Election Impact on Investing
Baby boomers, born between 1946 and 1964, are nearing or in retirement and need to consider the impact of political elections on their investments. Here’s how they can navigate election-related uncertainties.
Navigating Political Elections
Gen X, born between 1965 and 1980, has experienced several political elections that have influenced their investing decisions. Here’s how they can navigate the impact of elections on their investments.
The Impact of Political Elections on Investing
Millennials, born between 1981 and 1996, have witnessed several significant elections that have shaped their economic landscape. Here’s how political elections affect investing for this generation.
How to File an Insurance Claim
Insurance is like a security alarm system. You may sleep better knowing you have it, but you hope it will never be activated. If you have insurance, however, it is helpful to know how to…
Whole Life Insurance: What You Should Know
When faced with the wide range of life insurance coverage available, you may wonder what type really fits your needs now and what coverage you should have in place for the future. A good first…
Helping Young Adults Understand Insurance
Insurance should be part of everyone’s plan – and it should evolve too.
Identity Theft: Be Prepared. Be Proactive.
Sure, technology makes our lives easier, creating the opportunity to complete tasks quicker and access information that previous generations didn’t even know was available. But it also opens the door to an unimaginable number of…
ID Theft: How Does It Happen?
In today’s technologically advanced society, identity theft is a common and serious offense. The Identity Theft and Assumption Deterrence Act of 1998 defines identity theft as the following: when someone “knowingly transfers or uses, without…
Identity Theft: Protection and Prevention
Identity theft occurs when someone uses your personal identifying information, such as your name, Social Security number, or credit card number) without your permission to commit fraud or other types of crime.
College Funding: Planning Ahead for Financial Security
In recent years, the cost of higher education has risen well ahead of inflation. The average total cost for a year of college at a four-year school — including tuition and fees, on-campus room and…
Ideas for Reducing the Cost of College
Encourage your student to think about their future financial self.
Laying the Cornerstone of a College Savings Fund
As you gaze lovingly into your infant’s eyes, it’s probably hard to imagine him or her heading off to college. Although that day may seem a long way off, it will arrive sooner than you…
Life Changes and Your Taxes
As you know, lowering your tax bill involves careful planning. In fact, there’s hardly an aspect of your financial situation—savings, education, real estate, investments, retirement funding, or estate planning—that isn’t influenced by taxes. Tax planning…
Taxes and Your Estate: Reconcile Your Domicile
Increased mobility in today’s society has changed the ways in which we live, work, and play. Compared to previous generations, it is now quite common for work and recreational activities to cross state lines, resulting…
Avoid These Common Errors When Filing Taxes
The IRS sees a lot of silly tax errors – here are the ones they warn against.
Home Buying in Your Golden Years
As retirement approaches, many individuals find themselves contemplating a change in their living situation. Whether downsizing, relocating, or finding the perfect retirement haven, the process of homebuying takes on new dimensions for those nearing retirement….
Buying Real Estate Later in Life
For middle-aged individuals, the prospect of homebuying comes with unique considerations and opportunities. Whether you’re looking to downsize, invest, or find your forever home, here’s a comprehensive guide tailored to the needs of the middle-aged…
Navigating the Home Buying Journey
Buying a home is a significant milestone that often marks a major transition into adulthood. For young adults eager to step into the realm of homeownership, the journey can be both exciting and daunting. From…
Deciphering Financial Paths: Borrowing vs. Using Savings Near Retirement
Approaching retirement is a pivotal moment in one’s financial journey. The decisions made during this phase can significantly impact the quality of life in retirement. The delicate balance between borrowing and using savings requires careful…
Financial Crossroads in Middle Age: Navigating Borrowing vs. Using Savings
Middle age brings a unique set of financial challenges and opportunities. As responsibilities mount and retirement looms on the horizon, the decision between borrowing and using savings becomes increasingly critical. Let’s explore the considerations for…
Navigating Financial Crossroads: Borrowing vs. Using Savings
In the tumultuous landscape of early adulthood, financial decisions carry a weight that can influence one’s future for years to come. For young adults, the choice between borrowing and using savings is a pivotal crossroad…
Moving Your 401(k) to a Roth IRA Tax-Free
After-tax funds can be segregated from other funds in the account and transferred directly to a Roth IRA. In fact, it would be a mistake not to. Don’t confuse after-tax contributions to a regular 401(k)…
Harnessing Financial Success in Your 20s: Multiple Accounts
Managing your finances effectively in your 20s sets the foundation for long-term financial success. One strategy that can help young adults take control of their money is utilizing multiple financial accounts. In this article, we…
Consider an Annuity for Your 401(k) Rollover
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. Your financial advisor can help you understand your 401(k)…
Your Business: Family History or Continuing Legacy?
