Blog

What To Know Before Drafting A Will

A will is an important document most people don’t want to think about, but it’s crucial to have in place to protect your assets and ensure your loved ones receive what you want them to.It can be wise to have a lawyer write...

A Tough Times Survival Guide for Small Businesses

Small businesses may often find themselves struggling, and there are many situations in which business owners may find themselves weathering a storm and hoping to make it through. While the strength and fortitude of those who run small...

Reading and Understanding Your Life Insurance Policy

Most people hate the thought of reading a life insurance policy (or any insurance policy, for that matter). However, if you can find the time and muster the patience, it's probably a good idea to read through your policy. If you do,...

Medicare Will Not Cover All Health Care Costs

There are out-of-pockets, limitations and gaps that Medicare doesn’t cover Medicare is a federal health insurance program for individuals aged 65 or older and certain younger people with disabilities.And despite being a widely...

From Riches To Rags In Three Generations: Managing Generational Wealth Checklist

When discussing multigenerational wealth it is common to come across proverbs that acknowledge the fact that generational wealth typically won’t make it past the third generation. In the United States the saying goes, “from...

Minimizing Taxation of Your Social Security Retirement Benefit

Your Social Security retirement benefit may be taxableDid you know that you might have to pay federal income tax on your Social Security retirement benefit? If the only income you had during the year was Social Security income, then...

A Resilient March

The financial markets’ resilient performance during March was striking, despite pockets of uncertainty surrounding the strength of the economy—and not to mention concerns over the durability of the banking system. The...

Stocks and Bonds Before and After Taxes

Managing Investment Returns with Tax-Efficient Strategies 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...

Spring Clean Your Finances

As temperatures warm up, trees begin budding, and the days get longer, you probably throw open your windows and think about spring cleaning your home. As you tackle washing windows, cleaning carpets, and sorting out the garage,...

Financial Mistakes to Avoid in 2023

Could you be losing money because of simple monetary mistakes? Avoid these money-wasting habits in 2023 to have more cash when you need it—or save it for a rainy day. Failing to budgetConventional wisdom says to follow the...

SVB Collapse

Financial markets were shaken last week as Silicon Valley Bank (SVB), the California bank subsidiary of SVB Financial Group (SIVB), fell into FDIC receivership. SVB is the first FDIC-insured institution to fail since 2020 and the...

All About Credit Scores

Every consumer is entitled to a free credit report every 12 months from each of the three major credit reporting agencies:ExperianTransUnionEquifaxBesides the annual report, you may be entitled to an additional free report under...

A Beginner’s Guide to Investing

When you start to consider if investing is an appropriate option for you, you may have questions. You might want to ask:How do I invest money, and where?How much money will I need?What are some common strategies for someone that has...

Wealth Due to Inheritance

What is it?IntroductionIf you're the beneficiary of a large inheritance, you may find yourself suddenly wealthy. Even if you expected the inheritance, you may be surprised by the size of the bequest or the diverse assets you've...

The Facts of LIFE (Living Independently For Elders): Financial Planning and Senior Independence

Navigating elder care and elder care finances in the U.S. can be a challenge even for the most well-prepared households. So what, exactly, is involved in senior financial planning? What steps can you take now to help you be prepared...

Independent and Thriving: What to Consider In Your Later Years

While you never know your needs as you age, the first step is thinking about your financial situation and health today so you can plan for your later years. With a one in four chance of making it to our 90th birthday, being independent...

Opportunities in 2023

Whether you’re one to set ambitious New Year’s resolutions or simply use the beginning of the year to reset on a few habits, there’s almost always some value in reflecting on the past year before looking ahead. The...

Debt Snowball vs. Debt Avalanche: The Cold Hard Facts

What would you do if you didn't have a single monthly payment each month on debt? No car, credit card bills, student loans, or even a house payment! Living a debt-free life with no monthly payments is possible for everyone, regardless...

Understanding Capital Gains Tax as an Investor

As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth....

Don't Miss Out on These 5 Commonly Overlooked Tax Deductions

When you own a business, you get to deduct business expenses from your business income. This general rule applies, subject to certain limitations, whether you are a sole proprietor with employees or a self-employed freelancer...

Impact of SECURE 2.0 on Retirement Savings

As you may know, Congress passed SECURE 2.0 as part of the fiscal 2023 spending package. This bipartisan retirement security legislation could present opportunities for your retirement savings strategy.  Below you will find a...

