The news from Japan should, first and foremost, be viewed as a human tragedy of horrific proportions. We extend our prayers to the people affected by the earthquake, tsunami and nuclear reactor crises in Fukushima.  The American people are really stepping up to the plate by pledging their support for the humanitarian efforts.  The easiest [...]

Retirees may start to “feel” the tax pain with the rest of us.  The Chicago Tribune reported that John Cullerton (D-Chicago), IL Senate President, suggested that retirement income be taxed at the new 5% rate.  Currently, retirement income such as pension funds, social security and 401(k) distributions are not taxed in Illinois.  If Cullerton succeeds retirees would experience an immediate 5% [...]

Today, March 9, 2011, marks the two-year anniversary of the stock market bottom following the credit crisis of 2008.  The official bottom of the recession (per NBER, an ad hoc group of economists that officially determines the peaks and troughs of recessions) occurred a mere three months later in June 2009.    Following the official end to [...]

I received a link to an article from Morningstar from my good attorney friend, Jeff Van Dyke.  Jeff and I have talked over the years about the title of the article, “The Difference Between Fee-Based and Fee-Only Advisors“.  I have found that even long-time clients of ours are confused, saying nothing of the public-at-large.  For [...]

Timothy Financial Counsel highlighted in the lead of an article, “The Fiduciary Standard…“ originally published in RIA Biz and posted to Forbes.com.  The topic centered around whether objective, non-commissioned financial planning is available to middle America.  We were cited as an example of an hourly firm that says, ‘Yes it is!’  and we are not alone.  There are [...]

A report by the SEC (Securities and Exchange Commission) indicated that the May 6th Flash Crash was caused by a large, automated trade by one company during a time when the market was already under stress.  Although the SEC report does not name the company, other media has  identified the company as Waddell & Reed Financial Inc. of [...]

Have you ever wondered what the difference is between an investment representative, financial advisor, financial planner, wealth manager, or investment broker?  Most people who use these titles claim to provide financial advice, but the similarities may stop there.  The first step is to ask if your advisor has a fiduciary duty to you.  Some advisors are only held to [...]

Congress has made moves to retroactively extend the IRA charitable rollover for 2010. The rollover would allow IRA owners age 70 1/2 and older to make tax-free charitable gifts of up to $100,000. The IRA charitable gift could satisfy your annual minimum required distribution. A great resource for more information on gifting to an educational [...]

In April, Congress passed and the President signed the Continuing Extension Act of 2010 which extends COBRA subsidy eligibility period for the third time for individuals who are involuntarily terminated on or before May 31, 2010.  The subsidy covers 65% of the cost of COBRA coverage. It also extends eligibility retroactively from the previous deadline of [...]

If you found out your doctor was really the employee of a pharmaceutical company, you’d be concerned.  Did you know that financial advisors have the option of following a fiduciary standard, which is similar to the Hippocratic Oath doctors follow?  However, some financial advisors work for product providers and have to meet sales goals.   Know [...]