If you’re a business owner, you’ve most likely worked hard to build and manage a company that provides for you and your family. As a result, the income and wealth derived from your business success…
How to Divide an Inheritance Equally
Nothing ignites family arguments like trying to divide an inheritance. If you plan to leave money to more than a few beneficiaries, for the sake of peace and your own emotional legacy, know how to…
Leaving a Legacy
For millions of Americans, “charity begins at home.” Many have decided to make a difference by leaving a legacy to local religious, educational, social, or cultural organizations. In addition to the immense satisfaction that comes…
Maximizing Health Insurance Tax Deductions
Individuals and business owners alike are concerned about the already high, and continually rising, cost of health insurance. But whether you are an employee, an employer, or a self-employed individual, there is a range of…
The Triple Tax Benefits of Health Savings Accounts
When planning for retirement, most Americans think mainly about using tax-advantaged savings vehicles like 401(k) or individual retirement accounts, while failing to consider the triple tax benefits of health savings accounts, or HSAs.
Understanding the Advantages of an HSA
A health savings account (HSA) can be a good alternative to traditional health care, especially for those who are young and healthy. With an HSA, you put money away in a tax-advantaged account but to…
Mutual Fund Fees and Your Market Basket
Many fund companies display their performance figures prominently, but they may take a low-key approach when it comes to mutual fund fees. Generally, when funds are doing well and returns are strong, investors tend to…
Keep Fees and Taxes from Nibbling Your Nest Egg
Many investors are paying more in fees than they realize, some don’t even know they’re paying fees at all. Here are some things you can do to help manage your fees and taxes:
Decoding Investment Fund Fact Sheets
Investment fund fact sheets are essential documents that provide key information about a particular investment fund. Understanding how to interpret and analyze these fact sheets is crucial for making informed investment decisions. In this article,…
Older Americans Growing Targets of Financial Fraud
America’s older generations grew up in a different world where it was customary to be courteous and trusting. Unfortunately, these exemplary standards of conduct could get some individuals into trouble. Con artists bank on the…
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…
Preventing Financial Fraud in Your 20s
As you enter your 20s, you embark on a phase of life filled with exciting opportunities and financial independence. However, this newfound freedom comes with its fair share of risks, particularly when it comes to…
Keep Control of Your Credit
Are you one of the many American consumers currently asking yourself, “How can I better control my use of credit?” Consumer debt in the United States totals billions. Much of this debt belongs to consumers…
Best Practices for Managing Your Credit
When you are applying for a mortgage, car loan, home-equity line, insurance, home rental, or job, be aware that your credit score may impact your application. Few other numbers help or hurt your life so…
Keep on Top of Your Credit Rating
The use of credit in today’s world is pervasive. People charge meals in restaurants and purchases in boutique shops, pay for appliances on the installment plan and obtain loans to buy homes and automobiles, take…
Preparing for Retirement with a Recession Looming
Preparing for retirement can be a daunting task at the best of times, but when a recession is looming, it can be even more challenging. The global pandemic has caused significant economic disruption, and many…
Lessons from the Great Recession of 2007 – 2009
After the Great Recession from 2007 to 2009 hit, far too many Americans found themselves without any savings to get through the hardships of unemployment, falling house prices, dwindling 401(k)s, and increased financial anxieties. Don’t…
Negative Superlatives and Market Drops
Almost any global happening can spur you to sell investment positions or put off investing new dollars. But remember: the headlines are just to sell newspapers (or digital ads). You must keep a level head…
The Fed, Interest Rates, and Investing
As an investor, you undoubtedly ask when, or if, the Federal Reserve Bank (the Fed) raises interest rates, how will that affect consumers and businesses? What about the consequences for certain segments of the economy?
Is it Time to Refinance Your Mortgage?
