Understanding those tax terms is important in your financial education!

Let’s talk about getting yourself organized for filing your taxes.

Are you looking to craft your annual financial action plan? Use these steps to get you going:

• Set Goals

• Determine Your Roadblocks

• Schedule Time to Focus on Your Finances

• Determine Factors to Track Your Progress

• Pick Your Money Buddy

• Craft Your Celebration Plan

By: Amy Irvine, CFP®, EA, MPAS®, CCFC

Although we are a full month into 2021, I’ve heard so many people say, “it feels like an extension of 2020.” I’ve joked that 2020 was the year of Flip Flops, Crocs, and Slippers (the number of times I put on dress shoes could be counted on one hand), and it does seem that it is continuing thus far. What does this have to do with finance? Well nothing actually, but it seemed like a distracting lead into talking about comparing year over year net worth and important financial ratios.

Whenever I write or talk to people about their increasing net worth, I always think about when I was in college, and I belonged to an accounting club (yes, I was a little geeky). We were doing some fundraising and the sweat shirts we were selling had the name of the accounting club on the front and the tagline, “Up Your Assets.” For an 18-year old, that was so cheeky! Well here we are 31 years later and I’m being a little cheeky again. I just thought it was so fitting for the theme of this month, which is to understand your net worth and important financial ratios.

Do you have a goal to get financially organized for 2021? This VLOG is for you!

By: Kerrie Beene, CFP®

Happy New Year! With 2020 in the rearview mirror, we are hoping for a great 2021.

January is a great time to think about getting all of your financial paperwork organized. Organizing will create a calm space, save time in the long run, and help prepare for tax season. Below are 5 ways to help get your financial life in order.

By Kate Welker, CFP®

Can we all agree this year has just been weird? As we head into the end of the year and the holidays it is a natural time of reflection and a slower pace and I believe we all need to embrace that, especially this year. Our holiday celebrations look a little different than in the past. Many of our readers will not be able to see their family, may be struggling financially, or may just be overwhelmed with the changes we have seen. Along with all the craziness and negatives that the world is focused on, there have been positive opportunities this year! I want to encourage you to think back on the year and find the positive moments that might not have happened if we hadn’t been in a global pandemic. Regarding your finances I want you to look back at the year, and decide how you want to move forward.

By Ann Arceo, AAMS®

While some of us may not feel like celebrating this year, others may feel like the holidays need to be extra special. It can all add up to a lot, and the excitement of a new year can quickly be ruined by a large credit card bill from your December shopping spree. Here are a few quick tips that we’re following to manage our holiday budget.

Over the course of this year, many clients have expressed anxiety, feelings of being stressed out, and lost. So we reached out to a local therapist to get her two-cents on how to hire someone if you feel you need someone to talk to.

Guest Post by: Janice Vitale, LCSW-R

The holidays hold many different feelings for people. For some, the holidays have positive feelings associated with them. For others, the holidays are stressful, or they have complicated feelings including sadness, grief, or loneliness. Whether or not you are a fan of the holidays, they are likely going to be stressful this year due to the pandemic. There is a lot of grief and loneliness as people mourn traditions they aren’t able to participate in this year.

By: Becky Eason, CFP®

The holidays are upon us and although 2020 isn’t a traditional year people are still getting into the holiday spirits. Gifts have become a huge part of the holidays, which we all know can add a lot of additional stress. This year there is the added stress of what is the best way to get gifts to loved ones? Shipping can be expensive and you risk packages getting delayed, lost, or broken so I wouldn’t be surprised to see more monetary gifts be given.

By Kerrie Beene, CFP®

Happy Thanksgiving Week! It is a happy and sad time all wrapped up in one turkey.

We all have things to be thankful for while at the same time most of us are directly or indirectly affected by COVID. In this unfortunate time, 2020 Thanksgiving will not be the same for most. For me personally, we have decided to take precaution and cancel our normal gathering with my grandma. It was a hard decision but a few of the family members will be visiting her to keep her mental health in the forefront. While this is not ideal, keeping both our mental and physical health in good condition is the most important thing at this time. This situation will be the case for many, here at Rooted Planning Group we put together a list of things we can all do to stay mentally healthy during our COVID Thanksgiving.

By Kate Welker, CFP®

What can you do to protect yourself and those you care about from risks to finances and decision making as you age?

Some caregiving situations require the services of a long distance caregiver. According to the National Institute of Aging, a long distance caregiver is someone that lives an hour or more away from a person who needs aid.

What are some of the roles of a long distance caregiver? Depending on the relationship, some duties may include home care, money management, medical correspondence with professionals, legal paperwork, medicinal disbursement, emotional support, family informant, etc.

November is National Family Caregivers Month! There are millions of heroes out there who provide care to their loved ones and their efforts are all too often overlooked. It’s not an easy job and the pressure caregivers put on themselves can be enormous. In honor of this important month, we’re outlining some steps you can take to take care of yourself emotionally and financially to make sure you can continue to provide great support to others.

As of October 1, 2020 FAFSA applications can be completed for the 2021 - 2022 academic year. And don’t forget, even if you’re already in college and you plan on attending next year you need to complete the FAFSA for each and every academic year.

By Kate Welker, CFP®

This month we want to continue to remind our readers that it will soon be open enrollment through your employer and Medicare, the time of year you are able to review and change your health insurance and other benefits.

There are several posts on our blog that cover this topic more in depth:

• Last week Rachel discussed how to review your health insurance options and prepare for making that decision in her post “Knock, Knock - Open Enrollment Who?”

• Last year I wrote a guide to the terms and options you may be deciding on in a post titled “Build Your Wealth by Taking Advantage of Benefits Open Enrollment.”

Open Enrollment for 2021 runs from November 1, 2020 through December 15, 2020. Coverage begins January 1, 2021. It is a time in which individuals are required to opt in or out of health, dental, and vision insurance for the upcoming calendar year.

By: Becky Eason, CFP®

Student loans impact people of all ages, from high school through retirement. This may come as a surprise to some people, because it’s often thought that student loans are a millennial “issue”, but that’s not necessarily the case. In fact, many adults who are either planning on retirement or already in retirement are faced with student loan payments.