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The Mix of Investment Instruments You Choose is Essential to Your Retirement Investing Strategy
The percentage of adult Americans who invest toward retirement is nearing an all-time high at over 63%.1 These days it is far easier to pursue different investment instruments to manage and preserve wealth and over the past few decades...
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Creating Couple Goals for a Fulfilling New Year
Couples may do better by harnessing their energy towards strengthening the relationship and easing stress by creating shared goals for the year ahead.
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Income Management Strategies for Career Growth
You may be a newbie or have some experience, but either way, you may benefit from some supportive financial habits that you put in place to get you on the proper...
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How To Get Affordable Insurance When Insurers Flee
Since natural disasters like wildfires and hurricanes have made it more expensive for insurance companies to operate...
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Three Types of Insurance You Need Even on a Budget
Insurance is designed to provide coverage for some of life's biggest disasters—fire, floods, car crashes, disability, and death. But when you're on a tight budget, paying even a few extra dollars a month for an insurance policy you may...
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Homeownership: What It Could Mean for Your Estate Plan
There is one thing that we will most likely all do one day: regardless of your status in society, position at work, or whether you are tall or short, you may pass down assets to loved ones. When that day arrives, an estate plan is...
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Annuities: The Missing Piece in Your Retirement Puzzle
When it comes to planning for retirement, you may feel as though you've already explored all your options. From traditional and Roth IRAs to 401(k) plans, pensions, and even health savings accounts (HSAs), there are all sorts of...
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Rich vs. Wealthy - Is There Really a Difference?
The terms "rich" and "wealthy" are often used interchangeably. But are they really the same? As the saying goes, "Money talks, but wealth whispers." Here are some of the differences between being rich and being wealthy in terms of...
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How to Prepare Your Finances for an Election Year
Election years create a certain level of uncertainty regarding your finances and investments. Here are a few things to keep in mind to help you preserve your financial interests as an election approaches.
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Bracing for Impact: Are You Ready for a Soft or Hard Landing?
Whether the economy is idling in a soft landing or experiencing the crisis of a hard landing, it is critical that you are prepared for such an event and manage your finances carefully in the grips of economic uncertainty.
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How Will My Children Pay for College? 7 Tips to Help You Plan, Save, and Pay
As a parent, one of the most significant concerns is ensuring that your children have the financial resources they need to pursue higher education. With college tuition costs continuously rising, it's no surprise that many parents...
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Exercise, Diet, and Financial Wellness - 3 Tips to Ensure You're in Good Financial Health for Retire
To maintain good physical health, most people must exercise regularly, eat a balanced diet, and keep stress to a minimum. Achieving financial wellness is no different. It requires careful planning, smart decision-making, and consistent...
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Turning Profits into Wealth: A Guide for High-Earning Business Owners
Growing a business is impressive, but it takes more than just turning a profit to build wealth: It requires a mind shift from short-term gains to long-term prosperity. A business owner must focus on the company's financial confidence...
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The Surprising Benefits of Getting Life Insurance Later in Life
A common piece of standard life insurance advice is to get it as early as possible — and there are good reasons why. If you're young and in relatively good health, purchasing a term life insurance policy is usually much cheaper than it...
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Social Security Isn’t Enough: How Social Security Fits into a Well-Rounded Retirement Plan
If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that your Social Security benefit would not be enough to sustain you in...
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Raising Savers: Teaching Your Kids How to Avoid Learning Financial Responsibility the Hard Way
Who doesn’t remember their first job, receiving your first paycheck, and even applying for and using a credit card for the first time? Access to money provides a sense of freedom and the ability to buy things you want with your...
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Improving Your Financial Literacy Can Improve Your Business
Financial literacy is essential for your personal financial health and even more crucial for the financial health of your small business. Being a small business owner comes with many responsibilities, one of which is maintaining the...
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Wealth, Success, and Mental Health: Finding the Balance Between Wealthy and Healthy
April marks Stress Awareness Month, which provides a great opportunity to shed light on a topic often overlooked in the world of high-net-worth investors, which is mental health. For anyone who is used to managing substantial wealth,...
