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Five steps to take to mitigate any penalties and consequencesThe tax deadline for individuals in the United States is usually April 15, but in some years it can be moved due to various reasons. This year, the tax deadline was moved to...

Stay informed and adapt your strategies to changing market conditionsOver the past several years, the housing market has been on a relentless upward trajectory, with home prices reaching record levels and demand outpacing supply...

What is working with an advisory team?Mismanagement is often the reason for new business failure. Therefore, a wise business owner surrounds himself or herself with the talented and experienced people it takes to make a business...

Powell’s comments suggest the Fed is likely to raise rates higher and fasterThe Federal Reserve, commonly referred to as the Fed, plays a crucial role in the U.S. economy. In fact, technically speaking, since the late 1970s, the...

As a business owner, you may have heard about the recent failures of Silicon Valley Bank and Signature Bank. These two events highlight the importance of diversifying your cash holdings ...

Bank Failures Raise Market DistressStock and bond market activity was materially shaken last week as Silicon Valley Bank (SVB), the California bank subsidiary of SVB Financial Group (SIVB), fell into FDIC receivership. SVB is...

If you're thinking about working in retirement, you must consider a few things before making your decision. As you get older, the question of when to collect Social Security retirement benefits and how your monthly payment may be...

You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people, you may be torn between paying off debt and...

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...

What is it? If 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 inherited. You'll...

The year 2022 will be remembered by investors as a very difficult year as almost all financial assets struggled. Stocks struggled, bonds struggled, housing struggled and cryptos got hammered as the Fed tried to reel in inflation by...

You're almost done with your federal income tax return, and you're already thinking of ways to spend your refund. Then, the unthinkable happens — instead of a refund, you find that you owe $3,000. Or perhaps you've just received...

If you plan to gift a sizable amount of money to a loved one, gift tax should be on your radar. Gift tax is a federal tax imposed on transfers of cash or property valued above a certain threshold. Gift tax is paid by the gift giver,...

Congress recently enacted landmark retirement legislation known as SECURE 2.0 that will incentivize individuals to save for retirement, while increasing access to workplace plans. The new law includes a number of provisions intended to...

The first day back to work after the holiday season is difficult, there’s no doubt about it.But knowing that this day will come, there are ways you can help yourself, if just a little bit, to get over the physical and mental...

Though the New Year may bring with it a new opportunity to set and achieve financial goals, the thought of making sweeping changes to your budget and lifestyle may be overwhelming. What can you do to improve your odds of success in...

For many investors, this year has been a wild ride—with interest rate increases, a crypto implosion, and whipsawing values in the major market indices. It might be tough to catch one's breath and look ahead to next year. But the...

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...

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise that we might be striving for more balance. Whether it’s about the markets...

Are you unsure about whether you're on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events, such as marriage, divorce,...

Are you leaving your job and considering whether to take a distribution from your 401(k), 403(b), or governmental 457(b) plan? if so, make sure you've considered all your options.In general, you have the following four options when...

Taxes, like death, are inevitable. But why pay more than you have to? The trick to minimizing your federal income tax liability is to understand the rules and make the most of your tax planning opportunities. Personal deduction...

If you ask someone their favorite part of the holiday season, giving or receiving gifts will likely be their response nine times out of ten. Gift-giving is a huge part of the holidays—it’s why there are entire days...

With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The tax benefits associated...

Philanthropy today is different than it was in the past. It was once common for donors to distribute their wealth through smaller grants to numerous organizations. Over time, best practices for charitable giving have evolved, and...

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...

According to statistics from the National Association of Realtors (NAR), real estate is the second most targeted industry for cyber-attacks. The FBI reported almost $150 million in real-estate-related fraud in 2018, with scams aimed at...

With so many contradicting recommendations and myths, it can be difficult to decipher breast cancer facts from fiction. However, there are plenty of agreed-upon risk factors, as well as best practices for testing, that are essential to...

Understanding relative strength (momentum) and counter-trend analysisWise investors alter their approaches as market cycles shift, from bull to bear to something in between. A consistent strategy can be far riskier than one that...

