Friday, September 30, 2016

Life Insurance Awareness Month Comes to an End



As we have presented this September, life insurance can do some pretty amazing things for people. It can buy loved ones time to grieve. It can pay off debts and loans, providing surviving family members with the chance to move on with a clean slate. It can keep families in their homes and pre-fund a child’s college education. It can keep a family business in the family. It can provide a stream of income for a family to live on for a period of time. Life insurance can do all of these wonderful things for your family…there’s just one small catch. You need to own life insurance.

There’s a growing crisis of too many Americans not having adequate life insurance protection. According to the industry research group LIMRA, 30 percent of US households have no life insurance whatsoever. Today there are 11 million fewer American households covered by life insurance compared with six years ago. Here’s the bottom line: A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.

What if you were suddenly gone and your family had to manage on their own? When was the last time you did the math to make sure your loved ones would be OK financially? Have you checked with your employer to find out what kind of life insurance benefit you have through work and whether you have the option to increase your coverage? When was the last time you had your life insurance needs reviewed by an insurance professional? Northeast Financial Strategies is here to help!





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Thursday, September 29, 2016

Think Life Insurance


Do you want your family to have enough funds to survive without you? Contact our office today to make sure you have enough coverage.


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Wednesday, September 28, 2016

Financial Priorities: Are They Out of Sync?

Here are some interesting info tidbits on the perceived cost of insurance:


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Tuesday, September 27, 2016

3 Life Changing Events That May Change Your Insurance Needs

Your life insurance coverage should be reviewed on a regular basis to ensure you have adequate coverage, but a major life change is a particularly important time to assess your life insurance needs. Here are three life events when you should review your life insurance policy:

1) A change in family situation: Did you get married, divorced, have a baby, adopt children, or change jobs? Any of these life events are likely to change the amount of life insurance coverage you need.

2) An upward change in your income: A big promotion or a raise may be a good reason to review your coverage. Life insurance is often purchased to replace the income of the breadwinner in a family. If your income increases, you may need to review the face value (the amount paid to beneficiaries at the policyholder's death) of your life insurance policy.

3) Retirement: If retirement is just around the corner, it may be time to assess your life insurance policy. According to the Insurance Information Institute (III), life insurance can keep surviving spouses from receiving reduced Social Security benefits. For example, those who begin collecting 
Social Security survivors benefits at age 60, rather than at the full-benefit age of 66 or 67, receive a permanently reduced Social Security benefit. Having life insurance coverage in place may prevent your spouse from having to live on less.

Monday, September 26, 2016

Think Life Insurance


Life Insurance isn't as expensive as you think - contact us today to find out how much coverage is for you.
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Friday, September 23, 2016

Life Happens



No one knows what the future holds. Hopefully, only good things are in store for you.

But realistically, bad things will happen too.

Even if you don’t consider yourself a cautious person, you take little steps every day to improve the odds that good things will happen and guard against the possibility of bad things happening.

You wear seat belts.

You lock your doors when you leave home.

You try to eat well and exercise.

In other words, you may not be able to control the future, but you can stand up to it. You don’t have to get wet when it rains. You can carry an umbrella.

True, it’s easy to take these little steps. The bigger steps, though, can require contemplating some pretty unpleasant things.

Thursday, September 22, 2016

Key Tax Tips on the Tax Effects of Divorce or Separation

Income tax may be the last thing on your mind after a divorce or separation. However, these events can have a big impact on your taxes. Alimony and a name change are just a few items you may need to consider. Here are some key tax tips to keep in mind if you get divorced or separated.

  • Child Support.  If you pay child support, you can’t deduct it on your tax return. If you receive child support, the amount you receive is not taxable.
  • Alimony Paid.  If you make payments under a divorce or separate maintenance decree or written separation agreement you may be able to deduct them as alimony. This applies only if the payments qualify as alimony for federal tax purposes. If the decree or agreement does not require the payments, they do not qualify as alimony.
  • Alimony Received.  If you get alimony from your spouse or former spouse, it is taxable in the year you get it. Alimony is not subject to tax withholding so you may need to increase the tax you pay during the year to avoid a penalty. To do this, you can make estimated tax payments or increase the amount of tax withheld from your wages.
  • Spousal IRA.  If you get a final decree of divorce or separate maintenance by the end of your tax year, you can’t deduct contributions you make to your former spouse's traditional IRA. You may be able to deduct contributions you make to your own traditional IRA.
  • Name Changes.  If you change your name after your divorce, notify the Social Security Administration of the change. File Form SS-5, Application for a Social Security Card. You can get the form on SSA.gov or call 800-772-1213 to order it. The name on your tax return must match SSA records. A name mismatch can delay your refund. 

