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Frontier Financial Planning

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Frontier Financial Planning

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08/15/2022

Things to do to become a successful investor

For first time investors, it can be daunting to take the plunge. Even more so if you're not receiving the guidance of a professional. There are some simple ideas you can keep in mind when you are investing to get your returns without clenching your jaw with every turn of the market.

-Diversification and allocation-
Diversification of your investments is crucial to weathering market fluctuations. You can achieve diversity by buying a variety of funds including broad-based index funds that mirror the performance of the S&P 500 as well as other funds that come with various levels of risks. An example of a diversified portfolio could include shares of small companies with potential to grow, overseas companies, bonds, or real estate investment trusts.

Proper asset allocation - such as between stocks, bonds and cash- is another critical part of being a successful investor.

- Avoid active investing-
Timing the market and chasing quick returns can look and feel a lot like playing the slot machines in Las Vegas if you are not a professional fund manager. You will want to pay attention to the market and understand your own investments but waking up each morning and checking the stock markets will lead to unnecessary headaches.

You can work with a financial advisor to help you set your goals, make your investments so that you can sit back and wait for your returns to grow with time. Visit our website today to learn more about our services!

08/11/2022

Fund your vacation dreams the smart way

As travel gets back to normal, you may be thinking about your next dream vacation. And since it has probably been a while since you were last able to travel as freely as you wanted, you want to make the next trip as memorable and fantastic as possible.

Travel is not cheap, especially with the rising prices on everything. Here are a few tips to help you save up for your next dream summer vacation:

1. Set aside money in a high-yield savings account made specifically for your travel fund.

You can create a high-yield savings account - which pays 20 to 25 times the national average of a standard savings account- and set up automatic deposits into it.

2. Remember to make a specific target number to reach

This may sound obvious, but first crunch the numbers of what you will need to save up for. Include all possible costs- such as tickets, hotel fees, travel insurance, food, shopping money, etc. This way, you will have a tangible goal to work towards and will be more likely of sticking to your efforts to get there.

3. Don't stop saving until you've reached your target number!

If you have a dream vacation in mind, don't siphon off some of the money in your travel savings account for anything else until you've reached your goal. It may be tempting to dip into the money and use it for other things along the way, but if you get into the habit of doing that you will keep pushing back your trip until it really is just a dream.

Schedule a call with me if you are ready to take control of your finances!

08/09/2022

Don’t tell me where your priorities are. Show me where you spend your money, and I’ll tell you what they are.
– James W. Frick

Where you put your money, whether you conscious about it or not, shows what is most important to you. Yet over time we get into a routine, and we often don't notice what we are spending on or if it is important to us. Often, after reviewing their financial habits, my clients will find that there are things they want to spend a little less on in order to make room for things that match their priorities and values.

Are you certain that you are spending your money in alignment with your priorities- short and long term? Working with a financial advisor can help you figure out exactly how Visit our website and schedule your introductory free meeting!
https://www.frontierfp.biz

08/04/2022

If you are even thinking about creating a financial plan, you are ahead of the game. Most public employees don't think that they need a financial plan- and in general most people have the misconception that financial planning is a "rich" people thing.

It's a mistake to neglect your financial future - and financial planning is far from a service that only benefits the ultra-wealthy. Do you have a complete picture of what you need to get to a state of optimal financial freedom and security? These are the parts of a financial plan that will help you get there.

08/02/2022

Are you taking advantage of your employer based disability insurance?

Did you know that while 71% of employers offer long-term disability insurance and 61% offer short-term disability insurance, most employees don't take advantage of the offer? This is a mistake- in the unforeseen case that you would not be able to work due to a disability, the insurance would pay a portion of your income if you were unable to work.

Employer based disability insurance is typically much less expensive than if you were to get individual coverage. And, of course, if you ever are unable to come to work because of disability or illness, then you will be glad to have enrolled.

Start looking at what options your employer provides, because the statistics show that it is likely that they do offer something.

Visit our website and schedule your introductory free meeting!
https://www.frontierfp.biz

07/28/2022

Are you ignoring free money?

Most people don't know about all of the financial opportunities that are available to them and end up missing out on "free" money. For example, if you work in the private sector, 401(k) contributions must be matched by employers. The most common match that employers make for 401(k) contributions is 50 cents on the dollar up to 6% of an employee's pay. In other words, for every $1 you contribute to your company 401(k), the company contributes 50 cents.

And if you are a public employee, the Alaska PERS and TRS Defined Contribution Retirement plan requires employer contribution to be at 5% - and while in this plan employee contribution is not optional, it is above the national average of 4.3%. Furthermore, new enrollees to the University of Alaska Optional Retirement Plan have a mandatory contribution of 8% of your annual salary per year. This plan offers an impressive 12% employer match, significantly higher than most employee matching programs anywhere in the country.

