Showing posts with label Best Financial Adviser St Louis. Show all posts
Showing posts with label Best Financial Adviser St Louis. Show all posts

Thursday, June 30, 2016

What is the Federal Reserve System?

Our financial planning team in St Louis often gets questions from our clients about the Federal Reserve System (simply known as "the Fed") and how it can affect their investing and saving strategy.  Understanding what the Fed is, and how this central banking system of the United States operates, can help you work towards achieving your financial goals.  The financial advisor team at Bogetto and Associates want to provide you some historical information about the Fed and how it manages interest rates in the United States.


History of the Fed


The Fed was created on December 23rd, 1913 in response to several financial panics that occurred in the early 20th century.  The need for a centralized monetary system caused the creation of the Federal Reserve System.  The primary motivation for creating the Federal Reserve System was to address banking panics. Other purposes are stated in the Federal Reserve Act, such as "to furnish an elastic currency, to afford means of re-discounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes".  Before the founding of the Federal Reserve System, the United States underwent several financial crises. A particularly severe crisis in 1907 led Congress to enact the Federal Reserve Act in 1913. Today the Federal Reserve System has responsibilities in addition to ensuring the stability of the financial system.

So what does the Fed really do?


The Fed has several functions to include:

  • Addressing banking panics
  • Serves as the Central Bank of the United States
  • Supervise and regulate banking institutions
  • Protect the credit rights of consumers
  • Manage the nation's money supply
  • Moderate long-term interest rates
  • Strengthen the US standing in the world economy
The structure of the Fed is comprised of a Board of 7 Governors who are appointed by the President of the United States, and confirmed by the Senate for 14 year terms.  This board oversees 12 District Reserve Banks and sets national monetary policy.  It also regulates the US banking system.



So how does the Fed affect my financial planning?


The Federal Reserve System implements monetary policy largely by targeting the federal funds rate. This is the interest rate that banks charge each other for overnight loans of federal funds, which are the reserves held by banks at the Fed. This rate is actually determined by the market and is not explicitly mandated by the Fed. The Fed therefore tries to align the effective federal funds rate with the targeted rate by adding or subtracting from the money supply through open market operations. The Federal Reserve System usually adjusts the federal funds rate target by 0.25% or 0.50% at a time.

https://en.wikipedia.org/wiki/Federal_Reserve_System#/media/

The effect of increasing or decreasing the federal funds rate has a ripple effect.  In general, the lower the rate, the lower a bank can charge interest on loans such as mortgages, and credit cards.  It costs less to borrow money and provides consumers with access to money to spend immediately.  When consumers pay less for a house or car loan, they have more money to invest or save.  Businesses can also benefit, as it allows them capitol for new equipment or hiring new employees.

If the federal funds rate is higher, then consumers won't have as much disposable income, and banks may make fewer loans.  Businesses may also contract and the demand for goods and services may help to lower inflation.

It's important to keep an eye on what the Fed is doing with the federal fund rate, as it can affect your decision on where to put your investments or savings.  Different financial products may be affected (either positive or negative), and your decision on where to find your highest rate of return my change.  

Let Bogetto and Associates help you figure out what the Fed's effect on your financial goals may be.


Hiring a professional financial advisor firm can make a big difference in working towards achieving your financial goals.  We look at what the Fed is doing and can offer you advice on what financial products may fit best for working toward achieving your goals.  If you have further questions on the Fed or want to know how interest rates affect your investments or savings, please give us a call!

Sources:

Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

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Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  

Bogetto & Associates does not provide legal or tax advice.  These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.

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Location: St. Louis, MO 63127, USA

Thursday, June 9, 2016

Planning for your Children's College Future

College tuition continues to climb and putting aside money for your children’s educational future is extremely important.  Saving for your children’s college fund may seem daunting, but don’t wait too long to start planning.   The financial advisor team at Bogetto &Associates can work with you to provide options for your children’s college years and help you work toward achieving financial goals to meet the tuition needed for college.  We can suggest possible saving and investment strategies that can help you start working toward meeting college tuition costs.


