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Healthcare Costs That Catch Retirees Off Guard

An article on three healthcare costs that often catch retirees off guard. Most people prepare for the big healthcare costs in retirement: Medicare premiums, prescription drug coverage, and maybe extended care insurance. That’s a great...

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction. Did you know that... Forty-eight percent of full-time workers have no access to employer-sponsored short-term disability insurance.1,2 Thirty-six percent of...

Trends in Charitable Giving (updated for 2026)

Some people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits. According to the most recent report by Giving USA, Americans give $592.5 billion to charity every year.1 Americans...

Pickleball in Retirement

Learn about the latest sport to sweep the nation with this informative article. Staying Active in Retirement Over the last couple of years doctors have made clear the benefits of regular physical activity, especially for older adults....

Personal Finance Tips for Military Families

Military families face unique challenges, making personal finance even more critical. One study found that military personnel have more credit problems and are more likely to make late house payments than their civilian counterparts.¹...

Mutual Funds vs. ETFs

Exchange-traded funds have some things in common with mutual funds, but there are differences, too. The growth of exchange-traded funds (ETFs) has been explosive. In 2006, there were less than 1,000; by 2024, there over nearly 10,000...

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money. Maintaining good records is important to help meet your tax and legal obligations. The right record keeping...

Is Term Life Insurance for You?

Term insurance is the simplest form of life insurance. Here's how it works. Term insurance provides temporary life insurance protection on a limited budget. Here’s how it works: When a policyholder buys term insurance, they buy...

Is a Variable Annuity Right for Me?

Pundits go on and on about how “terrible” or “wonderful” annuities are, but they never talk about if annuities are right. For the casual observer, it sometimes seems that variable annuities are either “terrible” or “wonderful.”...

Saving Early & Letting Time Work for You

See how starting early—not saving more—can be the most powerful move you make for your long-term future. In 1964, The Rolling Stones released the hit single, "Time Is on My Side." Who knew they were talking about personal finance? What...

Who Is Your Trusted Contact (updated for 2026)

This investment account question is vital and answered as early as possible. Investment firms have a client service feature that may be a benefit to certain investors. They will ask you whether you would like to provide the name and...

Introducing the 530A Accounts

An article explaining 530A Accounts. Introducing the 530A Accounts In 2026, families across the United States will gain access to a new financial tool designed to enhance their children's financial futures: the 530A account, commonly...

The Cost of Medical Care

Learn about the risks of not having health insurance in this informative article.When uninsured people end up in the hospital, “sticker shock” can follow. Just a quick look at the current prices for medical procedures can be sobering...

Social Security: Maximizing Benefits

There are other ways to maximize Social Security benefits, in addition to waiting to claim them.Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don't know that there...

First Year of Retirement: What to Expect

Understand the key financial and lifestyle shifts that happen in your first year of retirement.There’s a moment early in retirement that surprises a lot of people.They wake up, and there’s nowhere to be. No commute. No quick check of...

Immediate vs. Deferred Annuities

Looking forward to retirement? It's critical to understand the difference between immediate and deferred annuities.Despite not being as well known as some other retirement tools, annuities account for 6.5% of all assets earmarked for...

How Income Taxes Work (updated for 2026)

A quick look at how federal income taxes work.Taxpayers and businesses spend an estimated 7.1 billion hours a year complying with tax-filing requirements, which is worth $388 billion in economic value just to comply with tax...

Understanding Extended Care (Updated for 2026)

Understanding the types of extended care services—and what those services could cost—may be critical.Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for individuals who are...

The Threat of Identity Theft

An article informing readers about the threats of Identity Theft.We've witnessed firsthand the effects of identity theft on individuals and families. These incidents underscore the need to consider a few proactive measures to help...

How Often Should You Update Your Estate Strategy?

Review your legacy approach regularly, particularly following significant life events or legislative updates.Once an estate strategy is in place, it should only require periodic reviews to check that it still reflects your wishes....

A Path to Serenity and Smart Money Choices

An article about meditation, mindfulness, and financial well-being.In today's fast-paced world, financial stress has become a part of life for some. The anxiety and pressure associated with money matters can create a vicious cycle,...

Insuring Your Business With a Buy/Sell Agreement

It may help your business be better prepared in the event of the death of a principal or key employee. Life insurance is designed to help protect a household from the financial hardships that may follow the untimely death of a primary...

How Financial Professionals Are Compensated

Read this overview to learn how financial advisors are compensated. The fees that investors pay to financial professionals for their advice and services come in two basic forms: transaction fees and ongoing fees. While professionals...

Directors and Officers Liability Insurance

Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making. Liability insurance for directors and officers is not just for large public companies; it can be an equally valuable...

FIRE Retirement

This short, informative article teaches the basics of the FIRE movement.If the idea of retiring in your early 50s, 40s, 30s, or even late 20s appeals to you, you may be interested in joining the FIRE retirement movement. Designed for...

An Overview of Renter’s Insurance

Don’t overlook the need for renter’s insurance if you rent your home.Renters sometimes overlook the need for insurance based on the belief that they may not have a significant amount of personal possessions, or because the property is...

Prevent a Rift: Money Tips for Newlyweds

Couples may be able to head off many of the problems in a marriage that money can cause.One survey found that 35% of couples attribute stress in their relationship to financial issues. This could explain why some experts say financial...

Questions to Ask About Medicare

Take the guesswork out of your IEP or SEP with this helpful article.If you are new to Medicare, there are several questions you should consider while approaching or within your Initial Enrollment Period (IEP) or a Special Enrollment...

Replacing Your Medicare Card

Learn how to replace your lost, stolen, or damaged Medicare card in this helpful article.If your red, white, and blue Original Medicare card is lost or stolen, or you can no longer use it because it is too faded or damaged, you can...

Tax Efficiency in Retirement (Updated for 2026)

What role would taxes play in your investment decisions? Will you pay higher taxes in retirement? It’s possible. But that will largely depend on how you generate income. Will it be from working? Will it be from retirement plans? And if...

Important Birthdays Over 50 (Updated for 2026)

Here's a look at several birthdays and “half-birthdays” that have implications regarding your retirement income.Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re...

Catch-Up Contributions (Updated for 2026)

Workers 50+ may make contributions to their qualified retirement plans above the limits imposed on younger workers. A recent survey found that 24 percent of workers are very confident about having enough money to live comfortably...

Insuring Your Second Home

There are unique risks of owning a second home and obtaining the proper coverage may protect you from financial risk. When it comes to insuring your second home, you may find that the coverage you need is quite different from what you...

Insuring Your Business Against Cyber Liability

90% of small businesses in the U.S. don't protect their data from cyber attacks. Is your business at risk? According to one study, 43% of data breaches involve small businesses. Another study found that the average cost of a data...

New Retirement Contribution Limits for 2026

A look at the new retirement contribution limits from the IRS. The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Keep in mind that this update is for informational purposes...

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs. Newly married couples should consider a comprehensive review of their current individual insurance coverage to determine if any changes are in order, as well as consider new...

Retirement Realities

Many pre-retirees can become focused on the “ideal” retirement, but turning that dream into a reality can be tricky. Expectations vs. Reality Predicting exactly what your retirement will be like is about as possible as a meteorologist...

Retirement Income and the Traditional Portfolio

Experiencing negative returns early in retirement can potentially undermine the sustainability of your assets. Taking withdrawals from a traditional portfolio exposes fixed-income investors to “sequence of returns” danger. In other...

What Is a 1031 Exchange?

A look at 1031 Exchanges, a real estate investment strategy that may allow you to defer your capital gains taxes. If you want to add investment real estate to your portfolio, you may want to know what a 1031 Exchange is. While the...

What Will You Do With Your Bonus or Windfall?

This article examines one's options when receiving a work bonus or other financial windfalls. While many of us have been conditioned to expect a regular bonus from work or some other gift of money, either from living relatives or...

Fallen Tree Damage—Who Pays

Your liability for damages that occur when a tree on your property falls on your neighbor’s property is not clear cut. As a homeowner, are you responsible for the damage caused by a tree on your property that hits your neighbor’s home...

Understanding Money Market Funds

Check out this brief article which explores the role Money Market Funds may play in your portfolio. A money market fund, not to be confused with a money market account, is a type of mutual fund that invests in instruments like cash...

Volunteering in Retirement

For many, retirement includes contributing their time and talents to an organization in need. “This generation got no destination to hold... We are volunteers of America”“Volunteers” by Jefferson Airplane Those of a certain age will...

Risk Perspective

Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make decisions alongside your trusted financial professional. Your risk tolerance is balanced...

Managing Money as a Couple

Keys to preparing to grow wealthy together. When you marry or simply share a household with someone, your life changes—and your approach to managing your money may change as well. The good news is it’s usually not so difficult. At some...

The One Big Beautiful Bill and You

Explore how the One Big Beautiful Bill may affect taxes, deductions, and credits now and in the years ahead. On July 4, the One Big Beautiful Bill was signed into law at a White House ceremony. This domestic policy bill extends the...

Should You Borrow from Your 401(k)?

Does it make sense to borrow from my 401(k) to pay off debt or to make a major purchase? The average credit card balance is $6,371 as of July 2025. With the average credit card annual percentage rate sitting at 25.34%, it represents an...

Year-End Charitable Gifting and You

This article may help you maximize the benefits of your donation for your chosen charity. Are you making charitable donations at year's end? If so, you should know about some of the financial "fine print" involved, as the right moves...

Insurance Needs Assessment: Married With Children

When you’re married and have children, insurance needs will be different. A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your insurance needs and...

Buying a Home

A look at what you need to think about when buying a home. When people talk about the American Dream and what it means to them, buying a house is often near the top of the list. However, the care and responsibilities of owning a home...

Women and Wealth: A Pivot Towards Retirement

Tips and strategies for women approaching retirement to ensure a smooth transition. Retirement is a significant transition, and it can bring both challenges and opportunities for women who have spent many years focused on their careers...

What to Look for in an Extended-Care Policy

Here’s a list of 8 questions to ask that may help you better understand the costs and benefits of extended-care insurance. Extended-care coverage can be complex... What types of facilities are covered? Extended-care policies can cover...

How Will Working Affect Social Security Benefits? (updated for 2025)

Knowing the rules may help you decide when to start benefits. In a recent survey, 75% of current workers stated they plan to work for pay after retiring.1 And that possibility raises an interesting question: how will working affect...