Visit our website and schedule your introductory free meeting!
https://www.frontierfp.biz

07/26/2022

Wise spending habits for State of Alaska employees

Having a reliable and steady income can afford you the ability to spend more or less freely during your working years. If you want to take a vacation, put your kids through university, or fly out and attend conferences once or twice a year, you won't have a huge problem. When you're retired, you won't have the same income stream as before and therefore saving for the future - be it for your retirement, for your estate, a second home, etc.- requires practicing wise spending and saving habits beforehand.

When it comes to saving, you have to first establish a purpose. From there you can estimate a goal number for you to calculate how much you need to set aside per week, month, or year for you to reach in order to save up.

You may or may not often think too much about your spending habits when you have a reliable income in a tenured position, but if you reviewed your overall spending habits you may find that you are spending unnecessarily. You first have to check if your actions align with what you want and value.

If you'd like to learn more about how you can take control of your finances, visit our website and schedule your introductory free meeting!
https://www.frontierfp.biz

07/21/2022

Remember what you CAN control when going through Market Instability

The fluctuating market are on the top of people's minds these days. When world events out of our control threaten to make changes to our investments, it can be worrying. While markets always regain what was lost in the long run, it is natural to feel frustrated or worried when huge financial influencers like markets, government policy, and taxes are out of our hands.

To ease your mind, remember what things ARE in your control when it comes to your finances.
1. Your portfolio's diversity
Sure, the market may be turbulent but if you haven't put all your eggs in one basket you minimize the danger of losing your full dozen.
2. Your income
While this is not completely in your control, you can find ways of increasing your income, perhaps by increasing the number of sources for your income.
3. Spending habits and savings
This is where you have the most control - and with planning, organization and will power you can make a huge difference.

The bottom line: Focus on what you can control and don't waste your energy worrying about "what ifs" that you don't have any influence on.

At Financial Frontier, we can help you take firmer control over your financial future and gain a little peace of mind.

06/16/2022

Retirement planning 101 for Alaska State Employees

Alaska state employees are entitled to certain benefits when it comes to your retirement. But do you know exactly what items you need to be paying attention to for your retirement plan? Below are the five main areas you need to know about when it comes to your retirement:

1. Retirement Planning: As a public employee you have retirement accounts and pensions, but those things alone are not a retirement plan. A retirement plan will factor in your retirement benefits as a public employee. It will also identify additional opportunities outside of your public employee benefits that can help you reach or exceed your goals in retirement. How much money do you need to retire the way you want to? Where do you want to go? That is what retirement planning is sure to address.
2. Tax Planning: Public and private sector employees alike have taxes to account for when it comes to financial planning. No one can escape them. Public employees can benefit greatly from tax planning to ensure that their retirement income and pension benefits aren’t taxed more than necessary.
3. Investment Planning: Investing is how you grow your money. Knowing which elections make the most sense within your public retirement account only scratches the surface of what a thoughtful investment strategy can mean for your financial reality.
4. Insurance Review: Having the right insurance coverage is critical to protecting your financial interests. You can be over or underinsured, vulnerable in some areas and not others. Your financial plan should take a closer look at your insurance needs and current insurance coverages to make sure you have what you need and understand your options.
5. Review of State retirement benefits: As a public employee, your financial plan should include an area devoted to making the most of your unique retirement benefits.

When working with a financial planner, make sure that they cover these topics with you.

Visit our website and schedule your introductory free meeting!
https://www.frontierfp.biz

06/14/2022

Tax planning tips for Alaska employees

Alaska employees may not have to pay a state-income tax but there are still some tax planning strategies specific to you. These will come into play only if you plan to retire in Alaska.

1. Consider opening a Roth IRA
If you plan to retire in-state, you can put some of your savings in tax-deferred retirement accounts like a Roth IRA. This will mean that when you start taking distributions, some of your retirement income won’t be taxed.

2. Be aware of PERS and TRS taxable income
Take note that PERS nonoccupational disability benefits and TRS disability benefits are taxable as income upon receipt. In addition, since the PERS and TRS definitions of disability differ from that of the Internal Revenue Service, the benefit is subject to the 10% IRS penalty for early distribution.

If you don’t plan on retiring in-state, or for unexpected reasons have to relocate or end your employment with the state, ask for a refund of your employee contribution of your state employee pension program. While this is rarely the best option for usual cases, it means that you will receive a refund of your contribution and not receive the benefits upon your retirement.

Visit our website and schedule your introductory free meeting!
www.frontierfp.biz

Address

Fairbanks, AK
99709

Opening Hours

Monday	9am - 3:30pm
Tuesday	9am - 3:30pm
Wednesday	9am - 3:30pm
Thursday	9am - 3:30pm
Friday	9am - 3:30pm

Website

http://www.frontierfp.biz/

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