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Friday, January 27, 2023

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...

Friday, January 27, 2023

Are you getting close to retirement and trying to stay on top of any changes to the retirement laws that may impact your goals and strategy? With the Secure Act 2.0 now signed into law, there are numerous retirement-related provisions...

Friday, January 27, 2023

What health care benefits are available in retirement?Health care in retirement is available from many sources. Government programs (such as Medicaid and Medicare) offer numerous health care benefits. However, you may need to purchase...

Friday, January 27, 2023

As the year comes to a close, probably the last thing on your mind is filing your taxes in spring. But if you start assembling the necessary documents and information now, you’ll experience less stress and be in a far better...

Wednesday, December 28, 2022

Improving return by minimizing taxesAlthough we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...

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Wednesday, December 28, 2022

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...

Wednesday, December 28, 2022

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount...

Wednesday, December 28, 2022

When it comes to New Year's Resolutions that include financial goals, writing them down and being visible is essential to your success. After you’ve written down what your financial resolutions for the New Year are, tell others...

Tuesday, November 29, 2022

As inflation soars, you can now save a lot more for your retirementOn 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 from...

Tuesday, November 29, 2022

Shifts in tax brackets as well as the standard deduction slated for 2024On October 18, 2022, the Internal Revenue Service (IRS) announced tax year 2023 adjustments for tax returns filed in 2024.From the IRS directly:“The tax...

Tuesday, November 29, 2022

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 yearConsider opportunities to defer income to 2023, particularly if you think you may be in a lower tax...

Tuesday, November 29, 2022

Social security is way behind inflation so you may need a better retirement planIn October of 2022, the Social Security Administration announced that Social Security and Supplemental Security Income (SSI) benefits for more than 70...

Monday, October 24, 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.1 What...

Monday, October 24, 2022

World currency fluctuations mean more than calculating our travel costs.The strong dollar is much in the news lately. But most Americans, other than tourists beyond our shores, don't focus on what that means to them. For U.S. investors...

Monday, October 24, 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...

Friday, September 30, 2022

Planning personal finances used to be the worry of the wealthy and their worry—usually preservation of wealth—was attended to by teams of trust officers and lawyers.

Friday, September 30, 2022

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend.

Friday, September 30, 2022

Cut a pie into 100 slices and what do you have? Barely a nibble. Seemingly an inconsequential share of anything, 1% can actually make a tremendous difference to your financial security.

Friday, September 30, 2022

An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you...

Monday, August 29, 2022

Understanding long-term capital gains taxes when you sell investments. Market downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that

Monday, August 29, 2022

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare

Monday, August 29, 2022

Remember, early planning puts time on your side.Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it. Let’s look at Individual Retirement Accounts (IRAs) and 401(k)...

Monday, August 29, 2022

The changes you make today might be the benefits you need long-term. Today, many people find themselves inundated by a constant stream of financial news from television, radio, and the Internet.

Monday, August 1, 2022

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you...

Monday, August 1, 2022

With approximately 94% of American workers covered by Social Security and 65 million people currently receiving benefits, keeping Social Security healthy is a major concern.1 Social Security isn't in danger of going broke

Monday, August 1, 2022

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...

Monday, August 1, 2022

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion

Monday, June 27, 2022

The sandwich generation is a term commonly used to describe those between the ages of 40 and 59 who are responsible for raising their family and are also often helping their aging parents manage their ongoing needs.

Monday, June 27, 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...

Monday, June 27, 2022

A regular program of disciplined financial practices can help you in the long-run. Many people realize that the best way to stay in shape is to develop an appropriate fitness regimen and then stick with it.

Monday, June 27, 2022

When it comes to investing, having fewer investments might help streamline your portfolio to manage stress better. Here are some benefits of a simple portfolio and some ways to help you create one.

Tuesday, June 21, 2022

Your long-term retirement strategies must account for inflation – or else. On Friday, June 10th, the U.S. Bureau of Labor Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers increased 1.0% in May after...

Wednesday, May 25, 2022

Although many things have changed in the financial world over the past 20 years, some nuggets of financial advice are timeless. Here are a few tips that have remained constant for several generations.

Wednesday, May 25, 2022

Your retirement planning needs to incorporate more than just investments.Your open heart and your relatives can combine to threaten your retirement savings – savings you soon may need. Learn the true cost to your future

Wednesday, May 25, 2022

In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981.1 It's not surprising that a Gallup poll at the end of...

Tuesday, April 26, 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 a school year was $9,970 for in-state students and $25,620 for out-of-state students.

Tuesday, April 26, 2022

You may be retired and considering investing some of your retirement nest egg. Depending on your situation, it is crucial that investing in the stock market, bond market, or other investments does not jeopardize your retirement savings

Tuesday, April 26, 2022

With tax season coming to an end, it’s the ideal time to use this year's tax return to help update your financial plan. If you’re in the group of one in four Americans who do not already have a financial plan, it may be...

Tuesday, April 26, 2022

Investing is stressful. It takes sound mental decisions to weather the ups and downs that come with the markets and investing in general. Whether you are managing your financial portfolio or making investments on the side, staying...

Tuesday, April 5, 2022

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2021.

Monday, March 28, 2022

Making sure your investments help you work towards your true life goals. Too often during uncertain times, we inadvertently compare ourselves to the people around us – and that may lead us to make financial mistakes.

Monday, March 28, 2022

A few pointers to help avoid a double-drubbing this time Stoicism amid market turmoil comes hard when a tsunami of dire investment headlines and plunging prices hits you, as we’ve seen for the first 2+ months of 2022.

Monday, March 28, 2022

Myth: Social Security will provide most of the income you need in retirement. Fact: It's likely that Social Security will provide a smaller portion of retirement income than you expect.

Tuesday, March 1, 2022

Spring cleaning presents a great opportunity to clear out any items you no longer need—and the same goes for your finances. Checking in with your finances during tax season may be particularly beneficial, as it allows you to...

Tuesday, March 1, 2022

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 1, 2022

Tuesday, March 1, 2022

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...

Thursday, January 27, 2022

Monday, February 28th, kicks off America Saves Week this year. The week is dedicated to bringing awareness and encouraging people to look at and make progress on their savings.

Thursday, January 27, 2022

Understanding the potential benefits and drawbacks of each type of IRA can help you make more informed decisions.

Thursday, January 27, 2022

There are several key differences between these two kinds of retirement accounts, and your unique circumstances often will dictate whether you contribute to a 401(k), an IRA, or both.

Thursday, January 27, 2022

It might be tempting to tap into your 401(k) to help pay down debts, purchase a home or take a once-in-a-lifetime vacation. However, doing so may seriously cost you.

Monday, January 3, 2022

'Tax advice' is left to federally-authorized tax practitioners who prepare tax returns, defend clients pursuing relief, or dispute tax payment errors. Financial professionals don't provide tax advice but can provide information on the...

Monday, January 3, 2022

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...

Monday, January 3, 2022

If your retirement years are on the horizon, here are a few new year's resolutions that may help put you on track.

Friday, December 17, 2021

Friday, December 17, 2021

With inflation on the rise, the IRS increased the 2022 contribution limits for some retirement accounts.