You need to go beyond the voices, and listen to reason that may calm the panic, refute passivity and debunk so-called secret formulas. Continue Reading The 3 Wall Street Voices and 9 Myths – Part II
Wall Street has three voices it wants you to listen to and nine myths it wants you to believe. They are designed to allow “The Street” to keep making money from you. Exposing them will help you be a better investor. Continue Reading The 3 Wall Street Voices and 9 Myths – Part I
In February 2022, the IRS issued proposed regulations (generally applicable starting in 2022) that interpret the revised required minimum distribution (RMD) rules. Unless these proposals are amended, some beneficiaries could be subject to annual required distributions as well as a full distribution at the end of a 10-year period Continue Reading Required Distributions: Changes You Need to Know
529 College Savings plans are essential for saving for higher education expenses, and if used for education, accumulate tax-free. Continue Reading 529 College Savings Plans: For Education and Estate Planning
Market volatility could spook even the most seasoned investor. If a precipitous week or two in the market has you ready to sell, you may want to reconsider your risk tolerance and asset allocation. Attempting to time the market by selling during a drop could often mean missing the prime point of re-entry—selling low and buying high or selling low and failing to buy at all. What should investors consider when navigating market volatility? Continue Reading Navigating Market Volatility–or Not
After dropping the benchmark federal funds rate to a rock-bottom range of 0%–0.25% early in the pandemic, the Federal Open Market Committee has begun raising the rate toward more typical historical levels in response to high inflation. Continue Reading Managing Bond Risks When Interest Rates Rise
The rules pertaining to Individual Retirement Account (IRA) beneficiaries can be complicated. Here is a quick look at the limitations the Internal Revenue Service (IRS) places on the beneficiaries of IRAs. Continue Reading Inherited IRAs: What You Should Know
It’s important to take a long, hard look at your current savings strategy to ensure you’ll be able to compensate for this, or any other, retirement income shortfall. Continue Reading If Social Security Falls Short – Have a Plan
Buy on Fear, Sell on Greed? Legendary investor Warren Buffet is a big proponent of this strategy. When others are greedy—typically when prices are boiling over—assets may be overpriced. On the flipside, there may be good buying opportunities when others are fearful. Continue Reading Black Swans: Short-Term Crisis, Long-Term Opportunity
For business owners, estate planning may seem like another task to do on a long to-do list. Having a solid estate and succession plan in place may be crucial to your business’s long-term success. If you are incapable of making business decisions, or if you unexpectedly pass away without an estate plan, your heirs may… Continue Reading 3 Estate Planning Tips for Small-Business Owners
Working in medicine may be challenging, especially with the strain placed on health care professionals throughout the COVID-19 pandemic. Working towards a comfortable early retirement may be a financial goal for some physicians. Here are some suggestions that doctors may use to manage financial independence. Investigate Qualified Retirement Plans Physicians are often subject to complex… Continue Reading A Guide to Retirement Planning for Doctors
Planning on working during retirement? If so, you’re not alone. An increasing number of employees nearing retirement plan to work at least some period of time during their retirement years. Why work during retirement? Obviously, if you work during retirement, you’ll be earning money and relying less on your retirement savings — leaving more to… Continue Reading Working During Retirement
Every year, there are taxpayers that underpay their taxes. It just happens. But if you do that, no matter how innocent your underpayment might have been, you can be subject to penalties. The IRS issued a statement to help those who underpay to avoid penalties. From the IRS: “Taxpayers who paid too little tax during… Continue Reading What to Do if You Underpay Your Taxes
Many workers have been dreaming of retirement since they first entered the workforce. However, once this retirement date draws near, the prospect of giving up your primary source of income may be nerve-wracking, even if you’ve diligently saved and planned. Below, we discuss a few steps you may wish to take to potentially make this… Continue Reading Everything Older Workers Need to Know About Retiring
You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people, you may be torn between paying off debt and the need to save for retirement.… Continue Reading Pay Down Debt or Save for Retirement?
Looking for longer-term market trends that might shape the next few years Let’s be honest for a second: the DJIA, the S&P 500, NASDAQ, and the Russell 2000 all delivered one of the most surprising years in recent history. And while many are happy to see 2021 in the rear-view mirror, the 2021 performance for… Continue Reading What Can the Best/Worst Stocks of 2021 Tell Us?