Making Sense of HSAs and FSAs

How HSAs and FSAs might help your household. With family health insurance premiums rising 297 percent since 2000, averaging over $25,000 annually, some employees feel the squeeze. Deductibles, too, have jumped nearly 50 percent over...

Helpful Retirement Strategies for Women

Learn how to address the challenges that women face when planning for retirement. Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to...

Breaking Down the Parts of Medicare

Medicare is broken down into four specific parts—but what do they mean? This article will help you understand each piece. Generally, the different parts of Medicare help cover specific services. Most beneficiaries choose to receive...

Retiree Health Care Coverage Overseas

Retirees traveling abroad need to know that their health insurance travels with them. According to the AARP, an estimated 44% of Americans over the age of 50 expect to travel internationally in 2025.1 Overseas travel may be one of the...

The Financial Literacy Crisis

Many Americans are operating their personal finances with only the barest minimum of knowledge. Imagine driving a car without a basic understanding of the rules of the road or even how to operate it. Scary thought. Here’s another scary...

Value vs. Growth Investing (updated for 2025)

Among stock-market investors there’s long been a debate between those who favor value and those who favor growth. Looking at their recent track records doesn’t do much to settle the debate. Over the past decade, as a whole, value...

Investing with Your Heart

For some, the social impact of investing is just as important as the return, perhaps more important. Some individuals believe that return on investment shouldn't be the only criterion for how they invest their money. For them, the...

Errors and Omissions Insurance

E&O insurance is specifically designed to protect you, or your company, from the risk of a client’s dissatisfaction. Errors and Omissions (E&O) insurance has many names. For some healthcare professionals, it's called malpractice...

How to Make the Tax Code Work for You

When you take the time to learn more about how it works, you may be able to put the tax code to work for you. By April 11, 2025, over 117 million taxpayers had dutifully filed their federal income tax returns. And they all made...

Eight Mistakes That Can Upend Your Retirement

There are common mistakes you can avoid when saving for retirement. Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if...

The Pre-Retirement Checklist

This checklist can give you a quick snapshot of how prepared you are... Getting ready for retirement? Before you can cross that bridge, you’ll need to cross some important items off your to-do list. But thanks to our work together, you...

What You Should Do About Insurance Following a Divorce

In the face of divorce, making changes to insurance coverage may be overlooked. Divorce can be an emotionally and financially challenging life event. In the face of the many possible adjustments divorce entails, making changes to...

Insurance Needs Assessment: When You're Young and Single

Even if you’re young and single, you should still consider protecting yourself. The transition to adulthood is an exciting new stage that marks true independence. You may have graduated college, taken your first job, and even rented...

IRA Withdrawals that Escape the 10% Tax Penalty (updated for 2025)

The list of IRA withdrawals that may be taken without incurring a 10% early penalty has grown. The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is...

Deciding When to Take Social Security

One of the most common questions people ask about Social Security is when they should start taking benefits. Making the right decision for you can have a meaningful impact on your financial income in retirement. Before considering how...

Three Key Questions to Answer Before Taking Social Security (updated for 2025)

When to start? Should I continue to work? How can I maximize my benefit? Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three...

How to Appeal Your Property Taxes

For homeowners who think their property taxes are too high, there are ways to appeal. Between 30 percent and 60 percent of taxable property has an inflated assessment, which may lead to higher property tax bills. For homeowners who...

Four Reasons Millennials Need an Estate Strategy

Estate strategies for millennials may sound like less of a concern than retirement, but young adults should prepare now. You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need...

Social Security Fairness Act's New Chapter

Keep up to date with the implementations of the Social Security Fairness Act and what timelines to expect. The Social Security Fairness Act, signed into law in December 2024, adjusts two longstanding provisions that previously reduced...

Are You Ready for Your Portfolio to Make a Difference?

Learn about the rise of Impact Investing and how it may benefit you. Interest in making an impact with one’s investments has grown in recent years, which means many investors may have an increased interest in environmentally or...

When Heirs are Imperfect

The money problems or bad lifestyle habits of adult children could lead to the squandering of any inheritance they receive. Passing your estate to an heir with credit problems or a gambling or alcohol addiction might not only lead to...

Fixed or Variable Mortgage, Which Should You Pick?

When selecting a mortgage, one of the most critical choices is between a fixed or variable interest-rate mortgage. Buying a home is the single-largest financial commitment most people ever make. And sorting through mortgages involves a...

What It Takes to Become an Accredited Investor

What does it take to be an accredited investor? Explore the details, & the types of investments offered to those who qualify. For the average investor, the financial landscape can sometimes feel like a complex maze with limited access...

Traditional vs. Roth IRA - Updated for 2025

One or the other? Perhaps both traditional and Roth IRAs can play a part in your retirement plans. Traditional Individual Retirement Accounts (IRAs), which were created in 1974, are owned by roughly 41 million U.S. households. And Roth...

Changing Unhealthy Behaviors

Five phases to changing unhealthy behaviors. Most Americans know the fundamentals of good health: exercise, proper diet, sufficient sleep, regular check-ups, and no smoking or excessive alcohol. Yet, despite this knowledge, changing...

Estimating the Cost of College

Estimate the costs of a four-year college program. It doesn’t take a degree in finance to see that the cost of college continues to rise. In its 2023 report, the College Board showed that in-state tuition and fees at private non-profit...

Where Will Your Retirement Money Come From?

Retirement income may come from a variety of sources. Here's an overview of the six main sources. What workers anticipate in terms of retirement income sources may differ considerably from what retirees actually experience. For many...

Retirement Strategy After a Job Loss

Few events are more stressful and disruptive than an unexpected job loss or layoff. For many, it’s a hit not just to finances but also to confidence and sense of self. You're not alone if you’ve been laid off—or if the idea is an...

How the SECURE Act 2.0 Changed RMDs

Understand the impact of the SECURE Act 2.0 on their required minimum distributions and how a QCD works. In the final days of 2022, Congress passed the SECURE Act 2.0, a new set of rules designed to help investors who wanted to...

Can I Create a Roth if I’m Over the Income Limit?

The “backdoor” Roth IRA strategy. Yes, you might be able to create a Roth individual retirement account (IRA) if you’re over the income limit. This strategy involves converting a traditional IRA to a Roth IRA. The idea, often referred...

New Retirement Contribution Limits for 2025

A look at the new, record-high retirement contribution limits from the IRS. The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Keep in mind that this update is for...

Inflation & Your Money

It's important to understand how inflation is reported and how it can affect investments. "If the current annual inflation rate is 3 percent, why do my bills seem like they're 10 percent higher than last year?"1 Many of us ask...

Understanding Qualified Charitable Distributions

Use this handy, informative article to help your clients understand Qualified Charitable Distributions (QCDs). As you build your legacy, considering how to leverage your charitable contributions can be a fulfilling endeavor. Qualified...

Can Group, Private Disability Policies Work Together?

Loss of income from disability has the potential to cause financial hardship. Disability insurance can help. According to the Social Security Administration, a 20-year-old has more than a 25% chance of becoming disabled before...

Building Your Legacy

A four-step framework for building a personal legacy. “Carve your name on hearts, not tombstones. A legacy is etched into the minds of others and the stories they share about you.” - Shannon L. Alder The desire to leave a legacy may be...

A Brief Guide To Condo Insurance

Important items to consider when purchasing condo insurance. The ownership structure of a condominium unit is different from that of a single family house. Here’s what you need to know when purchasing insurance for your condo.1 1....

What is the Value of Your Business?

Ascertaining the value of your business is important for a variety of reasons. In the second quarter of 2023, more than 2,300 small businesses were sold. The median sale price was roughly $300,000, down 14% from the same time last year...

When Does Your Personal Car Become a Commercial Vehicle?

At what point can you call a personal vehicle commercial? For small business owners, the line between the personal and their business can be a bit hazy at times. Yet, when it comes to a vehicle that may be used for personal and...

You May Need to Make Estimated Tax Payments If…

Have income that isn’t subject to tax withholding? Or insufficient withholdings? You may have to pay estimated taxes. You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income...

Medicare Advantage 101

Overview of Medicare Advantage, what’s in them, special rules, and more. Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for those who are ready to sign up for Medicare. Medicare Advantage plans are...

What Is a 1035 Exchange?

1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability. According to the most recent information available, Americans have individual life insurance with a total face...

Strategies for Managing Student Loan Debt

Five strategies for managing your student debt. If college were a party, then student loans are the hangover. Unfortunately, the "hair of the dog" won't cure this headache, but here are some ideas for managing your student loan debt....

Diversification, Patience, and Consistency

Three important factors when it comes to your financial life. Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t put all your eggs in one...

Conquering Retirement Challenges for Women

Looking ahead can help you conquer these unique obstacles. When it comes to retirement, women may face unique obstacles that can make saving for retirement more challenging. Given that women typically live longer than men, retirement...

Choosing a Retirement Plan that Fits Your Business

To choose a plan, it’s important to ask yourself four key questions. If you have yet to develop a retirement plan for your business, or if you're not sure the plan you've chosen is the right one, here are some things to consider. How...

Split Annuity Strategy

Here's one strategy that combines two different annuities to generate income and rebuild principal. When financial markets turn volatile, some investors show their frustration by fleeing the markets in search of alternatives that are...

Making a Charitable Gift

Did you know that there are benefits and limitations when you decide to donate stock? Learn more about your options. Key Takeaways Some universities and major hospitals have huge endowments while your local shelter may struggle to keep...

Assess Life Insurance Needs

How to help determine life insurance needs to provide for your family after you pass away. If your family relies on your income, it's critical to consider having enough life insurance to provide for them after you pass away. But too...

Monthly Memberships

A look as how autopay subscriptions can be a drain on your finances, especially when forgotten. In the last few years, we’ve become accustomed to many convenient services, many offered via subscriptions. Now, in the old days, if you...

Disability And Your Finances

In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings. The Social Security Disability Insurance program paid out over $150 billion in benefits in 2023. And with new...

What Do Your Taxes Pay For?

Here's a breakdown of how the federal government spends your tax money. Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money. The average household spends more on...

When Should You Take Social Security

Monthly Social Security payments differ substantially depending on when you start receiving benefits. The Social Security program allows you to start receiving benefits as soon as you reach age 62. The question is, should you? Monthly...

When To Self-Insure

Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails? One reality of life is that risk is ever present. It exists in our commute to work, in our investment choices, and in our...

Stop Wasting Money

One way to find money is to examine your current spending habits and eliminate money wasters. Benjamin Franklin once said, “a penny saved is a penny earned.” One way to find the money to meet your spending or saving needs is to examine...

