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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...

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...

What Is the Sequence-of-Return Risk and How Can Retirees Mitigate Its Effects?

With the possibility of a recession looming, it's natural for those nearing or in retirement to have concerns over their long-term strategies. After decades of accumulating a portfolio, the last thing retirees want is for a market...

Ready To Retire part 1

So, how much will you need in retirement? Expenses, maintenance, etc can add up. Let's talk about it!

Senior Fraud: How to Identify 7 Common Scams Targeting Seniors

When you've worked hard to build your retirement savings, you want to ensure you're taking every preventative measure to protect it. Unfortunately, more and more fraudsters and scammers are weaseling their way into the lives of seniors...

Lifetime Estate & Gift Tax Exemption Updates for 2023

In October 2022, the Internal Revenue Service (IRS) announced tax changes for 2023 — changes primarily driven, in part, by the current inflationary environment. For affluent couples or individuals interested in transferring...

The Challenge of Raising Non-Materialistic Kids

In today’s social media-obsessed world full of popular “influencers” targeting teens, pre-teens, and even younger groups, instilling values in your children and grandchildren about what really matters in life is more...

Contribution Limit Increases for 2023: Just What We Wanted to Hear

In late October, the IRS announced that it is increasing contribution limits to retirement savings accounts in 2023. The changes, like many you are seeing, are a direct result of months of high inflation and financial uncertainty, some...

Year-End Financial Strategies

The year is almost over, and it has certainly been a bumpy one for the financial markets and our economy. As financial professionals, we work with families to design investment strategies that help them pursue their goals for education...

Charitable Giving Strategies for 2022

Key points:Over the past five years, affluent Americans increased their donations to charity by 48%.1Understand various strategies to help you maximize the impact of your charitable donations and your income tax savings.To qualify for...

How Does the Inflation Reduction Act Impact Healthcare? A Guide During Open Enrollment Season

Key points:One of the biggest components of the Inflation Reduction Act is the changes to healthcare costs and coverage. The Inflation Reduction Act requires all pharmaceutical companies to rebate Medicare participants for the...

The Pros & Cons of ESG Investing

If you haven’t heard much about ESG investing, you will. ESG has gone from a niche investment philosophy to a mainstream investment tenant. At the same time, it has gained the attention of corporations, politicians, regulators,...

It's Cybersecurity Awareness Month: 7 Steps to Protect Yourself

Over 50% of consumers have fallen victim to a cybercrime, with a third of those attacks taking place in the past year alone. So there are 263 million American consumers. 131.5 million have been hit by cybercrime, with 44 million...

Will Your Social Security Check Be Taxed?

Most people are used to having a percentage of their paycheck withheld for Social Security. The withholding rate in 2022 stands at 6.2% for individuals and another 6.2% for their employers, for a total of 12.4% per person.1 But...

Truths About Life Insurance that Will Inspire You to Get Coverage

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy...

What You May Not Know About 529s

The end of summer and the start of the school year always seem to be a catalyst for conversations about college savings and where they fit into larger, long-term financial strategies. In particular, the 529 college savings plan, with...

All Recessions Are Not Created Equal

With inflation at 40-year highs, the Fed is aggressively hiking interest rates; but it's a tricky proposition: raise rates too much and many fear the next recession is right around the corner. Markets have been reflecting that fear,...

Is Now a Good Time for a Roth IRA Conversion?

We know that taxes are one of life’s two inevitable. So, the question is not if you will pay taxes on your retirement accounts, but when and how much. That’s where Roth IRAs enter the discussion, especially in the current...

Retirement Planning: Investing in Your Health

When people plan for retirement, most think about the stock market, potential returns, and occasionally what their future retirement expenses might look like. And while it’s pretty easy to calculate future expenses for most...

Retirement Plans for Small Businesses

Don't Bank Your Retirement on Your Business

April Showers Bring May Flowers

The Financial Impact of Mental Health

Get “In Sync” with Today’s Retirement Plans

How to Manage Savings for Retirement

3 Moments in Life Where You Should Consider Consulting a Financial Professional

A Ways To Go

The Basics of the 401(k) Thoughts from a financial professional

Continuing to Work After Drawing Social Security? What Retirees Should Know

A Refresh for Your Finances

When spring rolls around, your thoughts might turn to organizing your closets or giving your floors a good deep clean. But how much thought have you given to cleaning up your finances? If the answer is “not much,” you might...

