Blog

Low-or-No-Cost Solutions for Retaining Valued Employees

High turnover of employees often presents a serious problem for many small businesses. Limited budgets generally cannot provide the financial incentives needed to recruit and retain high achievers. As a small business owner, how can...

Andrew Luck, the NFL and Early Retirement

Why early retirement eludes most people and how to overcome bad habits Indianapolis Colts quarterback Andrew Luck stunned the world when he announced his retirement from the National Football League at the age of 29. But who...

Forecasting the 2019 Hurricane Season

How well are you prepared financially? What are your risks? June 1st ushered in the 2019 Atlantic Hurricane season and the question on everyone’s mind – especially those living along the east coast – is whether this...

Celebrating Labor Day 2019

Give me work, ‘till my life shall end and life, ‘till my work is done The national holiday we celebrate on Monday, September 2nd is a good time for reflection on why we work and what we derive from it. The answer should be...

S Corporations vs. LLCs: Which Entity Is Right For You?

The LLC is quickly becoming the entity-type of choice among many small and medium-sized businesses. However, some business owners are still more comfortable with the more traditional S corporation, which provides many of the same...

Why Employee Benefit Plans Make Sense

Over time, there has been an increase in the number of employers offering employee benefit packages for their workers. As a business, you might be thinking about implementing a plan or reviewing your existing one. However, before you...

Eleven Smart Moves to Make Your Money Last in Retirement

Financial advisers will tell you that the most telling -- and risky -- years of your retirement are the five before you leave the 9-to-5 world, and the five after you have forsaken a steady paycheck and learn to live on Social Security...

The Preferred Course for Business Continuation

It takes years of hard work to build a successful business. To protect your investment, it is important to consider how you will keep the business running smoothly if something should happen to you or one of your business partners....

Matching Your Needs to a Day Care Program

One of the major concerns working parents face today is finding someone to care for their children while they’re at work. If you’re fortunate enough to have the built-in help of a grandparent or other family member,...

Maintaining Your Bearings with Asset Allocation

For many people, investing typically begins with one stock, bond, or mutual fund. Other selections are added over time, because most people understand it is imprudent to invest everything in a single security or fund, even if it has a...

Life Insurance: How Much Is Enough?

You may already be aware of the importance of having enough life insurance coverage to handle financial matters that could affect your family in the event of your death. However, determining the appropriate amount of coverage for your...

Using a Durable Power of Attorney

While an attorney is a licensed professional who is legally designated to conduct business on your behalf, did you know you have the right to grant this power to anyone you choose? If the power of attorney (POA) you grant is limited,...

Beware of FaceApp for Your Retirement Portfolio

A financial advisor is needed to forecast your retirement picture. FaceApp is a cool photo-morphing application that uses artificial intelligence and neural face transformations to show how you’d look when you’re older or...

Summer Vacations & the Allure of Timeshares

A timeshare is usually too expensive, even if someone gives you one. Vacations during the summer months might have you thinking about timeshares for resorts in places like Florida or Mexico. They seem like a fun idea for a winter...

National Debt & Your Personal Debt Ceiling

The U.S. has not been debt free since 1835 – should you be debt free? As the summer of 2019 heats up, talk about the national debt spiraling out of control will too. But what is the national debt and should investors worry about...

Leadership: Building Stronger Companies

Once you attract the best and the brightest, the challenge becomes keeping them and effectively utilizing their skills to enhance and grow your business. Competitive benefits and compensation are great retention tools, but what about...

Retiring Business Owners - Plan for Succession

If you’re a small business owner, you’ve invested a great deal of time and effort into building your company. With day-to-day demands, it may be difficult to imagine your eventual transition into retirement. Yet, if you...

Small Business Always Face Challenges

But a bull market and low unemployment make it harder to retain employees. A record-setting bull market and 50-year unemployment lows can present unexpected challenges for many small businesses. A tighter skilled labor force often...

Does Summer Have You Dreaming of Where to Retire?

Consider the tangible financial and economic benefits too, not just sunshine. You have no doubt seen dozens of lists of places to retire in, but they seldom focus on financial factors, which are important when you live off your savings...

The Importance of Renters Insurance

At some point in your life, whether you are entering college or recently graduated, between homes, or temporarily living in a new city, you may need to rent a house or an apartment. With the many freedoms that come with renting, as...

Managing Personal Affairs after the Loss of a Loved One

The grief one feels when a spouse, parent, or other loved one dies is almost always overwhelming. In addition to the emotional heartbreak, there is often a great deal of confusion concerning the deceased’s financial affairs and...

Investing Lessons from the Tour de France

The cyclist can win with a few strategic moves and by avoiding crashes To reach your financial goals, you don’t have to outperform every benchmark every year. For long-term investors, avoiding and mitigating losses is a key...

Life Insurance Solutions for Unmarried Couples

Unmarried couples face some unique financial and estate planning issues. While married couples typically use life insurance to provide funds to help replace income upon the death of a spouse, unmarried couples may have an even greater...

Unburden Your Loved Ones with a Financial Inventory

Suppose you are in the middle of your workday and you receive an urgent telephone call from the local hospital. The caller informs you that your elderly, widowed father has been in a serious accident and lies unconscious in the...

Launching a Pastime into a Business

Many people apply their creative talents or skills to a hobby or interest. Quite often, what begins as a simple pastime can blossom into a larger endeavor. The seeds of many large corporations were once planted by people in garages,...

What's Your Management Style?

At times, managing people can feel more like an art than a science. Approaches that work well with certain employees and in certain types of workplaces may prove ineffective in other circumstances. A good manager should be prepared to...

Finding and Keeping Highly Qualified Employees

What was once considered a family issue is now a workplace issue Two changes in the business world, combined with the Family and Medical Leave Act, have direct bearing on what it takes to attract and keep highly qualified employees....

Understanding IRA Minimum Distribution Requirements

Many people who have been contributing to Individual Retirement Accounts (IRAs) for years have watched their account balances grow through tax-deferred accumulation. However, did you know the Tax Code mandates that contributions to...

Security and Your Business

Burglaries can happen to any company, no matter its size, location, or business type. Fortunately, there are things you can do that may help make your business more resistant to crime. Inside Protection Lights—Bright indoor...

Manage Debt Wisely

Regardless of whether the economy is weak or strong, it is important to manage your personal debt wisely. One way to get a handle on debt is to distinguish between “good” debt and “bad” debt. Good debt refers to...

Afraid of a Stock Market Correction? Get a Plan

Lately it seems as if every client or potential client I see asks about the possibility of a looming market correction. Investors are loving these good times, but they're smart -- they know the market runs in cycles, and the good times...

Long-Term Care: Exploring Your Options

Have you ever thought about what would happen if you or a family member were no longer able to live independently? What if your elderly parents were no longer able to drive or perform basic activities of daily living, such as bathing...

Trusts—From Park Avenue to Main Street, U.S.A.

For many of us, the image evoked by the words "trust fund" is one of wealthy people living on the interest earned on "old money" (i.e., the family trust fund). Here's good news: while you should have a fair amount of assets before you...

Long Summer Days and Blue-Chip Stocks

Like summer days, blue-chips can be boring, but also rewarding It’s easy to get caught up on the hot new exciting companies that always make headlines. But sometimes, the staid, boring blue-chips are smart assets to keep for the...

Is It Time for a Brand Makeover?

When you first launched your business, your brand may have been an afterthought, pulled together quickly as you worked on other things. But as your company matures, you may find that your firm’s brand, and possibly even its name,...

“Sweeten the Pot” with a Nonqualified Plan

Regardless of the labor market, attracting and retaining qualified employees and managers is a constant challenge for any business. Competitive salaries are often not enough to entice the best and brightest. Sought-after experienced...

Employees Want More Cash vs. Better Benefits

But most are generally satisfied with their current health benefits While most American workers say they are satisfied with the health insurance benefits they have now, there is a long-term trend toward wanting more cash compensation...

Turning 50

Ah, 50! You are now armed with the hard-earned wisdom of your years, and are eagerly anticipating what the next 50 years will bring! After the birthday candles have been blown out, and you have graciously accepted the...

Safety Tips for Older Drivers

We all treasure our mobility and independence, regardless of age. While older drivers may have decades of safe driving experience behind them, normal age-related changes can cause a gradual decline in vision, hearing, and/or the...

Keeping Your Feet on the Ground in Times of Change

Some life transitions, such as a career change, are planned, while others, such as job loss, are often sudden and unexpected. One common thread running through all transitions is the insecurity of wondering if you will have enough...

Let Your Employer "Work" For You

Many companies offer their employees a tax-advantaged retirement savings option, such as a 401(k) plan, as part of their benefits package. A 401(k) plan provides you with the opportunity to defer part of your salary, with restrictions,...

Life Insurance: Adapting to Changing Needs

When Jennifer purchased her life insurance policy 10 years ago, she assumed that her life insurance planning was complete. She thought that if she just paid her premiums on time, she could sit back and not worry about life insurance...

Trustees and Your Living Trust—Making the Right Choices

If you are thinking about establishing a living trust, you will need to give considerable thought to selecting a trustee. Perhaps you are thinking about naming a family member. Or, you may be wondering whether it would be wiser to...

Keys to Creating a Sticky Website

Driving traffic to your company’s website is a challenge, but converting visitors into customers is even more difficult to achieve. What happens when prospects arrive at your firm’s website? Do they stay awhile to click...

Strategies for Success: Business Succession Planning

When it comes to any business, wishing upon a star won’t ensure its future. Historically, remember the case of Michael Eisner (past chairman and CEO of The Walt Disney Company). First, Eisner’s “second-in-command...

Memorial Day, American Heroes & Thanks

We are forever indebted to those who gave all, so that we might be free Memorial Day is a federal holiday for remembering people who died in our country’s armed forces. Observed every year on the last Monday of May, Memorial Day...

One Critical Mistake to Avoid When You Retire

Let's assume you're ahead of your peers. You've saved, invested and paid down debts. Maybe you've even met with a financial professional to examine your retirement income options. But if you're using traditional strategies, you still...

Consider Nonqualified Deferred Comp Plans

The benefits to employers and key employees can be significant. Employee fringe benefits are considered an essential part of attracting and retaining key employees and executives. However, because the rules for qualified plans place a...

Congratulations to the Class of 2019!

Now it’s time to start drawing up your financial blueprint for your future self. Congratulations, recent 2019 graduates. You now embark on an exciting new chapter of your life. You are eager to start a career and work toward...

Reducing Risks To Your Business

Many business owners are accustomed to taking risks in order to grow their businesses. While there are some forms of risk against which little protection is available, threats to your business can be greatly minimized by identifying...

Keep Debt in Check

In today’s seemingly fast-paced world, where multiple demands on our time seem commonplace, it’s easy to forget about our own fiscal responsibilities. Nevertheless, prudent money management is key to your financial future....

3 Gurus' Timeless Wisdom

Follow investment gurus to avoid investment mistakes. When things seem unsettled, a trio of these savants offer timeless advice you should heed. Such words of wisdom are especially appropriate amid current turbulent circumstances: a...

Life Insurance: Back to the Basics

As you consider the wide range of life insurance coverage available, you may wonder what type really fits your needs now, and what will suit your needs in the future. A good, first step is to ask yourself why you are buying insurance,...

The “What” and “Why” Behind Estate Planning

Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate planning is similar to tax planning, which can always be done “later.” In...

Keeping Your Stress Levels in Check

Regardless of whether business is booming and you are constantly busy, or times are slack and you are struggling to grow your business, it may seem as if the stress involved with running a business is never-ending. However, by...

Protecting Against Loss with Business Interruption Insurance

How long could you afford to be out of business? Many business owners who would never think of leaving their buildings and contents uninsured overlook how much it would cost them in lost earnings if operations were down for a period of...

Attracting Key Employees with Creative Benefits

Employers need to offer a creative benefits package that sets them apart. Whether you are the head of a small, family-owned business or a large corporation, finding the right employees is becoming more and more challenging. Nowadays,...

Evaluating the Costs of Home Ownership

The question of whether to own or rent a home—depending on your personal situation—is usually answered by asking yourself two important questions: How much will it cost you? And, what is your possible return on the property...

The Reality of Early Retirement

Is early retirement on your wish list? Do you envision a relaxing lifestyle in a warmer climate or the leisurely pursuit of a personal hobby? Unfortunately, retiring later than anticipated, rather than sooner, is becoming more and more...

What Will You Do With Your Tax Refund? Make a plan before your tax refund arrives

What will you do with your tax refund? If you are like most Americans, you will probably spend it, maybe even before you receive the check. While splurging may seem fun, you can better use the refund to build your wealth. And establish...

Recreational Vehicles: “Insuring” Safety

As much fun as recreational vehicles are, they come with their own set of motor vehicle insurance issues. For many of them, there are no standard insurance coverages. Here are some of the concerns you might encounter: All-Terrain...

Keep Control: It’s to Your Credit

Are you one of the many American consumers currently asking yourself, “How can I better control my use of credit?” Consumer debt in the United States totals in the billions. Much of this debt belongs to consumers who use...

Maintain Your Retirement Bearings with Asset Allocation

One of the cornerstones of successful retirement planning is asset allocation. By reviewing and adjusting your asset allocation strategy, as need be, you can help ensure your investment program meets your changing goals and needs....

Life Insurance Needs Taking a Closer Look

Without a doubt, it is important to have enough life insurance coverage to handle any financial contingencies that may affect your family if you die prematurely. However, determining the amount of life insurance you need is not that...

The Power of Legal Protection

Without the proper legal, financial, and health care protection, you may be at risk should you become incapable of directing your own affairs. Advance directives are important planning tools that can set forth your preferences in the...

Implementing a Knowledge Management Strategy

What would happen to your business if your most experienced staff member suddenly walked out the door? Would knowledge that is essential to the success of your organization depart as well? Intellectual capital is just as valuable to...

Preserving Your Family Business with Long Term Care Planning

If the word “retirement” makes you simultaneously chuckle and cringe, you may be one of the many family business owners who can’t imagine ever fully stepping down from your company. Even as you establish a business...

A Quick Look at Roth IRA Conversions

One element of the Roth IRA that may spark questions from taxpayers is the issue of converting an existing deductible Individual Retirement Account (IRA) into a Roth IRA. Perhaps one of the more important factors in your decision on...

The Financial Planning Process: Why and How

Planning personal finances used to be the worry of the wealthy and their worry was attended to by teams of trust officers and lawyers. Many of today’s middle class families have different concerns: funding retirement; educating...

Protecting Your Financial Information Online

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

It’s Time to Conduct an Inventory

Try closing your eyes and listing your living room furnishings or the contents of your jewelry box. If you have trouble coming up with a complete tally, imagine how hard it would be after the stress of a fire or burglary. Making a...

Let Investments Grow with “DRIPs”

Dividend reinvestment plans (DRIPs) allow automatic investment of stock or mutual fund dividends for the purpose of gaining more shares, sometimes at a 5% discount and, in many cases, without added fees. DRIPs are actually a form of...

Life Insurance and Divorce: Protecting Your Family’s Future

Sometimes in life, things don’t work out as planned. One of the most trying examples is when a couple decides they can’t make their marriage work and, subsequently, files for divorce. Divorce can take a significant...

The Many Uses of Trusts

Trusts are legal arrangements that provide direction for how you want certain assets managed, for the benefit of one or more named individuals or groups, both during your lifetime and at death. Trusts may be used in a number of...

Advanced Philanthropy: Private Foundations

Overview For many affluent individuals, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often substantial tax deduction, coupled with various estate planning benefits, is...

Guidelines for Employment Recordkeeping

Good recordkeeping can help minimize your risk in the highly regulated arena of employment. Federal and state regulations specify how long certain records must be kept in order to protect an employee’s privacy, meet auditing...

Preparing for a Small-Business Conference

Are you looking for an opportunity to network and acquire new techniques, strategies, and ideas that could benefit your small business? If so, consider attending a small-business conference. The following tips can help you get the most...

Adding Value to Your Benefit Package with Long Term Care Insurance

Professionals who have worked hard and built up assets over the course of their careers may be particularly concerned that their savings could be affected by a long term care event. As the costs associated with long term care continue...

10 Smart Uses for Your Tax Refund

If you have a refund check coming your way, consider using it to bolster your personal balance sheet. The average refund is usually around $3,000, and most people receive the money within three weeks of filing their returns. That's a...

The Big Transition to Retirement

Successful business owners and executives may have spent years building their business or a career, and along the way, if they've done things right, they've planned financially for retirement. If you have reached the point where...

Beyond the "For Sale" Sign: Selling Your Own Home

Have you ever thought of putting your home on the market and selling it without a real estate broker? Selling your own home may sound simple--put up a sign, then wait for buyers to call. Putting up a sign, however, is only one of many...

Protecting Homes Against Termite Damage

Termites cause an estimated $5 billion worth of property damage every year in the United States, making these tiny wood-eating insects one of the biggest threats to the structural integrity of homes and other buildings made with wood....

Issues Facing Growing Families

Chris and Jill (a hypothetical case), both in their late twenties, have been married for five years. Chris is a sales representative for a biotechnology company and Jill works as an ophthalmic assistant at a local eye clinic. When they...

Laddering Investments

A portfolio that relies too heavily on fixed-income investments may be vulnerable to inflation or fluctuating interest rates. One technique commonly used to balance the return and risk of this particular asset class with an...

Is Your Current Life Insurance Coverage on Par?

When Steve Williamson purchased his life insurance policy several years ago, he assumed that his life insurance planning was complete. If Steve paid his premiums on time, he figured he could just sit back and not need to think about...

Solidifying Your Future with Advance Directives

Conventionally, estate planning has focused on how to minimize estate taxes and designate who gets what when you die. If you are a business owner, however, managing your affairs in the modern world has become more complicated, and...

