Tag: Financial Planning

Should You Consider Refinancing Your Mortgage?

Feb 12, 2021

 

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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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…)

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Cash Balance Plans

Dec 4, 2020

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

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

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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A Windfall Inheritance Comes Your Way

Nov 16, 2020

Here’s a windfall scenario for you: You pick up what appears to be a lottery ticket. You check the numbers for a laugh and discover a winning combination, offering you millions of dollars in prize money. What are the chances of that? (more…)

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Election 2020: Be Confident. Be Bold. Be Patient.

Oct 28, 2020

It should come as no surprise that the economy is the most crucial issue in the upcoming election.

But here’s something that may surprise you. More than 90% of investors say they plan to change their portfolio in the 12 months following the election.1 (more…)

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FAFSA Applications Open

Oct 21, 2020

Applications for the Free Application for Federal Student Aid (FAFSA) are now open for the academic year 2021-22. Applying for the FAFSA allows you to qualify for grants, scholarships, and other federally-sourced aid, such as work-study or student loans. The applications opened on October 1, 2020, and will be accepted until the deadline, June 30, 2022. (more…)

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Estate Planning Strategies for Year-End

Oct 12, 2020

With one year ending and a new one on the cusp of starting, many people will consider their resolutions—not their estate planning strategy. But the end of the year is a great time to sit down and review your preparations, especially when you’re spending more time with your loved ones; even more important if you have a complicated estate that may need to get managed after you’re gone. (more…)

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Budgeting for Beginners

Oct 9, 2020

Budgeting towards needs and goals. One of the objectives of creating a household budget is that, as time moves on and the various household members advance in their careers, they are likely to make more money. Knowing where that money goes can help direct that money to not only meet your day-to-day needs but also to potentially realize your financial goals. Rent payments may eventually become mortgage payments. Socking away a few bucks into your savings each payday is an effective financial strategy involving various investment tools. (more…)

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More Insights

Jun 24, 2024

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, … Continue reading “Couples Retiring on the Same Page”

Jun 21, 2024

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 … Continue reading “Estate Planning Checklist for When a Spouse or Parent Passes”

Jun 17, 2024

Seventy-three is an important age milestone for those in or near retirement, as it marks the time when required minimum distributions (RMDs) begin to be withdrawn annually from IRAs and employer-sponsored retirement plans (previously, the threshold was 70 ½). The milestone carries with it tax consequences that are not fixed. Rather, there are a few … Continue reading “Optimizing Required Minimum Distributions”

Jun 14, 2024

Bottom Line at the Top Line Markets reacted positively to this week’s Consumer Price Index (CPI) release. Softer inflation is good news for the Federal Reserve (Fed). Despite a good report this morning, the Fed will still likely communicate this afternoon their intentions to keep rates higher for longer in their updated Summary of Economic … Continue reading “Market Update – Reaction to Softer Inflation”

Jun 12, 2024

You’ve probably heard the saying that “cash is king,” and that truth applies whether you own a business or not. Most discussions of business and personal “financial planning” involve tomorrow’s goals, but those goals may not be realized without attention to cash flow, today. Management of available cash flow is a key in any kind … Continue reading “Cash Flow Management”

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