PLANNED SOLUTIONS CASH MANAGMENT US GOVERNMENT DEFICIT INCREASES SS2019
On this episode of the Planned Solutions Financial Review Podcast we discuss, Cash Management- In the past cash management was a big part of financial planning. The goal was to allocate cash holdings, whether it be money set aside for future expenses, an emergency fund, money to which a goal has not yet been assigned, to an account that would pay an attractive yield without incurring high transaction fees, lockup periods that are incompatible with the goals and objectives, or an unacceptable fluctuation in value. The US Government Deficit- The US Treasury Department announced that the federal government deficit increased to $779 billion for the fiscal year ending September 30, 2018. The overall budget deficit was $113 billion greater, a 17% increase, from the previous year, making it the largest budget deficit since 2012. Plus, Social Security Changes for 2019- The Social Security Administration recently announced the 2019 Cost-of-Living Adjustment(COLA). Starting January 2019 Social Security beneficiaries will receive a 2.8% increase in benefits, which is 0.8% higher than the 2018 increase of 2.0%. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Tax planning is key, At Planned Solutions we also have tax planning season which runs from mid-October through the end of the year. Also,The processing of Required Minimum Distributions (RMDs) is in full swing, what do you need to know? If you have yet to subscribe to the Personal Financial Review, email Katie@plannedsolutions.com