Tips For Saving Money During The Holiday Season

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Though you may have been thinking about the holidays for quite some time already, now that Thanksgiving has passed, it is officially time to begin your holiday shopping. If you've been following our blog, then you should already have a pretty good idea of how to holiday shop on a budget and how to avoid holiday debt, but today, we're going over something new - how to save money during the holiday season. See below for some of our best tips:

Donate your time: A great gift doesn't have to cost you hundreds of dollars - dedicating your time is just as meaningful and valuable to any recipient! Whether you volunteer in your community or help out a family member or neighbor with tasks such as grocery shopping or general housework, simply giving up a part of your day to help others without expecting anything in return can be the best gift of all.

Cut back where you can: Saving a few dollars here and there can really make a difference when it comes to how much money you have leftover for holiday spending purposes. For example, if your family favors going out to eat, order water instead of soda or skip out on dessert. By cutting back on your spending in even the smallest of ways, you can save up enough to feel comfortable buying the gifts on your friends' and family's wish-lists.

Be creative: Channel your inner creativity and take on some DIY projects! Say a scarf is on your list of presents to buy - if you're feeling up to it, you can create a handmade one by following some basic instructions from any local craft store! Or, if you were thinking of buying some home goods such as picture frames, you can create your own and even stick a special photo in it prior to wrapping things up! Like we said under "donate your time," a great gift doesn't have to cost you hundreds of dollars, and a do-it-yourself present is a great way to minimize your costs!

Considering that the holiday season can certainly be one that has you and your wallet feeling overwhelmed, we know how important it is for you to feel comfortable financially - one thing's for sure, these tips are a great place to start!

For additional tips when it comes to the holiday season, be sure to check back to our blog regularly and connect with us on social media. Then, for more information about our financial planning services and how we can help you once the new year rolls around, please give us a call at (516) 932-5130 or visit us on our website!

Meet Nicole Nugent: Assistant Financial Representative and Office Manager

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. We pride ourselves on the fact that our firm is built on a group effort, and since it is so, we invite you to become a part of our team by getting to know each of our experts individually. Today, we would like to feature Nicole Nugent, our Assistant Financial Representative and Office Manager!

Originally from North Babylon, New York, Nicole has always been interested in a career where she could work with numbers. That said, it's not surprising that she was a natural at math during her academic career! After her first job as a bank teller, she eventually landed a role as a new accounts representative, which then led to her being a mortgage loan officer. While working, she began taking college classes at night and realized that the financial industry was where she wanted to stay.

Upon receiving her Accounting Degree from Hofstra University here on Long Island, Nicole accepted a job on a bond desk and later decided to take the Series 7 exam. Today, she has 26 years of experience as a professional in the financial industry, and has been a member of the American Investment Planners LLC team for just about 8 years. When she first began with us in 2009 she assisted in managing our accounting needs, and since then she has also expanded within the firm to be our Office Manager.

When asked about her most memorable experience on the job, Nicole doesn't point to just one instance. Rather, she views each opportunity to help a client as one for the record books. And when she isn't sure of the answer to their question(s)? One thing's for sure - Nicole stops at nothing and will always take the time to research and find a solution.

Outside of work, some of Nicole's hobbies include shopping, cooking, gardening and fashion. Additionally, she also enjoys traveling, fitness, the beach, and spending time with family and friends!

Here at American Investment Planners LLC, we are extremely thankful to have Nicole as a part of our team. Her dedication to our clients and willingness to always go above and beyond is something we truly value!

For more information about Nicole, please check out her employee bio on our website!

Tips For Financial Success on Black Friday and Cyber Monday

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

For those of you who prefer to be proactive and get a head start on your holiday shopping, two of what are probably your favorite days of the year are almost here - Black Friday and Cyber Monday. Regardless of whether you prefer to shop online or physically in the stores, these two days following your Thanksgiving celebration are the perfect opportunity to snag the best deals on those gifts you plan on giving. And even though it's already a day that sets you up for financial success, here are a few more tips to really help you get the most for your money:

Be aware of hidden fees: The item that is 50% off when bought online sure will seem appealing, but does that include shipping, handling and taxes? By the time you're done checking out, you may just find that the 50% sale online winds up costing you more than the 40% sale in store. Therefore, you must look into what these sales actually include before deciding that one is the best deal for you.

