Meet Brett Goldstein: Director of Retirement Planning

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

At American Investment Planners LLC, we work as a cohesive unit to develop and deliver the most beneficial solutions to each of our clients. Being that our firm is built on a group effort, we invite you to become a part of that team by getting to know each of our experts individually. Today, we would like to feature Brett Goldstein, our Director of Retirement Planning!

A native of Plainview, New York, Brett is a University of Hartford graduate who entered the world of finance directly following his college career. With over 20 years of experience in 401(k) administration, pension administration, health insurance, life insurance and other employee benefits, he possesses an incredible background in our field that helps him deliver the most strategic retirement planning solutions to each of his clients.

As a member of the American Investment Planners LLC team, Brett works with individuals on retirement planning and he works with businesses on employee benefits. We are pleased to announce that Brett is also a nationally known author, speaker and media personality who has been featured in a variety of publications and on several TV networks, including Fox Business Network, NY1, Business Week, The Chicago Tribune, Forbes and more.

When asked what his most memorable experience from his career has been thus far, Brett explains, "it was when I was asked to be a guest on the Lou Dobbs show and the Happy Hour Show on Fox to explain the effects of the 2008 market crash on pension plans. Both interviews were scheduled for the same day and it was exciting to be in front of the camera educating consumers." 

Brett is an incredible asset to our team.

For more information about Brett Goldstein, check out his employee bio on our website!

Common Causes Of Falling Into Debt

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you ask anyone what their biggest financial fear is, we are certain that the majority of the answers you receive would somehow revolve around debt. While the type of debt and degree of debt may vary greatly between each individual, the theme of debt alone is likely to be present in any conversation you have with others about financial concerns. 

Now let's get to the real question - what causes someone to fall into debt in the first place? To provide our readers with an answer, we put together the following to outline three of the most common reasons people find themselves in a financial frenzy:

1. Excess Spending: Probably the most common cause of falling into debt is failing to spend wisely and using credit cards too haphazardly. Although they are easy to use and extremely convenient, credit cards can be your biggest enemy when it comes to your financial status. By swiping your life away, it's likely that you'll find yourself with more bills than you can handle relatively quickly.
2. Unexpected Spending: When unfortunate situations like natural disasters and family emergencies happen, many find themselves needing to spend money on things that they weren't expecting to. What's even more unfortunate is that most of the time, these expenses are quite costly, making it difficult to maintain a steady financial status. While most of us generally try to avoid thinking about the potential for these types of events to unfold, it's important to have some type of savings in place to prepare for the unexpected.
3. Medical Spending: Believe it or not, medical expenses are one of the largest contributors to debt and an individual's decision to file for bankruptcy. Though these expenses may not pop up often, when they do, they can be extremely difficult to manage - even when insurance is covering much of the cost.

Here at American Investment Planners LLC, we understand what a difficult experience falling into debt can be. Therefore, if avoiding debt is one of your biggest financial goals, we encourage you to meet with our team to learn more about how we can create a financial plan that incorporates various savings programs. By preparing and planning ahead of time, you can work to reduce your chances of falling victim to these pitfalls.

For more information about the services we offer, please give us a call at (516) 932-5130 or email info@americaninvestmentplanners.com.

Where Can You Find American Investment Planners LLC?

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Since 1984, American Investment Planners LLC has been providing families with strategic financial planning solutions to help them prepare for a variety of life events. Staffed with experts in the tax planning, retirement planning and investment planning fields, the goal has always been to learn about each client's individual needs, investment philosophies and personal values so that the most relevant information and services is presented and used to develop a strategy that works.

Locations

Currently headquartered on Long Island, American Investment Planners LLC can be found in Jericho, New York. But that isn't the only place where these financial planning experts can be found! See below for other office locations in the United States:

Florida - American Investment Planners LLC
The Boca Grove Center

21301 Powerline Road, Suite 100

Boca Raton, FL 33433

(561) 997-0300

Texas - EFS Generation Income Planning

13212 US Highway 87 West

Suite 200

La Vernia, TX 78121

(210) 865-7299

And that's not all! A fourth location will be opening in Kenedy, Texas at 205 Dailey Street next month! Stay tuned for more details.

Although there are only three, soon to be four, physical locations currently available, did you know that American Investment Planners LLC assists clients all over the country? Regardless of where you are, you can count on this dedicated team to be there for you and your family for years to come.

For more information about the firm and the services offered, please visit www.americaninvestmentplanners.com or call (516) 932-5130 today.

What To Do If You Missed The Tax Deadline

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you have successfully filed your taxes, then the fact that April 15 has passed is likely not a concern. However, if you failed to meet the tax deadline, then the fact that April 15 has come and gone is likely something you are going to struggle with until a solution is found. Which of these two scenarios best describes your current situation?