Green Business = Smart Business

Making your small business greener is a win-win situation. It helps the environment, and helps lower costs for you. Conserving resources and reducing waste saves money. So, start making your business environmentally-friendly today. You...

Planning Continues Upon Retirement

As a business owner, you have invested a great deal of time and effort into building your company over the years. You know the amount of planning needed to maintain daily operations and grow your business. Now, you may be ready for...

401k Plans: Educating Your Employees is Key

401k plans offer employees an excellent means to save for retirement. Yet, many workers often pass up the opportunity to participate in their company’s plan because the information presented may seem confusing or difficult to...

Retirement: A New Chapter

For an increasing number of people, retirement signals not the end of a career, but rather the beginning of a new phase—entrepreneurship. Many baby boomers see retirement as an opportunity to start a new chapter in life, and they...

Accident-Proofing Your Home

While you and your family appreciate the many comforts of home, the potential accident risks that exist inside and outside your home may go unnoticed. Here are some simple steps to help convert your home sanctuary into a safer...

Protecting Customers from Identity Theft

Identity theft can have devastating financial and psychological consequences. When thieves make purchases, empty bank accounts, or take out loans under other people’s names, it can take months, or even years, for those who are...

Is Early Retirement as Good as It Sounds?

Have you ever considered taking an early retirement? If you are age 55 and could take home 60% of your pay if you retire now, it may seem that you would be able to retire in reasonable comfort. However, before calling it quits, weigh...

“Laddering” Fixed-Income Investment

Investors who are seeking regular returns and a promise of the return of principal often choose to include fixed-income investments, such as certificates of deposit (CDs), in their portfolios. Conservative fixed-income investments,...

Insuring a Stay-at-Home Parent

The job of homemaker can be rewarding, and the care a stay-at-home parent provides is invaluable to his or her family. However, when it comes to calculating life insurance needs, many families obtain only coverage for the primary...

Smart Steps for Small Estates

Even if you are just starting to build your estate and do not need complex estate planning, there are several steps you should consider taking immediately in order to protect your family and to reduce expenses in the event of your...

Business Succession Planning

Business owners are often so busy with the day to day issues of running and growing their companies that the issue of business succession is often overlooked or left on the “back burner” until it’s too late. What...

Growing Your Business on a Small Marketing Budget

Marketing is a challenge when the amount of money your business can afford to spend on advertising and public relations is limited. But, with a bit of creativity, you may find you do not need a big marketing budget to build your...

Understanding Your Employer-Sponsored Retirement Plans

A pension plan is designed to provide an employee with retirement income. Benefits are generally based on a variety of factors, including salary, length of service, and a benefit formula that averages the employee’s earnings over...

Retirement: A Community Audition

America’s Changing Vision of Retirement A house once filled with the constant comings and goings of a growing family has become quiet. Family visits are now few and far between. The indoor and outdoor maintenance of a home is...

Property and Casualty Insurance: Covering Life’s Uncertainties

Property and casualty insurance provides a cushion for many business owners in the event that their companies weather a disaster or other loss. But how do you know if you have sufficient coverage? On the one hand, excessive insurance...

How To Keep All Your Financial Accounts & Assets Neatly Organized

Don’t let disorganization become one of your biggest money problems. It’s easy to lose or misplace money. But unlike finding $20 in an old jacket, what if a bank or investment account containing thousands goes untouched for...

It’s 9:00 PM: Do You Know Who Your Fund Manager Is?

Most investors who hire an investment or financial professional know that the relationship with that professional is a highly personal one. The investment/financial professional is, more than likely, a party to all client financial...

Going into Business—Look before You Leap

Have you ever wondered how much fun it would be to turn your hobby into a business? In the past, a strong American economy led many people to consider taking their favorite pastime and making it a full-time occupation. However, before...

Insurance: Protecting Your Future without a Crystal Ball

If every one of us could have our own personal fortuneteller to accurately advise us about future events that could create financial loss in our lives, we would all be prepared. However, in the real world, no family has a crystal ball....

Select Trustees with Care

If you are thinking about establishing a trust, you need to select a trustee—someone who is charged with administering the trust according to your wishes. Perhaps you are considering naming a family member, or maybe you are...

If You Were Furloughed, Do You Have Cash?

Your emergency cash fund is as important as your retirement funds. If the partial government shutdown resulted in approximately 800,000 federal workers across the county missing a paycheck on January 11th, and if the shutdown continues...

Perking Up Benefits: Executive Bonus Plans

If you’re like most business owners, attracting and retaining competent employees and managers is a constant challenge. That’s why many employers work hard at developing an attractive compensation package for their...

Wading Through the Issues of Nonqualified Deferred Compensation

Overview: Employee fringe benefits are considered an essential part of attracting and retaining key employees and executives. However, because the rules for qualified plans place a limitation on contributions to retirement plans, many...

Good Use of a Year-End Bonus

Spending money isn’t a bad thing, but spend mindfully Many companies earmarked 2018 year-end bonuses this past fall – well before the markets reversed course. As such, you may find yourself fortunate: You got a year-end...

Your 2019 New Year’s (Financial) Resolutions

A resolution for every month to help you gain financial independence Cleaning up personal finances remains one of the top resolutions every New Year. But we all know what happens to most such self-promises, so here’s a...

2018 Yearly Market Review

A record-setting year for stocks, but one investors would rather forget As we reflect on 2018, it is tempting to sugarcoat the year by simply reporting that it was a record-setting year for stocks – because so many investors...

Retirement Planning: Let the Journey Begin

The sage advice that a journey of a thousand miles begins with a single step, also applies to saving for your retirement. It’s up to you to take that first step. If you wait until you have “enough” money to begin...

Keeping Your Homeowners Coverage Up-To-Date

If you are like many people, your home is your largest asset and obtaining a homeowners insurance policy is the first step toward protecting that asset. While you selected an amount of coverage that appeared sufficient at the time the...

Here's What It Takes to Borrow

When you apply for a loan, remember that lenders look for three ingredients that will lead to a favorable approval of you as a borrower. Character is primary. Lenders look at credit reports as evidence of your record of repaying. They...

Is Your Portfolio Out of Balance?

How would you rate your current portfolio? In an “up” economy, if you are like many investors, you’d probably have a hard time coming up with any negative adjectives. After all, when there’s significant growth...

Insurance: Different Strokes for Different Folks

Have you ever thought about the valuable role life insurance can play in helping you achieve a variety of important financial objectives? Let’s look at some “slice of life” examples, and we’ll see how life...

Second Marriage—Estate Planning Strategies

Today, second marriages are happening with increasing frequency. The past ties could complicate the future, especially where family members and financial obligations are concerned. Estate planning for people in a second marriage takes...

Giving Back to Your Community While Improving Your Bottom Line

Regardless of size, companies benefit when the community in which they do business thrives. For entrepreneurs, giving back to the community is more than just a charitable act; it makes good business sense. If you have been reluctant to...

When Your Flight Is Canceled

Your flight getting canceled is a pain, but doesn't have to be a disaster With winter weather already blowing in, travel can get complicated. And considering the number of people affected on the busiest travel days of the year, it's...

Online Reviews: Protecting Your Company’s Reputation

The number of consumers that purchase services and merchandise online is escalating annually, and so is the activity of responding to local and Internet shopping experiences by posting immediate feedback in the form of online customer...

Understanding Retirement Plans

A pension plan is a means for providing income when an employee reaches retirement age and will no longer be working. If you work for someone else, you may be eligible to participate in an employer-sponsored retirement plan. If you are...

Playing by the IRA Rules

Individual Retirement Accounts (IRAs) offer tax-deferral benefits to individuals who are saving for retirement. But with those benefits, there are certain rules about when distributions may be taken to avoid penalty taxes....

Amazon, Unemployment and the State of Retail

The Retail industry will likely have a challenging time attracting employees Since early October of 2018, a few interesting topics were widely circulated among the press and each of them received quite a bit of coverage. But taken...

Retirement Mistakes to Fix Before the Holidays

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

Product Liability Insurance: Who’s at Risk?

Rigorous manufacturing standards and enhanced quality control are perhaps the best ways to prevent a product liability lawsuit. However, as the link between companies and consumers weakens, manufacturers, distributors, wholesalers, and...

Getting Your Life on Track Before Your Spouse Dies

The death of a spouse always has the same impact: emotional devastation and turmoil within the family. The one thing you don't need, along with this emotional upheaval, would be the added burden of the surviving spouse being "in the...

Is Your Portfolio an Investor’s Ensemble?

One of the more challenging aspects of managing finances today is deciding how much to save and which savings vehicles are most appropriate in helping you reach your goals. Naturally, you hope to create a savings and investment plan...

Exiting the Correction and Other Thoughts

As the calendar gets ready to turn, think about your original goals As we head into mid-December, it’s important to keep the past 11.5 months in perspective and remember your original goals from the beginning of the year. Sure,...

President George H.W. Bush on Respect

With one of the most impressive resumes of any President, Mr. Bush was also a firm believer in hand-written notes. George Herbert Walker Bush was born in Massachusetts and raised in an affluent Connecticut suburb not far from New York...

Insurance: A Security Blanket for the American Dream

Unexpected occurrences, such as death, disability, or other personal loss, are certainly not the types of events for which you can easily plan. However, the financial ramifications can be quite serious—not only for you, but your...

Revisiting Elder Care Issues

It is no longer unusual for people to live 20 or more years beyond normal retirement age. Consequently, when seniors reach their eighties and nineties, plans that were satisfactory at age 65 often require a second look. Areas of...

Family Business—Laying the Groundwork for Success: Ensure Your Legacy

Is your growing business still a one-person operation? As your company continues to grow and the workload increases, it is easy to find yourself wearing too many hats and not having enough hours in the day to accomplish everything that...

Umbrella Policies: Extra Coverage and Peace

Why doesn’t anyone ever tell you not to buy an umbrella liability policy? It seems like additional overall security for pennies. Sure, you can spend pennies paying for something you don’t need or will never use, but...

The Benefits of Volunteering

With the cost of providing health care and other employee benefits rising, small businesses often find it difficult to compete with larger companies in attracting and retaining the most talented workers. Compared with other types of...

A Look at Tax Planning for Retirement

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount...

Pet Insurance: Bark or Bite?

When you think of the word “insurance,” what comes to your mind? Most people think of certain policies, such as auto, homeowners, health, or life insurance. Although these types of policies may cover your basic needs in...

Is It Time to Rebalance Your Portfolio?

Let’s assume you’ve built, maybe with the help of an investment professional, a mutual fund portfolio reflecting how much risk you’re willing to take for some measure of reward. Professionals recommend that you review...

Getting Your Financial House in Order

Many people may find the notion of creating and adhering to a financial plan about as appealing as doing housework. As everyone knows, putting off chores can lead to further procrastination. And, the longer you let things go, the more...

Increasing Awareness of Sundowning and Dementia

The word “sundowning” refers to a state of agitated behavior that worsens toward the end of the day and into the night. It is a symptom that is associated with some forms of dementia, including Alzheimer’s disease,...

Helping Aging Parents Manage Their Personal Finances

With increased longevity in the U.S. population, many retirees may find themselves in the position of helping elderly parents or relatives to manage their finances. If you have an aging parent or relative in need of assistance,...

Getting the Most from Outside Consultants

At various points in its development, your business may benefit from the expertise and insight that only an external consultant can provide. But without the right selection process and procedures in place, bringing in an outside...

Nonqualified Plans: Baiting the Benefit Hook

Attracting and retaining qualified employees and managers is always a challenge for companies of all sizes. Most employers realize competitive salaries are not the only things desired by the best workers. Sought-after employees also...

The Basics of the 401(k) Thoughts from a financial advisor

Most often, the first question a prospective employee will ask is about your company’s benefit program. And in my experience, the two most often-asked questions are about health insurance and an employer-sponsored retirement...

Leading Edge Strategies for Retirement

Everyone has specific expectations and dreams about retirement, but will your current plan meet your ultimate objectives? Today, more than ever, planning for retirement is a necessity. Preparation and follow-through can help you avoid...

The Changing Face of America: Dual Income Families A fixture in today’s society

The concept of the “traditional” American family is continually changing. The dual income family—with both spouses maintaining separate careers and contributing to the financial success of the household—has now...

Keeping an Inventory of Your Valuables

Try closing your eyes and mentally listing your living room furnishings or the contents of your jewelry box. If you have trouble coming up with a complete tally, just imagine how difficult it would be to do this after a fire or...

How to Compare Leasing vs. Buying a Car

Some families have no problem discussing money. For the rest, use these tips to get your family on the same financial page. How many times have you been given the wrong change at a store or restaurant and just accepted it? Maybe the...

Is It Time to Look at Municipal Bonds?

Taxpayers in the upper income brackets are discovering that finding alternatives for tax relief may be a little like looking for the hard-to-find character in “Where’s Waldo?” Fueling their search may be a desire for...

Borrowers to See New FICO Scoring System

The goal is to account for a borrower’s cash transactions and banking history. When it comes to our credit score, Americans are doing better than ever. Since bottoming out with an average FICO Score of 686 in October 2009 –...

Reduce Future Uncertainty with Advance Directives

Estate planning has traditionally focused on how to minimize estate taxes and designate “who gets what” when you die. However, managing your affairs in today’s modern world has become more complicated. Quality of life issues involving.....

Ways the Midterm Elections Will Impact Investors

The 2018 Midterm Elections will feature hundreds of hotly contested races at the state and local level and will culminate with the November 6th general election that will decide whether the Republicans maintain – or the Democrats...

How to Talk about Tough Topics

It’s easy to procrastinate and make excuses to avoid talking with your aging parent (or other loved one) about essential life choices and end-of-life issues. Even if your loved one is in failing health, you may still avoid...

Putting Trusts to Work for You

Trusts are valuable planning tools that can help you and your family achieve a variety of financial and estate planning goals. You may find many practical ways to use a trust for your investments, retirement, children’s education...

Assessing the Health of Your Business

In today’s business climate, it may be more important than ever for companies to operate at maximum efficiency and with a keen awareness of the potential impact of changes in their industry and the economy. Using a SWOT analysis...

Marketing Budget Limited This Year? Try Grassroots Marketing

With the glut of advertisements, press releases, direct mail, and other promotional vehicles crying for attention, it’s become quite a challenge to get your message out to clients and prospects. Word of mouth is often the best...

Sustainability For Small Businesses

There has long been a perception that “going green” adds to the cost of doing business. But as more companies of all sizes and in all sectors experiment with environmentally friendly approaches, the evidence is mounting...

Racing to Retirement: You Can Finish First

With all the chores required to get through each day, many of us spend all of our free time trying to complete routine tasks. The few waking hours not consumed by work can easily be filled with duties such as cleaning, grocery shopping...

Managing Business Risks

Minimizing costs is one of the main objectives in developing a risk management and insurance program. This involves reducing or eliminating risks wherever possible, as well as determining whether certain risks can be assumed by your...

Good Credit: Teach Your Children Well

Many parents teach their children the ABCs at a very young age, but do they teach them the ABCs of good credit? At certain points in life, everyone must deal with banks, loans, credit, and finances. You may have learned your lessons...

Investing: Understanding the Basics

The market’s growth in recent years has certainly provided a boost to the portfolios of many investors. However, during these unprecedented economic times, it is possible that some individuals may have become a bit complacent...

How Healthy is Your Long-Term Financial Plan?

When it comes to long-term planning, the realist has an edge. No one wants to think about the prospect of his or her own failing health, but considering it now, in the short run, may make your future more comfortable and secure. One of...

Protecting Your Future with a Living Will

How do you feel about life-support systems for the terminally ill? How much thought have you given to the decisions your family may face when contemplating the choice of maintaining or terminating life-sustaining medical treatment for...

Getting New Hires Off to a Good Start

Take a moment to imagine what it would be like to walk through the doors of your company for the first time. How would you like to be treated? What training and tools would you need to get started in your new job? First Impressions How...

Maintaining an Even Keel with Key Person Insurance

As a business executive, suppose you were to arrive at your desk one morning only to be informed that your key sales manager had died unexpectedly during the night. Have you ever considered how such a turn of events might affect your...

SEPs and the Self-Employed: A Quick Review

Today, the Simplified Employee Pension (SEP) plan is a popular retirement savings option for self-employed sole proprietors and partners. However, before you open a SEP, it’s important to understand the distinction between...

Planning Retirement: Making the Numbers Add Up

Americans are living longer, healthier lives than ever before. As a result, for many people, retirement may last 20 years or more. So, if “time is money,” how many years do you have in the bank? Because inflation will most...

Little-Known Facts about Flood Insurances

The National Flood Insurance Program (NFIP, 2013) reports that flood losses during the last decade, from 2001 to 2010, totaled nearly $2.7 billion dollars. Considering the relatively low cost for protection, flood insurance may be a...

Giving Your Card a Charge

According to The Federal Reserve more than 174 million Americans have credit cards. The average credit card holder has at least three cards and carries more than $15,000 in credit card debt. At the end of 2017, U.S. consumer debt...

Investors Need to Keep Personal Perspective

One of the biggest challenges facing the average investor is deciding how to allocate personal savings or retirement assets. Naturally, most individuals hope to create an investment portfolio that is consistent with their personal...

Home Health Care: Ensuring Comfort for Your Loved One

Are you thinking about home health care for your parent or loved one as a solution to providing help with daily activities such as bathing, meal preparation, and housekeeping? Many older individuals benefit from receiving assistance in...

Helping Your Heirs While Helping Others

A charitable remainder trust (CRT) can be a highly effective financial and estate planning tool. The CRT can allow you to: avoid capital gains taxes on highly appreciated assets, however when income is distributed to the income...