First, Create a Savings Plan and stick to it.
Consider saving for your children’s future education soon after they are born.   The sooner you start putting money away for their college, the less stressful it will be as those years approach.  Do some research on how much your children’s education will cost and then discuss a savings strategy with a financial professional to ensure you have enough when the time comes.



Determine how much money will be you need for college.
College tuition can vary greatly from school to school.  Ivy League college tuition can be in the $50,000+ range per year, while state university tuition can be as low as $6000 per year.  (http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-sector-state-over-time).  Deciding on the amount of money you expect to pay each year will drive your saving and investing strategy.


Have a mixture of savings and investing as part of your strategy
If you begin planning for your children’s college fund early, time is on your side.  You can consider a regular savings plan where you contribute on a routine basis, and also invest in longer term products that may have a larger return than a bank savings account will provide.  Give us a call and we can give you advice on investment products that can help you work towards your financial goals.



Consider looking at Financial Aid, Scholarships, and Grants
Most High Schools today have student financial aid advisors that can help you apply for financial aid.  When thinking about your college requirements, check with these experts to see how this may help bridge any gap between your savings/investment plans for college tuition.  For more info about Financial Aid, go to https://fafsa.ed.gov/


If you don’t qualify for financial aid, help may be found via a variety of scholarships, grants and other awards.  When visiting potential colleges, make sure to stop into the student financial aid office to learn what is available at a particular school.   Scholarships are gifts that don’t need to be repaid. There are thousands of them, offered by schools, employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations.
There are also Grant options that are based upon financial need.  A Grant is not a loan and does not need to be repaid unless you withdraw from school.   For more info about Grants and scholarships, go to https://studentaid.ed.gov/sa/types/grants-scholarships


Bogetto & Associates can help you plan for college
If you have children who are planning to go to college, it’s important that you talk to a financial advisor as soon as possible.  Our team at Bogetto & Associates will listen to your goals for saving for your children’s college tuition and we can provide you options toward working to achieve those goals.   Let our experience make the difference in your financial future…now and for tomorrow!

Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  

Bogetto & Associates does not provide legal or tax advice.  These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.

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Location: St. Louis, MO 63127, USA

Thursday, May 26, 2016

5 things to avoid when establishing a life insurance policy

Life insurance is a necessary step in your financial planning to ensure that your loved ones and family will be taken care of in the event of your death.  You can make mistakes that can cause possible issues for your family.  Our experienced St Louis financial planning team at Bogetto & Associates can help you navigate putting together the right life insurance policy for your situation and help you avoid these 5 mistakes:



1) Only naming a primary beneficiary, or not being specific enough


Most often, the spouse is named as the primary beneficiary.  You need to remember that you may be involved in a situation where you and your spouse both lose your lives.   If you have children, then you should consider including them on the policy as well.  Be specific when naming your children as policy beneficiaries...include their full names, social security numbers, and if you have a percentage of the policy going to each child.  If you do not name a beneficiary, then the benefit will typically go into your estate, leading to possible probate issues.

2) Naming a minor child as a beneficiary


Life insurance companies will not pay proceeds of the policy directly to a minor child.  Create a trust to avoid this issue and name the trust as the beneficiary of the policy.  You can also name a reliable adult as the beneficiary, or name an adult custodian for the life insurance proceeds.  If you don't take this into account, the court can appoint a guardian to handle the proceeds until the child reaches 18 or 21 depending upon the state.  This can be a costly process.



3) Not thinking about possible probate


Many people rely on a written will to express their wishes and pass their assets to their family and others.  Probate however, does not allow the policy proceeds to pass directly to the people that you want to receive it.  The will must go through probate and this can be a lengthy (and expensive) process.  By establishing a trust, you can possibly avoid these issues and get the proceeds to your family quicker.

4) Taxes, taxes, taxes


Many times, life insurance death benefits are generally tax-free.  An exception is if the policy holder is the owner of the policy, but another is the named insured.  You can name a beneficiary of the policy, but this is considered a taxable gift.  

