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Morrison's Money Minute Newsletter

JULY 2018

Summer is in full swing and while vacations often lull us into a more relaxed state, we want to ensure that you don’t miss out on valuable Social Security benefits; hence we’ve spent a lot of time this month focused on selecting the ‘optimal’ mix of SS. And, since Social Security workers are forbidden by contract law from rendering advice, it is imperative to sit with a Fee-Only CFP(r) Practitioner, if only for 1 hour, to select when you (& your partner, if applicable) should begin your receipt of monthly checks.

A Fee-Only CFP(r) Practitioner can help folks of any net worth prioritize their tasks and gain mental mastery of their finances. Money worries weigh folks down unnecessarily-why not partner with a pro, so you can go about your life with confidence?

And finally, getting our collective arms around retirement spending is what we specialize in, as well as identifying potential expenses that you may not even be considering now. We help eliminate financial surprises, yet we also help folks deal with those that slip through the cracks, in the most efficient and caring manner. Give us a call (973-709-2244) to chat about what may be weighing you down; we’ve probably helped others through similar circumstances.

To Your Continued Empowerment & Happy Summer😎,

Debra Firstname sig





Debra L. Morrison

Do you really understand Social Security?

By Mary Kane

Gaining a better understanding of how Social Security works is one of the most important things you can do to prepare for retirement.


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Social Security to tap into trust fund for first time in 36 years

Medicare finances downgraded in new report

By Robert Schroeder

Medicare’s finances were downgraded in a new report from the program’s trustees Tuesday, while the projection for Social Security’s stayed the same as last year.

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Why You Should Hire a Financial Planner, Even if You’re Not Rich

Financial planners can help clarify the process

By Lizz Schumer

A new study found that perceived financial well-being — feeling secure about not only the state of your current situation but how well you’ve planned for the future — holds the key to your overall well-being.

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“Everything takes time. Bees have to move very fast to stay still.”
– David Foster Wallace

Did You Know?

Fee-Only financial planners are the only financial planners who work for you, the consumer, rather than in their own interests? Other financial planners’ fees are based upon commissions or fee + commissions; meaning they will sell you the financial products that will benefit their pocketbooks the most, regardless of whether they benefit you or not!

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In this issue…

  • Do you really understand Social Security?
  • Social Security to tap into trust fund for first time in 36 years
  • Why You Should Hire a Financial Planner, Even if You’re Not Rich
  • Gearing up for retirement? Make sure you understand your tax obligations
  • …and more!

And don’t miss Debra’s Updated Dictionary of Useful Financial Terms!

We know you’re busy…
…and “financese” can be confusing. Why not let Debra save you valuable time by sorting through the noise for you?

Sign up for Morrison’s Money Minute and each month you’ll receive Debra’s timeless wisdom and tips, hand-picked articles and timely news segments, plus how-to’s, financial term definitions and videos covering the financial topics that mean the most to you, all in one convenient, bite-sized email.
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Gearing up for retirement? Make sure you understand your tax obligations

Taxes are always with us

By Catherine Golladay of MarketWatch

There are several factors at play when we talk about taxes in retirement, including age, tax-deferred and other retirement accounts, additional investments, and Social Security. Understanding how to navigate these interconnected factors, and how to use specific tax strategies, can help you build a comfortable retirement.

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“Time is the wisest counselor of all.”
– Pericles

You’re probably going to join the sandwich generation. Here’s how to protect your finances — and sanity

Advanced preparation is key to ensure your parents and children receive the care and attention they need.

by Elisabeth Buchwald of MarketWatch

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Where Retirees Underestimate Spending

Underestimating how much you’ll spend can be costly, so it’s key to know the common pitfalls

By Neal Templin

Navigating retirement can be difficult for lots of reasons. One of the biggest is that it forces people to make plans based on spending assumptions that won’t become a reality for decades.

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Don't Forget

Buy the mini-book! 

Dictionary of Useful Financial Terms