Blog

At Mid-Year, Keep Your January 1st Pledges

Do you have a will, investing in education or building a Freedom Fund? Amid the heat of mid-summer, do you remember your New Year’s resolutions regarding your personal financial planning? How are you coming with your to-do list?...

The Tour de France & Capital Preservation Tips

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 factor in achieving ultimate success in your portfolio. Held every July, the...

Inheritance Planning Can Help Avoid Headaches

Your advisor can help ensure you leave your estate in the best possible way Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior...

The Fed’s Statement is Not Hawkish Nor Dovish

And with inflation and a looming debt ceiling fight, uncertainty is rampant The uncertainty that Washington policy makers foment is a big culprit in our economic stasis. What will happen next with the Federal Reserve’s decision...

Is it Finally Time to Adopt the 4-Day Workweek?

COVID changed minds about working from home, maybe this is next There is a storm raging between employers and employees that is unlikely to go away any time soon. On the one hand are employers, who hope to have their offices up and...

Three Sobering Thoughts Hurting Your Retirement

Stagnant wage growth, rising inflation and low interest rates are real issues The idea of retiring at age 65 with a gold watch and a fully-funded retirement account is a quaint notion for many Americans. Amid stagnating real wages,...

Summer of 2021, the Fed, Interest Rates & Me

Be prepared as rates will inevitably go up – whether that’s 2022 or 2023 A few days before the official start of summer on June 21st, Wall Street’s eyes and ears were on the Federal Reserve, and as expected, the FOMC...

Five Financial Mistakes You Should Avoid

These simple steps might save you a great deal of money and heartache We all make mistakes, and through them, we learn. But when it comes to finances, it is best not to take the trial-and-error approach. Maybe you’re making some...

Think Your New House is a Fantastic Investment?

Housing is rarely the best use of your money from an investment viewpoint Despite continued low mortgage rates and tales of bidding wars, multiple offers and all-cash closings above asking-price, would-be-home-purchasers should be...

Thinking of Buying a Used-Car Now? Think Again.

Used-car prices are up a staggering 29.7% over the past 12 months In the market for a used-car? Well, you might be in for some sticker shock based on the most recent Consumer Price Index report from the U.S. Bureau of Labor Statistics....

The Heat of Summer Means More Boating Days

Consider a safety course and make sure you adequately insure your vessel On bright and sunny summer days, the allure of the water can be irresistible. If you live near a lake, river, or ocean, boating trips may be the perfect getaway...

Time to Reassess Your Portfolio?

Market swings often prompt investors to reassess their portfolios. As you evaluate the efficacy of your investments in light of your financial goals, it’s important to revisit two key principles—asset allocation and...

Charitable Giving: Good for Your Heart and Your 1040!

It may be better to give than to receive, but it may be even better to give and see your generosity rewarded. Charitable giving can play a valuable role in your financial and tax strategies. A well-planned gift to charity could provide...

Annuities: Pros, Cons and a Huge Heap of Details

Annuities often get a bad rap as insurance products – and often rightly so Life insurance buys financial protection against your premature death. Here’s the how-to on another insurance that protects you from living too...

President Biden’s Proposals and Your Healthcare

Remember that healthcare is like retirement planning – it’s very personal Will the proposed policies of the Biden Administration have a negative or positive impact on your healthcare? A prevailing view – by about half...

Do You Have FOMO When it Comes to Investing?

Fear-of-missing-out is a very real emotion – but it can derail your portfolio Every day we’re bombarded with reports of what’s hot and what’s not – fueling a fear-of-missing-out (FOMO) on some great...

Positive Sector Performance in May 2021

8 of the 11 S&P 500 sectors end the month green, but the range is wide Over every single time period, sector performance will be driven largely by factors one would expect, such as the overall state of the economy, underlying corporate...

Biden Policies to Impact Stock Markets – Part III

The American Families Plan and what it might mean for investors Will the policies of the Biden Administration have a negative or positive impact on the stock market? A prevailing view – by about half of the country – is...

Four Reasons Millennials Need an Estate Strategy

You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need to think about estate management? Click here for four great reasons!

6 Questions About 529 Plans

Tomorrow is 5/29 day - 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...

Are You Aware of the Child Tax Credit Changes?

New changes thanks to the American Rescue Plan Act – but just for 2021 The Child Tax Credit was introduced through the Taxpayer Relief Act of 1997 and it was a $500-per-child nonrefundable credit to provide tax relief to families...

Biden Policies to Impact Stock Markets – Part II

The American Rescue Plan Act and what it might mean for investors Will the policies of the Biden Administration have a negative or positive impact on the stock market? A prevailing view – by about half of the country – is...

Biden Policies to Impact Stock Markets – Part I

While presidential policies matter, policies never move markets uniformly Will the policies of the Biden Administration have a negative or positive impact on the stock market? A prevailing view – by about half of the country...

The 2021 Hurricane Season is Starting Early

Last year we ran out of hurricane names, so make an emergency plan The first hurricane of 2021 is forming in mid-May, two weeks prior to the “official” start of Hurricane Season (the “season” runs from June 1st...

The Shutdown of the Colonial Pipeline Will Hurt

The higher costs of gasoline and housing will color your view of investing A roof over your head and gas in your tank cost more than ever. But prices for these essentials color your view of investing. What do your nest egg, retirement...

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...

“Sell in May and Go Away”

Why employ an investing strategy that is based on a summer horse race? One of the oldest stock market strategies is to “Sell in May and Go Away.” But before you factor in this seasonal “strategy,” you might want...

Five Divorce Settlement Pitfalls to Watch Out for, No Matter How Big the Estate

Bill and Melinda Gates and Settling $140 Billion estate Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often your...

Where Millennials are Buying Homes

The areas might surprise you – and are likely to see prices continue to rise Housing has been on a tear for the past 10 years, with homes currently going under contract within 24 hours, often above asking-price, and bidding wars...

Top 5 Reasons the Stock Market Might Retreat

But that doesn’t mean that someone’s opinion will become your reality It’s a debate raging across the country that seemingly everyone has an opinion about. From Main Street to Wall Street, everyone wants to know: will...

The Advantages & Disadvantages of 401(k) Loans

Not all 401(k) plans offer loan options. Consult your plan document or plan sponsor for more information on your 401(k) plan. Sometimes a 401(k) loan makes sense, but there are a lot of considerations Tapping your tax-advantaged...

401(k) Education Helps Profits

Your employees probably don’t make best use of your company’s retirement plan. Addressing this problem can boost their job performance and optimism – as well as your profits. What if you offer your current and future...

Six Tips for Wealth & Sanity

And the most important tip of all? Hire a financial advisor. Investing can be stressful, but it doesn’t have to be. If you have a portfolio that was built for you and use the help of a financial advisor, you shouldn’t be...