Medicare Vs. Medicaid

The terms Medicare and Medicaid sound similar but are two very different things. Learn the differences in this informative article. Medicare and Medicaid are two separate, government-run programs. They are operated and funded by...

A Home Insurance Claim: To File Or Not To File

Learn when it may not make sense to file a claim on your home insurance. Insurance is meant to protect you against financial loss. But is it really meant to protect you from any and all financial loss? When it comes to filing a loss...

A Primer On Irrevocable Life Insurance Trusts

Irrevocable life insurance trusts can be important tools that may accomplish a number of estate objectives. "I'm proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money." Entertainer...

Required Reading: The Economic Report Of The President

The Economic Report of the President can help identify the forces driving — or dragging — the economy. In March, the White House released its 482-page book, "Economic Report of the President (2024)." If you haven't yet made time to...

Is A SEP-IRA Right For Your Business?

For some, the idea of establishing a retirement strategy evokes worries about complicated reporting and administration. If you're like many small business owners, running your own business is an all-consuming endeavor. In the face of...

Are You Prepared For An Estate Tax Sunset?

The federal estate tax exemption sunsets in 2025. Learn more about what to do to make the most of the higher threshold. The federal estate tax threshold rose to $27.22 million in 2024 for married couples and $13.61 million for...

Consider Keeping Your Life Insurance When You Retire

Reasons to retain your coverage into your retirement years. Do you need a life insurance policy in retirement? One school of thought questions this decision. Perhaps your kids have grown, and the need to help protect the household...

Choosing A Business Structure

Entrepreneurs all face the same question, “Which business structure should I adopt?” According to the U.S. Census Bureau, there were over five million new business applications submitted in 2022 alone. All individuals pursuing the...

Intellectual Property Rocks In A New Digital Era

Intellectual property ownership and its implications for ordinary people and estates. How will your IP work for you in your retirement and beyond? In 2023, the music industry witnessed a groundbreaking shift, as iconic bands like ABBA,...

How Insurance Deductibles Work

Knowing how insurance deductibles work can help you save money. An insurance deductible is the amount you, the insured, pay before any claim is paid by your insurance carrier. Depending upon the type of insurance, a policy may set the...

4 Steps to Protecting A Child With Disabilities

Planning for a child with special needs can be complicated, confusing, and even overwhelming. Raising a child is expensive and can cost over a quarter of a million dollars, excluding college. For a child with special needs, that cost...

How Will The Economy React To AI?

What do concerns or uncertainty about AI mean for your future and your financial strategy? Artificial intelligence (AI) tools are already invading every aspect of our lives. Debates are ongoing about how it will infiltrate individual...

Grantor Retained Annuity Trusts (GRATs)

Explaining Grantor Retained Annuity Trusts (GRATs) and their benefit to estate strategy. Suppose your financial objectives include income and leaving a legacy for your heirs. In that case, it's essential to work with a financial...

Prescription Drug Benefits Under Medicare (Part D)

Do you need to enroll in Medicare Part D? Read this article to learn more about whether you need this coverage Medicare’s prescription drug benefit (Part D) is the part of Medicare that provides outpatient drug coverage. Part D...

Medicare Advantage Plans (Medicare Part C)

Medicare Part C allows you to choose a Medicare Advantage plan. This article will help you decide if it's right for you. Medicare Part C is not a separate benefit. Part C is the part of Medicare law that allows private health insurance...

Does Your Portfolio Fit Your Retirement Lifestyle?

Lifestyle considerations in creating your retirement portfolio. Most portfolios are constructed based on an individual's investment objective, risk tolerance, and time horizon. Using these inputs and sophisticated...

Does Your Credit Score Affect Your Insurance Rates?

Your credit score may influence how much you pay for auto and home insurance. While the vast majority of insurance companies use credit-based insurance scores to help determine the price of insurance, it is banned in the states of...

Counteracting Capital Gains With Tax-Loss Harvesting

You may have heard the phrase "tax-loss harvesting." A financial professional may be able to provide some guidance. Tax-loss harvesting means taking capital losses (selling securities for less than what you initially paid for them) to...

Countdown To College

Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way. As a parent, you of course want to give your child the best opportunity for success, and for many, attending the "right"...

New Retirement Contribution Limits For 2024

A look at the new, record-high retirement contribution limits from the IRS. The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Keep in mind that this update is for...

Roth IRA For Kids

Learn about the benefits and requirements of opening a Roth IRA for kids. Small business owners may find it challenging to find ways to provide additional benefits to their children who work for the company. One often overlooked choice...

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.  Driving may be a rite of passage for teenagers, but for parents, having a teenage driver can be stressful and expensive. Your child will need auto insurance coverage as soon as they receive...

Caring for Aging Parents

As our nation ages, many Americans are turning their attention to caring for aging parents. Thanks to healthier lifestyles and advances in modern medicine, the worldwide population over age 65 is growing. In the past decade, the...

Do Your Kids Know The Value Of A Silver Spoon?

You taught them how to read and how to ride a bike, but have you taught your children how to manage money? The average debt for student borrowers is $40,499. And nearly 11% of new graduates will default within the first twelve months...

White Elephant Inheritance

This article deals with how one might deal with a burdensome inheritance. Have you ever had to deal with a "white elephant"? Not the actual pachyderm, but what Merriam-Webster calls "a property requiring much care and expense...

How Boomers and Millennials Differ

The YOLO Economy is a focus on experiences over material possessions, prompting Boomers to consider a similar mindset.   We are in the midst of an unprecedented transfer of wealth, with trillions of dollars being moved from one...

Retirement Plan Choices for Small Businesses

Retirement choices can be intimidating. Picking the right strategy.   As a small-business owner, figuring out retirement choices can be a little intimidating. How do you pick the most appropriate retirement plan for your business...

Exploring The Federal Student Grant Program

In this article, explore the benefits of the Federal Student Grant Program.   You may have heard of the Free Application for Federal Student Aid, or FAFSA, if you or someone you know has plans to attend a college, career school,...

What If Your Kids Decide Against College?

Rising college costs prompt students to seek alternatives; 529 account funds can be used for other education options.   As a parent or grandparent, you may have diligently saved money in a 529 account to help fund your child's or...

Social Security: Five Facts You Need to Know

Here are five facts about Social Security that are important to keep in mind.   Social Security can be complicated, and as a result, many individuals don't have a full understanding of the choices they may have. Here are five...

Intellectual Property And Your Estate

Do you have intellectual property? Consider how you might include your IP into your estate strategy.   Among the many considerations to ponder when forming your estate strategy, intellectual property (IP) is among the more...

Should I Accept A Free Credit Lock?

Learn the ins and outs of credit locks, freezes, and more. In today's increasingly connected world, protecting your information is arguably more important than ever. Your credit report consists of a slew of personal details, such as...

Understanding Marginal Income Tax Brackets

An inside look at how marginal income tax brackets work. By any measure, the tax code is huge. It is over 2,000 pages long, and even longer with footnotes.1 And almost weekly, the Internal Revenue Service publishes a 20- to 50-page...

Making A Charitable Contribution

There are benefits and limitations when you decide to donate stock. Why sell shares when you can gift them? If you have appreciated stocks in your portfolio, you might want to consider donating those shares to charity rather than...

Estate Strategies Of The Rich And Famous

The examples of famous celebrities underline the need for a clear estate strategy. How the Queen of Soul, the Lizard King, and Other Celebrities Determined Their Legacies    Famous people are all too human. Tabloid newspapers...

Choices for Your 401(k) at a Former Employer

Individuals have three basic choices with the 401(k) account they accrued at a previous employer.   One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what...

Buying vs. Leasing a Car

Whatever your relationship with your car, it may eventually come time for a new one. Familiarize yourself with your options.   Some people approach buying a car like they approach marriage, "'til death do us part." Others prefer...

A House Divided

By understanding a few key concepts during a divorce, you may be able to avoid common pitfalls. The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult...

A Bucket Plan to Go with Your Bucket List

Longer, healthier living can put greater stress on retirement assets; the bucket approach may be one answer.   John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean...

Financially Savvy at Six Figures

Help your clients with these practical steps to make the most of their six-figure income. Reaching six figures is no easy feat. If you’re one of the hard-working few who have made it to this milestone, give...

Life and Death of a Twenty Dollar Bill

How long does a $20 bill last? The government prints millions of notes a day. Here's a quick look at what goes into creating a $20 bill and what determines when a bill's lifespan ends.1 PaperA $20 bill starts out life as part of a...

How Women Can Prepare For Retirement

Are women prepared for a 20-year retirement? How Women Can Prepare For RetirementWhen our parents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. The Social Security...

AI Tools Changing Retiree Entrepreneurship

The impact that Artificial Intelligence (AI) tools can have on retirees with a consulting or small business venture. Artificial intelligence (AI) tools have become a game changer in various industries, and they are also proving...

Estate Management Checklist

Is your estate in order? This short quiz may help you assess your overall strategy. Do you have a will? A will enables you to specify who you want to inherit your property and other assets. A will also enables you to name a guardian...

Retiring Wild: National Parks And You

Get ready to enjoy America’s national park system with this helpful article. For many older adults, finding time to experience nature can be one of the greatest pleasures in retirement. And what better place to take in America's...

Financial Aid For Students 101

Help your college-bound child explore scholarships, grants, and more with this article on paying for higher education. Preparing for college while still in high school can be difficult for even the most academically-minded student....

Money That Buys Good Health Is Never Ill Spent

It's important to make sure your retirement strategy anticipates health-care expenses.According to the Kaiser Family Foundation, the average person covered by Medicare has out-of-pocket medical expenses in excess of $5,400 a year....

Retiring Earlier Than Expected? What To Know

Retiring earlier than expected can be disheartening. Learn steps that can help you smoothe the road ahead.Many Americans, through circumstances beyond their control, find themselves needing to retire earlier than anticipated. Whatever...

Net Unrealized Appreciation (NUA) Explained

Have you considered the special tax treatment on company stock held in a 401(k) plan?If you have built up company securities within your employer-sponsored retirement plan, you may find yourself with a range of choices when the time...

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for...

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a...

Yours, Mine, And Ours: Estate Strategies For Second Marriage

Second marriages are a trigger event to revisit any existing estate strategies.If you are one of the many Americans who are in a second marriage, you may need to revisit your estate strategy.1Unlike a typical first marriage, second...

