Blog
Financial Planning Tools
This blog is to update you on the use of 2 financial tools that we use for our clients. The first is Asset Map which we have been using for about 2 -3 years. There have been some updates to the Asset Map and we will revisit all...
Read MoreFirst Roth IRA
Now that Summer is here, are your kids working? Don’t forget about the opportunity to open or contribute to a Roth IRA for them. Roth IRAs are a great tool to help young people get started on their path to financial independence....
Read MoreWhat is Long Term Care?
When people consider the subject of long-term care, they often think about nursing homes. In fact, long-term care has little to do with nursing homes. Understanding the difference can help you protect your family and finances.Long-term...
Read MoreFinancial Planning 101 – Getting Back to Basics
Now might be a good time to reset your finances. Below are a few key points to consider during your reset. Take another look at your cash flow and review your income versus expenses. One area we have noticed is the increase...
Read MoreBeneficiary Update
Do you have a named beneficiary or Transfer on Death designation for all of your assets? We routinely find during our discovery working with new clients, many have unnamed beneficiaries or old beneficiaries on their assets...
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Your First Roth IRA
I know that you have noticed more businesses are hiring now. As we come out of the pandemic and hopefully get back to more normal lives, I wanted to highlight an option for new employees. This is especially true for people starting...
Read MorePros and Cons of Debit Card vs. Credit Card
To know whether you should use a credit card versus a debit card, you need to consider your spending habits and understand the difference between a credit and debit card. The Pros and Cons of each are...
Read MoreWhere is My Money Going?
As you are already aware, things cost more. This may be a good time to revisit all household spending and savings again. A smart idea is to get a better understanding of current cash flow. Following spending and saving for a couple of...
Read MorePlanning Tools used in Pegasus Office
I wanted to highlight a few tools that we use in our office for client analysis.The first is ASSET MAP. It is a one-page tool that can simplify all your assets and liabilities into a single page snapshot. It also provides a...
Read More2021 Tax Preparation
As end of year approaches, I wanted to just provide a reminder of some key points on organizing your information to help prepare for the 2021 tax filing. If you have any questions, please don't hesitate to contact us! Most tax forms...
Read MoreHealth Savings Account 101 part 2 (using your HSA as a retirement tool)
Wondering what a Health Savings Account (HSA) is? Please see my previous blog post from last week. In this post we’ll focus on how best to utilize an HSA. To get the most out of an HSA, it’s important to plan and invest the...
Read MoreHealth Savings Account 101
With healthcare expenses on the rise, I regularly meet with people who have questions about health savings accounts (HSA). Health savings accounts have gained significant traction the past couple of years, yet I still rarely see people...
Read MoreThe American Rescue Plan Makes FSAs a Little More Flexible
For those with a Dependent Care Flexible Spending Account (FSA), there may be some good news on the horizon. The American Rescue Plan Act, signed into law by President Joe Biden, boosts the amount that companies can allow workers to...
Read MoreThe Underutilized Benefits of a Health Savings Account
Healthcare can be one of the priciest yet essential parts of life’s journey. And yet, many struggle to utilize the financial tools that may help. Take Health Saving Accounts (HSAs), for example.In 2019, 55% of those with HSAs...
Read MoreLesser Known Provisions of the SECURE ACT
The SECURE Act was passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA...
Read MoreCOVID and the Economy
As the United States sees a rise in cases of COVID-19 across the nation, news of two promising vaccines out of hundreds being tested has offered a ray of hope for a fatigued world.1 A positive reaction to these vaccines affects every...
Read MoreCARES Act - Key Takeaways
Coronavirus Aid, Relief, and Economic Security Act (CARES Act) – Key Takeaways Last week President Trump signed into law the CARES Act in response to the ongoing COVID – 19 pandemic. The CARES Act is a $2 Trillion emergency...
Read MoreSecure Act impact
Sweeping new legislation related to tax and retirement reforms was passed into law by the President in December 2019. The SECURE Act includes numerous reforms to tax and retirement plan rules in what appears to be an attempt to address...
Read MoreKey Financial Advice for Your Children
We’ve all heard the saying money doesn’t grow on trees. Our parents said it to us, and most likely we have said it to our children (or probably will say it to our children in the future). As a new parent I often spend time...
Read MoreMoney Mistakes to Avoid
No emergency fund: A fully funded emergency fund works much like the foundation of a house. It’s the base upon which you build. If your foundation isn’t solid, you’re bound to run into trouble. Generally, you should...
Read MoreHSA Part 2 – Utilizing as a Retirement Planning Tool
Wondering what a Health Savings Account (HSA) is? Please see my previous blog post from early June. In this post we’ll focus on how best to utilize an HSA. To get the most out of an HSA, it’s important to plan and invest...
Read MoreHealth Savings Account 101
With healthcare expenses on the rise, I regularly meet with people who have questions about health savings accounts (HSA). Health savings accounts have gained significant traction the past couple of years, yet I still rarely see people...
Read MoreCash Flow Management
What do you think of when you hear the word budget? If you’re like most people, it’s not a positive word. You might think of handcuffs, restrictions, or failure. It doesn’t have to be this way. To start, let’s...
Read MoreHoliday Spending
The holiday season tends to be one of, if not the most, expensive time of year for most. The holiday spirit is alive and it’s wonderful to be able to provide gifts to others, donations to charities, and gather with friends and...
