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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, 
We are proud to be a Registered Investment Advisor. Learn more about the benefits of working with an RIA.  Have you connect with us yet?    
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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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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.
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Planning to pass on your family business
Don't put succession planning on the back burner. Grooming a successor could take several years.
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Tax breaks for every life stage
Don't miss out on these 35 money-savers.
Read on... |
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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... |
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Life advice for the Class of 2014
Spend your first working years getting your finances in order.
Read on...
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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...
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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,
Paula Harris and Bill Harris, CFP WH Cornerstone Investments888.797.9009 www.whcornerstone.com
begin it.TM
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