New England Capital Financial Advisors, LLC

New England Capital recently celebrated their 30^th Anniversary with clients at Holiday Hill in Prospect!  The founder of the firm, Christopher W. Beale, CFP®, started the firm in July 1998.  This was a great celebration that was well attended with great food, music, and friends. 

Another day. Another tweet. Another tariff. Another volatile stock market day.

I was planning to write my quarterly blog about issues facing baby boomers as we age, but the topic of tariffs have taken center stage. Then I had an epiphany. These two topics are closely related and need to be combined. Why not place a tariff on all imported old people!

I know what you’re thinking.  Chris, you’re brilliant. The money raised from the tariffs on old people coming into the United States will be used to reduce the strain on the Social Security and Medicare systems caused by the increasing population of people over age 65. And yes, as a bonus my solution also finally addresses two other thorny problems for President Trump—immigration and jobs.

For most clients, one of their largest assets is their house or residence.  With that being said, it is good to review your homeowner’s policy from time to time.  For most of you that have been with us, you have seen our “Success Triangle” and one of the items at the foundation of that Triangle is insurance.  This is because if the proper insurance is not in place, it jeopardizes the rest of your financial health.  In this article, we will discuss how much coverage you should have, what most polices cover and what they don’t.

What is a homeowner’s policy?

Homeowner’s insurance protects your home, its contents, and, indirectly, your other assets in the event of fires, theft, accidents or other disasters.  A standard homeowner’s policy (known as an HO-3 policy) will protect you from things like fires and fallen trees.  Floods or earthquakes are specifically not covered by a standard policy and require additional coverage.

• Happy Silver Anniversary! – Chris Lee recently celebrated his 25th Anniversary working at New England Capital.

As college students end their winter break and head back for spring semester, I thought it would be a good time to review some college planning basics.

I tell clients there’s no “magic bullet” for accomplishing the college savings goal. Paying for college for your children usually incorporates several strategies including:

• Saving money in a college fund
• Scholarships and Grants
• Loans by parents and/or students
• Re-directing current income from parents or students during the college years.

In most cases, the best vehicle to save for college is 529 savings accounts. 529 refers to the section of the Internal Revenue Service code which allows for tax preferential treatment of college savings accounts. 529 plans are typically owned by the parent with the child as beneficiary.