for the worse. However, most of the data cited has been anecdotal data that does not seem to be indicative of the entire market. Taking a close look at the national labor market data such as the unemployment rate (backward looking) and initial claims for unemployment insurance (forward looking)

    show signs of a strong labor market.

    Also, Short-term interest rates and the potential for the Federal Reserve to cut interest rates once, or multiple times this year, has been the focus of the bond markets. However, long-term interest rates have been quietly increasing to rates close to their high from last Fall. This may create a second opportunity for investors to lock-in high interest rates for longer time periods.
    As well, When it comes to investing, it is always important to periodically review your investments to make sure they are performing as expected and still conform to your financial goals. This is even true of investing in Certificates of Deposit (CDs) which may be more or less attractive based on the level of interest rates. Most importantly, CDs issued by banks often rollover if the owner does not act within a given window of time, which can lead to poor long-term returns if higher interest rate CDs are rolled over into lower yielding CDs.

    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - The NPR Podcast Planet Money recently published a podcast episode (TikTok, and other apps like it, are filled with financial advice. Is any of it worth listening to? Published April 12, 2024) which highlights a growing problem in the world of personal finance. More and more people are getting financial advice, including tax advice, from social media apps like TikTok but do not realize that, in many cases, the claims made are incorrect, exaggerated, or designed to mislead. The competition for clicks or views online has incentivized many non-experts to pose as experts giving financial advice that could lead to disaster if followed by the audience.

    As always, when getting financial information online it is important to assess the trustworthiness of the source, including their experience and credentials that qualify them to give advice, including financial advice. This is especially true when it comes to tax advice because a lot of the advice given on social media could be considered tax evasion which could result in stringent penalties for those who choose to follow the advice.

    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    Planned Solutions, Inc. https://www.plannedsolutions.com

    31 min
  • Financial Stress Index, Insider Stock Transactions As A Market Signal & Review Estate Planning Docs

    In this episode of the Planned Solutions Incorporated Podcast, One year after the mini financial crisis sparked by the failure of Silicon Valley Bank, the financial stress index is at its lowest level since before the 2008 financial crisis. There are some areas of the financial system that have thrived in the last year, such as the nation’s largest money center banks, while some regional banks have continued to struggle under higher borrowing costs and losses on commercial real estate. However, the overall health of the financial system remains strong.

    Also, Company insiders have made the news by selling large blocks of their company’s stock recently. However, insider selling has rarely been a sign
    that a stock may be overpriced or may decline in value in the future. Insiders may have many reasons to sell shares in the company they founded or oversee that have nothing to do with their expectations for the stock price making this a poor indicator of stock market performance.
    As well, It is important to review estate plans (wills, trusts, financial powers of attorney, and health care powers of attorney) every few years to make sure they are still valid. Changes in the tax laws and legal processes may make an estate plan inefficient or even obsolete. In addition, personal estate planning goals may change over time requiring an update to the estate plan to make sure it reflects your wishes.
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - The tax deadline is just a few weeks away. That means this is the time to gather the last of the tax documents that are needed to complete your return or to at least get an accurate estimate of your tax liability so you can determine if you need to make a tax payment when you file an extension.
    This year it is even more important to make sure to pay any tax that is due by the April 15th deadline. Not only could a balance owed after April 15th be subject to a late payment penalty, but it will also be subject to interest, which is currently 8% per year, compounded daily. Therefore, a taxpayer who files for an extension without realizing that they owe taxes, and do not file until the extension deadline of October 16th, could owe penalties plus an extra 4%+ of the amount owed in interest.
    Charles Schwab recently issued corrected 1099s for some taxable (non-retirement) accounts. In the past these corrections have been quite small but this year some of them are adding up to a significant reduction in the tax due. So, if you get notice that your 1099 has been corrected, you will want to update your tax return. If you already filed your taxes, it may be a good idea to file a superseded return or to do an amended tax return.
    Chase Armer's book- Financial Planning Insights is now available at:

    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb


    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]


    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.