For example, mom may be the policy owner on the life of dad for the benefit of their children. In this situation, mom is effectively creating a gift of the insurance proceeds to her children/beneficiaries. As the donor, mom may be subject to gift tax. Consult financial professionals like the team at Bogetto & Associates for advice on the best way to structure the policy. Bogetto & Associates does not provide legal or tax advice. These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.


5) Disqualifying a beneficiary from Government Benefits


A less common mistake that people can make is to disqualify their beneficiary from government benefits they may be receiving for disabilities or other circumstances.  Government benefits are often tied to the financial circumstances of the individual and receiving proceeds from a life insurance policy may disqualify them from needed help.  In addition, there is a possibility that some proceeds may have to be reimbursed to the government for benefits paid.  Again, consulting a financial professional and an estate attorney can help you clarify any issues that may exist with your life insurance policy.

Bogetto & Associates can help!

Let our St Louis financial advisers help you with your life insurance needs.  We can help you setup the right policy, and help you avoid any beneficiary mistakes.  We will listen to your questions and provide you with any advice you need.  Life insurance is very important for your piece of mind and your family's financial future...let Bogetto & Associates help!

Sources:

http://www.insure.com/life-insurance/naming-life-insurance-beneficiaries.html 

http://www.protective.com/learning-center/life-insurance/life-insurance-basics/five-beneficiary-mistakes-people-can-make-on-their-life-insuranc-policy-and-retirement-plans/ 




Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  

Bogetto & Associates does not provide legal or tax advice.  These topics are discussed in conjunction with your CPA, Tax Advisor and Attorney.

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Location: St. Louis, MO 63127, USA

Friday, May 20, 2016

7 Tips for how Millennials can save for retirement

Unlike some older generations, Millennials (people born in 1979 or later) have some unique challenges when planning for their retirement.  These challenges can be overcome however, and with careful financial planning, this generation can achieve their financial goals.  Bogetto & Associates can help and we have many years of experience helping younger people work toward their goals. Here is some information that Millennials can consider when planning for their financial future.



15 facts about Millennials' Retirement Readiness


In 2014, the Transamerica Center for Retirement Studies conducted a Survey of more than 1000 Millennials who were currently employed and the survey found some very interesting information:

  • Seventy percent of Millennials are already saving for retirement and started saving at the unprecedented young age of 22 (median).
  • Three out of four (76 percent) are discussing saving, investing, and planning for retirement with family and friends. Eighteen percent of Millennials “frequently” talk about it.
  • Two-thirds of Millennials expect their primary source of income in retirement to be self-funded through retirement accounts (48 percent) or other savings and investments (18 percent).
  • Four out of five (81 percent) are concerned that Social Security will not be there for them when they are ready to retire.
  • Many (41 percent) expect that they will need to financially support aging parents and/or other family members when they are retired. Another 23 percent of Millennials are “not sure.”
  • Sixty percent of Millennials plan to retire at age 65 or sooner, including 26 percent who plan to retire at age 65 and 34 percent who plan to do so even sooner.
  • Fifty percent of Millennials plan to work in retirement and, of those, nearly half (47 percent) plan to do so for reasons of enjoyment or staying involved.
  • Three out of four (76 percent) say that retirement benefits offered by a prospective employer will be a major factor in their decision on whether to accept a future job offer.


  • Among Millennials who participate in a 401(k) or similar plan and are offered a company match, their contribution rate is 10 percent (median) of annual pay.
  • The majority (62 percent) who are participating in a 401(k) or similar plan are using some form of professionally managed account such as a target date fund, strategic allocation fund, and/or managed account service.
  • Seventy-one percent of Millennials participating in a 401(k) or similar plan find mobile apps for managing their retirement accounts to be helpful.
  • Fifty-two percent of Millennials who provided an estimate of their retirement savings needs say they “guessed” what that figure should be. Just one in 10 have used a retirement calculator or worksheet.
  • Three in five (61 percent) want some level of advice when saving and investing for retirement, yet only 32 percent who are saving actually use a professional financial advisor.
  • Two-thirds (68 percent) of Millennials are “very” or “somewhat” confident that they will be able to someday fully retire with a comfortable lifestyle.
  • Despite the confidence-shaking events of the Great Recession, Millennials’ household retirement savings dramatically increased from $9,000 in 2007 to $32,000 in 2014 (estimated medians).