Medicare At 65+

65 or older? It may be time to enroll in Medicare. Read to learn if you’re eligible.When you turn 65, you become eligible for Medicare if you:Either receive or qualify for Social Security retirement cash benefitsOr, currently...

Avoiding Cognitive Decline

Try these activities to keep your brain sharp.Of those aged 65 and older, 15 to 20 percent have mild cognitive impairment. People living with mild cognitive impairment are more likely to develop Alzheimers, and almost two-thirds of...

The Cost of Procrastination

Don't let procrastination keep you from pursuing your financial dreams and goals.Some of us share a common experience. You're driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer...

A Brief History of Estate Taxes

Federal estate taxes have long since been a lucrative source of funding for the federal government. Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded.In 1797, Congress...

What's New For Social Security?

There have been a number of changes to Social Security that may affect you, especially if you are nearing retirement.Whether you’re applying for Social Security in the future or currently receiving benefits, there are some...

Social Security: The 64,000 Dollar Question

One of the most common questions people ask about Social Security is when they should start taking benefits.This is the $64,000 question. Making the right decision for you can have a meaningful impact on your financial income in...

Systematic Withdrawals in Retirement

Taking regular, periodic withdrawals during retirement can be quite problematic.Many of us grew up with the concept that making regular, periodic contributions to our retirement account was a sound investment strategy. The idea was...

The Sequence Of Returns

What exactly is the "sequence of returns"? The phrase describes the yearly variation in an investment portfolio's rate of return. But what kind of impact do these deviations from the average return have on a portfolio's final...

Starting A Roth IRA For A Teen

Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how doing this may benefit both of you.Rules for setting up a Roth IRA. If your teen has an earned...

The Investment Risk No One’s Ever Heard Of

You face a risk for which the market does not compensate you, that can not be easily reduced through diversification.Knowledgeable investors are aware that investing in the capital markets presents any number of risks, including...

The Lowdown On Those Free Credit Scores

What’s the deal with your yearly free credit report?The Fair and Accurate Credit Transaction Act of 2003 provided individuals with valuable rights to the credit information companies keep on them, but did you know that the credit...

Understanding The Basics Of Medigap Policies

Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years.Medicare coverage can be a critical component for living a healthy life in retirement, as well as for...

Managing an Inheritance

A windfall from a loved one can be both rewarding and complicated.Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many...

All Muni Bonds Are Not Created Equal

Gaining a better understanding of municipal bonds makes more sense than ever.The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the...

U.S. Personal Savings Rate

What can be learned from the savings rate?The U.S. personal saving rate stood at 3.4 percent at the end of 2022, down from the 7.5 rate at the end of 2021.The personal saving rate is the federal government's estimate of what...

Understanding FDIC Insurance

It's natural to wonder exactly how a bank safeguards your money. Fortunately, the Federal Deposit Insurance Corporation (FDIC) insurance exists for this very reason: to help protect your funds once deposited. Read on to explore the...

Debt Stress

The average American owes $52,940 in debt. Of that $52,940, $36,730 is from mortgage debt, $5,730 is from student loans, and $5,000 is from auto loans. Little wonder that money worries can be a major cause of stress.1The Link Between...

The Pros and Cons of a NUA Strategy

Employer-issued stocks can be one attractive benefit an employer can offer. But while it has its benefits, it's natural to wonder what happens if you leave that job.That's where net unrealized appreciation (NUA) strategies can...

The Business Cycle

What has upswings and downturns, troughs, peaks, and plateaus? Though such terms could easily describe a roller coaster ride, they are also commonly used to describe the business cycle.The business cycle – also known as the...

Social Security Benefits: How Much Will I Receive

Next to “When should I claim Social Security benefits?”, one of the more common questions people have is “How much will I receive?”Calculating your potential Social Security benefit is a three-step process:1...

Social Security: The Elephant in the Room

For most Americans, Social Security has represented nothing more than some unavoidable payroll deduction with the positively cryptic initials of “FICA” and “OASDI” (Federal Insurance Contributions Act and Old...

Navigating Retirement Pitfalls

Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to plague retirees, too.Calling them “missteps” may...

Succeeding at Business Succession

According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of family businesses have no formal succession plan.1 While the number may shock you, it is not...

Pay Yourself First

Each month, you settle down to pay bills. You pay your mortgage lender. You pay the electric company. You pay the trash collector. But do you pay yourself? One of the most basic tenets of sound investing involves the simple habit of...

Asset Allocation

If you live in or have visited a big city, you’ve probably run into street vendors – people who sell everything from hot dogs to umbrellas – on the streets and sidewalks. Many of these entrepreneurs sell completely...

A Primer on Dividends

A company's profits can be reinvested or paid out to the company’s shareholders as “dividends."When looking for income-generating investments, some investors turn to dividend-yielding stocks.When a company makes a profit,...

What Is a Roth 401(k)?

While many people are familiar with the benefits of traditional 401(k) plans, others are not as acquainted with Roth 401(k)s.Since January 1, 2006, employers have been allowed to offer workers access to Roth 401(k) plans. And some have...

Find That Lost Retirement Account

Find That Lost Retirement AccountDo you have a long-lost retirement account left with a former employer? Maybe it’s been so long that you can’t even remember. With over 24 million “forgotten” 401(k) accounts...

The Anatomy of an Index

Did you know that an estimated $13.5 trillion in assets are indexed or benchmarked to the Standard & Poor's 500 Composite Index, including $5.4 trillion in index assets?1,2The S&P 500 is ubiquitous – we see it on the news, read...

Tax Rules When Selling Your Home

How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of these new rules.Home SaleIf you owned and lived in...

Social Security: Maximizing Benefits

Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don’t know that there are other ways to maximize their benefits, some of which depend on their marital status...

The A, B, C, & D Of Medicare

Breaking down the basics.Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care decisions...

Do You Owe The AMT?

American educational reformer Horace Mann called education “the great equalizer.” In football, it’s been said that turnovers are the great equalizer. In taxes, there’s also an equalizer of sorts; it’s...

New Retirement Contribution Limits for 2023

The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached...

Filing Final Tax Returns For The Deceased

When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes.Unfortunately, even the deceased can’t escape taxation. If the departed...

How Income Taxes Work

The Internal Revenue Service estimates that taxpayers and businesses spend about 8 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done by a single company, it would need...

IRA Withdrawals that Escape the 10% Tax Penalty

The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other...

What Can You Buy With 529 Distributions

Some of the biggest challenges many face when it comes to education are financial. Luckily, a 529 college saving plan can help. And they're not just for college anymore - added to the tuition eligibility are K-12, private and religious...

The ABCs of Zero Coupon Bonds

At first blush, the idea of a bond that doesn’t pay interest seems oxymoronic. After all, isn’t a bond a debt instrument that pays periodic interest and repays the principal at maturity?1Zero coupon bonds are indeed debt...

How Retirement Spending Changes With Time

New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern may be legitimate. Some households "live it up" and spend more than they anticipate...

A Look at Diversification

Ancient Chinese merchants were said to have developed a unique way to manage their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a...

A Taxing Story: Capital Gains and Losses

Chris Rock once remarked, "You don't pay taxes – they take taxes." That applies not only to income but also to capital gains.Capital gains result when an individual sells an investment for an amount greater than their purchase...

Countering Counterfeit Currency

Believe it or not, the agency responsible for protecting U.S. currency is the United States Secret Service. The agency was founded on July 5, 1865, as part of the Department of the Treasury to combat the widespread counterfeiting of...

Healthcare Costs in Retirement

In a 2021 survey, 32% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to pay for their medical expenses in retirement. Regardless of your confidence...

Catch-Up Contributions

A recent survey found that 23% of people were very confident about having enough money to live comfortably through their retirement years. At the same time, 33% were not confident.1 Congress in 2001 passed a law that can help...

9 Facts About Social Security

Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? Here are nine things that might surprise you.The Social Security trust...

Managing the Risk of Outliving Your Money

"What is your greatest retirement fear?"If you ask some pre-retirees this question, "outliving my money" may be one of the top answers. In fact, 42% of workers say they fear outliving their savings and investments.1Retirees face...

Retirement Is a Beginning

How do you know you are psychologically ready to retire? As a start, ask yourself four questions.One, is your work meaningful?If it is emotionally and psychologically fulfilling, if it gives you a strong sense of purpose and identity,...

Your Shifting Risk Tolerance

When you created your investment strategy, your asset allocation should have reflected your goals, time horizon, and tolerance for risk.But over time, any of those three factors may have changed, and your portfolio may now need...

Preparing for the Expected

 As Teddy Roosevelt once observed, “Old age is like everything else. To make a success of it, you've got to start young.”1The challenges seniors have met throughout their lives have made them wiser and stronger,...

Gap Insurance for Leased Cars

One of the attractions of leasing a car is that it generally requires a much smaller upfront outlay of cash compared to what purchasing a car might require.This preference to minimize an upfront cash payment may mean that some...

Four Steps to Valuing an Estate

Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.1How to Assess the Value of an EstateSelect the date of calculation. Because values...

Global vs. International: What's The Difference?

With international stock markets comprising about 45.5 percent of the world’s capitalization, a broad range of investment opportunities exist outside the borders of the U.S.1For investors who are looking to diversify their mutual...

Do Our Biases Affect Our Financial Choices?

Investors are routinely warned about allowing their emotions to influence their decisions. However, they are not often cautioned about their preconceptions and biases that may color their financial choices. In a battle between the...

Does Your Child Need to File an Income Tax Return?

As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn?The IRS does not exempt...

Emotional vs. Strategic Decisions

Information vs. instinct. When it comes to investing, many people believe they have a “knack” for choosing good investments. But what exactly is that “knack” based on? The fact is, the choices we make with our...

Five Most Overlooked Tax Deductions

Who among us wants to pay the IRS more taxes than we have to?While few may raise their hands, Americans regularly overpay because they fail to take tax deductions for which they are eligible. Let’s take a quick look at the five...

Important Birthdays Over 50

Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last.When you are older, “and-a-half”...

Retirement Questions That Have Nothing to Do With Money

Preparing for retirement is not entirely financial. Your degree of happiness in your "second act" may depend on some factors that don't come with an obvious price tag. Here are some non-monetary factors to consider as you prepare for...

When Life Insurance Becomes Taxable

Four Really Good Reasons to Invest

Forty-four percent of Americans do not own any stocks or stock-related investments, according to a recent Gallup poll.1 Individuals may cite different reasons for not investing, but with important long-term financial goals, such as...