    Planned Solutions, Inc. Planned https://www.plannedsolutions.com/

    27 min
  • Common Sources of Negative Tax Surprises, Where Inflation is Hiding & Sale of Primary Residence
    In this episode of the Planned Solutions Incorporated Podcast, the US tax system is complex with many moving pieces that can lead to tax surprises. Changes in income, deductions, credits, or tax withholding can all lead to a taxpayer owing more tax than expected. Some of these changes can be anticipated by taxpayers so that they can plan to increase their tax withholding, make estimated payments, or at least make sure to have the
    money set aside to pay the tax due at tax time.
    Also, The latest inflation report revealed that several repeat offenders’ categories continued to be sources of inflation, especially shelter prices. However, several smaller sources of inflation have been less obvious including auto insurance, food away from home, hospital services, and motor vehicle maintenance and repair.
    As well, The Personal Residence Exemption (Section 121) is one
    of the largest tax breaks in the tax code. It allows an individual to
    exclude up to $250,000 ($500,000 for a married couple where both spouses qualify) of gain from taxation on the sale of a primary residence. To qualify an individual must have owned and lived in the home as their primary residence for two of the prior five years from the date the sale of the home closes.
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Tax returns are due April 15th this year, giving us a little less than a month to get those returns filed. However, for those who will not be able to get all of their documents together in time, there is the option to file for a tax extension which allows the tax returns to be filed at any time before October 15th
    A common misconception is that a tax extension is an extension of time to both file tax returns and pay any tax that is due. This is not the case. Any tax payments that are due for 2023 are still
    due on April 15th, even if the tax return is put on extension and filed later in the year. Therefore, even if a taxpayer files for an extension they must get as much of their tax return done as possible so they can estimate the amount of their refund or tax due as accurately as possible. If there is likely to be some tax due, they will need to make a payment with their request for an extension of time to file.
    Even if an extension is filed, a failure to pay any tax due by the April 15th deadline may result in late payment penalties as well as interest charged on the amount due. These additional costs can add up, especially now that interest rates are elevated making it more important than ever to accurately estimate the amount due before filing for an extension.
    Chase Armer's book- Financial Planning Insights is now available at:
    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Planned Solutions, Inc.
    28 min
  • Custodial Accounts And Tax Planning, Stock Earnings Increase, Interest Rates And Tax Withholding
    In this episode of the Planned Solutions Incorporated Podcast, In a real-life case study, we explore just one way that a financial advisor can use strategic timing along with the integration of investment and tax planning to increase the long-term financial benefits from a savings and investing strategy. Here we explore the intersection of long-term investing (the compounding of returns), counterintuitive tax strategies (tax-gain harvesting), and estate planning an efficient transfer of wealth to the next generation.
    Also, Earnings for the S&P 500 companies increased by 21.7% year-over-year in the fourth quarter. Most companies beat their earnings expectations and analysts predict that earnings will continue to climb in 2024. However, the pace of earnings growth has slowed recently with earnings still more than 10% below the high from the fourth quarter 2021.
    And, Higher interest income has led to an increase in income tax for taxpayers who have a significant balance in savings or money
    market accounts. This occurs because interest income typically
    does not have income taxes withheld unless the taxpayer is subject to backup withholding. For some this may necessitate
    more detailed tax planning to create a plan to pay the tax due on
    interest income in order to avoid a large tax bill at tax time and the
    potential for an underpayment penalty.
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - There is a new method that scammers are using to steal personal information online: SearchEngine Optimization (SEO) scams. In this case, scammers are using fake websites that imitate the websites of trusted financial institutions and then use Search Engine Optimization to make their fake website appear near the top of online search results, making it seem like it is the
    legitimate website.
    Chase Armer's book- Financial Planning Insights is now available at:
    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Planned Solutions, Inc.
    30 min
  • Interest Rates, The Yield Curve & Credit Spreads, Excess HSA Contributions
    In this episode of the Planned Solutions Incorporated Podcast, Interest rates are often referred to generically when referencing the Federal Funds Rate (the overnight lending rate between banks that the Federal Reserve manages). However, many interest rates are impacted by the term of a loan and the risk that the loan will not be paid back. To fully understand the bond market investors must understand the
