May 2014 
Issue: 130
Sound, visionary stewardship

Welcome 


Earlier this month we joined a group of 200 financial planners from around the country (and world) in Miami to learn and share at the Financial Planning Association 2014 Retreat. It was a terrific experience and I wrote a blog post about it.

Even better was the weather! We spent two extra nights staying at a fabulous little place in Fort Lauderdale, right across from the beach. In fact, this great sunrise shot was from the balcony. After a long winter and a chilly spring, those extra days really did feel like the antidote for last few months.

Now this weekend is the "official" kickoff to summer for most folks. Spend some time reflecting about those who made the ultimate sacrifice for our great country to protect our freedoms. Then enjoy those burgers and dogs on the grill and planting summer veggies and flower.

Happy Memorial Day weekend!  

 

Cheers,   

    

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From Bill's corner... 

 

'File and Suspend'    

 

Raymond O'Dell owned a successful fast food franchise. His business ventures afforded him a lifestyle he never thought possible. Raymond bootstrapped his operation via a unique funding source, Social Security. Who knew Social Security was so lucrative? It was for Raymond, since he illegally collected his deceased mother's Social Security for 23 years. Over the years, Raymond O'Dell collected close to $200,000 in Social Security benefits using the funds to build his entrepreneurial ventures. At the time of his trial, his accountants estimated his net worth at $4 million. Luckily for the rest of us taxpayers, he was sentenced to pay back the benefits, along with fines, and received a six-month prison term. The gig was up when Social Security officials asked to speak to his mother. I guess the "she's not home right now" excuse wasn't too convincing.

 

Scamming the Social Security Administration (SSA) is not unique. In fact, it's been so rampant that the Office of the Inspector General (OIG) has a blog post on its website titled Deceased Payee Fraud; Strange But True. It seems that hundreds of deaths are not reported to the Social Security Administration until years after the actual death occurs. Another interesting and unbelievable footnote: over 2,000 Social Security recipients are between 115 and 195 years. Wow! I guess "she's not home right now" can be a convincing excuse after all.

While fraud is always lurking, a legal strategy to collect Social Security funds is beginning to catch the eye of the SSA as "too good to be true." The particular strategy is called "file and suspend," and its popularity is on a meteoric rise. In fact, the government is starting to re-evaluate whether "file and suspend" should be permanently suspended. In his recently released 2015 budget, President Obama targeted an end to the "file and suspend" strategy. Deep inside the President's 2015 budget was the following statement: "the budget proposes to eliminate aggressive Social Security claiming strategies, which allow upper-income beneficiaries to manipulate the timing of collection of Social Security benefits in order to maximize delayed retirement credits."

 

Read on...

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In This Issue
Ready to start saving?
Planning to pass on your family business
Tax breaks for every life stage
Why teens need a summer job
Life advice for the Class of 2014
In the media...on the blog
About us
Time to Share. Create a Buzz.
Noodle is the most useful place on the Internet for anyone who wants to learn. Noodle can help you find the right preschool, college, math tutor, soccer coach, negotiating seminar, or video on the quadratic equation. If you want to learn something, this is the place to start. And by the way, it's free.
When you are just starting out or finally starting to get serious about saving, the basics will get you far. Here are more than a dozen tips that will help you lay the base for building your net worth.

Planning to pass on your family business  

Don't put succession planning on the back burner. Grooming a successor could take several years.
Read on...

Tax breaks for every life stage

Don't miss out on these 35 money-savers.
Read on...

Why teens need a summer job  

Working can teach kids valuable lessons and help them build skills to land a full-time job.
Read on...

Life advice for the Class of 2014              

Spend your first working years getting your finances in order.

Read on... 

In the media...on the blog

WH Cornerstone's principal's are tapped by the media to write for and contribute to a variety of publications. Here are our latest contributions.
  • INVESTORS, PLANS AND MONEY: 'File and Suspend'
    Old Colony Memorial, April 28, 2014

And, from our blog... 

The Chef Run Restaurant Experience 

Explaining the difference between what our firm does rather than other financial services firms can be challenging. So here's an analogy we hope helps. Think about a national restaurant chain, like Olive Garden, and then think about a local chef run restaurant in your area. Our firm, WH Cornerstone Investments, is like a chef run...  Read More... 

 

FPA Weekend Retreat  

Last weekend a group of about 200 financial planners from around the country and world gathered in Miami to learn and share at the Financial Planning Association 2014 Retreat. Most of them were CERTIFIED FINANCIAL PLANNER™ Practioners--the industries gold standard of designations. Read more...  

 

Heroes, Monsters and Madmen...Oh My!  

Don't be scared. This is not going to be a post about any financial heroes, monsters or madmen-despite a few being out there. Rather, WH Cornerstone Investments is delighted to be a sponsor of this weekend's Spring Pops concert by the

Plymouth Philharmonic Orchestra. Read more...  

 

How The Stock Market Is Like A Soap Opera! 

And then, it dawned on me one day while talking to a client-the stock market is just like a soap opera! If you spend time watching it everyday, especially throughout the day-it can be a wild ride. Read more...

 

An Investment Selfie 

Selfies are the rage these days. They've been around for a while. But selfies really went mainstream recently because of two reasons: How easy it is to take one on the new iPhone or Samsung Galaxy, and, Ellen DeGeneres snapping one of herself and a bunch of stars at the Oscar's that went viral on... Read more...  

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,

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Paula Harris and Bill Harris, CFP
WH Cornerstone Investments
888.797.9009
www.whcornerstone.com
 

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