On Aug. 24, 2022, President Biden announced an unprecedented plan to eliminate student loan debt for millions of borrowers.1 This plan forgives up to $20,000 in federal student loan debt for qualified borrowers, including those holding...

When people are leaving their employer, one of the decisions they need to make is what to do with their 401(k). A retirement plan participant typically has four options (and may engage in a combination of these options), each choice...

Understanding your style of investing is an important step – especially todayAre you a Growth investor or a Value investor? Or do you prefer a mix of the two?Understanding your style of investing is an important step in deciding...

If you have a family, you know that long gone are the days of saving up your dollars and cents in a coffee can for a lively weekend at the beach with friends, where the only worries you had were how many suits you needed to pack for a...

Women often face special challenges when planning for retirement.For example, if they are the primary caregivers in their families, their careers may be interrupted to care for children or elderly parents, which means they may spend...

Why is diversification so important? The simple reason is that it helps manage the risk of loss in your portfolio.When investing, particularly for long-term goals, there are two concepts you will likely hear about over and over again...

Baby Boomers — those born between 1946 and 1964 — hold about $20 trillion in wealth.1 Over the next few decades, many Boomers may transfer this wealth to their Gen X, millennial, and Gen Z children, perhaps incurring a...

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. And asset allocation and diversification alone cannot guarantee a profit or eliminate...

The Producer Price Index is higher than the Consumer Price IndexOn July 13th, the U.S. Bureau of Labor Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers (inflation) increased 1.3% in June after rising 1.0%...

What is customizing trusts?A trust is created when you (the grantor, settlor, or donor) transfer property to another person or persons (a trustee or trustees, which could also be you) for the benefit of a third person or persons (the...

The "Sandwich Generation" wakes up every morning with a lot on their plates. They not only have to provide support for themselves and their own children but also help to take care of aging parents. For many, this is both physically and...

Working towards financial independence can often be a lifelong process.But for many, financial freedom may come far sooner—and include some fun along the way. What are the differences between financial independence and financial...

Corporate wellness programs have been key tools in improving productivity, employee retention, and creating a more desirable corporate culture. While many companies have put a strong focus on physical wellness plans, many are just...

Social isolation makes people more susceptible to illness and death.1 While retirement is a time for relaxation and enjoyment from a lifetime of work, it may lead to a lack of purpose if you have depended on work for social activities...

3 Golf Tips to Keep Your Retirement Plan on CourseIn golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying...

Owning a home has long been part of the American dream. But did you ever consider why this is? Sure, for some it’s a good investment: their money goes toward their own equity rather than a landlord, and many people can make a...

Planning for retirement is essential as a step toward financial security. Most investors are familiar with 401(k)s, Traditional IRAs, or Roth IRAs but often may not know about an annuity's benefits in retirement. Knowing if retirement...

When you sign up for a homeowners or condominium owners insurance policy, you take the first step in protecting what may be one of your largest assets. It is important to be knowledgeable about the appropriate amount of coverage needed...

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...

Core bond investors have experienced the worst start to the year ever. However tough this year has been so far though (and it has been tough), the potential for future returns has improved meaningfully, in our view. Starting yields...

Tax identity theft is when someone steals your Social Security Number, files a tax return with your number, and directs a refund to their own bank account. In other cases, this type of identity theft may involve a scam artist calling...

The holidays are prime time for eating delicious food, celebrating with loved ones, and creating long-lasting memories. However, all this cheer can be both physically and mentally draining. That’s why it is essential to focus on...

Preparing for retirement just got a little more financial wiggle room. The Internal Revenue Service (IRS) recently announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs),...

It’s hard to believe we are already approaching the end of another year, and holiday season will soon be here. Since holiday spending doesn’t include just gifting, it’s essential to set your budget now. You may likely...

Today, many people find themselves bombarded by a constant stream of financial news from television, radio, and the Internet. Yet, does all this “information age” data really help you manage your finances any better now...

