MILESTONES FINANCIAL PLANNING, LLC

                     Serving up financial planning and investment advice with a dash of fun!
OCTOBER, 2010 NEWSLETTER      
volume 1, issue 6
In This Issue
Almost-Famous Recipe
Not Clients
Fund Find of the Month
The 8% Solution
What's the state?
 Almost-Famous Recipe of the Month
baked beans
Secret Ingredient Baked Beans
I knew this recipe was special when my cousin, a doctor in PA, visited recently. He hadn't been here for seven years (at least!), but when he found out we were having these beans for dinner, he said it made the trip worth it!

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Find more recipes at the Milestones website by clicking on (Almost) Famous Recipes in the left-hand sidebar. (NOTE: this column began in September 2010 so keep checking back as we add 'fabulicious dishes' you won't want to miss!)
 



Milestones is a Fee-Only firm!
Fee-Only financial advice






Quick Link
Website of the Month

Got debt problems? Have I got the answer for YOU!


Esteemed Lending Services

Do you have any friends or family members in desperate need of debt relief? Unfortunately, there really are no quick and painless solutions. The Federal Trade Commission ("FTC") has done a good thing for consumers, though, because desperate people are perfect targets for scammers. The above website was created with intent to draw people into the web of an easy answer - and then educate them. Try it - you'll see! And...if you know of someone who could use a little advice, please pass it on. Who knows? You might save them a lot of heartache!


Armbrusters This couple is not our client
Margie and Jim Armbruster of Murray, KY are very special people around here. Margie is a very dear soul who is as sharp today as when she served her country in World War II. She remembers numbers better than I can! Her devoted husband, Jim, loves to have her riding shotgun when he toodles around in his (not hers!) Mustang convertible. Margie has brought her famous pineapple cake for us during tax season and crocheted a blanket for my first grandchild. I treasure her wicked sense of humor and the stories she emails to me. We are graced by their friendship,  thankful for their business, and care for them far more than the word "client" can possibly convey.
 
Fund Find of the Month TGLDX
For the past year, we have consistently invested most clients in TGLDX.The fact that this fund has returned an impressive 24.57% average annual total return over the past 10 years is great, but that's not the only reason we like it. In fact, if you are a Milestones client, you know that we look at much more than the returns when we select a fund.gold bars I think TGLDX sparkles for several reasons:
  • Portfolio manager John Hathaway has been with them since the beginning (consistency)
  • TGLDX has a low turnover - only 9% (wise money management)
  • The fund invests in gold mining equipment in addition to pure metals (lowers volatility), and
  • Over the past 12 months, it has beaten its benchmark by almost 26%
If you are considering TGLDX, keep this in mind:
  • This is a fund for the long term - you'll pay 2% if you liquidate within 120 days
  • TGLDX should be used only as a part of a well-diversified portfolio and is not suitable for every investor
  • Past performance is no guarantee of future results
  • Information given in this newsletter is for general public information only. Be sure to consult with your investment advisor and/or CPA for questions relating to your specific circumstances.

no social security card Social Security:The 8% Solution
The article, "The 8% Solution" appeared in the September 2010 issue of Financial Planning magazine. Written by planner Donald J. Korn, the central point of his discussion is that it is almost always beneficial to wait as long as possible to begin drawing your social security benefits. In fact, the general rule of thumb is that waiting beyond the "normal" retirement age (66) until age 70 will reward you with a 32% increase in your benefit checks, or 8% per year. The same happens if you don't begin taking checks at age 66 but wait until age 70 - your "DRC" (Delayed Retirement Credit) increases by an average of 33.33% - not bad in these days of 1.25% CD rates! Of course, a risk is that you will not live long enough to recover the difference in benefits. But here, also, the news is not all bad: delaying
benefits increases a widow's pension substantially. You can read the full article online at Financial-Planning.com.

USA map What's the "state" of your finances?
I'm not talking about "poor", "great", or "rapidly depleting". You may not realize it, but financial planners and Registered Investment Advisers ("RIAs") routinely provide advice, services, and investment management for clients no matter what state they live in.

Do you hate to sit in traffic or dread making appointments? You're not the only one! If you're reading this newsletter from the comfort of your office chair or kitchen table, you're probably a great candidate for remote access financial services. Clients tell us that they get more attention this way than they ever did with traditional services. Why? Because it's so easy to find information, get rapid response when they email or call us, and review online reports. Call Michelle at 270/247.0555 or email her to find out more.

Mark your calendar for October 15 because...
  • It is the extended due date for filing your personal income tax returns
  • It is the final day you can set up and contribute to a SEP-IRA
  • It is the deadline to recharacterize any 2009 Roth IRA conversions
TAX TIP: If your personal income tax return is complete, but you can't pay all you owe, go ahead and mail your return  including as much as you can afford. This will prevent your being assessed with a "late filing penalty". (You'll still owe late payment penalties, of course.) You can then make arrangements with the IRS for a payment schedule. Call our sister firm, Johanna Fox, CPA, Inc. at 270/247.6087 for more.
 
Whoever said, "You get what you pay for" didn't know about our newsletter
Want an even better deal? Email us your financial question and we'll try to feature it in an upcoming edition. (At the very least, you'll get a personal response from Johanna.) Do your friends and family a favor and forward this to them so they, too, can get a serving of "financial planning and investment advice with a dash of fun"!
Contact Information
JOHANNA TURNER, CPA, CFP, Owner/Member
[email protected]
270/247.0555 | 270/247.2918 (fax)

Save 10% on QuickBooks classes Our semiannual QuickBooks classes begin November 2 at our sister firm, Johanna Fox, CPA, Inc. Use this coupon to save 10% off of the already low prices for these classes. Call us at 270/247.6087 to find out more or click here!
Offer Expires: October 26, 2010