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Is a 529 to Roth IRA Rollover Right for You? Here's What You Need to Know
If you have a 529 education savings plan, it can now be converted to a Roth IRA. Both plans are funded by after-tax money. Initially, the money put into a 529 plan had to be used toward education expenses. If, for whatever reason, the...
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Inflation and Its Impact on Markets and Portfolios
Understanding the implications of CPI and PPI is crucial for investors In the ever-evolving world of finance, staying abreast of economic indicators is crucial for investors looking to make informed decisions. One such key indicator is...
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Health Is the New Wealth: HNW Individuals, LTC Insurance and Healthcare
A perspective shift occurs in the wealth landscape; many now recognize health as the new wealth. Healthcare, long-term care (LTC) insurance, and other wealth-related financial instruments have become essential considerations for HNW...
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Why Your Credit Score Matters in Retirement
Regardless of the stage of life, your credit score is an essential component of your financial health when you're in retirement. A consistently strong credit score can pave the way for greater confidence, easy loan access, and lower...
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Making the Most of an Interest Rate Hike Pause: Financial Tips and Strategies
In times of market volatility, when inflation is increasing, the Federal Reserve will raise interest rates to help to cool the inflation spike. During this period, people are anxious and keep a tight grip on their wallets. In time, the...
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Full-Time Work and Side Hustles: Benefits and Challenges
An increasing number of full-time workers seek to increase their income through working a side hustle, which is employment in addition to a full-time job. In this article, we'll delve into the benefits of this trend, essential tips for...
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How to Plan for a Healthy Retirement
Planning for retirement often involves focusing on your finances and ensuring that you not only will have enough to sustain you during your retirement but adequate funds to do the things you enjoy doing. While this strategy is a...
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4 Pre-Medicare Strategies for Managing Healthcare Costs
Planning for early retirement is great, but planning for healthcare coverage at the same time is sometimes more difficult. Healthcare costs are high, and finding ways to bridge the gap between the age you retire and the time you are...
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Protect Yourself From Tax Identity Theft as You Approach Retirement
Tax identity theft is a serious type of fraud that affects individuals of all ages and stages of life. To steal a person's tax identity, a scammer uses that person's Social Security number and other personal and financial information...
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Key Financial Wellness Metrics for Near-Retirement Individuals
As one approaches retirement, monitoring your financial situation by understanding your net worth and assessing the assets and resources needed to maintain a comfortable lifestyle throughout retirement is vital. This article explores...
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6 Tips for Reducing Social Security Taxes
Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include: If you have income from working in retirement....
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The History of New Year’s Resolutions: Learning From the Past to Influence Your Financial Behaviors
People have been making New Year’s resolutions for at least 4,000 years, beginning with the Babylonians, who supposedly made promises to the gods. The idea of transforming our lives for the better, from one year to the next, is...
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Social Security Benefits Set to Increase in 2024
Proper financial planning includes forecasting future Social Security benefits In a welcome development for millions of Americans relying on Social Security, the Social Security Administration has recently announced a substantial...
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A 12 Days of Christmas Financial Planning Checklist
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...
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5 Strategies for Managing Financial Stress During the Holidays
The holiday season is a time of joy and headaches, celebration, fatigue, and togetherness mixed with a few knock-down drag-out fights. On top of the emotional rollercoaster ride can come a big wallop of financial stress. From...
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A Beginner's Guide to Tax-Smart Retirement Withdrawal Strategies
For many, retirement is the phase of life to kick back, relax, and enjoy the fruits of years of working and saving. However, financial decisions before and during retirement can significantly influence our quality of life and tax...
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Are We On the Brink of the Elusive Soft Landing?
Signs are encouraging and the possibility seems more tangible than ever In the intricate world of economics, maneuvering the vast U.S. economy without causing disruptions is likened to steering a colossal ship through a tempestuous...