Over time, mortgage rates fluctuate. Depending on where rates currently stand, now may or may not be a good time for homeowners to consider refinancing their mortgage. How can you determine whether it makes sense…
Understanding Interest Rates and Your Financial Situation
When discussing bank accounts, investments, loans, and mortgages, it is important to understand the concept of interest rates. Interest is the price you pay for the temporary use of someone else’s funds; an interest rate…
Retirement Strategies for Millennials
Retirement seems far away, and it feels like you have decades to prepare. But to enjoy a long, financially secure retirement, you’ll need to start thinking about saving today. And while a common misconception is…
Five Questions to Ask as You Consider Retiring
As you consider retiring, how do you know when you are really ready for it, mentally and financially? For decades, the normal retirement age was 65. This was when you became eligible for Social Security…
How to Plan for Financial Pressures Facing Retirees
Retirement is a time for pursuing your passions, reaping the fruits of your life’s work, and making the most out of life. But there are many financial pressures facing those planning to retire in the…
Retirement strategies for millennials
Retirement seems far away, and it feels like you have decades to prepare. But to enjoy a long, financially secure retirement, you’ll need to start thinking about saving… today.
Understanding what financial planning is – and isn’t
Finances are complicated. Gone are the days of one checking account, one savings account, and a pension for the future. People today are bombarded with advice, decisions, and complex financial products that can make planning…
Five Things You Gain From Financial Guidance
Do-it-yourself is a great approach for some things, yet most people aren’t equipped to be their own doctor, lawyer or mechanic. And when it comes to planning out your financial life today and in the…
Careful planning can help manage competing financial priorities
Does this sound familiar? You keep meaning to increase your retirement plan contribution, but there just seem to be too many other financial priorities that get in the way. Fortunately, with a little planning, you…
So You Want to Retire Early? What You Can Do Now to Prepare
You’ve done your time. You’ve had a long (and hopefully rewarding) career and are ready to ease into retirement. There’s one problem. You’re not quite officially retirement age yet. You have a few years (maybe…
Thinking beyond the 401(k): Distribution planning and investments to consider
Saving and investing for retirement is an absolute must for most Americans, and investing in your future through 401(k)s, IRAs, and other retirement-specific investment vehicles should be a top priority when planning for long-term financial…
Saving vs. Investing: What to keep in mind
It was a problem we all had as kids when we found a dollar: Does it go into the piggy bank or get spent on something to enjoy into the future? The options change as…
Pros and cons of health reimbursement accounts
A health reimbursement arrangement (HRA) is a tax-advantaged benefit that allows both employees and employers to save on the cost of healthcare.
Are flexible spending accounts worth it?
A flexible spending account (FSA) is a voluntary, employer-sponsored program for employees to save a portion of their income, pre-tax, to be used to pay for qualified medical or dependent care expenses incurred during their…
Health Savings Accounts for a Healthier Financial Future
Health insurance is so complicated that many people and businesses would rather stick with what is familiar, even if they don’t like it or fully understand it, than try something new. However, it may be…
10 Strategies That Balance Family and Financial Security
The strategies below can help you make time for enriching activities that balance family and financial security:
Saving for kids’ college? Consider these 2 things.
If you’re like most parents, you’ve spent more than a few sleepless nights worrying about your child’s future. After general happiness and wellness, one major concern often tops our minds: How will we pay for…
Covering your mortgage with insurance
If you, your spouse or life partner would pass away or if you become disabled and are unable to work, your family could potentially lose your home.
Is your family prepared for the unexpected?
It’s not a topic that most of us like to think about, but the truth is we should. That topic is an unexpected loss of income because of death or disability, and a sizable portion…
The biggest financial pressures facing retirees, and how to plan for them
Retirement is a time for pursuing your passions, reaping the fruits of your life’s work, and making the most out of life. But there are many financial pressures facing those planning to retire in the…
Rethinking retirement: Will you have the income to support the retirement you desire?
Chances are, your retirement will look very different than your parents’ or grandparents’ retirements. First of all, many of us are living longer and can potentially expect a retirement that stretches 30 years or more….
Millennials and retirement: How do you stack up?
No matter the age, many people look forward to retirement—a time when they’ll stop working and have the freedom to travel, take up a hobby, and spend time with family and friends. With today’s life…
Estate Planning for Lifetime Partners
There have been some distinct changes in the American cultural and sociological landscape in recent decades. Among them is the increasing number of unmarried couples living together as lifetime partners. This trend has created estate…
Five Tips to Help Couples Talk About Money
Money discussions can affect your relationship, especially if you put those talks off too long. You and your partner need to get on the same page and talk honestly—and regularly —about finances.