Know what to do if you inherit an IRA from a spouse or someone else As we get older, it is likely that we might inherit an IRA from mom or dad – or we need to counsel mom or dad as they inherit an IRA after one of them dies. The rules are different… Continue Reading IRA Beneficiary Rules Directly From the IRS
When you hear the term identity theft, the first thought that comes to mind may involve a data breach or opening a credit card in someone else’s name. But another common type of identity theft involves the use of someone’s Social Security number to unlawfully intercept their income tax refund. Unfortunately, this fraud often isn’t… Continue Reading How to Recognize and Protect Yourself Against Tax Identity Theft
Regardless of whether you prepare your taxes yourself or use a professional’s services, it’s a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we’ve listed some key information you need when preparing this year’s taxes. Your Personal Information The personal information you may… Continue Reading Tax Prep Checklist: Everything You Need to Be Ready for Tax Season
Your long-term retirement strategies must account for inflation – or else You hear it all the time: you should make sure your retirement savings at least keep pace with inflation. But what is inflation and how does it really affect your retirement savings? Let’s explore. Inflation is defined as an increase in the general level… Continue Reading Inflation: The Not-So-Silent Retirement Killer
The first step to improving your finances is to get organized. These top Amazon finds can help you create a monthly budget, plan your spending, and safely store your important insurance or personal documents for easy access when you’re at home or on the go. On your desk It’s important to sit down and budget,… Continue Reading The Best Items to Help You Organize Your Finances and Important Documents
Getting ready for retirement is both exciting and daunting. While you are likely looking forward to the enjoyment and relaxation that retirement may bring, you are also cautious about ensuring you have enough money to be able to retire in the comfort you anticipate. If your retirement years are on the horizon, below are a… Continue Reading Five New Year’s Resolutions for Those Nearing Retirement
Responsible investing is widely understood as the integration of environmental, social and governance factors – hence the ESG acronym – into investment processes and decision-making. ESG factors cover a wide spectrum of issues that traditionally are not part of financial analysis, yet may have financial relevance for investors. ESG factors might include how corporations respond… Continue Reading Remarkable Rise Of ESG Investing
Winter weather usually has everyone hiding indoors— anxiously waiting for the spring to start the home buying and selling process. If you are interested in buying or selling a home, don’t wait! There are plenty of advantages to buying and selling during the winter season. Less competition Many people wait until warmer months to come… Continue Reading Why to Buy and Sell a Home in the Winter
With the holidays here, now is the time to get into the giving spirit and help to change others’ lives for the better. Whether you are looking to make a difference in a specific person’s life or the life of many, there are many ways to give this holiday season. Here are some different ways… Continue Reading A Season of Giving: 5 Different Ways To Give During the Holidays
Although you don’t have to wait until January to begin working on your financial goals, a new year may bring a much-needed fresh start on your spending and saving goals. Read on for three financial moves you may want to consider before ringing in the New Year. Open a Health Savings Account (HSA) If you… Continue Reading 3 Financial Moves to Consider Before Ringing in the New Year
For some, 2021 has flown by—and as we approach the last quarter of the year, it’s a good time to begin planning for the next one. Year-end planning is especially important for retirees and those hoping to retire in 2021 or 2022. There are tax and income strategies you might consider regarding your financial assets.… Continue Reading 2021 Year-End Planning for Retirees
American Express created Small Business Saturday in 2010 to provide small businesses with a holiday season boost on the heels of Black Friday. The day comes after one of the biggest shopping sales events and serves as a reminder to spend some of your holiday funds with local shops. Those shops may on your support… Continue Reading Carving Out Time to Support Small Business Saturday
An entrepreneur may be eager to take advantage of every available business opportunity. However, in order to prepare for retirement, the entrepreneur might be searching for potential options that suit their unique situation. Many small businesses offer retirement benefits through Simplified Employee Pension (SEP) plans and Savings Incentive Match Plans for Employees (SIMPLEs). These vehicles… Continue Reading Solo Opportunities: One-Person 401(k)s