Avoid window shopping: On Black Friday especially you can bet that stores will have their deals heavily advertised right where you can see them in an effort to lure you in. But, if you weren't planning on going to that store in the first place, this could cost you. Before you head to the mall or your local shopping center, create a list of the stores you need to hit and make a promise to yourself that those are the only stores you will visit.

Devise a plan: You may find that some stores advertise different deals throughout the day, so depending on what items you're looking to find you may need to visit one store at a very particular time. Before you head out, do some research to see if this applies to any of the stores you're planning to shop at, and if it does, put together an itinerary for yourself so that you don't miss out on any spectacular deals.

Whether you're a routine Black Friday and Cyber Monday shopper or have decided to make this your first year participating in the craze, know that these tips can help guide you towards financial success! Are you ready to get out there?

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.

How To Holiday Shop On A Budget

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

If you haven't already started thinking about it, we bet holiday shopping will pop into your mind after Thanksgiving dinner is done. After all, Black Friday ultimately kicks off the season, and if you want to get ahead you're probably at least considering getting started in the next week or so. But just because days like Black Friday and Cyber Monday exist where you can find killer sales for the most sought out items on this year's wish-lists, we know not everyone has the leisure of swiping their credit card without a care - that's why we've prepared these tips on how to find the perfect gifts on a budget:

Create categories: Start by making a list of all those you plan to buy gifts for, then divide them into categories - for example, family, friends, work and school. After this is set, decide how much of your budget you'd like to allocate to each group. Since chances are you probably want to spend more on family than your coworkers, setting a budget for each category can help you avoid overspending on certain individuals.

No new credit cards: A common question that you'll likely be asked every time you shop at a new store is if you'd like to open a store card. Although they may offer exciting incentives such as a certain percent off of your purchase, saying yes could dig you into a hole since you may be inclined to spend more as a result. 

Avoid last minute trips: If you're looking to get the best bang for your buck, you don't want to be out shopping the day before it's time to exchange gifts. Why? At this point, you won't have enough time to look for coupons or compare prices at other stores. To feel confident that you found the best price in town, you should have your shopping done well before the holidays actually arrive.

Considering that the holidays are supposed to be an exciting time of year, we certainly don't want you to feel like you can't enjoy them because you have a strict budget to follow - that's where these three tips come into play. And the best part is, they're all pretty simple to follow!

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.

Money Myths That Are Costing You To Believe

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Let's face it, any time there is an opportunity to save money, most of us would jump right on it - it's only natural! But what if the opportunities you thought were great actually turned out to be costing you more? If you're a firm believer in everything you hear, you may be losing more than you save - money myths are everywhere! Don't worry, though, we're here to debunk them for you and provide you with the truth:

Myth #1: The cheaper option is always the better option.

Yes, purchasing the cheaper option can help you financially at the time, but in some cases this will require you to spend more later on. Take home appliances for instance. You may feel like you're shopping smart by purchasing the cheaper of two washing machines, but down the line the cheaper product may cost you more in repairs or worse, complete replacement. When it comes to deciding between options, you really need to weigh the pros and cons rather than automatically reach for the lower price tag.

Myth #2: Always head to the clearance rack.

Of course buying items off of clearance racks will be cheaper than those that are not, but sometimes seeing a "great deal" may encourage you to buy things that you don't really need. Even if the item is inexpensive, it's still extra money coming out of your pocket. If, however, the clearance rack is your favorite place to shop, only look for the items you set out for and, if they aren't there, head elsewhere.

Myth #3: Cash always wins.

There is definitely truth to the idea that if you leave your credit cards at home you won't be tempted to spend more than you can afford, but don't forget to think about your banking and how you keep track of your money. With cash, it can be easy to lose sight of certain purchases and ultimately make banking harder - this could also lead you to spend more than you realize. If you prefer cash over credit, make sure you're organized financially so that you don't stray too far off course. 

For a list of additional myths that are costing you to believe, check out this article from U.S News and World Report.

As a leading financial planning firm, we at American Investment Planners LLC want you to feel confident in your financial situation and seek advice that only works in your favor. Rather than believe everything you read about topics such as retirement planning, estate planning and tax planning, turn to our trusted advisors - we'll always provide you with the most accurate information and answers!

To speak with a member of our team, please call (516) 932-5130 today.

Why Follow American Investment Planners LLC On Social Media?

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

If you've met with our team in person, then you certainly know the benefit of working with us and what we're all about. But aside from being available face-to-face, did you know that our team is also active on social media? From Facebook to Twitter, LinkedIn and Google+, you can find us all across the web.

