Have you ever considered that saving for college is different than saving for your long-term retirement?Let’s start with the fact that, when saving for college, you’re saving for a specific year (the year of high school graduation)....
Read MoreInvestopedia conducted a survey of 4,000 US adults in January and February of 2022 which included 1,000 individuals from each generation to better understand their financial literacy by generation. Side note: Seeing other generations’...
Read MoreThe average couple retiring today needs a whopping $315,000 to cover the cost of health care throughout their retirement.1 You’ll want to plan for those future health costs. Have you considered that your HSA (Health Savings Account)...
Read MoreForbesAdvisor.com recently reported, “According to a 2020 survey from Allianz, nearly half of Americans are worried that rising prices in retirement will cause basic expenses to be unaffordable once they stop working. But there’s an...
Read MoreEvery generation views their situation differently, from fashion to food to finance, and currently, there are seven defined generations. Let’s see how their views differ on finances and if you line up with your generation.1910-1927 The...
Read MoreFor young couples just getting started, new commitments, such as buying their first home or having children, bring with them the responsibility of making sure their loved ones are financially covered. Life insurance can help loved ones...
Read MoreAre you considering retiring before your full retirement age? Then you’re a part of the FIRE Movement, also known in long-form as "Financial Independence, Retire Early.” The Movement requires you to accumulate enough wealth to support...
Read MoreMany Americans underestimate the impact that caring for a loved one can have on their lives, marriage, work, and finances. In a column by Michelle Singletary, a Washington Post columnist, an “AARP study found that three-quarters of...
Read MoreA 401(k) is a common savings tool for many working Americans. It’s an easy way to save and generally comes with the benefit of employer matching. But are you really clear on where your money is invested and if it’s the optimal place...
Read MoreWe’ve all seen the commercials for checking your credit score, and some even talk about ways to boost it, but if you’re over 50 and well established, does the number really matter that much? According to the FICO® Score model, the...
Read MoreAccording to Annuity.org, there are multiple reasons Americans are investing billions into annuities. There’s much talk around annuities regarding retirement planning, which leaves the conversation open to a lot of questions and...
Read MoreIf the fear of outliving your retirement savings haunts you, then looking into income sources that can keep going as long as you do may not be such a bad idea. One way to potentially alleviate this financial anxiety is to consider an...
Read MoreInsurance gets a bad rap and, as policies go, life insurance might be at the top of the list. But we’d like it to be on the top of your list for another reason. We often think of insurance as a means to paying for funeral expenses, but...
Read MoreMedical liability is a pervasive concern for physicians because of the potential effects of a settlement and the costs of fighting a prolonged and costly legal battle. While laws capping tort damages have been effective in some states,...
Read MoreMost of the nation’s teachers and K-12 educational employees are members of their state’s public pension plans. After years of service, these plans have promised a secure retirement for educators and support staff. Unfortunately, a...
Read MoreYour first line of defense against potential litigation will likely be insurance in the form of an “umbrella policy.” Your financial professional can help with the right coverage but be prepared for a policy that’s at least equal to...
Read MoreAn annuity is an insurance product that pays out guaranteed income and can be used as part of a retirement strategy. The income you receive from an annuity can come monthly, quarterly, annually, or even in a lump sum payment. But what...
Read MoreAccording to IRS Revenue Procedure 2020-45, a couple age 70 or older who both have the right kind of long-term care insurance policy can deduct as much as $11,280 in 2021 an increase of $420 from the $10,860 limit for 2020. Essentially...
Read MoreAccording to the US Census Bureau, there were 430,411 new business applications in January 2022.2 Starting a business sometimes comes with a learning curve that can trip you up, so it makes sense to get as many things as right as...
Read MoreOne of the most complex parts of preparing for retirement is thinking about life where working and building income isn’t the main focus. At times you may become so overwhelmed thinking about saving for an unknown future that you end up...
Read MoreDuring the early months of the Covid-19 pandemic, all 50 states and the District of Columbia transitioned to telemedicine, in part due to state emergency orders that mandated the coverage of telehealth visits and waived requirements...
Read MoreIt’s no surprise that couples disagree throughout their marriage. For the most part, those differences can be resolved relatively quickly, but common ground can feel very far off when it comes to estate planning. A few critical...
Read MoreWills and trusts are both estate-planning tools that can help ensure your assets are protected and bequeathed to your heirs. However, the transfer process becomes more involved when passing wealth to a subsequent generation. We highly...
Read MoreIt’s tax season for you and a veritable identity gold mine for thieves! Empowered with a name and Social Security number, crafty thieves can open credit cards, take out loans, wipe out your bank account and even file a tax return in...
