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Wednesday, May 1, 2024

Financial wellness is easier to work toward when a business owner understands their economic outlook and has set financial goals to take them through the next 5 to 10 years.2 Striving toward financial wellness is vital for any small...

Wednesday, May 1, 2024

Veterans and those on active-duty face unique financial planning challenges Memorial Day is an important holiday observed in the United States to honor and remember those who have died while serving in the country's armed forces. It is...

Wednesday, May 1, 2024

Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time...

Wednesday, May 1, 2024

529 plans are designed for saving for education and are beneficial since contributions accumulate and grow tax-free as long as withdrawals are used for qualified education expenses. But 529 plans may also be part of a wealth transfer...

Tuesday, April 2, 2024

Relating March Madness to long-term financial planning and investing March Madness is upon us, and for basketball fans and investors alike, it's the most exciting time of the year. As the top college basketball teams prepare to tip off...

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Tuesday, April 2, 2024

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

Tuesday, April 2, 2024

Thoughts from a financial professional When helping people get ready for retirement, financial professionals find the same issues come up over and over. Thinking ahead can spell the difference between a retirement with enough money and...

Tuesday, April 2, 2024

The average American worker will change jobs more than once in their lifetime. While there are multiple options such as leaving your 401(k) in your former plan if allowed, cashing out the account balance, or transferring the 401(k),...

Tuesday, March 5, 2024

The federal income tax filing deadline isn’t until April. However, the start of tax season is nearly upon us. Here are some tips for navigating the tax filing process to help lessen some of the stress you may feel as Tax Day...

Tuesday, March 5, 2024

As Samuel Goldwyn once said, "The harder I work…the luckier I get!" 1 But when it comes to investing, luck may play a huge role in outcomes—no matter how hard you work.2 Below, we discuss some ways that luck may...

Tuesday, March 5, 2024

When people think of “myths,” they often think of such stories as Pandora’s Box (the woman who took the lid off of a jar releasing all of the world’s ills upon the world, were taxes one of them?), or the Tale of...

Tuesday, March 5, 2024

The ability to enjoy our golden years is the same as the ability to be happy People say things like, “When I retire, I am going to be happy,” or “When I don’t have to work anymore, I will be happy.” The...

Thursday, February 1, 2024

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a...

Thursday, February 1, 2024

Wealth transfer is more than just a financial transaction; it's an opportunity for families to pass on their values, wisdom, and a legacy of love. Navigating this process requires careful consideration, open communication, and a shared...

Thursday, February 1, 2024

Many people may find the notion of creating and adhering to a financial plan about as appealing as doing housework. As everyone knows, putting off chores can lead to further procrastination. And, the longer you let things go, the more...

Wednesday, January 31, 2024

If you’re in the group of one in four Americans who do not already have a financial plan, it may be time to create your first one.1 Creating a financial plan from scratch may seem like an overwhelming task; however, having your...

Monday, January 1, 2024

Financial wellness is a state of being when one is in control of their finances, can cover expenses, and save for future goals. Consider financial wellness as your relationship with money; it can be either healthy or unhealthy....

Monday, January 1, 2024

Generational wealth involves financial planning, where parents or grandparents pass wealth to loved ones after they die. Entrusting family members with receiving an inheritance is more than just getting a hold of assets or a check in...

Monday, January 1, 2024

Identity theft is one of the fastest-growing crimes in the United States. According to Consumer Affairs, in a 2022 study, each year, seven to ten percent of the U.S. population are victims of identity fraud, and 21 percent of those are...

Monday, January 1, 2024

Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail? Analysts suggest there are four designated phases of retirement that a person often...

Friday, December 1, 2023

Having a good credit score is essential for many aspects of life. Most lenders rely on it to determine your creditworthiness, which can impact whether you get approved for a loan as well as the interest rates you get on credit cards...

Friday, December 1, 2023

The Christmas season is an excellent time of the year to review your financial planning strategy. Our finances are top of mind as most of us are monitoring our spending as the holiday and new year approaches. We can look back over the...

Friday, December 1, 2023

Consumer spending accounts for about two-thirds of U.S. gross domestic product (GDP), so it plays an outsized role in driving economic growth or slowing it down.1 For the last 18 months, U.S. consumers have kept the economy strong...

