Bad Money Habits to Break
May 17, 2024
Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns, year after year. If you sometimes succumb to these financial tendencies, now is as good a time as any to alter your behavior. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, Personal Finance
Tax Planning for Income
May 15, 2024
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.Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc, Retirement Tax Savings, Tax Deductions, Tax Planning, taxes
Basics of Financial Fitness
May 13, 2024
There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you?
While there is no clearly defined threshold for answering affirmatively, much less grading your level of fitness, there are baseline elements associated with financial fitness. To make sure that you’re on the right track, develop a financial plan that lays out clear goals and timelines. Below are steps to consider to get you started: (more…)
Market Update – Navigating May’s Stock Market Outlook
May 10, 2024
After a strong first quarter for stocks, some April showers rained down as the S&P 500 fell about 4% last month. Hopefully those showers will bring some flowers in May, despite the widely cited stock market adage, “Sell in May and go away.” There is some merit to this old adage because the S&P 500’s best six-month returns have, on average, come from November through April, and its worst between May and October (recall bear markets often end in October). Still, historically the index has gained an average of 1.8% from May through October — hardly worth avoiding. (more…)
Tags: Current Events
Retirement and Adult Children
May 8, 2024
Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households are helping their adult children well into their twenties and beyond at the cost of their own retirement savings. (more…)
Tags: Family Wealth, Financial Planner Charlotte NC, Financial Planning, retirement, Retirement Planning
Explaining the Basis of Inherited Real Estate
May 6, 2024
At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and what kind of tax break does it offer? (more…)
Tags: Estate Planning, Family Wealth, Tax Advantages, taxes, Wealth Building
Buying Supplemental Health Insurance: Medigap
May 3, 2024
Medicare won’t cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare (Parts A and B), helping you fill the gaps in your Medicare coverage. You’ll pay the private insurance company a monthly premium in addition to the monthly Part B premium you pay to Medicare.
Tags: Estate Planning, Long-Term Care Planning, Medicare
Estate Planning Intro
May 1, 2024
Incapacity can strike anyone at any time. Estate Planning plans for it
By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. (more…)
Estate Planning – Protecting Your Assets
Apr 29, 2024
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.
Market Update – The Patient Pause
Apr 26, 2024
It seems like we just can’t stop talking about the Federal Reserve (Fed). After an aggressive rate hiking campaign that we think ended last year, markets were expecting the Fed to start cutting interest rates as early as next month. But withan economy that continues to surprise to the upside, along with inflationary pressures that are still too hot, it seems it will still be a few months before we get any of those rate cuts.
Tags: Current Events, market up
More Insights
Jul 26, 2024
Key Takeaways Volatility came back with a vengeance this week as selling pressure in the mega cap space dragged down the broader market. Counterbalancing weakness in these heavyweight names poses a challenge for the rest of the market. Overbought conditions can also be blamed for the recent weakness. The S&P 500 reached a 14.9% premium … Continue reading “Market Update – Assessing the Technical Damange”
Jul 24, 2024
Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but you may also benefit from tax rules that apply to gifts of life insurance.
Jul 22, 2024
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 … Continue reading “Social Security Survivor Benefits”
Jul 19, 2024
Information vs. instinct. When it comes to investment choices, many people believe they have a “knack” for choosing good investments. But what exactly is that “knack” based on? The fact is, the choices we make with our assets can be strongly influenced by factors, many of them emotional, that we may not even be aware … Continue reading “Making Investment Choices”
Jul 17, 2024
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed certain tax benefits for establishing an employer-sponsored retirement plan, including a tax credit for establishing the plan and a deduction for contributions you make. In return, however, you’re required to include certain employees in the plan, … Continue reading “Retirement Plans for Small Businesses”
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