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Financial Planning Perspectives
2023 Recap and 2024 Outlook: Key Events and What May Be in Store
As we get ready to turn the page on 2023 and welcome the new year with all its possibilities, we’d like to take some time to reflect on the year that was—the notable events, trends, and developments that defined our...
Read MoreTechnology Guide for Dementia Patients and Their Caregivers
If you or a loved one has been diagnosed with Alzheimer's disease or any other form of dementia, this can be an extremely challenging time. While promising new treatments are developing and research continues, a cure remains elusive....
Read MoreFinancial Missteps to Avoid During a Divorce
Divorce is one of the most stressful life events. Even the most amicable splits can be complicated and emotionally draining. We likely all know couples who have gone through divorce, and it can be a trying time for everyone involved....
Read MorePreparing for the Tax Cuts and Jobs Act Sunset at the End of 2025
While we haven’t yet said goodbye to 2023, it’s not too early to begin thinking about any tax changes that may be on the horizon. The Tax Cuts and Jobs Act (TCJA) of 2017 was designed to overhaul the federal tax code by...
Read More10 Ideas for a Virtual Holiday Party
Many of us have adapted to a world with remote team members and back-to-back Zoom calls with customers spread across the country, which certainly has its benefits. Nevertheless, one drawback is the difficulty of getting together in...
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The Impact of SECURE 2.0 in 2024 and Beyond
SECURE 2.0: Changes Going Into Effect in 2024 Passed in 2019, the SECURE Act was the most substantial retirement legislation in over a decade. It contained important changes designed to help investors save more and be better prepared...
Read MoreA Year-End Financial Checklist
Time to Think About Year-End Financial Strategies As we roll into fall and the fourth quarter, now is a good time to pause and reflect on proactive ways to set up your finances for 2024. Economically speaking, we are now in a much...
Read MoreAI's Role in Shaping Our Tomorrow: A Look Ahead
While artificial intelligence (AI) is making headlines today, the concept of "thinking machines" can be traced back to ancient philosophers and mathematicians. The phrase artificial intelligence was first used in the mid-20th century,...
Read MoreTop 10 Questions High Net Worth Individuals Ask About Social Security
Social Security, the program you may have spent a lifetime paying into, is designed to offer stability, supplemental income, and other valuable benefits that can play a role in your overall financial strategy after you retire. We've...
Read MoreUnderstanding the September Effect: What It Is and Why It Happens
If you ask the average investor which month is the most volatile for the stock market, they will probably say October. It's a reasonable answer, but it's incorrect. Despite October's reputation for market-defining events like the...
Read MoreDon't Get Hooked: A Guide to Recognizing and Avoiding Phishing
As financial professionals, we understand how vital it is to safeguard your personal and financial information. Unfortunately, in our increasingly digital world, cybersecurity risks, such as phishing attacks, have become a prevalent...
Read MoreMoney Tips for Parents Sending Children Off to College
You’ve done a great job teaching your children vital life lessons and instilling values that will last a lifetime. As summer ends and a new school year begins, one thing that shouldn’t be overlooked, especially for...
Read MoreAttention Parents and Grandparents of College-Bound Students: FAFSA Gets an Overhaul
Changes are coming to the complicated form that students must submit to qualify for college financial aid, known as the Free Application for Federal Student Aid (FAFSA).The Department of Education is calling it the “most...
Read MoreThe 6 Biggest Mistakes DIY Investors Make and How to Avoid Them
IntroductionOver the last several months, I have met with quite a few self-proclaimed do-it-yourself (DIY) investors who, after struggling with the markets in 2022, approached me asking for a second opinion. Interestingly, almost every...
Read MoreHow the SECURE 2.0 Act Changed 529 Plans
Changes to 529 Plans in the SECURE 2.0 ActThe SECURE Act was initially passed by Congress at the end of 2019 and was intended to improve retirement savings opportunities. It was a big deal at the time and the most significant piece of...
Read MoreHealth Savings Accounts: Pros, Cons, and Retirement Considerations
What if your child needs braces? The cost may be as much as $6,000 for metal braces—more modern versions can run as much as $13,000. Your health insurance may cover only a portion of the cost. If you're well past the braces stage...