Are You Fiscally Fit? 5 Ways to Check the Health of Your Wealth

Just as it is important to be physically and mentally fit, it is also important to be fiscally fit. Fiscal fitness is not only about how much money you earn or the balance in your savings or retirement accounts. Instead, it is...

A Path to Setting and Reaching Your 2023 Goals

What if you focused on your system instead of just your goals? Setting goals for a new year can feel overwhelming.  We all know that resolutions don’t last, but we also feel the energy that comes with a new year of...

Key Numbers 2023

Start preparing for the upcoming tax season by reviewing Key Numbers 2023 which provides tax reference numbers at a glance.

LPL Financial Research Outlook 2023: Finding Balance

LPL Research’s Outlook 2023: Finding Balance is our guide to how the readjustments in the economy and markets may impact you in the coming year. The disruptions may not be fully resolved and there may be more challenges to...

Top Year-End Investment Tips

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December...

IRS Increases 401(k) Limit By Record Amounts

As inflation soars, you can now save a lot more for your retirement. On October 21st, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up...

5 Key Steps To Help Women Strengthen Their Business and Their Retirement

As a female entrepreneur, you may face different challenges than your male counterparts. For example, women were disproportionately affected by the COVID pandemic. 1 They also tend to earn less than their male peers—largely in...

Caring for Your Aging Parents

What is it?Caring for your aging parents is something you hope you can handle when the time comes, but something you probably hope you never have to do. Caring for your aging parents means helping them plan for the future, and this can...

Appropriate Checklists for Year-End Tax Planning

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

Looking Ahead

October is now behind us and it has delivered on its track record as a historically favorable month for stocks, offering some respite for investors as major equity indices rose for the month. The downside pressure on equities had...

Your Long Term Care Action Plan: A Step-by-Step Guide

Those turning 65 this year have a 7 in 10 chance of needing long-term care (LTC) at some point.1 With the cost of a private room in a nursing home now topping $100,000 per year, the thought of paying this — or for a loved...

How to Protect Your Small Business from Cyber Threats

In addition to visiting the SBA cybersecurity website, business owners might want to review "Protecting Personal Information: A Guide for Business" and "Start with Security: A Guide for Business," both available on the FTC...

Could the Worst be Behind Us?

First, we want to acknowledge the tremendous damage and displacement caused by Hurricane Ian. Our thoughts are with those impacted by this devastating storm.This has clearly been a challenging year for households. Stocks and bonds are...

The Ultimate Juggling Act: 4 Ways to Save for College and Retirement

With the average price for private college tuition and fees hitting $43,750 for the 2021-2022 school year and public college attendees paying more than $28,000 per year, many parents are nervously anticipating what will happen after...

Making Decisions About Medicare

This is a general overview of Medicare coverage. For more information, visit medicare.gov.You can also get free, personalized help from a trained counselor by contacting your State Health Insurance Assistance Program (SHIP). Your...

All You Need To Know About Eldercare Arrangements

It’s never too early to think about how and where you want to live when you’re older.How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of...

The Best and Worst of Times

When it comes to stock market performance, August was “the best of times and the worst of times.” The strong market rally that peaked in mid-August was viewed by many analysts as a transition from a bear to bull market,...

Life Insurance at Various Life Stages

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities...

Women and Money: Taking Control of Your Finances

It's important to have a clear understanding of your overall financial position.As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start...

Seniors and Debt: Getting Back on Track after a Post-Retirement Financial Setback

You may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free retirement is not the reality for some. Challenges from stock...

The Different Stages of Financial Freedom

If you're living paycheck-to-paycheck or stuck in a job you don't love just to pay the bills, it can be easy to feel as though you're financially trapped. But financial freedom doesn't need to be elusive—with some focused and...

Some Things Investors Need to Know About Booms and Busts

Economies and markets are cyclical. They may include periods of wealth creation and times of bursting bubbles that bankrupt companies in a major downturn."Boom and bust" cycles may last anywhere from a few months to a few years or...

Tips to Avoid Common Estate Planning Mistakes

With a few simple actions, you can ensure your estate planning is effective.Whether your estate plan is simple or complex, there are many details, which are often overlooked, that can undermine your plan’s effectiveness. Are you...

Big Week for Market Watchers

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of...

What Causes Inflation and What to Do About It

A huge challenge is planning for your retirement savings to outpace inflation Some of us may remember the “good old days,” when gasoline prices were as low as 25¢ per gallon. Others may recall when a can of soda cost...

