Blog Posts

  • state-of-the-union-2014

    Introducing the myRA

    February 5, 2014
    For decades, Washington, D.C., has been providing tax incentives for Americans to save and invest for retirement. There are many different types of programs , but they each have in common some combination of tax savings now or in the future, and limitations on ...
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  • college-student

    Paying for College: Don’t Worry, Be Happy

    January 29, 2014
    Two dads were talking over coffee when one asked the other what his son was taking in college. Without hesitation he replied, “Everything I have.” Across town, a banker was being arrested for embezzling $100,000. The FBI agent asked him why he did it. The banker replied that he was ...
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  • corporate executive

    The Pros and Cons of Deferred Compensation Plans

    January 20, 2014
    What opportunities does an employee have when they’ve maxed out their 401(k), their income exceeds their spending needs, and taxes are claiming a large share of income? Corporations may provide another option for meeting financial goals, allowing you to defer the income and taxes through a non-qualified deferred compensation plan ...
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  • savings

    Saving for Retirement: 401(k)s, IRAs and HSAs in 2014

    January 9, 2014
    The end of the year often brings a flurry of activity as people scramble to do everything they forgot to get done during the first 11 months of the year. Many people forget to review how much they can put away each year starting in January, but by December it ...
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  • target

    What We Can Learn From Target

    January 8, 2014
    For spring break last year I chartered a fishing boat in Florida since the kids had never done that before. When we got back to the dock and it was time to pay the captain, he whipped out his cell phone and swiped my credit card. At that moment, I ...
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  • snowstorm

    Tapering and Snow Storms

    December 16, 2013
    When you live in Minnesota, there are some months when you know that snowfall will cause commuting inconveniences. If you knew the timing of the snow fall three weeks in advance, it might be possible to schedule your day so that you worked from home. The much debated ‘Fed taper’ presents ...
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  • Thanksgiving

    A Merger, a Surgery and a Family Gathering

    December 11, 2013
    On Monday, November 25, we announced that TruNorth and BGM Wealth Management would merge into BGM TruNorth Wealth Partners LLC effective December 2, 2013. The next day, I had successful back surgery to fix a ruptured disk. Two days later, my wife and I hosted a Thanksgiving gathering of 11 ...
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