Christopher T. Cannon, M.S., CFP®, AIF® is a Wealth Management Advisor with RetireRight Pittsburgh. Chris’ role at RetireRight Pittsburgh is to focus on the Individual Wealth Management and Financial Planning aspect of the firm. He is dedicated to comprehensive financial planning and enjoys working closely with individuals to help them work toward their financial goals through investment recommendations, retirement analysis, insurance strategies, estate planning, and tax planning. Chris is committed to providing the highest level of service to every client.
Chris is a graduate of Washington and Jefferson College with a B.A. in Accounting. Chris also has a Master’s degree in Security Analysis and Portfolio Management from The Heider College of Business at Creighton University.
Chris is a CERTIFIED FINANCIAL PLANNER™ practitioner, Accredited Investment Fiduciary® designee, an LPL Investment Advisor Representative, an LPL Registered Representative, and a Licensed Agent for Life, Accident and Health Insurance.
Prior to joining RetireRight Pittsburgh, Chris spent the previous 8 years providing investment and financial planning advice to high net worth clientele while working at The Vanguard Group, PNC Investments, and an Independent firm that focused on Marcellus/Utica Shale landowners.
In his free time, Chris enjoys playing basketball, physically challenging himself, and spending time with his family. Chris is an active Rotarian and a Paul Harris Fellow. He is also a member of the Pittsburgh Financial Planning Association's Pro Bono committee. Chris, his wife Kristen and their son Lawson, reside in Mt. Lebanon, PA.
BA, Accounting, Washington & Jefferson College
MS, Security Analysis & Portfolio Management, Creighton University
Assets Under Management:
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Potentially, depending on how much income you receive and your filing status.
If you file a federal tax return as an “individual” and your combined income is between $25,000 & $34,000, you may have to pay income on up to 50% of your benefits. If your combined income is more than $34,000, up to 85% of your benefits may be taxable.
If you file a joint federal tax return, and you and your spouse have a combined income that is between $32,000 and $44,000, you may have to pay income tax on up to 50% of your benefits. If your combined income is more than $44,000, up to 85% of your benefits may be taxable.
Combined income is defined as: Your adjusted gross income + nontaxable interest (municipal bonds) + ½ of your Social Security benefits. These are the figures for 2016.
I’d encourage you to check out the Social Security’s website regarding income taxes and your benefits or seek counsel from a CPA that is familiar with your personal income situation.
If both cards have the same balance and interest rate it's really a moot point. When working with debt repayment and consolidation I always recommend my clients work to win the small battles first (i.e. pay the minimum on one then work on paying the other off as fast as you can). This helps tremendously from a psychological aspect when your gaining ground instead of treading water.
Now a better plan might be to consider using a balance transfer to a 0% card. There are a few options out there that will offer you 0% for 12 months with a 3% up front fee (there are might even be some better deals than this). Taking this path would only cost you $300 in fees instead of $1,030 in interest. This will also take your repayment term down from 12 months to 11 months.
Here's a blog posting on the best balance transfer cards available: https://www.nerdwallet.com/blog/top-credit-cards/nerdwallets-best-balance-transfer-credit-cards/