Generation Z Value Face-To-Face Business Communication

In an apparent break with their technology-obsessed millennial predecessors, members of Generation Z who are starting to enter the workforce are ready to put down their devices, and are more aligned with Generation X in their...

Life Insurance A Tool for Businesses

Life insurance is an important component of many business arrangements. While most business owners are familiar with life insurance as an employee benefit, many may not be aware of the variety of other potential business uses. Here are...

Salary Continuation Plans for Key Employees

Salary continuation plans are essentially deferred compensation arrangements between employee and employer; they stipulate that extra benefits will be provided to the employee after retirement, disability, and/or death, provided the...

Paving Your Road to Retirement

Whatever your age, it’s never too soon to look ahead and begin giving thought to your retirement. With proper planning, you can make the transition to retirement a smooth, comfortable and secure ride. Today, more than ever,...

Is Your Homeowners Policy Up-To-Date?

Unlike the Declaration of Independence, all homeowners insurance policies are not created equal. Review of your coverage and policy components will help you ensure you have the proper type of policy and proper amount of coverage to...

Focusing on Your Finances

While most people find the notion of creating a budget about as appealing as cleaning out closets, most would agree that the result—a well-crafted and useful budget—is worth the work. Two financial “snapshots”...

Investments 101

The task of assembling an investment portfolio may present you with many questions. One of the most important is, “What assets would I like to include in my portfolio?” Although it may sound like a simple question, the...

Health Insurance: How’s Your Coverage?

Health care always seems to be a hot topic in political circles. Because resolution of important health care issues may take time, you may be left with the immediate task of evaluating your own health coverage situation. Coverage for...

Pros and Cons of Probate

Two main responsibilities of the probate court are to determine the validity of a will and to ensure that it is faithfully executed. Although most states have exemptions for smaller estates, a will ultimately falls under the...

Forms of Business Ownership

As a business grows, its structural needs may change. Changing the structure of your business will have long-term implications, so consult with an accountant and attorney to help you select the form of ownership that is right for your...

Unemployment is at Historically Low Levels

But it’s easier to get into Harvard than get an administrative assistant job. On Friday, September 7th, the United States Department of Labor released the “Employment Situation” report and there were some fascinating...

Was 9/11 This Generation’s Pearl Harbor?

There are chilling similarities – but fundamental differences too. On December 7, 2001, a Gallup Poll ran the following headline: “Americans Say Sept. 11 Will Be More Historically Significant Than Pearl Harbor.” That...

Key Person Insurance: Cash, When It’s Needed Most

If the ongoing success of your business depends on one or more key individuals, you may want to consider the role that insurance can play in protecting your business. The death or disability of a key employee—such as an owner or...

Removing Money from Your 401(k) before Retirement

If you participate in a 401(k) plan, you probably know that it’s possible to take money from your account before retirement. Aside from retirement, death, disability, or divorce, there are essentially two ways you can do this: 1)...

Planning for Early Retirement

The dream of early retirement may become a happy reality on your sixty-second birthday. From that day on, you have the right to start drawing Social Security retirement benefits, assuming you have paid into the system (based on your...

Aretha Franklin Died Without a Will

When legendary singer Aretha Franklin died of advanced pancreatic cancer at age 76, she did not have a will or trust, according to documents filed in Oakland County Probate Court. And now the $80 million estate of the intensely private...

Financial Tips for Younger Generations

Young adults in their twenties and early thirties face a variety of challenges in their quest for financial security. Some of these challenges are similar to those faced by previous generations, while others are unique to the times. If...

Insuring Your Business: Are You Prepared for the Unexpected?

There are two risk exposures that no business owner can afford to overlook: property loss and liability loss. Property insurance generally covers your building, contents, and equipment in the event that physical property needs to be...

Curing Bad Money Behavior

Financial therapy is different from financial planning. Or is it? Many financial advisors are starting to work jointly with mental health counselors to help clients who are having difficulty making financial decisions or changing...

Investments for the Stages of Your Life

At each stage of life, you’re likely to have different financial needs. Therefore, saving and investing strategies that are right at one point in life, may not suit another time. You can learn to capitalize on strategies that are...

Health Clubs Need Workouts, Too!

Fitness is booming in America, and Americans are trying to take care of themselves as they never have before. From power walks to diet plans to regular workouts, racquetball matches, or lap swimming, we are flocking to fitness programs...

Privacy Rules Emphasize Importance of Advance Medical Directives

Stringent privacy rules make it important that you consider advance medical directives to help direct your future health care. Under the Health Insurance Portability and Accountability Act (HIPAA) privacy regulations; doctors,...

FLPs—Impenetrable from Creditors?

The family limited partnership (FLP) has been touted as a powerful tool for estate planning and for managing family wealth. In theory, assets that are otherwise attractive to a creditor become unattractive once transferred to an FLP,...

Key Employees: Protecting Your Most Valuable Assets

Suppose you arrive at your company one morning and discover that a key employee died unexpectedly the night before. Have you ever considered how such a turn of events may affect your company? Along with losing a valued member of your...

Retirement Planning—Options for Women Business Owners

You’re an entrepreneur and you’re not looking back. You’ve opened your own business, whether alone or with other partners, and you’ve found some success. You’ve hired employees, or not, depending on your...

Pension Payout Options: What’s Right for You?

When you think of retirement, you probably envision the enjoyable ways you will spend your free time. But, you may also want to give some thought to receiving your funds while in retirement. If you participate in a company pension plan...

10 Projects to Help You Live in Your Home Forever

In response to demands from baby boomers, aging-in-place improvements that help seniors stay safely in their homes are more stylish and functional than before. Think of a curved and tiled shower soap dish that also serves as a grab bar...

Insuring Your Antiques

Did you know that most standard home insurance policies limit the amount of fine arts, paintings, and similar valuables that may be covered by the personal property limit? Owners of fine art, antique furniture, heirloom or estate...

4 Procrastination Mistakes

We’re all busy. There is always some new item on our constantly growing to-do lists. Some tasks are fun to take on others are tedious, boring, long or all the above. But some of the most important to-do’s in our lives often...

Investment Pointers to Remember

How much should I invest, and in what areas, to reach my long-term financial goals? Even though you may believe your dollars are not stretching far enough to cover current expenses, you should set your goals, review some very basic...

Future Health Care Trend Says “Stay Healthy!”

It’s in your best interest to stay healthy, not only for your personal well being, but also for the way it can affect the health care benefits you receive from your employer. The time when a company paid 100% of all medical...

Practical Uses for Practical Trusts

Trusts are valuable tools that can help you and your family achieve a variety of financial and estate planning goals. As you plan your long-term strategies, you may find many practical ways to use trusts to manage your investments,...

FLPs: An Estate Planning Alternative

Proper estate planning helps business owners reduce estate and gift taxes, as well as manage the transfer of assets to heirs. However, one of the greatest challenges of estate planning is implementing a plan that will help you achieve...

Keeping Sight of Personal Priorities

In the rush of daily business activities, business owners­ can lose sight of what they had originally hoped to accomplish through their continuous efforts. Over time, as the business grows, personal objectives may also change. When...

Providing Employees with Flexibility and Choice

A growing number of business owners are providing flexible benefits through a Section 125 cafeteria plan as one method of attracting and retaining their employees. Generally, under this plan, a menu of choices is offered to employees,...

Is Your Retirement Highway in Need of Some Roadwork?

Somewhere along your road to retirement, you should pull to the side and look at your “map.” Will your road to retirement be a smooth one or filled with potholes? How far down the road is your retirement and have you packed...

The Five Stages Of Grief

Grief is the natural emotional response to loss, and no loss is more profound or lasting than death. The grief experienced as the result of a death can be deep, very painful, and can often feel unending. But grief is also a process,...

Insurance Coverage for Commercial Properties

Property and casualty insurance provides important protection for many business owners in the event of a disaster or other loss. In general, there are three types of insurance policies that are applicable to most business and...

5 Signs You Need Money Counseling, Not Marriage Counseling

Many couples blame their marriage problems on disagreements and an inability to see eye to eye. Marriage counseling is a great option for couples who need to learn how to better communicate, but it might not solve the problem that...

Investment Personality Quiz

Do you know your investment “personality”? Here is a simple quiz that can help you identify whether you are aggressive, moderate, or conservative. The quiz consists of five questions. There is no right or wrong answer, so...

First-To-Die Life: A Policy for Unique Needs

Under the proper circumstances, survivorship life insurance can be a cost-effective mechanism to help fund debt obligations such as estate taxes. These policies insure two people and pay a death benefit after the death of the second...

Planning Your Estate before Remarriage

Despite the best intentions, marriages may not last forever. If you are divorced or widowed, and planning to remarry, you may want to take the opportunity to review and revise your estate conservation strategies. This is especially...

5 Signs You Need A Financial Planner: Asking for help is a sign of strength, not weakness

Sometimes it’s hard to ask for help and you think you can – or should – handle things yourself. Whether it’s taking care of a nagging injury, fixing the sink, changing the oil in your car or doing your own taxes...

FLPs: An Estate Planning Alternative

Proper estate planning helps business owners minimize estate and gift taxes, as well as maximize the transfer of assets to heirs. However, one of the greatest challenges of estate planning is implementing a plan that will help you...

The Trillion Dollar Club: The world’s largest companies are huge and their industries are shifting

It is fascinating to compare today’s list of the largest companies in the world (by market cap) with a similar list from a little more than 20 years ago. As the economy moved from heavy industry to consumer goods to technology...

Involving the Family can be Good Business

If you’re fortunate enough to own a small business, has your enterprise flourished into something a bit more complex than you ever would have expected? If this sounds familiar, you probably also have experienced a gradual shift...

Protect the MVP from a Disability

You may be your business’s most valuable player (MVP). Therefore, proper measures should be taken to protect both your income and your business should you suffer a disability. Disability income insurance offers protection against...

Mapping the Road to Retirement

It makes sense to periodically review your financial strategy along the road to retirement to make sure you are taking advantage of all available tools and resources that may help build your retirement income. Your ability to save more...

Insurance Claims: An Inventory Is Invaluable

Try closing your eyes and listing your living room furnishings or the contents of your jewelry box. If you have trouble coming up with a complete tally, imagine how hard it would be when you are distraught after a fire or burglary....

Creating a Long-Term Financial Plan

To help manage your personal finances, you can purchase computer software that will balance your checkbook, figure out your budget, track your investments, and even help take the sting out of filing your income tax return. Even with...

Investing: Selecting Funds with “Style”

Most people are very style conscious about their choice of clothing, but they may be far less discriminating when it comes to their choice of mutual funds. What, you may ask, does style have to do with investing? A fund’s name...

Finding a Home Health Care Provider

It may take time to find an appropriate home care provider. First, it is necessary to determine your loved one’s specific needs. For guidance in assessing needs, family members may consult with their loved one’s physician,...

Long-Term Care: Understanding Your Options

Over the next 50 years, the age 85 and older population is expected to be the fastest growing segment of society. Unfortunately, along with aging, the chances of needing long-term care (LTC) increase. The primary reason for this is...

In the Heat of Summer, Remember Your New Year’s Resolutions?

2018 is half way over - how are we doing? Now is a good time to check-in and see how you’re really doing. Amid the draining heat of mid-summer, do you remember your New Year’s resolutions regarding your personal financial...

Divorce – The Retirement Killer: Worse for baby boomers, worst for women

It’s an unfortunate statistic that everyone knows – more than 50% of marriages will end in divorce. But it’s also a statistic that has lost its impact. So, let’s try another tact. In the United States, we see: 1...

Financing Your Own Business

Starting a new business can be an exciting prospect. However, securing capital to begin operations can often be frustrating and difficult. While there are a number of potential sources of financing available, typically, personal funds...

Get SMART: Tips for Effective Goal Setting

Regardless of which phase of the business life-cycle you’re in, you can get SMART about setting goals to motivate yourself, move forward to grow your business, and track your success. SMART goal setting for small business owners...

Profit-Sharing—Age and Service Weigh In

For quite some time, profit-sharing plans have been recognized by many small business owners and professionals as effective, qualified retirement savings mechanisms. Generally speaking, these plans allow employees to share company...

7 Retirement Considerations

When helping people get ready for retirement, financial advisors find the same issues come up over and over. Thinking ahead can spell the difference between a successful retirement with enough money and a stressful one with difficult...

How to Survive the Dog Days of Summer

It often seems as if summer lasts from Easter to Halloween. But we typically see the hottest of the hot days (the “dog days” of summer) in late July and August, and we've had our fair share already. This raises some concern...

Home-Based Businesses: The Best Ways Working at Home Can Work for You

Flexible hours. Casual dress. Relief from daily commutes in rush hour traffic. Millions of Americans enjoy the independence of working at home. With the freedoms of a home-based business come the responsibilities of being your own boss...

Financial Tips for “Generation Xers”

Young adults in their twenties and thirties—so-called “post boomers” or “Generation Xers”—face a variety of challenges in their quest for financial security. Some of these challenges are similar to...

Investment Performance: Compared to What?

With daily market fluctuations, it is not always easy to understand how well your investments are doing. One way to determine performance is to evaluate your investments objectively using industry-standard performance benchmarks. A...

Family Caregivers: Opening the Door to Support Groups

When a friend or healthcare professional suggests that you try a caregivers’ support group, do you immediately imagine a group of people sharing sad stories, leaving attendees feeling worse after the meeting than they felt when...

Just Married: Newlywed Estate Planning Cheat Sheet

Congrats on your recent nuptials! Now that you’ve said the vows and enjoyed a relaxing honeymoon, it’s time to get down to business. Friends with Beneficiaries The following accounts need to be updated to reflect your...

Family Business—Stepping Out of Your Predecessor’s Shadow

At one time or another, many small businesses experience a transition in leadership. Typically, a family member or other close associate takes over after years of apprenticeship. This transition is usually the culmination of a...

Funding Buy-Sell Agreements with Life Insurance

Suppose you are part owner of a firm that has been your family’s primary source of income. Have you ever considered what would happen if you were suddenly diagnosed with a serious medical condition? Naturally, your family’s...

Interesting Facts About Independence Day: The Business of Fireworks

As most middle-school age kids know, in the summer of 1776, representatives of the 13 colonies considered a resolution that would declare their independence from Great Britain. And on July 2nd of the same year, the Continental Congress...

EAPs Help Employees Overcome Personal Challenges

When personal problems occur, it is not always possible for employees to leave their troubles at the door. Domestic hardships, the death of a family member, mental or physical health issues, financial concerns, substance abuse, or...

Summer Job Tax Tips: Welcome to Adulthood Kids

It’s almost July 4th and for teens and young adults taking summer jobs, it’s time to gain experience, earn some cash and learn a bit about adulthood. And one of the best grown-up subjects to start with? Taxes. Whether...

Pick Your Perks—Fringe Benefits That Work

Is your fringe benefits package offering the “perks” that really count with today’s executives and key employees? Without discussing the technical details of program implementation, or the legal and tax ramifications...

With a New Job Comes New Investing Opportunities

Land a great new job? Awesome. Now is the perfect time to think about your 401(k) and retirement plan, whether you had one before or not. Saving for retirement is important at all ages, so don’t let this opportunity fall to the...

Investing in Your Vacation: Why do most avoid this important investment?

Why do so many of us not use our vacation days? Salespeople talk about “leaving money on the table.” Well, employees leave vacation on the table. And the cost to us is significant. In fact, Americans leave 429 million...

IRA Distribution Rules Simplified

Complying with the minimum distribution rules for traditional Individual Retirement Accounts (IRAs) has, until recently, been mind-numbingly complex. Even “experts” frequently made calculation errors, which could result in...

Home Sweet Home: The Power of Your Homeowners Policy

If you’re like most homeowners, the importance of homeowners insurance is obvious. If your home is damaged as a result of fire, theft, lightning, heavy snow, or high winds, your homeowners policy would likely cover the cost of...

Financial Perspectives on the “Car Buying Experience”

Shopping for a vehicle may begin with the question, should I buy or should I lease? Depending on your answer, there may be a substantial difference in what you will get for what you can afford. In addition, if you decide to buy, rather...

Investing in a Global Marketplace

If you’re looking to diversify your investments against fluctuations in the American economy, then you may want to consider investing in foreign securities. This strategy assumes that by investing in more than one economy,...

Empower Your Loved One: Encourage Independence

Regardless of age, we all value our independence. We like to come and go as we please, running errands, going grocery shopping, and driving to appointments. But what happens when an aging parent, spouse, or relative is no longer...

12 Estate Planning Must-Dos

Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. 1. Do you have a will and powers of attorney...

Exit Strategies for Business Owners

After years spent launching and growing your business, the day will finally arrive when you can sit back and enjoy the fruits of your labor. But, just as starting your business involved hard work and planning, the process of exiting...

Ensuring Continuity with the Disability Buy-Out

Most business owners have life insurance to help protect their families against the financial impact of their premature deaths. They also insure their valuable assets against financial loss resulting from various casualties. Some,...

Get “In Sync” with Today’s Retirement Plans

Although small business owners wear many hats, too often, the one labeled “Retirement Planner” is not among them. Hats may add panache but, basically, they’re for protection. Today, planning your financial future, as...

What Determines Your IRA’s Required Minimum Distribution Amount?

If you have savings in a traditional Individual Retirement Account (IRA), you must begin making withdrawals at age 70½. To calculate the amount of a required minimum distribution (RMD), you divide the IRA balance (as of December...

Facing a Retirement Shortfall—A Positive Plan of Action

Michael Parker, a 46-year-old sales executive and his wife Sandra, a 43-year-old nurse, live in Boise, Idaho. They are planning to pay for their children's college education and are reviewing their retirement needs, savings goals, and...

If You Rent, Cover Yourself

Many people who rent may assume that damage to their personal items will be covered by a landlord’s insurance should their rental property fall victim to a fire, theft, explosion, or other disaster. Renters are often dismayed to...

