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Published Articles
WILL YOU BE SATISFIED WITH A 529 PLAN? (MAY 29, 2013)

Jon Ten Haagen consults on what to consider when weighing the options of a 529 plan for your savings.

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FINANCIAL PLANNERS FURTHER INNOVATE ON SOCIAL MEDIA (MAY 17, 2013)

Jon Ten Haagen discusses how he has spearheaded a multifaceted approach incorporating social media with mainstream media.

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ON THE AIR WITH KAREN DEMASTERS (JUNE 1, 2012)

Jon Ten Haagen discusses his television appearances and his role as a retirement income specialist.

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FINANCIAL ADVISOR MAGAZINE, ON THE AIR: ADVISORS TAKE TO ONLINE VIDEOS TO MAKE THEIR CASE. (JUNE 2012)

Jon Ten Haagen talks about how he uses online resources to provide educational information about managing your finances.

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SUCCESSION PLANNING (JUNE 2012)

Jon Ten Haagen discusses options for Succession Planning.

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LONG ISLAND ANALYST: STAY AWAY FROM FACEBOOK (MAY 18, 2012)

Jon Ten Haagen weighs in on the initial public offering of Facebook stock.

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EMPLOYERS TURNING TO TARGET-DATE FUNDS TO REDUCE RISK IN 401(K)S (MARCH 16, 2012)

Jon Ten Haagen discusses his opinion and cautions on 401K investments.

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A NEW WAY TO GET A RADIO CHECK (JUNE 8, 2011)

For years boaters have keyed their VHF on their home club’s working channel or gone to channel #09 or #16 which is the US Coast Guard’s hailing and distress channel to see if their radio is working properly. This usually leads to a friendly reminder from the Coast Guard that the checks are improper use of this channel. There is a new way so that you do not clutter the Coast Guard’s working channel.

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CHARITY BEGINS AT HOME (JUNE 8, 2011)

In philanthropy, giving until it hurts can take a truly painful meaning. Bitter tax bites for the benefactor and beneficiary and times when donations go mostly to organizational expenses instead of the actual cause are true risks. But proper planning can help donors avoid unanticipated and often unpleasant financial hurdles, while maximizing the personal benefits of ...

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THE BENEFITS OF MOVING TO THE CONSULTATIVE APPROACH—AND HOW TO DO IT RIGHT (APRIL 2011)

In late 2008, many advisors watched as the market crashed and clients left in droves. Jason Cowans, on the other hand, lost not a single account.

Why? In 2005, after completing stints at several warehouses, Cowans had started his own practice, merging it two years later with two others to form Highland Advisory Group, a boutique firm located in Chandler, Ariz. As a result, instead of mostly trying to sell products, he now provided fee-based financial planning services to clients with whom he had deep relationships. "I don’t lose people if there's bad performance in the market," he says. "They know I'm with them for the long-term."

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TARGET-DATE FUND PROS AND CONS (2010)

Your 401(k) plan options probably include at least one target-date fund. Some financial planners tout these funds as a way to keep your portfolio appropriately allocated throughout your working career all the way to retirement. But others think they're a disaster. Who’s right?

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TOWN ASKS COUNTY TO DREDGE NORTHPORT HARBOR (FEBRUARY 12, 2009)

Last month the town requested a maintenance dredging operation in Northport Harbor from Suffolk County.

The project was instigated early last year by the Greater Huntington Council of Yacht & Boating Clubs. The group represents 20 local boating clubs and organizations and one of its core issues is promoting boating safety.

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RETIREMENT RULES: LONGEVITY COSTS MORE THAN YOU THINK (JANUARY 21, 2009)

These days many workers 55 and older have no realistic financial plan as they approach their retirement. Often they fail to calculate in advance what they’ll need for retirement and do not think about how they will budget when they’re no longer earning a regular salary. Some may retire too soon with insufficient funds. Others might tap resources such as 401(k) accounts or Social Security much too early.

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WHAT THE NEW 401(K) RULES COULD MEAN FOR YOU (JANUARY 5, 2009)

However you slice it, the 401(k) is the most popular retirement plan in the country.

So how can it be that no rules anywhere explicitly spell out what employers need to offer their 401(k) participants so they’ll understand what products and services they’re getting and what fees are being charged?