Health Care Law Considerations

Wednesday, September 21, 2016

Life Insurance: Why Do I Need It? What Does It Do?


So, why do you need life insurance?

What often comes to mind when thinking about life insurance is that you can use it to pay final expenses. You've seen the commercials: Funeral expenses, burial costs and medical bills can add up to a hefty amount. The last thing you want is for your loved ones to shoulder this extra burden. Life insurance can be used to plan for these final expenses. Permanent life insurance is available in various amounts, so you can pick a death benefit that meets your needs.

But there are other considerations to keep in mind. You can use life insurance …

As mortgage protection. Whether you live by yourself, with a spouse or significant other, you may want to buy life insurance as mortgage protection. Think about it: You don’t want the person you live with to be homeless if you die unexpectedly, do you? Term life insurance can be used to pay off an outstanding mortgage balance. Just select a term that matches the length of your mortgage payment period. Some companies even offer decreasing term insurance, which means the death benefit decreases along with your mortgage balance.

For income replacement. You and your significant other may have planned for a future based on two incomes, but what if one of you passes away unexpectedly? Life insurance can be used to replace the lost income so the survivor can maintain the same standard of living.

For college funding. Yeah, I know. You don’t have kids, so this one only applies if you do or if you have grandchildren you want to help. Have you seen the tuition rates lately? Life insurance can help fund a college education. If you die, the death benefit may be invested and potentially grow to the needed amount by the time your children or grandchildren reach college age. If you have permanent policies, the cash value may be used to help fund tuition costs. Feel better knowing that you helped prepare for their future—even if you are not there to see it.

Are You Ready to be a First Time Home Buyer?

Now, more than ever, is a great time to be a first time home buyer. Housing costs are low, interest rates are at a record low, and you don’t own a home that you have to worry about selling and most likely lose a profit. However, just because it is an ideal time to make that next step, you need to ensure that buying a home is the right choice for you and your current situation.

Buying a home can be fun, exciting, liberating, and a great investment, but it comes with great responsibility, is labor intensive, and a large financial commitment. Once a purchase is made, you are responsible for anything that goes wrong in the house. A new roof, plumbing, new appliances, cutting the lawn, and snow removal now lay in your hands, not a landlord’s.

A few steps to take to figure out if you are ready to be a first time home buyer include:

  • Check selling prices in the area you want to live. This will give you some good insight as to how much you will have to pay for the size house that you will need to accommodate you and your lifestyle. Zillow is a great site to see for how much homes in the area have recently sold.
  • See how much you can afford. A great tool to use is a mortgage calculator. This allows you to enter the price of the home, the interest rate, the loan term, as well as the property taxes. This will give you a good idea as to how much your monthly housing expenses will be and if it is something you can or cannot afford.
  • Get an idea as to how much you will pay in closing costs. This area gets confusing for most. You will see a lot of banks advertise: “No points, no closing costs.” If this is the case, you are paying a slightly higher rate, so that the loan officer gets paid more, so that he or she can use that extra money to pay your closing costs. If you don’t want to pay a chunk of money out of pocket, this may be a good option for you. Otherwise, you can choose to receive the lowest interest rate possible and pay the closing costs out of pocket. The fees that are included in closing costs are: Origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowner’s insurance or homeowner’s association fees.
  • Look at your budget. Fannie Mae recommends that buyers spend no more than 28% of their income on housing costs.
  • Pick up the phone. Make some calls to your local banks and see who is offering the lowest interest rate. Most will be in the same range, but a few points can make a big difference. Ask questions.
  • Make sure your credit is in good standing. One of the largest factors of getting a good interest rate is having good credit. The better the credit score, the lower the rate. The worse your credit score is the higher rate you will receive. In some cases if your credit is so bad, you won’t qualify for a loan at all.
  • Inquire about different loan programs. There are several programs out there now that help you to qualify for a home loan. A few include: Mass Housing, FHA, and Veteran’s loans. These are all great programs if you qualify and may more affordable than a conventional loan.

If you follow these basic guidelines then you should successfully be on your way to being a first time home buyer. Here at Northeast Financial Strategies, Inc., we have seamlessly guided thousands of home owners and business people through the buying and selling process. We work with a great local network of realtors, mortgage advisors, closing attorneys and home inspectors. Check out our Events Page to register for our next First Time Home Buyer Seminar happening tonight Wednesday 09/21/2016. If you have any questions regarding the purchase of your first home or would like us to guide you through, please feel free to contact us at: 800-560-4637.


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Tuesday, September 20, 2016

Think Life Insurance




Do you have enough coverage? Contact us today for your FREE analysis and find out!

