Working out how to save money while in college is a smart move. Even though getting into debt when studying puts many people off studying altogether, there are things you can do to remain economically healthy and reduce the amount of debt you accrue while studying. Here are some great tips that you can use […]
It can be overwhelming to figure out how to navigate Medicare Insurance plans. Consider asking friends and family who have Medicare if they are happy with their current plans. There are also resources in your local community that can help you learn about your options. However, if you are looking for advice on choosing the […]
Retirement is one of the most anticipated phases of life. For many it marks the end of the daily hustle, replacing assignments, meetings, and deadlines with travel, hobbies, and more time with family. And for others, it’s the simplicity of having the time to have that first cup of coffee in the morning with no […]
If you are one of the many people today searching the internet for information about annuities, you might have noticed there is a lot of conflicting information out there. To clear up some of the confusion, and to help you determine if an annuity is right for you, I want to address some common misconceptions […]
The new stimulus plan may have an impact on your finances. The American Rescue Plan Act of 2021 is a $1.9 trillion relief package is designed to help struggling Americans overcome financial hardship. Here’s an overview of several of its most important components that relate to individuals:
Created by the National Committee on Pay Equity (NCPE) in 1996, Equal Pay Day highlights the gap between men’s and women’s wages. This gap often requires women to work longer than men for the same amount of pay. As a result, women may struggle financially or find themselves reliant on others to meet their financial […]
Due to the pandemic and Coronavirus Aid, Relief, and Economic Security (CARES) Act, the 2021 tax season may look a bit different this year. By becoming familiar with certain deductions and rules, you may be able to potentially avoid costly mistakes. Here’s what you need to know for the unique 2021 tax season:
We’re in the middle of a global pandemic, so why booming housing market? After all, the economy is down, and countless Americans are struggling with their finances. After all, the economy is down, and countless Americans are struggling with their finances. Let’s take a closer look at several of the many reasons the housing market […]
If the coronavirus pandemic has taken a toll on your finances, you may need to rethink your retirement strategy if you’ve lost your job, work part-time, or transitioned to a lower paying job. Here are some tips that may help you prepare for retirement and create a financially secure future in a post-COVID era.
When it comes to retirement, women can experience more challenges saving for retirement than men. Some of these challenges include leaving the workforce to care for children or other family members and lower pay or challenges in finding full-time employment.
When it comes to retirement and retirement income, you probably know that saving for it as early as possible is essential. This way, you can tap into the power of compound interest and build a healthy nest egg for your future.
Tax season is fast approaching! If you’re hiring a Certified Public Accountant (CPA), accountant, or other tax professional to handle your taxes, you still have to do some work. It’s your responsibility to gather certain documents so that your tax pro has everything they need to file your return.
February is Financial Aid Awareness Month. Its purpose is to provide important information to students and their families about financial aid. If you have children or grandchildren who plan to attain higher education after high school, now is the perfect time to increase your knowledge about the college funding process.
This Valentine’s Day, you owe it to yourself to show your loved ones just how much they mean to you. By investing in life insurance, you can protect your loved ones. At its core, life insurance helps protect your family from financial hardship in the event you unexpectedly pass away.
In honor of President’s Day on February 15th, it may be a good idea to discuss with your financial professional how our new president, Joe Biden, may affect your finances, taxes, and retirement. Meeting with your financial professional will enable you to prepare accordingly for the next four years and beyond. Here’s a brief overview […]
According to Wikipedia, “A hobby is considered to be a regular activity that is done for enjoyment, typically during one’s leisure time, not professionally and not for pay. Hobbies can include collecting items and objects, engaging in creative and artistic pursuits, playing sports, or pursuing other amusements.”
Happy New Year! The start of a new year is a great time to make financial moves that benefit your life in 2021 and beyond. Let’s get started. Starting the New Year with these 15 tasks in process or completed can make a financial difference to you and others:
If you do a Google search for financial wellness, you will find many definitions or explanations. Financial wellness doesn’t have just one meaning because it means something different to each person. Financial wellness is a broad term that encompasses these key areas:
The IRS released its breakdown of marginal tax rates for 2021 in December 2020. Consistent with the previous year’s notifications, tax rates adjust almost yearly basing on inflation. Check out these smart tax planning tips.