If you fall into scenario B and have not filed your taxes yet, the good news is that you don't have to panic...yet. See below for what you should be doing to avoid the consequences of being late on your return:

File As Soon As Possible: Now that the deadline has passed, you must make it a priority to file as soon as possible. Especially if you owe on this year's return, the sooner you file, the less you will accrue in interest and penalty charges. If you're not sure where to start or how to go about filing, the team of advisors at American Investment Planners LLC can point you in the right direction.

Ask For An Extension: Although you will still be required to pay back any taxes that you owe when submitting an extension request, it does give you extra time to meet with your tax professional and fill out all of the paper work you have yet to complete. For more information about filing tax extensions, check out one of our previous blogs here.

Apply For A Payment Plan: If you completed the paper work but failed to send in a check, you may be able to set up a payment plan with the IRS. Should this be the best solution for you, connect with us to learn if you qualify and to ensure that you fill out the request correctly.

Now that you know how to proceed if you haven't met this year's tax deadline, we encourage you to get started as soon as possible! For more information about how we can help, please give us a call at (516) 932-5130 or toll free at (866) 932-5130 today!

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Three Reasons You Need A Financial Advisor

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Being that it is often viewed as a sensitive subject, many people choose to keep information about their personal finances to themselves. However, although it isn't unusual to want to keep your money out of the minds of neighbors, coworkers, and even your friends, a financial advisor is someone we encourage you to trust – they aren’t just anyone! As trained specialists in the field of finances, financial advisors are your best bet when it comes to keeping your money safe and building a strategy that benefits you and your family down the line.

But aside from helping you protect your assets and plan for the future, why else do you need a financial advisor? Here are three reasons for you to consider:

1. You Are No Stranger To Tax Refunds: Of course everyone loves to hear that they are receiving a refund from the IRS, but getting a refund isn’t always necessarily a good thing. Since refunds are typically a result of you paying too much in taxes throughout the year, somewhere down the line you may have lost out on money that could have been kept in your pocket – did you know that the IRS does not pay you interest on any of what you overpay? By working with a financial advisor, you can better figure out how much you should really be losing from your paycheck every pay period.

2. You Are Not Sure About Your Investment Costs: It is often assumed that you don’t actually pay for your investments, but this is truly not the case. From the moment you begin investing, additional costs are often added on since there is usually a fee for opening an account. Then, moving forward, fees are commonly attached solely for the management of your plan and other operational purposes. Although these fees may be relatively small and nothing that will break the bank, they are still something that you should be aware of since they can impact your return; we recommend routinely checking your monthly statements to ensure that any fees charged match that of your expectations!

3. You Lack Strategy: No one ever wants to think about what would happen if the markets suddenly crashed or if something were to happen to you personally, but it is a reality that we all must face. If you do not have a strategy that will pull you out of even the toughest times, you can bet that at one point or another you may wind up in financial turmoil. To feel confident that you are financially stable regardless of what life throws at you, an expert financial advisor is the best place for you to start.

Do you feel like you need a financial advisor now? For help with all aspects of your finances, don’t hesitate to contact American Investment Planners LLC; we are one of the largest and most respected independent financial planning firms in the country. For more information, please give us a call at (516) 932-5130 today.

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Five Financial Planning Myths

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

What have you heard about financial planning and the process of meeting with an expert advisor? That it's too expensive? Too time consuming? Regardless of what you may have heard and believe, it's important to realize that like anything else, many myths about the financial planning process are circulating and gaining ground - do you know what's true and what's false?

To set the record straight, we've compiled a list of some of the most common financial planning myths and debunked them:

Myth 1: Unless you're rich, you don't need a financial planner:

• Although it may appear that you only need a financial planner if you have a large sum of money to handle, the truth is that everyone can benefit from sitting down with an expert in the field. Why? Planning doesn't always have to be about how you will protect your assets - it also involves developing strategies for how you can live comfortably in the future while working within your means!

Myth 2: No effort is required on your end once a financial planner steps in.

• While yes, your financial planner will take care of the more complex processes that come with saving and investing, they aren't the only party required to put in effort. Since you will still be responsible for where your money goes on a day to day basis, it will be your job to monitor how much you spend and where you spend it when your financial planner is not around.

Myth 3: Investing is the only thing your financial planner can help you with.

• Of course investing is one of the most popular topics people turn to financial planners for, but that certainly isn't all they do! An expert financial planner like American Investment Planners LLC can help you with your insurance, taxes and estate too!

Myth 4: Credentials don't really matter when it comes to financial planning.

