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Matter of Tax
Important 2024 Dates, Unveiling Tax Breaks for Homeowners & Tax Year 2024 and 2025 Adjustments The 2024 tax season is upon us, and it's time to get prepared for filing your taxes. Whether you're a seasoned taxpayer or a first-timer,...
Read MoreNavigating the Waters of Executive Bonus Plans
Tips to pursue your financial aspirations with prudence and foresight Executive bonus plans represent a cornerstone of compensation packages for top-tier executives, offering a mix of incentives and rewards for performance and...
Read MoreMitigating the Serious Risks of Over-Concentration
How financial professionals can help seasoned business executives For seasoned business executives, the allure of company stock can be undeniable. After years of dedication and hard work, owning a significant portion of one's company...
Read MoreThe Battle of the Roth IRAs
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...
Read MoreYou’re About to Retire: Here are 7 Tips to Stay Independent
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...
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The Fed's Dovish Pivot: Navigating Investment Opportunities Amidst Rate Cut Signals
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...
Read MoreCDs and High-Yield Savings Accounts: Now or Never?
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...
Read MoreReality Check on Your Retirement Savings
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...
Read MoreHow to Donate Life Insurance to Charity
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...
Read More5 Ways to Give Tax-Free Gifts
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,...
Read MoreSeven Things to Know About Philanthropy
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...
Read MoreTrusts and Year-End Planning: A Checklist
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...
Read MoreA Business Owner’s Guide to Long-Term Care Planning
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...
Read MoreThe Subtle Difference Between Charity and Philanthropy
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...
Read More10 Tips for Building Wealth Throughout Your Military Career
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...
Read MoreSenior Cyber Safety
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...
Read MoreRetirement Revolution
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...
Read MoreJump-Starting the LTC Conversation
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,...
Read More12 Estate Planning Must-Dos
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...
Read MoreWhy the 20 Percent Down Payment Isn’t Always the Best Option
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...
Read MoreLife Insurance and Charitable Giving
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...
Read MoreFinancial Considerations for Working Parents
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...
Read MoreClearing the Air on 401(K) Hardship Withdrawals
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...
Read MoreTeaching Your College-Aged Child About Money
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...
Read More5 Ways to Improve Your Financial Awareness
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...
Read More4 Tips and Resources to Help Seniors During Periods of High Inflation and Market Volatility
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...
Read MoreDo You Know What Type of Investor You Are?
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...
Read MoreGetting Started: Establishing a Financial Safety Net
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...
Read More7 Ways to Save Money Quickly
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...
Read More5 Financial Facts about the Sandwich Generation
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...
Read MoreFreedom, Fireworks, and Fueling the FIRE Movement
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...
Read MoreLife Insurance - Do You Need It?
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...
Read MoreKeep Your Homeowners Coverage Up To Date
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...
Read More3 Reasons New Parents Should Consider Creating an Estate Plan
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...
Read MoreWhy Save for Higher Education?
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...
Read MoreWhy Fixed Annuities?
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...
Read MoreUnused 529 Plan Funds: 5 Spending Options to Consider
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...
Read MoreFinancial Planning and Senior Independence
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...
Read MoreSeniors and Debt
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...
Read MoreHow Life Insurance Policies Make Money for You
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...
Read More3 Moments in Life Where You Should Consider Consulting a Financial Professional
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...
Read More5 Social Security Benefits You Might Be Missing Out On
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...
Read MoreThe Basics of the 401k: Thoughts from a Financial Professional
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...
Read MoreThe Principles of Financial Literacy
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...
Read MoreUnderstanding Your Credit Report
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...
Read MoreWhen to Call Me
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...
Read More6 Job Searching Strategies for Older Workers
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...
Read MoreProtect Financial Information from Prying Eyes on the Web
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...
Read MoreHow to Balance Your Professional and Personal Life
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...
Read MoreSeniors and Debt
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...
Read MoreMost Successful Entrepreneurs Are Older Than You Think
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,...
Read More3 Ways to Show Your Money Love on Valentine's Day
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...
Read MoreAvoid the Two-Income Trap
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...
Read MoreFinding Focus with Financial Planning
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...
Read MoreFiling an Estate Tax Return
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...
Read MoreNew Year, New Goals
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...
Read MorePlanning to Make New Year’s Resolutions Stick
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...
Read MoreA Path to Setting and Reaching Your 2023 Goals
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...
Read MoreDebt-to-Income Ratio Explained
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...
Read MoreWas 9/11 This Generation’s Pearl Harbor?
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...
Read MoreAppropriate Checklists for Year-End Tax Planning
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...
Read MoreGiving Tuesday: A Global Day for Giving Back
#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...
Read More5 Attributes of Successful Entrepreneurs
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...
Read MoreLong-Term Care
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...
Read MoreFacing Your Financial Fears: 4 Ways to Avoid Budget Planning Scares
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...
Read MoreTips for the Fast Growing Sandwich Generation
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)...
Read More10 Easy Financial Planning Steps for Beginners
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...
Read MoreFinancial Aid 101
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...
Read MoreA Caregiver’s Guide to Medication Management
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...
Read MoreChanging Jobs? Know Your 401(k) Options
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),...
Read MoreLife Insurance Riders that Help Pay for Long-Term Care
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...
Read MoreWhy Women Need Life Insurance
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....
Read MoreManaging a Budget: Deciding Between Wants and Needs
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...
Read More3 Golf Tips to Keep Your Retirement Plan on Course
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...
Read MoreThe Different Stages of Financial Freedom
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...
Read MoreTechnology is alienating people – and it’s not just those who are older
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...
Read MoreFinancial Planning Challenges and Strategies for the Sandwich Generation
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...
Read MoreLife Insurance: Do You Need It?
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...
Read More4 Critical Money Tips for New Graduates
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...
Read MoreReasons You Should Plan to Live Until You're 95
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...
Read MoreA History of the Remembrance Poppy
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...
Read More4 Costly 529 Plan Mistakes To Avoid
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...
Read More5 Ways a Financial Professional Could Be a Small-Business Owner's Best Friend
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...
Read More12 Things Investors Need to Know about the SECURE Act 2.0
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....
Read More4 Key Investments You Should Consider as a Small-Business Owner
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
Read MoreListen to These Mental Health Podcasts for a Boost of Positive Energy
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Making the Most of Your Relationship with a Financial Professional
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?
Read MoreWhy You Should Resist the Temptation to Cash Out Your 401(k) Early
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