Friday, December 1, 2023

Here are some things to consider as you weigh potential tax moves between now and the end of the year. 1. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax...

Tuesday, November 28, 2023

Qualified Charitable Distributions (QCDs) are vital for those who must take an annual required minimum distribution (RMD) but seek a tax-advantaged strategy that may help lower their adjusted gross income (AGI). Using a QCD strategy,...

Wednesday, November 22, 2023

One of the more difficult conversations for family members to have is talking about estate planning. There are several reasons for this, including the reality of our own mortality and that of our loved ones. In some families, it is an...

Wednesday, November 8, 2023

Although achieving your financial goals is more challenging than following a step-by-step recipe, a few common ingredients and preparation methods may help improve your ability to manage financial resources. Here is one recipe for a...

Wednesday, November 1, 2023

As we approach the last quarter of each year, it is a good time to plan for the next one. Year-end planning is especially important for existing retirees and those hoping to retire in the next few years. There are tax and income...

Wednesday, October 25, 2023

With the increasing amount of personal information shared and stored online, it’s crucial to take proactive steps to protect yourself. Here are a few essential tips to help you safeguard your sensitive data and maintain your...

Wednesday, October 18, 2023

Financial education is constantly evolving. As investments, financial priorities, and the economy change, so do financial strategies and plans. To stay on top of your retirement and ensure that you are on your way toward your financial...

Wednesday, October 11, 2023

The vast majority of Americans need long-term care. According to the U.S. Department of Health and Human Services, 70% of people over age 65 may need some long-term care during their lives.1 Unfortunately, planning for long-term care...

Wednesday, October 4, 2023

In 1989, Stephen Covey, an American author, educator, and businessman, published his groundbreaking self-help book, 7 Habits of Highly Effective People. Regardless of income level, age, or career, anyone can learn and practice the...

Monday, September 25, 2023

Discussing charitable giving with family members helps them to understand how meaningful it is to you, the importance of altruism for the betterment of society, and how participating in philanthropy as a family can help bring everybody toge

Friday, September 22, 2023

In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.

Monday, September 18, 2023

Many experts continue to predict a recession for late 2023. However, consumer spending and employment figures remain strong and, unless there is some change in one or both of those factors, a recession may continue to loom just over the hor

Monday, September 11, 2023

A recent survey by Caring.com found that a whopping two in three American adults do not have an estate plan1—an alarming statistic, considering that an estate plan can protect your assets and ensure that they go to the right...

Friday, September 1, 2023

Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has

Wednesday, August 30, 2023

As you navigate through life, it’s important to continually reassess and adjust or add insurance coverage to fit your changing needs. Having the proper insurance is one of the best ways to support your financial future and can...

Wednesday, August 23, 2023

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy...

Tuesday, August 15, 2023

Unlike more turbulent investments such as stocks, whose revenue is dependent on your ability to sell at a profit, accounts that pay interest will always generate some amount of profit—with only some rare exceptions.

Wednesday, August 9, 2023

By focusing on goals and priorities, you can create a new, simplified lifestyle As retirement approaches, many older adults consider downsizing their home as a way to simplify their lives, reduce expenses, and focus on what truly...

Wednesday, August 2, 2023

If you are an educator, you know how important budgeting is. Whether you take a summer job to have a year-round income or rely on your school year to pay for bills, budgeting your money properly may help you to stay on track with your...

Wednesday, July 26, 2023

Those who receive an inheritance with the passing of a loved one are potentially given the gift of financial freedom if they choose to manage the wealth carefully. Did you know that only about one-third of adults have a prepared will,...

Wednesday, July 19, 2023

If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves...

Wednesday, July 12, 2023

For members of the "Sandwich Generation"—those currently in their 40s and 50s who are caring for children and their parents who are over 65-years old—estate planning may seem like a low priority. After all, when you're...

Wednesday, July 5, 2023

Being a small business owner can be rewarding but also may bring a lot of stress. You may be experiencing the pressures of trying to grow your company while providing a solid future for your employees. On top of all that, you will also...

Saturday, June 17, 2023

What is family wealth, and how do you preserve it? You have worked hard for years and accumulated wealth. You earned this money through your job, investing, and saving, and you want to preserve it for yourself and to take care of...

