The Cost of Procrastination
Mar 24, 2025
Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops.
“Are you aware the registration on your car has expired?”
You’d been meaning to take care of it for some time. For weeks, you had told yourself that you’d go to renew your registration tomorrow, and then, when the morning comes, you repeat it again.
Procrastination is avoiding a task that needs to be done – postponing until tomorrow what could be done, today. Procrastinators can sabotage themselves. They often put obstacles in their own path. They may choose paths that hurt their performance. (more…)
Asset Protection in Estate Planning
Mar 21, 2025
You’re beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others.
To insulate your property from such claims, you’ll have to evaluate each tool in terms of your own situation. You may decide that insurance and a Declaration of Homestead may be sufficient protection for your home because your exposure to a claim is low. For high exposure, you may want to create a business entity or an offshore trust to shield your assets. Remember, no asset protection tool is guaranteed to work, and you may have to adjust your asset protection strategies as your situation or the laws change.
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Financial Help, Financial Planner Charlotte NC, Personal Finance
Basis: Carryover or Stepped-Up Cost Basis?
Mar 17, 2025
Income tax basis can be an important factor in deciding whether to make gifts during your lifetime or transfer property at your death. This is because the income tax basis for the person receiving the property depends on whether the transfer is by gift or at death. This, in turn, affects the amount of taxable gain subject to income tax when the person sells the property.
Tags: Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Financial Help, Financial Planner Charlotte NC
Managing Risk
Mar 14, 2025
Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make decisions alongside your trusted financial advisor in Charlotte NC. Your risk tolerance is balanced against your time horizon, meaning the time between now and your anticipated retirement date. (more…)
Market Update – Navigating Volatility
Mar 12, 2025
Market volatility has arrived in force. The slowdown in the economy and more policy-driven volatility was the consensus expectation coming into 2025. What was not expected, however, was how much the Trump administration would lean into tariffs. During President Trump’s first term, in most instances, investors observed the administration delaying, reducing, or even removing tariffs when the stock market expressed disapproval. Olive branches from the White House sparked stock rebounds. (more…)
Estate Planning Checklist for When a Spouse or Parent Passes
Mar 10, 2025
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If not, estate planning is an important aspect of one’s overall financial picture. It plans for what comes next.
First, gather documents. Ask for help from other family members if you need it. Start by gathering the following. (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, financial advisor charlotte nc, Personal Finance
Social Security Survivor Benefits
Mar 7, 2025
When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives easier.Your family members may be eligible to receive survivor benefits if you worked, paid Social Security taxes, and earned enough work credits. The number of credits you need depends on your age when you die. The younger you are when you die, the fewer credits you’ll need for survivor benefits. However, no one needs more than 40 credits (10 years of work) to be “fully insured” for benefits. And under a special rule, if you’re only “currently insured” at the time of your death (i.e., you have 6 credits in the 13 quarters prior to your death), your children and your spouse who is caring for them can still receive benefits.
Cost of Medical Care
Mar 5, 2025
When uninsured people end up in the hospital, “sticker shock” can follow. Just a quick look at the current prices for medical care procedures can be sobering.
How much does a CT scan cost? Between $250 to $1,500, depending on where it is performed. Need a stent in your heart? The average cost of that delicate procedure is now close to $20,000. How about a knee replacement? That surgery may run anywhere from $15,000 to $35,000.1,2 (more…)
Tags: Health Care Needs, Health Care Savings, Personal Finance
The Need for Power of Attorney
Mar 3, 2025
The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. (more…)
Tags: Estate Planning, financial advisor charlotte nc, retirement
Couples Retiring on the Same Page
Feb 28, 2025
What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar?
The Social Security Administration currently projects an average of 18 years for a retiring man and 21 years for a woman (assuming retirement at age 65). So, sharing the same vision of retirement (or at least respecting the difference in each other’s visions) seems crucial to retirement happiness. (more…)
Tags: financial advisor charlotte nc, Financial Planning, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings
More Insights
Jul 9, 2025
Few terms in personal finance are as important, or used as frequently, as “risk.” Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion.
Jul 7, 2025
As Americans get their grills and beach chairs ready for the July 4th holiday, the stock market and the weather across much of the country have both been on heaters. Stocks and bonds continue to effectively navigate a complex policy landscape shaped by evolving trade dynamics, geopolitical tensions, and fiscal stimulus. The market’s resilience in … Continue reading “Market Update – America Gets Record High Stock Prices for Its Birthday”
Jun 20, 2025
Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver’s license at 16 and voting at 18. But beginning at age 50, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.
Jun 18, 2025
During times like these when geopolitical headlines can be unsettling for investors, we at LPL Research like to remind ourselves of one of our key investing principles. Markets have always faced challenges —ranging from geopolitical conflicts and economic downturns to natural disasters, political upheaval and health crises. These events often trigger short-term volatility and shake … Continue reading “Why Long Term Investing Beats Selling in Volatile Times”
Jun 16, 2025
Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts.
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