Navigating Geopolitical Tensions

401(k) Rollover Options to Consider

When people are leaving their employer, one of the decisions they need to make is what to do with their 401(k). A retirement plan participant typically has four options (and may engage in a combination of these options), each choice...

America’s Changing Vision of Retirement

Retirement planning is a primary reason for long-term saving, and when people think about retirement, finances are often the focus. However, it is important to also look at the nonfinancial aspects of transitioning from the world of...

4 Ways to Be Your Own Financial Valentine

Whether you're single, paired, or somewhere in between, Valentine's Day may present the perfect opportunity to show your bank account some love.

Stocks' Road Ahead

The calendar had barely flipped to 2022 and investors were reminded that even attractive long-term stock returns come with a cost: volatility.

Are You Maximizing 401(k) Contributions?

The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a sufficient income to live on during retirement.

Why You Should Not Take Early Retirement Withdrawals

When money gets tight, it can be tempting to think about your retirement accounts as a potential source of financial help. However, an early withdrawal from your retirement account may be costly.

How to Manage Your 401(k) When You Switch Jobs

Tax Prep Checklist: Everything You Need to Be Ready for Tax Season

Retirement Contribution Limit Changes for 2022

New Beginnings in 2022

Five New Year's Resolutions for Those Nearing Retirement

New Year, New Goals: Your Countdown to Financial Health

For many people, a new year provides a new start—and nothing says "new start" like a fresh new set of financial goals. But setting these goals is easier said than done. What steps should you take to get the most bang for your...

Retirement Mistakes to Fix Before the Holidays

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

Christmas Shopping Lessons for Investors

Is that investment an innovation or an improvement on an existing product? As Christmas sales loom, we face an endless array of sparkly, shiny and occasionally innovative items. As an investor, you run into a similar phenomenon that...

Business Planning for Continuity

“Life After Death” For the owner of an interest in a small- to medium-sized business, such as a proprietorship, partnership, or corporation, the problem of an untimely death cannot be underscored too markedly. In the first...

Thanks and Giving: How You Make a Difference on Giving Tuesday

Giving Tuesday is a day to extend the goodwill that the holiday season may bring to help others. With so many in need, the holiday season is a reminder to help those less fortunate. Whether you want to donate your time or contribute...

Solo Opportunities: One-Person 401(k)s

An entrepreneur may be eager to take advantage of every available business opportunity. However, in order to prepare for retirement, the entrepreneur might be searching for potential options that suit their unique situation. Many small...

Many Reasons to be Thankful

The past year and a half have tested all of us, but overall, the economy continues to strengthen, COVID-19 trends are greatly improving, and this still relatively young bull market is alive and well. As the leaves turn colors and begin...

Can You Spot the Scam? Common Financial Fraud Warning Signs

Many people are familiar with the scammers who promise to pay millions of dollars in exchange for briefly holding funds in your bank account or those who offer to enhance certain body parts risk-free. Today's scammers are clever at...

2021 Year-End Planning for Retirees

For some, 2021 has flown by—and as we approach the last quarter of the year, it's a good time to begin planning for the next one. Year-end planning is especially important for retirees and those hoping to retire in 2021 or 2022....

Resources for Women-Owned Small Businesses

Small businesses face many problems related to their size, capital, and capability, and for women-owned small businesses, the challenge is sometimes even greater. The good news is there are many professional organizations out there...

Understanding the Estate Planning Process

A well-structured estate plan can be invaluable to you and your family. It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that...

Change May Bring Opportunities

One constant in life is change. During the past year and a half, we have experienced more change than any of us bargained for. Change is disruptive—but also brings opportunities. For investors right now, there is no shortage of...

Simple Solutions for Down Payment Saving

The thought of putting thousands of dollars into a down payment for a home might bring out a lot of emotions: fear, dread, anxiety. Does any of that ring a bell? Saving for a down payment is no easy task, but it is totally achievable...

A Woman’s Guide to Long-Term Care

Women face unique financial challenges as they age. When compared with men, women live longer, earn less, and spend fewer years in the workforce. Financial concerns are often more acute for older women who are divorced, widowed, or...

