Findit, Inc. a Nevada Corporation (OTC PINK:FDIT) owner of Findit.com, a full service social networking management platform which provides online marketing services, is featuring Findit member Price Law Group who is prepared to assist individuals and businesses with bankruptcy filings as a result of the financial crisis brought on by COVID-19.     Price Law Group specializes in Chapter 7 bankruptcy filings for residents in California, Arizona, Texas and Nevada. With the economic fallout as a result of COVID-19, millions of Americans have found themselves without a job, reduced hours or wages/salary, placement on indefinite leave, or fired from their place of employment or lost their source of income. With bills still due and debts continuing to mount, Chapter 7 bankruptcy can be the only solution for many Americans. In an effort to reach as many people as possible who may need assistance with their Chapter 7 bankruptcy filings in California, Arizona, Texas and Nevada, Price Law Group engaged Findit to assist with improving their online presence and exposure for bankruptcy filings as a result of COVID-19. Utilizing Findit’s claim your name feature, Price Law Group added 5 Findit names related to COVID-19 related Chapter 7 bankruptcy filings in the   Read more…

Who has time to really understand their investments? After all isn’t that the reason most investors outsource their investment decisions to a financial advisor? Taking the time to learn the market is a vocation in itself. But if time is money, then knowing why you bought what you bought is a good part-time job to pursue. After a market correction, there always seem to be a few brave investors that dig deep into their portfolios to examine what they own. Often-too often-they are surprised to discover after educating themselves that they should never have invested in the financial product they bought for their portfolios and retirement plans. Content: Many investors may have complex mutual and electronic traded funds allocated in their retirement holdings that are too risky based on their risk tolerance. Undergoing a risk-assessment test can be a first step in building a financial profile. If your psychological profile just can’t handle the wild swings of the market, a 20-year time horizon may not be able to bring solace to your frayed emotions. You may have to seek out lower beta-risk products. Sometimes it’s not a matter of risk, it’s a matter of costs. Some investors have no idea   Read more…

According to a Wall Street Journal article in October of 2014, life expectancy has increased to an average of age 65 for males and age 86.6 -88.8 for females.  It is estimated that women survive their husbands 87% of the time and average around age 93 at death. But that’s the average, which means half will live longer! In 2014 it was estimated that over 72,000 American seniors were age 100 or older, worldwide the number was about 450,000.  By 2050 there may be 3,676,000 seniors living on the planet.  So even without any significant medical advancement, the numbers of senior centenarians could become dramatically higher. In light of this great mortality revolution, should you start planning to live to age 100?  You may need to prepare yourself for age 100 if your family tree already contains longevity and/or you exercise religiously and are committed to a healthy diet. There also seems to be a gender advantage towards women in life expectancy stats. Preparing for geriatric living starts with guaranteed income you can’t outlive via lifetime annuities with a cost of living rider.  Preparing for elder years should include retrofitting your home for single level living with stairs turned into   Read more…

There are basically three things that can mitigate your tax bill: tax deductions, tax exemptions and tax credits. You need to use every legal tax deduction under the IRS rules. A variety of tax software exists to escort you through the list of legitimate tax deductions.  Keep in mind that your income may play a significant role in phasing out some deductions. You need to use your exemptions for yourself, your spouse and dependent children or qualifying seniors that live in your home. Tax credits may be available at lower income thresholds that could offset any taxes due. The IRS has categories that you can select to use with your tax filing like individual, head of household, married filing jointly or married filing separately. Sometimes the last two categories should be calculated to determine which way saves you more in taxes. Adjusted gross income may not be the number to look for at the bottom of page one on your 1040 form. It may be modified adjusted gross income on the second page that could really matter. If you are a Social Security recipient, you have to also consider the impact of earnings, retirement distributions and any non-qualified monies that   Read more…

There is a variety of budgeting software available online, some of which is free. But in today’s modern family, the best way to construct your budget is to simply look at the things you purchase or pay for with checks and charge cards. It’s not the best way to begin creating a budget, but for many it’s the best place to start. Most budgetary items are monthly, some quarterly and others semi-annually. Most income is bi-monthly, so the goal is to split your monthly expenses evenly between the first and latter half of the month.  Hopefully this will create less pressure on your cash flow. Many graduates from high school and college are shell shocked when they receive their first paycheck and notice their net proceeds are far less than they anticipated, so a budget is determinate on the net proceeds not the gross. You may want to consider increasing your exemptions to a point that you have no refund, but you do have increased cash flow. There are basically three budget categories: Essentials, Savings, and Discretionary. Essentials Expenses are the obligations of life: housing, utilities, food, medical, transportation, clothing and basic education costs from kindergarten to senior year in   Read more…