There is no better time for financial goal setting than at the start of a new year. Financial goals allow you to create a plan, track your progress, and hold yourself accountable.
Before 2020 comes to an end, you may want to consider charitable giving deductions. December 1st is the National Day of Giving. It’s the perfect time to give back to charities and individuals you value. Not only can giving back allow you to feel good, giving back comes with a variety of financial and tax […]
The Social Security Administration has again approved a cost-of-living adjustment (COLA) for the Social Security benefit starting in January 2021. The increase of 1.3 percent is calculated based on the year-over-year rate of inflation and will increase the average American worker’s benefit by about $20 per month.
The COVID-19 pandemic has shifted cybersecurity and identity theft into the spotlight for both businesses and individuals. With many people working from home, the need for internet security is at an all-time high.
With the election over, you may be concerned about post-election volatility as we enter 2021. Regardless of politics, short-term stock market results can vary depending on factors, including gridlock in the House and Senate and a newly elected future President Biden, who will take office in January 2021.
It is officially the fourth quarter, and while many cannot wait until the “unprecedented times” of 2020 are over, there is still a bit of housekeeping you will likely want to do before ringing in the New Year. Check these items off your financial year-end checklist before year-end to help keep you financially on track […]
As COVID-19 continues to shape our lives and our future, many Americans give thanks and give back to others less fortunate during this pandemic. Some have had personal experiences that lead them to ease others’ financial stresses by providing directly or through other institutions. Donors are giving to resolve the inequities in our society that […]
2020 has been unlike any other thanks to the COVID-19 pandemic, our strange stock market, and social unrest leading up to the Nov. 3rd Presidential Election. This timeline recap is for you to see what we have already been through as we look toward a brighter future as we assess what we have learned from […]
If we could look in a crystal ball, we would have a clear picture of how we should financially prepare for 2021. We can only guess what lies ahead for us next year basing on our experiences this year. 2020 has been tough on many- business closings, lay-offs, disruptions to learning, health and social concerns, […]
The holiday season is the time of year when personal expenses are likely to increase. Whether it may be travel expenses, events, or retail spending. Start preping your holiday savings strategies now. The 2020 holiday shopping season spend is expected to be substantial, but likely less than 2019’s Brick-and-mortar retail and e-commerce spending of $1.007 […]
Socializing is critical for mental health, and people who associate with others live longer. Research also concludes that isolation can often lead to loneliness, depression, and other health problems. Especially now, during COVID-19, our desire to connect with others is heightened. Before the fall season changes to winter and cold weather arrives, get out and […]
November third is fast approaching, and you may be wondering how the 2020 Presidential election might impact your portfolio. Here is what we know from a historical perspective:
October is the financial planning month and a great time to meet with your financial professional to ask questions, review policy and portfolio performance, and make decisions that keep you on track with your goals. Regardless of your age, it may be a suitable time for you to schedule a financial review.
Interest rates can positively or negatively affect the U.S. economy, the stock markets, and your investments. When the Fed changes the Federal Funds Rate (the rate at which banks can borrow money to lend to businesses or you), it creates a ripple effect. In this article we take a look at how lowering the interest […]
When people think of wealth, they might think of examples in film, such as Veruca Salt from the 1971 classic Charlie & the Chocolate Factory. Little Veruca had everything she wanted in life but desired one of Willy Wonka’s geese that laid golden eggs. When Wonka refused to sell the little girl’s father one of […]
Your life insurance needs are unique to your situation and can change over your lifetime. For some people, life insurance is to provide assets to raise a young family in the event of early death. Other people may use life insurance to cover their debt to ensure it is taken care of if they die […]
On June 30, 2020, Regulation Best Interest, or Reg BI for short, officially went into effect. But what is Reg BI, exactly? Where did it come from, and how does it impact you, the investor? Here’s what to know about the new rule under the Securities and Exchange Commission (SEC).