3 Tax Strategies Every Doctor Should Consider

Being a doctor comes with a lot of stressors, but planning for taxes should not be one of them. As a doctor, you have been through years of hard work and may be looking for ways to help limit your tax liability and preserve as much of...

American Business Women's Day

September 22nd is American Business Women's Day, and it may be the perfect day to celebrate women who have surpassed the glass ceiling and gone on to be leaders and inspirations for businesswomen everywhere. In honor of American...

Financial Considerations for Working Parents

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

The Bull Market Continues

The bull market continues, with the S&P 500 Index now up seven months in a row. Stocks have impressively gained 20% year-to-date, with the S&P 500 making 53 new all-time highs before the end of August—another new record. All of...

Choosing the Right 401(k) for Your Employees & Your Business

Implementing a 401(k) plan for your employees is good business. It means you're thinking strategically, that you care for your employees, and are focused on the long-term health of your company. Implementing a retirement plan: Can help...

How to Celebrate International Day of Charity

Mother Teresa was one of the most well-known figures for her charitable service, officially recognized with an International Day of Charity[1]. September 5th marks the anniversary of her death and is a day where much of the world...

Four Financial Planning Essentials to Ease Your Retirement Fears

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements...

How Are Workers Preparing for Retirement?

In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement...

A Growing Trend

Women Entrepreneurs The business landscape is continually changing—technological advances, corporate downsizing, restructuring, and telecommuting have reshaped the marketplace.­ Although these improvements and modifications...

Federal Student Loan Interest Rates Set to Increase for 2021-2022

After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.(1) The interest rates on federal student loans are reset each year after the May...

How Should High Net-Worth Women Use Their 401(k)?

The 401(k) allows (most) account owners to stash away $19,500 per year (or $26,000 for those age 50 and over), without paying any federal income tax on contributions.1 And with 2017's Tax Cuts and Jobs Act reducing the top marginal tax...

Six Months and Counting

Six months and counting. That is the current monthly winning streak for the S&P 500 Index. To take that a step further, this key equity benchmark has posted gains in 13 of the last 16 months—dating back to the March 2020 low....

Begin Investing While Young

There’s a simple word that has profound implications for savings and investing: compounding. Like a snowball that grows as it rolls down a hill, compounding provides the potential for your money to grow, reinvesting your...

Taxpayer Appreciation Day—Recognizing Taxpayers' Contributions

Though U.S. taxpayers received an extra month to file and pay their federal income taxes in 2021, some are still smarting from having to write a check to the IRS.[1] For many, it can be tough to make the connection between those...

Ways to Support Black Business

As the call continues to come for following through on support of minority-owned businesses,[1] many are wondering how they may lend their support to black businesses. Whether through direct investment or community support, there are...

Changes to Medicare in 2021: What Recipients Should Know

For many people, turning 65 provides one of the keys to retirement: access to affordable healthcare. Whether you're enrolling in the Medicare program for the first time or have been a Medicare enrollee for years, it's important to stay...

How Small Businesses Can Stay Competitive

Launching a small business can be an all-consuming prospect. Even after you start to feel as though you have gotten into a groove you could find yourself facing unforeseen challenges—from a new competitor to supply chain issues....

Are Early Retirement and Pension Buyout Offers a Good Deal for You?

In today’s economy, offers of an early retirement buyout for a current employee or a pension buyout directed at a former employee are becoming common as companies look for ways to cut costs. Many large employers are offering...

Investing In Your Vacation

Why do so many of us not use our vacation days? Salespeople talk about “leaving money on the table.” Well, employees leave vacation on the table. And the cost to us is significant. In fact, Americans leave 429 million...

Umbrella Policies: Extra Coverage and Peace

Additional insurance to protect your assets and future Why doesn’t anyone ever tell you not to buy an umbrella liability policy? It seems like additional overall security for pennies. Sure, you can spend pennies paying for...

Medicare Options During Retirement

Medicare is available to virtually all U.S. citizens and legal residents 65 years of age and over who have previously worked and paid U.S. taxes or who are/were married to someone who did. And while this opens a host of healthcare...

The Great Wealth Transfer: Is Your Family Prepared?

Over the next twenty years, a wealth transfer will occur that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations. The Baby Boomers (born 1946-1964) are...

Women and Retirement: Closing the Gender Pay & Retirement Savings Gap

Today’s women are more educated and have more significant job opportunities compared to previous generations. Despite more women in the workforce than ever before, women still experience considerable pay disparity compared to...