New Job and Four Tips for Your New 401(k)

Saving for retirement is important for all ages, the key is to start early 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...

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...

A Brief History and How to Look at Social Security

Is it about getting the money back or minimizing the risk of bad outcomes? Although Social Security did not come into existence until 1935, it can trace its roots back to the first national pension program for soldiers that was passed...

April is National Financial Literacy Month

Too many people just don’t have it, but your financial advisor can help April is National Financial Literacy Month – an entire month dedicated to underscoring the importance of learning, establishing and maintaining healthy...

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)...

Money-Focused Trends in Benefit Plans for 2021

Survey of thousands of employers summarizes top employee benefit trends Boston-based financial services behemoth Fidelity Investments surveyed thousands of employers and compiled a list of additional employee benefit trends for 2021....

How COVID Might Forever Change Benefit Plans

Companies of all sizes are likely to see lots of permanent changes Job seekers and HR executives have known for decades that it’s not just about salaries – employee benefits programs are great recruiting and retention tools...

Is Your Retirement-Ship Stuck in the Suez Canal?

A list of must-dos for 40 and 50 year old captains that have run agroundOn March 23rd, the massive, skyscraper-sized container ship named the Ever Given ran aground and got stuck in Egypt’s Suez Canal. It took about a week for more...

The Cost of College is Up 1,200% Since 1980

Did you know you could fund a 529 plan with UGMA/UTMA assets? Due to the shift to online classes over the past year, 2020 saw the lowest tuition increase in the last four decades. According to the Bureau of Labor Statistics, the...

Tips to Keep Emotions and Investing Separate

Reducing your emotions can give you a better chance for investing success Money is always an emotional subject, but often when our emotions get involved with our investments we will make wrong decisions. And that can be a costly...

Contribute to an IRA Before the May 17th Deadline

Your financial advisor can help you navigate the ever-changing IRS rules Taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions made to their Individual Retirement Account made through May 17,...

Is the Roth 401(k) an Option for You?

Taking a closer look at whether it might be appropriate for your situation Since it first became available in 2006, many employers have added the Roth 401(k) to their benefit packages as a retirement savings option. A Roth option is...

Understanding the Advantages of an HSA

HSAs can be particularly beneficial to those who are young and healthy A Health Savings Account can be a good alternative to traditional health care, especially for those who are young and healthy. With an HSA, you put money away in a...

Creating an Income Plan While in Retirement

Taking money out of retirement without a plan is a recipe for trouble You‘ve saved for years. Now that you are retired, did you create an income plan from your savings? The financial industry and media constantly talk about the...

Facing Down the Fear of Running out of Money

Tips to avoid one of the biggest retirement worries that all of us will face Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. In fact, one...

Celebrating Women’s History Month with Hetty

All investors could learn valuable lessons from “The Wizard of Finance” Women’s History Month traces its origins to 1981 when Congress passed a joint resolution designating the week beginning March 7, 1982 as...

Tax Day for Individuals is Extended to May 17th

But ask yourself whether there is any real benefit to waiting to file your taxes The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes until May 17th, giving individuals and businesses another...

That $1.9 Trillion Stimulus Might Cause Inflation

Watch the 10-year and oil because inflation eats away at retirement income The current job market landscape is a warning sign of how painful the U.S. economy is for many, as over 745,000 Americans filed for first time-unemployment...

IRS Provides Needed Flexibility for Health FSAs

New guidelines to employee benefit plans On February 18, 2021, the Internal Revenue Service announced greater flexibility to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance...

Plan Your Finances as You Would Your Exercise

You exercise to benefit from your sweat equity in the future, right? Waking up early in the dark mornings of winter to exercise comes hard. Once your workout ends, though, you often begin the day with the payoff of a tremendous energy...

Now is a Great Time to Revisit Resolutions

Budgeting should always be the centerpiece of your financial resolutions Did you make a New Year’s resolution? For 2021, many Americans are making the resolution to adopt healthy habits – concerning their bodies, minds and...

Getting Married in 2021 Means New Roth Rules

Know the rules so you don’t get hit with an excess contribution penalty So you’re getting married in 2021? Congratulations. And when you add up all your income (yours and your spouse’s), you’ll earn more than...

Sick and Family Leave for the Self-Employed

New form available from the IRS to claim sick and family leave tax credits The Bureau of Labor Statistics counts self-employment in different ways, but estimates that there are close to 10 million, with projections that this number...

How Much Can You Contribute to a Traditional IRA for 2021?

Good news for retirement savers: The maximum amount that can be contributed to a traditional IRA remains the same as it was last year. In fact, the last time the limit was increased by $500 was in 2019 and that was the first increase...

The Cost to Raise Your 6-Year Old is How Much?

Your advisor can help you plan for the rising costs of kids and college If you have a child in kindergarten, you may want to dust off a report from 2015 that explains just how expensive raising kids can be. And it’s downright...

IRA Beneficiary Rules Directly From the IRS

Know what to do if you inherit an IRA from a spouse or someone else As we get older, it is likely that we might inherit an IRA from mom or dad – or we need to counsel mom or dad as they inherit an IRA after one of them dies. The...

Shielding Your Insurance from Estate Taxes

The rules are very stringent, but your financial advisor can help navigate Life insurance, which can help to provide for your heirs in the event of your death, can be an important estate planning tool. It can provide funds to loved...

Now is a Fantastic Time to Review Your IPS

An Investment Policy Statement is your guardrail to keep you on your path When markets near high records, you wonder, “Is this a bubble?” When markets dive, you wonder, “Is this a crash?” Your biggest question:...

A Checklist Comparing Traditional and Roth IRAs

Understanding the differences between Individual Retirement Accounts Currently, there are two popular Individual Retirement Accounts (IRAs) that you might consider: the traditional IRA and the Roth IRA. While both are long-term savings...

Investor Sentiment (Emotions) Can Move Markets

Why having a defined investment plan is vital to your retirement goals Investor sentiment surveys tell us that today, with the stock market up dramatically since late March of 2020, there is widespread optimism about future gains. When...

Does it Pay to File Your Taxes Early?

Tips for paying taxes soon and what to do if you can’t pay on time When should you file your income tax? The earlier the better if you expect to get a refund. (February 12th is the earliest the IRS will accept tax returns this...

COVID's Impact on Super Bowl Spending

When you add it all up, how much money was spent on the Super Bowl? How much did we really consume on Super Bowl Sunday? And how much did we wager? While those are interesting topics to explore, the reality is that COVID cast a massive...

Keeping Employees Engaged With Promotion Opportunities

While compensation is obviously very important to workers, many employees value opportunities for advancement and for taking on more responsibility almost as highly as pay raises. Not all employees wish to move forward in their careers...

Managing Your Risk with Key Employee Life Insurance

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

Understanding the Earned Income Tax Credit

The EITC was enacted in 1975, yet 20% of eligible taxpayers fail to claim it. The Earned Income Tax Credit is a federal tax credit that can provide great benefit to families. According to the IRS, in 2019 alone, approximately 25...