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Weekly Market Insights: Economy Continues Upward Trend
Stocks posted gains for the week to close out a stellar month, aided by positive economic data and reports that all major banks had passed the Federal Reserve’s annual stress test.The Dow Jones Industrial Average gained 2.02%,...
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Weekly Market Insights: Stocks Take Summer Break, Month Remains Strong
Stocks took a breather last week as investors digested the previous week’s surge and the month-to-date solid gains.The Dow Jones Industrial Average lost 1.67%, while the Standard & Poor’s 500 fell 1.39%. The Nasdaq...
Read MoreTop 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)
Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to...
Read MoreJune 19th, 2023 Weekly Market Insights
Stocks climbed last week as reassuring inflation data boosted investor hopes that the rate-hike cycle was nearing an end amid fresh economic data pointing to continued economic resilience. Markets embraced Goldilocks economic data and...
Read MoreNavigating the Costs of Senior Care: Tips for Preparing for Long-Term Care
Senior care costs can be overwhelming, particularly when long-term care is required due to illness or medical conditions. With the number of seniors in the U.S. expected to rise exponentially by 2030, it's crucial to be prepared for...
Read MoreLiving Trusts: Understanding the Basics and Key Considerations
Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...
Read MoreTrying to Time a Recession?
Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...
Read MoreWhat Factors Have the Greatest Impact on Your Credit Score?
Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...
Read MoreImportant Financial Considerations to Make When Remarrying Later in Life
Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...
Read MoreTop Considerations to Help Adult Children Be Better Prepared As You Age
As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...
Read MoreTips for Raising Financially Literate Children
Every parent wants the best for their children and strives to prepare them to lead a happy, healthy, and successful life. But, despite understanding the importance of financial responsibility, only 28 percent of parents speak to their...
Read MoreTransitioning to Medicare from Private Health Insurance Plans
Transitioning from Private Health Insurance Plans to MedicareAs you approach retirement age, you may be anticipating transitioning from your private insurance to Medicare, which is a federal health insurance program that provides...
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Family Legacy Planning: 6 Tips for Holding a Family Meeting About Money
As a parent, your family bond is important but at times challenging. As you can imagine, having a family meeting to talk specifically about money is no easy feat. At the same time, discussing finances to your family may...
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Castle Financial: When More Money Means More Problems For Your Family
Those attuned to popular early rap may remember the notorious B.I.G. song, “Mo Money, Mo Problems.” In a similar sense, even conventional estate planning may lead to major family rivalries and contention,...
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Summer 2022 Investment Strategy Update
I trust everyone is enjoying the beautiful summer weather, but the winds of change have been wild in the world of money with the financial markets having an extremely rough start for the first half of 2022. On the other hand, I want to...
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When It Comes to Financial Planning Focus More on Goals and Less on Numbers
Creating a long-term financial plan that ties your life aspirations to your financial goals can help you to distinguish wants from needs, establish clear priorities, and avoid misguided investment decisions.
Read More10 Best College Majors for a Lucrative Career
College is often considered the surest path to a lucrative career. After all, according to the U.S. Bureau of Labor Statistics, a worker with a bachelor's degree typically earns two-thirds more than someone with just a high school...
Read MoreCreate a Contract for Family Care
Family caregiver contracts can range from informal to complex professional contracts drawn up by lawyers. Here's what you should know to decide what's best for you. When the caregiver whom Amy Goyer, of Phoenix, hired for her...
Read MoreMarriage and Roth IRA Contributions
Newlyweds can suddenly become ineligible for Roth IRAs once their incomes are combined, although couples may still invest in them indirectly. Q. I'm getting married next month, and when we add up my income and my wife's, we'll earn...
Read MoreWhat to Do After Inheriting an IRA
Heirs must begin taking withdrawals once they inherit an IRA, but how they choose to make those distributions can have a big impact on their account balance over time. Q. My mother just passed away at the age of 60. She has $110,000 in...
Read MoreGive Your 401(k) a Midyear Checkup
Now is a good time to review your 401(k) contributions to make sure you're getting your employer's full match. Q. I've been contributing to my 401(k), and my employer matches a portion of my contributions. Does the $18,000 maximum for...
Read More10 Big Employers That Let You Bring Your Dog to Work
While Donald Trump has yet to appoint a four-legged friend to walk the halls of the White House (making him the first president since William McKinley not to have a dog), his Secretary of the Interior, Ryan Zinke, made history this...
