Shannon & Associates Client Bulletin

Economic Stimulus Act of 2008
On February 7, Congress passed the Economic Stimulus Act of 2008 (StimulusAct), and President Bush signed it into law on February 13. The new law includes three big tax breaks...

Becoming a Financially Savvy Single Parent
Raising children without a partner is an enormous challenge—emotionally, physically, and especially financially. Overwhelmed by the work involved in earning a living and caring for children, single parents can sometimes feel they will never be able to break the cycle of living paycheck to paycheck. But even if you have a limited income, you may find that simply managing your money better can alleviate your financial problems and allow you to save for the future....

Term Conversion: Changing Times, Changing Needs
Suppose you had purchased term insurance when you were just start- ing out in life to help protect your growing family. At the time, term insurance may have offered the flexibility to help meet your family’s immediate needs at an affordable price...

The Importance of Disability Income Insurance: Many people may pay little attention to how they might handle their family’s living expenses should their income suddenly cease because of an unexpected illness or injury. Perhaps this is because most people believe an injury or illness will never happen to them. However, the statistics are unsettling.

How resourceful can you be during your retirement? Determining where your retirement money will come from is an integral part of planning for retirement. Most people draw on three main sources of income during retirement: Social Security, employer-sponsored plans, and personal retirement savings. Each offers important resources that will add to your overall retirement plan.

Saving for Education with Coverdell ESAs: The average price tag for four years at a private college exceeds $120,000, according to the College Board’s Trends in College Pricing 2006. That’s 35% higher than just five years ago. In fact, rising tuition costs are outpacing inflation; at the same time, federal grant aid is lagging behind inflation.

Shielding Your Finances from Disaster: Recent catastrophic events, ranging from natural disasters to terrorist attacks, have clearly demonstrated that the homes and livelihoods in which Americans have invested over many years can be wiped out in a matter of hours.

After years of debate, Congress has finally passed sweeping pension legislation—the Pension Protection Act of 2006 (the Pension Act).

In the language of life insurance, a beneficiary is the recipient of the proceeds of a policy when the named insured dies. The owner of a life insurance policy has a great deal of flexibility in naming beneficiaries and can generally name anyone he or she chooses.

Whether your estate plan is simple or complex, there are many details, often overlooked, that can undermine your plan’s effectiveness. Below we’ve listed ten common estate planning mistakes. Although these are numbered, there is no intention to indicate severity or prevalence.

Naming a beneficiary for your traditional Individual Retirement Account (IRA) need not be a difficult task. Most people choose their spouse, if married, or another loved one. However, the rules governing the distribution of IRA assets to beneficiaries are not so simple.

If you have been fortunate enough to accumulate substantial assets during your lifetime, do you know that estate taxes may reduce the amount you'll be able to pass on to your heirs.

Market swings often prompt investors to reassess their portfolios. As you evaluate the efficacy of your investments in light of your financial goals, it's important to revisit two key principles—asset allocation and diversification.