WH Cornerstone Investments
May 2012 
Issue: 105
Sound, visionary stewardship

Welcome 

Greetings!

Did Memorial Day sneak up on you like it did to me?  May showers have brought May flowers. Last weekend I spent playing with my compost piles and sifting soil for my pots. This weekend all the veggies and flowers are going in. I just love to watch everything grow at this time of year.   

 

While you are celebrating, pause for a moment and remember those who have given their life in service for our nation. I am always moved by the speakers at our town Memorial Day celebration. It's usually a two+ tissue event for me. 

 

Have a happy and safe Memorial Day weekend with your family and friends!  

 

Cheers,    

     Paula Signature 

p.s.   Last month I had pleasure of writing our monthly newspaper column. It really struck a cord with a lot of women. Feel free to take a read: Women should not fear their finances.  

 

 

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From Bill's corner... 

 

IRAs, Roths, Taxes and More      

 

Last week I spent a few days in studying in Phoenix with Ed Slott, nationally known expert on retirement distribution planning.  It was 106 degrees and I only brought a suit with me. UGH! While folks were hanging out by the pool, I had my head in text books studying about the latest tax codes and how best to leverage it especially relating to IRAs. There is tremendous opportunity to take advantage of the current estate planning laws before the end of 2012.  

 

Are thinking about whether you should convert your IRA (all or part) to a Roth IRA now or make some other key financial moves? If so, give me a call and we'll talk about what might make sense for you. 

 Bill signature

In This Issue
8 great rules to grow your money
If you're under 40, don't bank on Social Security
Why hiding money from your spouse has gotten a lot harder
Who gets the vacation home?
10 things your commencement speaker won't tell you
About us
Very Import Stuff. Time to Share. Create a Buzz.
 
Emerging Fraud Trend: Hostile Email Account Takeover

Do you know who is on the other end of that email address? It might not be as apparent as you think. Fraudsters have an arsenal of methods to help get their victims' personal information.
 
The financial services industry has seen a significant increase is email hacking. In this type of fraud, an unauthorized person uses malware-such as a keystroke-logging or "keylogging" program-to take control of a victim's email account, often by secretly stealing their email login credentials. The fraudster then monitors the email account and identifies the financial institution(s) with which the victim does business.
 
In some cases, fraudsters then contact advisors by email disguised as their client. They ask for help facilitating a wire request to a destination that appears to be legitimate, but is in fact fraudulent.

Suspicious Signs

Originating email address is not the true email.
Example: A lowercase "L" and a capital "I" can sometimes be indistinguishable.
joel.doe@schwab.com (small "L")
joeI.doe@schwab.com (capital "I")

Originating email address changes during the course of emails.
Example: A fraudster might hack a client's email address, inform the client's advisor that his or her email has been hacked, and ask the advisor to use a new email address that the fraudster provides.

Originator makes an urgent request to send a wire to a third party.
Example: Fraudster requests a wire be sent in U.S. dollars to bank in Hong Kong because of a death in the family.

Originator states he or she is unavailable by phone.
Example: The purported client states that he or she is out of the country, about to board an airplane, at the hospital, attending a funeral, and so on.

Time zone stamp on the email does not match the account holder's geographic location.
Example: Client lives in on the East Coast, but the email time stamp does not correspond.
 
Best practices:
  • Pay attention to spelling and grammatical errors, as well as the tone of email communications. Does it sound like who it is suppose to be?
  • Make sure you update your computer's operating system.
  • Activate your computer's firewall.
  • Install anti-virus software.
  • Install anti-spyware software.
  • Do not open attachments from unreliable sources.
  • Use extra caution when using a public computer or logging in away from home.
8 great rules to grow your money

 

After more than two decades of helping people like you with their finances, Jean Chatzky compiles the most important rules you must know now.

 

If you're under 40, don't bank on Social Security     

 

If Plan A in your retirement scheme is Social Security, it's time to start working on Plan B.

 

Based on recent reports from the folks responsible for the Medicare and Social Security Trust Funds, Americans-especially those under age 40-need to reconsider their retirement plans.  

 

Read on...

Why hiding money from your spouse has gotten a lot harder


Thanks to technology, hidden marital assets may be just a few clicks away.

Read on...

Who gets the vacation home?        


Is there a way to hand off a vacation home to the next generation so that everyone still wants to spend time together there?

Tensions often mount when a family figures out what to do with a property that could be a lightning rod for sibling rivalries-not to mention a sizable chunk of an estate.


Creating a new generation of family vacationers is the exception, not the rule, and it requires thoughtful planning.

 

Read on... (corrected link this month)

10 things your commencement speaker won't tell you         

 

Dear Class of 2012...

 

Here's what I wish someone had told the Class of 1988. 

 

Read on... 

About us

We are authentic, thoughtful, straight-shooters who provide the sound, visionary  stewardship that helps our clients protect their financial foundation while building their wealth.

 

We are private and independent, which means we have the unique ability to build deep, meaningful relationships with our clients with no competing agendas.

 

We have several decades of broad financial and business expertise that enables us to knowledgeably advise on a wide range of financial and business affairs and to help our clients navigate the sea of complexity with confidence.

 

We are strong believers in the power of near-term, actionable planning and disciplined focus on forward-facing goals.

 

We are at our best when we help our clients optimize their financial resources to realize their goals and dreams.   


Cheers
,

road map image
Paula Harris and Bill Harris, CFP
WH Cornerstone Investments
781.934.9154
www.whcornerstone.com 

Sound, visionary stewardship