Blog

The Impact of SECURE 2.0 in 2024 and Beyond

SECURE 2.0: Changes Going Into Effect in 2024 Passed in 2019, the SECURE Act was the most substantial retirement legislation in over a decade. It contained important changes designed to help investors save more and be better prepared...

A Year-End Financial Checklist

Time to Think About Year-End Financial Strategies As we roll into fall and the fourth quarter, now is a good time to pause and reflect on proactive ways to set up your finances for 2024. Economically speaking, we are now in a much...

AI's Role in Shaping Our Tomorrow: A Look Ahead

While artificial intelligence (AI) is making headlines today, the concept of "thinking machines" can be traced back to ancient philosophers and mathematicians. The phrase artificial intelligence was first used in the mid-20th century,...

Top 10 Questions High Net Worth Individuals Ask About Social Security

Social Security, the program you may have spent a lifetime paying into, is designed to offer stability, supplemental income, and other valuable benefits that can play a role in your overall financial strategy after you retire. We've...

Understanding the September Effect: What It Is and Why It Happens

If you ask the average investor which month is the most volatile for the stock market, they will probably say October. It's a reasonable answer, but it's incorrect. Despite October's reputation for market-defining events like the...

Don't Get Hooked: A Guide to Recognizing and Avoiding Phishing

As financial professionals, we understand how vital it is to safeguard your personal and financial information. Unfortunately, in our increasingly digital world, cybersecurity risks, such as phishing attacks, have become a prevalent...

Money Tips for Parents Sending Children Off to College

You’ve done a great job teaching your children vital life lessons and instilling values that will last a lifetime. As summer ends and a new school year begins, one thing that shouldn’t be overlooked, especially for...

How a Qualified Charitable Distribution Can Lower Your Income Taxes

Qualified charitable distributions (QCD) allow those who have reached the age of 70 ½ years old have the ability to donate up to $100,000 total to one or more charities from their IRA instead of taking the required minimum...

The Use of Life Insurance to Magnify Your Giving Plan

The Use of Life Insurance to Magnify Your Giving Plan The use of life insurance can be a powerful as well as creative tool in conjunction with your charitable giving. Traditionally life insurance is used to replace the income of bread...

In the End, There Will Be Two Date Separated by A Dash

“Our days are numbered.  One of the primary goals in our lives should be to prepare for our last day.  The legacy we leave is not just our possessions, but in the quality of our lives.  What preparations should we...

Attention Parents and Grandparents of College-Bound Students: FAFSA Gets an Overhaul

Changes are coming to the complicated form that students must submit to qualify for college financial aid, known as the Free Application for Federal Student Aid (FAFSA).The Department of Education is calling it the “most...

The 6 Biggest Mistakes DIY Investors Make and How to Avoid Them

IntroductionOver the last several months, I have met with quite a few self-proclaimed do-it-yourself (DIY) investors who, after struggling with the markets in 2022, approached me asking for a second opinion. Interestingly, almost every...

How the SECURE 2.0 Act Changed 529 Plans

Changes to 529 Plans in the SECURE 2.0 ActThe SECURE Act was initially passed by Congress at the end of 2019 and was intended to improve retirement savings opportunities. It was a big deal at the time and the most significant piece of...

Health Savings Accounts: Pros, Cons, and Retirement Considerations

What if your child needs braces? The cost may be as much as $6,000 for metal braces—more modern versions can run as much as $13,000. Your health insurance may cover only a portion of the cost. If you're well past the braces stage...

Top 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)

Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to...

Navigating the Costs of Senior Care: Tips for Preparing for Long-Term Care

Senior care costs can be overwhelming, particularly when long-term care is required due to illness or medical conditions. With the number of seniors in the U.S. expected to rise exponentially by 2030, it's crucial to be prepared for...

Living Trusts: Understanding the Basics and Key Considerations

Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...

Trying to Time a Recession?

Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...

What Factors Have the Greatest Impact on Your Credit Score?

Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...

Important Financial Considerations to Make When Remarrying Later in Life

Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...

Top Considerations to Help Adult Children Be Better Prepared As You Age

As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...

