Tuesday, September 26, 2023
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,...
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Tuesday, September 12, 2023
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...
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Tuesday, September 5, 2023
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...
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Tuesday, August 22, 2023
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...
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Monday, August 7, 2023
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...
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Tuesday, August 1, 2023
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...
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Tuesday, July 25, 2023
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...
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Tuesday, July 11, 2023
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...
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Thursday, July 6, 2023
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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Thursday, June 22, 2023
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...
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Wednesday, June 14, 2023
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...
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Thursday, May 25, 2023
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...
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Thursday, May 11, 2023
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...
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Monday, March 20, 2023
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...
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Monday, March 6, 2023
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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Wednesday, February 15, 2023
According to the Investment Company Institute, near the end of 2022, there was more than $4.7 trillion in cash sitting in U.S. money market funds.1,2While cash can play a role in a diversified portfolio, historically, cash has not kept...
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Wednesday, February 8, 2023
By 2040, the U.S. Census Bureau estimates that 80 million people in the U.S. will be age 65 or older.1 Most of these senior adults will either want to—or need to—"age in place," living in their homes securely, independently...
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Monday, January 23, 2023
With the possibility of a recession looming, it's natural for those nearing or in retirement to have concerns over their long-term strategies. After decades of accumulating a portfolio, the last thing retirees want is for a market...
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Wednesday, January 4, 2023
In October 2022, the Internal Revenue Service (IRS) announced tax changes for 2023 — changes primarily driven, in part, by the current inflationary environment. For affluent couples or individuals interested in transferring...
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Monday, December 12, 2022
In today’s social media-obsessed world full of popular “influencers” targeting teens, pre-teens, and even younger groups, instilling values in your children and grandchildren about what really matters in life is more...
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Monday, December 5, 2022
In late October, the IRS announced that it is increasing contribution limits to retirement savings accounts in 2023. The changes, like many you are seeing, are a direct result of months of high inflation and financial uncertainty, some...
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Monday, November 28, 2022
The year is almost over, and it has certainly been a bumpy one for the financial markets and our economy. As financial professionals, we work with families to design investment strategies that help them pursue their goals for education...
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Monday, November 14, 2022
Key points:Over the past five years, affluent Americans increased their donations to charity by 48%.1Understand various strategies to help you maximize the impact of your charitable donations and your income tax savings.To qualify for...
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Thursday, November 10, 2022
Key points:Mortgage rates are influenced by the Fed’s rate hikes.A sharp rise in mortgage rates reduces the buying power of homebuyers.Although home prices have trended higher, home sales have trended lower.6Whether you’re...
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Tuesday, November 1, 2022
Key points:One of the biggest components of the Inflation Reduction Act is the changes to healthcare costs and coverage. The Inflation Reduction Act requires all pharmaceutical companies to rebate Medicare participants for the...
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Monday, October 24, 2022
If you haven’t heard much about ESG investing, you will. ESG has gone from a niche investment philosophy to a mainstream investment tenant. At the same time, it has gained the attention of corporations, politicians, regulators,...
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Wednesday, October 12, 2022
Over 50% of consumers have fallen victim to a cybercrime, with a third of those attacks taking place in the past year alone. So there are 263 million American consumers. 131.5 million have been hit by cybercrime, with 44 million...
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Monday, October 10, 2022
Most people are used to having a percentage of their paycheck withheld for Social Security. The withholding rate in 2022 stands at 6.2% for individuals and another 6.2% for their employers, for a total of 12.4% per person.1 But...
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Tuesday, September 13, 2022
Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy...
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Thursday, August 25, 2022
The end of summer and the start of the school year always seem to be a catalyst for conversations about college savings and where they fit into larger, long-term financial strategies. In particular, the 529 college savings plan, with...
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Wednesday, August 17, 2022
With inflation at 40-year highs, the Fed is aggressively hiking interest rates; but it's a tricky proposition: raise rates too much and many fear the next recession is right around the corner. Markets have been reflecting that fear,...
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Wednesday, August 10, 2022
Is Now a Good Time for a Roth IRA Conversion?We know that taxes are one of life’s two inevitables. So, the question is not if you will pay taxes on your retirement accounts, but when and how much. That’s where Roth IRAs...