Many people are familiar with the scammers who promise to pay millions of dollars in exchange for briefly holding funds in your bank account or those who offer to enhance certain body parts risk-free. Today’s scammers are clever at making their offers seem legitimate. How can you spot scams before they happen? We discuss the… Continue Reading Can You Spot the Scam? Common Financial Fraud Warning Signs
Today, many individuals are finding it necessary to help elderly parents or relatives manage their personal finances. One area of particular concern is property management. This issue may arise when seniors reach their late seventies or older, and plans that may have proven satisfactory at age 65 may require a second look. If you have… Continue Reading Helping Elders Manage Their Assets
It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is tax planning, which can be done “later.” They may well be wrong… Continue Reading Understanding the Estate Planning Process
According to statistics from the National Association of Realtors (NAR), real estate is the second most targeted industry for cyber-attacks. The FBI reported almost $150 million in real-estate-related fraud in 2018, with scams aimed at the industry rising more than 1,000 percent since 2015. Because of the sheer size of the real estate landscape, the… Continue Reading Real Estate Cyber-Security and Fraud Prevention
Protection for All Life’s Stages As your life changes, your financial needs often change, as well. Regardless of whether you are just starting out in life, are in mid-career, or are at the peak of your earning years, life insurance can help you achieve a variety of financial goals. The following scenarios help illustrate some… Continue Reading Life Insurance
Losing one’s significant other is one of the most stressful of all possible losses, even if you’ve had some time to emotionally prepare for it. And while it can be tough to do more than put one foot in front of the other, losing a spouse can also bring financial changes into your life. Below,… Continue Reading Coping with the Loss of a Spouse Checklist
Suppose, during the middle of the workday, you receive an urgent phone call. It is the local hospital informing you that your elderly, widowed father has been the victim of a serious car accident and lies unconscious in the emergency room. When you arrive at the hospital, you are asked, among other information, for the… Continue Reading Grant Peace of Mind with a Financial Inventory
The death of a spouse is one of the most traumatic experiences a person can endure.1 Adding financial stresses at such a delicate time can only make matters worse—and your emotional recovery harder. Learn more about what to keep in mind while navigating your financial future as a widow or widower. Don’t Make Major Changes Right… Continue Reading Investing After the Death of a Spouse
In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement preparations do vary a bit by age group. Retirement Preparations Nearly three-quarters (72%) of workers say that they or their spouse… Continue Reading How Are Workers Preparing for Retirement?
In a survey by job listings site Flexjobs, an astonishing 65 percent of pandemic remote workers said they wanted to keep working from home and 58 percent even said they would look for a new job if they would have to return to the office. Only 2 percent said they would prefer to return, while… Continue Reading Workers Want to Stay Put in Home Office
Your financial professional can help ensure you leave your estate in the best possible way Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior far from the hopes and plans of the benefactor. What happens when you leave what’s… Continue Reading Inheritance Planning Can Help Avoid Headaches
Getting married can be one of the most momentous occasions in one’s life—and, for many, having two people working toward a common financial goal can also be the key to helping secure your financial future. If you and your spouse are on the same page when it comes to investing, you’re already a step ahead… Continue Reading What to Know About Investing After Marriage
Gifting, for many investors, is about the philanthropic support they want to give charities. Gifting to help make the world better by benefitting society is one reason many families choose to donate. The charitable giving tax deduction they received in the past was a bonus. The above-the-line deduction for charitable giving is $300 per calendar… Continue Reading Donor-Advised Funds: A Solution to Gifting with Tax Benefits
High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey. Often, they have missed opportunities in their financial planning because they haven’t planned adequately for their retirement even though they make a high income. It’s easy to think that everything will work out with their retirement plan,… Continue Reading High Net-Worth Individuals: Are You Missing Opportunities in Your Financial Planning?
The start of summer brings aspirations of owning that special spot Summer is here and with it are fanciful dreams of owning a second, seasonal home. Maybe it’s a beachside bungalow or a mountain cabin or a lakefront cottage with a front porch and a sweeping view of the sunlight on the water. All of… Continue Reading Dreaming of Owning a Second Home?