A Financial Planning Guide for Families with Disabilities

About 61 million adults in the U.S. live with a disability. Many of these disabilities are serious enough to impact a person’s daily life.1 There may be financial benefits available to those whose disabilities leave them unable...

Top 5 Things Millennials Should Consider When Retirement Planning

Planning for retirement can seem premature when you have only been in the workforce for a decade or so. But as the oldest Millennials begin to hit middle age, retirement suddenly does not seem so far away. From record-busting market...

Looking Forward

As the calendar has turned to July, investors would certainly like to forget the first six months of 2022. However, the Fourth of July Independence Day holiday does bring with it a reason for celebration. Not only is it the 246th...

5 Life Events That Impact Your Life Insurance Needs

A life insurance policy is part of financial planning. Life insurance is there to help ease the financial trauma that comes with the loss of a spouse, parent, or partner. As you encounter different events in your life, you may need to...

Charitable Gifting

What constitutes a gift to charity?A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count. There...

Financial Aid Resources for Your Incoming Freshman

College is expensive for many people. The average tuition and fees at a college or university for the 2019 to 2020 academic year at a four-year institution was $9,4001. This may include the cost of tuition, books, and housing. For some...

4 Economic Benefits of Homeownership

Even though housing prices throughout much of the U.S. are at or near all-time highs, there are still many distinct financial advantages to owning a home. 1 From tax benefits to capital gains exclusions and guaranteed rates of return,...

4 Key Investments You Should Consider as a Small-Business Owner

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

Military Benefits

What is it? As a current member or veteran of the U.S. armed forces, you may be entitled to a number of military benefits. The term benefits, as used here, includes military pay as well as other programs set up to improve the lives of...

Life Insurance: Back to the Basics

As you consider the wide range of life insurance coverage available, you may wonder what type really fits your needs now, and what will suit your needs in the future. A good, first step is to ask yourself why you are buying insurance,...

An Attractive Entry Point

It has been a turbulent 2022 so far for investors. The S&P 500 Index is on track for its worst April in more than 40 years, the Nasdaq entered a bear market on April 26 with its more than 20% decline, and bonds, which typically provide...

7 Retirement Considerations

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...

Social Security Retirement Benefit Basics

Social Security benefits are a major source of retirement income for most people. Your Social Security retirement benefit is based on the number of years you've been working and the amount you've earned. When you begin taking Social...

Invest in Your Financial Education During Financial Literacy Month

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...

A Ways to Go

“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” - Sir John Templeton According to the guidance of revered investor Sir John Templeton, it appears to us that this market...

What to Expect on Your 2021 Tax Return

The federal government's response to the COVID-19 pandemic continues to impact individual income tax returns, from the suspension of federal student loan interest to expanded child tax credits. For many taxpayers, this may mean your...

Tips You Can Use for the Credit Card Blues

Credit card debt is a major problem in the United States. According to the Bureau of Consumer Financial Protection, over 175 million Americans have at least one credit card. In addition, the Federal Reserve Bank of New York estimates...

Protect Financial Information from Prying Eyes on the Web

As more and more consumers search for financial information on the Internet, they may inadvertently leave themselves open to being “tracked” by certain companies and individuals. Visitors to financial websites have created...

Navigating Geopolitical Tensions

The green shoots are hard to see right now as spring approaches, clouded by war in Ukraine. Democracy is under attack and innocent lives are tragically being lost. But while we keep one eye on overseas developments, the other remains...

The Basics of Financial Fitness

There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of...

Positivity Amidst Uncertainty

Stocks have gotten off to a very rocky start in 2022, with the potential for Federal Reserve rate hikes coming and the geopolitical worries over Russia and Ukraine only adding to the uncertainty. We don’t want to minimize the...

What You Should Know About Contributing to an IRA at Every Age

A traditional IRA offers a great way to shield income from taxation while boosting your retirement accounts. Meanwhile, a Roth IRA can let you pay tomorrow's taxes today. But how can workers who are eligible to contribute to either...

Home-Health-Care Factors for You to Consider

Are you thinking about home health care as a solution to providing help with daily activities such as bathing, meal preparation, and housekeeping? Many older individuals benefit from receiving assistance in the comfort of their own...

The Origins and Significance of Black History Month

February marks Black History Month and is a time to celebrate and acknowledge the achievements of African Americans as well as the crucial role they played throughout U.S. history. What started as a small week-long celebration decades...