YOu The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act) contains the legislation for Required Minimum Distributions (RMD) for those over age 70 ½ and have already started RMD. Under the CARES Act, no RMD is required for individuals or beneficiaries of inherited retirement accounts in 2020 due to COVID-19. How will this […]
The COVID-19 pandemic has pulled the rug out from under just about everyone on every continent. This pandemic has understandably had a dramatic effect on the everyday lives of most people across the globe. With stay-at-home orders to work remote and children distance-learning this past school year and possibly this fall, many cannot wait for […]
Investment risk is always present, but during COVID-19, the stock market has experienced so much volatility that investors are beginning to wonder where to invest. Investors must consider how investment risk can decline their portfolio’s value due to economic events that impact the entire stock market.
Remote work is the ‘new normal’ since businesses have transitioned to remote operations or have completely closed for the duration of COVID-19. During 2020, the remote work culture has projected forward due to necessity, and companies that made the transition swiftly have also reaped the rewards of continual revenue during this period.
Remote work is the ‘new normal’ since businesses have transitioned to remote operations or have completely closed for the duration of COVID-19. During 2020, the remote work culture has projected forward due to necessity, and companies that made the transition swiftly have also reaped the rewards of continual revenue during this period.
Many people have causes they are passionate about, whether it is a non-profit institution, animal or human rights efforts, homelessness, cancer research, or another mission that benefits society. Some of these causes represent personal experiences that donors would like to help resolve for future generations, such as giving to a cancer research fund after a loved one passes. Still, others are passionate about conservation and may donate money to save rainforests.
When you leave your employer, you also discontinue contributing to your 401(k) or receiving your employer’s match. You may be going on to another employer or possibly retiring. Either way, you may want to consider a fixed-indexed annuity when rolling over your 401(k) to avoid the following:
When looking to protect your financial future in today’s COVID-19 environment, it’s essential to understand how the economy functions on a historical basis as it relates to the country’s GDP (Gross Domestic Product) and the stock market.
The U.S. unemployment rate is the percentage of unemployed workers in the total labor force and indicates the health of the U.S. economy. COVID-19 has significantly impacted unemployment to record numbers not previously seen since the government began tracking the data in 1939. COVID-19 has surpassed The Great Depression in the amount of unemployed and […]
When the U.S. economy is stagnant, the U.S. Government uses fiscal and monetary tools to stimulate the U.S. economy. However, with our economy facing multiple problems, that may not be an ‘easy fix’ in comparison to past recessions. COVID-19, social unrest, permanent business closings, and an upside-down GDP may prove to be difficult problems to […]
COVID-19 has changed the way that Americans shop and travel, impacting our spending habits indefinitely. With stores, hotels, and restaurants closed or at limited capacity, many choose to stay at home and purchase online or locally, helping to support their local small businesses. The positive impact of working from home, virtual meetings, and happy hours, […]
As areas of the U.S. start to lift COVID-19 restrictions, Americans are starting to see the impact of increasing prices at the supermarket and the start of inflation. Here is the recommended steps toward protecting your financial future. While the CARES Act provided a one-time payment to individuals and for business stimulus, it will not […]
The sequence of returns impacts investors when they are either adding to or withdrawing money from their retirement portfolio, which can create risk depending on the sequence and the market conditions at the time. If an investor is not doing either, then there is no sequence of returns risk.
In today’s volatile market environment, investors seeking safety inside your portfolio must consider how any investment fits into their investment strategy. All investments have their place in retirement planning, but only if suitable and a part of an overall financial strategy using multiple types of investments, insurance products, and accounts. While investing is not without […]
Communicating during times of uncertainty, with others, and your financial professional can be beneficial during any life-altering or world-changing event. For some, survival is their only plan when their financial resources are depleting. Others are more fortunate, and their finances are holding while they continue to work. But for most, dealing with COVID-19 and the […]
Investors want to enjoy a good night’s sleep each night because they’ve done their work, know what to expect, and that nothing comes as a surprise to them. However, in times of uncertainty, most of us let our emotions get the best of us, especially about our investments. Part of the luxury of a good […]
The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act) became law on March 27th, 2020. It contains significant legislation for Required Minimum Distributions (RMD) for those over age 70 ½ who have already started RMD. Under previous IRS distribution laws, a minimum distribution from a pre-tax retirement savings account, such as a 401(k), […]
When investors think of ‘safe investments,’ they tend to think of bonds or CDs, which calculate from a pre-determined timeline and interest rates. During a low-interest-rate environment, both provide safety, but not necessarily, the returns investors are seeking. Bonds and CDs have differing benefits and risks despite being viewed by investors as ‘safe.’