Wednesday, June 14, 2023

Having enough retirement income is a top concern for many Americans nearing or in retirement. Even though they may have saved consistently throughout the working years, they may be concerned that their retirement plans will not succeed.

Wednesday, June 7, 2023

Over the past several years, the housing market has been on a relentless upward trajectory, with home prices reaching record levels and demand outpacing supply. However, recent trends suggest that the market is starting to cool down, with

Wednesday, May 31, 2023

Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little easier

Monday, May 22, 2023

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and withdrawal

Monday, May 8, 2023

One of the important decisions a business owner must face is when and how to step out of the business — in other words, business succession planning. Do you expect to retire from your business? Do you have a plan in place?

Wednesday, May 3, 2023

Firefighters put their life on the line every day to protect communities from fires and other emergencies. They work long hours, often in hazardous conditions, and their jobs can take a toll on their health and well-being. In recognition of

Monday, May 1, 2023

Life insurance is an important part of a business. It may be used as a funding mechanism for your buy-sell agreement and as business interruption insurance to pay the business for interruptions caused by the death of key employees.

Sunday, April 2, 2023

With April’s federal tax filing and payment deadline on the horizon, Americans are dotting their i’s and crossing their t’s as they prepare for the countdown to Tax Day. But before you rush to get that return out the...

Saturday, April 1, 2023

April brings more than possible rain showers. It also marks Financial Literacy Month in the U.S. Whether you’re interested in a quick refresher or seeking to learn something new, it may be worth the effort to brush up on some...

Friday, March 31, 2023

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

Friday, March 31, 2023

Is 62 your lucky number? If you're eligible, that's the earliest age you can start receiving Social Security retirement benefits.Although collecting early retirement benefits makes sense for some people, there's a major drawback to...

Tuesday, February 28, 2023

Having a good credit score doesn't just get you the best interest rates. It can also reduce your auto insurance premiums, allow you to avoid security deposits, and in some cases, even help you get hired. But what goes into your credit...

Tuesday, February 28, 2023

When you are busy running a company, it may be difficult to think about your taxes. Proactive tax planning helps you to avoid an unexpected tax liability when you file. These helpful strategies may offset your tax liability and might...

Tuesday, February 28, 2023

When it comes to personal finance, there are a number of competing priorities that can make it difficult to determine where to focus your efforts. For many people, the choice between building emergency savings and working towards their...

Tuesday, February 28, 2023

Investing in U.S. stocks and bonds is a popular way for individuals and institutions to grow their wealth and generate income. However, it is important to consider the impact of taxes on these investments before and after making them....

Friday, January 27, 2023

It is a dream of many people to be able to own and run their own businesses. You have the potential to make a living and support your family, and being an entrepreneur provides a certain amount of flexibility that an employee of a...

Friday, January 27, 2023

Valentine's Day is one of the biggest holidays for romance and for lavishing gifts on that special someone in your life. While flowers and chocolates may be the most common gifts exchanged on that day, why not consider a gift that may...

Friday, January 27, 2023

You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people, you may be torn between paying off debt and...

Thursday, January 26, 2023

What is a revocable life insurance trust?A revocable life insurance trust is a trust that is funded, at least in part, by life insurance policies or proceeds. It can be an effective planning tool that provides a source of liquid funds...

Tuesday, December 20, 2022

You don't want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income.1. Postpone your income to minimize your current income tax liabilityBy...

Tuesday, December 20, 2022

Identity theft is one of the fastest-growing crimes in the United States. According to Consumer Affairs, in a 2022 study, each year, seven to ten percent of the U.S. population are victims of identity fraud, and 21 percent of those are...

Monday, December 19, 2022

Financial stress can have a direct negative impact on a person's health and happiness. Unfortunately, this may lead to a downward spiral. The more stress you're feeling, the larger your financial hurdles may seem, and the more you may...

Monday, December 19, 2022

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...

Wednesday, November 30, 2022

If one of your New Year's resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year's Eve countdown tradition, ask yourself these 10 questions to help review your investment plans.10....

Wednesday, November 30, 2022

State-mandated retirement plans result from legislation requiring employers to provide their employees with retirement savings opportunities. Businesses can comply with these laws by enrolling their employees into a state-sponsored...