Read MoreIs it Time to Consider Roth Conversions?
Is it time to consider if you are adequately utilizing different types of retirement savings account for your future? A Traditional IRA is comprised of pre – tax money, therefore, when you take money out in retirement (age 59.5...
Read MoreWealth Is Not What You See
I recently read a quote, “wealth is not what you see” that really got me thinking. Living in Northern Virginia, we’re used to seeing plenty of new luxury vehicles on the roads, large new homes, and many other excesses...
Read MoreRising Interest Rates
While it may not be a focal point in the day to day lives of most Americans, rising interest rates have a significant effect on all consumers. Taking a step back, you may be asking yourself why does the Federal Reserve adjusts interest...
Read MoreTax Withholdings for 2018
We have received many questions in the past few months about income tax (payroll) withholdings and the new tax laws taking effect in 2018. The IRS has developed a Withholding Calculator which is available at www.IRS.gov but after...
Read MoreSaving for Your Child's Education - part 2, High School
As your child enters high school it’s important to review the investment allocation of your 529 account(s) if you have not done so already. We recommend reviewing your account allocation annually, however, it’s especially...
Read MoreSaving for your Child's Education - part 1, newborn through middle school
In this two-part series dedicated to college/post-secondary education planning we will look at what you should be considering at different stages in your child’s life. We’ll start by focusing on college/post-secondary...
Read MoreChange of Beneficiaries
At this time of year, when you are thinking about taxes and money issues, it is also a natural time to review your choices of beneficiaries. A beneficiary is the person, organization, charity, etc. that you designate to receive your...
Read MoreGifts and Retirement Savings - limits and phase-outs
2018 brings several changes to gifting, estate tax and retirement savings limits. Individual Gifts The gift tax exclusion increases in 2018 to $15,000 from one donor to one recipient up from $14,000 for each of the past five years. For...
Read More2018 Tax Changes That Effect You Now
The recent tax law changes in the Tax Cut & Jobs Act (TCJA) will affect most Americans - some positively and some negatively. My view is that most suburban home owners with children will not be happy when 2018 taxes are prepared in the...
Read MoreCybersecurity - Phishing Scams
Cybersecurity – Phishing Scams The world of cybersecurity is daunting. We, at Pegasus Financial Group, urge people to be on the lookout for new, sophisticated email phishing scams that could endanger their personal information...
Read MoreYear End Capital Gains
As the end of the year approaches, now is a good time to start thinking about capital gains. This year, many segments of the market experienced very nice gains. If capital gains are distributed outside of qualified accounts,...
Read MoreRequired Minimum Distributions - What, When, Why
There are several ages that represent special milestones in your financial life. Age 70 ½ is one of those major milestones if you own an IRA, SEP IRA, SIMPLE IRA, or qualified retirement plan account. As we head into the end of...
Read MoreAffordable Care Act Requirements
Affordable Care Act – Health Insurance Requirements for 2018 At this writing, the Affordable Care Act (ACA or Obama Care) will be in effect for 2018. You must enroll every year if you do not have health insurance coverage...
Read MoreMedicare Open Enrollment is Upon Us!
Medicare open enrollment season is now upon us. Open enrollment season runs from October 15 until December 7. So, what does this mean for you and what changes can you make? During this period, you can reevaluate your coverage and make...
Read MoreIntroduction to Medicare
Just about everyone has heard of Medicare (although sometimes people confuse Medicare with Medicaid!). This is a first in a series of blogs that will explore the issues surrounding Medicare. The official website for Medicare...
Read MoreVirginia 529 Plans - Questions to Consider
In my last blog post I provided a summary of the three 529 plans available in Virginia. The Prepaid plan allows you to prepay college tuition at current rates established by the state. Invest and CollegeAmerica allow you to save into...
Read MoreSaving for College - 529 Options
With college expenses on the rise the mere thought of helping your children or loved ones pay for their education may be daunting. According to a recent study by CollegeBoard, average in-state tuition, fees, and room / board charges...
Read MoreHow Much is Enough??
How much is enough… A major retirement savings question… If you look back at our last blog titled Where Will Your Retirement Money Come From, we covered the various sources of retirement income. Now it’s time to...
Read MoreWhere Will Your Retirement Money Come From?
For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become...
Read MoreAging Life Care Planning - Home Options
Aging Life Care Planning – Home Options One of the key decisions you need to make is - “What will my home (residence) look like as I age?”. Understanding that health conditions may play a roll, you still need to...
Read MoreCaring for Aging Parents
Thanks to healthier lifestyles and advances in modern medicine, there are more Americans over the age of 65 than there have ever been. The U.S. Census Bureau estimates that by 2050, more than 20 percent of U.S. residents will be aged...
Read MoreThe Power of Compound Interest and Saving Now
The power of compound interest is immense, although it doesn’t necessarily feel like you are making great progress in the early years of investing. While compounding is an incredible force, it does take time work its magic. This...
Read MorePay Yourself First
Each month you settle down to pay bills. You pay your mortgage lender. You pay the electric company. You pay the trash collector. But do you pay yourself? One of the most basic tenets of sound investing involves the simple habit of...
Read MoreThe Great Debate Continues: Active vs. Passive
Whether it’s sports, music or politics, life holds any number of “great debates” that never seem to reach a conclusion. In investments, that great debate asks the question, “Active or Passive Investing: Which Is...
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