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. The S&P 500 Index fell nearly 10% from January 3 through January 27 amid fears that the...

What Can the Best/Worst Stocks of 2021 Tell Us?

Looking for longer-term market trends that might shape the next few years. Let’s be honest for a second: the DJIA, the S&P 500, NASDAQ, and the Russell 2000 all delivered one of the most surprising years in recent history.

Suggestions for Staying Safe Online from the IRS

The Internal Revenue Service (IRS) is helping families, teens and senior citizens learn about the continued importance of protecting personal information in helping fight identity theft and tax fraud.“The IRS is asking parents,...

New Beginnings in 2022

With the New Year comes new beginnings, new goals, new challenges, new friendships, and new opportunities. 2021 was an incredible year for the economy and investors, but to us, the future remains bright for 2022 and beyond.

The Basics of Financial Fitness

There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of...

Pay Down Debt or Save for Retirement?

Focusing on Your Finances

While most people find the notion of creating a budget about as appealing as cleaning out closets, most would agree that the result—a well-crafted and useful budget—is worth the work.

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

Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key...

LPL Financial Research Outlook 2022: Passing the Baton

LPL Research Outlook 2022: Passing the Baton is designed to provide insight and analysis for the next set of challenges the economy and markets may face. While the economy continues to move forward, we’re still feeling some...

Focus on Your Wellness This Holiday Season

What To Know About Potential Tax Changes in 2022

Things to Consider When Writing a Business Plan

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...

4 Year-End Tax Planning Tips for Small-Business Owners

The past two years presented many small-business owners with unprecedented challenges. This year’s tax planning preparations include necessary measures for small-business owners to satisfy existing, new and modified tax laws that...

Your 2022 Homebuying Game Plan

Over the past year, the real estate market has been marked by unpredictability and, at times, overheated competition. This has resulted in some buyers bowing out after one too many disappointments while other potential buyers put off...

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...

10 Best Financial Benefits for Military Families

Members of the military have a lot of special financial challenges that most people don't encounter. However, they have access to many benefits, tax breaks and legal protections that can make a huge difference in their families'...

What You Need To Know About Financial Fraud

Many of us grew up in a world where it was customary to be friendly, courteous, and trusting. Unfortunately, assumptions concerning these standards of conduct can sometimes get us into trouble. Con artists offering a variety of...

Consider the Value of Long-term Care Insurance

How can you cover the costs of future care for you and your loved ones? Individuals who have worked hard and built up assets over the course of their careers may be particularly concerned that their savings could be affected by a...

A Helpful Guide to the Affordable Care Act

If you're part of the one in three Americans who are uninsured or don't have access to an employer-sponsored healthcare plan, the Affordable Care Act (ACA) may be able to help. The ACA allows you to buy health insurance on a public...

Data Breaches Are Inevitable – Here’s How to Protect Yourself Anyway

It’s tempting to give up on data security altogether, with all the billions of pieces of personal data – Social Security numbers, credit cards, home addresses, phone numbers, passwords and much more – breached and...

Estate Planning for Everyone

Have you every wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here’s a quick look at some steps you should...

Put Yourself in Front of the Savings Game

Like dieting, budgeting your expenses can benefit from long-term commitment. However, human nature leads many of us to become frustrated when we can’t immediately have the things we need or want. As a result, the best-laid...

Wellness Trends that are Here to Stay

A lot of trends in the health and wellness space leave you scratching your head, saying “Huh?” but there are some that are worth a deep dive. Bone broth Not everyone wants soup made with heavy cream, meat, and veggies,...

Everything You Need to Know about the FAFSA for 2021

One of the most important pieces of the college financing puzzle is the Free Application for Federal Student Aid (FAFSA). Without the FAFSA, a college student is unlikely to be able to apply for or receive certain types of federal...

Fall Into a Healthy Routine

Fall is in full swing, and for most families, so is a return to the school year routine. But for some kids, adjusting back to this schedule can be stressful—and can take a little longer than you’d like to find balance. But...

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...

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...

Four Tips for Gaining Financial Independence

The golden rule of financial planning: if you can plan it, you can pursue it Over the past July 4th, we celebrated our country’s history of declaring independence and guaranteeing basic human freedoms. But true freedom includes...

Life Insurance Protection for All Life’s Stages

As your life changes, your financial needs often change, as well. Regardless of whether you are just starting out in life, are in mid-career, or are at the peak of your earning years, life insurance can help you achieve a variety of...

