Free Thinking - February 2019

Free Thinking - February 2019

February 07, 2019
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Money Tip of the Month

It’s tax time!  1099 mailings are underway.  You can now begin accessing your 1099s online:

  1. Go to and log in
  2. Click on the Documents & Statements tab
  3. Click on Tax Forms and then 2018
  4. Click on any Statement to view and download

Thank You!

Thank you for promptly signing the new account documents as we changed our Registered Investment Advisor affiliation from Independent Financial Partners to Independent Advisor Alliance.  With your help, we were able to handle over 93% of the documents electronically, probably a world record!  We are glad to have this transition behind us and look forward to returning to business as usual.

Money Tip of Forever – How to Survive Anything

The recent government shutdown triggered many stories of woe – families unprepared for any interruption in weekly or monthly income.  Commerce Secretary Ross was skewered for suggesting families should just take a loan and didn’t understand why they needed to use a food bank.  As tone deaf as he may have been, there is truth in what he said.

The best time to start preparing for an income interruption is when you get your first pay check.  Step one of any financial plan is to build an emergency fund.  Rules of thumb vary, but the first goal is to be able to cover three to six months of expenses with either cash savings or easily accessible credit.

As you progress through your career, you should continue saving – for retirement, emergencies, college, the lake house of your dreams, etc.  If you plan to retire in your mid-60’s and live for 30 years with no income, shouldn’t you have some milestones along the way?

For example, by your mid-20’s, shouldn’t you be able to easily weather a few months of no income?  By your mid-30’s, you should have a year or two of reserves.  By your mid-40’s, you’re half-way to retirement and should be able to live for many years with no income.  By your mid-50’s, you should be ready for an unexpected early retirement.

I know – you think I’m crazy.  I’m not implying these periods of no income wouldn’t have a big impact on your overall goals.  Of course they would!  But you still need to prepare for unforeseen events.


Feel free to call or email us any time.


The opinions voiced in this material are for general information only and are not intended to provide specific tax advice or recommendations for any individual.