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Estate Planning Checklist for When a Spouse or Parent Passes

Jan 15, 2021

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

2021 Opens With a Bang

Jan 11, 2021

The first week of 2021 has already had many ups and downs. Just because it’s a new year doesn’t mean that the 2020 issues go away, and so far, 2021 has been no exception to this rule.

The markets opened on January 4 and traded lower out of the gate, with the S&P 500 dropping 1.5%. The last time the market opened lower was in 2016, when the S&P 500, the Dow Jones, and the Nasdaq Composite all dropped on the first trading day of the new year.^1,2 (more…)

Tags: Certified Financial Planner Charlotte NC, Current Events, financial advisor charlotte nc, Personal Finance, Retirement Planning

Market Update: 2021 Brings a Fresh Start

Jan 8, 2021

A new year offers a welcomed turn of the calendar and a fresh start. However, it’s difficult to put 2020 completely behind us just yet because the COVID-19 pandemic still presents a significant threat. Healthcare workers continue to perform heroically, while the rest of us must continue to make sacrifices until vaccines are widely distributed.

Despite the ongoing threat of COVID-19, it’s important to remember the tremendous progress the US economy has made in its recovery so far: (more…)

5 Stimulus Package Highlights

Jan 6, 2021

After a bit of political posturing on stimulus details in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic continues to impact employers and employees.

Here’s a quick recap of five key highlights providing stimulus to those that need it: (more…)

IRA Contribution Deadlines are Approaching

Jan 4, 2021

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. From current and previous IRA contribution deadlines, to RMD deadlines, keep an eye on the calendar.

April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.

Keep in mind that withdrawals from traditional, SIMPLE, and SEP-IRAs are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. (more…)

Tags: financial advisor charlotte nc, Financial Planning, Investing, Investment Portfolio, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings

Mutual Fund Distributions

Dec 16, 2020

This time of year, you might glance at an account statement and see there has been an adjustment. But there may not be any cause for concern.

Many mutual funds in December pay shareholders capital gains distributions that they have accumulated throughout the year.¹

Typically, mutual fund companies start making estimates about distributions as early as November and most finalize the payment by mid-December. Unfortunately for us, this can cause undesirable tax consequences. (more…)

Tags: Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Investment Planning, Investment Portfolio, Tax Advantages, tax guide, taxes

Group Life for a Growing Business

Dec 14, 2020

As companies grow and add employees, they also add employee benefits. Retirement and medical plans can be provided, but what about group life insurance?

Group life on the menu? Owner-operators know that group life coverage can help attract excellent workers, but some are anxious about the cost and suspect they are just “small fish” to insurers. In reality, coverage may be very affordable and include a variety of policy choices. (more…)

Tags: Employee Benefit Planning, Health Care Savings, Insurance, Long-Term Care Planning, Medicare

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