Tag: Financial Planning

Financial Strategies for Athletes

Mar 29, 2021

Financial Planning
Step 1: Find a trusted financial professional

Whether you are a professional athlete, a college amateur, or an aspiring Olympian, you probably know what success feels like. You also know a thing or two about being a good sport when things don’t go your way. Good news: this means you already have some of the basics needed to create a financial strategy.

Don’t think so? Building a strategy is all about having distinct goals, knowing the risks, and determining how much time you have ahead of you. It’s also about surrounding yourself with people who have your best interests in mind and share your goals. (more…)

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Qualified Charitable Distributions

Mar 22, 2021

A choice for I.R.A. owners who want to reduce taxes linked to I.R.A. distributions.

Do you have an I.R.A.? As you enter your 70s, you may start to look at that I.R.A. not only as an asset, but also as a problem. By law, you must take required minimum distributions (R.M.D.s) from a Traditional I.R.A. once you reach age 72; there are very few exceptions to this. The downside of these R.M.D.s? The entire distribution is taxable. (You never have to take R.M.D.s from a Roth I.R.A., provided you are its original owner.) Qualified Charitable Distributions are a way you can take that RMD, but also reap tax-benefits as well. (more…)

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Should You Consider Refinancing Your Mortgage?

Feb 12, 2021

refinancing scrabble
What to consider when refinancing

Are you considering refinancing your mortgage? Perhaps you want to shorten the term of your home loan. Maybe you have an adjustable-rate mortgage now and want to refi into a fixed rate. Or maybe you want to tap into home equity or consolidate debt. Whatever your reason(s), you must weigh two questions. One, how long do you want to stay in your home? Two, how much money are you expected to save? (more…)

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Retirement Planning Questions That Have Nothing to Do With Money

Feb 10, 2021

retirement planning charlotte nc
Think about these factors before you leave work for the last time

Retirement planning is not entirely financial. Your degree of happiness in your “second act” may depend on some factors that don’t come with an obvious price tag. Here are some non-monetary factors to consider as you plan your retirement. (more…)

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Digital Assets Estate Strategy

Jan 20, 2021

3 computer screen digital estate strategy
What should you know? What should your executor know?

When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. We consider these your digital assets. A digital footprint of your life – and you need to consider them within your estate planning. (more…)

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IRA Contribution Deadlines are Approaching

Jan 4, 2021

IRA Contributions
Here’s what you need to know

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…)

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Building a Healthy Financial Foundation

Dec 11, 2020

When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean?  When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. (more…)

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Cash Balance Plans

Dec 4, 2020

Piggy Bank money on skateboard
Should professional practices look into them?

In corporate America, pension plans may be fading away. Only 14% of Fortune 500 companies offered them to full-time employees in 2019. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 (more…)

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Do Main Street Self-Employed Individuals Need a Wall Street Strategy?

Dec 2, 2020

Wall St vs Main St
How will the self-employed strategize for retirement?

As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.

Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1

In the best of times, putting aside money for retirement was a challenge for this group. (more…)

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Speed Bumps and Vaccine Headlines

Nov 18, 2020

row of speedbumps
Focus on your overall approach during times of short-term volatility

As an investor, it can be tempting to get caught up in daily news headlines. From election news to vaccine updates, these headlines can lead to additional volatility in the markets. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you ignore short-term volatility and focus on your long-term vision. (more…)

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More Insights

Apr 21, 2021

Recently, you may have seen reports that a record-low number of homes are available for sale—roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it’s no surprise that many hopeful homebuyers are having issues securing a home. But why exactly is the housing … Continue reading “Forces Driving the Housing Market”

Apr 19, 2021

It can be exhausting trying to keep up with the whims of Wall Street. Lately, the financial markets have been fixated on federal taxes and what may be proposed on Capitol Hill in the weeks and months ahead. Wall Street’s focus on taxes closely follows its attention on the 10-year Treasury yield. And it wasn’t … Continue reading “The Whims of Wall Street”

Apr 16, 2021

President Joe Biden introduced the much-anticipated American Jobs Plan, which outlines an approach to spend roughly $2.2 trillion on the nation’s infrastructure and other projects. As part of the legislative process, the Biden administration also laid out a proposal for paying for the domestic investment. The plan includes raising the corporate tax rate to 28% … Continue reading “Paying for the Infrastructure Bill”

Apr 14, 2021

Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2020, will see a few changes and distinctions. December 31, 2021, is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.

Apr 12, 2021

There’s an old Wall Street maxim that says, “markets climb a wall of worry.” And these days, there’s plenty to worry about with the trend in long-term interest rates and bonds.

Insights + Resources >