7 Tips for how Millennials can save for Retirement


This study went on to present 7 ways that Millennials can save for retirement. 

Start Now!


In order to reach your retirement goals, now is the time to start saving.  Be consistent, avoid loans if possible and resist any early withdrawals from retirement accounts.  Start a budget and keep to it!

Look at retirement benefits as part of your total compensation


If you are looking for a job, consider whether an employer is providing any retirement benefits. When comparing job offers, ensure you know about all retirement benefits being offered, and if there is not a current plan, consider asking for one.

Participate in employer-sponsored retirement plans if available


If you employer does offer a sponsored retirement plan, take advantage of it!  Take full advantage of any matching contributions and put away as much as you can. 


Write down your Strategy


Calculate the retirement savings you need (this can be complicated) and write it down.  Have a well defined strategy and stick to it.  You need to plan for living expenses, healthcare needs, what government benefits you expect, and long-term health care.  Have a backup plan and re-look at your strategy periodically.

Get Educated


Education about financial planning is key.  Whether you are doing research yourself, or relying on a Financial Adviser firm like Bogetto & Associates, knowledge will help you make informed decisions. Learn about Social Security and other government benefits.

Get Help if needed


See advice from a financial professional.  Often an employer will have a company-sponsored financial adviser, but if they do not, seek out a reputable company like Bogetto & Associates.

Be Proactive


The job market is ever changing and often at a very fast pace.  Be proactive about keeping job skills up-to-date, take advantage of continuing education opportunities, and stay current on trends and marketplace needs.

Let Bogetto & Associates help you


Millennials may have entered the work force the Great Recession (2007-2009), they have been through the tragic events of 9/11, and have seen the effects of the collapse of the real estate market.  Millennials also know about rapid technological advances and developments, and are comfortable with technology.  However, many Millennials have left college with massive student debt, and may find it difficult to find any money to save.  At Bogetto & Associates, we listen and work hard with every client to find ways to work toward their financial goals.  If you are a Millennial, we are the firm to contact.  Let us help you.

Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  


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Location: St. Louis, MO 63127, USA

Friday, May 6, 2016

Understanding Social Security

At Bogetto and Associates, we understand how important retirement planning is for you and your families piece of mind.  We have several financial strategies and planning tools to help you work toward achieving your retirement goals, and social security income may be part of that strategy.  It's important to understand how Social Security works and what you can expect when you become eligible for Social Security benefits.  Here is some information directly from the Social Security Administration's website to help you understand this complex system (www.ssa.gov).



Social Security reaches almost every family, and at some point, touches the lives of nearly all Americans. Social Security helps older Americans, workers who become disabled, and families in which a spouse or parent dies.

Today, about 168 million people work and pay Social Security taxes and about 60 million people receive monthly Social Security benefits. Most beneficiaries are retirees and their families — about 42 million people. But Social Security was never meant to be the only source of income for people when they retire. Social Security replaces about 40 percent of an average wage earner’s income after retiring, and most financial advisers say retirees will need 70 percent or more of pre-retirement earnings to live comfortably. 

To have a comfortable retirement, Americans need more than Social Security. They also need private pensions, savings, and investments.  The current Social Security system works like this: when you work, you pay taxes into Social Security. Social Security then pays benefits to:

• People who already have retired; 
• People who are disabled; 
• Survivors of workers who have died
• Dependents of beneficiaries. 

The money you pay in taxes isn’t held in a personal account for you to use when you get benefits. Social Security uses your taxes to pay people who are getting benefits right now. Any unused money goes to the Social Security trust funds, not a personal account with your name on it.

Your Social Security taxes 


Social Security taxes that you and other workers pay into the system are used to pay Social Security benefits. You pay Social Security taxes based on your earnings, up to a certain amount. In 2016, that amount is $118,500. 