Think Your New House is a Fantastic Investment?

Housing is rarely the best use of your money from an investment viewpoint Despite continued low mortgage rates and tales of bidding wars, multiple offers and all-cash closings above asking-price, would-be-home-purchasers should...

Inheritance Planning Can Help Avoid Headaches

Your financial professional can help ensure you leave your estate in the best possible way Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of...

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....

Taxpayer Appreciation Day—Recognizing Taxpayers' Contributions

hough 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...

Changes to Student Loans and Payments in 2021

The student loan landscape has changed dramatically since the beginning of the COVID-19 pandemic. From the suspension of interest payments on federal student loans to tax incentives for employers who pay their employees' student loans,...

Picking Up Speed

Dear Clients and Friends, In the first half of 2021, the U.S. economy powered forward faster than nearly anyone had expected. Speed can be exhilarating, but it can also be dangerous. In our view, the overall economic picture remains...

Five Divorce Settlement Pitfalls to Watch Out for, No Matter How Big the Estate

Bill and Melinda Gates and Settling $140 Billion estate Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often your...

LPL Financial Research Midyear Outlook 2021: Picking Up Speed

LPL Research Midyear Outlook 2021: Picking Up Speed is designed to help you navigate the risks and opportunities over the rest of 2021 and beyond. While the speed can be exhilarating as economic growth accelerates, it can also be...

How to Teach Your Children Financial Wellness

Teaching children about financial wellness should start at an early age. Learning how making money, saving, and spending is related and the first step in teaching your child how to understand the value of money. Children learn from...

Do You Have FOMO When it Comes to Investing?

Fear-of-missing-out is a very real emotion – but it can derail your portfolio Every day we’re bombarded with reports of what’s hot and what’s not – fueling a fear-of-missing-out (FOMO) on some great...

The Best Money-Saving Travel Tips for 2021

If 2020 made you fantasize about a trip as soon as travel restrictions were lifted—and you’re still waiting—you aren’t alone. Although 2021 was poised to be a comeback year, it is shaping up to be another summer...

Helping Young Adults Understand Insurance

Insurance should be part of everyone’s plan – and it should evolve too Young adults starting out in life, especially newlyweds, need insurance. But what kind? As a start, a good term life policy likely is a smart move....

Annuities and Market Risk: What You Need to Know

Market risk is something all investors may worry about, but those close to retirement have limited time to recover from market loss. If you are within ten years of retirement, now is a critical time for your portfolio to continue to...

Your Retirement Portfolio: Five Things to Consider Before Market Turbulence

It is human nature to seek advice when things aren't going well or when an unforeseen event occurs. Often, people seek financial advice from a professional only when the stock market and their investments are experiencing turbulent...

2021 is the Year to be Money Savvy

Definition of Savvy: having or showing perception, comprehension, or shrewdness, especially in practical matters. Money Savvy: smart with money, money-wise, financially astute, shrewd. If you started saving for retirement at an early...

Maintaining the Investment You Made in Your Home

For many Americans, the home is the single biggest purchase made during their lifetime.[1] As a result, it's important to do everything possible to keep it in good condition. Even moderate or short-term neglect can be dangerous, as...

Market Volatility and the Importance of Staying the Course at Different Ages

When you invest in the stock market, you want to see growth, but unfortunately, in most cases, investments do not grow all the time. Inevitably, the market goes up and down, and to safeguard your potential for long-term growth, you...

5 Types of Retirement Plans for Small Business Owners

Small business owners are different from the average hourly employee in a lot of ways. One often-overlooked difference is how they plan for retirement. Although small business owners may offer a classic 401(k) for their workers along...

Financial Planning Tips for Small Business Owners

When you're a small business owner, you need to pay extra careful attention to both your business andpersonal finances. Your financial planning strategies should simultaneously encourage the success ofyour business while also working...

Applying for First-Time Homebuyers Loans

Qualifying for a first-time homebuyer loan can save you thousands of dollars when you purchase what may be your largest investment to-date.[1] But even if you've owned before, you could qualify as a first-time homebuyer if you meet a...

IRA Mistakes to Avoid

If you already contribute to a 401(k) or another retirement account through work, you may not have spent much time thinking about opening an individual retirement account (IRA). However, an IRA might provide you with a way to boost...

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...