Financial Management: Charting Your Course

Mastering money in our society is not a simple task. Making sound financial decisions requires knowledge of investments, taxes, risk management, estate planning, pension benefits, and other areas--coupled with an understanding of how...

Invest Wisely: Know Yourself

One of America’s foremost thinkers, Benjamin Franklin, stated that “an investment in knowledge pays the best interest.” For individuals beginning to develop an investment strategy, no truer words may have been spoken....

Early Signs of Long Term Care Need

Many people routinely plan for vacations, their children’s college education, home renovations, and, of course, retirement. But when it comes to planning for long term care, most would rather not think about it—or at best,...

Important Steps in Managing Your Estate

If you are like most people, wills, trusts, life insurance, disability income insurance, and advance directives are topics you would just as soon avoid. Yet, timely planning is necessary to manage the assets you have worked so hard to...

Dreaming of Owning a Second Home?

Summer is here and with it are fanciful dreams of owning a second, seasonal home. Maybe it’s a beachside bungalow or a mountain cabin or a lakefront cottage with a front porch and a sweeping view of the sunlight on the water. All...

Debt is Increasing Among the Elderly

And this is a problem for retirement readiness that needs to be addressed Noting that financial liabilities are a vital but often ignored component of retirement income security, researchers at the Employee Benefit Research Institute...

Buying Locally and Giving Locally: Maybe your charitable donations should stay in your zip code?

For many of us, buying locally matters. We’ve all heard the term and seen the signs: Shop Locally. Eat Locally. But let’s extend that thought for a minute: do you consider giving to your local charities? The fact is we are...

Rising Oil Prices and the Impact on Consumers

Gas prices expected to climb 33 cents this summer. The stock market in 2018 has seen large fluctuations, beginning with fantastic returns in January, followed by a real bona-fide correction in February, a middling March and a decent...

High School Graduation is a Time to Celebrate: But it’s also a time to do some life-planning

The spring ritual of high school graduations is here. But graduates and their parents often are poorly prepared to meet the practicalities of the youngsters’ sudden entry into adulthood, from making medical decisions to choosing...

Memorial Day, American Heroes & Thanks: All gave some; some gave all

Memorial Day is a federal holiday for remembering people who died in our country’s armed forces. Observed every year on the last Monday of May, Memorial Day is celebrated in lots of ways. Regardless of how you are celebrating,...

Entrepreneurs aren’t Born, They’re Made

Who are entrepreneurs? Sometimes they are the people who leave the corporate world to pursue their own dreams. In many cases, they may be individuals who have found themselves dislocated or “downsized” from a previous job....

Improving Your Presentation Skills

Business owners who make frequent presentations have worked hard in developing their skills; however, those who speak in public only occasionally may be much less confident when they find themselves having to make a presentation before...

Helping Part-Time Employees Feel Like They Belong

There are many reasons why your company may employ part-time workers, such as meeting seasonal workflow demands or retaining employees who no longer work full-time. Yet, because part-time employees are not present throughout the entire...

Taxing Issues for Divorcing Couples

Caught up in the emotional turmoil that usually accompanies divorce, it is easy to for estranged couples to overlook the serious financial issues that arise as they seek to divide up their assets and establish independent lives. But...

In Spring, Some Thoughts Turn to Retirement

It's never too early to start planning for a comfortable retirement. Consider this: At age 65, only five out of every 100 retirees are financially independent. Twenty-two must continue working, 28 depend on Social Security, welfare, or...

ID Theft: How Does It Happen?

In today’s technologically advanced society, identity theft is a common and serious offense. The Identity Theft and Assumption Deterrence Act of 1998 defines identity theft as the following: when someone “knowingly...

Credit Files: What Do They Tell?

Many Americans never overspend and take great pride in paying their bills on time. When they apply for credit, such as a mortgage, however, they may discover some shocking news: A credit report indicating seriously delinquent bills....

Increase Your Holdings through Automatic Reinvestment

Dividend reinvestment plans (DRIPs) allow for the automatic reinvestment of stock or mutual fund dividends for the purpose of gaining more shares, sometimes at a discount and, in many cases, without added fees. DRIPs are actually a...

Improving Employee Performance with the Right Incentives

Retaining key employees is central to the success of any business. Keeping qualified and hard-working staff onboard can result in greater customer satisfaction, more efficient administration, and improved profitability. Offering...

Executive Benefits: Carving Your Way to Success

For many firms, group term life insurance is a popular employee benefit because it is relatively inexpensive. This is especially the case when a practice has younger, lower-paid employees. In addition to low cost, the premiums for $50...

Building Smarter Homes

With a rapidly evolving series of technological innovations making it easier than ever for people to communicate, shop, and find information, the demand for using digital connectivity to remotely control and automate routine tasks...

The Ins and Outs of Hiring Temporary Workers

Recruiting temporary workers can be a flexible alternative to hiring permanent employees, especially when your company’s workload varies according to season or market conditions. But before hiring temporary staff, it is important...

Congratulations, Graduates! What are your next steps, financially?

Spring is here, summer weather has begun (in many places), and graduation time has arrived. Across the country, students are finishing their high school, college, and even graduate school lives, after years of hard work, stress,...

Spring Cleaning Your Investments

Everyone needs to clean-up their financial clutter at least once a year Spring is traditionally the time to clean the garage and to get the yard in shape. It’s also a great time to clean up your investment portfolio. Spring is a...

Should you insure that trip or TV? Here’s what an economist would do

You can buy insurance for practically anything these days. Planning a vacation to France? Your airline, travel agent or even hotel will likely offer trip insurance in case you need to change your dates or cancel. Going to the casino?...

Disability Insurance—An Ounce of Prevention

Just think for a minute. What would you do if you suddenly became ill or injured and lost your income-earning ability? How would you pay your bills and daily expenses? For most of us, this is not an everyday concern. We get up in the...

If Home is “Where You Hang Your Hat,” Where’s Your Domicile?

Many people are confused about the differences in the terms domicile, statutory residence, and residence. However, the distinction can be important. This is because your choice of domicile can have serious ramifications for your estate...

Effective Cost Management Builds a Solid Foundation

From the smallest proprietorship to the largest international conglomerate, arbitrarily cutting costs can be a “quick fix” for improving the bottom line in a challenging economic climate. However, some cost management...

Business Owners: Disability Income Protection

The majority of business owners have life insurance that protects their beneficiaries against the financial impact of premature death. They also insure their homes, cars, and other personal possessions against financial loss resulting...

Extending Benefits for Key Employees with Long Term Care Insurance

Whether you run a small, family-owned business or a large corporation, attracting and retaining key employees is challenging. In addition to a competitive salary, many companies offer an array of core benefits, including a qualified...

Investment Decision Making in a Volatile Market

You have just turned on the morning news, poured a second cup of coffee, and are wondering what effect the market will have on your investment portfolio today. Many investors share your concern because they also may have a substantial...

How to Handle a Retirement Shortfall

Saving for retirement in today's economy can be a monumental challenge. This is especially true if you've just finished paying for your children's college education. But, you can control your financial future by identifying your...

How to Use Fire Extinguishers

There are several precautions every household should take to protect against fire. Your first line of defense is to install smoke alarms, which should be located on each floor of your home. Secondly, your home should be equipped with...

Dealing with Life’s Transitional Moments

Everyone needs to determine their financial staying power Some life transitions, such as a career change or marriage, are planned, but a job loss or divorce can be sudden and unexpected. One common thread that accompanies all...

What to Know About Tax Audits: Remember, keep good records and consult a professional

For most taxpayers, the words "tax audit" can produce any number of unpleasant bodily sensations including dryness in the throat, sweaty palms, a racing pulse or hyperventilation. There are probably few word combinations that can have...

Disability Income Protection—Are Your Bases Covered?

Like most people, you may have life insurance to help protect your family against the financial impact of your unexpected death. You also insure your home, car, and other personal possessions against financial loss resulting from fire,...

How Trusts Can Benefit You and Your Family

Many people perceive trusts as a complex subject better left to their attorney. As a matter of fact, they often think trusts are available only to the wealthy. However, when stripped of all the “bells and whistles,” a trust...

Employees Value Usability Over Cost The usability of your benefits platform is more important, not

When human resources professionals are choosing among benefits administration technology platforms, price is less important than ease of use and the extent to which the technology can be integrated with HR information systems, a survey...

Driving Business to Your Website with Pay-per-Click Advertising

When people are looking to buy a product or use a service, they often begin their search not by visiting a store or opening the Yellow Pages, but by logging on to Google, Yahoo, MSN, BING or another online search engine. Increasingly,...

Family Business—Laying the Groundwork for Success

Is your growing business still a one-person operation? As your company continues to grow and the workload increases, it is easy to find yourself wearing too many hats and not having enough hours in the day to accomplish everything that...

Employee Life Insurance May Hold the “Key”

If your key employee significantly contributes to the success of your business, have you considered how losing such an employee could impact your operations? Key employee life insurance can help protect your business from the financial...

Boost Your Retirement with IRAs and 401(k)s Remember, early planning puts time on your side

Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it. Let’s look at Individual Retirement Accounts (IRAs) and 401(k) plans, which offer tax benefits that can help you...

Homeowners Insurance: Weathering a Storm

Every so often, you see it on TV, hear it on the radio, or read about it in the newspaper. Somewhere in the country, a hurricane, tornado, or blizzard leaves behind a trail of widespread damage. Sometimes, weather-related damage to...

Financial Strategies: Planning Your Future

Creating a financial strategy is like planning a vacation. First, you need to take care of the mundane details, including shopping for hotel accommodations and plane fares, as well as preparing your itinerary. While these tasks may be...

What If You Can’t Pay the IRS on Time?

It is possible that you could owe the government taxes on April 16th which you cannot pay. What should you do when you discover you owe the government more than you can possibly pay by the due date? It is advisable to file your tax...

Spring Cleaning Your Investments

Everyone needs to clean-up their financial clutter at least once a year. Spring is traditionally the time to clean the garage and to get the yard in shape. It’s also a great time to clean up your investment portfolio. Going into...

Increase Holdings with Automatic Reinvesting

Dividend reinvestment plans (DRIPs) allow automatic investment of stock or mutual fund dividends for the purpose of gaining more shares, sometimes at a 5% discount and, in many cases, without added fees. DRIPs are a form of dollar cost...

Disability Income Insurance—Solidifying Your Future

Have you ever contemplated the ramifications of an unexpected illness or accident? How would you pay your bills and daily expenses? One way to help protect you against the loss of income that would likely result from a disability is to...

Filling in the Picture about Your Financial and Personal Affairs

Many parents may not fully appreciate how important it is to inform their grown children about their financial and personal affairs. In the event of a sudden death or catastrophic illness, it can benefit you to have adult children who...

Asking Family or Friends to Invest in Your Business

Entrepreneurs who are starting a new business or expanding an established business are often advised to look to family members or friends when seeking financing for their venture. After all, who is more likely to have confidence in...

Estate Planning Challenges Facing S Corporations

Many small business owners choose Subchapter S as a business entity primarily due to liability and income tax considerations. However, such an election may often result in business continuation challenges in later years, when estate...

Digital Technologies Linked To Better Company Performance

Companies that extensively employ digital technologies perform better and are more efficient than companies that have not fully taken advantage of those technologies, according to the findings of a survey of senior information...

Know Your Pension Payout Options

Potential retirees are often familiar with the typical pension payout options that include the single life option, the joint and survivorship option, and the lump sum distribution. However, another strategy using life insurance offers...

Save Those Tax Records

How long should you hang on to all those income statements, receipts, and canceled checks? You know you need to keep some or maybe all of those papers—but, which ones and for how long? It is unnecessary to save every form and...

Home, Valuables, and Your Camcorder (or Cellphone)

Could you list and accurately value all your personal property from memory? If you needed to file an insurance claim, how would you prove your loss? The best way to protect yourself is to make a complete inventory of all your...

Identify Your Investment Personality

As an investor, you might find it helpful to determine your investment “personality”—that is, whether you’re conservative or aggressive. Let’s examine the characteristics of each and then you decide which...

Financial Record-Keeping Makes Sense

Every April, two things come to mind: 1) it’s finally spring, and 2) tax season is here again. When you put your income taxes together this year, you’ll probably file away a copy of your income tax return for your own...

Disability Income Insurance—Policy Considerations

What would happen if you lost your ability to earn an income? What would your life be like? Even though your income would abruptly stop, your living expenses would continue. The mortgage and car payments would be due—missing...

Guardianship for Your Children: A Look at the Issues

Selecting a guardian for your children is an extremely personal and important decision. While you certainly want to choose a trustworthy individual, you also need someone who understands the serious commitment involved in guardianship....

Long-Term Care: Better to be safe than sorry

As you enter your “golden years,” perhaps you imagine yourself traveling, visiting grandchildren, or pursuing a favorite hobby. Unfortunately, none of us can predict what the future may bring. But, according to the U.S....

Developing a Successful Business Plan

A well-crafted business plan can be a blueprint for success. This multifaceted tool is as important to established business owners looking to grow their companies as it is to budding entrepreneurs. A business plan defines your business...

Disability: Are Your Business Interests Protected?

What fate would your business suffer if you become disabled? Would your company’s finances be secure enough to meet your income needs temporarily or even permanently? Is it likely that business would decline dramatically in your...

Employee Bonuses: One Step Beyond

Today, many small business owners are finding it necessary to create unique compensation packages to attract and retain key employees. At the same time, more and more employees are taking charge of their financial futures and are...

Types of Tax Audits

While the purpose of all audits is to verify sources of income and validate deductions, exemptions, and credits, there are three basic types of IRS audits. A correspondence audit involves a request from the IRS that you mail back proof...

Keeping Track of Your Retirement Benefits

Every year, employees in some companies, enrolled in retirement plans, are surprised to find that the nest egg they were counting on for their later years is not as secure as they once believed. Most retirement plans are managed...

How to File an Insurance Claim

Insurance is like a security alarm system. You may sleep better knowing you have it, but you hope it will never be activated. If you have insurance, however, it is helpful to know how to properly file a claim. Under any insurance...

Financial Perspectives on the “Car Buying Experience”

Shopping for a vehicle may begin with the question, should I buy or should I lease? Depending on your answer, there may be a substantial difference in what you will get for what you can afford. In addition, if you decide to buy, rather...

The Tax Cuts and Jobs Act of 2017 is Law: The Detailed Provisions to Know

The Tax Cuts and Jobs Act, a measure that has been characterized as the first major reform of the Internal Revenue Code in 31 years, received final approval from the House and the Senate on December 20, and was signed into law by...

Dollar Cost Averaging: Creating Good Money Behavior

The increase in volatility to start 2018, coupled with the almost 9-year bull market run has caused many sophisticated investors to question when to buy and when to sell. So, it’s important to remember that there is a very simple...

Disability Income Insurance—A Partner When You’re in Need

Many families believe they have enough insurance coverage, but unfortunately, disability income protection is often left out of the planning strategy. Many people may give little thought to how they would handle financial...

CRTs: Doing Well by Doing Good

A charitable remainder trust (CRT) can be a highly effective financial and estate planning tool. It can allow you to: avoid capital gains taxes on highly appreciated assets; receive an income stream based on the full fair market value...

Developing a Cost-Effective Direct Mail Strategy

Even in this age of rapidly evolving communication technologies, direct mail remains one of the most effective—and affordable—channels for bringing in new customers and encouraging repeat business. Unlike sending out...

Disability Income Insurance: People at Work—Money at Work

Most business owners have life insurance to protect survivors against the financial impact of their premature deaths. They also insure their homes, cars, and other personal possessions against financial loss resulting from fire, theft,...

A Successful Cafeteria Plan Provides “Just Desserts”

For James Franklin, the owner of Franklin Electrix, Inc., an electronics manufacturing company in Omaha, NE, one of the answers to satisfying and retaining his valuable employees is to develop a flexible benefit plan. Commonly referred...

It’s Never Too Early

Does your retirement seem years and years away? Even so, while it may, you owe it to yourself to look ahead and begin giving thought to a time that may stretch over 20 or more years. Granted, time may be on your side. However, saving...

How Crime-Resistant Is Your Business?

Crime and violence are everywhere, especially on the news, in movies, on TV shows, and perhaps even has affected other businesses in your area. But, you may think crime will never find its way to your business. Unfortunately, crime is...

Financial Considerations for Single Women

If you’re divorced or separated, money management will become an important part of your life. While it may be true that money can’t buy or ensure happiness, your ability to manage your finances can play a large role in your...

How Life Insurance Policy Riders Work for You

There are a number of interesting and worthwhile riders that owners of life insurance should consider. Riders essentially allow policy owners to customize their policies to give themselves and their beneficiaries added protection if...

Assisted Living: A Welcome Alternative for Long-Term Care

There are far more options available for individuals in need of long-term care today than the nursing home of yesteryear. Assisted living facilities (ALFs), which are designed to provide privacy and autonomy, along with a sense of...

Consistent Estate Basis Reporting Rules

On March 4, 2016, the IRS issued proposed and temporary regulations regarding the basis of property acquired from a decedent. The purpose of the regulations is to ensure that a recipient's basis in certain property acquired from a...

Demand for Certain Types of Workers Continues to Grow

While only a small share of workers in the U.S. have experienced strong wage growth in recent years, the demand for this subset of workers appears to be intensifying, and employers may find it increasingly difficult to attract enough...

Business Survival Planning for the Sole Proprietor

If you’re a business owner, the thought may have crossed your mind: “What will happen to my business when I’m no longer here?” To answer this question, begin by examining the issues of a closely held business in...

Defined Benefit Plans: An Attractive Option for Small Businesses

Defined benefit pension plans may still be an attractive retirement benefit option for small employers. This is especially true for successful small business owners who have been too busy growing their businesses to plan for their...

