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Friday, February 2, 2024

Backdoor vs. Mega Backdoor A backdoor Roth IRA transfers money from a traditional account to the Roth. The “mega” backdoor is a strategy employed by people with a 401(k) plan at work. It is often pursued by higher-income...

Wednesday, January 24, 2024

Independence is important in retirement. The more independent retirees are, the more fulfilling their retirement is likely to be. However, living independently as you age isn't always easy and may take some degree of planning well...

Wednesday, January 17, 2024

In a surprising turn of events, the Federal Reserve has taken a "dove"ish pivot, signaling a potential end to the rate-hiking cycle that has characterized its recent monetary policy stance. This shift has sent shockwaves through...

Tuesday, January 9, 2024

Sometimes, based on the movement of the market and your risk tolerance, you may look for investment opportunities with a strategy encompassing wealth growth while mitigating the risk of unanticipated loss. There are two popular...

Tuesday, January 2, 2024

Whether you’re 23 or 35, it’s important to know whether you are saving enough for your retirement. There is no time like the present to ensure you are allocating enough funds to your retirement account. With folks routinely...

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Monday, December 18, 2023

The Gift of a Lifetime The primary purpose of life insurance is to provide financial resources for those that depend on you when you die. However, you can lessen the complexity of charitable giving through wealth transfer by using life...

Sunday, December 10, 2023

If you plan to gift a sizable amount of money to a loved one, gift tax should be on your radar. Gift tax is a federal tax imposed on transfers of cash or property valued above a certain threshold. Gift tax is paid by the gift giver,...

Tuesday, December 5, 2023

Individuals and their families often seek to make positive societal and world change through philanthropic efforts. Philanthropy is one way families clarify their values and use their wealth to work together across generations to build...

Monday, November 20, 2023

A trust is a legal vehicle that protects your assets that contains instructions for your assets when you die or become incapacitated. When you set up a trust, you transfer assets from your name into your trust's name while you still...

Wednesday, November 15, 2023

Businesses generally are illiquid, which can create problems if a business owner requires care in a long-term care facility. LTC is ongoing care in a care facility, nursing home, or at home for those unable to perform a certain number...

Thursday, November 9, 2023

Charity and philanthropy are two terms related to giving that are often used interchangeably, even though they differ. While the difference is subtle, it is essential to understand the differences between charity and philanthropy in...

Thursday, November 2, 2023

Becoming a member of the military is not only a short-term experience where you can learn life skills and defend your nation during times of conflict, but you can also have a wonderful career, build a life, and grow your wealth with...

Thursday, October 26, 2023

How to Avoid a Cyber Identity Crisis You may have thought your digital identity was safe and not a likely target of a cybercriminal until one day, the bank calls wondering if purchases made at a store that you have never been to, 2...

Friday, October 20, 2023

3 Reasons to Rethink Your Retirement Plan Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While...

Wednesday, October 11, 2023

Talking about long term care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status,...

Friday, October 6, 2023

Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. 1. Do you have a will and powers of attorney...

Thursday, September 28, 2023

The 20 percent down payment on a conventional loan is one of those “everybody knows” items, as in “everybody knows you have to put 20 percent down.” In reality, however, there are a variety of down payment...

Wednesday, September 20, 2023

Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but you may also benefit from tax rules that apply to gifts...

Thursday, September 14, 2023

Nine of every 10 U.S. families with children have at least one working parent.1  Though working parents make up one of the largest demographic groups in the country, they face many challenges—from the cost of childcare to...

Thursday, September 7, 2023

When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan. The Internal Revenue Service...

Thursday, August 24, 2023

When your child first started school, you doled out the change for milk and a snack on a daily basis. But now that your kindergartner has grown up, it's time for you to make sure that your child has enough financial knowledge to manage...

Wednesday, August 16, 2023

Regardless of what you do or how much you earn, you deal with money on a daily basis. The more you understand about finances, the more effectively you will be able to manage yours.Yet, many people lack financial literacy skills. One...