Read MoreAnnuities can be mysterious. You might even feel like they come with a hidden agenda, which could explain why you’re not too interested in adding them to your portfolio. But as we get closer to our 60’s and live longer, now might be...
Read MoreA combination of rising wages and inflation is threatening to push some taxpayers into higher tax brackets this year, which means you could owe more to Uncle Sam come 2023’s filing season. With inflation at its highest level in nearly...
Read MoreSince taking office, President Biden has expressed his intention to close the step-up in basis loophole as a means to debt reduction. For some investors, this causes alarm as they were planning to use this loophole to leave investments...
Read MoreIdentity theft isn’t a new phenomenon; however, the face of identity theft has changed dramatically. Over the years it’s evolved with the technology and economic landscape that surrounds it. Understanding your exposure and staying...
Read MoreIf you’re getting Social Security retirement benefits, some members of your family may also qualify to receive benefits on your record. Your ex-spouse or spouse may receive a monthly payment of up to one-half of your retirement benefit...
Read MoreThere are many benefits of being self-employed, but sometimes it can feel as though there are just as many hindrances. Many owners consider staying abreast of tax laws and changes tedious and frustrating, so partnering with an expert...
Read MoreIt’s not often that the IRS provides a tax-free option for your money—so when it happens, it’s a good advantage to take. A Health Savings Account (HSA) is the one program that offers you three different tax benefits. Most people think...
Read MoreHappy New Year! It’s a new year, a new you, and a new time to do things differently—like your taxes. Tax-filing season is officially here, and there are many things you can do to be prepared and organized. Here are a few simple tips...
Read MoreThe Coronavirus Aid, Relief, and Economy Security Act (CARES Act) provides relief to self-employed people by delaying the Social Security tax payment due in 2020 for two more years. Specifically, individuals were allowed to defer 50%...
Read MoreSmall businesses need suitable types of insurance to protect assets against damage and legal claims. While most business owners hope they’ll never have to rely on insurance, the truth is, it’s an essential investment. It could make the...
Read MoreThere’s a potential game-changer being discussed when it comes to retirement savings. It’s called SECURE Act 2.0 (Setting Every Community Up for Retirement Enhancement Act), and it’s intended to help more Americans ensure they’ll have...
Read MoreThe Internet is your entrance to the marketplace for the world from the comfort of your home or office. There are safety concerns to address when it comes to identity theft and fraud because organized identity theft groups constantly...
Read MoreIf you're one of America's 64 million Social Security beneficiaries, you might want to prepare yourself for a significant pay raise. According to the Social Security Administration, the annual cost-of-living (COLA) benefits increase...
Read MoreMany families have plans to give their children and grandchildren financial gifts when they die, but it might make sense to gift earlier. Making financial gifts during your lifetime can significantly impact their lives, sometimes when...
Read MoreEvery year the federal government decides how much of your estate isn't subject to taxes when you die. This year, thanks to inflation, it increased to $11.7 million. This means, when you pass away, the value of your estate is...
Read MoreMillennials are victims of many stereotypes, but the one that portrays them positively suggests they're a planning generation. They research and collaborate and plan for all life's major decisions, and their long-term care (LTC) isn't...
Read MoreCandidates run campaigns on promises and plans, but that doesn't mean they ever come to fruition. The Biden administration will maintain a Democratic majority in both the House and the Senate for at least the next two years, giving him...
Read MoreDoes your estate plan include transferring your wealth onto your family? Have you looked over potential tax implications? It's important to understand that your beneficiaries may be in for sticker shock when they receive a tax bill...
Read MoreGuaranteed returns, you ask? Yes, but it's complicated – one simple word can make a big difference. If you have a fixed annuity, you get a fixed rate of return. If you add one simple word "indexed" creating a fixed indexed annuity,...
Read MoreWe spend years of our life working and saving for that retirement dream, and as you get closer, it's important to take all steps to preserve your nest egg. Perhaps a move across state lines will help in that endeavor. Some states don't...
Read MoreCryptocurrency is a form of digital payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that...
Read MoreThe Social Security Administration (SSA) recently announced that the annual cost-of-living adjustment (COLA) for benefits would be 1.3%. Here's a closer look at some of the most significant changes affecting Social Security recipients...
Read MoreFinancial Literacy Month suggests it's time to take advantage of available tools, resources, and tips for financial education that can help increase your financial success. This month put yourself back in the driver's seat! Do a...
Read MoreDon't overlook the benefits that annuities provide during your retirement planning years. Yes, some myths make them appear to be a lousy choice, but there are reasons to trust in financial insight rather than the Google results on the...
Read More