Bernie’s Mittens and How it Applies to Investing

Five simple investing concepts derived from mittens that broke the internet On Wednesday, January 20th, Joseph R. Biden, Jr., was sworn in as the 46th president of the United States as Chief Justice John Roberts administered the oath...

Understanding the History of the January Effect

Can the monthly performance for January predict the rest of 2021? The January Effect is a pattern exhibited by stocks in the last few trading days of December and the first few weeks of January. During this period, particularly...

Stop Wasting Money

If saving more money was one of your 2021 New Year's Resolutions, click here to learn about the Top Money Wasters!

The New IRS Tax Rates and Deductions for 2021

Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and a there...

Your Credit Report and Identity Theft Detection

Tips for being proactive in safeguarding your identity and your credit score. Identity theft is a serious crime, with increasingly greater numbers of consumers being affected every year. As part of a protection strategy, the Federal...

Tips for Women to Build Financial Independence

Every woman needs to balance her financial past with her financial future Traditionally, women have been the caretakers of both the older and younger generations of their families. But providing care for family members is becoming...

Safeguard Your Digital Estate

If you died, what would happen to your email archives, social profiles and online accounts? Click here to find out!

Better Understanding Employee Benefit Planning

Cafeteria plans present bewildering (but personal) choices for your family In the past, employee benefits were selected from a “fixed menu” with no choices available. If you were fortunate, your employer provided a...

The Business Cycle

What has upswings and downturns, troughs, peaks, and plateaus? Though such terms could easily describe a roller coaster ride, they are also commonly used to describe the business cycle. Click here to learn more about the business cycle.

Saving for Retirement Through 403(b) Plans

Ways that not-for-profits can help their employees save for retirement For all employers, offering retirement benefits can play a fundamental role in recruiting and retaining qualified employees. Yet, despite the obvious advantages...

Your 2021 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...

Health Care Costs Expected to Jump in 2021

Will your 2021 benefits include telehealth and mental health services? As we approach the end of the year, employees and employers are both wrestling with changes to employee benefits for 2021. While every year always brings about...

COVID, 2020 Capital Gains and Window-Dressing

Three ways your financial advisor spots a window-dressed mutual fund There are two types of mutual fund capital gains – short-term and long-term. Simply stated, if a mutual fund (not the mutual fund investor), has held a stock...

Enjoy the magic of the season!

The holidays are a magical time of the year! Although your celebrations and gatherings may be unique this year, we hope the special memories you create are made to last. Even if you aren’t comfortable doing so in person, keeping...

Sobering Statistics on the Restaurant Industry

100,000+ restaurants have closed forever It is a topic that divides our nation, our states, our cities and our towns. How much should restaurants shut down amidst the pandemic? Maybe to 50% capacity? 10%? Maybe until the pandemic is...

Will Power

Preparing for the eventual distribution of your assets may not sound enticing. But a will puts the power in your hands. Click here to read this short, 4 minute article and learn how powerful a will can really be.

Top Ten Words That Almost Rhyme With Bubble

“What the wise man does in the beginning, the fool does in the end.” Warren You might find it hard to believe that the very first “Top Ten List” from David Letterman’s Late Night show appeared on September...

Pension Proceeds: Making the Right Choice

Thoughts of retirement may be accompanied by images of the enjoyable ways you’ll spend your days. One thing you may not even consider, though, is that you may be faced with a very important decision come retirement day. If you...

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...

The DJIA Hit 30,000 for the First Time in History

Should retirees worry that a stock market correction is imminent? After a long stretch of uncertainty throughout 2020, many retirees are smartly worrying that the stock market could be headed for trouble. This year has brought retirees...

IRS Makes 2021 IRA Cost-of-Living-Adjustments

Understanding the income ranges and contribution limits for next year. Tax law places limits on the dollar amount of contributions that you can make to Individual Retirement Accounts and by law, the IRS is required to adjust these...

Homeowners Insurance

Protection in More Ways than One Most homeowners are familiar with Part I of their homeowners insurance policy, which covers damage to their property. However, many policyholders may be surprised to discover the extent to which Part II...

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. Establish a regular maintenance program. Decide who’s number one. If you haven't done so previously,...

Pay Attention to Basic Investment Strategies

Many investors may wish they had a foolproof method for predicting where the market will go. Even talented market observers need to continually assess the economy, interest rates, commodity prices, wholesale and retail sales, and a lot...

Personal Money Management

Help Your College Student “Make the Grade” As Melanie Marshall (a hypothetical case) prepares to head off to college, she’s looking forward to her newfound independence. Although Melanie will be on her own for the...

Thanksgivings from Your Financial Advisors

As stewards of your financial plan, we have a lot to be thankful for. Every Thanksgiving Day, families gather around the table and tell each other what we’re thankful for. And while Thanksgiving 2020 might be around the virtual...

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.” —Sydney J....

12 Estate Planning Tips

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...

Capital Gains for the 2020 Season Could be Huge

This year looks to be a record year for capital gain distributions When an investor sells a stock for more than the purchase price, the investor experiences a capital gain (it is simpler to call it a profit, but let’s stick to...

Thinking About Social Security Benefits at 62?

Get advice on the benefits of postponing until your full retirement age Social Security is an asset that is taken for granted by many folks. If you are tempted to take Social Security early, when first eligible at age 62, think again:...

Improving Your Financial Health is Not Very Hard

“Keep it Simple, Silly” is a great approach to organizing your finances. Some folks think financial planning is very difficult. While certain aspects are hard, such as constructing the right asset allocation to meet your...

IRS Makes Annual Inflation Adjustments for 2021

Adjustments for deductions, tax rate schedules and 60 other tax provisions The Internal Revenue Service announced annual inflation adjustments for the 2021 tax year for more than 60 tax provisions, including standard deductions and the...

Putting the Best GDP Increase in Perspective

Should we cheer that 3Q2020 GDP numbers are the best in history? Remember back on July 30th, the Commerce Department reported that GDP decreased at an annual rate of 32.9% in the second quarter of 2020. It was the worst quarterly...

Open Enrollment Season Just Started

Reviewing your benefit choices to maximize what your employer offers Open enrollment for employee benefits began on November 1st. Before you plan your Thanksgiving menu, you should make the time to review your benefit choices. Employee...

Staying on Top of Your 401(k) Can Pay Dividends

Don’t just set it and forget it – tips for looking after your retirement money Lots of investors never bother to check on their 401(k) regularly. But you should keep a constant eye on your funds’ risk level, whether...

Political Parties and Stock Markets since 1900

Should stock market investors hope for a unified or a divided Washington? Does the party occupying the White House affect the U.S. stock markets and other economic measurements? How does the party controlling Congress affect markets?...