Building a Solid Financial Foundation

When you read about money matters, you may see the phrase, “getting your financial house in order.” What exactly does that mean? To some, when your financial “house is in order,” it means it is built on a solid...

A Living Trust Primer

A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. What is a Living Trust? A living trust is created while you are alive and...

Problems with Probate

Many of us hope to leave something behind for our loved ones when we pass away. But the probate process is complex. To understand how to better manage potential probate fees, let’s explore what probate is and how the process...

Best-Performing Asset Classes

Will Power

Only one-third of adults have a will in place, which may not be entirely surprising. No one wants to be reminded of their own mortality or spend too much time thinking about what might happen once they’re gone.1 But a will is an...

Separating the Signal From the Noise

What kind of role can a financial professional play for an investor? The answer: an important one. While the value of such a relationship is hard to quantify, the intangible benefits may be long-lasting. There are certain investors who...

Orchestrating Your Retirement Accounts

An orchestra is merely a collection of instruments, each creating a unique sound. It is only when a conductor leads them that they produce the beautiful music imagined by the composer. The same can be said about your retirement...

How the Federal Reserve Works

Have you ever taken a close look at paper money? Each U.S. bill has the words “Federal Reserve Note” imprinted across the top. But many individuals may not know why the bill is issued by the Federal Reserve and what role...

What's So Great About a Rollover?

Changing jobs can be a tumultuous experience. Even under the best of circumstances, making a career move requires a series of tough decisions, not the least of which is what to do with the funds in your old employer-sponsored...

How Will Working Affect Social Security Benefits

In a recent survey, 68% of current workers stated they plan to work for pay after retiring.1 And that possibility raises an interesting question: how will working affect Social Security benefits? The answer to that question requires an...

Don’t Be Your Own Worst Enemy

One of the most well-known investors of the 20th Century, Benjamin Graham, said that “the investor’s chief problem—and even his worst enemy—is likely to be himself.”1 What Graham understood—and...

Budget Check up: Tax time is the right time

Every year, about 150 million households file their federal tax returns. For many, the process involves digging through shoe boxes or manila folders full of receipts; gathering mortgage, retirement, and investment account...

3 Estate challenges for blended families

Preparing your estate can be complicated, and if you’re a part of a blended family, estate decisions can be even more complex and nuanced. Blended families take on many forms, but typically consist of couples with children from...

A Checklist for When a Spouse or Parent Passes

When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a...

And the Executor Is...

U.S. Supreme Court Justice Warren Burger is famous for more than just his time on the bench. When he died in 1995, he left a 176-word will that gave no specific power to his executors.1 As a result, he reportedly cost his estate tens...

A Brief History of Estate Taxes

Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded. In 1797, Congress instituted a system of federal stamps that were required on all wills offered for probate when property...

9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend...

The Power of the Consumer

In recent months, consumer confidence has been falling. A confident consumer can be a powerful ally in an economy. But when the consumer starts to have questions, we can measure consumer confidence in everything from retail sales to...

Is Inflation Peaking

One lesser-known indicator is called the Baltic Dry Index. You see it in prices at the grocery store and the gas station. You feel it in your monthly budget. So why don’t the financial markets seem too concerned about inflation?...

When Bad News Is Good News

A surprising reaction to tapered bond purchases. Financial markets can be challenging to understand. But when markets enter a “bad news is good news” cycle, it becomes even more difficult to follow along. At its November...

Biden Signs Infrastructure Bill

The bill will create jobs in many parts of the country. At the White House on Monday, November 15th, President Biden signed a $1T bipartisan infrastructure set to enable enhancements for transportation and utilities over the next five...

2022 Contribution Limits

2022 Contribution Limits Is it time to contribute more? Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for...

Proposed Tax Changes in Congress

If passed, the $3.5 trillion Build Back Better Act would alter some federal tax rates. Investors are watching the Build Back Better Act. This $3.5 trillion bill, refined through months-long negotiations, may be approaching a final vote...

401(k) Millionaires

What does this mean for your overall retirement strategy? Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially...

End-of-the-Year Money Moves

Here are some things you might consider before saying goodbye to 2021. What has changed for you in 2021? For some, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s...

Ready for Medicare Open Enrollment?

Enrollment period began October 15. Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year....

The Social Security Administration Announces 2022 COLA

5.9% is the biggest COLA increase in decades. On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the...

Will Fed Chair Powell Get a Second Term?

Everything is on the negotiating table, including Powell’s future. Financial markets tend to function best when they have clear, strong leadership. When there’s concern about who’s the boss, markets can struggle....

Could Custodial IRAs Help Young Adults Buy Homes?

Some parents and grandparents have that possibility in mind. Individual Retirement Arrangements (IRAs) are for retirement saving, right? Absolutely. Is that their only purpose? Not necessarily. Imagine using an IRA not only to save,...

FAFSA Simplification Act

Learn how legislative changes can help you finance your loved one’s education. As a parent or grandparent, you know firsthand the challenges of funding a child’s education. The Free Application for Federal Student Aid...

The Need for Power of Attorney

POAs and other advanced directives are becoming more important. The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is...

The Fed Can’t Keep a Secret

Are the Fed presidents telling tales out of school? If you have a secret, don’t tell anyone at the Federal Reserve Bank. They may leak the story before you’d like. In early August, multiple regional Federal Reserve Bank...

The September Effect

Investors ending their fiscal year can lead to some market weakness. The stock market notched its 7th straight month of gains in August, and the Standard & Poor's 500 index has set 53 new highs so far in 2021.1 During August, stocks...

How U.S. Savings Bonds Work

How to keep track of your savings bonds’ maturity dates. Did you buy U.S. Savings Bonds decades ago? Or did your parents or grandparents purchase them for you? If they’re collecting dust in a drawer, you may want to take a...

The Expanded Child Tax Credit

The federal government has upgraded its Child Tax Credit. Thanks to the American Rescue Plan Act, there are four notable differences in effect for the 2021 tax year only.1 First, the Internal Revenue Service is paying many families who...

Mixed Signals on Inflation

What to know as markets look forward. Are you having a tough time keeping track of inflation's mixed signals? You’re not alone. Consumer prices in July climbed at their fastest rate since August 2008. Worse, producer prices,...

The Wall of Worry

You've got plenty of choices these days. Have you ever heard the Wall Street expression, "markets climb a wall of worry?" It's the idea that financial markets are constantly on edge. Traders fret about how long a market rally can...

College Funding Choices

Explore the different ways you can help finance the costs of higher education. How can you help cover your child’s future college costs? Saving early (and often) may be key for most families. Here are some college savings...

Inflation & the Real Rate of Return

Is your money gaining or losing purchasing power? The real rate of return is an important personal finance concept to understand. It’s the rate of return on your investments after inflation. The real rate of return indicates...

Inflation Can Be a Scary Word

There are compelling reasons to adopt a wait-and-see approach. Inflation can be a scary word for people who are retired. It’s code for “prices are going up, but my income may stay the same.” The most recent reading on...

A COLA with Your Social Security?

Preliminary estimates call for a 4.7% cost-of-living increase.1 If there is a "silver lining" to all the inflation talk, it may be that Social Security benefits are expected to see a larger-than-normal increase in 2022. Preliminary...

Are You Ready for the Second Act of the S.E.C.U.R.E. Act

Some potential benefits of the Securing a Strong Retirement Act. Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the...

A Seven-Year High for Gas Prices

Things in America are returning to something like a pre-COVID normal. Over Memorial Day weekend, gasoline prices hit the highest for this holiday weekend since 2014.1 With the Colonial Pipeline outage in the rear-view mirror and an...

Summer Travel is Back

Summer travel stats show an industry in recovery. One of the most anticipated comebacks of 2021 isn’t an athlete, rock star, or movie franchise. It’s summer travel, and it appears to be back with a vengeance. Travel agents...

The Fed Acknowledges Inflation

As inflation climbs, the Fed reacts. At its June meeting, the Federal Reserve confirmed what many of us have suspected for some time: prices are rising. In fact, prices are climbing faster than many expected. In response, the Fed...

The Fed's Taper Rehearsal

The talk is of tapering, and it’s making investors nervous. The Federal Open Market Committee (FOMC) released the minutes of its April meeting last week. The report suggested that should the economy continue to make progress, it...

Buffett and Powell Talk Inflation

The Oracle of Omaha and the Fed Chair seem to be at odds. What does it mean when two of the most powerful voices in American financial life seem to be saying two different things? In one corner, we have the “Oracle of Omaha...

2021 Retirement Confidence Survey

A deep dive into workers' expectations in retirement versus actual income sources. Will your retirement dreams match your reality? That's perhaps the most critical question to ask people who are currently retired. Was your retirement...

Cyberattack, CPI Hit In the Wallet

Long lines and closed gas stations in many regions. A cyberattack shut down a major gas and energy pipeline supplying the East Coast of the United States for several days. The actual pipelines themselves are still functional and have...

Debate Starts on Capital Gains Tax

What to expect and why. Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6%...

Measuring the Value of a Financial Professional

Findings suggest that these relationships can make a difference for investors. What is a relationship with a financial professional worth to an investor? A 2019 study by Vanguard, one of the world’s largest money managers,...

The Whims of Wall Street

What to know about shifting market attention, and investor burnout. It can be exhausting trying to keep up with the whims of Wall Street. Lately, the financial markets have been fixated on federal taxes and what may be proposed on...

“Green Shoots” in the Economy

Some examples to consider. Investors looking for "green shoots" to confirm that the economy is on the mend have seen plenty of examples in recent weeks. Retail sales rose 9.8% in March, the largest monthly gain since May 2020. It's...

Inflation Boogeyman

What to keep in mind as inflation fears rise. Inflation has emerged as one of the top financial concerns for investors as they size up the economy for the rest of the year. According to research by Deutsche Bank, Google searches for...

Investing During Periods of Inflation

What does inflation mean for your investments? In August of 2020, the Fed announced that it is willing to allow inflation to run higher than normal in order to support the labor market and broader economy. This major policy shift...

The American Rescue Plan Makes FSAs a Little More Flexible

The act boosts the amount that companies can allow workers to deposit. For those with a Dependent Care Flexible Spending Account (FSA), there may be some good news on the horizon. The American Rescue Plan Act, signed into law by...

Retirement Seen Through Your Eyes

After you leave work, what will your life look like? How do you picture your future? If you are like many contemplating retirement, your view is likely pragmatic compared to that of your parents. That doesn’t mean you must have a...