Section 529 plans are popular education savings vehicles. To choose the type of 529 plan that’s right for you, it’s important to understand how 529 savings plans and 529 prepaid tuition plans work and the differences between them. Who can offer each type of plan? At one time, only states could offer 529 savings plans… Continue Reading 529 Savings Plans vs. Prepaid Tuition Plans
Small business owners are different from the average hourly employee in a lot of ways. One often-overlooked difference is how they plan for retirement. Although small business owners may offer a classic 401(k) for their workers along with other benefits such as insurance and other perks, such a plan may not be the right option… Continue Reading 5 Types of Retirement Plans for Small Business Owners
The managers of well-run businesses usually name “backups” to keep things going smoothly — just in case. That’s also a smart plan for your personal finances, where you risk experiencing financial losses or other difficulties if you can’t make your own decisions because of a long illness or other unexpected problem. You might prepare for… Continue Reading Adding a Personal Backup With a Living Trust
Should you worry that debt relative to GDP is rising fast here and globally? You hear a lot of worrying about mounting government debt because many people are convinced that public debt is a main source of problems for any economy. And currently the debt ceiling limit – the legislative limit on the amount… Continue Reading Our National Debt and Gross Domestic Product
As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do to maintain health insurance after I retire? The answers to… Continue Reading Key Considerations as You Start Receiving Social Security Benefits
Unlike verbal literacy, financial literacy isn’t often taught in schools—which means that many people may enter adulthood without having all the tools they need to make informed and effective financial decisions.1 Fortunately, gaining financial literacy doesn’t need to be a long or complicated process. Read on for three simple things you can do to work… Continue Reading How to Increase Your Financial Literacy
When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even if you do, there are reasons you may want to consider using Traditional and/or Roth IRAs to supplement your retirement savings. There… Continue Reading Retirement Planning: To Roth or Not to Roth?
Many have heard Social Security retirement benefits referred to as part of the “three-legged stool” of retirement: Social Security, a pension or defined benefit plan, and personal savings.1 The idea is that with these three sources of income, a retiree can ensure several steady streams of income without relying too heavily on just one “leg.”… Continue Reading The 3 Components of Social Security
Once upon a time, investing in the stock market involved ticker tape and a lot of phone calls. Today, most investors reach no further than their pocket for up-to-the-minute market updates, portfolio valuations, trading capabilities, and analytics. The property management industry is only now beginning to complete a similar transition, and many real estate investors… Continue Reading All online, all the time? Technology brings new benefits to hiring a property manager.
Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time outweighs such risks. However, because there are no guarantees, investing assets can be a nerve-wracking experience – especially during periods… Continue Reading How Financial Asset Management May Help Investors Stay the Course
In 2020, the average FICO score in the U.S. rose to 711, an eight-point increase from 2019.1 When it comes to having healthy credit, your score is the result of many factors. But what specifically goes into someone’s credit report, and what steps can you take to improve your credit?1 Test your credit knowledge with… Continue Reading How Much Do You Know About Credit?
When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great Barrier Reef. Bucket list items are the things one plans to do their entire… Continue Reading Re-thinking Your Bucket List
Five common retirement planning misperceptions and how to avoid Many of us remember the phrase “too big to fail” from the 2008 financial crisis and cringe now that its use has been resurrected during the coronavirus pandemic. Others remember that the term was also used in 1984 by U.S. Congressman Stewart McKinney when he… Continue Reading Your Retirement Planning: “Too Big to Fail”
How resourceful can you be during your retirement? Determining where your retirement money will come from is an integral part of planning for retirement. Most people draw on three main sources of income: Social Security, employer-sponsored plans, and personal retirement savings. Each offers important resources that can help you fund the lifestyle you seek in… Continue Reading Assessing Your Retirement Resources
Seventy-two is an important age milestone for those in or near retirement, as it marks the time when required minimum distributions (RMDs) begin to be withdrawn annually from IRAs and employer-sponsored retirement plans (previously, the threshold was 70 ½). The milestone carries with it tax consequences that are not fixed. Rather, there are a few… Continue Reading Optimizing Required Minimum Distributions
In 2020, the government gave taxpayers an automatic six-month extension due to the coronavirus. Individuals who were affected by the damaging wildfires were also given additional time to meet most tax deadlines. However, in 2021, the deadline for submitting your income tax return is likely to return to the regularly scheduled time slot on April… Continue Reading Tips for Tax Preparation