COVID-19 Upended the Growth vs. Value Debate

History says that Value should have outpaced Growth during COVID – nope Are you a Growth investor or a Value investor? Or do you prefer a mix of the two? Understanding your style of investing is an important step in deciding...

Laying the Cornerstone of a College Savings Fund

As you gaze lovingly into your infant’s eyes, it’s probably hard to imagine him or her heading off to college. Although that day may seem a long way off, it will arrive sooner than you think. In tomorrow’s world, a...

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,...

The October Crashes of 1907, 1929 and 1987

Could we be adding 2020 to that list of terrifying October crashes? October is an interesting month, as the last remnants of summer disappear, the leaves produce glorious colors and we give away candy to kids dressed in costumes as...

Sector Rotation Through Third Quarter of 2020

What a difference a quarter can make as sectors diverge and rotate Over every single time period, sector performance will be driven largely by factors one would expect, such as the overall state of the economy, underlying corporate...

COVID Brings Uncertainty to Q3 Earnings Season

Do companies really not know how they will perform in the future? Let’s say you own one of the 30 million small businesses in the U.S. You probably manage your cash flow weekly, maybe even monthly, but definitely quarterly,...

Monitoring and Managing Business Credit Reports

Often, large public companies have teams of people dedicated to reporting organizational changes to the business community and credit rating agencies. Smaller private companies, however, must make more of an effort to ensure that their...

Putting Your Company’s Surplus Funds to Work

If your company is in the enviable position of having more funds on hand than are needed for current operations, you can make the most of these surplus funds by investing them. When examining possible investment options, there are...

Eddie Van Halen, Cancer and Money Discussion

Suggestions to overcome our reluctance to talk about both money and dying On October 6, 2020, Eddie Van Halen, the legendary musician and co-founder of Van Halen, died after a very long battle with cancer. He was 65 and was in Santa...

Should You View Your House as an Investment?

Comparing housing appreciation to stock market returns over the past year The National Association of Realtors recently announced that first-time home buyers accounted for 33% of home sales in August, which is up from 31% a year before...

Wondering Whether You Missed the Recovery?

Why long-term investing success is about time in the market, not timing It is only natural that investors would want to find some way to sit out bear markets and get back just in time for the next bull run. The belief that you can...

The Effect of the Supreme Court on Stock Markets

Research paints a fascinating picture that all investors should think about President Donald Trump nominated Amy Coney Barrett to fill an open seat on the Supreme Court. And while the confirmation process has divided the country, there...

Nonqualified Deferred Compensation Plans

If your business has certain executives who are vital to its success, providing them with a nonqualified deferred compensation (NQDC) plan could be a strategy to keep them with your company. Such a plan represents an agreement whereby...

Notorious RBG on What Kept Her Going

Your search for a financial advisor should use the same exact same criteria. Justice Ruth Bader Ginsburg (1933 – 2020) died at her home in Washington D.C., surrounded by family on September 18th due to complications from...

Divorce Rates Spike During COVID Pandemic

Unlocking two myths about divorce that might help reduce stress Divorce lawyers, marriage counselors and the U.S. court systems are bracing for a surge in divorce filings once quarantine restrictions are lifted. And while it might be...

5 Avoidable Mistakes in the Will You Write

I have seen my share of client-drafted wills. While most people opt to have a lawyer draft their last will and testament, there is no requirement that an attorney do so. If you do opt to draft your own will, make sure to avoid the...

Are You Physically and Financially Inactive?

Ideas to kick-start your journey toward healthy body and finances According to a study released in January of 2020 by the Centers for Disease Control and Prevention, all 50 states and territories had more than 15% of adults who were...

Record-Breaking 2020 Wildfires are Not Over

Steps to take today to prepare your family for when an emergency strikes. California and the Pacific Northwest have to contend with wildfire season for six months of every year from May through October, with the last two months...

Review Your Insurance Needs Annually

The amount of insurance you need can change considerably from year to year. Therefore, evaluating your insurance coverage annually is important to check for any gaps in your coverage and make sure you are adequately protected. To...

Planning for Your Financial Future

Regardless of the path your life takes, money will play an important role at every turn. Certain events, especially graduating from college, entering the work world, getting married, having children, and retiring all require targeted...

Rethinking Your Retirement

It’s time to reexamine conventional ideals to see if they still apply 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...

Who Needs Disability Income Insurance?

I am all set. I’ll be fine. I’ve got plenty of insurance already. Have you thought the same about insurance or made these statements before? Maybe you do have an appropriate amount of coverage, but do you have plans to...

A Look at Guardianship and Older Adults

Suppose an elderly family member becomes incapacitated and has made no arrangements for such a situation. Advance directives are legal instructions that express a person’s wishes regarding financial and health care decisions in...

Eight suggestions on your way to establishing true financial wellness

August was National Wellness Month, an entire month where we focused on self-care, managing stress and promoting healthy routines on our way to a lifetime of wellness. And while we all intuitively know that simple, daily actions can...

Perspective on the Second Fastest Bear Recovery

On the one hand, there is [fill in the blank]; but on the other hand, there is… Starting with the last week in July and for the first three weeks of August, investors celebrated that the S&P 500 had advanced for four consecutive...

Four simple steps to align your spending with exactly what you value

The COVID-19 pandemic has reshaped our lives in unprecedented ways, forcing us to stay at home more, adjust our spending habits and even reevaluate our retirement hopes and dreams. And as we enter the dog days of August when we would...

Mastering the Phone Interview

Landing a phone interview is often the first step to securing a new job. For this reason, the phone interview should not be taken lightly. Employers use phone interviews to decide which candidates are qualified enough to be granted an...

Making Sense of the Payroll Tax Executive Order

Why you need to be careful not to start spending your payroll tax money. After negotiations for another stimulus bill stalled for two weeks, President Trump issued an executive order suspending the collection of Social Security payroll...

COVID-19 and How We Think About Money

Examining whether you have a healthy relationship with money is important. The COVID-19 pandemic has reshaped our lives in unprecedented ways, forcing us to live closer together with some people, rely on video conferencing to connect...

Stock Market Flirting Again With Record Highs

Did you miss the second fastest bear-market recovery of the past 50 years? We might look back and marvel how during the dog-days of August 2020, the stock market reached a new high not seen since pre-COVID. Remember when the S&P 500...

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...

COVID-19 Delaying Your Retirement Date?

“Everyone has a plan until they get punched in the mouth.” Mike Tyson Recent surveys have indicated that many of us are rethinking our retirement plans because of COVID-19. In fact, one survey from the nonprofit group Life...

Putting the Worst GDP Drop Ever in Perspective

Should we cheer if third-quarter 2020 GDP numbers are the best in history? Remember back in late May when the Commerce Department reported that our U.S. economy shrank at an even faster pace than previously estimated in the first...