Does the February 5th Drop Signal An Approaching Bear? Market corrections are not always bears

February 5, 2018 As everyone knows, stocks went into a dramatic spiral on Monday, February 5th, as the DJIA plummeted almost 1,600 points, which was the biggest point decline in history. But right before the market closed, buyers...

Tax Deductions for Donating Art

If you collect art, donating a painting, sculpture, or other object of fine art to a museum or a favorite charity can be a great way to share your passion with a wider audience, support your institution of choice, and get a break on...

Getting Up to Speed as Retirement Draws Near

As you approach retirement, many important decisions await you. If you have a qualified employer-sponsored retirement plan, whether it is a traditional pension or defined contribution plan, such as a 401(k), you will have to decide how...

Getting Down to “Business”: Managing Risks

Minimizing potential liability and its associated costs is one of the main objectives of a risk management and insurance program. Fortunately, some business risks are more easily reduced than others. For example, with respect to a...

Early Retirement Sounds Good...But is It?

Have you ever reviewed your pay stub and entertained thoughts of taking an early retirement? Suppose you are age 55 and could take home 60% of your pay if you were to retire now. If you are a high earner, it may seem that this amount...

Exercise Caution When Exercising Incentive Stock Options

Compared with other forms of compensation, incentive stock options (ISOs) can provide executives and other employees with substantial tax breaks. If held for a certain period of time, shares purchased as ISOs may escape all taxes other...

Dining with Dignity and Pleasure

As individuals age, it is common for their diets to change. They may no longer be able to tolerate fried or fatty foods, or they may develop lactose intolerance. They may have fewer teeth or less strength and energy for chewing certain...

Estate Planning: A Team Effort

Estate planning often involves a team consisting of an attorney, a financial professional, an insurance professional, and yourself. However, whether you are establishing a new estate plan or revising an existing one, only you can...

Delegate Your Way to Success

If you are like many small business owners, there may never seem to be enough hours in the day. Yet, once a company reaches a certain size, it can become increasingly difficult to rely solely on the efforts of one person alone to keep...

Business Succession: A Family Affair

A succession plan should take into account many factors, including: the age and health of the owner; the expected rate of growth of the business; and the ages, abilities, and interests of the owner’s spouse and children. The plan...

Consider Voluntary Benefits for Your Employees

Many successful businesses are increasing the use of voluntary benefit plans to assist employees in obtaining additional benefits on a group basis, at generally lower costs. The employer generally offers these plans at a discount, in...

When will the Dow Reach 100,000? A brief history of the DJIA along with some basic math

The Dow Jones Industrial Average closed at 25,075.13 on Thursday, January 4, 2018, marking the first time the DJIA closed above 25,000. Less than one year earlier, on Wednesday, January 25, 2017, the DJIA closed above the 20,000...

Some Worries Going into 2018: Perspectives from a Seasoned Financial Advisor

By most investors, 2017 was a year filled with great highlights. The stock market performed well above its historical average, unemployment hit record lows, interest rates remained modest and volatility was practically non-existent....

A Trust Primer

Many of us may perceive trusts as a complex subject better left to our attorney. However, a trust is simply a contract initiated by a grantor who agrees to transfer assets to a beneficiary, who then receives the assets as stipulated in...

Enhance Your IRA Minimum Distribution

For many, Individual Retirement Accounts (IRAs) are a key retirement savings vehicle, either at the onset of saving, or later, perhaps when a pension, profit-sharing, or 401(k) plan will, more than likely, be consolidated into an IRA....

A Helpful Overview Of All Your Digital Property and Digital Assets

Digital property (or digital assets) can be understood as any information about you or created by you that exists in digital form, either online or on an electronic storage device, including the information necessary to access the...

Domestic Partner Agreements--A Legal Leg to Stand on

There are many forms of personal relationships. Today, unmarried partnerships are a fact of life. If you are in an unmarried partnership, one important consideration is how you share financial assets and obligations. Married couples...

Hand in Hand: Dollar Cost Averaging and Diversification

When developing a balanced investment portfolio, choosing your investment strategy is a major consideration. Two common approaches are diversification and dollar cost averaging. Both are geared toward helping you create a solid...

Customizing Life Insurance with Policy Riders

When many people consider life insurance, the first thought that usually comes to mind is, “How much is enough?” However, there are other aspects of life insurance policies that can provide important benefits. For example,...

Grant Peace of Mind with a Financial Inventory

Suppose, during the middle of the workday, you receive an urgent phone call. It is the local hospital informing you that your elderly, widowed father has been the victim of a serious car accident and lies unconscious in the emergency...

Cultivating a "Small Business Edge"

Entrepreneurs may entertain thoughts of achieving success, inspired by those companies that seem to spring forth fully grown overnight. But, it is important for business owners to ask at the outset, “What is the best measure of...

Business Succession Planning: The Future is Now

When it comes to your business, hoping for the best won’t ensure its future. To illustrate the point, let’s take a look at the hypothetical case of John Wilson. John spent 30 years building an automotive tire sales giant,...

COBRA: Continuing Health Care Coverage after Employment Ceases

The Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) enacted health care continuation coverage requirements applicable to most employers with more than 20 employees. COBRA requires an employer who maintains a group health...

7 Ways to File Your Taxes for Free

Most do-it-yourself filers prepare their own taxes for one and only one reason: They want to save money. But tax software isn't cheap, and hidden costs can sometimes blindside you. You might be forced to upgrade to another product...

Crossing the Bridge to a Satisfying Retirement

One of the more important—and hopefully enjoyable—events you will face in life is retirement. After spending many years building your career, you have likely accumulated a comfortable nest egg. If you have reached a point...

Flying the “Friendly” Skies?

Whether you are flying for business or for pleasure, it is wise to remember that crime doesn’t stop at the airport terminal doors. If you find yourself flying through the “friendly” skies, you should consider taking...

Diagnosing Your Financial Condition

How healthy are you financially? To come up with a diagnosis, grab a notebook or turn on your computer and conduct a comprehensive financial assessment. Start with a breakdown of your net worth. On separate lines, list your assets....

Getting Mutual Fund Numbers to “Speak Your Language”

Most mutual fund investors are familiar with the different types of funds available, and how investing in a variety of funds can help create diversity in a portfolio. The funds themselves, along with independent rating services,...

Critical Care Issues for Unmarried Couples

As an unmarried couple, planning for your future care is critically important. Because many of the Federal benefits and safeguards granted to married couples may be unavailable to you, you must be proactive and fully prepared to ensure...

The New 2017 Tax Reform Bill Directly from the Committee on Ways and Means

Five days before Christmas, the Senate passed the "Tax Cuts and Jobs Act" by a party-line vote of 51 to 48, with Republican Senator McCain absent for medical reasons. No matter your political affiliation, almost everyone agrees that is...

Financial Care for Special Needs Children

Overview: Parents of a special needs child may have never-ending concerns about their child’s care. For instance, where will the child live should something happen to the parents? Who will care for the child, and from where will...

Creating Your Company’s Brand

As a small business entrepreneur, you want to shake things up a little bit, get your company’s name out there, and grow your business. In short, you’re ready to create your brand. For branding efforts to be successful, your...

Funding a Business Buyout—Listen to the Experts

The Colonial Furniture Co., a hypothetical company, VA, is a closely-held corporation whose corporate attorney, accountant, and insurance agent have developed an answer to the question “What would happen in the event of a...

Getting to the Bottom of Inherited IRAs

Naming a beneficiary for your traditional Individual Retirement Account (IRA) need not be a difficult task. Most people choose their spouse, if married, or another loved one. However, the rules governing the distribution of IRA assets...

Employee Bonuses: One Step Beyond

Today, many small business owners are finding it necessary to create unique compensation packages to attract and retain key employees. At the same time, more and more employees are taking charge of their financial futures and are...

Tax Audits: Know Your Rights

For many taxpayers, the words “tax audit” can produce feelings of panic. If you receive an audit notice from the IRS, hiring a tax professional to represent you may be an appropriate strategy. However, should you choose to...

Which Home Improvements May Benefit You?

When it comes to home improvements, it is important to consider which would be the most profitable in terms of resale value. Sometimes, it’s possible to get back all, or even more, of your investment. While some improvements,...

Tips for Shoveling Snow Safely

Clearing snow from driveways and walkways is an inevitable winter chore in many parts of the country. While snow removal can be aggravating, it is also physically demanding work that can lead to injury. Common shoveling-related...

Home Improvements: Filling the Gaps with Insurance

A lot of time and energy goes into adding a deck, a new bathroom, or that spare bedroom you’ve always wanted. You have to have patience in deciding on the new look you want, as well as in seeking out the right contractor or...

Debt Management--Getting a “Leg Up” on the Future

Having a strategy in place to manage your debt, whether from credit cards, a mortgage, student or car loans, may help improve your financial well-being, and get you on track to saving for your future. Here are a few tips to start...

Gauging Your Investments with Performance Benchmarks

One way to evaluate your investments objectively is to use industry-standard performance benchmarks. A benchmark is a market index or average that allows you to compare the performance of your stocks, bonds, or mutual funds against...

Consider Inflation When Assessing Your Insurance Coverage

When Cindy and Sean Baxter purchased their life insurance policies ten years ago, they based their coverage on their anticipated obligations and needs. They made policy decisions, taking into account the mortgage on their home,...

Estate Planning Fundamentals: A Glass Slipper for the Stroke of Midnight

We all know the story of Cinderella. When the clock struck midnight, her wishes, so it seemed, vanished. However, she had left behind a glass slipper. And, soon enough, all that she ever wanted came true. Are you living your own fairy...

Creating a Business Dress Code

What employees wear and how they present themselves to customers and shareholders influence not only the company reputation, but the culture within the organization. Employees who are appropriately dressed make a good impression on the...

Family Involvement Can Be Good Business

As a family business grows, the owner must ultimately consider how the business will prosper when he or she exits the company. With proper preparation, the new leadership transition can go smoothly. It will be important to determine...

Drafting An Effective Employee Handbook

It can be beneficial for all businesses, regardless of size, to draft and distribute an informative employee handbook. When used to communicate the policies, procedures, rules, and benefits of a business, a thoughtfully prepared and...

Divorce and Retirement Plan Proceeds

Divorce can be “taxing” enough, but need not be made more difficult by the mismanagement of the division of assets in a retirement plan. As more Americans participate in 401(k) plans and other defined contribution...

Gas Fireplace and Chimney Safety

Gas fireplaces can be a great addition to any home. In recent years they have gained in popularity because they are cleaner and more efficient than their wood-burning counterparts. There are some things you should know to ensure your...

A Reality Check for Holiday Spenders

During the holiday season, like many people, you're probably finding that in the process of spreading good cheer you've spent too much money. Along with needing to trim a few holiday-induced pounds, you may need to trim a few debts....

Build “Mental Muscles” to Fight Senility

Most of us think our aging brains are at the mercy of fate and genetics. But, scientists have a new theory of how the brain works that opens up wonderful new possibilities. The brain responds dramatically to how we treat it. Just as...

Black Friday and Cyber Monday 2017 Poised to Set New Sales Records Are the days of standing in line

We are bombarded with “special deals,” “doorbusters,” price cuts, and early store opening hours on Black Friday. And we’re urged to do our technology shopping on Cyber Monday. Afterwards, we see news...

Estate Planning Fundamentals: A Glass Slipper for the Stroke of Midnight

We all know the story of Cinderella. When the clock struck midnight, her wishes, so it seemed, vanished. However, she had left behind a glass slipper. And, soon enough, all that she ever wanted came true. Are you living your own fairy...

Cost-Effective Strategies for Greening Your Organization

Motivated by the desire to make the world a better place, operating in harmony with green principles should come naturally to not-for-profit groups. But, like all consumers of energy and materials, even well intentioned nonprofits can...

Does Your Company Have a Succession Plan?

After working hard over the years, you’ve finally built up a successful business. But, have you ensured the future of your business by developing a succession plan? If the answer is no, you are not alone. In fact, in many cases,...

Helping Part-Time Employees Feel Like They Belong

There are many reasons why your company may employ part-time workers, such as meeting seasonal workflow demands or retaining employees who no longer work full-time. Yet, because part-time employees are not present throughout the entire...

Taking Advantage of Business Travel and Entertainment Deductions

When entertaining clients or traveling on business, you may be eligible for Federal income tax deductions on a portion of your expenses that are not reimbursed by an employer. But the criteria for claiming and substantiating these...

Contribution Limits for Tax Year 2018: Cost-of-living adjustments for next year

The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for retirement-related items for tax year 2018. Detailed in Notice 2017-64, here are the excerpts directly from the IRS: Highlights...

Fire Safety Tips for Your Home

According to the U.S. Fire Administration, a division of the Federal Emergency Management Agency (FEMA), approximately 17,500 people are injured in fires each year and an overwhelming number of all fire-related deaths occur in the home...

Cutting the (Credit) Cards

Nowadays, it is not uncommon or difficult for credit card use to get out of hand. In fact, our society promotes credit card use through incentive programs, loyalty programs, promotions, and advertising. Consequently, consumers may find...

Fixed Annuities and Retirement

Securing adequate retirement income is a major concern for many Americans. Annuities that offer a guaranteed fixed rate of return and tax deferral on earnings, as well as income that can last for life, can be an appealing money...

Coming to Terms with Life Insurance Beneficiary Arrangements

In today’s rapidly changing financial world, it is easy to become lost in a sea of unfamiliar industry terminology. Life insurance is no exception. One area related to life insurance that can be especially confusing is the...

Estate Planning for Lifetime Partners

There have been some distinct changes in the American cultural and sociological landscape in recent decades. Among them is the increasing number of unmarried couples living together as lifetime partners. This trend has created estate...

Converting Cold Calls into New Clients

Even business owners who are experienced in sales may shiver when they hear the words “cold calling.” While contacting potential customers you have never met may feel intimidating, this sales technique can be an effective...

Disability-Proof Your Business

Business owners, who typically take great care to protect their businesses in the event of death, may, in fact, face a greater threat from disability. Along with addressing life insurance concerns through buy-sell agreements, business...

From "Golden Handcuffs" to a Golden Handshake

It’s common for businesses to court talented executives with a variety of perks, including signing bonuses, stock options, and nonqualified deferred compensation plans to supplement regular pensions and retirement savings. While...

The Aging Brain & Your Family Finances: Avoiding Senior Scams

Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents or grandparents. And with longer life come difficulties – and sometimes financial predators. We all know the major...

What Determines Your IRA’s Required Minimum Distribution Amount?

If you have savings in a traditional Individual Retirement Account (IRA), you must begin making withdrawals at age 70½. To calculate the amount of a required minimum distribution (RMD), you divide the IRA balance (as of December...

Gearing Up for the Golden Years

Will you have enough money for your retirement? This is a major concern facing many Americans, as retirement looms closer on their financial horizon. If you’re facing a retirement shortfall, you’re not alone. Many American...

Evaluating Your Homeowners Insurance

As a homeowner, you may be familiar with the protection your homeowners insurance policy offers for the structure of your home and its contents. However, you may be surprised to discover the extent to which a standard policy may...

Curb Your Runaway Expenses and Still Have Fun

In the ever-changing game of life, expenses are a constant. For most of us, the prices of everyday goods and services seem to have risen faster than our income. In some cases, it may be more than just costs that have risen; it may be...

An Aging Parent’s Guide to Long-Term Care

Remember when your children were little and they came down with the flu? You lovingly nursed them back to health. You nursed them through colds, the measles, and chicken pox. You kissed their boo-boos and bandaged their scraped knees....

Estate Planning for Intellectual Property

If you are an inventor, author, artist, or owner of a closely held business, you may have already taken steps to help protect your intellectual property rights. Certain types of intellectual property, such as business ideas, visual art...

Concentration Difficult In Open-Plan Offices

While open-plan offices are meant to encourage collaboration and contribute to a collegial workplace culture, the threats to productivity and worker peace of mind caused by open-plan layouts are greater than most companies realize,...

Disability Insurance: Know Your Options

Most business owners have life insurance to protect survivors against the financial impact of their premature deaths. They also insure their homes, cars, and other personal possessions against financial loss resulting from fire, theft,...

Focus on Nonqualified Deferred Compensation Plans

If certain executives are critical to the success of your business, providing them with a nonqualified deferred compensation (NQDC) plan could be an effective retention strategy. Such a plan represents an agreement whereby one person...

The Best Tax Tips Before Year End

Tax planning is more advantageous when done during the year and well in advance of year’s end. Opportunities exist for you to minimize tax liability, which will leave more income for you and/or your family. Generally, people put...

America's Changing Vision of Retirement

Retirement planning is a primary reason for long-term saving, and when people think about retirement, finances are often the focus. However, it is important to also look at the nonfinancial aspects of transitioning from the world of...

Employee Fraud: Costly Problem, Low Cost Solutions

Is your company susceptible to employee fraud? Small-to-mid-sized businesses may be especially vulnerable because they tend to place more trust in employees who have access to company assets, and they generally have fewer financial and...

Credit Card Errors: "Writing" a Wrong

If you were to discover a billing error on your credit card statement, the first thing you would probably do is call to notify the creditor. But, to avoid having to pay the maximum $50 liability (in the case of a stolen or lost card),...

Financial Strategies and Life Cycle Planning

The best saving and investing habits pay off throughout life. Yet, with age, it is probable that your specific, financial goals are likely to change. Life cycle planning identifies both common goals and investment strategies for the...

Signs You Need a Financial Planner -- Financial Planners Help Build Better Experiences

Sometimes it’s hard to tell if you need professional help for a problem or if you can handle it yourself. Whether it’s taking care of a common cold, fixing the sink, changing the oil in your car or doing your own taxes. The...