Tuesday, November 29, 2022

The average family spends an extra $1,000 or more during the holiday season. From gifts and travel to dinners, shows, and decorations, each purchase adds up.1 How might you take full advantage of holiday cheer while avoiding the...

Monday, November 28, 2022

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

Tuesday, November 15, 2022

Part of the joy of making money and building wealth is not solely the aim to live a flexible life of convenience; it is also giving to those we love. Typically when we think of passing down money to loved ones, it is through a will...

Tuesday, November 15, 2022

For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It’s also a bookmark of sorts, especially for your finances—a perfect time to take stock of your...

Tuesday, November 15, 2022

The average U.S. income tax rate stands at just over 13%—and if you're like many taxpayers, you're always looking for new tips and tricks to help reduce this percentage.1There are a number of different tax planning moves you can...

Tuesday, November 15, 2022

If you hope to retire soon and are concerned about what the future may hold for your investments, you are not alone. Inflation has many retirees and soon-to-be retirees worried about outliving their savings and investments.1What might...

Wednesday, September 28, 2022

You don't need to wait until the end of the year to look for ways to minimize your tax liability. Tax planning should take place throughout the year to have you prepared well ahead of tax season. Here are six ways to minimize your tax...

Wednesday, September 28, 2022

Normal retirement age used to be 65, but things are way different today.You might be thinking about retiring, but how do you know when you are really ready for it, mentally and financially? For decades, the normal retirement age was 65...

Tuesday, September 27, 2022

Too much focus is placed on markets, investment returns and stock pricesHow you arrange your financial life is important. But so too is how you live your life. The second part is unfortunately often neglected in financial planning....

Friday, September 9, 2022

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...

Thursday, September 8, 2022

It’s also a good time to talk about the insurance crisis facing baby boomers. Baby boomers’ huge numbers and surprisingly shaky health threaten government old-age benefits. That’s why you need to bolster your own...

Wednesday, September 7, 2022

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

Tuesday, September 6, 2022

Given the daily responsibilities of running a business, planning for an event that may or may not happen may not seem to be a priority. But by preparing for a major disaster, your company will be in a better position to cope with more...

Tuesday, July 26, 2022

Some retirees put all their money into bonds, only to suffer from the impact of years of inflation. If you get a 4% return and inflation is 3% annually, your real return is only about 1% — not counting any fees or taxes. Retiring...

Tuesday, July 19, 2022

Doing your homeworkBefore investing in publicly traded securities, it would be wise to do some research--at least enough to understand just what you're investing in. An educated investment decision involves some knowledge of the stock...

Tuesday, July 12, 2022

All investing involves risk, including the possible loss of principal, and there can be no guarantee that any investing strategy will be successful.Dollar-cost averaging does not ensure a profit or prevent a loss. Such plans involve...

Tuesday, July 5, 2022

Because inflation could reduce your purchasing power over time, you'll probably need to contribute more to your retirement plan than you think. What seems like a healthy amount now is likely to feel smaller and smaller over time.All...

Wednesday, June 29, 2022

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...

Wednesday, June 22, 2022

Today, many people are concerned about saving for retirement or paying for a large ticket item, such as a child’s college education. If you belong to this group, now may be the time to organize your finances. It is never too...

Wednesday, June 15, 2022

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

Wednesday, June 8, 2022

Working towards financial independence can often be a lifelong process. But for many, financial freedom may come far sooner—and include some fun along the way. What are the differences between financial independence and financial...

Tuesday, May 24, 2022

Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior far from the hopes and plans of the benefactor.What happens when you leave...

Thursday, May 19, 2022

With companies downsizing to stay in business and corporate takeovers occurring almost every other day, the only thing certain in anyone’s career these days is change.Take Chris Brown, age 48, for example. After 15 years as a...

Tuesday, May 17, 2022

We’ve all heard about Warren Buffett, the 91-year-old multibillionaire known for his friendly demeanor, modest style of living in Omaha, and remarkable ability to create wealth.

Monday, May 2, 2022

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

Saturday, April 30, 2022

According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for the 2021-2022 school year was $10,740 for in-state students and $27,560 for out-of-state...

Wednesday, April 27, 2022

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.

Wednesday, April 20, 2022

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

Wednesday, April 13, 2022

When helping people get ready for retirement, financial professionals find the same issues come up over and over.