The 2020 Atlantic Hurricane Season Will Be Busy

How prepared are you financially when Hurricane Nana hits? The 2020 Atlantic Hurricane season is here and the question on everyone’s mind – especially those living along the east coast – is whether this year’s...

Why American Manufacturing Matters So Much

Technology might be exciting, but manufacturing is arguably more important. After withering during the 10-year period from 2000 through 2010, manufacturing employment in the U.S. turned around and started climbing. Sure Twitter and...

At Mid-Year, Keep Your January 1st Pledges

Do you have a will, investing in education or building a Freedom Fund? Amid the heat of mid-summer, do you remember your New Year’s resolutions regarding your personal financial planning? How are you coming with your to-do list?...

Overconfidence versus Consumer Confidence

One is a significant financial risk whereas the other is a financial guidepost. One of the biggest obstacles on so many financial journeys is the inability to identify risk. That blindness to risk is due to a variety of reasons, but...

COVID Forcing Some Colleges to Close Forever

College savings tips – because the costs of college are not going down. As if the country needed another divisive topic, the debate about reopening schools this fall is splitting communities, educators and families. According to...

After 4 ½ Years, Warren Buffett is Buying Again

It has to be a good sign that the Oracle of Omaha spent $10 billion in July. Remember not so long ago (like the end of 2019) when Warren Buffett was sitting on $128 billion in cash and was considered completely out of touch? A...

What Is a 403(b) plan?

In 1958, the Internal Revenue Service (IRS) created 403(b) plans to encourage employees of certain organizations to begin saving for retirement. Organizations eligible for participation in these plans are those “organized and...

12 Reasons You Could Go Broke in Retirement

Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. According to the Transamerica Center for Retirement Studies, the most frequently reported...

10 Money Mistakes Millennials Should Avoid

No. 10's a Shocker Many millennial households are on their way to building substantial wealth. They are saving 20% or more of their paychecks, investing in 401(k) accounts, and keeping their debt levels low. But others, even those with...

Put Your Money into the Best Home Improvements

Choosing the right home improvement project may pay off when the time comes to sell your home. You may get back all, or even more, than your investment in a remodeled kitchen or added bathroom, but it is generally considered unwise to...

Gasoline & Food Prices Drive June’s CPI Increase

All investors should account for inflation to maintain future purchasing power. You hear it all the time: you should make sure your retirement savings at least keep pace with inflation. But what is inflation and how does it really...

Understanding the 11 S&P 500 Sectors

Sectors rotate from performance leaders to performance laggards quickly. Investors are bombarded with news about how well (and poorly) individual companies perform and how well groups of companies that share similar business...

If you are a casualty of downsizing or bankruptcy, is your contingency plan ready?

Are you prepared if you lose your job or your employer files for Chapter 11? Brooks Brothers, founded in 1818, is the latest retailer to file for Chapter 11 bankruptcy protection, pushed over the edge by the impact of COVID-19....

COVID-19, Nursing Homes and LTC Facilities

Determining the right living arrangement for your senior is much harder now. The decision to place your loved one in a nursing home or another long-term-care facility is a difficult one under any circumstances, especially since most...

Rebalancing Matters

Your investment advisor can help you overcome your biases and worries. There is no question that COVID-19 has caused untold damage to your retirement plan. Whether you are a few years away from beginning to draw down your retirement...

How to Reduce Financial Worries

Young adults and those making less money are hardest hit by the pandemic. The United States Census Bureau has been collecting data in as close to real-time as possible in order to provide empirical insights into how Americans are...

Second Quarter of 2020: A Matter of Perspective

Be careful not to get too excited by record-breaking quarters and headlines. When the final bell rang at 4 pm EST on Tuesday, June 30th, Wall Street rejoiced in the fact that the major U.S. stock market indices had turned in three...

IRS Offers Relief to Retirement Plan Participants

New guidelines for retirement loans and distributions due to COVID-19 On June 19, 2020, the Internal Revenue Service announced new guidelines to help those affected by COVID-19 gain more access to retirement plan distributions and...

Why are “Expert” Predictions and Polls So Wrong?

How investors should receive data, polls and consensus expectations. On Friday, June 5th, the Department of Labor reported that non-farm payrolls added 2.5 million jobs during the month of May. But “consensus expectations”...

Retail Sales Set Record Jump Going Back to 1992

Combined with surprising jobs numbers, hopes for a faster recovery heat up On June 16, 2020, the U.S. Commerce Department reported that U.S. retail sales surged a whopping 17.7% in May, as consumers returned to shopping and spending....

Will COVID-19 Cause Deflation to Show Up?

First time in 60 years that core CPI has dropped for 3 consecutive months On June 10, 2020, the Department of Labor released CPI numbers for May and there was a chorus singing deflationary tunes for the rest of the week. Will the...

COVID-19 Pushed 2019 Tax Deadline to July 15th

Higher 401(k) limits, stimulus payments, COVID-19 distributions and more COVID-19 caused the Treasury Department and the Internal Revenue Service to extend the 2019 federal income tax filing deadline from April 15, 2020, to July 15,...

Disconnect Between the Markets & the Economy

Trying to reconcile the recent market advances with awful economic data U.S. stock markets continue to trend up as optimism returns to Wall Street while Main Street USA continues to reopen. Yes, there is plenty of social unrest around...

Father's Day Traditions

Father-figures in your life deserve to be celebrated! Yesterday was Father's Day, a day to honor our fathers and to celebrate their contributions to our lives. Some of our fathers are living and some have passed. And sadly, many...

Top 10 Places for Millennials to Buy a House

COVID-19 is likely altering what locations are more desirable for all of us. In most areas around the country, spring is usually the most active time for homebuyers. But this year, COVID-19 made much of the country hit the pause button...

Extending Tax Season is Extending Scam Season

Tips for recognizing the telltale signs of an IRS scam and how to report it. The Treasury Department and the Internal Revenue Service extended the federal income tax filing deadline from April 15, 2020, to July 15, 2020. That means...

The Impact of COVID-19 on International Markets

Stock markets around the globe did not move in lockstep with one another. Investors know that the COVID-19-bear market that dethroned the 11-year bull market in the United States took over Wall Street with lightning-fast speed. In fact...

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 security, even if...

May 29th was a Nationwide Celebration of 529 Day

Ask your advisor about the benefits of 529 college savings plans May 29th marked the nationwide celebration of 529 Day, an opportunity to highlight the many benefits of 529 college savings plans. As higher education costs continue to...

How Well Do You Know Your Auto Insurance?

Because it might not cover damage during riots and peaceful protests. We have seen the images of city blocks filled with destroyed, burned and looted cars in the aftermath of mass protests across the country. Many cars were...

Why Plan Your Estate?

Many individuals put off planning their estate. Perhaps this is due to a misconception that estate planning is only necessary for the wealthy and only involves tax planning, which can be done “later.” The fact is,...

