With the current economy a lot of parents are seeing their adult children moving back home. In this video I point out some things you need to keep in mind to protect your financial security.
Watch my interview on ABC 33/40 about this subject here.
Greg Powell, CIMA
President/CEO
Wealth Consultant
On November 12, 2012 fi-Plan Partners was the corporate sponsor of the Samford Business Network Breakfast at the Wynfrey Hotel in Hoover, AL. Business leaders from across the city came to network and hear special guest Jason Womack, author of Your Best Just Got Better.
Greg Powell is President and CEO of fi-Plan Partners, an independent investment firm serving it’s clients through financial planning, wealth management and business consulting.
08/16/12: Many people are looking to make career changes and transitions even later in life. This is not always an easy decision to make Here are 3 reasons how a sound financial plan will help you make this major transition in your life.
Greg Powell is President/CEO and Wealth Consultant for fi-Plan Partners,, an independent investment firm specializing in financial planning, wealth management and business consulting. Contact Greg with your questions at (205) 989-3498 or email him here.
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07/18/12: Real estate can be a good or a bad investment. But what if you have unwanted real estate and you just can’t seem to sell for a good price? Greg Powell shares his strategy that he uses with his clients. Contact Greg if you would like to discuss with him whether this would be a good strategy for you. You can here or call (205) 989-3498.
Greg Powell is President/CEO of fi-Plan Partners, an independent investment firm specializing in financial planning, wealth management and business consulting in Birmingham, AL.
Note: Due to regulations, comments have been turned off.
05/10/12: The big “if” is anything that could potentially throw you off track to achieve retirement. This “if” could come in many forms. At fi-Plan Partners we help take the anxiety out of the “if’s” for our clients. Greg Powell, President/CEO and Wealth Consultant, explains how this is done.
If you have questions or concerns about your retirement, call or email Greg here.
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04/27/12: Although it’s an unfortunate situation, I often deal with clients who have a loved one that has been diagnosed with some form of Dementia or Alzheimer’s. Anyone facing this type of situation wants to be focused on their loved one rather than dealing with stressful financial decisions.
If you are dealing with this type of scenario, the first thing you should do is surround yourself with a team of professionals who are experienced in dealing with Alzheimer’s and Dementia. This would consist of a financial advisor, legal counsel, health care specialist, and mental health professional.
Frequently Asked Questions:
Here are three of the most common questions I receive when I am giving financial advice to a client.
Q: Should I start making financial plans now or should I wait?
A: You want to start making financial plans immediately after diagnosis while the loved one can still participate in the planning process. Once the loved one can no longer participate in the decision making process, the hard decisions become harder and stress levels can rise.
Q: How can I manage the costs associated with Alzheimer’s and Dementia?
A: There are various governmental programs such as Medicaid, V.A. Benefits, tax deductions, and tax credits that can be used to offset a significant portion of what could be staggering medical costs. There are also insurance options such as long-term care or accelerated death benefits for life insurance that will advance death benefits in case of a terminal diagnosis.
Q: How can I protect my loved one’s assets for future generations?
A: There are many financial considerations when addressing your loved one’s assets for future generations. Based on your loved one’s individual needs, your team of professionals should develop a strategy to avoid the complicated financial pitfalls that may occur, such as the “5 Year Look Back Rule”. While I do not give legal counsel, our firm has the ability to create a team of these professionals with our trusted business partners to meet your needs and the needs of your family. We can also incorporate and work with any professional with which you already have a relationship.
If you have this need, let us assist you with building a team of knowledgeable professionals who collectively can develop a sound financial strategy for you. This way, you can focus on being the caregiver for your loved one, knowing you have a financial strategy in place.
I would like to talk with you should you have any questions or concerns. You can call me at (205) 989-3498 or email me by clicking here.
Quint Cook
Executive Vice President
Wealth Consultant
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04/25/12: Often adult children, even after they’ve been on their own for some time, can be financially draining on their parents. This is more common than you think and it needs to be addressed as you make your financial plans. There is a conversation that needs to take place within a family with adult children. Greg Powell, President/CEO and Wealth Consultant at fi-Plan Partners talks about this family scenario and what to do about it.
Have a question? Call Greg at (205) 989-3498 or email him here.
03/21/12: When people do their own investing, many times they can get over their head and lose large portions of money. This can cause stress on a marriage and other relationships. With over 30 years experience in the financial industry, Greg Powell, CIMA, President/CEO and Wealth Consultant at fi-Plan Partners, talks in this video about how couples can overcome and avoid this situation and feel confident that they are on the right track to be where they want to be.
Email Greg here or call him if you have any questions or concerns about your investments.
Note: Because of regulations, comments have been turned off.
02/01/12: Are you concerned about losing your job or something happening to the company you work for? Greg Powell, President/CEO and Wealth Consultant at fi-Plan Partners talks about what you need to do to be financially ready before such an event occurs.
If you have any questions or would like to talk with Greg, call (205) 989-3498 or email him here.
1/20/12 It’s tax time again, and that means you may be considering contributing to an individual retirement account. I have attached a document with useful information for IRA and other plan contribution limits for both 2011 and 2012. I have included in the document the deadlines for opening an account, as well as making your contribution. To view or download this document click here.
It is important to know that fi-Plan Partners does not give tax advice. Please remember that not all contributions are tax deductible. You should consult a tax professional before making your final decision regarding contributions.
Regardless of the type of retirement plan you choose, contributing regularly is the key to building a strong retirement savings. Don’t put off saving for retirement because you are still in your 20’s or 30’s either, early contributions pay off! If you have additional questions or would like to inquire about opening an IRA, please email me here or call me at (205) 989-3498. We look forward to helping you build your retirement assets.
Amy Marquis
Chief Operations Officer