So now the question is why - why should you connect with us on social media? Whether you are a current client of ours, past client of ours, prospective client of ours, or are simply looking for some more information about financial planning, here are three of the benefits of following our profiles:

Retirement Tips: Retirement planning is a huge part of financial planning, and it may just be one of the most important. After all, although you may spend more years working, retirement is a huge portion of your life! On each of our social media profiles, including our blog, you can find tons of tips about retirement that can help you be better prepared for when this time comes.

Current events: Want to know what's happening in the stock market or what industry leaders are saying about financial matters? We've got all of that and more on our social media profiles! Each month, we share articles pertaining to current events from some of the top publications, so you'll never feel out of the loop!

Employee Bios: One thing we pride ourselves on is that we develop close relationships with each of our clients - meaning, we go to great lengths to learn all about their lives, even those areas that don't necessarily relate to financial planning. But in order for the relationship to work, we need our clients to feel comfortable with us, which is one reason why we highlight one of our employees every month! Before you even walk in our door, you can get to know all about the individuals you may be working with on your financial plan.

Considering that social media plays a big role in all of our lives, we certainly hope that you'll take some time to connect with us now that you know the benefits doing so can bring!

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.

How To Avoid Holiday Debt

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

If there's a time of the year where your wallet cries for help the most, it is most definitely the holiday season. Between gifts, parties, decorations and travel if necessary, you probably shell out more cash during the last two months or so of the year than you do the other 10 (give or take). Unfortunately, if you aren't careful, this could also cause you to struggle financially once January rolls around.

Rather than have debt haunt you after the holidays are over, utilize these tips to avoid it from the start:

Create a plan: Start by making a list of all of your holiday expenses (then check it twice!). By having a clear outline of all of the purchases you have to make, it will be much easier for you to stay within your budget. If you already know the exact gifts you'll be buying, get specific and list them as well to avoid spending more on any one person than you planned to.

Make it meaningful: It's the thought that counts! Rather than set out for the most expensive gadgets, jewelry and accessories for family and friends, look for something more meaningful instead. For example, while your sister may really love that designer handbag, consider putting together a collage of all of your favorite memories and have it framed. Even though they may be smaller and not nearly as pricey, gifts that come from the heart are always a win-win.

Set credit cards aside: Your credit card practically screams "use me" when it's just sitting in your wallet or in your purse. Therefore, you may find it's best to just keep it at home. Though you won't have as much money at your disposal to use during your holiday shopping spree, relying only on cash can prevent you from spending more than you can afford.

Shop smart: While searching for coupons and comparing deals at different stores can be time consuming, it will be time well spent. Especially when you're looking for items that are costly, you'll want to be sure you're getting the best bang for your buck, even if it's just a few dollars here and there.

Put your wants aside: It can be easy to add items you want to your shopping cart as you buy for family and friends, but remember that even small gifts for yourself add up. Before you head out, make a promise to yourself that you'll only buy what you set out for, not all of those little extras that are hard to resist.

Although it is considered one of happiest times of the year, we know that the holiday season can be stressful when money comes into play. However, by following the five tips we listed above, you can be on your way to a debt-free holiday!

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.

The End of File and Suspend for Married Couples: A Great Claiming Strategy To Try and Optimize Social Security Benefits Disappears

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers
approved a two-year federal budget deal. As part of that agreement, they authorized the most
significant change to Social Security policy seen in this century, disallowing two popular strategies people have used to try and maximize retirement benefits.1

The file-and-suspend claiming strategy will soon be eliminated for married couples. It will be phased out within six months after the budget bill is signed into law by President Obama. The restricted application claiming tactic that has been so useful for divorcees will also sunset.2

This is aggravating news for people who have structured their retirement plans – and the very timing of their retirements – around these strategies.

Until the phase-out period ends, couples can still file and suspend. The bottom line here is simply stated: if you have reached full retirement age (FRA) or will reach FRA in the next six months, your chance to file and suspend for full spousal benefits disappears in Spring of 2016.3

Spouses and children who currently get Social Security benefits based on the work record of a husband, wife, or parent who filed-and-suspended will still be able to receive those benefits.3

How exactly did the new federal budget deal get rid of these two claiming strategies? It made substantial revisions to Social Security’s rulebook.