Friday, August 11, 2023

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...

Thursday, August 3, 2023

Do you know the answer if your financial professional asks you what type of investor you are? While it may be challenging to classify yourself off the top of your head, knowing what type of investor you are might help you avoid making...

Thursday, July 27, 2023

In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash...

Tuesday, July 18, 2023

We all have dreams in life, and oftentimes those dreams cost money. If you have a financial goal or responsibility coming up soon or simply want to build up an emergency fund, follow these tips to help you spend less and save money...

Friday, July 14, 2023

The "sandwich generation" is the descriptive term for adults generally between the ages of 40 and 59 who are raising a minor child (or supporting a grown child) while also caring for a retirement-age or older parent. With financial...

Thursday, July 6, 2023

Freedom is not won by sitting idly and hoping for a miracle. Financial freedom requires vision, courage, and sacrifice for a higher goal. The Financial Independence, Retire Early (FIRE) movement is a part of that vision.What Is the...

Monday, June 26, 2023

At some point in your life, you'll probably be faced with the question of whether you need life insurance. Life insurance is a way to protect your loved ones financially after you die and your income stops. The answer to whether you...

Wednesday, June 21, 2023

When you sign up for a homeowners or condominium owners insurance policy, you take the first step in protecting what may be one of your largest assets. It is important to be knowledgeable about the appropriate amount of coverage needed...

Friday, June 16, 2023

When you prepare to have your first child, the to-do list may seem endless—from purchasing a car seat to furnishing a nursery, lining up day care options, and planning for time off from work. These tasks, while sometimes...

Monday, June 5, 2023

In 2021, 44.7 million Americans are facing the burden of student loan debt. They owe more than $1.53 trillion in student loans. These alarming statistics prove the importance of saving for higher education. In the past, many...

Friday, June 2, 2023

What is a fixed annuity?Fixed annuities are long-term savings vehicles used mostly for retirement or as a safe holding place for accumulated money. Interest rates are credited by the issuing life insurance company for a specified...

Friday, May 26, 2023

529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to...

Friday, May 19, 2023

The Facts of LIFE (Living Independently For Elders)  Navigating elder care and elder care finances in the U.S. can be a challenge even for the most well-prepared households. So what, exactly, is involved in senior financial...

Monday, May 8, 2023

Getting Back on Track after a Post-Retirement Financial SetbackYou may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free...

Wednesday, May 3, 2023

With all of the attention the life insurance industry has been receiving lately, it's easy for policyholders to overlook two important factors: 1) few investments, if any, meet the safety of life insurance and, 2) few investments offer...

Friday, April 28, 2023

If you've ever wondered why so many lottery winners (an estimated 70 percent) seem to blow through all their winnings so quickly, the answer often lies in two key traits: overconfidence and trusting the wrong people.1 The same...

Wednesday, April 19, 2023

Most people know that once they approach retirement age, their reward for years of work comes from Social Security payments they put money towards during their employment. Deciding when to file for your Social Security payments is...

Wednesday, April 12, 2023

Most often, the first question a prospective employee will ask is about your company’s benefit program. And in my experience, the two most often-asked questions are about health insurance and an employer-sponsored retirement...

Sunday, April 2, 2023

Financial literacy refers to the skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances. Financial literacy starts by building a basic understanding of 'money...

Monday, March 27, 2023

Your credit report contains information about your past and present credit transactions. It's used primarily by potential lenders to evaluate your creditworthiness. So if you're about to apply for credit, especially for something...

Friday, March 24, 2023

Times to call your financial advisorMost 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...

Monday, March 13, 2023

Searching for a new job is always stressful, even more so for older workers looking to change jobs or re-enter the workplace. As a more senior worker, you have the experience and wisdom but may be worried about competing with younger...

Monday, March 6, 2023

As more and more consumers search for financial information on the Internet, they may inadvertently leave themselves open to being “tracked” by certain companies and individuals. Visitors to financial websites have created...

