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Financial wellness studies over the past few years indicate that investors desire financial wellness. The recent pandemic, economic and inflationary conditions, changes in work-life balance, and more responsibility for financial...

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,...

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...

You don't want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income.1. Postpone your income to minimize your current income tax liabilityBy...

With the end of the tax year fast approaching, you may want to find ways to minimize your tax liability. Implementing one or more of the simple strategies discussed below may allow you to hold on to more of your earnings, potentially...

It does not matter how much money you have today; you still must know the details of what you are worth. Understanding your financial situation can help you develop a retirement plan, pay down debt, and live with financial independence.

Legislation that benefitS people with individual retirement accounts (IRAs) and workplace retirement plans is currently moving through Congress. The Securing a Strong Retirement Act of 2022 has passed almost unanimously in the house.

On Oct 21, the IRS announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22.5K up from $20.5K for 2022. The IRS also issued technical guidance regarding all of the cost‑of‑living adjustments.

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 planning is one aspect of tax planning.

Planning is the key to creating your best retirement. You need to plan, save, invest, and plan some more. And despite the naysayers suggesting that Social Security will be bankrupt, make sure you plan for it (or not).

In order to help enhance the return on your investment in mutual funds, it's important for you to know how to determine income or gain from mutual funds, how to calculate your capital gains tax liability and when to buy or sell mutual funds

It’s been said that planning is bringing the future into the present so you can do something about it now, and that’s especially true when it comes to your end-of-year finances.

How does the student loan crisis compare to the subprime mortgage crisis? Will the student loan crisis push us to another recession in 2022? What will Congress do?

As the oldest millennials have reached their forties, this generation is purchasing homes, paying off student loans, and starting their families. These 30-to-40-year-olds represent a powerful economic force.

The combination of investments you choose is as important as the individual investments themselves. In fact, many experts argue that it's even more important since it accounts for most of the ups and downs of a portfolio's return.

Set up trusts to minimize estate taxes, avoid probate, and seamlessly transfer your assets to your heirs.Simply put: A trust is a legal arrangement in which a certain amount of property or assets is held by a person or entity.

A stock represents a share of ownership in a business. When you hold one or more shares of stock in a company, you actually own a piece of that company.

Teaching your kids now may be the best gift that you ever give them. A four- or five-year-old child may seem too young to grasp the concept of money management, but even at an early age, children waiting in a supermarket checkout line...

4 Tips and Resources to Help Seniors During Periods of High Inflation and Market VolatilityIn 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the...

3 Investing Lessons For Beginners You Won't Learn In SchoolTwenty-one U.S. states, including Kentucky, Texas, and Virginia, require public schools to provide high school students with financial literacy courses.1 But even among the...

Each year at the beginning of July, Americans don their red, white, and blue in celebration of the United States’ declaration of independence from England.While we might be able to take a guess at how much money Americans spend...

Summer is finally here, but 2022 is still shaping up to be one of the worst years for investors ever. That’s the bad news, the good news is the year isn’t over yet and here are three reasons the bulls shouldn’t throw...

Many pundits are issuing recession warnings and saying the economy is heading for a hard landing. Amid the cacophony of voices, we think the economy is slowing just like central bankers want but not shrinking. Further, we argue that a...

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

Think about what’s suitable for you – not what others think is suitable for youSpring is a time for fresh starts and, for some, a new home. Before you head out to open houses, your first question should be: Should I own a...

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

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...

Having enough retirement income is concerning for some Americans. Although consistent contributions into their retirement savings plans have occurred, many are concerned if their retirement plan will be successful. A successful...

Many people make resolutions to improve their health in the new year, but making healthy changes goes beyond exercise and diet; you should be staying on top of your medical visits too. Here are seven appointments that you should...

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 with...

As we approach the end of 2021, now might be a good time to take a closer look at a few developments surrounding required minimum distributions (RMDs). What Are RMDs? Once you reach age 72, you are required to take minimum...

Deck your home with a cohesive seasonal theme! Here are four fresh ideas to try. Silver palace with a pop Details: mirrors • glass • silver votives and trays • crystals Colors: silver • white • grays • pop...

The largest cost-of-living-adjustment since 1982 impacts 90% of seniors On October 13, the Social Security Administration announced that Social Security and Supplemental Security Income benefits for tens of millions of Americans will...

A well-structured estate plan can be invaluable to you and your family It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that...

Medicare Open Enrollment begins on October 15, 2021. There are new changes to Medicare for 2022 that may impact your coverage and services in addition to regular Medicare coverage for Americans who are ages 65 and older and younger...

Fall is a season full of opportunity. From embarking on a hay ride to taking in the foliage, there is no shortage of ways to get out in nature and make the most of all that autumn has to offer! Start off your fall bucket list with...

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

For many who are decades away from leaving the workforce, retirement may seem like an abstract concept. But once you've entered your late fifties—like the youngest Baby Boomers, turning 57 in 2021—retirement may begin to...