Broaden Your Family's Life Insurance Protection

In today’s fast-paced world, many families find themselves caught up in a whirlwind of activity, juggling work responsibilities with family obligations and recreational pursuits. With so much going on, it’s easy to take the...

Estate Planning for Everyone

Have you every wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here’s a quick look at some steps you should...

Aging Parents and Money

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully. When you hit a certain age of your life, you...

Questions to Ask A Prospective Financial Advisor (But Make Sure You Really Listen to the Answer)

If you are shopping for a financial advisor, you need a good checklist of questions to ask. What you are looking for is someone who handles clients like you, who can relate to you and who is financially astute. As you assess an advisor...

Disability and the American Business

Today’s business owner faces a myriad of potential crises. Materials are delayed. . .machines need repair. . .prices escalate. . .business plans need to be revamped. Successful business owners repeatedly hurdle these immediate...

Fringe Benefits a Key to Employee Satisfaction

For employers, attracting and retaining quality employees is one of the keys to a healthy, thriving business. The choice of fringe benefits a company offers can be an important factor in increasing and maintaining employee satisfaction...

Tax Advantages of Turning a Hobby into a Business

Many people dream of turning their passionate pursuit into a money-making venture. Creating a successful and profitable business is seldom easy, but the Federal government offers tax incentives to business owners that could make...

Focus on Your Retirement Now

Does your retirement seem years and years away? While it may feel this way, you owe it to yourself to look ahead and begin giving thought to a time in your life that may account for 20 or more "golden" years and may in fact, be closer...

Driving in Wet Weather

Each season brings with it changes to the road conditions that, in turn, affect the way we need to drive to remain safe. Driving in inclement weather is different from driving on dry pavement on a fine sunny day. Springtime often...

Credit Card Debt After the Death of a Loved One

After a loved one dies, who is responsible for his or her remaining credit card debt? This is a question you are unlikely to be thinking about in the days and weeks after the death, but it is one you will ultimately need to face. In...

Financial Partnering + IRAs: “Charity” Begins at Home!

For many of us, giving to family members on birthdays, certain holidays, and special occasions, such as a graduation or wedding, is something we accept and do willingly as part of family life. We usually don’t think of this type...

Beyond Term Insurance

Term insurance is typically purchased to protect a growing family from the catastrophic loss of its primary “breadwinner.” Lower initial premiums offer the flexibility to fit immediate needs. However, over time, a more...

Dividing Your Estate: A Practical Approach

When planning the division of your assets, you may believe in a policy of “share and share alike.” This is perhaps the easiest method to avoid conflicts or complaints of favoritism. But does equality necessarily equate with...

Computer Worms: Is Your Business Protected?

Similar to a virus, a worm is a malicious computer program that self-replicates and infects other machines through a computer network. One example of this is the Conficker worm that infected millions of computers back in 2007, and then...

Catch the Spirit: Start Your Own Business!

One of the cornerstones that helped build America is the opportunity for free enterprise. While successive generations of Americans have been following the spirit of their forefathers by building their own businesses, the recent and...

Employee Benefits: Retirement Plans and More

As an employer, you know that retirement benefits are an integral part of your employees’ overall compensation package. Offering a retirement plan can be beneficial for both you and your employees. It can demonstrate to valued...

Which Filing Status Makes Sense for Me

While choosing a tax filing status may seem straightforward, the decision to file as single, married, married filing separately, or head of a household can become surprisingly difficult, especially when taxpayers find themselves on the...

Early Retirement: Is it Still Viable?

Many people may plan to take an early retirement or circumstances out of their control may force them to make that decision. Either way, with life expectancies steadily increasing for Americans, it’s possible that an individual...

The Hack on Equifax

The Equifax Breach is Worse Than Imagined: What you need to do and why. A massive data breach at Equifax has compromised up to 143 million people's personal information. But this was not one of those data breaches that everyone is...

Does Your Insurance Coverage Still 'Fit'?

By: John Engler Friday, August 11, 2017 12:00 AM As the seasons come and go, many of us reach into our closets only to discover our clothes no longer fit or suit our current needs. If this has happened to you, you’re not alone....

Creating Your Own (Credit) History

By: John Engler Thursday, August 10, 2017 12:00 AM When credit cards first came into existence, they were something of a novelty. Little did the original issuers or users realize that credit cards would become such a vital part of...

Don’t Overlook Basic Investment Strategies

Many successful investors make systematic investing an integral part of their overall savings plan. One of the more popular systematic approaches to investing is dollar cost averaging, which is an elegantly simple investment technique....

Basic Facts of Life Insurance

Thinking of a future without ourselves in it, is not the most pleasant of thoughts. . .however, it is necessary to do so for the financial security of your family. Life insurance may provide you with the opportunity to bequeath money...

Your New Job and 401(k): Pay attention to the details

Land a great new job? Awesome. Now is the perfect time to think about your 401(k) and retirement plan, whether you had one before or not. Saving for retirement is important at all ages, so don’t let this opportunity fall to the...

'Count Your Blessings - And Determine How To Pass Them On'

“Holding onto anger is like drinking poison and expecting the other person to die.” - Gautama Buddha “Estate planning is like taking medicine and making everyone you love start to heal.” - Everplans Writer...

All You Need To Know About Eldercare Arrangements

It's never too early to think about how and where you want to live when you're older. How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work,...

Habits to Teach Our Kids - And for all adults to put into practice too

I was walking with a friend and his 6-year old daughter and we stopped by an ATM on the way to lunch. As my friend was getting some cash, I couldn’t help but notice the confused look on his 6-year old’s face. She was...

Compensation Strategies for Small Business Owners

Deciding how much to pay employees is an important part of your company’s competitive strategy. Paying workers too much may cut into profitability, but insufficient compensation can result in high turnover and poor morale....

Business Succession Planning: Is There Life After Death?

Consider this scenario: You’re part owner of a thriving small- to medium-sized business. You handle certain key responsibilities and rely on your partner to handle others. While your partner is away on business, the phone rings....

Family-Friendly Policies Help Retain Top Workers

Attracting and retaining top employees is a key issue for many companies in today’s marketplace. With cost control a high priority for employers across the nation, businesses can benefit from understanding the various...

Solid Gold: Good Records Pay Off

Good record keeping is a great way to help you save on your taxes. Keeping accurate records can help you utilize all the tax breaks you may be entitled to and provide support if you are questioned by the Internal Revenue Service (IRS)....

Be Honest With Yourself About Your Retirement Savings

You gingerly sit on the exam table as the doc listens to your heart, takes some blood and pronounces you well. When the doctor leaves, you hobble out with your very broken bone. As the weeks and months go by, the break gets worse. You...

All You Need to Know About Trusts

Simply put: A trust is a legal arrangement in which a certain amount of property or assets is held by a person or entity (e.g. a bank) for the benefit of one or more other people. Why Would You Create One? To maintain control of assets...

Coping with the Financial Challenges of Losing a Spouse

When you lose your spouse, evaluating your finances may take a back seat to more pressing concerns. But even amid the grief that accompanies the death of a loved one, it is important to assess your financial and legal situation to...

Dollar Cost Averaging Stands the Test of Time

Dollar cost averaging is a simple investment technique. You invest the same amount of money in shares of a particular stock or mutual fund, for example, each month (or other interval), whether the shares are up or down in price....

Building Homes Designed to Withstand Fires

As news reports of devastating fires that destroy or damage property and threaten lives become more frequent, Americans living in vulnerable areas of the country are becoming increasingly concerned about the fire-resistant properties...

Draft a Retirement Wish List for Your Financial Advisor

Before your first visit, most financial professionals will ask you to pull together a lot of paperwork. They'll want to see tax returns, retirement account statements, Social Security benefit statements and so on. But it's just as...

3 Financial Planning Steps

Organization, efficiency and discipline are the three primary steps of financial planning. Organization is knowing where your money comes and goes. An efficient portfolio means a better chance of profits, and discipline keeps you on...

6 Questions About 529 Plans: What parents need to know about saving for college

If you’re saving for your child’s higher education, you probably have a lot of questions besides “When did college get so incredibly expensive?” One popular savings tool that might puzzle you the most is the 529...

Assessing the Needs of an Aging Parent

Planning for the future needs of an aging parent can often be a sensitive and delicate task for adult children to undertake. Baby boomers who must balance the needs of their own children with concerns about their parent’s...

Estate Planning and Your Residence: When the Grass Really IS Greener!

The rules that govern each state’s estate taxes are not necessarily created equal. A person can live, do business, and own real estate in many different places, but legally have only one domicile—or permanent...

College Admissions: Making the Grade

College applicants are often faced with apprehension and, to some degree, fear about getting into the college of their choice. Often, attending the right college or university can make the difference between average earnings and great...

Realistic Tips To Help Keep Your Passwords & Digital Accounts Secure

Every week there’s a new digital scare. Target was hacked. Home Depot was hacked. LinkedIn was hacked. Cheating site Ashley Madison was hacked (which didn’t seem to garner much sympathy). All of these, and many more, put...

The Business Side of the 4th of July: Fireworks & Hot Dogs

As most middle-school age kids know, in the summer of 1776, representatives of the 13 colonies considered a resolution that would declare their independence from Great Britain. And on July 2nd of the same year, the Continental Congress...

4 Reasons to Accept a Buyout

Over the years, baby boomer clients and friends have asked me whether they should accept their employers’ buyout offers. Almost without exception, I encourage these folks to take the money and run. Many companies looking to...

Combating Job Stress Around the World

The United States isn’t alone in trying to come to terms with the problems of job stress and the impact it has on employee health and productivity. Many countries around the world are currently studying these concerns and...

10 Tips for Small Biz Owners

Small businesses owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their...

The Phone Call No One Wants

That horrible phone call comes: A loved one is in critical condition. Or has passed away. You are a mom, dad, son, daughter, wife, husband, brother, sister, dear friend. You must jump in and help. What now? Is there a well-organized...

Educating Employees About 401(k)s: Thoughts from a financial advisor

401(k) plans are the most popular employer-sponsored retirement plan in the United States. According to the most recent statistics provided by the U.S. Department of Labor, there are 638,390 defined contribution retirement plans in the...

Diversification: Blending Your Investment Ingredients

One of the biggest challenges facing today’s average investor is deciding how to allocate personal savings or retirement assets. Naturally, most individuals hope to create an investment portfolio that is consistent with their...

Financial Considerations for Choosing Your Retirement Haven

What will you look for as you approach your "golden" years? An affordable condo on the golf course with room for a visit from your grandchildren? Friends and family close by, or new "elder" friends living in close proximity? Excellent...

Which Home Improvements May Benefit You?

When it comes to home improvements, it is important to consider which would be the most profitable in terms of resale value. Sometimes, it’s possible to get back all, or even more, of your investment.

5 Ways to Protect Your Home From Summer Storms

This is the perfect time to take steps to protect your home from summer storms and other weather damage. Hurricane season runs from June to November, and it's also prime time for tornadoes, other wind and rainstorms, and lightning strik

Control Your Runaway Expenses and Still Have Fun

When planning to get married, costs seem to be a constant consideration. For most of us, the prices of many things seem to have risen ahead of our income. In some cases, it may be more than costs that have risen; it may be our consumpt

Assessing a Home Health Care Agency

Being cared for at home may be an ideal situation for many seniors who need assistance with the activities of daily living (ADLs). To remain in a familiar environment, surrounded by the comforts of home, may provide psychological benef

Don't Be Surprised...Get Appraised!

Most of us would be surprised at the total amount of money we have "invested" in personal belongings. Yet, how many of us have taken the steps to ensure all our tangible assets are properly valued? Having a thorough appraisal made b

Identity Theft: Be Prepared. Be Proactive. What you can do to prevent.

The 2017 Identity Fraud Study, released by Javelin Strategy & Research, found that $16 billion was stolen from 15.4 million U.S. consumers in 2016. In the past six years, identity thieves have stolen over $107 billion.

Is Your Student Budget-Wise?

Your child may soon be ready to take his or her first step on the journey toward independence: college enrollment. Cautionary words about life away from home have all been spoken. However, one area that many parents may overlook or hesitate

Checking the Credit Scores of Job Candidates

Bringing the right employees on board can make or break your business. While most of the people you are likely to hire are honest and motivated to succeed in the job, some employees lack a proper work ethic and may even steal from the compa

Can You Afford to Pass Up Key Person Insurance?

Just as many of us may tend to avoid contemplating the loss of those we depend on every day, business owners may often avoid preparing for the death of key employees. Yet, consider for a moment how such a sudden and unexpected event co

Do You Understand Your Retirement Responsibility?

Today’s workers are increasingly responsible for their own retirement planning. In the past, employees often relied on their employers to provide pension benefits. However, as companies became faced with ever larger pension liabilities, the

Pop Quiz! - Tax Planning Basics

Q: What’s the difference between a tax credit and a tax deduction?A: A tax credit reduces your tax dollar for dollar—that is, a $1,000 tax credit actually saves you $1,000 in taxes. 

10 Things You Must Know About Medicare

Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To help yo

So, How Much Does It Really Cost to Own a Home?

Housing costs have soared over the years. And, while owning your own home may still be the American dream, many people are considering whether it would be less expensive to rent. There are four key elements to making that decision. 

Do You Need Rental Car Insurance?

The cost of rental car insurance continues to increase each year. While, understandably, you may feel compelled to decline this coverage from the rental car agency, make sure you consider the following points first.

Business Loans to Children: What Parents Should Know

Have you ever considered bankrolling your adult child’s business? Many young entrepreneurs seek parental assistance in launching their companies, especially if they encounter difficulty securing bank loans due to a lack of credit hist

Diversification is the Key to Successful Investing

More than ever, it is time to consider ways of keeping your investments divided between many alternatives. Money managers try to accomplish this by choosing a set of financial assets with performances that tend to offset one another as mark

Examining Robo-Advisors: What real investors need to know

Robo-advisors are getting lots of accolades lately as the noble purveyors of inexpensive financial advice for the average person. And traditional advisors, the thinking goes, supposedly ignore that average person. Nonsense.

Are We In Another Housing Bubble? What should investors worry about?

Across the country, at backyard barbecues, sporting events and in restaurants, the conversation goes something like this:“The Johnsons paid how much for their new house? That’s crazy. They way overpaid. How can they afford that?

Reasons to Fire Your Advisor: Top Ten Reasons to Move On

Starting to doubt your financial advisor? Too often people hand money to an advisor without a shred of research. Here are ten warning signs that you possibly need to move on.

Another Perspective of Long Term Care

What do you think of when you hear the words long-term care (LTC)? If you are like most people, the first image that comes to mind is a bedridden, elderly individual who requires constant care, along with various medical treatments and

Dividing the Family Pie: Are Equal Slices Best?

While it has been said that life is not always fair, perhaps a more apt description would be that life is unequal in how it spreads the wealth. That same inequality may carry over into your family, with children of different ages,

Currency Markets, BitCoins and Perspective - What Investors Should Think About

If I asked you to tell me about the New York Stock Exchange, I bet you could come up with a pretty good definition. And I bet you could give me a pretty good overview of other stock exchanges, including NASDAQ, the London Stock Exchang

The National Debt - Is it a problem, a necessity, both or neither?

During the last presidential election, there was a lot of talk about the national debt spiraling out of control. Then-candidate Trump suggested that the national debt could be paid off completely in 8 years, although he said that would

Higher Education Scholarships and Aid - Are They Taxable?

Often, the deciding factor between enrolling in one educational institution or another is the amount of aid or scholarship money you will receive. However, there is another factor to be considered, and that is—how much of the aid or s

Charting Your Future: Small Business Lessons from Good to Great

The best-selling book, Good to Great: Why Some Companies Make the Leap. . .and Others Don’t, offers surprising insights into the success of “great” companies that consistently and significantly beat average marke

Business Succession Considerations for Small Business Owners

There comes a point in time when almost every small business owner contemplates the future of his or her business. Because “the business” typically is a substantial asset, an owner must address a number of estate planning issues

Designing an Employee Benefit Plan

When you begin to create an employee benefit plan, you may want to start with a few core benefits, including life insurance, health insurance, and a retirement plan. These benefits form a base from which your company’s benefit plan ca

Reporting Tips as Taxable Income

Those employed in industries in which tipping is common may not know that the IRS views tips as potentially taxable income. Regardless of whether you are a restaurant server, a hairdresser, or a cab driver, all tips you receive, including n

Conservation Means Personal Savings

Americans have re-learned that there is a delicate balance between Western economies and the oil-producing countries. While the Middle East crisis has significantly affected the price of oil, we tend to forget that energy conservation and u

Annual Reviews for Long-Term Care Insurance

Once a year, it’s critical to review your existing long term care (LTC) insurance plan in order to analyze Federal legislation that may impact the tax treatment of your premiums and assess any changes in your personal f

Easing Into Retirement

For many people, crossing the bridge into retirement is a big step. If you’re approaching retirement, it’s time to develop a strategy to facilitate a smooth transition from the more structured world of work to one of leisure.