That is about to change—and fast.

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WEATHERING THE STORM (OCTOBER 1, 2008)

These days, mall business clients are suffering in two ways. After pouring blood, sweat and tears into their enterprises for decades, they’re worrying about shrinking revenues and finding enough operating capital to survive this tough economic climate.

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REP. ISRAEL AND L.I. PARENTS ANNOUNCE NEW LEGISLATION TO MAKE COLLEGE AFFORDABLE (AUGUST 6, 2008)

Bethpage, NY— Thursday, U.S. Rep. Steve Israel (D-NY) joined college students and their parents to announce new legislation to ease the burden of rising college costs.

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TIME FOR A MID-YEAR FINANCIAL CHECKUP (JUNE 2007)

You did what you were supposed to do financially at the start of the year. You established or reviewed your financial plan to be sure its goals and strategies were still appropriate, rebalanced your investment portfolio, made sure your estate plan was in place, checked your insurance coverage, and so on. Now it’s time to give yourself a round of applause.

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WHAT IS THE REAL REASON YOU SHOULD INVEST? (MAY 2007)

Most people think they know the answer to the above question of why should they invest. Yet, all too often, many people invest for the wrong reasons — and that can lead to financial difficulties.

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NEW PENSION PROTECTION ACT OF 2006: PROMOTES SAVINGS, PROTECTS PENSIONS (FEBRUARY 2007)

It’s been described as the most sweeping pension legislation in more than three decades. The new Pension Protection Act of 2006 (signed into law by President Bush on August 17), includes provisions designed to strengthen traditional pension plans that now represent some 44 million American workers and retirees.

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THE IMPORTANCE OF A FINANCIAL CHECKUP

It’s one of the six steps of the financial planning process. But, oftentimes, it’s the one step that gets overlooked. It’s the sixth step - annual financial check-up

The annual financial check-up is indeed the most important of the financial planning steps. And yet, financial planners and clients sometimes downplay its significance.

What is the annual review and why is it so important? In short, the annual review is the opportunity to measure a client’s progress against their plan of action. It’s also the one time when planners and clients can examine the many changes that typically occur in any given 12-month period - the birth of a child, the death of a loved one, the loss of a job, a major purchase - and then readjust the client’s financial plan, charting a new course if need be or further affirming the client’s progress towards their personal financial goal achievement.

Indeed, lives are seldom static and that’s why financial plans are not necessarily set-and-forget documents. But what exactly should financial planners and clients examine in their annual meetings? And when should they conduct their annual meetings?

Typically, financial planners will collect a client’s data, prioritize their goals, examine their resources, make recommendations, and implement a plan as part of the financial planning process. In an annual review, the financial planner will do much of the same and then some. They will first typically examine a client’s progress against the plan time frames. This sort of monitoring benefits both planners and their clients. Clients get an opportunity to step back from their busy lives and review their goals and confirm that their priorities remain the same. Planners have a chance to reconnect with their clients to affirm their positive actions towards goal achievement or to help refocus them so that they don’t get too far off track. And planners get a chance to enhance the relationship and trust.

In some cases, planners and clients will want to establish a regular appointment, meeting on an annual basis, and in some cases on a quarterly or semi-annual basis. Typically, the planner and client will review in these meetings short-term goals, examining what if anything may have changed. In some cases, the planner will make changes to a client’s investment portfolio in light of tactical or strategic asset allocation models in place. In other cases, a planner will suggest changes based on certain life events. The birth of a child or grandchild may require a discussion about 529 plans. A divorce may require changing beneficiary designations on retirement accounts and life insurance policies.

In addition a planner may want to review with their clients new research that has become available in the interim to either confirm rationale or provide a basis to alter a client’s short-term or long-term strategies. For instance, new research that shows the escalating costs of nursing homes or health care in retirement wouldn’t change the goal of "secure long-term retirement", but it would change the strategy to achieve that goal.

Besides reviewing family developments, planners would also address in an annual review regulatory and other changes that could effect adversely or positively a client’s financial plan. The new Medicare Part D plan or the introduction of the ROTH 401(k) could prove useful to some clients. In other cases, the annual review is a chance to review potential changes - changes in the federal estate tax laws, for instance, and to devise possible plans of action.

