Bulletin Monthly

Your Personal CFOs

September 2011

As far as the markets are concerned, we’re certainly glad to see that August is behind us. In spite of the recent volatility, our base case view for moderate growth in 2011 remains in place. There is currently a “Recession of Confidence” not only here but around the globe. It is hard to believe that it will have been 10 years since the dreadful attack on our country. We should take some time to reflect on some of the things that make this nation great. One of those things is its resiliency. “I like to see a man proud of the place in which he lives. I like to see a man live so that his place will be proud of him.” – Abraham Lincoln

The Spousal IRA Rule
Did you know that if you’re married, earn less than your spouse, and file a joint federal income tax return, the amount you can contribute to an IRA is based on the combined compensation of you and your spouse?

Could You Handle a Financial Windfall?
Receiving a financial windfall is often a life-changing event. You might never win the lottery, but the odds are that at some point you’ll receive a substantial amount of money, perhaps from an inheritance, bonus, insurance settlement, or the sale of a home or business. If so, would you be prepared for the financial decisions you might suddenly face?

Health Flexible Spending Accounts
If your employer maintains a health flexible spending account (FSA), you can be reimbursed tax free for qualified medical expenses. You will usually fund the health FSA using salary reduction contributions that reduce your federal taxable wages. There have been a number of recent developments with health FSAs.

What happens to my online accounts when I die?
When you die, you may not only leave behind financial wealth, you may also leave behind a wealth of information on your computer. Just as you make estate plans for your physical assets, you should also make plans for your “digital” or “cyber” assets.

How do I include my cyber assets in my estate plan?
Your cyber or digital assets may have sentimental and/or economic value, and you should include them in your estate plan, just as you would with your physical assets.