Tips for discussing nursing homes and LTC facilities with an aging parent

Nursing homes and long-term care facilities have always been required to report all COVID-19 cases to state and local public health officials. But until recently, they were not required to share such information with federal health...

A Healthy Financial Life Begins With Just One Day

Tips to feeling more empowered regarding your financial needs and goals. The makers of the fitness tracking device Fitbit reported that Americans were less active during the spread of coronavirus, as we stayed-at-home and practiced...

COVID-19 Downturn is Not Another Great Depression

Five reasons why this comparison is designed “to sell newspapers”. In mid-February, Google reported that the number of searches for the term “Great Depression” was on the rise. For the rest of the month and...

Congratulations to the High School Class of 2020

COVID-19 reminds us that our high school seniors need a few legal docs. COVID-19 has crushed the spring ritual of high school graduations. But it can also encourage graduates and their parents to prepare to meet the practicalities of...

The Ripple Effect of Housing on Our Economy

Housing starts down, construction jobs way down and lumber prices are up? As states begin to ease stay-at-home orders, communities across the county are starting to see “For Sale” signs planted in neighbors’ lawns...

Keeping Tabs on Your Competition

To be successful in business, you have to stay on top of your competition. That holds true for large corporations and small business owners alike. By knowing what your competition is up to, you may be better able to position your own...

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...

Investors Need to Account for Rising Inflation

A good rule of thumb is to assume inflation will be at least 3% every year. A Pew Research Center poll showed that most Americans are worried that their states are opening too early. In fact, the research shows that: 68% of Americans...

The Inflationary Impact of COVID-19 Stimulus

The coronavirus outbreak, which was first detected in China, has infected millions of people in hundreds of countries and has left global governments, businesses, families and individuals around the world counting the costs. In the U.S...

Honoring and Celebrating National Nurses Week

Nurses might suggest “Healthy at 75” should be your new retirement goal. National Nurses Week begins each year on May 6th and ends on May 12th, the birthday of Florence Nightingale, the one most credited with pioneering...

Global Market Commentary – April 2020

Mirror, Mirror on the Wall (Street) Investors went into April worried that it might be a continuation of March. Instead, April was in many ways the mirror image of March. Consider that: · In March, the DJIA and S&P 500 both...

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...

Companies are Saying Goodbye to Dividends

Will dividends go the way of the Dodo Bird or the Small Elephants of Java? The COVID-19 crisis has forced companies around the world to suspend dividend payouts to their investors. In fact, through the first quarter of 2020 alone, over...

The COVID-19 Risks of Trying to Time the Market

Success is achieved by time in the market, not in trying to time the market. For the past two months, the market declines and market rallies have been historic, as COVID-19 introduced a level of uncertainty that was difficult to...

The Nasty “Business Interruption” Insurance Fight

A reminder to know what your insurance covers – and doesn’t cover. Restaurants, hotels, gyms and other businesses that were forced to close due to COVID-19 are now battling their insurance companies over their business...

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...

Tips for Documenting Your Valuables

Could you list, and accurately value, all your personal property from memory? In the event you need to file a claim, a complete inventory of all your possessions can help you document your loss. A written description should include the...

Stuck at home with your partner? Look to retirees for how to make it work

Across the country an unprecedented number of couples are suddenly spending every waking and sleeping hour of the day with one another. That’s what many older retired couples do too, even when there isn’t a pandemic. Their...

First Quarter 2020 Earnings Outlook is Bleak

But while corporate earnings help drive stock prices, so do expectations. Earnings season is under way for the first quarter of 2020 and investors should not be surprised if they see sudden stock price moves and market swings when...

Amidst Stay-At-Home, Learn Money Mindfullness

Using money to enhance your life and the lives of those around you. Money matters are complex and even scary. How you choose to approach finances mentally is key to mastering them. Financial advisors call this “money mindfulness...

Your Retirement Planning: “Too Big to Fail”

Five common retirement planning misperceptions and how to avoid. Many of us remember the phrase “too big to fail” from the 2008 financial crisis and cringe now that its use has been resurrected during the coronavirus...

The Month of April is Financial Literacy Month

Use this social-distancing time to establish healthy financial habits COVID-19 has presented everyone with incredible challenges as it has wreaked havoc on our country and around the world. Beyond the worry of the virus itself,...

Benefits of the CARES Act for Individuals

A quick summary of the biggest economic bill in history for individuals. The Coronavirus Aid, Relief, and Economic Security act – the CARES Act – is the largest economic bill in U.S. history and was designed to...

Asset Manager vs. Gatherer vs. Financial Planner

There is a difference between the three – and you need to ask questions. Some folks, lacking the time or expertise, want a professional to manage their money. But what if that professional parcels out your wealth to different...

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 elegantly simple...

A Short Course in Insurance: Permanent vs. Term

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 types...

What Do You Really Know About Bear Markets?

The Coronavirus Bear kicked the 11-year bull off of Wall Street very fast. A “bear market” occurs when stock prices in general are falling, and then widespread pessimism sustains the continued drop in prices. The stock...

The April 15th Tax Deadline is Now July 15th

You don’t need to file by April 15th and you should think about the benefits. The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes by 90 days, giving individuals and businesses another 3...

Could Your Retirement Withstand a Drop of 70%?

Boeing and the risk of your retirement being concentrated in a single stock. It was January 2000 and Joseph Boeing just landed his dream job at his dream company, headquartered in his hometown of Seattle. Joe just turned 40 and as a...

What Makes Up Your Estate?

One of the first steps in determining your federal estate tax liability is determining what assets and property are considered part of your estate. From this starting point, it will be easier to project future estate growth and develop...

Master the Power of Negotiation

Skilled negotiation results in creative problem-solving, and it’s an endeavor undertaken by everyone from moms trying to get the kids in the car to world leaders drafting national constitutions. By mastering the art of persuasion...

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...

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...

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...

Consider an Annuity for Your 401(k) Rollover?

Your financial advisor can help you understand your 401(k) rollover options. With companies downsizing to stay in business and corporate takeovers occurring almost every other day, the only thing certain in anyone’s career these...

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...

Disaster Kits for Your Pets

Have you thought about what would happen to your pets if a disaster were to strike in your area? With no evacuation plan for your companion animals, their chances of survival can greatly decrease. Preparing a pet disaster kit in...

Beware of Increasing Your Credit Card Debt

Three steps to help you take command of your short-term debt. According to the Federal Reserve Bank of New York, consumer debt in the United States currently totals $3.898 trillion, a 7.6% increase from the previous year. And average...

Mutual Funds: A Foundation for Your Financial Future

Just as designing a house should start with the foundation, designing an investment strategy should start with core investments selected with the goal of growing your assets. Investing always involves some degree of risk in exchange...

Who is Doing Your Taxes? Are They Qualified?