Not knowing what Congress will do should not stop you from planning One variable that is hard to plan for in retirement is taxes. There are steps you can take, though, despite the uncertain tax landscape. We don’t even know what...

October 2021 marks the 18th Cybersecurity Awareness Month—and cybercrime continues to evolve.1 Though you may not get as many emails promising bodily enhancements or asking you to keep some overseas funds in your checking account...

Between the never-ending candy supply and the various costume options, it’s hard to not get into the Halloween spirit. Whether you’re going for a scary or festive look, these themed decoration ideas will ensure that the...

The rules and consequences of IRA beneficiary arrangements are complex The rules pertaining to Individual Retirement Account (IRA) beneficiaries can be complicated. Here is a quick look at the limitations the Internal Revenue Service...

When was the last time you actually read your homeowner’s policy? Hurricane Ida made landfall near Port Fourchon, Louisiana, on Sunday, August 29 as an extremely dangerous Category 4 hurricane packing winds of 150 mph, the...

From bright yellows to fiery reds, fall foliage is something to be admired. Regardless of where you’re located, there are multiple routes within each region where you can experience the greatest colors. Charge your camera, pack...

As the summer draws to a close and the first chilly winds of autumn blow through, it’s time to think through the way you’ll clean up, fix up, and maintain your home for fall. By keeping up with your home’s maintenance...

America's major stock market indexes, including the Dow Jones Industrial, S&P 500, Nasdaq Composite and Nasdaq 100, all hit record highs on July 7, 2021.1 For some investors, it might be tempting to tap into your 401(k) to help pay...

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

There’s certainly a reason why trips to the beach are one of the most desired summer vacations. From basking in the sun to indulging in delicious boardwalk treats, a beach trip is sure to create unforgettable memories with both...

Your financial professional can help you plan for the rising costs of kids and college If you have a child in kindergarten, you may want to dust off a report from 2015 that explains just how expensive raising kids can be. And...

These simple steps might save you a great deal of money and heartache We all make mistakes, and through them, we learn. But when it comes to finances, it is best not to take the trial-and-error approach. Maybe you’re making some...

At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses while at the same time looking after the needs...

As time goes by, planning for a child’s college education is more challenging than ever before. The savings method you choose will depend on your child’s age, as well as your financial resources. Other considerations, such...

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...

When it comes to shopping for Father’s Day, it can be tricky to avoid the old clichés of a new tie or a seventh (unnecessary) screwdriver for his toolbox. Besides, what if your dad isn’t the businessman or handyman...

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...

If you are like many small business owners, there may never seem to be enough hours in the day. Yet, once a company reaches a certain size, it can become increasingly difficult to rely solely on the efforts of one person alone to keep...

The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also...

Insuring your business against various forms of financial loss is a common small business strategy. While you have much to attend to with the day-to-day needs of your small business, insurance considerations are equally as important....

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...

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...

One year after the COVID-market-bottom, were you fully invested? The end of March 2021 marks the one-year anniversary of the stock market bottom and the end of the shortest bear market on record. Since then the U.S. stock markets have...

Although there is no such thing as a standard disability policy, you're likely to see most of the following terms, conditions, and benefits included and explained in most individual disability contracts. Definition of disability...

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...

If you've been diligently saving for your retirement, you may often find yourself wondering when you can afford to set an official retirement date. The answer to this question can often depend on how much monthly or annual income your...

On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those...

As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top notch care that enriches your patients lives, and in the midst of all that, it can be easy to overlook your finances. To ensure...

Being a doctor comes with a lot of stressors, but planning for taxes should not be one of them. As a doctor, you have been through years of hard work and may be looking for ways to help limit your tax liability and preserve as much of...

As a group, physicians are among the highest-earning professionals out there—and this specialized and life-saving career comes with some specific financial needs. Because of this, physicians should seek out a financial...

Grandparents can often find themselves in a better financial position to save for their grandchildren's education than their own children are. The parents of prospective students may still be contending with competing priorities like...

Budgeting should always be the centerpiece of your financial resolutions Did you make a New Year’s resolution about seven weeks ago? For 2021, many Americans are making the resolution to adopt healthy habits – concerning...