Where your Social Security tax dollars go 


When you work, 85 cents of every Social Security tax dollar you pay goes to a trust fund that pays monthly benefits to current retirees and their families and to surviving spouses and children of workers who have died. The other 15 cents goes to a trust fund that pays benefits to people with disabilities and their families. From these trust funds, Social Security also pays the costs of managing the Social Security programs. The entire amount of taxes you pay for Medicare goes to a trust fund that pays for some of the costs of hospital and related care of all Medicare beneficiaries. The Centers for Medicare & Medicaid Services, not the Social Security Administration, manages Medicare.


How you become eligible for Social Security 


As you work and pay taxes, you earn Social Security “credits.” In 2016, you earn one credit for each $1,260 in earnings — up to a maximum of four credits a year. The amount of money needed to earn one credit usually goes up every year. Most people need 40 credits (10 years of work) to qualify for benefits. Younger people need fewer credits to be eligible for disability benefits or for their family members to be eligible for survivors benefits when the worker dies.

Retirement benefits 


Choosing when to retire is one of the most important decisions you’ll make in your lifetime. If you choose to retire when you reach your full retirement age, you’ll receive your full benefit amount. Your benefit amount if you retire before reaching full retirement age may decrease. 

Full retirement age 


If you were born from 1943 to 1960, the age at which full retirement benefits are payable increases gradually to age 67. If your birth year is 1948 or earlier, you already are eligible for your full Social Security benefit. Here is more info on finding your full retirement age:

Year of birth is 1943 - 1954       Retirement age = 66
Year of birth is 1955                  Retirement age = 66 and 2 months
Year of birth is 1956                  Retirement age = 66 and 4 months
Year of birth is 1957                  Retirement age = 66 and 6 months
Year of birth is 1958                  Retirement age = 66 and 8 months
Year of birth is 1959                  Retirement age = 66 and 10 months
Year of birth is 1960 or later      Retirement age = 66

Delayed retirement 


If you choose to delay receiving benefits beyond your full retirement age, you will increase your benefit a certain percentage, depending on the year of your birth. Social Security will add the increase automatically each month from the time you reach full retirement age, until you start taking benefits or reach age 70, whichever comes first. For more information on delayed retirement credits, go to www.socialsecurity.gov/retire2/delayret.htm. 

Early retirement 


You may start receiving benefits as early as age 62 but Social Security will reduce your benefits if you start early. Your benefits will be reduced about one-half of 1 percent for each month you start your Social Security before your full retirement age. For example, if your full retirement age is 66, and you sign up for Social Security when you’re 62, you would only get 75 percent of your full benefit.


Can I still work and get benefits? 


You can continue to work and still receive retirement benefits. Your earnings in (or after) the month you reach full retirement age won’t reduce your Social Security benefits. In fact, working beyond full retirement age can increase your benefits. Your benefits will be reduced, however, if your earnings exceed certain limits for the months before you reach your full retirement age. 

If you work, but start receiving benefits before full retirement age, their is a deduction of $1 in benefits for each $2 in earnings you have above the annual limit. In 2016, the limit is $15,720. In the year you reach your full retirement age, your benefits will be reduced $1 for every $3 you earn over a different annual limit ($41,880 in 2016) until the month you reach full retirement age. Once you reach full retirement age, you can keep working, and your Social Security benefits will not be reduced, no matter how much you earn.

Source:  www.ssa.gov 


Contact Bogetto & Associates for your retirement planning

There is much more that you can learn about your Social Security benefits such as how your benefits will be taxed, family benefits, disability benefits, benefits for widow and widowers and much more.  If you need a trusted financial adviser to help you understand your benefits, then please contact us.  We can help explain how Social Security is just one tool for retirement and give you options to work towards your retirement financial goals...Now and for Tomorrow!

Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  

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Location: St. Louis, MO 63127, USA

Friday, April 22, 2016

Meet Peter Bogetto!



Bogetto & Associates has a talented team of financial professionals in St Louis to help you plan for your Financial Health...Now & Tomorrow.  In this week's blog, we want to feature the founder and owner of Bogetto & Associates, Peter Bogetto.

