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Your Bank > Education and Advice > CNB University

Financial Planning

Title
Date
Feb 01, 2016
Social Security Changes in 2016
Social Security claiming strategies have been a key financial topic in recent years, especially as Baby Boomers are planning for and entering into Retirement. As part of the Congressional Budget deal just struck in October by House Republicans and President Obama, two key Social Security claiming strategies have been closed, ending two income-bolstering approaches that benefited married (and divorced) couples, and in some cases their dependents. The strategies being eliminated essentially allowed individuals to collect spousal benefits while their spouse’s own deferred benefit continued to grow by 8% per year.
Feb 01, 2016
Jan 22, 2016
Denmark? Why Investing Abroad Contributes to Long-Term Success
Rich Scandinavian culture, clean energy, and the home of LEGOS. To most investor’s surprise, Denmark was the best performing developed market in 2015, up 23% as measured by the MSCI Denmark Index (USD). Hungary on the other hand was the best emerging market in 2015 up 36% as measured by the MSCI Hungary Index (USD). What does this tell us? Most investors would’ve never expected returns of this magnitude from those capital markets, let alone anywhere over in those scary European markets. That spooky place with all of the debt problems.
Jan 22, 2016
Jan 11, 2016
Three Tax Planning Concepts
There are many ways to potentially reduce your tax burden. Here are three tax planning concepts that you should be familiar with.
Jan 11, 2016
Dec 21, 2015
Taxes, Retirement, and Timing Social Security
The advantages of tax deferral are often emphasized when it comes to saving for retirement. So it might seem like a good idea to hold off on taking taxable distributions from retirement plans for as long as possible. But sometimes it may make more sense to take taxable distributions from retirement plans in the early years of retirement while deferring the start of Social Security retirement benefits.
Dec 21, 2015
Sep 15, 2015
Financial Mistakes People Make at Different Ages

There's a saying that with age comes wisdom, but this may not always be true in the financial world. As people move through different life stages, there are new opportunities and potential pitfalls around every corner. In your 20s Living

Sep 15, 2015
Sep 03, 2015
Working Past Age 70

Age 65 tended to be the standard retirement age back a generation or more ago. That was when working for a single company for 40 plus years and receiving a guaranteed lifetime pension during retirement were the norm. My, how

Sep 03, 2015
Aug 12, 2015
Withdrawing Money in Retirement

If you’ve done the tough work of accumulating savings, you may be wondering how much can be safely withdrawn each year without running out of money in your lifetime. This is important to know since some folks hate to take

Aug 12, 2015
Aug 04, 2015
Age-Based Tips for Making the Most of Your Retirement Savings Plan

No matter what your age, your work based retirement savings plan can be a key component of your overall financial strategy. Following are some age based points to consider when determining how to put your plan to work for you.

Aug 04, 2015
Jun 24, 2015
Saving or Investing: Is There a Difference?

Financially speaking, the terms "saving" and "investing" are often used interchangeably. But the concepts behind these terms actually have some important differences. Understanding these differences and taking advantage of them may help you in working toward financial goals for you

Jun 24, 2015
Jun 04, 2015
To Procrastinate or Not? That Is The Financial Question

The definition of the word procrastinate is to delay or postpone action put off doing something. If we get sick, many of us will not delay or postpone a trip to the doctor and or recommended medication. Why? Because the

Jun 04, 2015
Apr 22, 2015
Welcoming Mike Schiller To Our Wealth Strategies Group!

Michael Schiller has over 23 years of experience in the financial services industry and has been with Canandaigua National Bank & Trust since 2008. As a Financial Planning Officer, Mike provides clients at any life stage the tools and resources

Apr 22, 2015
Apr 07, 2015
Helping Your Parents Manage Their Finances

As the U.S. population gets older, more people, particularly baby boomers, are confronting a dilemma. As parents age, their ability to manage their own finances may decline. That can make it more likely that they may neglect the life savings

Apr 07, 2015
Mar 31, 2015
The Benefits of Planning for Incapacity

Most people comprehend the necessity of having a Will for the orderly transfer of their assets when they die. Fewer people realize the importance of planning for incapacity. Perhaps this is because while mortality is 100% certain, disability is less

Mar 31, 2015
Dec 08, 2014
Taking Advantage of Employer-Sponsored Retirement Plans

Employer sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you're participating in a plan,

Dec 08, 2014
Sep 28, 2014
Podcast: Six Keys to Financial Success for Women
Do women have to take a different approach to planning finances?
Sep 28, 2014
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