Strategies to Sell Your Home

When you sell a home on your own, there is more required than just putting up a curbside sign and waiting for buyers to come to your door with money in hand. However, doing a little “homework” and gathering all the facts can hel

Disciplined Savings can Go a Long Way

Many successful mutual fund investors make systematic investing an integral part of their overall savings plan. One of the more popular systematic approaches to investing is dollar cost averaging, which is an e

Retirement Planning: Investing in Your Health

When people plan for retirement, most think about the stock market, potential returns, and occasionally what their future retirement expenses might look like. And while it’s pretty easy to calculate future expenses for most retirement

Community Property and Life Insurance

Anyone familiar with estate planning can attest to the confusion that community property rules often cause married couples. For those married individuals either living in, or considering moving to, one of the community property jurisdiction

Minimize College Expenses Creatively

Imagine your reaction to the following scene: You return home from work one night to find your teenage daughter happily running about with a letter in her hand. When you calm her down, she tells you she has just been accepted to the incomin

Child Care Needs - Not Just a Family Affair

Family responsibilities still exist when working parents leave home and head for work. Child care, in particular, is a workplace concern that could affect an employer’s bottom line if employees are unable to find reliable care for the

Calculating Your Break-Even Point

Regardless of their specialties, all business owners have a common goal—profitability. But before you can turn a profit, you first have to break even. Spending more money than you are taking in to produce a product or provide a servic

Deferred Compensation: Reward Executives Today - Pay Later

It’s hard for small businesses to stay competitive today. Competition for the best and the brightest employees, even in tough economies, is always challenging, particularly when compensation funds are limited. A deferred compensa

Saving Your Tax Documentation

After every tax season, you probably file away a copy of your income tax return for your own records. You’ve probably wondered, “How long should I keep these records?”

Early Retirement: Is It in Your Future?

An early retirement is usually on everyone’s “wish list.” A relaxing lifestyle in a warmer climate, or the pursuit of a hobby or personal interest typically characterizes the vision of what retirement is all about. Unfortu

Rent or Own: You Decide

If you’re considering whether or not to buy your first home, it can be an exciting and time-consuming process. For many, the purchase of a home is the largest purchase they will ever make. Therefore, it’s not a decision to be ta

Disaster Preparedness: Protecting Your Family and Your Property

How would you react if the news came that a hurricane, tornado, or fire was heading in your direction? Would you scramble to protect your home and family, uncertain of where to begin? Or, would you calmly pull out a detailed plan for such e

Cleaning Tips for Your Financial House

Is your financial house in order? Take the time to spruce it up. Here is a Top Ten list to make the task orderly and worthwhile.

Determining your 401(k) Strategy

Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like everyone you’re hoping that your holdings will increase in valu

A Short Course in Insurance: Term vs. Permanent

When choosing life insurance coverage, you may wonder which type is more appropriate for your situation. During life stages, you will probably review and update your insurance coverage, as your needs change. There are two basic ty

Dealing with Elder Care Issues

As Americans continue to live longer, many of today’s retirees are finding it necessary to help elderly parents or relatives manage their personal and financial affairs. Plans that may have proven satisfactory at age 65 often require

Funding 529 Plans with UGMA/UTMA Assets

Prior to the popularity of 529 plans, many people saving for their children’s education opted for either a Uniform Gifts to Minors Act (UGMA) account or a Uniform Transfers to Minors Act (UTMA) account, depending o

Charting Your Future--Assess Risk Now to Avoid Losing the Business Later

Dealing with risk is a routine part of being in business. Every day, companies assess whether a customer is creditworthy, whether to hire a particular candidate for an open position, or whether to deal with a new supplier. All three situati

Buy-Sell Agreements: Protecting Your Family's Future

When Marie Archer was diagnosed with a serious medical condition, the scare to her family and business associates extended beyond the expected concern for her health. Marie owns a small software design firm she built from scratch with her b

Deferred Compensation: How to Keep a Prized Employee from Jumping Ship

Bob Howe, owner of Polaris Equipment Corp. (PEC), couldn’t believe that it had already been ten years since Larry Keane came on board. Larry was, hands down, the company’s most successful salesperson. Bob knew that he would even

Investing Your Time vs. Spending Your Time: The same principles to investing your money apply

If I asked you how you spend your money, you could answer with a decent amount of precision (and maybe some embarrassment). But if I asked you how you invest your money, your answer would be very different – because spending money and

Divorce and Retirement Plan Proceeds

Divorce can be “taxing” enough, but need not be made more difficult by the mismanagement of the division of assets in a retirement plan. As more Americans participate in 401(k) plans and other defined contribution retirement pla

Preventing Your Home from Heating Up

Devastating home fires can be traced to a number of causes, such as cooking equipment, negligence, children at play, and cigarettes. However, fires originating in a home’s electrical distribution system are among the costliest in term

Dangers in the Home: Do You Know the Hidden Hazards?

Invisible. Tasteless. Odorless. Toxic. These are just a few features of potential hazards in your home. Lead, carbon monoxide, radon, asbestos, and mold can all be a danger to you and your family. Learning more about these hidden household

Checking Your Financial Pulse

Have you ever given much thought as to what the consequences could be if you did not go to the doctor for ten years? We all know that an annual check-up with a physician is important in maintaining proper health and physical fitness. Well,

Deciding on an IRA

There have been significant changes made in the way Americans save for retirement since the enactment of the Tax Reform Act of 1986. The rules for Individual Retirement Accounts (IRAs) now effectively exclude many individuals who have highe

An Introduction to Split-Dollar Life Insurance

Contrary to what you may think, split-dollar life insurance is not an insurance policy, at least not in the classic sense. It is a type of arrangement that allows two parties, typically an employer and an employee, to split life insurance p

Choosing Your Place of Domicile

Your domicile is your state of legal residence. It is your permanent home¾the place to which you ultimately intend to return when you are away. Domicile generally is not determined by the length of time spent in a s

Finding Financial Aid for Private Schools

Schools award financial aid on the basis of either need or merit. The need for financial aid is defined as the gap between the annual cost of attending a particular school and the amount a family can be expected to contribute

Building Your Own Management Team

Janet Jones was just named president of her family’s wholesale distribution company after working in the business for much of her young adulthood. After a long and successful career, her father, the company founder, plans to retire. A

A 'Curtain Call' for Your Company?

Have you ever wondered what would happen to your company if you died? You probably think, if disaster struck, your family could simply sell your company. But, to whom would your family sell it? And, even if a buyer existed, what if he or sh

Clearing the Air on 401(k) Hardship Withdrawals

When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan. The Internal Revenue Service (IRS) doe

Justifying Late Tax Return Filings

The Internal Revenue Service (IRS) accepts the following reasons for failure to file tax returns  on time:

Crossing the Bridge into Retirement

It’s fairly common for discussions of retirement planning to focus solely on the financial aspects of securing a comfortable retirement. But, few individuals may take the time to consider the nonfinancial issues of retiremen

Which Comes First: Saving for Retirement or College? It's a question fraught with emotions

If you are like most parents, you will wrestle with this question: which is more important – my own retirement or my child’s education? And as you think about that question, you’ll be flooded with a lot of emotion. Shouldn

Cover Your Bases with Asset Allocation

For many people, investing may begin with one stock (or bond or mutual fund) selection. Over time, other selections may be added because most people understand that it is not prudent to invest everything in a single

Prepay Your Mortgage: Save Interest

Is reducing the length of your mortgage loan by accelerating your mortgage payments the right decision for you? Prepayment can save you money, particularly if you plan to reside in your home throughout the life of your loan.

Create a Fire Escape Plan For Your Family

According to the National Fire Protection Association “fire can spread rapidly through your home, leaving you as little as two minutes to escape safely once the alarm sounds.

Byte-by-Byte to Financial Success

For a small out-of-pocket expense, personal software will balance your checkbook, figure your budget and help take the sting out of tax day. But there are drawbacks—what you put in determines what the computer puts out.

2017 Retirement Account Limits: How much can you contribute this year?

In 2017, you have another chance to max out your retirement accounts. Here is a rundown of yearly contribution limits for the popular retirement savings vehicles.

An Eye on Disability

Most individuals, recognizing the risk of premature death, have life insurance to help provide financial protection for their survivors. Similarly, most people insure their homes, cars, and other property against the risk of loss

Choosing Your Executor Requires Careful Consideration

Settling an estate is no easy matter. Therefore, before you rush to select your executor, it is important to gain a basic understanding of the general duties of an executor.

Final Exam Time for Financial Aid

If one or more of your children will reach college age soon, you may be wondering how you will pay all the costs.

Building the Value of Your Business

Caught up in the day-to-day operations of your business, you may not be thinking about how much your company could be worth when the time comes for a transition. But the choices you make now, both large and small, can add to or detract from

Divorce - The Retirement Killer: Worse for baby boomers and more worse for women

It’s an unfortunate statistic that everyone knows – more than 50% of marriages will end in divorce. But it’s also a statistic that has lost its impact. So, let’s try another tact.

Business Planning for Continuity: 'Life After Death'

For the owner of an interest in a small- to medium-sized business, such as a proprietorship, partnership, or corporation, the problem of an untimely death cannot be underscored too markedly.

Choosing the Right Retirement Plan for Your Business

You’re an entrepreneur and you’re not looking back. You’ve opened your own business, whether alone or with partners, and you’ve achieved success. Now you’re thinking about retirement, not just for you, but also

IRS Problems: Not as 'Taxing' as You Think

For most people, there are few problems as “taxing” as tax problems with the Internal Revenue Service (IRS). Indeed, it can raise the blood pressure of even those with the most laid-back personalities. But, don’t despair.

Clearing the Path to Retirement

Today, more than ever, planning for retirement is a necessity. The combination of Social Security and company retirement benefits are often insufficient to provide the necessary income to enjoy a comfortable retirement. That’s why it&

Preparing for the Worst: Disaster Planning

Given the daily responsibilities of running a business, planning for an event that may or may not happen may not seem to be a priority. But by preparing for a major disaster, your company will be in a better position to cope with more commo

Conduct a Homeowners Insurance Check-Up

When was the last time you evaluated your homeowners insurance? Have your needs changed since you initially purchased your homeowners policy? If so, there may be gaps in your insurance coverage.

Buying a Boat and Staying Afloat

Is owning a boat on your horizon? Do you see yourself paddling a canoe? Piloting a motorboat? Helming a sailboat? Of course, it will be easier and more affordable to pop a canoe on top of your car than to maintain a moored boat in a popular

Compounding. . .can be in Your Best “Interest”

The term “compound rate of interest” is frequently encountered in discussions of investment performance. Compounding, or the earning of interest on interest, is simply a method of making an investment return on a retur

An Active Life is a Healthy Life

A healthy lifestyle fosters human excellence. It is an integration of the mind, body, and spirit that enables us to continually uncover our potential and strive to achieve all of which we are capable.

Choosing Your Estate Executor

One of the most important decisions you must make when planning your estate is selecting an executor.

Education: One of the Best Investments You Can Make

It wasn’t long ago when an individual went to college, got an education, and embarked on one career that usually lasted a lifetime. Many companies provided on-the-job training, and little emphasis was put on the idea of going back to

Building Financial Security with Family Limited Partnerships

When considering the “Big Three” financial components of financial security: asset protection, tax savings, and estate planning, business owners need to successfully plan ahead. Regarding your business interests and potential ta

Cafeteria Plans Provide Choice and Selection

While expansive benefits are a great draw for hiring and retaining valuable employees, the plan you offer must also be economical and easy to manage. Sound impossible? A cafeteria plan may be the answer.

How Much Tax Should I Have Withheld?

Each time you start a new job, your employer will give you a Form W-4 to complete that determines the amount of Federal income tax that is withheld from each paycheck. While many people prefer to have too much tax taken out so they can look

Choosing Your Pension Payout Option

Many couples may find themselves confronted with a dilemma as retirement nears. If you plan to receive your pension payout on a monthly basis (rather than in a lump sum), you must decide whether you want to receive a higher paymen

Mortgage Financing: A Q&A

When considering mortgage financing, it is important to look at three key issues—the rate structure, the loan term, and the tradeoffs in paying points.

Computer Security: Breaking the Code

Security breaches on computer networks are an increasingly serious problem for business owners. Hackers, computer viruses, and fraud may wreak havoc that could be financially devastating. Such losses associated with computer break-ins could

Building Your Child's Financial Foundation

It is important to start as early as possible helping children understand the value of money and the responsibilities that go with it. By gradually introducing your child to financial matters, you will provide the opportunity to become invo

Composing Your Financial Symphony

Any classical music composer will tell you that creating a symphony requires a delicate balance of sounds, melodies, and harmonies. Each instrument creates unique sounds and vibrations that, when heard alone, may not be particularly compell

A Short Course in Whole Life and Term Life

When faced with the wide range of life insurance coverage available, you may wonder what type fits your needs now and what coverage you should consider for future needs. A good first step is to look at two basi

Can a Living Trust Replace Your Will?

When planning your estate, you may consider setting up a revocable living trust. A properly managed revocable living trust can provide unique benefits; however, it does not completely replace a will. In determining whether th

E-Learning: Women Doing the Virtually Impossible

Women often struggle to balance their personal and professional lives. You may be juggling parenting and domestic responsibilities with a full-time career, as well as caring for aging parents. Finding the extra time to pursue an education o

Building Better Teams

While many businesses seek to encourage “teamwork” among employees, individual contributors who perform specific tasks may lose sight of the value of cooperating closely with co-workers. If teamwork is not occurring spontaneousl

Business Owners: Disability Income Protection

The majority of business owners have life insurance that protects their beneficiaries against the financial impact of premature death. They also insure their homes, cars, and other personal possessions against financial loss resul

Business Forum: Attracting Key Employees

Whether you are the head of a small, family-owned business or a large corporation, finding the right employees is becoming more and more challenging. Nowadays, it’s not uncommon for several businesses to compete for the serv

Income Tax Filing: What You Should Know

The April 15th tax deadline always seems just around the corner. Preparing in advance to file your federal income tax return might help make a sometimes overwhelming process easier to tackle. Fortunately, the Internal Revenue Service (

Choosing Retirement Investments

Although your retirement date may still be many years off, it is never too early to start your preparation. Yet, many people may spend more time planning their annual vacations than they do planning for their retirement future. A retirement

Stock Market Highs & Your Retirement

Recently both the S&P 500 Index and the Dow Jones Industrial Average hit all-time highs. This comes less than six months after a furious 610-point drop in the Dow in the wake of the Brexit, the vote taken in U.K. where they decided to l

Making the Home Sales Process Go Smoothly

When you think about your retirement years, do you imagine living in a new home or community? Whatever your choice of retirement haven, you may wish to sell your current home. To facilitate the sales process, consider the following points:

Complete Your Collection with Insurance

If you’re a collector who has put years, and possibly a lifetime, into acquiring a collection, you could find it gone in an instant if a fire, theft, or other disaster occurs. Because these prized possessions may not be covered by you

Building a Strong Financial Foundation

Today, many people are concerned about saving for retirement or paying for a large ticket item, such as a child’s college education. If you belong to this group, now may be the time to organize your finances. It is never too

New Year's Financial Resolutions

For many people, the New Year is a time for personal reflection, a time to consider commitments and resolutions for the coming year. This year, why not resolve to make your finances a priority? With proper planning and appropriate guid

Alzheimer's Disease: Caring for Your Loved One

Alzheimer’s disease, the most common form of dementia, is generally diagnosed in people over 65 years old, causing memory loss, changes in mood and behavior, and the gradual inability to maintain independence in daily living activitie

Benefit Trade-Offs in Property Titling

A fairly common practice among married couples is the holding of most, if not all, of their property as tenants by the entirety. Quite often, couples are unaware of the alternative methods of titling, as well as some of the trade-offs

E-Learning Accommodates Busy Schedules

Many workers are trying to balance a fulfilling professional life against personal goals and family responsibilities, a juggling act that challenges the savviest time managers. In today’s hard-wired learning culture, a wide variety of

Building and Motivating a Sales Team

The success or failure of a business venture depends to a large extent upon the quality of its sales force. Without the right team of sales professionals to pitch your products and line up new customers, your company’s growth will lik

Business Owners and Executives; Don't Forget Personal Planning, Too

As a busy executive or business owner, you are, more than likely, in a personal financial and estate planning position that may be considerably different from other individuals. You probably have a compensation package containing a variety

Being Prepared for Potential Public Health Risks

In response to the possibility of public health risks, such as the outbreak of swine flu (H1N1 virus) in 2009, a number of U.S. government agencies, including the Centers for Disease Control (CDC), the Department of Health and Human Service

Get Your Tax Act Together

So, you've chosen a tax consultant. Here are a few ways to prepare for your upcoming meeting:Look over some popular tax guides or financial magazines. 

Build It from the Ground Up: A Blueprint for Retirement

A comfortable and worry-free retirement is the goal of many Americans. However, the biggest obstacle in attaining retirement goals is that people may tend to procrastinate and avoid thinking ahead to formulate a plan of action. As a result,

Is It Time to Refinance?

Over time, mortgage rates fluctuate. Depending on where rates currently stand, now may or may not be a good time for homeowners to consider refinancing their mortgage. How can you determine whether it makes sense at any given poin

Childcare at Work

Is your business experiencing a high absentee rate? Do your employees often come in late and leave early? Are workplace accidents becoming frequent? Do you have a hard time hiring reliable employees? Is productivity suffering? If these ques

Build Your Financial Foundation with Regular Reviews

Successful money management requires ongoing discipline. Each year, you should pull all your records together and take a close look at your entire financial picture. Here are six steps that can help you put your financial affairs in order:1

Alternative Sources of Income

Should you suffer a disability, you need to know where your income will come from. Would you have enough in savings to support yourself and your loved ones during a six-month disability? Do you know someone who would freely lend money to yo

Being Prepared for Future Care Possibilities

Do you ever think about the need for life-support systems should you become “terminally ill” or “permanently unconscious” due to the possibility of experiencing a future accident or illness? What decision would you w

Creative Solutions for Sticker Shock

Imagine your reaction to the following scene: You return home from work one night to find your teenage daughter running gleefully about with a letter in her hand. When you calm her down, she tells you that she has just been accepted to the

What Are Your Old Clothes Worth?

