Cameron Huddleston, Contributing Editor, Kiplinger.com has writtein a very fun and intuitve article on the best and worse buys of May.  Check it out!

Our very own Mike Harter will be hosting the Ask the Financial Planner show on the CMU Public Broadcasting channel on March 29th at 7:30 p.m.

If you would like to participate by asking questions, you can do so the following ways:

1. 1.  Call in and speak to our phone volunteers from 7:30pm-8pm during our live program toll-free at 1-800-727-9268

2. Email the producer, Courtney Brooks, before the show at brook2c@cmich.edu

3. Tweet the production crew at @WCMU_AskThe

Visit http://www.wcmu.org/tv/askthe.html for more information!

Written by: Michael E. Harter, CPA/PFS, CFP®

Making consistent money in the financial markets has been challenging to say the least since the 2008 meltdown.

Interest rates returns continue to plummet as rates remain at historical lows in an effort to revive the economy.    New money from maturing CD’s and bonds are met with nearly non-existent returns.    The stock market looks to build momentum as companies are showing stronger balance sheets, amble cash and leaner cost structures.   However events such as the European debt crisis and our own debt ceiling showdown this past summer keep pushing the markets down.    Now the gas prices have taken center stage to wear down consumer confidence.

Instead of becoming outraged about current events, we accept what is given to us and say “Well at least I did not lose any money”?     Since when did we become so passive or accepting of mediocrity?

We should be engaged in dialogue with policy makers and regulators to get out of the way and stop putting in gimmicks and artificial barriers that prolong the natural process.    We have fiddled with the fundamentals of our capitalistic systems to the point that they can not operate properly and efficiently.    Sure, maybe the intentions had merit, but the unintended consequences need to be examined as in many cases they outweigh the short term benefits.

Too many cooks spoil the broth!  

What say you?

A recent article from Morningstar.com covers this topic.  Many peoplewonder what is the best way to give financial gifts or teach their children or grandchildren the right way of investing and saving.  Whether you are looking to teach them how to invest or save or you are wanting to assist them with college costs, there are many choices out there.  RFM Financial Solutions can also help assist you in financial gifts to minors as well as educate you on the best option for you and your family situation.

Click here to read the article by Christine Benz

Tune in to CMU Public Television at 7:30 p.m. Thursday, Nov. 17, for a new episode of its “Ask the Specialists” series. “Ask The CPAs” is hosted by Robert F. Murray & Company’s Mike Harter and features professional advice from MC Kostrzewa & Company’s CPA Michael Kostrzewa and Robert F. Murray & Company’s CPA Paul B. Murray. Viewers can call in during the program at 800-727-9268, email brook2c@cmich.edu before the show, or tweet the production crew at @WCMU_AskThe. More information at wcmu.org.

There are a lot of tools out there for creating a budget, Excel, pen and paper, past spending, etc.  Kiplinger.com has a great basic home monthly worksheet.  It is a good way to get you started on getting your finances in order!

Click here to go to the on-line worksheet.

People seem to be hedging their risks by purchasing insurance policies against identity theft, gadget obsolescence, having twins, kidnapping and divorce!  Seem unreal?  It is too real actually.  Anne Kadet of SmartMoney magazine published an article regarding these strange but true insurance policies.

Click here to read the full article.

Here is a great KIP TIP from Cameron Huddleston, Contributing Editor, Kiplinger.com, regarding monitoring your elderly parents’ mail.

Financial scams are everywhere we turn. Elderly people are bombarded with donation solicitations in the mail. Now mind you, the majority of these solicitations are legitimate organizations, lobbying groups and political parties, but it can be very overwhelming with the volume that elderly people receive.

To help your parents, start by asking them which organizations matter most to them and try to develop a giving plan for only those groups. The next step is to register your parents with the Direct Marketing Association and removing their names from its national mailing list. This is free if you register on-line. This will not stop all solicitations, but at least slow it down a bit.

http://www.kiplinger.com/columns/kiptips/archives/why-you-should-monitor-your-elderly-parents-mail.html

According to the Privacy Rights Clearinghouse, hackers were able to retrive more than 13 million sensitive records this year alone.  Unfortunately, most companies or people do not know the extent of what has been taken.  Take the following precautions to help avoid this misfortune.

1. Always keep your firewall, anti-malware and antivirus software up-to-date.
2. Be sure to pick passwords that are very strongly coded.  Use upper and lower case letters, numbers punctuation marks and symbols.  NEVER use common words or names.  There are free programs out there that will generate and store all of your log-in credentials on your personal computer.
3. If one account has been compromised, act like they all have been and watch over all statements.  If your Social Security number has been taken, be sure to place a security freeze on your credit report.
4. Be sure to be surfing the web using https://.  Also, try to not use public Wi-Fi to log into sensitive accounts.
5. Don’t be a clicker…bad things can happen when you click on a suspicious download or pop-up.

Just take a few extra steps to save yourself some major headaches!!

A few months ago we conducted a client survey on our financial services.    We had a great response!  It allowed us to gather information about how we were doing and how we can improve our services.

There is a little bit of trepidation when you ask a client “How are we doing?”   We were very pleased and honored when over 90% of those who responded said they were “very satisfied” or “satisfied” with our services and their relationship with their advisor.   The majority of them were in the “very satisfied” category.

While this is a great compliment, we do not want to become complacent.     Areas which were indicated that we could do a better job or offer our clients additional services, as well as the ways of addressing these concerns, are the following:

• Visiting Our Website.    We recently made major changes to our website to make it a more useful tool for information.    You should have received an announcement about this recently.   www.rfmfinancialsolutions.com.
• Using Schwab Services.    I recently mentioned how I am using their check deposit feature on my cell phone.   We will keep you informed about additional services you may find convenient and useful.
• Additional Contact With Clients.   We currently set up two formal meetings per year with our quarterly clients to discuss in detail their portfolio and their plans.    Our plan is to add additional contact throughout the year to discuss any changes in their plans and the status of their account.    These additional contacts will most likely be in the form of a conference call that is set up in advance.     It is important to note that we do not have a limit on how often our clients visit or contact us.    We have an open door policy with all our clients.

Another exciting result of the survey was that 100% of those who responded said they would refer a client to us!   Referrals are the key to growth in financial and professional services.   In fact, 80% of new business generated in our industry comes from referrals by clients and business partners.    We are accepting new clients and looking to further increase our business.

Granted, not everyone talks about money with their friends.   However, there may be certain life events that warrant the need for a referral or change.   Some examples of life changing events where we have helped a number of clients are:

• Job change or separation
• Divorce
• Retirement
• Loss of a family member
• Bad investment experiences

If you, or someone you know, are experiencing any of these life changing events, give us a call so we can assist you through these changes.

Again thank you to those of you who participated in our survey.   We greatly value your input and look forward to using that information to better our service to you.