New Economic Realities for Today’s Young Couples
For today’s young couples, the road to the future may look far different than it did for their parents. Their incomes may be less certain compared to those of previous generations, and the demands on…
In the middle of everything:
Tips for those caring for both kids and parents
It’s called the “sandwich generation” – mid-career people who are caring for kids still in the house and taking on more care for their aging parents as well.
Help your family have a healthy relationship with money
It’s surprising how little families talk about financial matters. While no one would claim that money is more important than family, financial issues are a top cause of stress and dissent that can strain family…
Getting married? 3 tips for avoiding financial arguments
Choosing to spend the rest of your life with someone is one of life’s most significant milestones. You and your partner have likely spent hours discussing wedding logistics, dreaming of honeymoon destinations and planning your…
When Stock Markets Peak, Check Your Emotions
Emotions often drive investors to make poor decisions and underperform. Successful investing and overall fitness both often come down to discipline (and planning). Why aren’t you reaping the investment returns you read about in the…
Understanding What the Markets Are Telling Us
No financial firm of integrity will tell you to try to predict the markets from day to day, or make a big shift in your investments based on headlines. But that doesn’t mean that you…
Managing Your Credit Rating
Credit ratings are an important measure of a person’s financial wellness. Think of them as a report card for your finances. Lenders review credit ratings to determine the risk associated with the requested loan. The…
Student Debt Is Deeper Than You Think
Every generation bemoans the fact that things today are far more expensive than they were 20 years ago. In 1940, the median home value in the U.S. was just under $3,000. Sixty years later, the…
Debt Management – Getting a “Leg Up” on the Future
Having a strategy in place to manage debt, whether credit cards, a mortgage, student or car loans, may help improve your financial well-being and get you on track to saving for your future.
Understanding What the Markets Are Telling Us
No financial firm of integrity will tell you to try to predict the markets from day to day, or make a big shift in your investments based on headlines. But that doesn’t mean that you…
Retirement Investing – Market Volatility
Market volatility is an inevitable part of investing. These bouts of volatility can be unnerving, but they are a normal feature of long-term investing. Retirement investors should expect to see market declines periodically throughout their…
Investing Made Easy – Dollar Cost Averaging
What if your retirement contributions weren’t automatically deducted and invested in your plan? What if you had to remember to write a check or transfer funds? Would you do it? Every payday?
Private Foundations – Beyond Traditional Charitable Giving
For many affluent individuals, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often substantial tax deduction, coupled with various estate planning benefits, can be the driving force…
Do You Really Have Enough Health Insurance?
Insurance should be part of everyone’s financial planning
Maximizing Health Insurance Tax Deductions
Individuals and business owners alike are concerned about the already high, and continually rising, cost of health insurance. But whether you are an employee, an employer, or a self-employed individual, there are a range of…
Health Insurance: How’s your coverage?
Health care always seems to be a hot topic in political circles. Because resolution of important health care issues may take time, you may be left with the immediate task of evaluating your own health…
What is an HSA and what are the benefits?
Think of a health savings account as a kind of personal savings account or investment account* that employers can offer to employees who are covered by high-deductible health plans, or HDHPs, in order to help…
Preparing for Retirement
“Retirement once seemed a long way off, but it just keeps getting closer every day.”
3 Reasons to Wait Until 70 to Claim Social Security Benefits
In a rush to file for Social Security benefits at age 62? Many people are – but slow down and do the math first.
The Future of Social Security
Social security probably won’t do it. The future of the Social Security system is unclear. But one thing is fairly certain. Your future Social Security retirement benefit will probably be much less than the amount…
About Social Security – Knowledge is Your Retirement Power
Social Security is intended to provide only a minimum level of retirement income to go toward covering the basic necessities: food, shelter, and clothing. It was never intended to be your only source of retirement…
How to Make Cosigning a Student Loan a Breeze
Use the loan application process as a learning experience.
What Rising Interest Rates Mean For You
You’ve probably seen news about the Federal Reserve raising the prime rate, which trickles down to the interest rates charged and paid by banks, credit card companies and others. But what does this really mean…
Understanding Plan Loans
Challenging economic times spur many retirement plan participants to consider borrowing from their retirement plan. Before you do, research the pros and cons, some of which may surprise you.