Know what to do if you inherit an IRA from a spouse or someone else As we get older, it is likely that we might inherit an IRA from mom or dad – or we need to counsel mom or dad as they inherit an IRA after one of them dies. The...

The beaten-down sectors from 2020 might be worth another look in 2021 In general terms, the bond market will rally when increases in the Consumer Price Index (inflation) are small and the bond market will fall when increases in the CPI...

We all want more money, and many of us would like to work less, as well. This may seem like a dilemma, yet there is a solution. The best way to increase money without working is to avoid spending it in the first place. Some people call...

Don’t let disorganization become one of your biggest money problems. It’s easy to lose or misplace money. But unlike finding $20 in an old jacket, what if a bank or investment account containing thousands goes untouched for...

Joe Biden will inherit among the most challenging political and economic environments of any US president. With America reeling from the storming of the Capitol by pro-Trump insurrectionists, not to mention a raging pandemic, President...

On Sunday, December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. A $900 billion emergency relief package is included as part of this omnibus spending bill. It is intended to assist individuals and...

In 2020, the government gave taxpayers an automatic six-month extension due to the coronavirus. Individuals who were affected by the damaging wildfires were also given additional time to meet most tax deadlines. However, in 2021, the...

Will your 2021 benefits include telehealth and mental health services? 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...

There are a lot of options to consider, depending on your business model 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...

When an investor sells a stock for more than the purchase price, the investor experiences a capital gain (it is simpler to call it a profit, but let’s stick to some technical terms for a minute). For example, if you bought Amazon...

The holiday shopping season is in full swing. Shopping for holiday gifts is stressful but also a little fun, especially when you think about the joy you will bring to those who receive them. But in all the rush to get everything done...

With businesses around the country reducing their in-office staff to essential personnel only—in some cases, literally overnight—many remote workers found themselves setting up a full home office on short to no notice. But...

Remember back on July 30, the Commerce Department reported that Gross Domestic Product (GDP) decreased at an annual rate of 32.9% in the second quarter of 2020. It was the worst quarterly decline in history. And unfortunately, that...

When Thanksgiving rolls around, the holiday shopping season comes into full swing. While many people prepare their strategy for Black Friday shopping, a lot of them forget about the second shopping holiday that weekend: Small Business...

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,...

Dealing with market volatility during uncertain times can be stressful, and these tips may help. 1. Focus on What You Can Control During times of economic uncertainty, you may be worried about your investments, your business, your job,...

History says that Value should have outpaced Growth during COVID – nope Are you a Growth investor or a Value investor? Or do you prefer a mix of the two? Understanding your style of investing is an important step in deciding...

Reviewing your benefit choices to maximize what your employer offers: Open enrollment for employee benefits kicks off on November 1st. Before you plan your Thanksgiving menu, you should make the time to review your benefit choices....

Your plans for retirement may include travel, home improvements, and more time spent with family. Few people enter retirement with the expectation (or even the thought) that they soon may be unable to live independently. However, this...

Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate planning is similar to tax planning, which can always be done “later.” In...

Small businesses owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their...

Don’t just set it and forget it – tips for looking after your retirement money: Lots of investors never bother to check on their 401(k) regularly. But you should keep a constant eye on your funds’ risk level, whether...

It is only natural that investors would want to find some way to sit out bear markets and get back just in time for the next bull run. The belief that you can foresee the direction of the stock market is a seductive one. Some investors...

Whether your goal is to build or protect your assets, the sooner you start planning your personal finances, the better. Having a financial plan in place can help you address common concerns such as funding your retirement, saving for...

Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life,...

Here are steps to take today to prepare your family for when an emergency strikes. California and the Pacific Northwest have to contend with wildfire season for six months of every year from May through October, with the last two months...

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...

After decades of adding to your retirement accounts, making the mental switch to withdrawal mode can be a challenge. It may be tempting to try to time the market to mitigate the risk of any sudden drops or ongoing turbulence. However,...

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. 1. Do you have a will and powers of attorney...