One, “deemed filing” will only be allowed after an individual’s full retirement age. Previously, it only applied before a person reached FRA. That effectively removes the restricted application claiming strategy, in which an individual could file for spousal benefits only at FRA while their own retirement benefit kept increasing.2

The restricted application claiming strategy will not disappear for everyone, however, because the language of the budget bill allows some seniors grandfather rights. Individuals who will be 62 or older as of December 31, 2015 will still have the option to file a restricted application for spousal benefits when they reach Full Retirement Age (FRA) during the next four years.2

Widows and widowers can breathe a sigh of relief here, because deemed filing has no bearing on Social Security survivor benefits. A widowed person may still file a restricted application for survivor benefits while their own benefit accumulates delayed retirement credits.2

Two, the file-and-suspend option will soon only apply for individuals. A person will still be allowed to file for Social Security benefits and voluntarily suspend them to amass delayed retirement credits until age 70. This was actually the original definition of file-and-suspend.2

Married couples commonly use the file-and-suspend approach like so: the higher-earning spouse files for Social Security benefits at FRA, then suspends them, allowing the lower-earning spouse to take spousal benefits at his or her FRA while the higher-earning spouse stays in the workforce until 70. When the higher-earning spouse turns 70, he/she claims Social Security benefits made larger by delayed retirement credits while the other spouse trades spousal benefits for his/her own retirement benefits.4

No more. The new law says that beginning six months from now, no one may receive benefits based on anyone else’s work history while their own benefits are suspended. In addition, no one may “unsuspend” their suspended Social Security benefits to get a lump sum payment.2

To some lawmakers, file-and-suspend amounted to exploiting a loophole. Retirees disagreed, and a kind of cottage industry evolved around the strategy with articles, books, and seminars showing seniors how to generate larger retirement benefits. It was too good to last, perhaps. The White House has wanted to end the file-and-suspend option since 2014, when even Alicia Munnell, the director of the Center for Retirement Research at Boston College, wrote that “eliminating this option is an easy call ... when to claim Social Security shouldn’t be a question of gamesmanship for those with the resources to figure out clever claiming strategies.”4

Gamesmanship or not, the employment of those strategies could make a significant financial difference for spouses. Lawrence Kotlikoff, the economist and PBS NewsHour columnist who has been a huge advocate of file-and-suspend, estimates that their absence could cause a middle-class retired couple to leave as much as $70,000 in Social Security income on the table.3

What should you do now? If you have been counting on using file-and-suspend or a restricted application strategy, it is time to review and maybe even reassess your retirement plan. Talk with a financial professional to discern how this affects your retirement planning picture.

American Investment Planners may be reached at 516-932-5130 or email us at info@americaninvestmentplanners.com. www.americaninvestmentplanners.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance particular investment.

Citations.
1 - thehill.com/blogs/floor-action/senate/258629-senate-approves-budget-deal-in-overnight-vote [10/30/15]
2 - marketwatch.com/story/key-social-security-strategies-hit-by-budget-deal-2015-10-30 [11/2/15] 
3 - pbs.org/newshour/making-sense/column-congress-pulling-rug-peoples-retirement-decisions/ [11/1/15]
4 - slate.com/articles/double_x/doublex/2015/10/budget_deal_closed_social_security_loophole_known_as_file_and_suspend.html [10/30/15]

Tips For Hosting Thanksgiving On A Budget

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Whether you have a large family or small, chances are you have plans to get together for Thanksgiving - after all, it is a totally family friendly holiday. But with that comes someone needing to be the holiday host. Are you volunteering this year?

Between the food, the place settings, potentially even decorations like centerpieces, we know it can get pretty costly for the family in charge of Thanksgiving dinner. That's why below, we've put together a few tips that can be used for your night to be a success even if you're on a tight budget.

Have a menu in mind: Before heading to the grocery store to pick up your appetizers, side dishes, desserts, and of course, the turkey, put together a menu that lists all of the food you'd like to have. If you don't, chances are you'll wind up bringing more home than you actually need, because, let's face it, all holiday food just looks too good. To avoid buying more than necessary, make sure to enter the grocery store with a list in hand.

Ask guests for help: It's only natural for guests to bring something with them to Thanksgiving dinner, so don't be afraid to suggest a dessert or side dish. Not only will this make things easier on your wallet, but it will also help eliminate some of your holiday stress since you won't need to do all of the work!

Be aware of sales: As we get closer to the holidays you can bet that stores are going to start having sales. That means it's your job to be on the lookout! This also goes for coupons - if you usually throw out coupon books or toss newspapers to the side, you need to start spending more time paying attention to the special offers they contain.