Meet Peter Bogetto


Growing up in the upper peninsula of Michigan, Peter left the beauty of the area to attend LaSalle Institute, a boarding school in Glencoe, Missouri, for his high school years. Here he met students from all over the U.S. South America, and India.

Obtaining a B.A. from St. Mary’s University in Winona, Minnesota Peter went on to teach in Minnesota and Wisconsin before deciding on a financial career. In 1974 he began his financial services career. In 1990 he opened Bogetto and Associates. Through his lifelong interest in healthy living, he believes every client should receive a plan that provides healthy financial choices.

To get to know Peter a little better, we asked him some questions about his family, hobbies, and interests:

Q & A with Peter


Q: Who is your Family?

A: I have three wonderful Children all of whom are successful in their chosen careers. Kay my oldest lives in Indianapolis with her husband Greg Stone and her two boys (my pride and joy) grandsons Jacob 11 and Benjamin 8. They visit often and I try to get to Indianapolis at least once a month. My Daughter Anne has been married to Tim Cejka for less than a year. They are both happy in their careers. I of course would like them to think about giving me another grandchild. My Son Ben is single and is taking over my business. We work together on a daily basis. By the time the weekend comes he really doesn’t want to spend any more time with me. 



Q:  Where did you go to school and how did you gain experience in financial advising?

A:   I got my undergraduate degree from St. Mary’s University in Winona, Minnesota. It included an education degree and I did teach high school students for 5 years. Following that I explored other avenues and settled on the financial industry by becoming a life insurance agent with John Hancock. I completed my financial designation degrees for the Chartered Life Underwriter degree and for the Chartered Financial Consultant degree from the American College. Financial planning and advising was a natural progression for me as it kept me before people and gave me the opportunity to use my teaching skills to establish goals and present financial plans to work towards achieving them. For me what I do has never seemed like work. I love my clients and I love what I do. 



Q:  What is your favorite sport to watch and who is your favorite sports team?

A:  I am not what you would call a sports nut. I do like watching hockey and baseball but find myself preferring to travel to Indianapolis to watch my grandchild play baseball and soccer. 

Q:  Do you have pets?  If so, what kind of pet and what is their name?

A:  I have adopted a senior pet who is 9 years old. He is Chihuahua and is a fierce guard dog and a great companion. He loves to go with me everywhere I go and follows me around the house. His name is Murphy after my first childhood dog. 



Q:  What was the last movie that you saw that you really enjoyed?

A:  I just saw BOSS with Melissa McMarthy. She is currently my favorite comedic actress and I’ve seen most of her films. I also like old movies and tv shows such as I love Lucy, The Golden Girls, and the Honeymooners. I prefer films that will make me laugh. 

Q:  Why did you go into the financial world?

A:  I like helping people work toward achieving their goals. I take every clients goals and objectives very personally and work to give the best advice that I would also give to myself. It allowed me to continue my ‘teaching’ career by teaching clients how money works. 

Q:  What do you like to do when you are not working?

A:  Cooking, going on long walks and hikes with my dog, gardening, working out, going to movies, theatre, out to dinner with family and friends. 


Q:  If you had to give advice to young people today with their finances, what would it be?

A:  Start saving and investing as early as you can. Establish a plan and stick to it. Be sure you have set aside 3 to 6 months of your take home income to help you in the event of job loss or illness. Protect your life value and earning power. 

Q:  What is the last book you read that you liked?

A:  "Sail" by James Patterson. I also like reading books by Balducci and other and other mystery writers. The books that have the most profound effect on me have been my middle eastern writers such as: "The Kite Runner" by Khaled Hosseini and "The Forty Rules of Love: A Novel" by Rumi written by Elif Shafak.

Q:  What do you like the most about helping people with their financial future?

A:   Life is never linear. Like the stock market it has its ups and downs. People who stick to their goals through good and bad times have the possibility of creating wealth for themselves. My greatest joy is seeing people successfully ease into their retirement with enough money to enjoy it.


Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  




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Location: St. Louis, MO 63127, USA

Tuesday, April 12, 2016

Protect yourself from Scams during this Tax Season

As we enter the final week of tax season, there has been an increase in phone scams as well as phishing scams from people posing as representatives of the Internal Revenue Service (IRS) and people claiming to provide "Tech Support" .  Bogetto & Associates want to pass along some info about these scam attempts and provide you with advice on how to protect yourself.

The phishing folks have changed their tactics to accusing people of tax fraud to get them to click on a malicious link in an email now.  The IRS does not initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.

In related news, the cold calling tech support scams are making a comeback after a short break.  This scam is where a person claiming to be tech support calls you out of the blue and tells you about all of these errors they are seeing and try to convince you they need access to your machine to fix them.  They will tell you to look in your event viewer to “prove” there are a bunch of errors.  Windows normally has various errors in event viewer all the time, so this seems legitimate.  Do not let anyone calling you claiming to be tech support have access to your system.  In addition, if you do a simple tech support google search, don’t call the first number you see.  If you need help, call a reputable company that you know is in your area.  BBB and Angie’s list could be helpful for this process.



The IRS warns Washington D.C, Maryland, Virginia residents of new phishing scam.

Here is an excerpt from a recent IRS news release...it discusses attempts to scam residents of the National Capital area, but we want to warn our clients of this as well.

 IR-2016-55, April 6, 2016                                                                               
WASHINGTON — As reports of phone scams as well as email phishing schemes continue across the country, the Internal Revenue Service warned taxpayers of a new phishing scam targeting Washington D.C., Maryland and Virginia residents.


This time, the email scammers are citing tax fraud and trying to trick victims into verifying “the last four digits of their social security number” by clicking on a link provided. The criminals specifically state that this is for tax filers in the District of Columbia, Maryland and Virginia. As a further attempt to trick residents of the Capital region, the email scam even suggests that information from recent data breaches across the nation may be involved.


“As we approach the final days of this filing season, we continue to see these tax scams evolve.” said IRS Commissioner John Koskinen. “We don’t send emails like this, and there’s no special effort underway for people in the District, Virginia and Maryland. As these criminals shift their tactics, the IRS remains committed to quickly warning the taxpayers who may be targeted. Taxpayers should be on the lookout for these scams.”


Last February, the IRS announced a 400 percent increase of these scams being reported when compared to the same period last year. As the email scams increase, the IRS continues its efforts to protect taxpayers, and has teamed up with state revenue departments and the tax industry to make sure taxpayers understand the dangers to their personal and financial data as part of the“Taxes. Security. Together” campaign.


In general, the IRS has added and strengthened protections in our processing systems this filing season to protect the nation's taxpayers. For this tax season, we continue to make important progress in stopping identity theft and other fraudulent refunds.


Protect Yourself


Phishing is a scam typically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential victims and prompt them to provide valuable personal and financial information. Armed with this information, a criminal can commit identity theft or financial theft.


If a taxpayer receives an unsolicited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), report it by sending it to phishing@irs.gov. Learn more by going to the Report Phishing and Online Scams page.


It is important to keep in mind that the IRS generally does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information online that can help protect taxpayers from email scams.


Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov.


Don’t be fooled by scammers. Stay safe and be informed.


Federal Trade Commission (FTC) Warning on Tech Support Scams

In addition to the IRS warning, the FTC has issued a warning about official sounding Tech Support phone calls that are actually scams. Here are the details of that article:

Official-sounding calls about an email hack


April 5, 2016
by
Andrew Johnson
Division of Consumer and Business Education, FTC


There’s a new twist on tech-support scams — you know, the one where crooks try to get access to your computer or sensitive information by offering to “fix” a computer problem that doesn’t actually exist. Lately, we’ve heard reports that people are getting calls from someone claiming to be from the Global Privacy Enforcement Network. Their claim? That your email account has been hacked and is sending fraudulent messages. They say they’ll have to take legal action against you, unless you let them fix the problem right away.

