Wood Financial Services LLC

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Worrying about Grandma, aka the value (and limitations) of secondary data

On May 19, 2020, Posted by , In COVID-19,Family,Know thyself, By ,, , With Comments Off on Worrying about Grandma, aka the value (and limitations) of secondary data

My nonagenarian Grandma lives in Midland, MI. Home of the current floods that are making the news. I didn’t find out about the floods until too late at night to be making phone calls. And I love my Grandma, I would have a really hard time going to sleep if…

COVID-19 triggered mid-year benefits changes

On May 13, 2020, Posted by , In Benefits,COVID-19,Taxes, By ,, , With Comments Off on COVID-19 triggered mid-year benefits changes

One of the common questions I’ve been hearing lately is “I planned for XXX expensive, semi-elective surgery this year. Due to COVID-19 that surgery can no longer be done in 2020.” Or “I planned for XXX expensive, semi-elective surgery this year. Due to COVID-19 I can’t have that surgery right…

April showers bring May …. 457b enrollment

On May 2, 2020, Posted by , In Benefits,COVID-19,FAFSA,Open enrollment,Social Security, By ,,,, , With Comments Off on April showers bring May …. 457b enrollment

Welcome to May! I am a big fan of flowers, so I love May Day. But besides flowers, if you work for a non-profit whose 457b cycle is on the half-year, then May Day also brings the start of a special benefit open enrollment period for highly compensated employees. Wait…

Unemployment and Social Security

On May 1, 2020, Posted by , In Benefits,COVID-19,Social Security, By ,, , With Comments Off on Unemployment and Social Security

The question I was asked today was about someone who was furloughed, and age 65. They were told to apply for Social Security when they applied for their unemployment benefits. Questions were whether this was a good idea in general, whether it could be made a good idea by taking…

Ears Off

On April 25, 2020, Posted by , In COVID-19,Know thyself, By , , With Comments Off on Ears Off

I was having a conversation a couple days ago with some other people in the profession, and we were talking about the challenges of working from home. Several had been working from home since long before COVID19 hit, but they were talking about how working with others was changing with…

Download your own free, no strings attached, COVID19 Symptom Tracker

On April 25, 2020, Posted by , In COVID-19,Spreadsheets, By , , With Comments Off on Download your own free, no strings attached, COVID19 Symptom Tracker

I hope everyone is feeling well. Some people in my house are not (not that I think we necessarily have THE DISEASE, but several of us definitely are off-kilter). Being the data person I am, and knowing how much a good medical history can aid in making good medical decisions…

Should I do a Roth conversion now?

On April 15, 2020, Posted by , In COVID-19,Taxes, By , , With Comments Off on Should I do a Roth conversion now?

Roth conversions were the question on the table during a discussion I had recently. With the markets down, someone who had been contributing to a traditional IRA wanted to know if they should do Roth conversions during the current financial mess accompanying the COVID-19 pandemic. Roth conversions are all about…

Where is my stimulus check?

On April 15, 2020, Posted by , In COVID-19,Taxes, By , , With Comments Off on Where is my stimulus check?

For those who desperately need their CARES Act stimulus check [1, 2], waiting for it is painful. And not even knowing if the IRS has all the information it needs for sending that money to you is even more of a black box. The IRS has set up a website…

Listening, with and without context

On April 13, 2020, Posted by , In COVID-19, By , With Comments Off on Listening, with and without context

Much of America just celebrated a big family holiday, Easter. When we’re not in the throes of a pandemic, for my family it involves sitting around multiple large and small tables (50 would be a normal number of people for holidays, due to the size of extended family on my…

Unemployment Insurance during COVID-19

On April 13, 2020, Posted by , In Benefits,COVID-19,Taxes, By ,, , With Comments Off on Unemployment Insurance during COVID-19

Involuntary furloughs are coming. As we start talking today about one of our country’s social protection systems, unemployment insurance, let me lead with 3 very important points. First, unemployment insurance varies GREATLY by state, there is no national standard. Second, if you don’t qualify for unemployment by your state’s standards,…