Tips for Raising Financially Literate Children

Every parent wants the best for their children and strives to prepare them to lead a happy, healthy, and successful life. But, despite understanding the importance of financial responsibility, only 28 percent of parents speak to their...

Transitioning to Medicare from Private Health Insurance Plans

Transitioning from Private Health Insurance Plans to MedicareAs you approach retirement age, you may be anticipating transitioning from your private insurance to Medicare, which is a federal health insurance program that provides...

Where to Put Excess Cash

According to the Investment Company Institute, near the end of 2022, there was more than $4.7 trillion in cash sitting in U.S. money market funds.1,2While cash can play a role in a diversified portfolio, historically, cash has not kept...

Technology Guide for Seniors

By 2040, the U.S. Census Bureau estimates that 80 million people in the U.S. will be age 65 or older.1 Most of these senior adults will either want to—or need to—"age in place," living in their homes securely, independently...

5 Smart Charitable Giving Strategies This Holiday Season

5 Smart Charitable Giving Strategies This Holiday SeasonThe past year has been especially challenging for most investors.Even so, there are those who choose to remain faithful to the causes that are important to them. It is...

Generating Retirement Income from Investments

There are potentially several income sources available to you in support of your retirement living expenses. Following is a discussion that focuses on how to utilize your investments to this end. DCA (Dollar Cost Averaging)Before...

Retirement – Optimism or Fear?

So, your hoped-for retirement ideas are being shaken by all the negativity concerning the economy, the stock market, political unrest, etc. Therefore, you gravitate towards investments that seem to be safe and sound. However,...

My Thoughts Regarding Current Market Turbulence

Your 4% Withdrawal Strategy May Not Be Enough

YOUR 4% WITHDRAWAL STRATEGY MAY NOT BE ENOUGH Get the Tax Guidance You Need to Help Live the Retirement You Desire There’s a lot of concern among industry experts about whether the popular 4% withdrawal rule can provide enough income...

Establishing a Successful Retirement Income Plan is Personal

Hopefully it is not a surprise when I state that there is no one retirement income strategy that fits all. The best plan is the one that not only has your name on it, but also, is built around your unique circumstances. It should...

A Powerful Tool to Enable Giving Now

A Powerful Tool to Enable Giving Now You could be someone who would like to initiate a giving program so that you could see the benefit and experience the joy of giving now. Certainly, in many instances, the recipient of your...

Donor Advised Funds (DAF) - A Powerful Way to Cut Taxes

Donor Advised Funds (DAF) - A Powerful Way to Cut Taxes, Regardless of Your Financial Standing or Tax Bracket I’m beginning this article with the assumption that you’re already giving or that you would like to incorporate...

7 Serious Financial Planning Mistakes Made by Pre-Retirees

Financial planning is a critical subject that impacts virtually all aspects of our lives. After all, it’s the umbrella that encompasses subject areas that, in and of themselves, can comprise a rather broad and complex set of...

Next Stop – Retirement (Enter Carefully & Confidently)

After many years of living the work experience, retirement is finally within sight. Yes, it’s hard to believe and now that you’re on the brink, you’re excited, but at the same time, apprehensive. You’ve had 40...

Successful Market Timing

Market strategy is the strategy of making buying and selling decisions of investments (usually stocks or stock funds) by attempting to predict the market movements. The prediction could be based on outlook of market or economic...

Investment Risk

Investment Risk All of us are exposed to risk each day of our lives, whether it is weather, driving, accidents, or disease, etc. Likewise, investments are not exempt from risk. In financial terms, risk is the chance that an outcome on...

WARN Act and COVID-19

A very unfortunate consequence associated with the spread of COVID-19 is that unemployment has increased drastically. Many companies are having to shut down or reduce man power. Beyond statistics, this a very personal reality for too...

COVID-19 and your 401(k)

With Corona Virus affecting the United States every day, many are becoming unemployed, furloughed, or laid off. With unemployment still remaining consistently high, many are reassessing their retirement accounts and wondering what...

Importance of Retirement Planning

Many wonder if they’re financially able to retire. They’ve spent years saving, investing in their retirement plans, or IRAs in order to one day reach the goal of retiring. When is the right time? Here are 10 important...