If you raise questions, the scammers turn up the pressure – but they’ve also given out phone numbers of actual Federal Trade Commission staff (who have been surprised to get calls). The scammers also have sent people to the actual website for the Global Privacy Enforcement Network. (It’s a real thing: it’s an organization that helps governments work together on cross-border privacy cooperation.)

Here are few things to remember if you get any kind of tech-support call, no matter who they say they are:
Don’t give control of your computer to anyone who calls you offering to “fix” your computer.
Never give out or confirm your financial or sensitive information to anyone who contacts you.
Getting pressure to act immediately? That’s a sure sign of a scam. Hang up.
If you have concerns, contact your security software company directly. Use contact information you know is right, not what the caller gives you.

Read on to learn more about tech-support scams and government imposter scams. And, if you spot a scam, tell the FTC.


The team at Bogetto & Associates is committed to helping you plan towards your financial future.  Falling victim to a phishing or other scam can certainly set back your progress.  If we can answer any questions about this information, please give us a call at 314-858-1602 or contact Peter Bogetto at peter@bogettoandassociates.com.



Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

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Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  



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Thursday, April 7, 2016

Bogetto & Associates...Financial Health for Now & Tomorrow

The Bogetto & Associates team is here to help you plan towards you financial health with a wide variety of investment and insurance products.  We can help your individual needs and your business financial planning needs as well.  In this latest blog post, we will give you an overview of our financial products and financial services that can help you plan for Now & Tomorrow!




Our Mission


We work to engage individuals, families and businesses on helping them to work towards achieving financial health now and in the future. Our main goal is showing clients how to work towards accumulating wealth and preparing for all the events of living. Each client is unique and there is no one plan that fits everyone. Understanding the clients past financial plans through in depth questioning will help us focus on helping them work towards achieving their goals.




Our Products to help you towards your financial future


Bogetto & Associates offers a range of financial products for you to choose from depending on your current life situation.  We are experts in how each of these products may fit your particular needs, and we can offer advice depending on your financial goals.  


  • Mutual Funds
  • Bond Funds
  • Fixed, Indexed and Variable Deferred Annuities
  • Immediate Annuities
  • Real Estate Investment Trusts
Retirement Plans
  • Individual Retirement Accounts (IRA’S)
  • Traditional IRA’s
  • Roth IRA’S
  • Simplified Employee Pension (SEP)
  • 401k
  • Roth 401k
Insurance
  • Life Insurance
  • Income Replacement
  • Long Term Care
  • Medicare Plans


Financial Services available with Bogetto & Associates


Whether you are an individual or business owner, we have financial services that can help you.  Our extensive experience is a strength and we have dealt with the ups and downs of the market.  We also listen very carefully to your needs and goals and can structure a plan to help work towards those goals. Contact us now to start your financial journey!  Here are some examples of our financial services:

Individual Services for Financial Advice
  • We are your source for financial planning, goal setting, budgeting, and coaching for retirement, wealth accumulation, investment management and risk avoidance.
Professional Services for Financial Planning
  • Team Bogetto has more than 50 years of experience in the markets. Peter started out in Financial Services in 1975. Having lived with the inevitable ups and downs of the market, he knows how to handle volatility.
Estate Planning Services
  • Net worth, income, will*, power of attorney, estate transfers and charitable giving are all part of our estate analysis. *Bogetto and Associates does not provide legal advice.
Other Financial Services
  • Education funding
  • Insurance Analysis and planning
  • Pension maximization Strategies
  • Social Security Planning
  • Long Term Care Planning
Medical Insurance
  • Medicare planning
Whether you are just starting out with your financial future, are in your middle years with children and education planning needs, or are looking toward your retirement years, our financial planners in St Louis  may have the products to help you.  Give us a call or contact us via email to start your financial planning journey!

Financial Health...For Now & Tomorrow



Contact us Today

Telephone - 314-858-1602

10805 Sunset Office Drive, Ste. 202
St Louis, MO 63127

Follow Us



Securities offered through First Heartland Capital, Inc. Member FINRA/SIPC
Bogetto Financial is not affiliated with First Heartland Capital, Inc.  

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Location: St. Louis, MO 63127, USA
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