Tag: Wealth Building

Marrying Finances as Newlyweds

Jun 27, 2022

Bride and Groom
Ideas to Help Manage Stress.

In a recent study, 35% of married couples described money issues or finances as their primary source of stress. While there are many potential causes of such financial stress, in some cases the root may begin with habits formed early in the marriage.

Fortunately, couples may be able to head off many of the problems money can cause in a marriage. We have put together 10 Tips for Newly Married Couples manage their financial stress. (more…)

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Building a Healthy Financial Foundation

Apr 4, 2022

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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Managing Money as a Couple

Mar 7, 2022

wedding couple in front of money
What are the keys to prepare to grow wealthy together?

When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult. (more…)

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Explaining the Basis of Inherited Real Estate

Jan 19, 2022

Giving house away
What is cost basis? Stepped-up basis? How does the home sale tax exclusion work?

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…)

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When a Windfall Comes Your Way

Dec 1, 2021

Bingo sweepstakes windfall ball lottery
What do you do with big money

Getting rich quick can be liberating, but it can also be frustrating. A sudden wealth windfall can help you address retirement saving or college funding anxieties, and it may also allow you to live and work on your terms. On the other hand, you’ll pay more taxes, attract more attention, and maybe even contend with jealousy or envy. You may also deal with grief or stress, as a lump sum may be linked to a death, a divorce, or a pension payout decision. (more…)

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Cash Alternatives for Charitable Giving

Oct 27, 2021

Charitable Giving
Thinking about donating? Think of these choices.

The year is winding down, and you may be thinking of giving. In fact, you may want to explore the different ways in which you can donate to a charity or non-profit organization, apart from just making a cash gift. Consider some of the alternatives of charitable giving.  (more…)

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Ways to Fund A Special Needs Trust

Jul 7, 2021

Special Needs Trusts
A look at the different choices and strategies

If you have a child with special needs, a special needs trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them. (more…)

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Charitable Lead Trusts

May 26, 2021

Charitable Lead Trusts
How they work, how they may help you reduce taxes.

Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts. (more…)

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Outlook 2021: Bond Prices

Jan 27, 2021

Bond yields clock ticks down
What’s behind the quiet fall in bond yields?

The 10-year Treasury yield has climbed higher since the New Year, which means that some bond prices are dropping. You may have seen the headlines that say, “10-Year Yields Over 1%.”

For some, the first time they experience a change in bond prices is when they open their monthly statement and review their investments. (more…)

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Eight Retirement Mistakes to Avoid

Jan 18, 2021

retirement mistakes spilling coffee over desk of papers
Will you avoid these retirement mistakes?

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.

No Strategy.

Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there – and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. (more…)

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More Insights

Jul 1, 2022

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 29, 2022

It’s natural to think “defense” during a bearish market season. But why not mix in some “offense” with your defense? Here are three moves we can discuss together that may be helpful during the current market downturn.

Jun 27, 2022

In a recent study, 35% of married couples described money issues or finances as their primary source of stress. While there are many potential causes of such financial stress, in some cases the root may begin with habits formed early in the marriage. Fortunately, couples may be able to head off many of the problems … Continue reading “Marrying Finances as Newlyweds”

Jun 24, 2022

You can sum up the appeal of a Roth IRA in three words: federal tax benefit. Potential earnings in a backdoor Roth IRA grow tax free as long as the owner abides by the Internal Revenue Service (I.R.S.) rules, and withdrawals are federally tax free once you reach age 59½ and have held the Roth … Continue reading “Backdoor Roth IRA”

Jun 22, 2022

“Why is the stock market behaving this way if the economy is doing something different?” Many often wonder about the correlation between them. Ever heard of economic indicators?

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