TSG Financial Blog

Posted by Debbie Gluzband on Sep 19th, 2016

According to the “2016 U.S. Trust Insights on Wealth and Worth®,” the U.S. currently has over 2 million households with $3 million or more in assets. The report, based on a national survey of 684 individuals from this group, revealed unexpected but similar characteristics among high-net-worth and ultra-high-net-worth Americans.

Most of those surveyed did not come from wealthy families. Fifty-eight percent came from middle-class backgrounds; 19 percent came from low-income homes. Corporate careers and entrepreneurial success accounted for over half of the wealth earned.

On average, only 10 percent of the participants’ wealth was inherited. Nonetheless, family life appears to have played an instrumental role in building it. Eight in 10 individuals described their parents as firm disciplinarians who encouraged their children’s interests and talents. Their parents typically stressed academics, financial discipline and work participation. They began saving money at the average age of 14 and earning money outside the home by the time they were 15. Three-fourths of the men and women surveyed married and never divorced.

Overall, group members didn’t achieve their biggest returns by taking major risks. Instead, 89 percent of respondents reported their greatest investment gains came from traditional stocks and bonds, and buy-and-hold was the most prevalent strategy among 86 percent of them. Nearly half also own tangible assets, such as real estate, farmland and timber properties. One-fifth own private equity or venture capital.

The high-net-worth individuals appear largely optimistic about the markets. One in five maintains more than 25 percent of their portfolio in cash in large part to allow them to move quickly on investment opportunities. Nearly two-thirds use credit to build their wealth.

Giving back is also a shared priority. Almost two-thirds volunteer their time; nearly half serve on a non-profit board; and three-fourths believe they can make their greatest contributions through financial donations.

Regardless of your level of assets, there may be opportunities to save more for retirement and protect what you have saved. 

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Sep 14th, 2016

Recent studies have found a link between EGCG, a compound found in green tea, and increased brain functionality in areas associated with working memory. Mara Dierssen, a Group Leader at the CRG-Center for Genomic Regulation in Spain, decided to look into this link to see if EGCG could reduce some of the cognitive symptoms of Down syndrome.

Dierssen found that individuals in the study who were given EGCG exhibited higher results in visual memory, the ability to control responses, and the ability to plan or make calculations. Although it is too early to make concrete conclusions, these initial results have prompted plans for further studies.

What’s Next?

Additional research is being conducted to see if EGCG has any beneficial effects on treating diseases like dementia and Alzheimer’s. EGCG and its effects are an emerging area of study, so you can expect to hear more on this topic in the future.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Sep 9th, 2016

Are you following TSG Financial on Twitter and LinkedIn? Here's what's happening on our social media:


Read More
Posted by Debbie Gluzband on Sep 6th, 2016

On July 21, 2016, federal regulators published a proposed rule that aims to improve the Form 5500 annual report filed by employee benefit plans.

Under the proposal, all ERISA-covered plans that provide group health benefits, regardless of size, would be required to file a Form 5500, including the new Schedule J (Group Health Plan Information) and any other applicable schedules. The proposed changes would eliminate the current filing exemption for small group health plans, and instead, small, fully insured plans would be required to answer a limited number of questions on the Form 5500 and Schedule J.

Other proposed updates to Form 5500 include:

  • Financial Information—Improved reporting on alternative investments, hard-to-value assets and investments through collective investment vehicles;
  • Data Mining—Conversion of more elements of the Form 5500 into data that is organized in a structured manner to make them usable for data mining and analytic purposes;
  • Service Provider Fee Information—Updated fee and expense information for plan service providers; and
  • Compliance Information—Additional reporting on plan operations, service provider relationships and financial management of plans.

If finalized, the changes would apply for plan years beginning on or after Jan. 1, 2019.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Sep 5th, 2016


TSG Financial hopes everyone had a safe and happy Labor Day weekend!

Read More
Posted by Debbie Gluzband on Aug 29th, 2016

While it’s true most retirees spend less than they did while working, there are some expenses people often underestimate when planning for their golden years. Here are just a few:

Transportation. According to Bureau of Labor Statistics, the average household among those age 65 and older spends $579 per month on transportation. This includes car payments, insurance, maintenance, gas and even an occasional airfare.

Medicare Misses. Medicare doesn’t cover dental work, even though the likelihood of needing expensive treatments increases with age. The average cost of a porcelain crown is around $1,400; the cost of implants or dentures can add up to five figures. Yet private dental policies marketed to seniors often limit coverage to $1,500 a year. Hearing aids and eyeglasses are also exempt. And then there are deductibles and co-pays. For 2016, there’s a $1,288 deductible for hospital costs under Medicare Part A and a $166 deductible for doctor expenses under Part B. After 60 days in the hospital, a patient will pay a daily co-insurance of $322.