Read More10 Most Expensive Cities to Live In
Costly cities are costly for a reason. Be it climate, geography, culture, economic prosperity or all of the above, the most expensive U.S. cities to live in offer amenities and opportunities for which residents are willing to pay a...
Read More10 Things That Will Soon Disappear Forever (And 7 That Refuse to Die)
Ten years ago, thousands of Blockbuster Video stores occupied buildings like this all over the country, renting DVDs and selling popcorn. Today, all but a handful are closed. The company’s shares once traded for nearly $30. Now...
Read More10 Worst Jobs for the Future
The labor market is steadily improving, with unemployment at its lowest level in a decade, but some fields continue to experience a downward slide. For example, about 1.7 million manufacturing jobs were lost between January 2007 and...
Read MoreWhere Millionaires Live in America
A million dollars ain't what it used to be, but it still earns you entry into an elite group. Only 5.5% of the country, or about 6.8 million households, qualify as bona fide millionaires. That means they have investable assets of $1 million
Read More10 Things You Must Know About Medicare
Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To help yo
Read More14 Secrets to Shopping at Costco
A Costco membership opens doors, quite literally, to a vast selection of bulk-size groceries and household goods selling at discounted prices. But buying potato chips and toilet paper by the case is just the start. The warehouse club also s
Read More10 Cheapest US Cities to Live In
When it comes to cheap living, don't mess with Texas. The Lone Star State is home to the two most-affordable cities in America. But Texas doesn't have a monopoly on low living costs. Five other states make an appearance on our list.
Read More12 Secrets to Shopping at Home Depot
Home Depot is probably the first retailer to come to mind when you’re thinking “ubiquitous big-box hardware store.” The rise of these orange-hued home-improvement centers was a revelation to those who grew up with small, neighborhood hardwa
Read More8 Amazing New Technologies That Will Make America's Military Even Stronger
Cyberthreats are where much of the action is for today’s military, but war planners haven’t forgotten the need to keep up with traditional ways of enhancing America’s defense: weapons and the means to deliver them.
Read More15 Surprising Benefits of Amazon Prime
Many of us first signed up for Amazon Prime years ago to take advantage of free two-day shipping, and stayed with it as the giant online retailer edged the annual fee toward the triple-digit mark. But what are you really getting with your $
Read MoreUnderstanding and Managing Your Credit Score
Your credit score is a critical piece of information that lenders use to determine how creditworthy you might be. Knowing your score - and what it takes to maintain a healthy score - is key to your financial outlook.
Read MoreTo Diversify Wealth, Think Outside the Business
Small business owners face a unique - but critical- investing challenge. Diversifying investment holdings outside of the business. Luckily there are many options to consider.
Read MoreNot All 401(k) Plan Providers Are Created Equal
Is your organization ready to offer a 401(k) plan for the first time - or are you in the market for a new provider? Either way, there are many factors to consider as you weigh the features of various plans.
Read MoreChoosing a Cause With Care
With so many charities competing for your philanthropic dollars, the better armed you are with information, the better able you will be to make a wise charitable choice.
Read MoreSocial Security: Income Replacement Trends Declining for Working Couples
Recent research has found that when it comes to collecting Social Security benefits, the income replacement rate for two-income couples has been declining steadily for a number of years.
Read MoreTime to Review Your Risk Management Strategy
As 2016 draws to a close, take time to reflect on the changes that have occurred in the past 12 months and how they might affect all aspects of your life - including your investment risk tolerance.
Read MoreIRS to Allow Waiver of 60-Day Rollover Rule
Under certain circumstances, the IRS is now allowing individuals who miss the 60-day window to roll over assets from qualified retirement accounts to avoid paying the potential early distribution taxes.
Read MoreFinancial Capability in the United States: How Do You Stack Up?
The FINRA Investor Education Foundation set out to determine how skilled Americans are at managing their financial lives. Details of their research are shared in this article.
Read MoreWhen Employees Leave, but Plan Accounts Stay
When employees leave a company they may leave behind money in a retirement plan account. What are plan sponsors’ options for handling the cash? Here are some answers to commonly asked questions.
Read MoreWhat Can a Dollar Buy? Depends on Where You Live
The cost of living varies significantly across the country making it essential to be a savvy shopper and saver - wherever you call home.