Make sure they can certify your tax returns and have the right credentials. Tax season looms, but who will prepare your return? If you don’t do your own, then make sure your preparer has the right professional designation. Two...

Rush Limbaugh, Cancer and Financial Planning

The emotional ups and downs require the help of a financial planner. “This day has been one of the most difficult days in recent memory, for me, because I’ve known this moment was coming,” talk radio king Rush...

Ozzy, Parkinson’s & Elder Care Planning

Tips to tackle the difficult conversations and how to create a planning team. Rock legend and Black Sabbath frontman Ozzy Osbourne revealed that he's been diagnosed with Parkinson’s disease. In an appearance on Good Morning...

President Trump’s Budget for Fiscal Year 2021

Tips for budgeting during your retirement years, without Congressional help. President Trump unveiled a $4.8 trillion budget for fiscal year 2021 and one of his main goals is to balance the budget in 15 years. While you can read the...

The Bill & Melinda Gates Foundation Turns 20

Consider a donor advised fund if you can’t start your own foundation. The Bill & Melinda Gates Foundation was launched in 2000 and over the past two decades, has given away almost $54 billion. In their Annual Letter, the Gates...

Where $100k in Retirement Will Last the Longest

This will give you a sense of just how much you should really be saving. Making sure you have enough money saved for retirement is one of the top concerns for those of us not independently wealthy. In a perfect world, we will figure...

February is a Great Time to File Your Taxes

Tax tips to make sure your money is working for you, not Uncle Sam When should you file your income tax? Generally speaking, the earlier, the better, after January 1st if you expect to get a refund. If you file by the end of February,...

What Might the Coronavirus Do to Stock Markets?

Look no further than the SARS outbreak for an idea of the implications. On Friday, January 24, 2020 news of a second case of coronavirus in the U.S. pushed the stock market down 1% as investors scrambled for the cover of perceived...

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....

Jump-Starting the LTC Conversation

Talking about long term care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status, cognitive...

Improving Your Professional Visibility

Reaching out and developing relationships with potential customers should not be left to just a few designated "rainmakers" within your company. You can market your business to a broader range of potential customers by increasing your...

The Housing Market Looks Robust to Start 2020

Is housing a leading economic indicator or lagging indicator? Or neither? Historically, the housing industry has led the U.S. out of a recession and many economists consider new housing starts to be a leading economic indicator versus...

Picking Your Financial Advisor in the New Year

Use your best comparison-shopping skills when choosing a financial advisor Many financially successful people are comparison shoppers. If you’re one, you pore over ratings in consumer magazines, read websites for reviews and...

Kobe Bryant’s Death Reminds Wives to Prepare

Widows have special considerations when planning their financial future The world lost one of its greatest and most accomplished basketball players on Sunday, January 26, 2020. Early in the morning, Los Angeles Lakers legend Kobe...

A Prescription for Disability

When it comes to business owners and the impact a disability can have on their business, there are many issues to address. Consider the following hypothetical case. Robert Wilson and his partners Steve Barton and Emily Trask own Maple...

Consider the Value of Long-term Care Insurance

How can you cover the costs of future care for you and your loved ones? Individuals 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...

Three Mistakes That Can Ruin Your Retirement

Most of the financial advice you see focuses on telling individuals what they need to do to be a success in retirement. But it's just as important -- maybe more important -- for people to know what not to do. Indeed, there are mistakes...

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...

Assessing Value—Seeing is Believing

A picture may be worth a thousand words, but when it comes to filing an insurance claim for lost or damaged property, a picture may be worth a whole lot more. If you need proof of your losses, photographs or videotapes of your...

The Changing Face: Dual Income Families

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...

Mutual Fund Fees and Your Market Basket

Many mutual fund companies display their performance figures prominently, but they may take a low-key approach when it comes to fees. Generally, when funds are doing well and returns are strong, investors tend to overlook the fees...

2020 Contribution Limit Changes & the Secure Act

Understanding the changes for 2020 so you can maximize your retirement There are some significant changes to your retirement plans that started January 1, 2020. Between the Internal Revenue Service announcing cost-of-living adjustments...

What You Need to Know About the Secure Act

The largest overhaul to retirement plans since 2006 is complicated The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – passed the House of Representatives late last year and was approved...

Converting Term to Permanent Life Insurance

Suppose you purchased term insurance when you were young to help protect your growing family. At the time, term insurance may have offered the flexibility to help meet your family’s immediate needs at an affordable price. Indeed,...

How to Divide an Inheritance Equally

Minimize the need to decide taxes and transaction costs for all beneficiaries Nothing ignites family arguments like inheritance. If you plan to leave money to more than a few beneficiaries, for the sake of peace and your own emotional...

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,...

Managing Generation X

As “Generation X” came of age in the early 1990s, these young adults were widely perceived to be cynical, live-for-the-moment slackers unwilling to bend to the expectations of employers. But as Gen Xers enter their prime...

Your Business: Solutions for Succession

A family business may grow to the point where you, the owner, are called upon to undergo a radical transformation and change from being the “doer” to being the manager. The transition is generally not difficult if it is...

Bonus Payments Tied to Non-Financial Metrics

Executive pay programs focusing on long-term growth, as they should For a myriad of reasons, companies across the globe – notably banks and insurers – are making changes to their executive pay programs, with many adding...

Ebenezer Scrooge and Financial Change

Understanding the key to developing an internal desire to change Ebenezer Scrooge, the infamous miser of yuletide lore, can teach us a lot about money – specifically how to change our views on how we deal with it. For many, the...

Four Financial Planning Essentials to Ease Your Retirement Fears

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements...

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...

Winter Driving: Don’t Be Left Out in the Cold

Along with snowmen, skating, and sledding, the winter months also bring the possibility of freezing rain, strong wind, ice, and blizzard conditions. When such weather is imminent, the National Weather Service may issue winter storm...

Living Together: Are There Any Strings Attached?

Unlike marriage, which entails numerous obligations and rights, “living together” outside of marriage is particularly nebulous with regards to legal obligations. For some individuals, this is the primary reason for avoiding...

Match Your Life Stage to Investing Basics

When the stock market acts up—which to most investors means when it goes down— you may wonder if you would be better off saving, rather than investing, your money. Still, putting money into an investment vehicle (such as...

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...

Whom Should I Name as Executor of My Will?

Choosing an executor for your last will and testament is one of the most important decisions in your life. The individual you choose must carry out the written provisions you have left and relate diplomatically with your beneficiaries,...

How to Help Aging Parents

Financial capacity – the ability to manage your finances in your own best interest – involves everything from paying bills to reading a brokerage statement and weighing an investment's potential risks and rewards. And...

E-Learning: Doing the Virtually Impossible

People 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...

Bequests to Charity in a Will Must be Measurable

During their lives, many individuals make donations to favorite charitable causes to address social ills or support certain institutions. For some, altruistic motives predominate. Many technological, medical, and educational advances...