Wednesday, September 7, 2016

Why People Buy Life Insurance

If you are asking yourself why you should buy life insurance, here are some reasons why some of our other clients have bought life insurance....

For the Death Benefit:

  • To replace earning power at death
  • To pay for cash needs that arise at death

As a Disciplined Savings Program*:

  • To help pay for educational costs
  • To supplement retirement income
  • To take advantage of business opportunities
  • For Financial Emergencies

Because of the Risk of Waiting:

  • To replace earning power at death
  • To pay for cash needs that arise at death

For the Tax Advantages:

  • Death proceeds are received free of income tax
  • Cash value accumulations are tax deferred
  • Cash value loans or withdrawals* are free of tax, as long as the policy stays in force
  • Accelerated death benefits are received free of income tax

Tuesday, September 6, 2016

Life Insurance - Why Now?

This is the award winning video created by Jeffrey Schweitzer of NFS-Northeast Financial Strategies for Life Insurance Awareness Month back in September 2011.







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Monday, September 5, 2016

Happy Labor Day From NFS



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Sunday, September 4, 2016

Wrentham Day 2016 Raffle Winners!!

Wrentham Day 2016 was a gorgeous day and Northeast Financial Strategies Inc was excited to take part!

In addition to meeting lots of new people and seeing our old friends, we gave out nearly 400 Wrentham T-Shirts, put temporary tattoos on kids of all ages and had a FREE Raffle for some great prizes from lots of local businesses! We thank them all for their support and generosity!! And we thank you for coming by to visit us!

Here is the listing of the raffle winners:

FREE Income Tax Preparation from NFS
Jodi Epstein of Wrentham

$25 Gift Certificate to Cafe Assisi
Tina Hagerty of Wrentham
Cathy Caillouette of Wrentham

$50 Gift Certificate to Commonwealth BBQ
Tracy McGowan of Wrentham

30 Minute Cranial Sacral or Reiki at Be Well Therapeutics
Suzanne Bodensiek of Wrentham

$50 Gift Certificate to Village Ski & Snowboard
Duane McKearney of Wrentham

Free Oil Change at Bill's Automotive
Steve Hearon of Wrentham
Mark Anderson of Wrentham
Eric Diamond of Wrentham

Framed Artwork from The Preservation Framer
Karen Mendzela of Wrentham



Free Music Lessons from The Music Box

Rebecca McDermott of Wrentham


$25 Gift Certificate to A Primitive Dwelling

Lucille Cook of Wrentham


$10 Gift Certificate to Northwoods Animal Treats & Gifts

Stephanie Leontie of Wrentham

Miaki Rietz of Wrentham


$10 Gift Certificate to Looking Glass Cafe
Jacob Greenleaf of Foxboro
John Reid of Canton
Kim Lawrence of Wrentham
Tom Hanson of Wrentham
Melissa Booth of Wrentham
Bill Abril of Wrentham
Mark Dubeau of Wrentham
William Jones of Wrentham
Maureen Osolnik of Wrentham
Shilo Chaves of Wrentham

If you see your name on this list, please come into the office and claim your prize. You should also receive a message from us.
















Saturday, September 3, 2016

Come Visit NFS at Wrentham Day Today!

Wrentham Day - 34th Annual Community Event
Wrentham Town Common
Saturday, September 3rd, 2016
9:00 am to 3:00 pm


Join NFS as we take part in Wrentham Day - the town's community day on the common! Raffle Prizes we have are on the picture below and include - FREE Income Tax Preparation, FREE Gift Certificates to local businesses such as restaurants, dance studios, sporting good shops, wellness services & auto service stations. We always have FREE Wrentham T-Shirts (while they last) and activities for the kids! Here are some pictures from past years...








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Friday, September 2, 2016

Think Life Insurance


We can help you get the coverage you need - contact us today to get started.

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Thursday, September 1, 2016

Why Now Is The Best Time to Buy Life Insurance



The sluggish economy continues to put financial strain on many of us. So it just makes sense to examine our budgets and look for ways to trim the fat from our monthly expenses and put more into savings, if possible.

That’s a great way to help stabilize your finances, but it’s also important that you have a financial safety net in place in case something were to happen to you. Life insurance is one of the few guarantees your family could rely on to maintain their quality of life if you were no longer there to provide for them.

There are 95 million adult Americans without life insurance, according to LIMRA, an insurance industry research group. The fact is, the vast majority of Americans need life insurance and, sadly, most people either have none or not enough. If someone depends on you financially, you need life insurance. It’s that simple.

September is Life Insurance Awareness Month, making it the perfect time to take stock of your life insurance needs. And there are three additional reasons why now is the best time to look into getting life insurance.