About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!
Author Archive | Mari Adam
flood damage

Sandy’s Lesson: Don’t Go Without Flood Insurance

Many homeowners who suffered losses from Hurricane Sandy are finding out the hard way that flood damage is not covered by the typical homeowner’s policy. And unfortunately, most homeowners in Sandy’s path did not have separate flood insurance, as explained in a recent Wall Street Journal story. Estimates are that only 1% of homes in New York City had […]

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taxes scrabble

Smart Tax Moves Before Year-End

Our clients know that toward the end of each year, we review non-retirement portfolios looking for opportunities to harvest capital gains and losses.  This year, that task will have a heightened importance, as capital gains tax rates are likely to rise next year from their historic lows. At present, capital gains tax rates range from a low of […]

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congress

Quote Of The Week: “It’s All Up To Congress”

As we plan for 2013, it’s important to keep a sense of humor.  You’ll see why in this tongue-in-cheek quote from Fidelity Investments about planning for upcoming tax changes in 2013! “As you may be aware, the Bush-era tax cuts of 2001 and 2003 may expire at the end of 2012. Or they may be extended. […]

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women mnaging investments

Why Don’t Women Save As Much As Men?

Why don’t women save as much as men? A recent study conducted by two researchers at the University of Wisconsin tried to answer that question. They interviewed state government employees to discover why women working for the state of Wisconsin have lower amounts saved in their retirement plans than men. In fact, women have only 70¢ in their […]

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Student-loans

Think Twice Before Co-Signing Student Debt

Parents, think twice before co-signing student loans for your kids. Or at the minimum, read last week’s article in the Wall Street Journal about the financial havoc caused when kids stop paying on their loans, leaving creditors to come after already cash-strapped parents. Reports the Wall Street Journal: “After years of facing all sorts of […]

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IRA Roth 401k

Higher 401(k), IRA Contribution Limits in 2013

You can put more money in your IRA and 401(k) accounts next year and get bigger tax deductions. Before year-end, make sure to change your payroll deduction instructions for 2013 to take advantage of the higher limits. For 2013, the IRS just announced higher contribution limits for a range of retirement plans and gifts. Traditional IRA […]

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College costs

Best College 529 Plans

We have helped many of our clients set up college savings 529 plans for their children and grandchildren.  These plans are usually the “go-to” solutions for college savings, since they offer unbeatable tax advantages and almost total flexibility in school selection. So when investment consultant Morningstar just named their top choices among the nation’s 529 plans, we […]

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electricl engineering

Best College Majors For Your Career

In a recent blog, we highlighted the worst college majors for getting a job. Now, here’s the flip side of the coin, according to Kiplinger Personal Finance magazine’s annual survey of the best majors for entering into a lucrative career after college. Says Kiplinger, “Many Millennials grew up hearing that they should study what they love. While that’s […]

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continuing care community

Client Profiles: Thinking About A Continuing Care Community?

Last week, I visited one of our clients at her apartment in a continuing care community. She recently celebrated her 90th birthday and has been living independently in her own apartment for six years. But when we met last week, she told me she had made the decision to to give up some of her independence and move into the facilities’ assisted living […]

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financial decision making

Americans “Winging” Financial Decisions

Many middle-income Americans tend to “wing it” when making complex financial decisions, which has led to some expensive mistakes, says a recent study by the Consumer Federation of America and Primerica Inc. 67% of Americans surveyed said they have made at least one “really bad financial decision.” On average, that mistake cost them $23,000, although some people reported making […]

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