Plan ahead: Nothing's worse than leaving all of your holiday shopping until the last minute, especially when a budget is involved. While there are some food items that may need to be purchased closer to the day of, there are tons of others that can be bought in advance so that you don't find yourself scrambling. If you wait too long, you can bet all of the items on sale will be gone!

Think about leftovers: If you have to spend more than you wanted to on food, remember that you can always save leftovers for a few days after the festivities are over. In this case, you may be able to reallocate some of your funds since you won't need to spend money after the holiday if you don't have to worry about dinner for the nights following! 

Although the holiday season can be an expensive time of year, don't stress about how you'll cover costs as the host or hostess - there are always plenty of opportunities to save, you just need to know how to find them!

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.

Medicare Changes and Open Enrollment for 2015/2016

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

Health insurance is one of the most important aspects of financial planning, especially as you begin to get older. And if you haven't already heard, Medicare has been making some changes, with two new types of coverage being added since it first became a law in 1965. With some open enrollment periods already open and others just around the corner, you'll want to know about the following to see if your current coverage is worth changing.

Medicare Changes

Along with Part A hospital insurance and Part B medical insurance (what is now called Original Medicare), two new parts - C and D - have been added to coverage through Medicare plans. Part C, which is also known as Medicare Advantage, is said to replace Original Medicare - most of the time, it will include prescription drug coverage and several other benefits as well. Part D on the other hand, which is specifically for Prescription Drug Coverage, can be chosen alongside Original Medicare or Medicare Advantage Plans that do not include such drug benefits at the time.

Open Enrollment Periods:

There are three open enrollment periods that you should be aware of if you participate in a Medicare plan; they are:

1. October 15 to December 7: This open enrollment period is for those who currently have Original Medicare, Medicare Advantage and Medicare Prescription Drug plans. During this time Medicare beneficiaries can change between plans, join a Part D plan or drop their prescription coverage completely. Changes made will be effective as of January 1 of next year.
2. January 1 to February 14: The open enrollment period beginning January 1 is specifically for those with Medicare Advantage Plans - this is the time where they can switch to an Original Medicare plan. If this is a change that you choose, your deadline to enroll in a Part D Prescription Drug Plan is February 14.
3. December 8 to November 30: Also called the "Five-Star Special Enrollment Period," this time allows for Medicare beneficiaries to make the switch to a "5-star" Medicare Advantage Plan, Prescription Drug Plan or Medicare Cost Plan. 

Should you have additional questions about Medicare, its latest changes and open enrollment periods, please click here. 

Like we said earlier, we know how important insurance is when it comes to financial planning, which is why we at American Investment Planners LLC can assist with long-term care and life insurance policies. To learn more about how we can help with this particular topic, please visit our website or call (516) 932-5130 - you can even request a quote for certain types of insurances directly through our site. 

Above information courtesy of Emerald Connect. 

Reasons Why You Should Start Investing In November

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

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

It's never too early or too late to start investing, but believe it or not there is a certain span of months throughout the year when getting started is ideal. When is that, you may ask? The answer is any time between November and April; according to U.S News and World Report Money. Even if you are actively investing and have an account such as a 401(k), now is a good time to start looking at where your money is currently allocated, as you may want to make some changes. Here's why:

Just like businesses, sports teams, even students in school, have their ups and downs, so does the stock market, and research has shown that the U.S stock market has "consistently produced outsized returns" from November to April when compared to May to October. Knowing this, it seems only obvious that now is the right time to start looking into your investment options. While you may not have imagined the stocks to be something seasonal, the truth is that they are! This is in part due to the fact that as the year comes to a close, some people find themselves with extra money that they've saved or year-end bonuses that they can comfortably pass on to the stock market. Additionally, it may have something to do with the fact that tax season occurs during this window, which may encourage more people to be funding accounts that could directly effect the stock market.

The moral of the story is that if you haven't invested yet this year, now is the time to start thinking about doing so! To read more about why this six month period is a game changer for investors, check out this article from U.S News and World Report.

Once you've made the decision to start investing, or if you already have but need some guidance on your current investments, don't hesitate to contact us at American Investment Planners LLC! Financial planning is our only business, and it is our goal to assist others with the development and implementation of their financial plans.

For more information about the services we offer, please visit our website or call (516) 932-5130 today.