COVID-19 has changed the way we interact with others and our ability to work. Currently, one in four worldwide confirmed COVID-19 cases is occurring in the U.S. The halting of economic activity is expected to damage our economy more than any other previous occurrence. While remote work is happening at some companies, many Americans are […]
When you think about tax-free income in retirement, the traditional vehicles likely come to mind. Such as your 401(k) or 403(b), traditional and Roth IRAs, and your personal savings account. What you may not consider, however, is that life insurance can also function as a form of retirement income – with tax advantages.
Safeguarding your financial future is important. Safeguarding your financial future is important. No one likes to think about the impact of their death on their loved ones. But the reality is, not having certain elements in place can turn a tragic situation into a financial crisis. Having these safeguards in place can help provide your […]
Not everyone experiences a life-changing event in their lifetime, one that impacts them for better or worse. As we continue to experience the pandemic, we are witnesses to our own experiences. We don’t know the outcome will be for ourselves, our neighbors, community, and so on. It can be an unnerving, but positive experience if […]
Annuities and market risk are something all investors worry about, but those close to retirement have limited time to recover from the loss. If you’re within ten years of retirement, your investments are at a critical stage to continue to gain value and avoid loss. Without thinking through the dynamics of gains and losses, investors […]
The term HENRY (High Earners Not Rich Yet) refers to individuals who have the potential to become wealthy in the future because of their income. These individuals or families earn between $250,000 and $500,000 per year and are between 25 and 45 years of age (Gen Z, Millennials, and Gen X). Despite their income, after […]
For some people, retirement is all about the numbers, the age you plan to retire, how much money you need, and so forth. We have built our planning processes in financial services based on numbers and algorithms in financial planning software to help us contrive a numeral or group of numbers that are uniquely yours. […]
The past 100 years have seen changes in how people plan for their financial futures and how they live. Borders no longer restrict people from living in one country; their profession often takes them to parts of the world they never anticipated. Today, it’s not uncommon for a family to live part-time in one country. […]
Traveling abroad or living abroad is a new normal for many people, but what happens if the traveler dies while off U.S. soil? Will the life insurance be valid and payout to beneficiaries? Not all life insurance companies view travel outside of the U.S. the same and may not pay out benefits.
Being debt-free is possible for everyone, regardless of income. Learning to manage our debt and spending habits and then focus on saving can be life-changing and positively affect your net worth. Net worth calculates by subtracting your liabilities (debt owed) from your assets (not financed). Both individuals and companies can calculate net worth. It is […]
Once thought of as a single retirement funding source, fixed-indexed annuities are becoming part of a retirement strategy. Not only for pre-retirees and those in retirement. Why? First, the reality of Social Security retirement is at risk. As well as the reduction of benefits is a concern as our population ages. Secondly, fixed-income annuities provide […]
Many people decide to ‘semi-retire’ early and start taking their Social Security Retirement benefit at the earliest age possible. It’s appealing to be able to work part-time or where you have an interest. You may start a small business while making an income and receive Social Security retirement benefits. While early retirement and a part-time […]
Effective January 1, 2020, the SECURE Act, a progressive change to retirement savings plans, is now law. The last legislation to retirement savings happened when Congress allowed for the automatic enrollment of employees. Also the addition of Target Date funds to retirement plans in 2006. While the new law intends to provide additional opportunities for […]
One of the most critical things in retirement is not having enough income to last one’s lifetime. An annuity can help you by protecting retirement income. Retirees need a reliable source of income that protects them from the complex issues of unpredictable market-creating havoc in their retirement portfolio. For this reason, fixed-indexed annuities are becoming […]
The U.S. population continues on growing older, with the baby boomer generation now the largest generation ever. By 2035, one in three heads of households will be someone age 65 and older. The American population will have one in five people age 65 or older, an increase of 30 million people over the next thirty […]
Many people refer to their retirement savings as a “retirement nest egg,” but in theory, it should be made up of many sources of retirement income-many eggs. Even if Social Security and a company retirement plan were their only retirement savings sources, likely they haven’t thought about their withdrawal strategy. It’s not as simple as […]