Tax Efficiency in Retirement

What role should taxes play in your investment decisions? Will you pay higher taxes in retirement? Do you have a 401(k) or a traditional IRA? If so, you will receive income from both after age 72. However, if you have saved and...

Economic Predictions: What Lies Ahead?

Here’s what the financial forecast may have in store. It can be easy to overlook the nation’s solid economic fundamentals when the financial media splashes stories every day about an army of amateur traders, short-selling...

Changes to Paycheck Protection

Information for small business owners to consider. On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to...

How Soon Might the Stimulus Arrive?

A shot in the arm of a different kind. While many in the United States are beginning to receive vaccinations and people are starting to foresee a life after COVID-19, it remains clear that things aren’t yet back to normal. As a...

Robo-Advisors vs. Human Financial Professionals

If an investor chooses a non-human financial advisor, what price could they end up paying? Investors have a choice today that they did not have a decade ago. They can seek investing and retirement guidance from a human financial...

Outlook 2021: Bond Prices

Information you should know. The 10-year Treasury yield has climbed higher since the New Year, which means that some bond prices are dropping. You may have seen the headlines that say, “10-Year Yields Over 1%.” For some,...

1099 Forms

Explaining the many types of 1099 forms and their uses. What is a 1099 form? This is a record of payment from an individual or entity, showing a payment, generated for your records. The individual/entity sends a copy to both the payee...

Markets & Marriage

How your investment strategy is like a long-term partnership. Your investment strategy is a lot like a marriage. One day you may feel like everything’s going swimmingly. The next day, there might be an argument over who forgot to...

5 Highlights of the New Stimulus Package

What the latest round of funding may mean for you. After a bit of political posturing in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic...

2021 Off to a Fast Start

Market volatility continues into the new year. The first week of 2021 has already had many ups and downs. Just because it’s a new year doesn’t mean that the 2020 issues go away, and so far, 2021 has been no exception to...

Retirement Blindspots

Some life and financial factors that can sometimes be overlooked. We all have our “blue sky” visions of the way retirement should be, yet our futures may unfold in ways we do not predict. So, as you think about your...

Navigating Your Required Minimum Distribution

Understand the IRS’s calculations and tables. As much as you would like to, you can’t keep your money in your retirement account forever. These investment vehicles include 401(k)s, IRAs, and similar retirement accounts.1...

IRA Deadlines Are Approaching

Here is what you need to know. Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD)...

Building a Healthy Financial Foundation

How many pieces do you have in place? When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean? When your financial “house is in order...

FAFSA Applications Are Now Open

Federal Student Aid opportunities are often first-come, first-served. Provided by «representativename» Applications for the Free Application for Federal Student Aid (FAFSA) are now open for the academic year 2021-22....

How Medigap Choices Have Changed

What you need to know about Plan F and Plan G. As many may recall, seniors who previously enrolled in Medicare are facing some changes. Medigap Plan F might not be sold after 2020 and Medigap Plan G will be undergoing some changes.1...

The Social Security Administration Announces 2021 COLA

What you should know about the most recent cost-of-living adjustment. On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living...

Year-End Estate Strategies

What you need to know to get ready for the end of the year. With one year ending and a new one on the cusp of starting, many people will consider their resolutions—not their estate strategy. But the end of the year is a great...

Election 2020: Biden's Policy Initiatives

Potential proposals and their legislative requirements. Now that several major news groups have projected Joe Biden the winner of the presidential election—and Congress appears divided with Democrats in control of the House and...

Managing Drug Costs

How can households meet the challenge? Are prescription drug costs burdening your finances? Some people find it a challenge to manage the cost of prescription drugs. Americans pay an average of $1,200 per year for medicine. For those...

Election 2020

Preparing for Any Outcome. As the U.S. presidential election draws near, expect to see more and more headlines that propose, "What will happen next if this person is elected?" or, "What...

October Is Financial Planning Month

Six areas of personal finance to review. When training to become a financial professional, much of our course work centers on the six critical areas of creating a financial strategy. Some recognize October as Financial Planning Month,...

Ouch: September’s Market Correction Hurt

Here’s what you need to know. In theory, investors understand that stock market corrections are part of the investing process. But experiencing a setback—like the one we’ve witnessed in the past four weeks—can...

Race for a Vaccine

Here’s what you need to know. A U.S. drug company recently said that it’s in late-stage trials for its coronavirus vaccine and reported that it could be given to Americans as early as the end of the year.1 Great news. But...

Home Builders Confident In Economic Rebound

Here’s what you need to know about the housing market. To some, this may hardly feel like an economy headed for a bright future. But don’t tell that to home builders. Builder confidence in August jumped to an eye-popping 78...

Why Roth IRA Conversions May Now Be Advantageous

Thanks to a couple of factors, some investors are thinking about this move before 2020 ends. Roth IRAs have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided...

Why Medicare Should Be Part of Your Retirement Strategy

The premiums and coverages vary, and you must realize the differences. Medicare takes a little time to understand. As you approach age 65, familiarize yourself with its coverage options, costs, and limitations. Certain features of...

Why Regular Rebalancing Makes Sense

Your investment portfolio may be off-kilter, and you may not even know it. Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound...

What Are Stock Splits?

Here’s what you need to know. Two high-profile companies—Apple and Tesla—have announced stock splits in the past few weeks, which makes it a great time to discuss what’s involved when a company announces a stock...

30-year Home Loans Fall to Historic Lows

Investors and homebuyers take note. Lately, it can feel like each day brings a new headline about fluctuating market behavior. But amid the ups and downs of 2020, there may be some potential good news on the horizon. On July 16, 2020,...

The I.R.S. Has Enhanced the 2020 RMD Waivers

Investors may be eligible to “undo” certain retirement account withdrawals before September. In March, the Coronavirus Aid, Relief, and Economic Security (CARES) Act became law. It was designed to help Americans impacted by...

“Backdoor” Roth IRAs

If you make too much money to open a Roth IRA, you could create one this way. You can sum up the appeal of a Roth IRA in three words: federal tax benefit. Potential earnings in a Roth IRA grow tax free as long as the owner abides by...

Eldercare Choices in the COVID-19 Era

Exploring your extended care options may be wise at this time. Given the threat of COVID-19, seniors today may be considering their extended care alternatives with extra caution.1 In addition to health factors, the cost can be an issue...

Who Is Your Trusted Contact?

This vital investment account question should be answered sooner rather than later. Investment firms have a new client service requirement. They must now ask you if you would like to provide the name and information of a trusted...

Before You Claim Social Security

A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider...

The Pros and Cons of Early Retirement Plan Rollovers

Should you withdraw and reinvest your retirement plan money while you are still on the job? Did you know you might be able to take some or all of the money in your 401(k), 403(b), or 457 plan and roll it over into another type of...

Tax-Loss Harvesting

A useful year-end move to counteract capital gains. Even though this may end up being a subpar year for stocks, you may realize capital gains, which is a taxable event. What can you do about them? You can do what some investors do...

Roth IRA Conversion in the Era of COVID-19

Is it right for you? The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement. However, difficult times may open doors to new possibilities. Businesses...

The Solo 401(k)

A retirement investment vehicle designed for small. Do you work for yourself? Then you may want to consider the solo 401(k), which marries a traditional employee retirement savings account to a small-business, profit-sharing plan. To...

A Stock Market Lesson to Remember

Confidence can quickly erode, but it can also quickly emerge. Undeniably, spring 2020 has tried the patience of investors. An 11-year bull market ended. Key economic indicators went haywire. Household confidence was shaken. The...

FAQs About the 2020 Stimulus Checks

Answers to some frequently asked questions. The federal government is providing a little economic relief to many taxpayers. The Internal Revenue Service is sending millions of Economic Impact Payments – or as they are commonly...

Traditional Vs. Roth IRA

Do you know the difference? Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. Roth IRAs, however, were created as part of the Taxpayer Relief Act in 1997,...

Getting a Head Start on College Savings

The hows and whys of college savings. The American family with a child born today can expect to spend about $233,610 to raise that child to the age of 18. And if you’ve already traded that supercharged convertible dream for a...

When a Windfall Comes Your Way

What do you do with big money? Getting rich quick can be liberating, but it can also be frustrating. Sudden wealth can help you address retirement saving or college funding anxieties, and it may also allow you to live and work on your...

Ways to Fund Special Needs Trusts

A look at the different options & strategies. If you have a child with special needs, a trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and...

ABLE Accounts for Loved Ones with Disabilities

More families should know about these tax-advantaged savings vehicles. Families with special needs children have a new tax-deferred savings option. The ABLE account, also called a 529A savings account, is patterned after the popular...

That First Distribution from Your IRA

What you need to know. When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these withdrawals are called Required Minimum...

Lesser Known Provisions of the SECURE Act

What younger investors need to know. The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA)...

Measuring the Value of a Financial Advisor

One study asserts that these relationships can make a difference for investors. What is a relationship with a financial advisor worth to an investor? A 2019 study by Vanguard, one of the world’s largest money managers, attempts...

Pullbacks, Corrections, and Bear Markets

What’s the difference? What do these terms mean for you? The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market...

Coronavirus & More

The 24-Hour News Cycle moves from Impeachment to COVID-19 to the Primaries – What’s next? In recent weeks, we’ve seen several major stories in the news. On the political front, in addition to the arrival of the...

Financial Planning with Health Insurance in Mind

How much might health care cost you someday? “Financially speaking, what would be the worst thing that could happen to you?” If you ask a hundred people in their forties that question, you may get a dozen different answers....

Retiring Before 60

If that is your dream, explore whether these steps could be useful to take. How could you retire in your fifties by choice? You will need abundant retirement savings and ways to access your retirement assets that lessen or avoid early...

Saving Early & Letting Time Work for You

The earlier you start pursuing financial goals, the better your outcome may be. As a young investor, you have a powerful ally on your side: time. When you start saving and investing for retirement in your twenties or thirties, you can...

Making Sense of a Home Warranty

Are you covered for that? As a consumer, when you purchase an expensive item, like a car or refrigerator, you expect to receive a warranty that the manufacturer will repair or replace that product if it breaks down. A warranty makes...

Insurance Needs for Empty Nesters and Retirees

Thinking about coverage as you enter a new phase. With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power...

Investing in Agreement With Your Beliefs

The case for aligning your portfolio with your outlook & worldview. Do your investment choices reflect your outlook? Are they in agreement with your values? These questions may seem rather deep when it comes to deciding what to buy or...