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Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your plan will go into...
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CNBC’s Mad Money host Jim Cramer created the popular FAANG acronym to denote some of the largest, most powerful companies in the world: Facebook, Amazon, Apple, Netflix, and Google. Recently, changes in those companies are...
Read MoreEssential Tax Tips for IRAs Woe to the taxpayer who runs afoul of the numerous and confusing IRA rules. There are forms to file, contributions to make, distributions to take, and penalties to avoid. While corrections are possible,...
Read MoreNew Ways To Give To Charity While Getting The Best Tax Breaks With such a high standard deduction, taxpayers may not get additional itemized deductions for charitable donations. However, with a little clever planning in charitable...
Read MoreTOP 10 RULES TO KNOW ABOUT QUALIFIED CHARITABLE DISTRIBUTIONS If you are an IRA owner interested in donating to charity, a qualified charitable distribution may be an option. These 10 rules outline how a QCD should be done....
Read MoreTHE NEW TAX LAW: 3 AREAS THAT COULD IMPACT FAMILIES At 1097 pages, the new tax act is the most far-reaching and complex tax code passed by Congress since 1986. This article looks at ramifications in the areas of deductions, divorce,...
Read MoreIRS Throws Salt in the SALT Deduction Limit Wound The Tax Cuts and Jobs Act of 2017 introduced a limit for deductions on state and local taxes. Some states hoped to get around that through charitable contributions. But the IRS says no...
Read MorePosted by lplresearch Economic Blog The Federal Reserve (Fed) surprised markets over the weekend by holding its March 17-scheduled meeting a few days early and introducing a wide range of provisions. Those provisions are intended to...
Read More5 Things You Need to Know About the SECURE Act The SECURE Act is by far the biggest retirement-oriented legislation to be enacted in over a decade. Many Americans are left wondering, “What does this mean for me?”...
Read MoreTax Reform and Families: 3 Essential Changes There is both good and bad news for families in the new tax act. About 60% of the tax cuts will go to families, so understanding these changes is essential. –Debra Taylor, CPA/PFS, JD...
Read MoreKey Thoughts on the Tax Cuts and Jobs Act The Tax Cuts and Jobs Act has made major changes to the tax code. It’s important that you understand these changes to best plan your tax strategy going forward. –Debra Taylor,...
Read MoreNo-Regrets Lessons From a Man at Death’s Door What would happen if your earliest childhood dreams actually powered your life and business plans? What if you integrated fun into your weekly, monthly, and life goals? If...
Read MoreEstate Planning Under the New Tax Act: Everyone Needs a Review When was the last time you examined your will or trusts? How about power of attorney or plans to gift assets? Under the new tax act, only eight per 10,000 estates will owe...
Read MoreAs a generation, baby boomers are starting to wonder how we can leave our mark upon the world. What, besides material possessions, can we hand down to the next generation? How do we capture and define the wisdom and values that...
Read MoreCelebrities have enough money to hire the best estate planning lawyers. You would think celebrities, of all people, should have ironclad estate plans that keep their affairs private, leave money and possessions to the people they love...
Read MoreIf you got hit by a bus tomorrow, would your loved ones know how to access your important records? Would they know which accounts youhold and where your money is? What about insurance policies? Realestate ownership papers?...
Read MoreLast Will & Testament: Add a Letter Covering These 14 Wishes Having a will is necessary, but there is a great deal of information the legal document does not include. Here’s what to cover in a supplemental letter that specifies...
Read MoreFINANCIAL PLANNING FOR THE GENERATIONS IN MOST FAMILIES, THE NEEDS AND INTERESTS OF FAMILY MEMBERS OVERLAP. EVEN IF YOUR MONEY IS SEPARATE, PLANNING NEEDS TO HAPPEN FOR ALL. –Elaine Floyd, CFP® It is normal, when working...
Read MoreThe largest wealth transfer in the history of the world is currently in process. It's estimatedthat around $68 trillion will switch hands over the next 25 years. Baby Boomers arecurrently retiring, and many of them will pass of the...