The thought the division of joint debt discussed when saying “I do,” to any relationship. For couples that combine both assets and liabilities, a split signals the dilemma of dividing both. About half of all marriages in the U.S. end, according to the American Psychological Association, making debt a significant hindrance to financial security for […]
Couples usually don’t retire at the same time when they have an ‘age gap’ between them. An age gap relationship is one where there is eleven or more year’s age difference between them. Age-gap relationships are becoming more common as people are choosing to marry later in life with someone significantly younger. This type of […]
Fixed income is something many Americans don’t understand, according to the 2019 survey, “Fixed Income, Not Fixed Thinking,” by BNY Mellon Investment Management, one of the largest asset managers in the world. The study revealed that the majority of Americans surveyed have a limited understanding of fixed income investments, regardless of age, income, education level, […]
Here we are, already to the end of 2019! The end of a year and the start of a new one is when most people decide to clean up and implement changes in some areas of their lives. Whether it is financial or health-related, starting the New Year off with tasks completed feels good! Here […]
Dreaming and goal setting are interrelated; first, you dream about what you want, then you determine how to obtain it. Our dreams should help guide us to make the right choices at the right time and in the proper manner. But merely dreaming about something is not enough; we must set goals to achieve it. […]
Since 1971, the United States has celebrated Women’s Equality Day on August 26. Although the occasion originally commemorated the passage of the 19th amendment, which gave women the right to vote, today it recognizes and encourages people and organizations to promote the full equality for women in society. We recognize equality spreads the gamut, going […]
In a recent study conducted by the ‘National Retail Federation and Prosper Insights and Analytics’, it was found that the average American family will spend just south of $700 for back-to-school costs in 2019. Is your child soon to be a college student? The same survey reported you should be ready to spend a little […]
In today’s low-interest-rate environment, there are fewer fixed income alternatives for retirees seeking income. With rates on traditional staples such as CDs and money market accounts at or near all-time lows. Fixed-income annuities are an alternative to consider for retirees seeking income and safety. The issuing insurance companies back the claims-paying ability of all annuities. […]
For people that have been diagnosed with a terminal illness or are in poor health, the idea of not having life insurance when needing it can be unsettling. For others who have a chemical dependency or have had one in the past, guaranteed issue life insurance (GI life) ignores the health risk of the dependence […]
What does Summer remind you of? Maybe it’s the feeling of jumping into a cool pool after a day in the summer heat, or maybe it’s the sound of the ice cream truck as you are bolting out the door with whatever change you could get your hands on. From lazy days in air conditioning […]
The official start of Summer – June 21st – is right around the corner. As we cruise into part two or our Sizzlin’ Summer Series, we will make a splash with the best cities to retire in 2019. Here come the Top 4 cities to retire.
This last winter was one for the books. With record snowfall, rain, and cold temperatures, it’s safe to say that most of us are ready for warmer weather. What better way to celebrate the onset of sunshine and warm temps than with a three-part newsletter series to help you enjoy Summer! In this month’s newsletter, […]
Do you consider yourself financially literate? According to a study by S&P Global, 57% of American adults are financially literate, ranking the U.S. 14th in the world. April is considered Financially Literacy month! Increase your financial understanding today! Whether you’re a financial guru or consider yourself a newbie, here’s 3 ways to make a difference […]
With the official start, the Spring is March 20th, the entire country can now start shedding layers after a record-breaking winter. Along with spring comes nice temperatures, fresh crisp smells, and most importantly, spring cleaning. Typically, spring cleaning will consist of throwing out or donating unused items, organizing the house. However, Spring is also a […]
There are 12 Months, 52 weeks, 365 days, 525,949 minutes in a year. From holidays to appointments and birthdays, a lot can happen and even more, can be forgotten. To help you worry about less and focus on more; here are 5 important dates you should add to your financial calendar :
The last two decades mark a distinct time of change. Over the years, we’ve seen how medical advancements have altered the healthcare industry and how shifts in technology impacted our ability to be successful in the workplace. Among these evolving factors, it’s no surprise that the retirement landscape has also changed from what we knew […]
The holidays are in the rearview and the New Year is just over the horizon. As everyone starts the New Year off with positive changes and new annual goals, make sure your finances are one of them! Don’t let your financial dreams fall out of reach by checking out these 4 financial resolutions you should […]