In an increasingly paper-free society, organizing your financial documents can still be a challenge. No matter how simple or complex your financial picture might be, it takes some thought-out organization to keep your tax documents, service records, and paid bills in a format that will allow you to easily access information when you need it.… Continue Reading Tips for Organizing Your Financial Documents
This year looks to be a record year for capital gain distributions When an investor sells a stock for more than the purchase price, the investor experiences a capital gain (it is simpler to call it a profit, but let’s stick to some technical terms for a minute). For example, if you bought Amazon… Continue Reading Capital Gains for the 2020 Season Could be Huge
New Year’s is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances. To make the most of the New Year, keep the following tips in mind. 1. Outline New Goals… Continue Reading New Year’s Resolutions to Get Your Finances in Order
Charitable giving is a way for affluent individuals spread their money around and to benefit causes that are near and dear to their hearts. Yet, for those who fall into the high net worth category, it is critical to structure charitable giving correctly so that you will reap the tax benefits while making the greatest… Continue Reading How to Structure Charitable Giving Throughout Your Lifetime
As the holidays approach, many children start to make wish lists, but unfortunately, not all children have someone to give them gifts. Luckily, there are many charities that help get holiday gifts and joy to children. If you’re thinking about donating toys this holiday season, here is what you need to know. Charities That Accept… Continue Reading Charitable Giving and Donating Toys
If giving to charity is important to you but you have more time than money, you may wonder whether your donation of manpower will be as valuable as cash. For many charities, the answer is an unequivocal yes. Below are some tips and tricks that can help you optimize your charitable giving through volunteer work.… Continue Reading Contributing to a Charity When You Have More Time Than Money to Give
Responsible giving doesn’t only involve making sure to help those in need, but also ensuring that you perform your proper research by evaluating the charity. Proper evaluation will help you to make sure that your funds are being used in the way you wish them to be and can help you leave the impact you… Continue Reading How to Evaluate a Charity and Whether to Donate
Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) are designed to help you save money on medical costs by giving you access to a special savings account with tax benefits. Although these plans are very similar, they have a few differences. For instance, employees and self-employed people can both open HSA plans, while only… Continue Reading Benefits of HSA and FSA Accounts
By the last third of the calendar year, you’re likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning, creating the first draft of your federal and state income… Continue Reading End of Year Planning: Set Goals and Reduce Taxes
Despite the dollars, fears and emotions – you can manage with planning Long-term care (LTC) keeps you functioning in the face of devastating illnesses, disabilities and prolonged disorders such as Alzheimer’s disease. LTC kicks in when you lose the ability to care for yourself and can no longer do things such as bathe, dress… Continue Reading Prepare for Long-Term Care Before the Need
Creating a new Mount Rushmore based on the performance of Wall Stree Every four years, Washington D.C. and Wall Street converge as Americans elect a president and Wall Street tries to figure out what the outcome means for the stock and bond markets. And since so many hypotheses on this topic abound, it’s hard… Continue Reading Ranking the Best and Worst Presidents
Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life, it doesn’t make it any less important. Whether you call yourself a baby boomer, hail from the Gen… Continue Reading What Gen Xers, Millennials, and Baby Boomers Need to Know About Financial Planning?
What will happen to your Facebook account when you die? What about all your photos shared on social media, your texts with loved ones, or documents on cloud-storage systems? In just the two-year period from 2012 to 2014, humans produced more data than in all of human civilization before that – and the pace is… Continue Reading Estate planning for your digital assets
As the threat of the coronavirus swept through the nation in March, many businesses sent their workers home, and now, as fall looms around the corner, many people are continuing to work from home. If you’re working home longer than expected, you are not alone. Want to make the best of this new situation?… Continue Reading What to Do If You’re Working From Home Longer Than Expected
As a physician, you understand your medical specialty inside and out, but at the same time, you also need to be able to handle the financial challenges associated with your industry. That may include juggling a lot of student and professional debt, running your own clinic, saving for the future, and creating contingency plans for… Continue Reading 5 Critical Financial Strategies for Physicians
As the end of the year approaches, it’s time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax situation. This is particularly true for year-end planning. You can’t know where to go next… Continue Reading Year-End Tax Planning
As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to protect your wealth. Keep these tips in mind. Shift Toward More Conservative… Continue Reading How to Protect Your Wealth as You Get Older
Three things to look for when buying an index fund or ETF As tax season comes to a close, you realize exactly how much you paid in taxes and naturally will ask the question, “what can I do to reduce my taxes next year?” The very short and simple answer to this question is… Continue Reading Smart Investing to Reduce the Bite of Taxes
