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  • Tax bill may squash your dream of a second home

    by Peter J. Creedon

    by Lorie Konish If you already have a $750,000 mortgage and plan to buy a second home next year, you will not be able to deduct the interest on that loan, according to Tim Steffen, director of advanced planning at Baird Private Wealth Management. If you have a smaller mortgage, let’s say $600,000, up to…

  • Watch out for hidden taxes when retiring to a new state

    by Peter J. Creedon

    by: Lorie Konish Retirees should look at all state and local rules, said Peter J. Creedon, CEO at Crystal Brook Advisors. That means watching for higher taxes or fees on everything from registering cars and boats to taxes or surcharges on resorts. “Many states have all these little fees,” Creedon said. “They’ve got to make…

  • What Your 401(k) Can Look Like in the Next 20 Years

    by Peter J. Creedon

    Or consider this example from Peter J. Creedon CFP®, ChFC®, CLU®, chief executive officer of Crystal Brook Advisors, New York, N.Y. “A 25-year-old who invests $5,000 a year with an 8% average annual return for 43 years should have approximately $1.65 million. If you started saving 10 years later and invested $5,000 per year with the same…

  • Entrepreneurs: You’re in the People Business

    by Peter J. Creedon

    by Elainna Ciaramella For many aspiring entrepreneurs, they’re enticed by the idea of being their own boss, by making their own schedules, and by being in control of their financial destinies. They don’t have a clock to punch, nor do they have a boss to answer to. Since they’re going to be in charge, they…

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