Gearing Up for Summer

As we move into June, a path to normalcy is coming quickly with stadiums allowing full capacity, restaurants filling up, and summer vacations in full swing. Meanwhile, the U.S. economy continues to recover remarkably quickly and the...

Caregiving:  A Decision That May Impact Your Retirement Savings

Many women have been a caregiver while raising children. Still, now many are caring for a loved one out of necessity as the older family member can no longer care for themselves. The Transamerica Center for Retirement Studies report,...

Out of the Shadows

As the calendar has turned to May, the popular “Sell in May and Go Away” stock market cliché is getting a lot of airtime. This is the idea that the stock market tends to be weakest between May and October (and...

5 Investment Considerations for Small Business Owners

If you're a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans....

Maximizing Military Retirement Benefits

Retiring from the military is a profound accomplishment. For many, this retirement will provide you with positive things, including the time and geographic stability you need to start a new career or simply enjoy leisure activities...

4 Reasons to Consider a Life Insurance Policy

Buying a life insurance policy is something that many people push off, sometimes until it is too late. For many people, the thought of buying life insurance means thinking about their death, which is something that most people wish to...

The 3 Components of Social Security

Many have heard Social Security retirement benefits referred to as part of the "three-legged stool" of retirement: Social Security, a pension or defined benefit plan, and personal savings.1 The idea is that with these three sources of...

Key Benefits of a Financial Advisor

Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial...

Retirement Planning: To Roth or Not to Roth?

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Spring Into A Positive Outlook

“The real key to making money in stocks is not to get scared out of them.” Peter Lynch They say April showers bring May flowers. Well, after a lot of showers and storms over the past year, flowers are starting to bloom and...

Key Considerations as You Start Receiving Social Security Benefits

As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do...

Business Contingency Planning for Small Business Owners

There comes a point in time when almost every small business owner contemplates the future of his or her business. Because “the business” typically is a substantial asset, an owner must address a number of estate planning...

Investing for the Future

For years, you’ve diligently invested in your retirement portfolio, accumulating wealth that you hope will sustain you throughout your Golden Years. To help see that your assets are sufficient to help you support your lifestyle...

What High Net-Worth Women Should Know About Health Savings Accounts

Health savings accounts (HSAs) offer tax savings for account holders—contributions are tax-free going in, tax-free coming out (with some exceptions, discussed below), and investment gains are tax-free as well. For high net-worth...

The Return of Normal is Approaching

It’s now been over a year since COVID-19 first hit American shores. While the pandemic has affected everyone to varying degrees, we can all agree that everyone’s life is different today than it was a year ago. It’s...

Retiring Debt When You Retire

Credit card usage is ubiquitous for Americans. Online purchases are just a click away when paying with a card, while other transactions — car rentals, for instance — require a credit card for both payment and security....

Financial Considerations for Single Women

If you’re divorced or separated, money management will become an important part of your life. While it may be true that money can’t buy or ensure happiness, your ability to manage your finances can play a large role in your...

When to Begin Collecting Social Security

Deciding when to retire and begin collecting Social Security is an important life decision. For some, savings losses may dictate that you delay your retirement plans and continue working, which means postponing when you begin...

Common Retirement Investment Mistakes

Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.⁠11 While the number is up slightly from the...

Women & Retirement: A Must Read for Today’s Woman

It’s been said by many that “A Man is Not a Financial Plan”. In fact, Bridget Macaskill, former CEO, Oppenheimer Funds stated “Women can’t afford to invest as well as men, they need to do it better”....

IRA vs. 401(k): What Savers Should Know

As of 2018, about 58 million Americans had a 401(k), while around one-third of households owned an individual retirement account (IRA).1, 2 Yet for as commonplace as these retirement accounts can be, the nuances of contributions are a...

Retirement Income Planning

For investors approaching retirement, it is important to begin thinking about retirement income planning. This involves a mindset shift from accumulating an investment portfolio designed for growth to creating a portfolio of retirement...

Tax Identity Theft Awareness - Protecting Yourself from Tax Identity Theft

Tax identity theft is when someone steals your Social Security Number, files a tax return with your number, and directs a refund to their own bank account. In other cases, this type of identity theft may involve a scam artist calling...