Should you really consider getting life insurance when you are close to 60? September is National Life Insurance Awareness month. And while most of us likely recognize that life insurance provides us peace of mind and security, there may be a few things you don’t know. Life Insurance is Not Just for the Young… Continue Reading National Life Insurance Awareness Month
Remember, it is never too early to start planning for your future The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to help you achieve your overall objectives: Review your current financial situation by assessing… Continue Reading A Checklist for Your Retirement Planning
Uncle Sam wants your money. He has bills to pay, just like you. And he’s been waiting patiently for decades for you to hand over his share of your tax-deferred retirement dollars. He expects some folks to be stubborn about it, so he has an answer. It’s called a required minimum distribution (RMD), and savers… Continue Reading 3 Mistakes to Avoid Before Taking Required Minimum Distributions
The abrupt end to the 2019-2020 school year in many parts of the U.S. left parents and students alike struggling to establish healthy routines. As many students prepare to head back to the classroom (or the remote classroom) this fall, what steps can parents take now to get their houses in order? Learn how dependent… Continue Reading Back to School: Getting Your Financial House in Order
As temperatures start to heat up and the days get longer, summer fun can kick into gear. Looking for things to do this summer? Then, check out this list of fun and relaxing summertime ideas. Be a tourist in your own area You don’t have to leave town to feel like you’re on vacation.… Continue Reading Maximize Your Summer Fun With These Ideas
You know you want to enjoy your retirement, but getting to that point can feel difficult. Worried that you’re not saving enough? Trying to get your spending under control? These problems are common for many people who are trying to build their nest egg while balancing their budget, but these tips can steer you in… Continue Reading How to Save for Retirement and Avoid Overspending During Your Career
Sending a child to college for the first time can be a stressful transition for any parent. Even though your child is legally an adult (or almost an adult) by the time they head out on their own, a parent’s worries about health, safety, and happiness don’t end at their child’s 18th birthday, and sending one’s… Continue Reading What It’s Like To Send a Child to College
Whether you dream of a travel-filled retirement or would prefer to relax and enjoy spending more time at home, you’re probably wondering what you can do to make your golden years as stress-free as possible. For many who have spent the last several decades in wealth-accumulation mode, withdrawing savings can trigger anxieties about the future. Some… Continue Reading How to Make Savings Last Longer in Retirement
With the coronavirus shutting done educational institutions and moving classes online, the face of education across the country has changed. While the focus has been primarily on completing the educational requirements to get K through 12 students through the end of the year, colleges and universities have been particularly hard hit as well. Not only… Continue Reading Paying for College and the Impact of COVID-19
Whether you’re a first-time home buyer or are re-entering the real estate market after a hiatus, it’s important to educate yourself on the most up-to-date tips and tricks for purchasing a home. Doing so can help save you thousands or even tens of thousands of dollars on what is likely to be one of the biggest… Continue Reading Three Things to Know Before Buying a Home
Being a healthcare worker can be a stressful and tiring job at the best of times, but in the face of vast uncertainty and fear around the coronavirus, this profession has become even harder. If you are a healthcare worker on the front lines of the coronavirus, you are bravely dealing with an unprecedented situation… Continue Reading Healthcare Workers: How to Keep Your Head Up During Scary Times
Although the COVID-19 pandemic has put somewhat of a damper on the Spring 2020 homebuying season, many prospective buyers can take advantage of a slower market and lower interest rates to snap up the perfect property. But before you begin shopping in earnest, there are a few steps you should take to accelerate your savings rate… Continue Reading Three Tips to Help You Save for Your First Home
The arrival of spring flowers often means one thing — the home-buying season is here. But with the COVID-19 pandemic in full swing in early March 2020 and many parts of the U.S. still under shelter-in-place orders through Memorial Day, this year’s home-buying season is anything but business as usual. How will this pandemic affect… Continue Reading Navigating the Path to Homeownership After COVID-19
Using money to enhance your life and the lives of those around you Money matters are complex and even scary. How you choose to approach finances mentally is key to mastering them. Financial professionals call this “money mindfulness.” And it’s a mentality that can be worked on while we’re following the current “stay-at-home” orders of… Continue Reading Amidst Stay-At-Home, Learn Money Mindfulness
You’ve written your business plan, you’re excited about your business idea, and now it’s time to get started. One problem: You don’t have the financing to fully realize your dream. What are your options? Aside from using your own funds and borrowing from friends and family, there are numerous routes that you can take, and… Continue Reading Funding a Business
If you are self-employed or own a small business and you haven’t established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. Tax advantages A retirement plan can have significant tax advantages: Your contributions are deductible when made Your contributions aren’t taxed… Continue Reading Retirement Plans for Small Businesses
