CMP Financial Planning

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Quarterly Market/Economic Overview for the 3nd Quarter, 2017

- Oct 16, 2017

Stocks and politics here and globally seem to be running in parallel realities. In the political sphere, news of some crisis or political impasse, either in the US or around the world, grab our attention almost daily. The inability of governments to successfully address many of these events or issues would seemingly have a negative…

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August Economic Update

- Oct 02, 2017

The economy, unlike our political situation, keeps on chugging along, growing at an annual 2% clip.  Unemployment at 4.3% is at a 16 year low.  The positive stream of earning reports and economic news continues to support the stock market. The 2nd quarter saw US stocks rise by 3% and 8.9% YTD.  International stocks did…

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HSAs Double as Retirement Savings Vehicles!

- Oct 02, 2017

More Americans are participating in high deductible health insurance plans, making them eligible to also participate in a Health Savings Account (HSA). HSAs can be a super retirement savings vehicle. Here is why:  contributions are made tax free, they grow tax free, and withdrawals are tax free as long as they are made for  “qualified…

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Choosing a Corporate Trustee

- Jul 06, 2017

  For many parents choosing someone to look after their child with a disability is the most difficult part of their estate planning process. The chosen person must not only be responsible and committed to your child’s emotional and physical wellbeing but must also have the technical expertise to manage the child’s financial affairs. (The…

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Purchasing a Home For Your Family Member with Special Needs

- Jul 06, 2017

  As their child with a disability reaches adulthood, families give increased thought to their child’s housing needs.   Many families want to promote the maximum independence of their child while others are concerned for their loved one’s living arrangements after their own death.  In either case, home ownership can be a great way to provide…

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Quarterly Market/Economic Overview for the 1st Quarter, 2017

- May 01, 2017

The US and global stock markets continue to reach market highs. The US expansion is now in its eighth year. At the beginning of the first quarter market analysts were fixated on the next policy moves of the Trump administration. In anticipation of a more favorable business climate (e.g. Deregulation, lower taxes) stocks jumped higher….

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Social Security and Disability Planning

- May 01, 2017

If you have a special needs child who has a permanent disability, it is likely that social security benefits will be an important component of their special needs plan. Although in most cases Social Security benefit payments will need to be supplemented to pay for your adult child’s living expenses, particularly if they are living…

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Should I Establish a Special Needs Trust?

- May 01, 2017

One of the most pressing questions special needs families face with their estate planning is whether to establish a Special Needs Trust (SNT). Because individuals with disabilities are living longer, there is a stronger likelihood that they will survive both of their parents, putting more emphasis on careful estate planning including the use of tools…

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Savings Account Strategies for Individuals with Disabilities

- May 01, 2017

The creation of STABLE accounts in Ohio has given people with disabilities and their families a new tool to save for future expenses. In addition to STABLE accounts there are multiple savings tools that can be potentially employed including the use of Roth IRAs, 401Ks, Trusts, and pensions. Which accounts does it makes sense to…

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Life Insurance and Special Needs Planning

- May 01, 2017

The previous Disability Insights article addressed the importance of developing a comprehensive financial plan. A key component of any comprehensive financial often involves insurance. Insurance protects assets in case of premature death. For the special needs family, insurance can provide funding for a special needs trust set up to provide for the child with a disability….

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