Management That Puts People First

Payroll is generally a company’s biggest operating expense. While employing people is costly, the contributions of employees are essential to the daily operations of the business. As a company grows, the work done by employees,...

Where There’s a Plan, There’s a Continued Business

The idea that someday, someone else will be running your business may be a difficult one to consider. However, because death is a fact of life, it is important to face the inevitable. Therefore, if you wish your business to...

Big Employers That Let You Bring Your Dog to Work

While Donald Trump has yet to appoint a four-legged friend to walk the halls of the White House (making him the first president since William McKinley not to have a dog), his former Secretary of the Interior, Ryan Zinke, made history...

Year-End Housekeeping

The end of the year provides an ideal opportunity to reflect on the status of your personal finances and review your evolving goals and objectives for the year ahead. Below are some suggestions for getting started: Get Organized. Pull...

3 Mistakes to Avoid Before Taking Required Minimum Distributions

Uncle Sam wants your money. He has bills to pay, just like you. And he's been waiting patiently for decades for you to hand over his share of your tax-deferred retirement dollars. He expects some folks to be stubborn about it, so he...

The Four Forms of Policy Co-Ownership

Owning property with another individual or partner can be complicated. Consulting with your legal professional can help you establish the form of ownership that will benefit you and your heirs. The four forms of co-ownership are the...

Avoid the Two-Income Trap

Asking questions and planning will give you both peace of mind Combining love, lives and laundry is one thing. Combining your money is another. Newly married couples who both work do well to think about what to do with two incomes....

What You Need to Know about Financial Fraud

Many of us grew up in a world where it was customary to be friendly, courteous, and trusting. Unfortunately, assumptions concerning these standards of conduct can sometimes get us into trouble. Con artists offering a variety of...

Finanical Planning is All About Your Future Self

How do you encourage yourself to do something that you swear today you’re going to do? Easy: Send yourself an email today for delivery to you in the future. Think about how amazing it would be to get a surprise from the past....

Money Management Made Easy

Every now and then, you meet someone who appears to be living beyond their means—and their doing it successfully! Surely, it can leave you scratching your head wondering: “How do they do that?” Well, believe it or not...

Mastering the Art of Asset Allocation

Successful investors make asset allocation the cornerstone of their investment plans. While some investors buy whatever happens to be “in” at the moment, the prudent investor uses a disciplined approach to portfolio...

Making the Most Out of Meetings

Although some people would prefer not to attend meetings, they are a necessary part of the business landscape. Bringing staff members together from all organizational levels is essential to ensure everyone works toward identifying and...

Keep Your Homeowners Coverage Up To Date

When you sign up for a homeowners or condominium owners insurance policy, you take the first step in protecting what may be one of your largest assets. It is important to be knowledgeable about the appropriate amount of coverage needed...

Who’ll Be in Control When You Can’t Be?

One thing is for certain: Life is unpredictable. But, it is still important to prepare for the future and whatever it may hold. Have you ever considered what would happen if you were to experience an accident or illness that left you...

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...

Providing Incentives with Stock Options

The fundamental role of stock options is to align management’s profit incentives with those of shareholders. Companies provide opportunities for their employees to obtain company stock as an incentive for them to become...

The Retirement Community Alternative

Whether you are on the verge of retirement or it is years away, many of your current financial decisions are shaped by the questions of where you will live in the future and how your financial and social needs will be met. In addition...

The Basics of Financing Your New Home

If you are in the market for a new home, interest rates are favorable, and good deals are not difficult to find in many areas of the country. Buying a home is the single largest purchase most people will ever make, and for first-time...

When a Car Crash Is No Accident

In an increasingly mobile society, drivers should be aware of the unfortunate reality of staged auto accidents, which can lead to injury as well as indisputable surcharges on your insurance policy. Drivers of all ages and experience...

October is National Financial Planning Month

Five tips to finding a financial planner that fits you and your family The financial planner you pick to manage your assets and advise you on key financial decisions affects your retirement and other major financial goals more, maybe,...

Maximizing Fiscal Fitness with Budget Basics

Nowadays, there are an array of financial software programs that can help you stay fiscally fit. Technology certainly can be a valuable tool, but good, basic habits are necessary to put you in solid control of your finances. As you use...

What are the Most Common Investment Performance Benchmarks?

Q. What are the most common investment performance benchmarks? A. The most common comparisons of investment performance are usually against various averages or market indices, depending on nature of the underlying investments being...

Life’s Milestones and Updating Your Insurance

Maintaining a life insurance policy that meets your needs is an ongoing process. Before you put that policy in a drawer to gather dust, remember that life insurance requires fine-tuning over time, especially as you reach life’s...

What to Expect When Working with Your Estate Planning Team

Estate planning often involves the coordinated efforts of an estate planning team consisting of your attorney, accountant, and financial services professional. However, whether establishing a new estate plan or revising an existing one...

Maintaining a Successful Banking Relationship

Your bank constantly evaluates you and your business. They examine your financial statements, but also notice subtleties, such as your current financial health and well-being. Remember, the nature of the banking business is to evaluate...

Setting a Price for Buying or Selling a Business

In the overall U.S. business landscape, mergers, takeovers, and buyouts are occurring at a steady rate. If you were to place your business on the market would you know what it is worth? Setting the price is often the most important...

Reviewing Your Disaster Contingency Plans

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

Three Make Your-Money-Last Tips for Retirees

After all of those years of saving, investing and planning it's finally time to retire. But what is it that those who successfully planned for the long term do to ensure their funds last for the duration of their retirement? Consider...

Investing in Real Estate: More Than Just Bricks and Mortar

Astute investors understand that proper diversification involves holding a range of investments in all asset categories—stocks, bonds, real estate, and cash—not just those that happen to be in favor at a given moment. Yet,...

Tips for Filing Insurance Claims

What if your company’s building is vandalized or damaged by a storm or fire? After the initial shock, you know that as a policyowner, you need to file an insurance claim. But the time and effort you think it may take could cause...

Financial Advice Tailored to You

Tips to make sure you are not getting general “one-size fits all” advice Professional financial advice targeted toward you, your life and your goals works much better than generalized, scattershot investing tips. Have you...

Making the Most of a Fixed Annuity

A fixed annuity can be an attractive retirement savings vehicle if you’d like to receive a specified income at regular intervals for the rest of your life or for a term of years (based on the claims-paying ability of the insurer)...

Helping Young Adults Understand Insurance

Insurance should be part of everyone’s plan – and it should evolve too. Young adults starting out in life, especially newlyweds, need insurance. But what kind? As a start, a good term life policy likely is a smart move....

Watching Over Others

Your younger sister has just given birth to her first child and has asked you to serve as guardian should something happen to her and her husband. While offering to help watch over loved ones may be a natural impulse, guardianship is...

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