Nurses have always been heroes, tirelessly taking care of others while often putting their own health at risk. However, while dealing with the coronavirus, their role has become even more significant. Nurses are on the front lines of the fight against the coronavirus, and for their selfless efforts, these professionals deserve a lot of praise… Continue Reading Happy Nurses Week: A Look at Nursing in the Time of the Coronavirus
During this stressful and uncertain time, I am here to help you with understanding all the new resources and financial assistance available for small businesses, as well as certain non-profits and other employers. The following FAQ provides information about the major programs and initiatives available from the Small Business Administration (SBA) to address needs your… Continue Reading 2020 CARES ACT Small Business Employer FAQ – Key Provisions
April is National Financial Literacy Month – an entire month dedicated to underscoring the importance of learning, establishing and maintaining healthy financial habits. But ask yourself this: what have you learned about anything financial lately? Do most of your neighbors keep a household budget or save for retirement? Does your cousin live hand-to-mouth? Do you… Continue Reading April is Financial Literacy Month: Too many people just don’t have it, but your financial professional can help
If the coronavirus crisis has led you to recently join the more than 5 million U.S. workers who work from home, you may still be settling into a routine.1 Adding homeschooling (or e-learning) into the mix can introduce additional complications. Fortunately, there are some tried and true tips from parents who have already spent years juggling working from… Continue Reading Balancing Working from Home and E-Learning: A Parent’s Guide
Most of us go to see professionals when we’re in trouble or during times of crisis. Think about it. We go to the doctor when we’re sick. We go see a lawyer when we have a pending legal matter. We go see a counselor when we’re feeling depressed. As a financial advisor, unfortunately, I often… Continue Reading When to Call Me: Times to call your financial advisor
The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes by 90 days, giving individuals and businesses another 3 months to file and then pay the government what they owe. What Should You Do? Putting off paying taxes until right before the deadline is human nature. In fact,… Continue Reading The April 15th Tax Deadline is Now July 15th: You don’t need to file by April 15th and you should think about the benefits
Nothing in life is certain except death and taxes. — Benjamin Franklin That saying still rings true roughly 300 years after the former statesman coined it. Yet, by formulating a tax-efficient investment and distribution strategy, retirees may keep more of their hard-earned assets for themselves and their heirs. Here are a few suggestions for effective money… Continue Reading Tax Strategies for Retirees
These are challenging times, and this week may be the toughest as we wait for COVID-19 to reach its peak in the United States. As the war against COVID-19 wages on, we continue to be inspired by the tremendous bravery shown by healthcare workers on the front lines. Other heroes will likely emerge from a… Continue Reading A Unique Economic Situation
It is almost impossible to predict when, how severe or for how long flu season will be from one year to the next. But the Center for Disease control (CDC) has estimated that the economic impact of the flu is a staggering $87 billion each year, including: $16.3 billion in loss of earnings $10.4 billion… Continue Reading Why Do Less than Half of Us Get the Flu Shot?
During this stressful and uncertain time, I am here to help you with understanding all the new resources and financial assistance available for small businesses, as well as certain non-profits and other employers. The following FAQ provides information about the major programs and initiatives available from the Small Business Administration (SBA) to address needs your… Continue Reading 2020 CARES ACT Small Business Employer FAQ – Key Provisions
In late March 2020, as the number of novel coronavirus cases in the U.S. surged past 100,000, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law.1 The CARES Act provides around $2.2 trillion in aid to businesses and individuals who have been impacted by shelter-in-place orders, government-mandated business closures, and large-scale job losses.… Continue Reading Retirement Assistance Within the CARES Act
April 2, 2020 Dear Valued Investor: “Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, reach for a bucket.” —Warren Buffett The battle with COVID-19 rages on, and the headlines continue to get worse. The number of new cases and deaths… Continue Reading A Letter to Clients
Americans, it seems, are spenders. Personal savings rates are low and many people spend beyond their means. If you’re among those Americans who can’t seem to save, it might be time to create a budget. A budget allows you to understand where the money goes and may help you free up cash for important savings… Continue Reading Put Savings (and Yourself) First with a Budget
Thinking about the need and the costs of long-term care is enough to make anyone uncomfortable. But while it’s a difficult subject to talk about, it’s also a topic that often generates lots of questions and misunderstanding. Consider this: The median cost of a semi-private room in a nursing home now exceeds $85,000 per year,… Continue Reading The Basics of Long-Term Care Insurance
Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance. Although many large companies provide life insurance as part of their benefits package, this coverage may be insufficient.… Continue Reading Buying Life Insurance: What Kind and How Much?