Could Insurance Save Your Retirement?

The right coverage might help to insulate you against a money crisis. Most people begin insuring themselves when they marry or start a family. They buy coverage in response to two potential calamities – disability during their...

Protection Against Uninsured Drivers

Getting in an accident with the uninsured might be costly. About 13 percent of all motorists, or one-in-eight drivers, do not have automobile insurance.1 Having the misfortune of getting into an accident with an uninsured motorist may...

Could You Improve Your Personal Finances Today?

Simple decisions & new habits might lead you toward a better financial future. In life, there are times when simple decisions can have a profound impact. The same holds true when it comes to personal finance. Here are some simple...

Insurance Needs when Married with Children

Considering coverage for your household. A growing family, by definition, means growing financial obligations – both in the present and in the future. Raising children can increase your insurance needs and heightens the urgency...

Teaching Your Heirs to Value Your Wealth

Values can help determine goals & a clear purpose. Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it. In a 2015 CNBC Millionaire Survey, 44% of families...

Debunking Common Retirement Assumptions

Don’t fall for these misconceptions. Financial generalizations are as old as time. Some have been around for decades, while others have only recently joined their ranks. Let’s examine a few. Retirement means I can stop...

Will You Avoid These Estate Planning Mistakes?

Too many wealthy households commit these common blunders. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly, but make mistakes that can potentially affect both the...

Investment Challenges of the Affluent Investor

Affluent investors face unique challenges when putting together an investment strategy. High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing...

Annual Financial To-Do List

Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for the coming year? Now is a good time to think about the investing, saving, or budgeting methods you could...

Trends in Charitable Giving

The hows and whys of charity in America. According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more that $400 billion in the history of the...

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction. When you are planning for your future, what do you think about? You may think about your retirement, enjoying having the time and money to take trips and pursue...

Global vs. International: What’s the Difference?

Global mutual funds vs. international mutual funds. For investors who are looking to diversify their portfolio with exposure to companies located outside the U.S., there exist two basic choices: a global mutual fund or an international...

Should You Choose a Fixed or Variable?

Thinking about your mortgage. Buying a home is the single largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed- or...

Types of Stock Market Analysis

Three different approaches. The majority of stock market analysis can be lumped into three broad groups: fundamental, technical, and sentimental. Here’s a closer look at each. Fundamental Analysis. The goal of fundamental...

Your Changing Definition of Risk in Retirement

Some things to consider. During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you...

Rebalancing Your Portfolio

Should investors make regular adjustments? Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound counter-intuitive, but it may be possible to...

What Are Catch-Up Contributions Really Worth?

What degree of difference could they make for you in retirement? At a certain age, you are allowed to boost your yearly retirement account contributions. For example, you can direct an extra $1,000 per year into a Roth or traditional...

Financial Planning with Health Insurance in Mind

How much might health care cost you someday? “Financially speaking, what would be the worst thing that could happen to you?” If you ask a hundred people in their forties that question, you may get a dozen different answers....

Inventorying Your Possessions

It is helpful for insurance purposes. It’s great to have insurance against damage and loss, but if you can’t show proof of your possessions, it may result in a protracted settlement process with your insurance company.1...

Money Concerns for Those Remarrying

What financial factors deserve attention? Some of us will marry again in retirement. How many of us will thoroughly understand the financial implications that may come with tying the knot later in life? Many baby boomers and seniors...

Put it in a Letter

Express your wishes. Provided by «representativename» Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second,...

Saving Your Elderly Parents from Financial Fraud

Talk to them about their money (and those who could take it away). Elders are financially defrauded daily in this country. Just a tiny percentage of these crimes are made public. In fact, the National Adult Protective Services...

Your Changing Definition of Risk in Retirement

Some things to consider. During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you...

Eight Mistakes That Can Upend Your Retirement

Avoid these situations, if you can. Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy. Yes, the...

A Decision Not Made is Still a Decision

Indecision can lead to no decision. Investment inaction is played out in many ways, often silently, invisibly, and with potential consequence to an individual’s future financial security. Let’s review some of the forms this...

Value vs. Growth Investing

There are those who favor value and those who favor growth. Provided by «representativename» You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers...

Could Social Security Really Go Away?

Just how gloomy does its future look? Will Social Security run out of money in the 2030s? For years, Americans have been warned about that possibility. Those warnings, however, assume that no action will be taken to address Social...

Three Key Questions to Answer Before Taking Social Security

When to start? Should I continue to work? How can I maximize my benefit? Social Security will be a critical component of your financial strategy in retirement, so before you begin taking it, you should consider three important...

Searching for Health Coverage in the Years Before Medicare

What are your options for insuring yourself prior to age 65? If you retire before age 65, you must be prepared to address two insurance issues. One, finding health coverage in the period before you can sign up for Medicare. Two,...

The Chapters of Retirement

The five phases of life after 50 & the considerations that accompany them. The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider. Chapter 1 (the fifties)...

What if You Get Audited?

What the I.R.S. looks for and why. “Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the I.R.S. audited 0.5% of...

Red Flags for Tax Auditors

Here are six flags that could make your tax return prime for an I.R.S. audit. No one wants to see an Internal Revenue Service (I.R.S.) auditor show up at their door. But in 2018, the I.R.S. budget is roughly $1 billion less than it was...

Insurance When You're Newly Married - Is Term Life Insurance for You?

Insurance When You're Newly Married Assess the coverage for your new household. Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current, individual insurance...

Why Do People Put Off Saving for Retirement?

A lack of money is but one answer. Provided by «representativename» Common wisdom says that you should start saving for retirement as soon as you can. Why do some people wait decades to begin? Nearly everyone can save...

What You Can & Cannot Control as You Plan for Retirement

Some things you have no influence over. You may have some power to affect other factors. Provided by «representativename» Are you worried about retiring? Many baby boomers are, and they have reason to be, given low interest...

Should You Plan to Retire on 80% of Your Income?

Provided by «representativename» A classic retirement planning rule states that you should retire on 80% of the income you earned in your last year of work. Is this old axiom still true, or does it need reconsidering? Some...

Should We Reconsider What “Retirement” Means?

The notion that we separate from work in our sixties may have to go. Provided by «representativename» An executive transitions into a consulting role at age 62 and stops working altogether at 65; then, he becomes a buyer...

The New Gradual Retirement

Working a little (or a lot) after 60 may become the norm. Do we really want to retire at 65? Not according to the latest annual retirement survey from the Transamerica Center for Retirement Studies which gauges the outlook of American...

You Could Retire...But Should You?

It might be better to wait a bit longer. Some people retire at first opportunity, only to wish they had waited longer. Thanks to Wall Street’s long bull run, many pre-retirees have seen their savings fully recover from the shock...

Where Will Your Retirement Money Come From?

Retirement income may come from a variety of sources. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security. Social Security is the...

Six Most Overlooked Tax Deductions

Six overlooked tax deductions to help you manage your tax bill. Who among us wants to pay the Internal Revenue Service more taxes than we have to? While few may raise their hands to voluntarily pay more taxes, Americans regularly...

To Catch a Thief

Having your identity stolen may be costly. Many Americans have taken steps in recent years to protect their personal information, but savvy cybercrooks have overcome some of those defenses. A 2018 Javelin Research report found identity...

IRA Withdrawals That Escape the 10% Penalty

The list of these options has grown. An IRA, or Individual Retirement Account, is a tax-advantaged savings account that is subject to special rules regarding contributions and withdrawals. One of the central rules of IRAs is that...

Earnings for All Seasons

What is it and why is it important? While nature offers four seasons, Wall Street offers only one – four times a year. It’s called “earnings season,” and it can move the markets. So, what is earnings season, and...

Behind on Your Retirement Savings?

What steps could you take to catch up? If life has not allowed you to build substantial retirement savings, what can you do to improve your retirement prospects? Here are some suggestions. Play catch-up. If at all possible, take...

Long-Term Investment Truths

Key lessons for retirement savers. You learn lessons as you invest in pursuit of long-run goals. Some of these lessons are conveyed and reinforced when you begin saving for retirement, and others you glean along the way. First &...

Smart Financial Moves in Your 20s, 30s, 40s & 50s

What might you think of doing when? If you had a timeline of the financial steps you should probably take in life, what would it look like? Answers to that question will vary, but certain times of life do call for certain financial...

How Gen Xers Can Get Their Retirement Saving Back on Track

Steps that may help to address a savings shortfall. Were you born within the years 1965-1980? That makes you a member of Generation X, and it means you are between ages 35-50. Gen Xers now constitute “the sandwich...

Financial Elder Abuse: Perception vs. Reality

Someday, you or your parents could be at risk. You may know victims of financial elder abuse. According to a new Wells Fargo Elder Needs Survey, almost half of Americans do.1 As you read or hear stories about seniors being financially...

Retirees Should Have Spending Plans

Without such strategies, they can risk going through their savings too fast. Every day, articles appear urging people to save for retirement. These articles are so prevalent that it may seem like retirement planning is entirely about...

Retirement Now vs. Retirement Then

Today’s retirees must be more self-reliant than their predecessors. Decades ago, retirement was fairly predictable: Social Security and a pension provided much of your income, you moved to the Sun Belt, played tennis or golf, and...

Should You Care What the Market Does Each Day?

A calm investor may realize better long-term returns than an overly concerned one. Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when...

Reducing the Risk of Outliving Your Money

What steps might help you sustain and grow your retirement savings? “What is your greatest retirement fear?” If you ask retirees that question, “outliving my money” may likely be one of the top answers. Retirees...

Why Do You Need a Will?

It may not sound enticing, but creating a will puts power in your hands. According to the global analytics firm Gallup, only about 44% of Americans have created a will. This finding may not surprise you. After all, no one wants to be...

Build Your Rainy Day Fund

Like an emergency fund, it can come in handy. Sometimes, life gets expensive. A little bad luck or a twist of fate can hit us right in the checkbook and challenge us to live within our budget. An emergency fund may help us handle major...

Mid-Life Money Errors

If you are between 40 & 60, beware of these financial blunders & assumptions. Between the ages of 40 and 60, many people increase their commitment to investing and retirement saving. At the same time, many fall prey to some common...

5 Retirement Concerns Too Often Overlooked

Baby boomers entering their “second acts” should think about these matters. Retirement is undeniably a major life and financial transition. Even so, baby boomers can run the risk of growing nonchalant about some of the...