Read MoreMillennials: On Investing and Retirement
The generation of young Americans between the ages of 18 and 34 are now the largest, most influential demographic group in the United States. Here’s a glimpse into their financial world.
Read MoreIdentity Theft and Taxes
Identity theft is rampant in America. And tax-related identity crimes are among the fastest-growing offenses. Learn what the IRS is doing -- and steps you can take -- to help you stay protected.
Read MoreBack to School Bonus
Good news for families: the interest rates on new federal student loans is dropping for the coming academic year. Here are the details and resources for more information.
Read MoreWhat Motivates Your Investment Moves?
Do emotions cloud your judgment when it comes to making decisions about your investments? If so, you - and many others - have much to gain by developing a disciplined, long-term plan and sticking with it.
Read MoreYour Plan's Vesting Schedule: Tailor It to Meet Your Needs
A retirement plan is crucial to a company's ability to attract and retain loyal, talented employees. The plan's vesting schedule is a key factor determining its appeal.
Read MoreWhy More Americans Don't Own Life Insurance
Here is some basic - but important - information about life insurance policies and why so many Americans are under- or uninsured.
Read MoreTips for Avoiding an Early Withdrawal Penalty
One way to potentially avoid paying an early withdrawal penalty on money taken from your IRA before age 59½ is to use what is called "substantially equal periodic payments (SEPPs)."
Read MoreSell Your Employer Match
Employer matching contributions can go far toward attracting and retaining talented, loyal employees. Make sure you are "getting the message out" about this important benefit.
Read MoreIncome Inequality and Its Impact on Women's Retirement
Gender issues affect more than just a woman's paychecks. Longevity, family caregiving, and the gender wage gap influence women's long-term financial well-being and retirement security.
Read MoreConsider the "Autopilot" Option for Your Plan
Auto-enrollment has helped retirement plan sponsors improve their plan participation rates and enhanced many other key plan metrics.
Read MoreCollege Planning - It's About More Than Money
There is more to college planning than saving and investing. There is financial aid to consider as well as the search to find the "just right" institution for your child.
Read MoreThe DOL Revisits Conflict of Interest Rules
New regulations - so-called "conflict of interest" rules - impacting retirement savers and the financial professionals who serve the retirement industry were introduced by the U.S. Department of Labor (DOL) in April 2016.
Read MoreOwn a Retirement Account? Keep Your Beneficiary Designations Up to Date
When was the last time you checked the beneficiary designations on your retirement plans? It's an important - but often overlooked or forgotten - aspect of wealth transfer.
Read MoreThe Saver's Credit: Don't Leave This Tax Break on the Table
The saver's credit allows certain low- to middle-income individuals to claim a tax credit for making contributions to an IRA or a workplace retirement account.
Read MoreAvoid These Financial Traps - They May Be Hazardous to Your Wealth
Managing finances responsibly takes a lot of time and experience. Learn from your mistakes and try to avoid the traps described here.
Read MoreRetirement Confidence Leveled Off in 2016
This year, Employee Benefit Research Institute's 26th annual Retirement Confidence Survey found that worker confidence remained stable but did not improve, due in part to lackluster market performance.
Read MoreAnalyzing a Company's Stock
Stock selection is part art, part science. There are many factors that must be considered when evaluating a company including its finances, the industry it operates in, and various valuation metrics.
Read MoreHealth Savings Accounts: Get to Know These Versatile Savings Tools
Health savings accounts are a popular resource commonly used by individuals covered by a high-deductible health plan. Whether you have access to an HSA through your employer or you opt to enroll in one on your own, there is much to learn
Read MoreWhat to Know About Annuities
Many participants in employer-sponsored retirement savings plans have the option to convert their plan assets into a guaranteed annuity when they retire, assuring a steady income flow. Whether you'll want to exercise this option depends o
Read MoreWhen Protection Matters: Consider a QTIP Trust
With a special estate planning instrument called a QTIP (Qualified Terminable Interest Property) trust, you can give your spouse an income stream for life and choose who will receive the trust property at your spouse's death.
Read MoreThe Lowdown on Robo-Advisors
While the trend toward digital investing and advice appears unstoppable, investors continue to have mixed feelings about the robo-investing movement.
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