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MFP Financial Services

Financial Classroom

Five Most Overlooked Tax Deductions

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Investing with Your Heart

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Life and Death of a Twenty Dollar Bill

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Managing An Inheritance

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Managing Money As A Couple

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Inventorying Your Possessions

Inventorying Your Possessions Only one in four in ten Americans have a home inventory, despite the fact that about one in ten homes were impacted by natural disasters in 2021.
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Important Birthdays Over 50

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Social Security: Five Facts You Need to Know

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Traditional Vs. Roth IRA

Traditional vs. Roth IRA
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Women and Financial Strategies

Women and Financial Strategies Women who share money management duties with their partner tend to take on a lions share of the responsibility for the household finances. Yet only 18% of women feel very confident in their ability to fully retire with a comfortable lifestyle.
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Retirement Seen Through Your Eyes

Retirement Seen Through Your Eyes How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider. What do you absolutely need to accomplish? If you could only get four or five things done in retirement, what would they be? Answering this question might lead you to compile a “short list” of life goals, and while th
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3 Estate Challenges for Blended Families

3 Estate Challenges for Blended Families Preparing your estate can be complicated, and if you're a part of a blended family, estate decisions can be even more complex and nuanced. Blended families take on many forms, but typically consist of couples with children from previous relationships.
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A Look at Diversification 

Ancient Chinese merchants were said to have developed a unique way to manage their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a good chance of getting through. Thus, the majority of the shipment could be saved. Your investment portfolio may benefit from that same logic. Diversification is an investment principle designed to manage risk.
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A Penny Saved is Two Pennies Earned

A Penny Saved is Two Pennies Earned
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Catch-Up Contributions

Catch-Up Contributions A recent survey found that 28% of workers are very confident about having enough money to live comfortably through their retirement years. At the same time, 27% are not confident.
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Building Your Legacy

Carve your name on hearts, not tombstones.
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Best Vacations: By Car, By Ship, By Foot, Once in a Lifetime

Travel is the only thing you buy that makes you richer.
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Are You Ready for Your Portfolio to Make a Difference?

Are You Ready for Your Portfolio to Make a Difference?
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Are You Prepared for an Estate Tax Sunset?

Are You Prepared for an Estate Tax Sunset? The federal estate tax threshold rose to $24.12 million in 2022 for married couples and $12.06 million for individuals, as part of the Tax Cuts and Jobs Act (TCJA). Like several TCJA provisions, the higher estate tax limit is due to sunset in 2025. Barring congressional action, the exemption amount will return to about $6.2 million, adjusted for inflation, in 2026. Similarly, the current 40% maximum gift and estate tax rate will increase to 45%.
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And The Executor Is...

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Budget Check Up: Tax Time Is the Right Time 

Budget Check Up: Tax Time Is the Right Time
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Taxing Story: Capital Gains and Losses

A Taxing Story: Capital Gains and Losses Chris Rock once remarked, "You don't pay taxes – they take taxes." That applies not only to income but also to capital gains. Capital gains result when an individual sells an investment for an amount greater than their purchase price. Capital gains are categorized as short-term gains (a gain realized on an asset held one year or less) or as long-term gains (a gain realized on an asset held longer than one year).
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Conquering Retirement Challenges for Women

Conquering Retirement Challenges for Women When it comes to retirement, women may face unique obstacles that can make saving for retirement more challenging. Given that women typically live longer than men, retirement money for women may need to stretch even further.
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Changing Unhealthy Behaviors

Changing Unhealthy Behaviors Most Americans know the fundamentals of good health: exercise, proper diet, sufficient sleep, regular check-ups, and no smoking or excessive alcohol. Yet, despite this knowledge, changing existing behaviors can be difficult.
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Don’t Be Your Own Worst Enemy

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Does Your Child Need to File an Income Tax Return?

As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, even if your child is declared as a dependent on your tax return.
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Do Our Biases Affect Our Financial Decisions?

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Find That Lost Retirement Account

Find That Lost Retirement Account
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Find That Lost Retirement Account

Find That Lost Retirement Account
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A House Divided

A House Divided The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult crossroads that comes when their marriage ends.1 Getting a divorce is often a painful, emotional process.
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Determining If It Makes Sense To Move Or Remodel

The housing market is surprisingly strong right now. If your family needs more space, your options include remodeling your current home, building a new one, or buying one already on the market. Each alternative has its pros and cons.
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In the Driver's Seat

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Grow Your Financial Garden

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Does Your Portfolio Reflect Your Risk Tolerance?

When it comes to investing, many people associate risk with losing money. But investing entails different types of risk. Understanding each type -- and the potential return associated with your retirement portfolio
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Common Retirement Investment Mistakes

Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.
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OFFICE RELOCATION

After careful thought and planning, we are happy to announce that we have moved our office to a new location in downtown Safety Harbor beginning September 15th.Our new address is 335 9th Ave. S., Safety Harbor FL 34695Our address may be changing; however, we remain dedicated to providing the same personalized financial guidance to address your unique needs. We welcome you to stop by our new office or contact us at our same phone number (727) 443-3300.We look forward to continuing to serve y
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Beyond Retirement: Consider Your Other Goals

When it comes to financial stability, people tend to focus on paying off debt and saving for retirement.
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Saving money when planning a trip—the dos, the don’ts.

Saving money when planning a trip
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Breaking Down The Real Costs of Purchasing a Home

Home ownership has several advantages over renting, including lower monthly payments, deductible mortgage interest, and the accumulation of equity. But there is a definite price to pay for these benefits, including the expenses we detail here. The biggest spend is your initial equity. There are two costs that constitute the beginning equity in your home. The first is earnest money, typically $500 to $2,000 that ensures your commitment to the deal. You can get a refund if the deal fal
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INDEFINITELY WORKING FROM HOME? USE THIS OPPORTUNITY TO SAVE MONEY

Your savings might not stem from tax breaks, but rather from other financial benefits. You won't be spending money on commuting, restaurant lunches, after-work happy hours, etc. Now is a great time to update your budget and financial plans
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CHRIS MAVRAKOS HONORED AS ONE OF LPL FINANCIAL’S TOP FINANCIAL ADVISORS

CHRIS MAVRAKOS HONORED AS ONE OF LPL FINANCIAL’S TOP FINANCIAL ADVISORS    Dunedin, FL— June 16th, 2020    Chris Mavrakos , an independent LPL Financial advisor at MFP Financial Services in Florida, today announced inclusion in LPL’s Chairman’s Club. This elite award is presented to less than 5% of the firm’s more than 16,000 financial advisors nationwide*.    “I’m proud to congratulate Chris Mavrakos on behalf of LPL,&rdqu
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How To Let Your Money Work For You, Not The Other Way Around

Follow these three examples to see, in real world examples, how saving earlier can be make an astronomical difference at retirement.
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You've Left Your Employer...Now What?

You've Left Your Employer...Now What? Here's a list of the options most people choose between when dealing with an old 401(k)
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The Power of Dividends

Learn what dividends are, and why they're so important in planning for retirement income.
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