We all want to know the secret to staying healthy as the weather turns a colder leaf, and these are just some of the ways you can keep both your physical and mental well-being in check throughout the next few months. Make yourself a...

Rising college costs and inflationary pressures are hurting parents and kids Many parents are preparing to send children off to school this fall. While the checklists grow and the kids soak in the last few minutes of summer break,...

Giving away some of your money is a great way to support the people and organizations you love. But there are smart ways to do it, minimizing your taxes and avoiding pitfalls along the way. Once you have provided for your own...

In 2018, around one in every five new home purchasers got at least part of their down payment from a relative—and of the parents who have contributed to this down payment assistance, the average gift is $39,000.1 With the housing...

We’ve all heard the outrageous stories of tumbledown houses selling for record-high prices, dozens of multiple offers within hours of a new listing hitting the MLS, and bonuses and incentives to sweeten the pot from...

The news keeps getting better for Social Security recipients. It's now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2...

The headline Consumer Price Index is important only as a general gauge What will inflation be in the coming years? The real answer is that it varies according to your age and spending patterns. Inflation could wallop someone with kids...

On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1 This...

Members of the "Sandwich Generation"—or adults who have at least one parent over age 65 and at least one child who still requires financial support—often find themselves torn between their dual caregiving responsibilities.1...

Your advisor can help ensure you leave your estate in the best possible way Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior...

If there is a "silver lining" to all the inflation talk, it may be that Social Security benefits are expected to see a larger-than-normal increase in 2022.Preliminary estimates call for a 4.7% cost-of-living increase (COLA) in Social...

Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many...

Americans seem to be traveling more than ever before and are doing so by either flying the friendly skies or sailing the seven seas. While more of us may be flying high or traveling the high seas, most of us would like to avoid the...

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...

Inflation can be a scary word for people who are retired. It’s code for “prices are going up, but my income may stay the same.” The most recent reading on consumer prices put inflation back into the conversation. The...

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...

Everyone needs to make smart financial decisions that steer them toward financial independence. When people thrive financially, they may feel less financial stress, leading them to accomplish short and long-term financial goals. Here...

Nothing beats the smell of firing up the grill in the summertime, but if you don’t take proper care of the equipment, you could end up in a dangerous situation. Follow these tips to ensure that both you—and your...

In today’s economy, offers of an early retirement buyout for a current employee or a pension buyout directed at a former employee are becoming common as companies look for ways to cut costs. Many large employers are offering...

Everyone’s retirement cash flow situation is different. Some people are prepared with enough retirement savings to last their lifetime, others are not. Still, others are unsure about the ‘ups and downs’ that can...

Have you ever wondered how much life insurance is “enough”? One general rule of thumb says that you should buy an amount equal to five to seven times your annual income. Sure, it may be a reasonable guideline, but this...

No allocation can cure the ill effects of stampeding in and out of markets The magic asset allocation number so often touted is a 60/40 split between stocks and bonds. This is supposed to give you the growth potential of equities and...

Over the next twenty years, a wealth transfer will occur that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations. The Baby Boomers (born 1946-1964) are...

Whether you've been investing for years or just made your first stock purchase, you may find that the more you learn, the more you realize you don't know. From capital gains taxes to dividends, how well do you know investing? Test your...

Is it about getting the money back or minimizing the risk of bad outcomes? Although Social Security did not come into existence until 1935, it can trace its roots back to the first national pension program for soldiers that was passed...

Reducing your emotions can give you a better chance for investing success Money is always an emotional subject, but often when our emotions get involved with our investments we will make wrong decisions. And that can be a costly...

Taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions made to their Individual Retirement Account made through May 17, 2021 (the U.S. Department of the Treasury is delaying the April 15...

Taking money out of retirement without a plan is a recipe for trouble You‘ve saved for years. Now that you are retired, did you create an income plan from your savings? The financial industry and media constantly talk about the...

Tips to avoid one of the biggest retirement worries that all of us will face Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. In fact, one...

With so many tax provisions tweaked in 2020—from the CARES Act in March to the Consolidated Appropriation Act in December—some taxpayers may find it challenging to get everything together in time to file their taxes by the...

Understanding the differences between Individual Retirement Accounts Currently, there are two popular Individual Retirement Accounts (IRAs) that you might consider: the traditional IRA and the Roth IRA. While both are long-term savings...

Winter might be six weeks longer, but spring clean your investments now Punxsutawney Phil – arguably the most famous groundhog of all time – saw his shadow in 2021, predicting another six weeks of winter this year. But...

Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so...

Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and a there...

Cleaning up personal finances remains one of the top resolutions every New Year. But we all know what happens to most such self-promises, so here’s a month-by-month to-do list to cultivate better financial health. January:...

Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.⁠1 While the number is up slightly from the...

While the 2020 tax year saw some significant changes to filing deadlines due to the effects of the global pandemic, the 2021 tax season seems to be set to be on track with normal filing deadlines. With the pandemic still in sight, it...