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The Philanthropic Mindset: How to Give Well and Wisely
Having a desire to give and a philanthropic mindset are both important qualities to possess in modern society. With so many economic and social challenges in society, contributions to charities and philanthropy efforts are needed now...
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Long-Term Care For Veterans: What Is and Isn't Covered by TRICARE
More than 16.5 million veterans live in America, as reported by the U.S. Census. Along with the veterans’ need for long-term care, the aging general population has increased demand for long-term care, creating pressure on...
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Year-End Planning for Retirees
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...
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Maximizing Military Retirement Benefits
Retiring from the military is a profound accomplishment. For many, this retirement will provide you with positive things, including the time and geographic stability you need to start a new career or simply enjoy leisure activities...
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What to do With Stock Markets at All-Time Highs
Key principles for a confident journey when investing at market peaks. The Dow Jones Industrial Average (DJIA) is an index of 30 very-large, blue-chip U.S. companies. The most recent all-time-high...
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How Secure Is Social Security?
If you're paying attention to the news, you've probably come across story after story on the health of Social Security. And depending on the actuarial assumptions used and the political slant, Social Security has been described as...
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Financial Planning - Helping You See the Big Picture
Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning...
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Coordination of Long-Term Care with Government Benefits
What does "coordination with government benefits" mean? In the context of long-term nursing home care, a number of governmental (and governmentally regulated) programs and tools exist to help you pay for this care. Medicare, Medicaid,...
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Comparing Life Insurance Policies
Like anyone else, you want a life insurance policy that meets your needs and budget. But how do you find the right policy when there are so many to choose from and many of them seem so similar? The key is knowing how to compare...
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Treating Yourself Can Be Beneficial to Pursuing Your Financial Goals
Have you ever made a purchase that has thrown your monthly budget off-kilter? Or maybe you’ve put financial restrictions on yourself that push you away from spending on things that bring you joy.
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5 Must-Have Items for Your Financial First Aid Kit
Every year, around 3 million Americans are required to evacuate their homes due to a natural disaster.1 What's more, this figure does not include the millions of other individuals who are temporarily displaced as a result of fire...
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Gifting for Education Savings
What is it? A gift is a voluntary transfer of money or property from one person to another person or entity (such as a trust) where the person making the gift receives either nothing or a lesser amount of money or property in return....
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Comparing Life Insurance Policies
Like anyone else, you want a life insurance policy that meets your needs and budget. But how do you find the right policy when there are so many to choose from and many of them seem so similar? The key is knowing how to compare policies...
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Treating Yourself Can Be Beneficial to Pursuing Your Financial Goals
Placing money in your budget for splurges is important, but setting aside too little or too much can set you off the path of your financial goals. Here’s your guide to budgeting for the occasional splurge.
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5 Must-Have Items for Your Financial First Aid Kit
Every year, around 3 million Americans are required to evacuate their homes due to a natural disaster.1 What's more, this figure does not include the millions of other individuals who are temporarily displaced as a result of fire, flood
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Gifting for Education Savings
A gift is a voluntary transfer of money or property from one person to another person or entity (such as a trust) where the person making the gift receives either nothing or a lesser amount of money or property in return...
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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...
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10 Easy Financial Planning Steps for Beginners
If you've never engaged in financial planning and are unsure how to get started, this article is for you. A financial plan starts by evaluating your current financial situation and future expectations and can be created independently...
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Education Tax Credits and Deductions
Tax credit vs. tax deductionA tax credit is more valuable than a tax deduction of the same amount. Why? A tax credit reduces any taxes owed on a dollar-for-dollar basis, whereas a tax deduction simply reduces the total income on which...
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TIPS FOR KEEPING YOUR EMOTIONS IN CHECK, THE ONE QUESTION YOUR FINANCIAL PROFESSIONAL SHOULD ASK & W
TIPS FOR KEEPING YOUR EMOTIONS IN CHECK, THE ONE QUESTION YOUR FINANCIAL PROFESSIONAL SHOULD ASK & WISE WORDS FROM THE ORACLE OF OMAHAMoney is always an emotional subject and when our emotions get involved with our investments we often...