Consider the “Why” When Gifting Assets
When it comes to gifting assets and passing down an inheritance, too often we fixate on the “how,” but don’t consider the “why”. In other words, although the mechanics of making gifts and transferring assets…
Why You Should Regularly Review Beneficiaries and the Titling of Assets
Imagine this. Your ex-spouse is enjoying a fabulous cruise around the world thanks to your generosity following your untimely death.
What is a 529 Plan, and Why Should I Open One?
You don’t need a Ph.D. to know the costs of education have risen dramatically in recent decades. Many parents worry about how they will pay for their kids’ schooling from they day they are born.
Understanding Fund Fact Sheets
One of the more confusing parts of participating in an employer-sponsored retirement plan is choosing how to allocate your funds. Fund fact sheets provide information on a fund’s objectives, holdings, fees, and past performance and…
Understanding Mutual Funds
One way to cushion investment risk is to have a well-diversified portfolio; but without a sizable sum of money to invest, you may not be able to hold a large enough mix of stocks, bonds,…
Understanding Roth
Your plan provides the option of making either traditional or Roth contributions. Here are some common questions and answers regarding Roth contributions to give you an overview of the feature.
When should you use your emergency fund?
You’ve managed to save the recommended three to six months of finances for an emergency fund. Now, when is it ok to use it?
Emergency Savings: A neglected part of financial wellness
You’ve heard the rule of thumb: Have an “emergency savings” set aside for unexpected costs. It’s a simple enough idea, but most Americans put it at the back of their financial priority list.
Do You Need An Emergency Fund? Six Reasons You Do
An emergency fund is like building cardio in your exercise routine. It strengthens your daily financial wellness (like your heart and lungs), increases your long-term financial health (similar to your metabolism) and can lead to…
Beyond Medicare – How to Fund Health Care Costs in Retirement
As retirement draws closer, many of us cling to a false sense of security that Medicare will cover all of our health care costs. Once we hit 65, it’s all taken care of and we…
The Power of Budgeting at Any Life Stage
Budgets get a bad rap. In reality, they give people power over their finances, and when managed well, can put a person in a position to decide if they want to seize an opportunity or…
Understanding and Managing Good Debt vs. Bad Debt
You may have been taught that debt is a bad thing to have in personal or business finance. The truth is a little more nuanced. Sometimes one kind of debt is better than another, and…
Are you over the age of 50? Learn about employee catch-up contributions.
Saving enough money for a comfortable retirement is probably one of your primary financial goals. But, with so many other demands on your money, it’s easy to get off track. If you are age 50…
How much should I contribute to a retirement plan?
Have you ever wondered if you’re saving enough for retirement? Is there a specific percentage or dollar amount you should be contributing? To answer that question, you need to ask a few others:
Why contribute to a retirement plan?
Experts generally agree that most people will need between 70 percent and 85 percent of their current income in retirement. Social Security will only provide a portion of that amount. You’ll need to have other…
Emotions and finances: Tips for managing both when times are tough
It’s OK. You may be feeling overwhelmed, anxious, fearful, or worried about the future. It’s only natural considering the current pandemic and resulting financial crisis. It’s normal to feel scared and uncertain at a time…
Surviving Market Volatility During COVID-19 Virus Uncertainty
During this time, it may be comforting to remember that you are not alone. Everyone is wondering what the future holds for the Coronavirus (COVID-19). Everyone has the same fears and anxiety that you may…
What do you know about mutual funds?
One way to cushion investment risk is to have a well-diversified portfolio; but without a sizable sum of money to invest, you may not be able to hold a large enough mix of stocks, bonds,…
Six Timeless Tips
Whether we’re experiencing a so-called flash crash or a raging bull, the markets can be turbulent. No matter what’s happening in the financial world, these enduring tips can help you achieve investment success.
Social Security Probably Won’t Do It
The future of the Social Security system is unclear. But one thing is fairly certain. Your future Social Security retirement benefit will probably be much less than the amount of income you’ll need. The question…
Help Your Family Have a Healthy Relationship with Money
It’s surprising how little families talk about financial matters. While no one would claim that money is more important than family, financial issues are a top cause of stress and dissent that can strain family…