From pandemic-related stimulus payments to job losses and furloughs, for many taxpayers, next spring's tax season may be more complex than usual. With the end of 2020 rapidly approaching, you should take some time to review your tax...

If giving to charity is important to you but you have more time than money, you may wonder whether your donation of manpower will be as valuable as cash. For many charities, the answer is an unequivocal yes. Below are some tips and...

Understanding the income ranges and contribution limits for next year Tax law places limits on the dollar amount of contributions that you can make to Individual Retirement Accounts and by law, the IRS is required to adjust these...

Adjustments for deductions, tax rate schedules and 60 other tax provisions The Internal Revenue Service announced annual inflation adjustments for the 2021 tax year for more than 60 tax provisions, including standard deductions and the...

Social Security is an asset that is taken for granted by many folks. If you are tempted to take Social Security early, when first eligible at age 62, think again: your check will be lower if you don’t wait until what’s...

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...

As you start your career and work toward advancement, you are likely to hear all kinds of advice about the importance of saving and investing for the future. A healthy savings account and the right investments can help you get through...

While there is no one-size fits all, avoiding these mistakes is a good start: A lot of 401(k) investors end up making the same mistakes when choosing their investments. The results are low returns and unbalanced portfolios. Avoiding...

Medicare part C, or better known as Medicare Advantage, is a policy offered through private insurance companies that provides medical and hospital coverage. Those who are already enrolled in Medicare parts A and B, are automatically...

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

When you first considered investing, it probably seemed like a good idea to focus heavily on what worked best for you from the beginning. If stocks from a particular company brought you high yields, why not double up on your original...

Americans, it seems, are spenders. Personal savings rates are low and many people spend beyond their means. If you're among those Americans who can't seem to save, it might be time to create a budget. Getting Started Setting up a...

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements...

Retirement should be a reward for years of hard work, and you don't want to have to pinch every penny. You should be able to do the things you couldn't when you were punching a clock every day. You should be able to look forward to...

It can be tempting to rely on political headlines or pending legislation to time your market entry or exit points. However, letting politics drive your investment decisions can be a costly mistake. Learn more about what helps market...

Should you really consider getting life insurance when you are close to 60? September is National Life Insurance Awareness month. And while most of us likely recognize that life insurance provides us peace of mind and security, there...

The fallout of the COVID-19 pandemic has made the need for a healthy savings account clearer than ever. Even before the pandemic, the U.S. Federal Reserve estimated that nearly 40 percent of Americans didn't have enough set aside to...

Starting with the last week in July and for the first three weeks of August, investors celebrated that the S&P 500 had advanced for four consecutive weeks, culminating with it passing its pre-COVID peak from February 19 on August 17....

Four simple steps to align your spending with exactly what you value The COVID-19 pandemic has changed our lives in unprecedented ways. Many of us have been forced to stay at home more and adjust our spending habits. Some have even...

Why you need to be careful not to start spending your payroll tax money: After negotiations for another stimulus bill stalled for two weeks, President Trump issued an executive order suspending the collection of Social Security payroll...

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...

College savings tips – because the costs of college are not going down. As if the country needed another divisive topic, the debate about reopening schools this fall is splitting communities, educators and families. According to a...

It may be better to give than to receive, but it may be even better to give and see your generosity rewarded. Charitable giving can play a valuable role in your financial and tax strategies. A well-planned gift to charity could provide...

Today, many people find themselves inundated 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 than in...

It often seems as if summer lasts from Easter to Halloween. But we typically see the hottest of the hot days (the “dog days” of summer) in late July and August. And this raises some concern for keeping safe and cool....

Money matters are complex and even scary. How you choose to approach finances mentally is key to mastering them. Financial advisors call this “money mindfulness." And it’s a mentality that can be worked on while we’re spending more time...

After all of those years of saving, investing and planning it's finally time to retire. But what is it that those who successfully planned for the long term do to ensure their funds last for the duration of their retirement? We like to...

Tips for recognizing the telltale signs of an IRS scam and how to report it The Treasury Department and the Internal Revenue Service extended the federal income tax filing deadline from April 15, 2020, to July 15, 2020. That means that...

As hundreds of companies race to develop vaccines and drug therapies that could help end the COVID-19 pandemic, news reports on successful or failed trials affect individual stock prices and can trigger swings in the broader market...

Whether you manage a trust for someone else, are the beneficiary of a trust, or are thinking of creating a trust, you probably have some questions about the "best practices" of trust management. A well-managed trust can help preserve...

Should you worry about inflation, deflation, hyperinflation or stagflation? The coronavirus outbreak, which was first detected in China, has infected millions of people in hundreds of countries and has left global governments,...

Tip: Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so. Retirement can have many meanings. For some, it will be a time to travel and spend time with family members....

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...

Any endeavor worth undertaking, especially one that may affect others, deserves our careful consideration before we begin. When contemplating charitable giving,...

The largest overhaul to retirement plans since 2006 is complicated The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – passed the House of Representatives earlier this year and was...