• To feel confident that you are receiving well thought out, carefully planned strategies, you must absolutely pay attention to the credentials that a financial planner possesses. Although there are a variety of designations they can have (which may differ in terms of importance depending on what you're seeking help with), you should always take them into consideration when choosing one to work with.

Myth 5: Financial planning is easy enough to be done alone.

• Even if you don't have a lot to manage, financial planning is not the easiest of tasks to tackle. And even if you have the knowledge needed to cover the basics, a financial planner can offer additional insight that can prove to be helpful either in the current moment or down the line.

Now that you know the truth surrounding some of the most common financial planning myths, we encourage you to give us a call to get started on your future! We offer financial planning services for generations of families and to date, manage hundreds of millions of dollars in assets annually.

For more information about how we can help, please contact us at (516) 932-5130 today.

Financial Tips For Expectant Parents

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

When you think about what it means to be an expectant parent, what are the top three things you would say you have to plan for? The baby's room? What you will need to bring to the hospital during delivery? Picking a name? Although these are all very important topics that need to be addressed in advance, one of the most pressing topics that must be discussed is money – how will personal finances change before and after the baby is born? Unfortunately, however, with so much circling in the minds of expectant parents already, money is often one of the last things on their list of things to consider.

To make the process of preparing for a newborn easier on soon to be parents, we've put together a few tips to help where personal finances are concerned; check them out below:

• Depending on the availability of maternity leave, all expectant parents should have a plan for who will take care of the baby and when. In some cases, this will require outside help from a babysitter or daycare center, and that can mean added costs. Prior to returning to work, parents should begin seeking additional care to find a solution that works within their budget.
• Although college won’t even be a thought in the child’s mind for another 18 years or so, expectant parents should have an idea about if and how they will save for tuition costs. For detailed tips on how to save for college tuition, check out one of our previous blog posts.
• While the tiniest of baby clothes are often the cutest, expectant parents should always shop smart and choose items that their children can grow into. But shopping smart doesn't just have to do with clothes! To get the most bang for their buck, parents should keep an eye out for sales in baby stores and choose expensive products like high chairs and cribs carefully.

But the financial planning doesn't end there! Once a child is born, we encourage all expectant parents to meet with a financial planner like ourselves to properly plan for how the rest of their finances will change. With new financial obligations in place, it's important to determine how retirement planning, tax planning and estate planning strategies may need to be adjusted.

For more information about financial planning (and by that we mean for the whole family), contact us at (516) 932-5130 today!

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Pros And Cons Of Filing A Tax Extension

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Every year around this time, the one question that seems to take precedence above all others is have you filed your taxes? And although the tax deadline is approaching quickly, you would be surprised at how many answers are "no" or "not yet!" However, since your taxes are a force that aren't to be reckoned with, it's important for all individuals with financial obligations to be aware of what can be done if your time card does not allow for an on time tax return.

If you're concerned that Uncle Sam will come knocking before you have the time to meet with a financial planner like American Investment Planners LLC, you may be in need of a tax extension. See below for a few pros and cons that come with filing this type of request:

Pros:

1. First and foremost, a tax extension gives you extra time to fill out the tedious paperwork and meet with your financial advisor if you weren't able to do so before the deadline. That being said, though, it is important to note that it does not give you extra time to pay what you might owe. 
2. Since the first four months of the year is the busiest season for your advisor, it may be difficult to make an appointment at a time that best fits your schedule. But, since a tax extension gives you some leeway, you would be able to schedule a meeting for a time that works for the both of you. This does not, however, mean you should wait until the last minute - you should still give yourself plenty of time to set a date!
3. Last but not least, filing for a tax extension is relatively easy. If you are in a rush to file your taxes by the deadline, choosing this route can eliminate some of your stress, and likely won't cause any more due to its simple nature.

Cons:

1. Since you are still required to pay any taxes owed by the deadline, filing for a tax extension could subject you to late fees or penalties. Why? Without filing your taxes on time, you won't know how much you owe, if any!
2. On the other hand, if you are entitled to a refund, choosing a tax extension will delay when your refund winds up in your bank account. If you suspect a refund is on its way, your best bet would likely be setting aside some time to file by the deadline.
3. Filing later in the year doesn't make it any easier. The process will always be the same regardless of which month it happens in, so you won't be getting any breaks by filing later rather than sooner and vice versa. If you tend to push things off for later because they seem too complicated in the now, it would be wrong to assume that filing your taxes in August is any easier than it is in April.

Are you struggling to get your taxes done by April 15? If you're waiting on last minute tax forms or are in need of assistance with any aspects of this year's tax return or future tax returns, lean on American Investment Planners LLC for help! Our team of tax professionals have the tools, resources and strategies you need to make filing your taxes as easy as one, two, three. For more information, visit us at www.americaninvestmentplanners.com or contact us at (516) 932-5130 today.