Read MoreShould You Delay Retirement?Retirement is a dream for most Americans. Sure, there are people like Warren Buffett who love towork. Most people do not. If you're one of those people who want to retire, the question arises of whena good...
Read MoreThe possibility of being targeted for a scam or a malicious scheme is well-known, and youmay be aware of some of the more common or outdated scams. Today’s criminals,however, are increasingly devious. They know that many people...
Read MoreSeptember is Life Insurance Awareness Month which gives us a reason to talk about a subject that sometry to avoid. Life insurance can conjure up dark images. Many people are jarred into realizing theimportance of buying life insurance...
Read MoreThere has been a lot of chatter recently by economists and news outlets using the word “recession”.Understanding that it could happen and understanding how to handle it are different matters. If youare one of those nearing...
Read MoreRaising children is something often done by parents in the prime of their life, typically between theages of 20 and 50. By the time retirement comes around, most of the children are off on their own,leaving the parents to finally take...
Read MoreWhen couples get married the finances are typically left to one person. It is rare for bothparties in a marriage to handle the finances together. In some cases, it is the wife that isleaving the husband to handle all financial issues....
Read MoreThis topic is not comfortable for everyone to talk about but planning now can make a world ofdifference later. More than a third of long-term care residents are younger than 65 years ofage. This statistic reminds us that we should...
Read MoreWith all the day-to-day demands on your finances, sometimes it is difficult to have a strong grasp on what your overall financial picture really looks like. While many people may be very in tune with one segment of their financial...
Read MoreYou’ve put your time in and the day you’ve been waiting for has finally come. It’s time to retire!You’re done working 40+ hours a week and ready to enjoy the money you’ve been saving for years.Slow down...
Read MoreYour 2019 IRA Guide When it comes to retirement savings, one of the best options available to thosewho don't have a workplace retirement plan is an IRA. These savings vehiclesallow for future retirees to save up to $6,000 per year in a...
Read MoreEveryone faces the concept of retirement at some point. The closer an individual gets to retirement age, the more concerned he may become about his ability to live comfortably after retirement. It may also make him wonder whether his...
Read MoreAlthough we assume many of our readers know what a 401(k) and an IRA are, let’s cover these quickly. What is a 401(k)? 401(k) retirement, savings, and investment accounts are places to store money in which your contributions are...
Read MoreIndividuals working for years and planning for retirement ultimately lead to be dynamic go-getters who don't want to think about the limitations and possible incapacitations of old age. However, with smart planning in your 50's and...
Read MoreSocial Security is one of the main benefit programs for workers in the United States. At some point, almost everyone will collect something from Social Security. If you are getting close to collecting from Social Security, you might be...
Read MoreOne of the crucial decisions in life if you have minor children is to make arrangements for theguardian or guardians who will finish raising your children if you and your spouse shouldhappen to die in a common accident or weather...
Read MoreThis years tax deadline is behind us. If you received a refund, what’s your plan? Some taxpayers choose to spend the entire check on clothing, shoes, and their appearance. They never look into investing their money for their own...
Read MoreTwo years ago, the current government built their own mark on the United States with what some call the most necessary and important tax reform. The retirement reform that they are planning might be the long shot of 2019 since there...
Read MoreTaxes are on the minds of many as we just passed the 2019 tax deadline. Unfortunately, many retirees every year fail to properly account for taxes when deciding things such as budgets, withdrawal rates, and whether or not they have the...
Read MoreMany people spend years dreaming about the day they will retire. They envision spending time in their vacation home's with their family and friends at their sides. However, for some, this vision doesn't become reality. Instead, they...
Read MoreWith each passing year, more baby boomers are reaching retirement age. There is a lot of discussion surrounding the management of retirement savings and how to turn this money into an income stream. This conversation is becoming...
Read MoreTax season is once again in full swing. While many concerned taxpayers file tax returns to meet the required deadline, criminals work harder to cash in taking advantage of the hectic tax season. Tax fraud remains a growing concern...
Read MoreMillions of people in the U.S. are unable to care for themselves and need long-term care services. These people need assistance in performing one or more self-care activities of daily living such as eating, bathing, dressing, and...
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