Blog - North Light Financial Services

Building An Emergency Fund

BUILDING AN EMERGENCY FUND Creating a financial cushion for stressful times. How would you respond to sudden financial demands? We all define “emergencies” differently, but we are not immune to them. How can we plan to stay afloat financially when they occur? Most households are not financially prepared for an emergency – not even close. A recent study from the National Foundation for Credit Counseling found that 64% of Americans had less than $1,000 in funds earmarked for a [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00January 25th, 2013|Financial Fitness, Personal Finance, Saving & Budgeting|Comments Off

The Fiscal Cliff Deal & Your Taxes

THE FISCAL CLIFF DEAL & YOUR TAXES What will change (and won’t change) as a result of the new legislation. Several tax hikes, some tax breaks. Now that the fiscal cliff deal assembled in Congress is becoming law, it is time to look at some of the tax law changes that will result. Here are the major details in the bill, which will bring significant tax hikes to some households in an effort to increase federal revenues by $600 [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00January 11th, 2013|Business/Economic News, Income Taxes, Personal Finance|Comments Off

Bad Money Habits to Break In 2013

BAD MONEY HABITS TO BREAK IN 2013 Behaviors worth changing for the New Year. Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns year after year. If you sometimes succumb to these financial tendencies, the New Year is as good an occasion as any to alter your behavior. #1: Lending money to family & friends. You may know someone who has lent a few thousand to a sister or brother, a [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00December 6th, 2012|Financial Fitness, Personal Finance, Saving & Budgeting|Comments Off

Why It Is Wise to Diversify

WHY IT IS WISE TO DIVERSIFY A varied portfolio is a hallmark of a savvy investor. You may be amused by the efforts of some of your friends and neighbors as they try to “chase the return” in the stock market. We all seem to know a day trader or two: someone constantly hunting for the next hot stock, endlessly refreshing browser windows for breaking news and tips from assorted gurus. Is that the path to making money in [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00December 6th, 2012|Financial Fitness, Investing, Personal Finance|Comments Off

Important IRS Adjustments for 2013

IRAs & workplace retirement plans have higher contribution limits. The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced. The 2013 IRA contribution limit: $5,500. This is a $500 increase from 2012, and it applies to both Roth and traditional IRAs. The IRA catch-up contribution limit for those 50 and older remains $1,000.1,3 The [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00November 29th, 2012|401(k)/403(b), IRA, Personal Finance, Retirement|Comments Off