Tax Considerations for Retirees

Are you aware of them? The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive. If you are 65 or older, your standard deduction is $1,300 larger. Make that...

Are Gen Xers Planning for Retirement the Right Way?

Some are planning wisely, but others are beset by mistakes. Generation X has become the new “sandwich” generation. Many Americans born during the years 1965-80 are finding themselves caring for aging parents and growing...

Should You File Jointly, Or Not?

For many married couples, filing jointly is a good idea, but there are exceptions. Ninety-five percent of married couples file joint federal tax returns. Filing jointly can be convenient. Frequently, there’s a financial advantage...

Keep Your Umbrella Handy

Have a home-based business? Have a teen driver? Consider umbrella insurance. In 2017, the U.S. had a record 11.5 million millionaires, up from 10.8 million in the previous year. An increase in personal wealth may bring greater...

Cash Flow Management

An underappreciated fundamental in financial planning. You’ve probably heard the saying that “cash is king,” and whether you own a business or not, it is a truth that applies. Most discussions of business and personal...

Do Our Biases Affect Our Financial Choices?

Even the most seasoned investors are prone to their influence. Investors are routinely warned about allowing their emotions to influence their decisions. They are less routinely cautioned about letting their preconceptions and biases...

Are Too Many Baby Boomers Too Indebted?

Financial burdens could alter their retirement prospects. Imagine retiring with $50,000 of debt. Some new retirees owe more than that. Outstanding home loans, education debt, small business loans, and lingering credit card balances...

Retirees, Check Your Withholding

It may need to be adjusted due to the 2017 federal tax reforms. The Internal Revenue Service has a message for you. You may need to adjust the amount withheld from your paycheck or the size of your estimated tax payments because the...

Funding 35-40 Years of Retirement

If you live to 100, can you avoid outliving your money? Will you live to 100? Your odds of becoming a centenarian may be improving. Earlier this year, the Centers for Disease Control reported that the population of Americans aged 100...

Searching for Health Coverage in the Years Before Medicare

What are your options for insuring yourself prior to age 65? If you retire before age 65, you must be prepared to address two insurance issues. One, finding health coverage in the period before you can sign up for Medicare. Two,...

How Your Credit May Affect Your Life Insurance Premiums

You may be surprised to learn about the potential relationship. Does your credit history partly determine the cost of your life insurance? It may. The potential for such a relationship may surprise you – and the relationship is...

Dealing With Sudden Retirement

How ready are you? What if you are laid off or forced into retirement before 65, or even before 60? If that happens to you, what do you do in response now that the next phase of your life is starting sooner than you planned? As a first...

The Retirement We Imagine, the Retirement We Live

Examining the potential differences between assumption & reality. Financially, how might retirement differ from your expectations? To some degree, it will. Just as few weather-casters can accurately predict a month’s worth of...

Talking to Your Heirs About Your Estate Plan

They should not be left ill-informed or unaware. Talking about “the end” is not the easiest thing to do, and this is one reason why some people never adequately plan for the transfer of their wealth. Those who do create...

The Details More People Should Know About Medicare

Before you enroll, take note of what the insurance does not cover and the changes ahead. Misconceptions about Medicare coverage abound. Our national health insurance program provides seniors with some great benefits. Even so,...

Should You Use 529 Plan Funds on K-12 Education?

Federal law says you can, but you may want to think twice about it. When President Trump signed the Tax Cuts & Jobs Act into law late in 2017, new possibilities emerged for the tax-advantaged investment vehicles known as 529 college...

Getting Your Personal Finances in Shape for 2019

Fall is a good time to assess where you stand and where you could be. You need not wait for 2019 to plan improvements to your finances. You can begin now. The last few months of 2018 give you a prime time to examine critical areas of...

Avoiding the Money Pitfalls of Past Generations

Take these financial lessons to heart. You have a chance to manage your money better than previous generations have. Some crucial financial steps may help you do just that. Live below your means and refrain from living on margin. How...

Before You Claim Social Security

A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 70, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider...

Are You Retiring Within the Next 5 Years?

What should you focus on as the transition approaches? You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting...

The Importance of Equitable Estate Planning

Have you considered the factors that may promote inequality in wealth transfer? Suzanne is widowed and has four adult children. Her investment portfolio is worth $1 million, and she owns a bed-and-breakfast inn worth $1 million as well...

Wealth Management with Memory Disorders

What steps can a family take? Besides impacting lives and relationships, dementia can also impact family finances. It may call for another family member to assume money management responsibilities for a parent, grandparent, or sibling....

Fear Must Not Inhibit a Financial Strategy

Too often, it persuades investors to make questionable moves. Fear affects investors in two distinct ways. Every so often, a bulletin, headline, or sustained economic or market trend will scare them and make them question their...

Refrain from Tapping Your Retirement Funds

Resist the temptation. Your future self will thank you. Retirement accounts are not bank accounts. Nor should they be treated as such. When retirement funds are drawn down, they impede the progress of retirement planning, even if the...

Will Debt Spoil Too Many Retirements?

What pre-retirees owe could compromise their future quality of life. The key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings along...

Budgeting for Retirement

It only makes sense – yet many retirees live without one. You won’t be able to withdraw an unlimited amount of money in retirement. So a retirement budget is a necessity. Some retirees forego one, only to regret it later....

Watch for These Insurance Blind Spots

There are incidents that standard policies may not cover. No insurance policy will protect you from everything. Even the most comprehensive umbrella liability policy has its shortcomings. A good auto, homeowner, or renter policy will...

Managing Student Loan Debt

A review of some options for federal and private loans. Are you dealing with student loan debt? Have you explored ways to try and restructure it or have it forgiven?No one wants to carry five figures of education debt into middle age...

Building a College Fund

Do it smartly, without the all-too-common missteps. According to Sallie Mae, U.S. families with one or more college students spent an average of $24,164 on tuition, housing, and linked expenses in 2015. That was 16% more than in 2014.1...

Social Security: Myths vs. Facts

Dispelling some misconceptions about the program. Some myths & misconceptions keep circulating about Social Security. These are worth dispelling, as more and more baby boomers are becoming eligible for their retirement benefits. Myth...

Should Couples Combine Their Finances?

To consolidate or not: that is the question. Some couples elect to consolidate their personal finances, while others largely keep their financial lives separate. What choice might suit your household?The first question is: how do you...

Set Goals as You Save & Invest

Turn your intent into a commitment. Goals give you focus. To find and establish your investing and saving goals, first ask yourself what you want to accomplish. Do you want to build an emergency fund? Build college savings for your...

Retirement Planning Weak Spots

They are all too common. Many households think they are planning carefully for retirement. In many cases, they are not. Weak spots in their retirement planning and saving may go unnoticed. Couples should recognize that they may face...

Good Reasons to Retire Later

Working longer might work out well for you. Are you in your fifties and unsure if you have enough retirement savings? Then you have two basic financial choices. You could start saving and investing more of your pay than you currently...

Catching Up on Retirement Saving

Catching Up on Retirement Saving If you are starting at or near 50, consider these ideas. Provided by «representativename» Do you fear you are saving for retirement too late? Plan to address that anxiety with some positive...

For Retirement, Income Matters as Much as Savings

A recent poll of pre-retirees suggests that truth risks being ignored. Steady income or a lump sum? Last year, financial services firm TIAA asked working Americans: if you could choose between a lump sum of $500,000 or a monthly income...

Why Life Insurance Will Always Matter in Estate Planning

With or without the estate tax, it addresses several key priorities. Every few years, predictions emerge that the estate tax will sunset. Even if it does, that will not remove the need for life insurance in estate planning. Why? The...

Smart Financial Steps After College

A to-do list for the twentysomething. Did you recently graduate from college? The years after graduation are crucial not only for getting a career underway, but also for planning financial progress. Consider making these money moves...

That first RMD from your IRA

What you need to know. When you reach age 70½, the IRS instructs you to start making withdrawals from your Traditional IRA(s). These IRA withdrawals are also called Required Minimum Distributions (RMDs). You will make them...

Why You Want a Retirement Plan in Writing

Setting a strategy down may help you define just what you need to do. Many people save and invest vaguely for the future. They know they need to accumulate money for retirement, but when it comes to how much they will need or how they...

What you should Keep

Even with less itemizing, there are still tax documents you want to retain for years to come. Fewer taxpayers are itemizing in the wake of federal tax reforms. You may be one of them, and you may be wondering how many receipts, forms,...

How Can You Make Your Retirement Money Last

These spending and investing precepts may encourage its longevity. All retirees want their money to last a lifetime. There is no guarantee it will, but, in pursuit of that goal, households may want to adopt a couple of spending and...

Money Habits That May Help You Become Wealthier

Financially speaking, what do some households do right? Why do some households tread water financially while others make progress? Does it come down to habits? Sometimes the difference starts there. A household that prioritizes paying...

A Look at HSAs

Health Savings Accounts may provide you with remarkable tax advantages. Provided by «representativename» Why do higher-income households inquire about Health Savings Accounts? They have heard about what an HSA can...

Things to Consider if You Plan to Retire Before 60

Financially speaking, what moves might you want to make? By choice or by chance, some people wrap up their careers before turning 60. If you sense this will prove true for you, what could you do to potentially make your retirement...

Volatility Is Not Risk

The two should not be confused. What is risk? To the conservative investor, risk is a negative. To the opportunistic investor, risk is a factor to tolerate and accept. Whatever the perception of risk, it should not be confused with...

Keeping This Correction in Perspective

After 20 months of relative calm, this volatility needs to be taken in stride. Are you upset by what is happening on Wall Street? It may help to see this pullback within a big-picture context. Corrections have become so rare as of late...

Getting Your Financial Paperwork in Good Order

Help make things easier for your loved ones when you leave this world. Who wants to leave this world with their financial affairs in good order? We all do, right? None of us wants to leave a collection of financial mysteries for our...

When is Social Security Taxable?

The answer depends on your income. Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility. Seniors have had to contend with this possibility since...

Retirement planning mistakes??? Well, yes, sort of...

Why are they made again and again? Much has been written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, there are also some classic financial...

Retirement Questions That Have Nothing to Do With Money

Think about these matters before you leave work for the last time. Retirement planning is not entirely financial. Your degree of happiness in your “second act” may depend on some factors you cannot quantify. Here are a few...

What Do You Have in Reserve for 2018?

Build your emergency fund this year. Provided by «representativename» How much does the average American household have in the bank? Estimates vary, but the short answer to this question is “not enough.” Last...