Friday, February 24, 2023

It’s easy to carry the stress of home to work, and work to home. Doing so will most likely inhibit your time to relax with friends, family, and your productivity in the work place. Budget your time accordingly for each aspect of...

Saturday, February 18, 2023

Getting Back on Track after a Post-Retirement Financial SetbackYou may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free...

Saturday, February 11, 2023

The romanticized image of entrepreneurs is a picture of youth: a 20-something individual with disruptive ideas, boundless energy and a still-sharp mind. Silicon Valley has bet on this image for years.But is this right?Far from it,...

Wednesday, February 1, 2023

Although the pandemic has put a strain on many household budgets, it hasn't been all bad news—in fact, more than five million people across the globe became millionaires during the pandemic.1 But even if you're not among...

Thursday, January 26, 2023

Asking questions and planning will give you both peace of mindCombining love, lives and laundry is one thing. Combining your money is another. Newly married couples who both work would do well to think about what to do with two incomes...

Monday, January 23, 2023

A Step-By-Step GuideYou have probably heard about financial planning and its potential benefits, but you are unsure how to apply the principles to your life. A financial plan is a collection of steps that help you to evaluate your...

Monday, January 9, 2023

What is an estate tax return?When you die, you will leave behind all your property (everything you own) and debts (everything you owe). All this is called your estate. After the debts have been paid, the various items left in your...

Sunday, January 1, 2023

Your Countdown to Financial HealthFor many people, a new year provides a new start—and nothing says "new start" like a fresh new set of financial goals. But setting these goals is easier said than done. What steps should you...

Monday, December 26, 2022

A framework to help you be among the 8% that sticks to resolutionsWill you make a New Year’s resolution this year? One of the smartest ones could be to get your finances in order. But keeping that promise to yourself is another...

Sunday, December 18, 2022

What if you focused on your system instead of just your goals?Setting goals for a new year can feel overwhelming.  We all know that resolutions don’t last, but we also feel the energy that comes with a new year of...

Tuesday, December 13, 2022

Debt-to-Income Ratio ExplainedIf you’re considering purchasing a home, debt-to-income ratio (DTI) is an important term to familiarize yourself with. Your DTI can ultimately make it easier or harder for you to qualify for a...

Wednesday, December 7, 2022

There are chilling similarities – but fundamental differences, too.On December 7, 2001, a Gallup Poll ran the following headline:“Americans Say Sept. 11 Will Be More Historically Significant Than Pearl Harbor.”That...

Thursday, December 1, 2022

What are appropriate checklists for year-end tax planning?Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...

Monday, November 28, 2022

#GivingTuesdayConsider whether a donor advised fund can help build a more generous world.November brings us Thanksgiving – a day for simply giving thanks. The 11th month also brings us Black Friday and Cyber Monday – two...

Tuesday, November 15, 2022

What does an entrepreneur need to create a dynamic company? The right mindset is a big part of it.As an entrepreneur, you devote half your time or more to the daily hustle, making things happen and accomplishing goals. The other half...

Wednesday, November 2, 2022

Understanding Your OptionsOver the next 50 years, the age 85 and older population is expected to be the fastest growing segment of society. Unfortunately, along with aging, the chances of needing long-term care (LTC) increase. The...

Wednesday, October 26, 2022

Nearly 75% of American adults report that they don't regularly follow a budget, while 10% have no budget at all.1 A lucky few may earn enough, or have low enough expenses, making budgeting unnecessary. But for the rest of us, the...

Wednesday, October 19, 2022

Finances are dicey for those simultaneously caring for their parents and kidsOver the last 20 years, the median-age for Americans (the median age is the point where exactly half the population is older and the other half is younger)...

Tuesday, October 4, 2022

If you've never engaged in financial planning and are unsure how to get started, this article is for you. A financial plan starts by evaluating your current financial situation and future expectations and can be created independently...