Credit was once defined as “Man’s Confidence in Man.” But in fact, the definition of credit today is more like “Man’s Confidence in Himself.” Using credit today means you have confidence in your future ability to pay that debt. Forty years ago, your parents may have paid cash for their homes and their cars, a… Continue Reading Tips for Managing Debt and Credit
The demands on medical practitioners today can seem overwhelming. It’s no secret that health-care delivery is changing, and those changes are reflected in the financial issues that health-care professionals face every day. You must continually educate yourself about new research in your chosen specialty, stay current on the latest technology that is transforming health care,… Continue Reading Medical Professionals: A Prescription for Your Financial Health
There are five estate planning documents you may need, regardless of your age, health, or wealth: Durable power of attorney Advance medical directives Will Letter of instruction Living trust The last document, a living trust, isn’t always necessary, but it’s included here because it’s a vital component of many estate plans. Durable power of attorney… Continue Reading Key Estate Planning Documents You Need
Many clients may fastidiously plan the path they want their assets to take, but not give their beneficiary information the attention it needs and deserves. Designating the best beneficiaries is essential for proper asset planning, and investors should periodically re-visit this information to make certain it still meets their needs. It’s not the most pleasant conversation topic,… Continue Reading To-Do Item for 2020: Beneficiary Reviews for Current Clients
Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you’re not participating in it, you should be. Once you’re participating in a plan, try to take full advantage of it. Understand your employer-sponsored plan Before you can take advantage… Continue Reading Taking Advantage of Employer-Sponsored Retirement Plans
As Enacted on December 20, 2019 · Prepared for LPL by Davis & Harman LLP Open Multiple Employer Plans / Pooled Employer Plans – The SECURE Act allows unrelated small employers to band together in “open” 401(k) multiple-employer plans (MEPs; also referred to as pooled employer plans (PEPs)). This reduces the costs and administrative… Continue Reading Setting Every Community Up for Retirement Enhancement (SECURE) Act – Top 10 Key Provisions
Investing for your retirement isn’t about getting rich quick. More often, it’s about having a game plan that you can live with over a long time. You wouldn’t expect to be able to play the piano without learning the basics and practicing. Investing for your retirement over the long term also takes a little knowledge… Continue Reading Staying on Track with Your Retirement Investments
One of the first steps you’ll take in the estate planning process is determining how much planning you’ll need to undertake. Two key components of your initial needs evaluation are an estate analysis and a settlement cost analysis. The estate analysis includes an in-depth review of your present estate-settlement arrangements. This estate analysis will also… Continue Reading Estate Planning Checklist
Go out into your yard and dig a big hole. Every month, throw $50 into it, but don’t take any money out until you’re ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn’t it? But that’s what investing without setting clear-cut goals is like. If you’re… Continue Reading Investing for Major Financial Goals
Similar to taking care of your personal health by proactively incorporating healthy habits and annual checkups, you can also take control of your financial health when you are proactive and engaged in managing your finances. And also like your physical and mental health, your financial health requires an ongoing commitment and focus in order to… Continue Reading Six Tips To Take Control of Your Financial Health
Money. It’s hard to get and easy to lose. It doesn’t take long for the wealth you’ve accumulated to disappear if you don’t manage your money well or have a plan to protect your assets from sudden calamity. Snares like the ones mentioned below could easily threaten your financial security. Planning ahead can protect you… Continue Reading Avoid These Financial Traps — They May Be Hazardous to Your Wealth
As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what’s predicted to be trillions of dollars over the coming decades. Helping to pay for a grandchild’s college… Continue Reading How Grandparents Can Help Grandchildren with College Costs
The average donor household in the United States gives around $2,000 a year, with small donations making up the bulk of charitable gifts, according to a report prepared by the Center on Philanthropy for Indiana University. The study was based on an analysis of the results of a survey sponsored by American Express, in which… Continue Reading Most Donors Make Small Charitable Gifts
