Business By Tom Yamachika, Tax Foundation of Hawaii | Monday, April 2, 2018, 12:05 a.m. Share this story A recent news release from the Hawaii State Senate Majority Caucus says: The Hawaii State Senate has drafted, discussed, and voted on SB508, SB2415, SB2484, SB2489, SB2699, and SB2821 that are projected to generate approximately $72 million in revenues based on the Department of Taxation estimates. The current state financial plan shows the state is overspending by $208 million this fiscal year, $263.2 million in FY 2020, $209.7 million in FY 2021, and $105.4 million in FY 2022. ADVERTISING The additional revenues derived from the Senate bills will be added to the general fund which will allow the state to pay for government services, debts and liabilities, and to reduce financial shortfalls for the next five years. With the Senate voting on the final measures, combined with the updated Jan. 8 Council of Revenues forecast, the state revenues to the … [Read more...] about Financial planning for $200M per year deficit
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Last Updated Jul 21, 2010 10:54 AM EDT Retirement planning can be complicated, and many people will need some help from trained professionals. Unfortunately, that help won't come for free -- nothing worthwhile ever does. In reality, "free" financial planning advice often ends up being very expensive. When buying financial planning services, I advocate the "Goldilocks solution": Don't pay too much or too little -- try to find the amount that is just right. To help you figure out what's "just right," let me offer two examples that illustrate the extreme ends of what not to do. Here's the first example: The list of people who are happy to give you free financial planning advice is endless: your brother-in-law, your next door neighbor, your buddy at work, even your hair stylist. Before you put any of their advice into play, ask yourself this: What sort of training do they have in investment and retirement planning? Unless they have professional credentials, I'd recommend you politely … [Read more...] about How Much Should You Pay for Financial Planning?
Until you buy the winning Powerball ticket, the Financial Planning Association of Minnesota has another idea to help you prepare for retirement — and it won’t cost $2. On Saturday, the association will host its annual Financial Planning Day, a chance to meet with investment professionals with no sales pitches, long presentations or fees. Anyone can show up at the Wilder Center in St. Paul, attend classes and get up to 30 minutes of one-on-one time with a certified financial planner to ask any question or cover any money topic, no matter how simple. When should I start taking Social Security? What’s the best way to reduce debt? Am I investing my 401(k) in the right mutual funds? Should I open a health savings account? Do my kids deserve an inheritance? Those are some of the questions asked in the past. Kyle Nemeth, a 43-year-old state employee, said he’s found the event very helpful in past years. “Last year I went to one of the investment workshops for an … [Read more...] about Minnesota financial planning group prepares for annual event to help savers and investors
We are all faced with many dilemmas on how to manage our money, and ensure we're setting aside enough to meet our goals. These could be retiring early, saving for school fees or giving yourself enough to travel the world as part of a career break. It is possible to meet your goals with diligent saving and some shrewd DIY investment decisions. Reader Service: Carefully review your existing investment arrangements with the Telegraph Investment and Retirement Service This is where we can help. If you want to be a DIY investor, we can offer to capture your financial situation and ask two experts to devise financial plans - for free. Remember that building your wealth up on your own isn't for everyone - some feel more comfortable with the constant vigilance of a financial adviser who can help select investments to match your changing attitude to risk and can highlight valuable tax breaks. Our plans don't replace tailored financial … [Read more...] about Do you want a money makeover? Get a free financial plan
By Tim Grobaty | [email protected] | Press-TelegramPUBLISHED: January 25, 2018 at 3:12 pm | UPDATED: January 25, 2018 at 3:15 pm A misconception about Santa is that his year is 364 days of boredom followed by one night of sheer terror. It’s not true. Santa has a life. The taxes alone are worse than a nightmare when you work in not only the 50 United States, but 160 or so countries that celebrate Christmas. Exxon taxes are easier. And there’s more. Just keeping up with modern culture, social media, fashion, ukulele lessons. It never ends for Santa. But there is the occasional break for Santa and those whose vocation is portraying him in shopping malls and corporate parties every winter. This weekend, members of the Fraternal Order of Real Bearded Santas is meeting at the Sheraton in Cerritos for its 24th reunion, and at 10 a.m. Friday, some 50 real bearded Santas, Mrs. Clauses and assorted elves will be enjoying a day of free play in Long Beach by visiting the … [Read more...] about What does Santa do in the off season? Come to Cerritos for a sock hop, financial planning and ukulele lessons