As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to...

As the threat of the coronavirus swept through the nation in March, many businesses sent their workers home, and now, as fall looms around the corner, many people are continuing to work from home. If you're working home longer than...

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...

Planning for a disaster is no different from other measures you probably take to protect yourself and your family from potential hardship, such as insuring your life, saving for retirement, and getting regular medical check-ups....

Many self-improvement goals focus on stability and personal growth — and financial goals are often no different. From buying your first home to saving for retirement, planning your finances can also help you work toward your...

We might look back and marvel how during the dog-days of August 2020, the stock market reached a new high not seen since pre-COVID. Remember when the S&P 500 closed at a then record high of 3,386 on February 19th? And just three short...

Examining whether you have a healthy relationship with money is important. The COVID-19 pandemic has reshaped our lives in unprecedented ways, forcing us to live closer together with some people, rely on video conferencing to connect...

Recent surveys have indicated that many of us are rethinking our retirement plans because of COVID-19. In fact, one survey from the nonprofit group Life Happens suggests that a whopping 43% of Americans say they plan to postpone and...

One is a significant financial risk whereas the other is a financial guidepost. One of the biggest obstacles on so many financial journeys is the inability to identify risk. That blindness to risk is due to a variety of reasons, but one...

We’ve all been there: scratching our heads wondering what to do with all the retirement savings accounts. Too many choices can be overwhelming, until you step back and realize that there are actually only three questions. Once...

Do you have a will, investing in education or building a Freedom Fund? Amid the heat of mid-summer, do you remember your New Year’s resolutions regarding your personal financial planning? How are you coming with your to-do list?...

All investors should account for inflation to maintain future purchasing power. You hear it all the time: you should make sure your retirement savings at least keep pace with inflation. But what is inflation and how does it really...

While preparing a financial budget is a difficult task, committing to it over the long haul may be even more difficult. Here are a few tips to help you start your budget planning and keep yourself on the savings track: 1) Watch what...

529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be familiar with all of your options. Mutual funds Mutual funds are an option to...

Young adults and those making less money are hardest hit by the pandemic. The United States Census Bureau has been collecting data in as close to real-time as possible in order to provide empirical insights into how Americans are really...

Organization, efficiency and discipline are the three primary steps of financial planning. Organization is knowing where your money comes and goes. An efficient portfolio means a better chance of profits, and discipline keeps you on...

New guidelines for retirement loans and distributions due to COVID-19 On June 19, 2020, the Internal Revenue Service announced new guidelines to help those affected by COVID-19 gain more access to retirement plan distributions and...

Combined with surprising jobs numbers, hopes for a faster recovery heat up On June 16, 2020, the U.S. Commerce Department reported that U.S. retail sales surged a whopping 17.7% in May, as consumers returned to shopping and spending....

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

Whether you dream of a travel-filled retirement or would prefer to relax and enjoy spending more time at home, you're probably wondering what you can do to make your golden years as stress-free as possible. For many who have spent the...

Housing starts down, construction jobs way down and lumber prices are up? As states begin to ease stay-at-home orders, communities across the county are starting to see “For Sale” signs planted in neighbors’ lawns...

However much you make or save now doesn’t promise you a bright financial future. Life is unpredictable. Follow these 10 tips to prevent you and your family from money troubles. 1. See a lawyer and make a will. If you have a will,...

Invest early. Invest often. Invest for growth. These are the basic principles of saving for your child’s college education. The earlier you begin a savings program, the more time you have to benefit from the power of compound...

The makers of the fitness tracking device Fitbit reported that Americans were less active during the spread of coronavirus, as we stayed-at-home and practiced social distancing...

For the past two months, the market declines and market rallies have been historic, as COVID-19 introduced a level of uncertainty that was difficult to...

To help people suffering from business closures, stay-at-home orders, and other effects of the coronavirus, the government has decided to send out stimulus checks. If your adjusted gross income is up to $75,000 for an individual or...

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government has funded a number of initiatives to help small businesses. As you navigate this difficult time, you may want to look into the following...