Planners and clients will often want to measure the "performance" of the investment portfolio as part of the annual review. Typically, performance should be measured against several benchmarks, the most important of which is the client’s own personal goals. For instance, if the planner and the client established that a portfolio should grow by 5 percent per year before taxes then the performance should be measured against that yardstick. To be sure, it’s important that portfolios be measured against standard benchmarks. But only as a point of reference. Meeting personal investment goals is far more important than over performing or under-performing the Dow Jones industrial average. By and large, it's imprudent of planners and clients to make wholesale changes to a portfolio based solely on a quarter as well as one year of performance.

In summary, annual reviews provide a chance for planners to examine a client’s long-term goals. These reviews can establish whether the client is generally on course to meet their goals. It’s also a chance to review changes that have occurred and begin to anticipate changes that may occur. It’s a chance to implement any new plan of action that has been developed in light of changing goals or changing performance. And then last, the annual review provides the perfect opportunity to establish future review meetings.

One of the most important worksheets to review is a balance sheet or net worth statement. If reaching all of the client’s goals will require a net worth of $1 million at some point in the future, it is the balance sheet that will demonstrate movement toward or away from that goal. It is a road map. When going out of town, a map is almost always consulted before and during the trip. Progress toward your ultimate destination is noted by each passing town or landmark. It is easy to see when you move off track and what corrections should be made to get you back on the correct path in the least amount of time or distance. The balance sheet measures your progress toward your monetary goal in a finite manner. What the numbers show from year-to-year are not as important as what they show after several years looked at as a whole.

*All Investing involves risk including the potential loss of principal. There is no guarantee that a diversified portfolio will outperform a non-diversified portfolio in any given market environment. No investment strategy, such as asset allocation, can guarantee a profit or protect against loss in periods of declining values. Please note that individual situations can vary.  Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.

In general, the bond market is volatile as prices rise when interest rates fall and vice versa. This effect is usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. Every state offers at least one 529 plan. Before buying a 529 plan, you should inquire about the particular plan and its fees and expenses. You should also consider that certain states offer tax benefits and fee savings to in-state residents. Whether a state tax deduction and/or application fee savings are available depends on your state of residence. For tax advice, consult your tax professional.  Non-qualifying distribution earnings are taxable and subject to a 10% tax penalty.

 *Dated material presented here are available for historical and archival purposes only and do not represent the current market environment.  Dated material should not be used to make investment decisions or be construed directly or indirectly, as an offer to buy or sell any securities mentioned. Past performance cannot guarantee future results.  

 *The hyperlinks included are provided as a convenience and are for informational purposes only and are not part of Royal Alliance Associates, Inc., The link to outside web sites does not mean that Royal Alliance Associates, Inc., endorses or accepts any responsibility for the content or use of the web site. Royal Alliance Associates, Inc., does not guarantee the sequence, accuracy or completeness of the data or other information appearing on the linked pages. The company assumes no liability for any inaccuracies, errors or omissions in or from any data or other information provided on the pages, or for any actions taken in reliance on any such data or information.

 *Although information has been gathered from sources believed to be reliable, it cannot be guaranteed. All views expressed within any hyperlinks may not reflect the views of Royal Alliance Associates Inc

Mr. Ten Haagen offers securities and advisory services through Royal Alliance Associates, Inc. member FINRA SIPC a registered broker dealer and investment advisor.
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Jon Ten Haagen is an Investment Advisor Representative offering securities and advisory services offered through Royal Alliance Associates, Inc., member FINRA/SIPC and a registered investment advisor. Ten Haagen Financial Group is not affiliated with Royal Alliance Associates, Inc. or registered as a broker dealer or investment advisor.

Dated material presented here is available for historical and archival purposes only and may not represent the current market environment.  Dated material should not be used to make investment decisions or be construed directly or indirectly, as an offer to buy or sell any securities mentioned. Past performance cannot guarantee future results.



This communication is strictly intended for individuals residing in the state(s) of CA, CT, FL, IL, ME, MN, NV, NJ, NY and NC. No offers may be made or accepted from any resident outside the specific states referenced.
 


Check the background of this financial professional on FINRA's BrokerCheck.