    implications of the interest rate curve (interest rates paid for different terms) and interest rate spreads.
    Also, Health Savings Accounts (HSAs) can be useful financial planning tools for those who have a high-deductible health insurance plan and therefore qualify to make contributions. However, like other similar plans, HSAs have contribution limits that must be monitored to make sure the limits are not exceeded. Otherwise, an excise tax on over-contributions may apply.
    And, 529 educational savings plans are often thought of as just that, an education savings vehicle. However, due to some of the
    peculiar rules around 529 plans, they can also be a good estate
    planning vehicle for high-income and high-wealth individuals. A
    529 plan allows the owner to control the funds for the benefit of
    a beneficiary. At the same time, the funds are considered to
    be a completed gift and are therefore outside of the owner’s estate for income and estate tax purposes.
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Schwab recently released the form 1099-Div and 1099-B for non-retirement accounts. These are often the last forms that are released and thus can hold up tax filing. However, it appears that this year’s forms were released reasonably early. If you need your forms and have not yet received them, you can access them online or call our office and we will send them to you via a secure e-mail link.
    Tax return information has been coming in early this year and we are very appreciative of those who have tackled the gathering of the tax information early. Tax season is only so long and from
    a tax preparer's standpoint, it is much less stressful when the work comes in early so it can be spread over as many days and weeks as possible. Every tax preparer loses sleep over the fear that all of their tax clients will wait until late in the season to send in their tax documents creating a deluge of work with little time to complete it. So, thanks to all of you who have started early this
    year.
    Chase Armer's book- Financial Planning Insights is now available at:
    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Planned Solutions, Inc.
    26 min
  • Charitable Tax Deductions What You Need To Know And Fed Policy And Market Expectations
    In this episode of the Planned Solutions Incorporated Podcast, The IRS charitable contribution rules are complex. The rules differ depending on the type of property donated (cash, check, credit card, or in-kind), the amount donated, the taxpayer’s income or other tax deductions, whether the taxpayer receives goods or services in return for the donation, and how the donations are
    made. Therefore, taxpayers need to plan their charitable contributions if they are seeking a tax benefit.
    Also, The Federal Reserve is sending mixed messages to investors and some Fed Governors advocate a proactive approach to lowering short-term interest rates in anticipation of lower inflation rates. While others warn investors that interest rate cuts may not come as soon as they expect and may not be as aggressive as the financial markets are predicting
    And, Many employers offer retirement plan matching funds as an
    employee benefit and to encourage employees to save for their retirement. However, employees who cannot afford to fund their retirement plans do not benefit from these matching funds. So, starting in 2024, the law was expanded to allow employers to pay employees matching funds on student loan payments made by the employee during the tax year.
    Plus a look at the Planned Solutions Incorporated Office Bulletin Board - On January 31st the US House of Representatives passed a new tax bill that will make retroactive changes to the tax code that would apply to the 2023 tax year. Even though the IRS pleads with Congress not to make any last-minute tax law changes, which the IRS defines as tax law changes after December 1st of the tax year, Congress may be ignoring them and making changes
    to the prior year tax laws after tax season has already started.
    So, what does this mean for taxpayers? Currently, we don’t know. Any changes in the tax law will need to pass the Senate and be signed into law by the President, so we still don’t know if
    these tax law changes will be implemented. In addition, should the changes become law they will only impact certain taxpayers. Specifically, the biggest changes will be to the Child Tax Credit and the ability for businesses to expense Research and Development (R&D) costs. Therefore, taxpayers who may be impacted by these changes may benefit from delaying their tax
    filing to see what, if any, changes are made to the law.
    Chase Armer's book- Financial Planning Insights is now available at:
    https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
    To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
    The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
    Planned Solutions, Inc.
    34 min

About Planned Solutions

From the publisher's feed

Planned Solutions is an Independent Financial Planning Firm - looking out for our client's best interests. With over 30 years in the financial planning business, we at Planned Solutions will help guide you to a secure financial future.

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