Saturday, October 1, 2022

Many parents pay for college with a combination of savings, current income, and financial aid. By learning the basics of financial aid, you'll be able to understand how the aid process works and compare the aid awards your child...

Thursday, September 15, 2022

As your loved one ages, he or she may require medication for health conditions. He or she may also take over-the-counter pills, vitamins, herbs, and dietary supplements. While each medication may help manage symptoms, be sure that the...

Friday, September 9, 2022

If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options.What will I be entitled to?If you leave your job (voluntarily or involuntarily),...

Thursday, September 1, 2022

Life insurance has many uses, including income replacement, business continuation, and estate preservation. Long-term care insurance helps provide financial protection against the potentially high cost of long-term care. If you find...

Friday, August 26, 2022

Today, women have more financial responsibilities than ever before. How will your family or loved ones manage financially if you die? Whether you are single, married, employed, or a stay-at-home mom, you probably need life insurance....

Sunday, August 14, 2022

One of the hardest things to do, by far, is realizing when a want is not a need.Budgeting is a balancing act. The secret to sustaining yourself from day to day while also working towards financial goals is building a budget that...

Monday, August 1, 2022

In golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying lessons from the golf course to your financial life...

Thursday, July 21, 2022

If you're living paycheck-to-paycheck or stuck in a job you don't love just to pay the bills, it can be easy to feel as though you're financially trapped. But financial freedom doesn't need to be elusive—with some focused and...

Thursday, July 14, 2022

We take it for granted that technology brings people closer together and improves our access to essential products and services. If you can’t imagine life without your smartphone, it’s easy to forget that people who...

Thursday, July 7, 2022

Almost half of all adults are part of the "sandwich generation." These are adults in their 40s and 50s who are helping support or care for a parent while also supporting or caring for a child.1 Being caught between two generations of...

Saturday, June 25, 2022

At some point in your life, you'll probably be faced with the question of whether you need life insurance. Life insurance is a way to protect your loved ones financially after you die and your income stops. The answer to whether you...

Friday, June 10, 2022

As recent graduates enter the workforce, they may need to make some financial decisions to help them prepare for potential economic uncertainty such as inflation, rising real estate prices, and a volatile stock market. If planned...

Thursday, June 9, 2022

How long do you think you will live? How long does your money need to last? If you’re like most people, you get this age wrong.The consequence? Faulty retirement planning, overspending now, and running out of money before you...

Sunday, May 29, 2022

You may or may not have heard of the Remembrance Poppy—but you’ve probably seen it. These red-and-black poppies symbolize those who lost their lives in combat, and it was these same poppies that inspired a profound poem...

Thursday, May 26, 2022

With the average cost of tuition and fees at private colleges exceeding $43,750 in 2021-22—while out-of-state public college students are paying nearly $30,000 per year—saving for college might feel like a monumental task...

Saturday, May 14, 2022

As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may...

Friday, May 6, 2022

In late 2019, SECURE Act was passed as a way to help Americans save more for their retirement. In March 2022, the SECURE Act 2.0 has passed in the U.S. House of Representatives and aims to improve the goals of the original SECURE Act....

Thursday, April 28, 2022

As a small-business owner, you may be looking for the next big thing—an investment that might double your profits within the next year or allow you to maintain your income while working just a few hours a week. However, business success may

Sunday, April 24, 2022

Wednesday, April 20, 2022

Thursday, April 14, 2022

Sunday, April 10, 2022

Wednesday, April 6, 2022

Tuesday, March 22, 2022

Tuesday, March 15, 2022

Friday, March 11, 2022

Friday, March 4, 2022

Monday, February 28, 2022

Tuesday, February 22, 2022

Friday, February 11, 2022

Tuesday, February 8, 2022

Heading to your first meeting with a new financial professional may be a lot like going on a blind date. Can you have anything in common? Can you click? Can you trust this other person with what's most important to you?

Thursday, January 20, 2022

Wednesday, January 19, 2022