Taxes. The IRS taxes funds withdrawn from tax advantaged savings plans and taxes Social Security benefits if total income exceeds a specified base amount. Thirteen states tax Social Security benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont and West Virginia. Forty-three states tax pensions. Unless a homeowner gets a senior exemption or hike freeze, their home’s property tax will likely increase over time. While some municipalities make tax breaks available to everyone after a certain age, many base them on income limits.

Housing. Even if seniors have paid off their mortgage and get a break on their property tax, repairs and maintenance costs can be higher in retirement. As they age, they may need to hire tasks they previously performed themselves, such as mowing, snow removal, minor repairs and even cleaning. And if they’ve owned their home a long time, it may require big ticket repairs like a new roof, furnace or windows.

A well-rounded retirement plan explores your desired lifestyle, creates a strategy to achieve it and allows for contingencies.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Aug 24th, 2016

August is “Children’s Eye Health and Safety Month.” This is not only a good time to get your child’s eyes checked before school starts, but it is also a good time to ensure that they are protecting their eyes while playing sports.

Many youth sports teams don’t require eye protection, so parents should insist that their children wear safety glasses or goggles when playing. Parents can also set a good example by wearing protective eyewear themselves. The following graphic shows the type of protective eyewear that should be worn while playing popular sports.


Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Aug 17th, 2016

In light of the growing prescription drug and heroin epidemic, the Obama administration announced the creation of the Mental Health and Substance Use Disorder Parity Task Force.

This task force will build upon the parity provisions included in the ACA, and will work to identify and promote best practices for compliance as well as identify areas for further improvement.

The task force will be made up of directors from seven government agencies. They will conduct outreach to patients, health care providers, employers and insurers to make behavioral health a priority and improve the prevention and treatment of mental health and substance abuse disorders.

The task force will present a report to the president before Oct. 31, 2016, and its findings and recommendations will be made public.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More
Posted by Debbie Gluzband on Aug 10th, 2016

Are you following TSG Financial on Twitter and LinkedIn? Here's what's happening on our social media:

Read More
Posted by Debbie Gluzband on Aug 8th, 2016

Amid countless headlines about the projected Social Security shortfall that could necessitate a 23 percent cut in benefits by 2033, seniors are understandably frustrated by Congress’ failure to address the issue. But many future retirees aren’t aware the following factors could also diminish their Social Security income.

  1. In 2016, seniors who begin drawing Social Security before their full retirement age will see their benefits reduced by $1 for every $2 of earned income above $15,720. During the year they reach full retirement age, their benefits will be cut $1 for every $3 of earned income above $41,880 until the month they reach full retirement age. From then on, there are no reductions because of working.
  2. Legislation passed in 1983 and 1993 taxes Social Security benefits on recipients with rather modest incomes. An individual reporting income between $25,000 and $34,000 will see up to 50 percent of their Social Security benefits taxed. If their income exceeds $34,000, up to 85 percent of benefits is taxed. 
  3. Medicare premiums for Part B and Part D can be greater if enrollees’ income exceeds set limits. Part B premiums can be as much as $389.80 a month for higher income individuals (based on modified adjusted gross income on their 2014 tax return). Individuals with a modified adjusted gross income of more than $85,000 in 2014 will also pay extra for Part D.
  4. A disparity between Social Security cost-of-living adjustments and increasing Medicare premiums is expected to grow. Since 2010, yearly COLA adjustments have been relatively low and at zero for three of those years. The Social Security Board of Trustees estimates the average COLA going forward will be 2.7 percent or less. But the Medicare Board of Trustees projects Part B premiums will increase by 5.76 percent annually through 2024, and Part D premiums will increase by 7.1 percent annually. According to a recent Motley Fool article, this could result in seniors paying 40 percent of their Social Security benefits to Medicare within 10 years.* 

You may not be able to control legislation Congress passes affecting Social Security, but you can do your part to ensure your retirement is secure. Please feel free to call us and set up an appointment to review your portfolio and discuss your retirement goals.

Securities America and its representatives do not provide tax advice; therefore, it is important to coordinate with your tax advisor regarding your specific situation.

*“Get Ready to Kiss a Majority of Your Social Security Benefits Goodbye,” http://www.fool.com/retirement/general/2016/05/21/get-ready-to-kiss-a-majority-of-your-social-securi.aspx

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

Read More

Pages

Useful Resources

Check this firm's background with BrockerCheck by FINRA