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Morrison's Money Minute Newsletter

JUNE 2018

Summer is finally upon us which will bring kids home from school and hopefully to fun family vacations. We’re highlighting a couple items of interest related to the 2017 Tax Cuts Law in this month’s newsletter, as well as making a meaningful graduation gift suggestion.

There’s STILL 1/2 the year left to maximize your 401(k), which not only better ensures an Empowered Retirement, yet also reduces your tax bill in 2018!

IF you plan on retiring in 2018 or 2019, please give us a call at 973-709-2244 or contact us via email so we can share some powerful tips.

To Your Continued Empowerment & Happy Summer😎,
Debra

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Debra L. Morrison


Watch for these pitfalls if you want to deduct mortgage interest under the new tax law

By Anthony P. Curatola

Timing is everything if you want to claim the tax break

The new tax law creates some potential pitfalls for home buyers and how they finance their property… Timing is everything...

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This is one of the best gifts you can give to a new graduate

It isn’t just a handout

By Andrea Coombes

Giving a Roth IRA contribution is a great way to jump-start a college grad’s retirement savings since young adults have time and compound interest on their side…

Read More


Stay away from these 3 types of financial advisers (and that’s coming from an industry insider)

These people can look the part, seem nice and sound well-informed

By William M. Francavilla

Many Americans understand they may need to engage a financial adviser but struggle with how to find one. Should they rely upon the referral of friends or colleagues? Turn to a major bank or brokerage firm? What about the person who runs his or her own registered investment advisory firm? Should the person be a certified financial planner, or is that not important?

Unfortunately, many Americans don’t understand they may be one introduction away from losing their nest egg with the wrong adviser…

Read More


“Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending.”
— Carl Bard


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!


Want to receive this useful and informative FREE newsletter directly to your Inbox each month? Click Here to Subscribe now so you don’t miss even one issue!

In this issue…

  • Watch for these pitfalls if you want to deduct mortgage interest under the new tax law
  • This is one of the best gifts you can give to a new graduate
  • Stay away from these 3 types of financial advisers (and that’s coming from an industry insider)
  • The new tax law makes hiring your kid a better idea than ever
  • …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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The new tax law makes hiring your kid a better idea than ever

Put your children to work over summer vacation and save taxes

By Bill Bischoff of Market Watch

It’s summer, and that means it’s time for kids to have jobs. Hiring your child as a legitimate employee of your business can be a great tax-saving strategy. Here’s the deal…

Read More


“Change is not a threat, it’s an opportunity. Survival is not the goal, transformative success is.”
— Seth Godin


Airlines could set airfare based on your income. What you need to know

by Brittany Jones-Cooper of Yahoo Finance

Nailing down the cheapest airfare can be tough. Prices are based on a handful of factors, including route, date and demand, so they are always in flux. Now airlines might start looking at new ways to determine airfare, like your income…

Read More


All the ways you can mess up your 401(k) — even if you max out your contributions

Take advantage of company matches, of course, but also ask about true-ups

By Mitch Tuchman

Workplace retirement plans get a lot of bad press, primarily if they are loaded with high fees.
But truth be told, 401(k) retirement plans have been a boon to millions of Americans with access to them. In total, 55 million savers held $5.3 trillion in these plans at the end of 2017, according to industry data…

Read More


Don't Forget

Buy the mini-book! 

Dictionary of Useful Financial Terms