Bruce Starks, CPA, CFP® – Online CFP Program

Don’t Miss These CFP Board Developments

CFP® Certificants in the News Just in case you missed these announcements, be aware that the CFP Board recently announced two significant developments. The Clock is Ticking: Comment Period Ending — Proposed Revisions to Competency Standards On December 17, 2024, the CFP Board’s Board of Directors sought public comment on proposed changes to the Competency…

Revocable versus Grantor Trusts

Course: Estate PlanningLesson 9: Income Taxation of Trusts and Estates Student Question: Can you refer me to a comparison (or just write a few notes) on how a grantor trust differs from a revocable trust and how a non-grantor trust differs from an irrevocable trust? They seem synonymous respectively to each other. Thank you! Instructor…

Wake Up Call for Retirement Savings

Good to Know Let’s frame the challenge faced by far too many Americans. Confidence in a comfortable retirement remains soberingly low. Consider this: Less than half of Americans feel confident about their retirement savings, Nearly one-third of Americans plan to depend solely on Social Security for retirement income, and The average annual Social Security benefit…

Understanding the Relationship Between Coupon Rates and Duration

Course: Investment PlanningLesson 9: Fixed Income Securities Student Question: There is a question regarding duration that I continue to struggle with. Which of the following are true:1-Lower coupon bonds are more sensitive to interest rates than high coupon bonds.2-There is inverse relationship between bond prices and change in interest rates.3-There is a positive relationship between coupon rates and duration.…

Top 5 Reasons to Become a CFP® Professional

CFP® Certificants in the News The new year is upon us and while January resolutions are common, the author encourages you to take a deep strategic look at your financial career, especially if you’ve yet to gain CFP® certification. This designation is one of the most recognized and respected credentials in the financial planning space;…

Completed Gift with JTWROS

Course: Estate PlanningLesson 1: Property Ownership Student Question: In the example here of a completed gift, doesn’t Harry still have rights to the condo if it is a JTWROS? How is that considered a completed gift? Example Harry buys a condominium for $200,000. He wants his brother, Hank, to get the property when he dies,…

Choosing the Best Medicare Advantage Plan

Good to Know Medicare Advantage, or Medicare Part C, is an increasingly popular alternative to Original Medicare, offering highly sought-after additional benefits and coverages. With a wide variety of plans available, selecting the right one can feel overwhelming. However, by considering key factors such as coverage needs, costs, and network restrictions, you can confidently choose…

Unused Premium

Course: Insurance PlanningLesson 8: Gift and Estate Valuation Student Question: Could you please clarify for me what the unused premium would be in term life insurance? I don’t quite understand how you could not use the premium. Thanks. Instructor Response: Certainly. A lot of different terms in insurance, to be sure. Assume you pay $6,000…

Financial Planning Jobs for Career Changers

CFP® Certificants in the News The author is frequently asked how a newly-minted CFP® Certificant finds their first financial planning job. One resource not to be overlooked is the CFP Board’s Guide to Careers in Financial Planning which “provides students, recent graduates and career changers with information on starting and sustaining successful financial planning careers. Developed by the…

Real Estate Income and IRA Contributions

Course: Retirement PlanningLesson 1: Using IRAs to Build and Distribute More Retirement Income Student Question: This page states that rental income is not included in the definition of earned income. If the client is a professional real estate developer whose income is derived mainly from rental income, would they be able to contribute to an…