News & Updates – Page 24 – Online CFP Program

Specialized Long-Term Care Insurance for Middle-Income Americans

Good to Know Long-term care costs can consume hundreds of thousands of dollars regardless of an individual’s wealth but the risk is often managed differently by wealth demographic. The uber-wealthy may self-insure, the desperately poor may rely on Medicaid, and middle-income Americans may buy LTC insurance. This blog will illustrate a powerful long-term care insurance…

Total CFP® Professionals Approaches 90,000

CFP® Board Updates Updated demographics from the CFP Board reveals there are now nearly 90,000 CFP® Professionals. With the CFP Board exam in July, we will no doubt cross over that mark and head towards 100,000. An impressive number when you consider there were just over 60,000 just a few years ago. These numbers are…

What You Don’t Know About Social Security Can Hurt You

Good to Know Social Security benefits are key to most Americans’ quality of financial life during retirement. Yet, an alarming number of those approaching retirement do not have a basic understanding of Social Security benefits. Twelve basic questions were posed to 1,5001 pre-retirees to gauge their Social Security knowledge. Take the quick quiz below to…

ALERT for CFP® Candidates – Add Points to Your Score

CFP® Certificants in the News Those planning to take the CFP® Exam must be aware of how recent changes to the exam structure could affect your score. We will identify the exam change and the takeaway that could add points to your score. The Exam Change The CFP® Exam was traditionally structured as a 170-question,…

5 Habits of Successful CFP Exam Takers

CFP® Certificants in the News This blog is dedicated to CFP® Candidates, especially those planning to take the CFP Board Exam soon. What better place to begin planning than planning to pass the CFP Board Exam? By the way, hope is not a plan. Hope is a wonderful quality but we need a specific, sequential…

Last Minute Tax Deductions for 2020

Good to Know Taxpayers may reduce their 2020 taxable income by tens of thousands of dollars by contributing to tax-deductible IRAs, 401(k)s, and other accounts by May 17, 2021. Traditional Deductible IRA Contributions Taxpayers who are unaware of this opportunity or miss the usual April 15, 2021, deadline may contribute to an IRA for 2020…

CFP Board Launches Spring Awareness Campaign

CFP® BOARD UPDATES The CFP Board has launched its Spring 2021 Public Awareness Campaign. The focus of the campaign is to raise awareness of the value of the CFP® Certification and the peace of mind that comes from having a CFP® Professional help prepare a financial plan. The Board has been running awareness campaigns since…

Reprieve from the Warden: Individual Federal Income Tax Return Due Date Extended

Good to Know In mid-March, the IRS announced an extension of time to file individual 2020 income tax returns. The following excerpts were taken directly from IRS press release IR-2021-59, March 17, 2021: “WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals [including…

CFP Board Relaunches “LetsMakeAPlan”

CFP® Certificants in the News CFP Board press release, December 16, 2020 Relying on extensive consumer research and user testing, Certified Financial Planner Board of Standards, Inc. (CFP Board) recently launched its redesigned and updated consumer-facing website, LetsMakeAPlan.org (LMAP). The refreshed website includes updated content and a modernized interface with a mobile-friendly design to improve user experience,…

IRS Riddle: How Do You Save $435 or More in Tax Penalty With 55 Cents?

Good to Know Alert-As of the date this blog was written (March 16, 2021) pressure was building to extend 2020 tax return due dates in recognition of COVID challenges. However, taxpayers should assume the due date for personal and business income tax returns remains unchanged unless an official IRS pronouncement indicates otherwise. The IRS recognizes…