When you give four bags of old clothes to a charity, you may receive a receipt. But the value of those old clothes as a charitable tax deduction is left up to you to determine. How much is too much? The Internal Revenue Service (IRS) has tr

Building a Search Engine-Friendly Website

Creating an online presence that stands out from the countless websites jostling for space on search engine results can be a daunting challenge for small business owners. Unlike their big competitors, most smaller companies cannot afford a

Business Forum: The Personal Side of Your Business

Once upon a time there was a thriving business developed by an energetic, creative entrepreneur. He passed his business knowledge and enthusiasm on to his son, who continued to tend it well and even made it grow. The son grew older and his

Balancing the 'Menu' for Your Cafeteria Plan

An improving economy can present an unexpected challenge for many small businesses. A tighter skilled labor force often makes it difficult to attract and retain the kind of qualified employees companies need to remain competitive.Consider t

Free Tax Preparation

Did you know that a free, Federal income tax preparation and electronic filing program called Free File is available to U. S. taxpayers with adjusted gross incomes (AGIs) of $58,000 or less?

Baby Boomers - Confronting the Changing World of Retirement

The most chronicled generation in America is gradually entering retirement. Each wave of baby boomers will quickly discover if their retirement plans, Social Security, and personal savings will be sufficient to maintain their existing lifes

How Much Does It Really Cost to Own a Home?

Housing costs have soared over the years. And, while owning your own home may still represent the American dream, many people are unsure at what point it becomes less expensive to buy than rent. There are four key elements in making that de

Check the Health of Your Homeowners Insurance(1)

When was the last time you reviewed your homeowners insurance? For your financial well-being, it is important to make sure that costly coverage gaps have not developed since you purchased your homeowners policy. Here are some tips on how to

Becoming a Financially Savvy Single Parent

Raising children without a partner can be challenging—emotionally, physically, and financially. Challenged by the work involved in earning a living and caring for children, single parents can sometimes feel that they may never break t

Taxable vs. Tax-Exempt Bonds

When it comes to investing, decisions are generally made-up of two somewhat complex items—how much you’ll earn from the investment, and how much income tax you will pay on the investment earnings. Then, given an alternative, are

Aging in Place with Home Modifications

Most people would like to remain in their homes as they grow older. In order to make aging in place a reality, however, planning ahead to accommodate your individual needs is essential. There are a number of simple home modifications that w

Avoid Common Estate Planning Mistakes

Whether your estate plan is simple or complex, there are many details, which are often overlooked, that can undermine your plan’s effectiveness. Are you aware of these common estate planning mistakes?

College Students: Making the Grade with Personal Finances

One subject every student should master before heading off to college is how to manage his or her personal finances. Many students simply “spend as they go.” Unfortunately, if late night pizzas and long-distance telephone calls

Taking Charitable Giving to Another Level

Did you know that you can gift a new or existing life insurance policy to your favorite charity? When properly designed, a charitable life insurance program may improve your overall financial situation and offer tax benefits, all while supp

Bringing Democracy to the Workplace

When recruiting workers, employers strive to hire people who demonstrate not just the skills needed to do a job, but also poise, maturity, and a solid work ethic. Individual candidates may have specialized knowledge and abilities of signifi

Business Forum: Keeping Your Business High and Dry

Most businesses thrive on the ingenuity and dynamism of a few key people. In order to retain their best employees, business owners often devise attractive benefit packages that make it harder for the competition to lure away key employees.

Attracting High Quality Workers

Two changes in the business world, combined with the Family and Medical Leave Act (FMLA), have direct bearing on what it takes to attract and keep highly qualified employees.

Free Information and Help from the IRS

You have the right to information and assistance in complying with the U.S. tax laws. In addition to the basic instructions provided with tax forms, the Internal Revenue Service (IRS) makes a great deal of other information available.

Bequests Come in Multiple Forms

Your will is a formal, legal document instructing your survivors on the settlement of your estate. When detailing your wishes for asset distribution, it is important to understand the various types of bequests. A specific bequest is a gift

Going Back to Basics

Buying a house or condominium involves not only finding the right property, but also finding the right mortgage. Fortunately, the choices are less confusing than in the recent past. Since interest rates are significantly lower, the types of

Canine Concerns: Proper Insurance Coverage

If you are a dog owner, your pet may be your loyal friend and constant companion. However, if you are a homeowner, you should be aware that your dog could cause a few issues with your insurance coverage. Sometimes your dog’s breed can

Be Apprised...Get Appraised

In dealing with the unexpected, it's important to ensure that all your tangible assets are valued properly. Having a thorough appraisal will be beneficial in the following circumstances:

Asset Allocation: A Key to Portfolio Success(2)

For many people, investing typically begins with one stock or one bond or one mutual fund. Over time, other selections are added to manage the risk associated with investing everything in a single security. However, just “spreading mo

Adult Day Health Centers Benefit Older Adults and Their Caregivers

While many Baby Boomers have children who are either in college or approaching college age, they may also be facing the additional challenge of caring for their aging parents. With just so many hours in a day to meet professional and financ

Assisted Living: The New Kid on the Block

Over the past several years, owners of nursing homes have seen a steady decline in the occupancy rates of their facilities. There are a number of reasons for this drop. One significant reason is that the number of “home care agencies&

Bringing a New Parent Back On the Job

Losing experienced, hardworking employees can be costly for your business. So when one of your valued employees announces she is pregnant, do more than just congratulate her. You may want to consider encouraging her to return to work once t

Private Foundations: An Alternative to Charitable Giving

For many individuals with accumulated wealth, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often-substantial tax deduction, coupled with various estate planning benefits, can be

What Does President Trump Mean for Investors? How political parties affect the markets and the economy

Now that the 2016 presidential election is over and we can refer to Donald Trump as President Trump, it’s time to examine some additional questions. More specifically, how will President Trump affect markets and other economic measure

Business Continuity Solution: The Disability Buy-Out

Most business owners purchase life insurance to protect their families against the financial impact of their premature deaths. However, what would happen to both your personal income and the operation of your business should sudden disabili

Americans Increasingly Want Higher Wages in Lieu of Better Health Benefits

While most American workers say they are satisfied with the health insurance benefits they have now, there is a long-term trend toward wanting more cash compensation and less generous health benefits, according to a report published by the

For the Record: Keep Those Important Documents

Historically, The 1998 IRS Reform Act shifted the burden of proof from the taxpayer to the Internal Revenue Service (IRS) in certain situations. Does this mean that you can toss those records that have been taking up space in your office? H

Assessing Your Retirement Resources

How resourceful can you be during your retirement? Determining where your retirement money will come from is an integral part of planning for retirement. Most people draw on three main sources of income: Social Security, employer-sponsored

Frozen Pipes: A Preventable Nightmare

As temperatures plummet, pipes can freeze and cause serious problems for homeowners. Since water expands as it freezes, this can cause pipes to crack or burst. Pipes with inadequate insulation and ventilation can then freeze. Certain pipes,

Buying a New Home? Do Your "Homework"

Before you buy a new home, it pays to do some investigation to avoid taking on problems that may not be covered by your homeowners insurance. When contemplating the purchase of property, a home inspection is the first important step. A prof

Bargain Shopping Made Easy

Does it seem more challenging these days when you grocery shop or buy gifts for family and friends to stay within a budget? Would you like to adhere to your household budget without feeling deprived? If you answered “yes” to eit

Assessing Portfolio Risk

Most investors know that they should evaluate their risk tolerance when considering an investment. Oftentimes, investors think of risk only in terms of possibly losing money. However, in the investment world, risk is broadly defined as the

A Wise Policy: Stay Current

If you own long-term care insurance, be sure to review your policy every year. An annual review provides an opportunity for you to re-examine your coverage, analyze relevant federal legislation that may impact the tax treatment of your long

Controlling Health Care Costs in a Small Business

Description:Reducing health care costs is a high priority for many small-business owners, yet the decision to do so often forces them to make difficult decisions regarding the benefits they can offer to employees.

Resources to Help Those Caring for a Loved One at Home

Description:An overview of resources available to people caring for a family member or loved one at home.

Will Your Money Last? Risks to Retirement Income

Description:To be viable, a retirement income strategy needs to account for the effects of longevity, inflation, health care expenses, and the uncertain future of Social Security.

Should You Convert to a Roth IRA?

Description:Investors at any level of income can convert assets from a traditional IRA to a Roth IRA. This article explains the potential benefits and tax implications of a conversion.

Saving for a Large Purchase

Description:Saving for a large-screen television? A new car? A real estate down payment? This checklist can help you reach any savings goal. 

Appraising Your Appraiser

An appraiser assigns value to your property and potentially minimizes your exposure to certain risks, such as tax penalties. An inaccurate appraisal could hinder your ability to receive a fair price for property, increase the likelihood of

College Financial Aid: Do Your Homework

If one or more of your children will reach college age soon, you may be wondering how you will manage all the costs. For many families, a financial aid package provides some level of tuition support in the form of grants, scholarships, loan

Most Donors Make Small Charitable Gifts

The average donor household in the United States gives around $2,000 a year, with small donations making up the bulk of charitable gifts, according to a report prepared by the Center on Philanthropy for Indiana University.

Brainstorming to Solve Business Problems

Brainstorming, a technique for generating ideas through group interactions, has been used in business circles for decades. When used to address concrete, well-defined issues in a structured manner, brainstorming can be an effective way to t

Business Continuity and Long-Term Care Considerations

As a business owner, you know the importance of planning for your company’s future. To this end, you may have taken steps to learn about buy–sell agreements and the role that life insurance and disability income insurance can pl

Age-Based Contribution Plans - Fairness Joins Flexibility in Profit Sharing

Over time, Internal Revenue Service Code (the Code, or IRC) changes have allowed a clearer definition of the standards used to judge all qualified plans for nondiscrimination purposes. What does this mean for benefit planning?

"Fed" Watching-the Rise and Fall of the Economy

Today’s financial markets, economy, and  banking industry hang on the decisions made by Federal Reserve Chairman Alan Greenspan. The power to send markets soaring or diving is based on the chairman’s ability to raise or low

Being Realistic about Retirement

Nearly everyone has expectations and dreams about retirement. One dream being realized is that people are healthier and living longer, which allows them to enjoy retirement for a greater portion of their lives than ever before. In fact, it&

Buyer Beware: Flood Vehicle Fraud on the Rise

The number of natural disasters has increased at an alarming rate in recent years, devastating communities across the country. Floods, in particular, can cause excessive damage to property including vehicles, often rendering them inoperable

Baby Boomers and Their "Boomer-ang" Children

In recent years, many Baby Boomers have witnessed a growing trend: Their children are moving back home after graduating from college. In part, the return of the “boomerang” children to the nest may be due to the high cost of liv

Analyzing Investment Styles: Growth vs. Value

Growth or value—what’s your style? Growth investors look for stocks that will grow at a high rate for a relatively short period of time or mutual funds that focus on growth stock. Value investors look for stocks that are current

A Woman's Guide to Long-Term Care

Women face unique financial challenges as they age. When compared with men, women live longer, earn less, and spend fewer years in the workforce. Financial concerns are often more acute for older women who are divorced, widowed, or otherwis

Answers to Common Estate Planning Questions

A. A will is formal legal document directing the settlement of your estate that provides for the distributions of your assets according to your wishes. Without a will, the laws of your state will determine estate distribution. Qualified leg

Back to School Shopping List: Why Not A Yearly Retirement List?

Labor Day 2016 is in the books. The weather is starting to turn a little cooler, football returns and the kids are back in school.  For me, it’s always been the kids going back to school that really marked the end of summer. Gone

Budget Basics for College Students

One extracurricular activity that every student can master while in college is personal money management. Typically, a student’s daily spending is done on an improvised basis, meaning that overspending is often the norm rather than th

Potential Benefits of Lifetime Gifts

Many estate plans include a program of making lifetime gifts. So, is it sometimes better to distribute assets this way, rather than bequeath them in a will or trust?

Borrowing Responsibly and Managing Debt

All business owners prefer to operate in the black. But, taking on debt is sometimes necessary as a company expands or when business slows due to economic volatility. Managing your debt carefully can minimize the cost of carrying debt and m

Being Your Own Boss

Running a business out of your home can be a lifestyle shift, particularly if you share your space with family members or a roommate. It may not be as easy to leave work at the office when the office is at home. Having a designated office s

Advantages of Deferred Compensation as a Source of Retirement Income

Employee fringe benefits are considered an essential part of attracting and retaining key employees and executives. However, because the rules for qualified plans place a limitation on contributions to retirement plans, many employers look

Does Your Vehicle Donation Qualify as a Tax Deduction?

Donating a vehicle is a great way to benefit a charity and reduce your tax liabilities. As with most tax benefits, Internal Revenue Service (IRS) regulations apply. Following the rules can help ensure you receive a tax deduction for your go

Are You Planning an Early Retirement?

As your 62nd birthday approaches, the dream of early retirement may seem like a possibility. From that day on, you may qualify for Social Security retirement benefits. While you may be lured by monthly Social Security checks, seriously cons

Evaluating the Costs of Home Ownership

The question of whether to own or rent a home—depending on your personal situation—is usually answered by asking yourself two important questions: How much will it cost you? And, what is your possible return on the property as a

Business Owners Policy: Packaged for Convenience

Most businesses seek two major types of insurance coverage—property and liability. Property insurance covers damage to or loss of your business property, and liability insurance covers the cost of defending and settling a lawsuit as a

Asset Protection at a Glance

In this litigious society, where it is not uncommon for citizens to sue each other over the most trivial of issues, people are rightly concerned with becoming the target of a lawsuit. This is especially true for those whose jobs place them

Analyze P/E Ratios the Right Way

Here’s a pop quiz to test your investment smarts: Since 1870, the average price/earnings (P/E) ratio of stocks in the S&P 500 Index has been about 15.00. True or false?

A Realistic Approach to Long-Term Care

“An idealist believes the short run doesn’t count. A cynic believes the long run doesn’t matter. A realist believes that what is done or left undone in the short run determines the long run.”

An Irrevocable Life Insurance Trust Can Strengthen Your Business Estate Plan

Most estate planning professionals view the irrevocable life insurance trust (ILIT) as one of the most flexible and powerful tools they can put to work on behalf of their business clients. While the issue of where the life insurance trust f

Boy? Girl? Or Tuition Payment?

You just received the wonderful news that you and your spouse are going to become parents. Thoughts of the many adventures parenting will bring are swirling through your head. The last thing on your mind may be paying for college, but think

Leaving a Legacy

For millions of Americans, “charity begins at home.” Many have decided to make a difference by donating money to local religious, educational, social, or cultural organizations. In addition to the immense satisfaction that comes

Boosting Marketing with Technology

In order for your business to succeed, your marketing strategy must be consumer-friendly, present your products and services at their best, and keep pace with the changing times. As more and more businesses compete for internet sales, marke

Assuring Your Company's Survival

If you are like many business owners, you may tend to get caught up in the daily demands of your business, managing sales and production, costs, and the bottom line. However, when the pace slackens, are you ever nagged by thoughts of what w

Adding Value to Your Benefit Package with Long Term Care Insurance

Professionals who have worked hard and built up assets over the course of their careers may be particularly concerned that their savings could be affected by a long term care event. As the costs associated with long term care continue to ri

Claiming the Medical Expenses Tax Deduction

In a given year, relatively few Americans take advantage of the federal income tax deduction for unreimbursed medical expenses. But if an illness or hospitalization in the family has led to an abrupt rise in your out-of-pocket health care e

Are You Considering "Un-Retirement?"

The common term for retirement—the “golden years”— may no longer apply for those individuals who shun taking a conventional retirement due to an unpredictable economic climate. In the past, the idealized concept of r

Establishing Your Domicile

Increased mobility has changed the ways we live, work, and play. Compared to previous generations, it is now quite common for work and recreation to cross state lines, resulting in ownership of property and civic relationships in multiple s

Building a Company without Adequate Insurance: It's Risky Business

Since you never know when a disaster may strike causing severe damage and disruption to your business operations, it is important to expect the unexpected and manage your risks accordingly. For that reason, business insurance shou

Are You Living on Easy Street?

With today’s improving economy, you’re probably thinking less and less about your personal debts and spending habits. While debts may seem easier to pay off when times are good, don’t let yourself fall victim to this way o

America’s Financial Position and How It May Affect Your Investments

Historically, “bull and bear” markets occur with the almost automatic expansion and contraction of the economy. The events that turn a bull market into a bear market—and vice versa—are events that economists and mark

A Quick Look at Life Insurance Needs(1)

Have you ever wondered how much life insurance is “enough”? One general rule of thumb says that you should buy an amount equal to five to seven times your annual income. Sure, it may be a reasonable guideline, but this method do

Are Good Grades the Only Key to College Admissions?

If you were asked how best to prepare your child for college, you might say that a well-rounded high school curriculum would be a good start. It may be true that your child needs to be a good student to compete for admission to a college or

Alphabet Soup: ILITs and the GST

With Federal estate taxes designed to tax assets transferred from one estate to another, planning to preserve wealth for your children, grandchildren, and future generations can be challenging. In 2014, the Federal estate and gift tax rates

It's Your Money...Who Decides How Your Charitable $$ will be Spent?

When you give $100 to your favorite charity, you are probably not overly concerned about how your donation is spent, as long as it advances the mission of the charity. On the other hand, if you are making a large donation, it is more likely

Boosting Employee Performance with Ergonomics

Ergonomics is the science of fitting job tasks, equipment, tools, and the work environment to workers’ needs. By creating a more ergonomic work environment, businesses can not only reduce the chances that an employee will be injured o

Assessing Business Risks

Business insurance and risk management programs are designed to help reduce and control costs. In assessing the risk exposures particular to your business, consider what can go wrong and how such events might affect your business.

A SEP May Be the Ideal Choice

In today’s tight job market, employers large and small are in competition to attract and retain top employees with robust employee benefit packages. Many larger businesses find the best approach to meeting their employees’ retir

Claiming a Deduction for Your Home Office