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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...
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4 Financial Planning Tips for Firefighters
Only about 25% of Americans aged 60 and over have access to a defined-benefit plan, also known as a pension.1 Firefighters are in the small group of Americans who have the option of an employer-sponsored pension plan, but this may not...
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6 Retirement Tips for Surviving the Sandwich Generation Squeeze
While each generation comes with its own array of financial challenges, the sandwich generation often feels a tight financial squeeze. Follow these six tips to get your retirement on track while still prioritizing your family.
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Gen Z Should Be Your Retirement Role Models
Generation Z, the youngest working generation, is thought of as being uninterested in the future. However, recent research has shown that this stereotype may not be accurate, as many Gen Z individuals are excelling at saving for retirement
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3 Tips for Preserving Wealth in Your Golden Years
After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. Here are three tips that may help you preserve wealth after retirement...
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Wealth Due to Inheritance
Before you spend that newfound inheritance, or give away any money or assets, or leave your job, you should do a cash flow analysis and determine your net worth as a first step toward planning your financial strategy.
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Annuities: Pros, Cons and a Huge Heap of Details
Annuities often get a bad rap as insurance products – and often rightly so Life insurance buys financial protection against your premature death. Here’s the how-to on another insurance that can protect you from living too...
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Wall Street is Not Sweating the Debt Ceiling – Yet
The press – not Wall Street – is most concerned about the June 1st deadline The debt ceiling refers to a legislative limit imposed by the U.S. government on the amount of debt that can be issued to fund its activities. It...
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How DROPs Programs May Help Retain Retirement-Eligible Employees
Government employees, such as teachers, firefighters, police, and others, often consider working after their eligible retirement age when presented with a DROPs offer. A DROP program is a tax-advantaged retirement plan that provides...
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Aging Parents and Money
Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.When you hit a certain age of your life, you may...
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10 Tips to Work Toward Financial Freedom
Financial freedom is a state of being in control of one's finances, covering expenses easily, and saving for future goals. Financial freedom enables you to choose how you spend or interact with your money and have the choice to decide...
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Education: One of the Best Investments You Can Make
It wasn’t long ago when an individual went to college, got an education, and embarked on one career that usually lasted a lifetime. Many companies provided on-the-job training, and little emphasis was put on the idea of going...
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Medicaid Planning Goals and Strategies
Medicaid planning serves to accomplish a number of goals: (1) qualifying for Medicaid, (2) exchanging "countable" assets for exempt assets, (3) preserving assets (including the family home) for loved ones, and (4) protecting the healthy...
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Financial Planning Tips for Police Officers
For some officers, relying on the police pension may not be enough to retire comfortably and confidently. Here are four financial planning tips for police officers that take into account their special retirement benefits.
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The Financial Impact of Mental Health
Often, financial problems or worries may impact your mental wellbeing, especially if you’re anxious or depressed about your situation. Below, we take a look at some examples and how to get treat them.
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Retirement Planning for Teacher and Public School Workers
The ability to enjoy a secure retirement is an objective that many teachers and their colleagues pursue years before they leave their jobs. Eventually, each must consider life beyond their career and the benefits they may receive...
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Life Insurance and Estate Planning
Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children's education, pay off your mortgage, and simplify the transfer of assets....
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Optimizing Your Social Security Retirement Benefits
Optimizing your Social Security retirement benefits means getting the best return possible on each dollar you've contributed to the system. However, if you make wise decisions regarding when you retire and how much you earn, you can...
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How to Increase Your Financial Literacy
Financial literacy isn't often taught in schools—which means that many people may enter adulthood without having all the tools they need to make informed and effective financial decisions...
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529 Savings Plans vs Prepaid Tuition Plans
Section 529 plans are popular education savings vehicles. To choose the type of 529 plan that's right for you, it's important to understand how 529 savings plans and 529 prepaid tuition plans work and the differences between them...
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