Don’t be thinking about your bucket list until you’ve completed your life event checklist. There are so many life events common to most people that effect income needs, such as the birth of a new child or grandchild and their subsequent education.  At the opposite end of the spectrum, preparing for the death of a breadwinner or family member can have a dramatic monetary effect on income needs and estate planning. Future inheritance should be part of the planning process as well, including how the money should be used. A change in marital status can have a huge financial impact whether you’re going from being single to married or experiencing a divorce. When most people receive a raise they haven’t considered what to do with the extra money, or when securing a new job how the income will be distributed to meet their budgetary obligations and savings. Protecting assets and human capital resides in the purview of insurance coverage that should include life, health, disability income, and auto, home and personal property insurance (including specific assets like jewelry, musical equipment and recreational vehicles). The sale of your home or other assets may have tax consequences to be considered, so it’s   Read more…

When Willard Scott was on TV as America’s weatherman, he’d often insert into the show birthday wishes to those turning age 100 and place their faces on a Smucker’s jar. In 2014 it was estimated that over 72,000 American seniors were age 100 or older, worldwide the number was about 450,000.  By 2050 there may be 3,676,000 seniors living on the planet.  So even without any significant medical advancement, the numbers of senior centenarians could be dramatically higher. In light of the greatest mortality revolution, should you start planning to live to age 100?  You may need to prepare yourself for age 100 if your family tree already contains longevity or if you exercise religiously and are committed to a healthy diet. There also seems to be a gender advantage towards women in life expectancy stats. Preparing for geriatric living starts with guaranteed income you can’t outlive via lifetime annuities with a cost of living rider.  Preparing for elder years should include retro-fitting your home for single level living with stairs turned into ramps, converting bathtubs into walk-ins and kitchen shelves that lower to the counter. Most baby boomers are vehemently against living in a nursing home facility, so preparing   Read more…

Adjunct professor of the American College, Curtis Cloke, RICP says there are 18 to 20 retirement risk factors that may need to be addressed when designing your retirement plan. It’s a daunting task to design a retirement plan that covers every one of those items and that’s why you need a retirement expert to assist you. Here are the top ten retirement risks. Medical Health (Frailty): Medicare and supplement plans can help with healthcare costs, but catastrophic events could overwhelm your budget and your emotions. Long Term Care: For most retirees it is an inevitable event that consumes assets in the later years of life that can leave you living off of Social Security only. Financial Elder Abuse: Scams, unethical advisers and strangers prey upon unprotected seniors, but the vast amount of thefts are from family and friends. Sequence of Returns: Withdrawing monthly income from your portfolio can be dangerous in a down market and can inadvertently quickly reduce your portfolio’s size. Inflation: Real inflation can rob the purchasing power of your retirement dollar for the commodities you need to live on in retirement. Liquidity Risk: Life happens. Whether you need to pay deductibles for unforeseen auto, home and medical   Read more…

Most retirement plans have not incorporated the longevity risk. Mortality risk is a risk multiplier that acerbates other retirement risks. Without mitigating mortality risk, many middle class retirees could exhaust their 401(k)s and be left with Social Security and a little equity in their homes. The possibility is based on the sequence of returns, the math principle of withdrawing from your retirement plan in down markets. The sequence of returns during that period of the Great Recession left some retirees reeling with cash shortages and a future some are still recovering from. Living longer may affect the quality of life because medical bills and long term care costs will absorb discretionary dollars. 70% of seniors today use some long-term care assistance. Living longer will only compound the problem and the expense. If the baby boomer generation gets tight with their money, it could cause a rippling affect on the economy as spending grinds to a halt. Inflation is a real and ever present danger to seniors. It doesn’t matter what the declared rate of the CPI is or any other inflation indicator, if it doesn’t include the commodities of life; it’s a worthless gauge. The purchasing power of your retirement   Read more…

There is no other investment or savings funding tool that can guarantee lifetime income except annuities. As an individual the average male lives 86.6 years and the average female lives 88.8 years. The surviving spouse in a marriage averages living to age 93.  87% of the time the surviving spouse is a female. Half of all Americans will live longer than those averages.  If the surviving spouse average is age 93 that’s 31 years from age 62 which is the starting age for many guaranteed lifetime annuities. So the average internal rate of return for lifetime annuities is benchmarked at age 62 for 31 years. Those returns could be somewhere around 3% net of all product expense loads. It could be 4%+  if those at age 93 live to age 100. How can annuity manufacturers guarantee lifetime income? The answer is mortality credits. The theory uses the law of large numbers and those who don’t survive the averages are credited to those who did survive the averages. Mortality credits are not correlated to the market returns like those of bonds and their credited interest or stocks and their dividends earnings. They’re based on surviving the odds. If Jeanne Calment owned   Read more…