IRS Provides Needed Flexibility for Health FSAs

On February 18, 2021, the Internal Revenue Service announced greater flexibility to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Taxpayer...

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...

Appetite for Risk

Many prospective investors eventually shy away from a commitment when they hear the dreaded “R” word: risk. By itself, risk is innocuous, carrying no special meaning or predictive result. But the idea that investing...

The New IRS Tax Rates and Deductions for 2021

Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and a there are plenty of changes that will impact taxpayers in 2021. While it’s...

Re-thinking Your Bucket List

When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great...

Handling Market Volatility

Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there’s no foolproof way to handle the ups...

Understanding the Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is a federal tax credit that can provide great benefit to families. According to the IRS, in 2019 alone, approximately 25 million workers and families received over $60 billion in EITC payments, with...

How to Build a Retirement Plan

A recent survey revealed that four out of every 10 Americans don't believe they'll ever be able to afford to retire.1 But this pervasive belief may be too pessimistic. Even if your retirement account balances are behind schedule, there...

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...

Choosing a Retirement Plan for Your Business

You’re an entrepreneur and you’re not looking back. You’ve opened your own business, whether alone or with partners, and you’ve achieved success. Now you’re thinking about retirement, not just for you, but...

Health Care Costs Expected to Jump in 2021

As we approach the end of the year, employees and employers are both wrestling with changes to employee benefits for 2021. While every year always brings about changes, this year seems especially daunting given that the COVID-19...

What Retirement Plans Are Available?

When securing your financial future, saving for retirement usually is a no-brainer. But between an IRA, Roth IRA, 401(k), 457(b), SEP IRA, and the other retirement vehicles, how can you know which plan or plans are right for you? The...

New Year's Resolutions to Get Your Finances in Order

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances...

The Importance of Financial Wellness

Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so...

Key Tax Deadlines for 2021

While the 2020 tax year saw some significant changes to filing deadlines due to the effects of the global pandemic, the 2021 tax season seems to be set to be on track with normal filing deadlines. With the pandemic still in sight, it...

End of Year (EOY) Deadlines Checklist

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...

Surviving the Holiday Season Debt-Free

With the holiday season just around the corner, you may be ready to get a jump on your holiday shopping. Unfortunately, for many, holiday shopping easily gets out of control. When you are in the giving spirit, you may find yourself...

Tax Benefits of Charitable Planning

When you donate to a charity, you want to know that your donation is going to its highest and best purpose—which means minimizing the tax exposure of the donated assets. One way to accomplish this, whether you're hoping to donate...

Want to Make a Donation? Check Out This List of National Charities

Donating to charity is one way that people can help to change the world for the better, and as an added bonus, your contributions may even qualify you for a tax deduction. But with so many great charities around the country, how can...

Smart Shopping During the Holidays

The holiday season is just a short time away, which means the shopping season is about to be in full swing. Shopping for holiday gifts is stressful but also a little fun, especially when you think bout the joy you will bring to those...

End of Year Planning: Set Goals and Reduce Taxes

By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning,...

No Matter Who Becomes President, Start to Plan

Tips for how to start your estate planning process today – for your future Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate...

Investing in an Election Year

The world's events always affect the markets, and making smart investment choices requires you to look at what's happening around the world. But what about during an election year? How should you invest while the country is deciding...

Retirement Plans and Estate Planning

When you die, what will happen to your retirement plan benefits? In general, your retirement plan benefits pass to the beneficiaries you designate on the plan beneficiary designation form. Your benefits will generally be subject to...

12 Estate Planning Must-Dos

Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. Do you have a will and powers of attorney for...

Beyond Retirement: Consider Your Other Goals

Retirement savings isn’t the only financial goal you might want to consider in a lifetime. There are other considerable milestones that you want to take into account as well. When it comes to financial stability, people tend to...

End of Year Planning: Set Goals and Reduce Taxes

By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning,...

Nuts and Bolts: How to Roll Over Your Employer Retirement Plan Assets

There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer’s retirementplan. The funds are never payable to you. An indirect (60-day) rollover is a...

Retirement Plans for Small Businesses

Retirement Plans for Small Businesses As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you're allowed a deduction for contributions you make to an...

Traditional vs. Roth IRA

Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 22.5 million...

Strategies for Managing Retirement Assets in the Event of a Layoff

Layoffs are a fact of corporate life as companies grapple with economic cycles and global competition. If you get caught in a corporate downsizing and you are not immediately moving to a new employer, you generally have three options...