Am I Ready To Retire?

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

After years and years of answering emails, taking phone calls and sitting behind a desk if your job requires it, it's only natural to start counting down the months and even days until retirement. Especially if you have found that your job is no longer what it once was or simply doesn't satisfy you professionally anymore, chances are you know the exact day and time that you are eligible to retire. Or, you may even be looking for ways to retire early! However, retirement isn't as easy as it sounds; you'll still have to keep up with the cost of living and find ways to support yourself even when the 9-5 routine ends.

So how will you know when it's officially your turn? If you feel confident about each of the following, then you are likely on your way to the next part of your future:

Your Financial Awareness: Knowing how your expenses are going to change is a huge part of the retirement battle. While some costs may be eliminated from your monthly expenses, new ones may take their place or other existing ones may increase. By being financially aware and knowing what type of expenses you will still be expected to cover, it will be easier to determine if you are ready to leave your job or not.

Your Income: Having a steady income is just as important in retirement as it is when you are still in an employer paid position. But where will you get your income from if you are no longer in the working world?  Although Social Security will kick in, it might not be available the moment you're looking to retire - usually it starts around age 62. Therefore, if you are interest​ed​ in retiring before that (and even if you aren't), you should be well educated on your 401(k) and/or your pension so that you know what type of additional income you are projected to receive at the time you plan on retiring. 

Your Debt: Debts of any kind will continue to follow you through retirement, so you will want to know how much you have and how you plan to pay it off while continuing to deal with other expenses. If you're struggling to keep up with the debt you have while you're still receiving a paycheck, you will want to find ways to minimize it as much as possible before leaving the job scene.

Your Benefits: What does your healthcare look like now? What will it look like if you are no longer employed? Although health insurance is available during retirement, it is important to be aware of when it will officially kick in; if you haven't reached that age yet, you will need to find an alternative means of coverage, which could be quite the expense.

Now, even if you feel uneasy about one or more of these ​four​ areas, that certainly doesn't mean that retirement is out of reach; at American Investment Planners LLC, we can get you where you need to be to feel more comfortable! Through our retirement planning services, our team of advisors will work with you to develop the most beneficial financial strategies that you can carry with you all throughout the retirement phase of your life. For more information, please contact us by calling (516) 932-5130 or emailing info@americaninvestmentplanners.com.

American Investment Planners LLC offers tax planning, estate planning, retirement planning and more to generations of families throughout the United States. More information about the services offered is available at www.americaninvestmentplanners.com.

Five Simple Ways To Save For The Future

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

The future - a concept that is talked about often, but unfortunately not always properly planned for. Although it may seem like a far way off, the truth is that each of our futures is practically within reach and, therefore, it is something that we mustn't put out of our minds. What savings have you accumulated so far?

As experts in the financial planning field, we know that certain situations and obligations make it difficult to save as much as you'd like while still having enough to provide for yourself at the current time. However, with these tips, you might just find that even the simplest of saving strategies can produce big results:

Choose The Family Plan | When it comes to things like your cell phone, linking as many family members as possible may help reduce your monthly charge. During your next upgrade or when the next member of your family signs up for their first plan, ask the carrier if they offer any discounts for putting a certain number of people on one plan.

Shop Smart | While heading out to the store on a weekly basis for essentials like milk and bread is unavoidable, every trip down the aisle doesn't need to be a massive one. To keep yourself from spending more on groceries than necessary, either a - write down a list beforehand and stick to it, or b - cut back on the number of times you visit the store and make an effort to stick with what's in your cabinet until you are completely out of options.

Go Green | In the market for a new appliance in your home? As you shop around, always ask to see energy efficient models; these can help you cut down on energy costs! On another note, be sure to always turn off the lights when you leave the room and be conscious about how much water you are using. Utility bills can add up fast, but they certainly don't have to!

Carpool | Especially if you have children that you drop off at school each day, taking advantage of carpooling can be easy. Ignoring all of the other trips you take, driving back and forth between home, school and work requires you to use a majority of your gas. But - by limiting the amount of trips you take and minimizing the distance traveled, you can spend less time at the pump and more time saving.

Always Compare | Before making a large purchase or booking a vacation, spend some time comparing prices to find the best deal. Even if one store or one travel site has something for a few dollars less, that's a few dollars more in your pocket than you would have had.

For more money saving tips, please click here.

At American Investment Planners LLC, we understand the importance of planning for the future. Our knowledgeable team of advisors can help you develop a savings strategy now that will hopefully allow you to live comfortably once you no longer receive a paycheck. For more information about how we can help, visit us at www.americaninvestmentplanners.com or contact us at (516) 932-5130 today.