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Posts by Ben Hockema

5 Things to Do When Receiving an Inheritance

You’ve just received a sizable inheritance. Now what? Whether or not you were expecting to inherit a large sum of money, it can still be a bit of a jarring experience. In fact, many new clients who reach out to me get in touch because they’ve received an inheritance, and aren’t really sure what to…

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Navigating Spending in Your Relationship

At Deerfield, we help our clients build comprehensive financial plans. That doesn’t just mean we help you plan for your investments, or create a savings strategy. We focus on more than just the dollars and cents of your plan because your financial life is impacted by so much bigger than just your finances! One way…

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Charitable Giving and the New Tax Code: A Skeptic’s Perspective

With the new tax code in place, the standard deduction has increased across the board: Individuals: $12,200 Heads of household: $18,350 Married couples filing jointly, or surviving spouses: $24,400 As a result, most people – whether they’re married or not – are planning to take the standard deduction next filing season. When you take the…

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4 Rules to Follow When Moving to a New City

Recently, I’ve had several clients all embark on out-of-state moves with their families. Moving is a really stressful life decision. The last thing you want to do when you tackle a move to a new city, or even a new state, is to add extra stress (financial or otherwise) to your life. I’ve guided several…

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The Psychology of Debt Repayment

I want you to have the most success possible as you get started paying down your debt, so let’s dive in and take a look at how people tend to approach debt – and how that fits into your financial plan.

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Debt Avalanche or Snowball

Debt Snowball or Avalanche: Which is Right For You?

If you’re staring down a mountain of student loan debt, you’ve likely heard of two different repayment strategies: The debt “snowball.” The debt “avalanche.” The debt snowball repayment strategy means that you start by repaying your smallest debt first. This could be a low-balance credit card, your smallest student loan – basically, whatever debt you…

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Avoiding Budget-Busters in the New Year

With every new year, I see a huge number of people committing to live a better financial life. If that sounds like you – there’s one clear place to start: with a budget. There are thousands of different ways to budget effectively, and the truth is that they all work to some extent. Different budgeting…

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Contribute Now, Save Later: Taxes and Your 401(k)

Most people are aware that their 401(k) is an excellent tool for retirement savings. In fact, Americans with access to a 401(k) plan are making contributions across the board – 52% of millennials, 75% of Gen X, and 80% of baby boomers contribute regularly. The majority of people who contribute on a regular basis are…

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Are You Saving Money During Benefits Enrollment?

People often view open enrollment season at their office as a time where they need to check a box that basically ensures that they continue to get the coverage they’ve always had. People are creatures of habit, and the idea of reviewing your coverage and making changes can be both overwhelming and unsettling. Not to…

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