Blog
What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry, market updates or emerging trends in personal finance, you can read about it here. We also like to share answers to our most asked questions from clients and prospects. So keep checking in and keep asking those questions. We’re glad to have you reading along!
Medicare Open Enrollment Ends December 7
Medicare Open Enrollment is coming to a close, so if you are considering making a change to your plan, it's time to take action. Changes you make during 2023 open enrollment go into effect on January 1, 2024. Here are a few factors...
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Understanding Extended Care
Addressing the potential risks of extended-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy. Seven in ten people over age 65 can expect to need extended care...
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What If Your Kids Decide Against College?
As a parent or grandparent, you may have diligently saved money in a 529 account to help fund your child's or grandchild's college education. But what happens if they decide college isn't the right path for them? It's a valid question...
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How Retirement Spending Changes with Time
New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern may be legitimate. Some households "live it up" and spend more than they anticipate...
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Guiding the Boomerang Generation
I've seen the "Boomerang Generation" in more than a few headlines lately. These young adults return, or "boomerang," to their parents' homes as they attempt to navigate the property market. The key culprit is mortgage rates nearing the...
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Social Security COLA & Medicare Part B Premiums
The Social Security Administration recently announced that over 71 million Americans, including Social Security and Supplemental Security Income beneficiaries, will receive a 3.2% increase in their benefits for 2024.1 However, it is...
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Social Security Announces 2024 Cola
The Social Security Administration has announced a 3.2% Cost of Living Adjustment (COLA) for 2024. This adjustment means the average Social Security retiree beneficiary will see their monthly check increase by about $57 to $1,849,...
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October is National Cybersecurity Month
October is National Cybersecurity Month. Cybersecurity is a practice that allows you to protect networks, devices, and data from unauthorized access or criminal use, as well as ensure that your private information remains confidential,...
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Cyber Safety Tip
We’ve all been there. You’re scrolling through your phone, computer, or tablet, and a notification pops up. “Update Me!” While that isn’t the exact wording, the meaning is the same. Something wants to be...
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October is National Financial Planning Month
Why should you work with a financial professional? Help with Cash Management – a financial professional can help you create an emergency fund: money that’s set aside for unplanned expenses. This may include looking at your...
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How M1 Money Supply & Inflation Are Related
Sometimes, a picture tells a thousand words, and this chart of the M1 money supply certainly does just that. M1 rose rapidly during the pandemic due to an effort to provide stimulus packages to those who suffered financial loss during...
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Fortifying Your Digital Defense
In light of the recent cyberattack in Las Vegas, I want to address an increasingly critical issue in today's digital age: cybersecurity. Hackers are increasingly using a tactic known as "social engineering," which involves hacking...
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Strategies for Managing Student Loan Debt
If college were a party, then student loans are the hangover. Unfortunately, the "hair of the dog" won't cure this headache, but here are some ideas for managing your student loan debt. The programs listed are not intended as tax or...
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Who is Your Trusted Contact?
Investment firms have a client service feature that may be a benefit to certain investors. They will ask you whether you would like to provide the name and information of a trusted contact.1 You do not have to supply this...
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Life & Death of a Twenty Dollar Bill
The government prints millions of notes a day. Here's a quick look at what goes into creating a $20 bill and what determines when a bill's lifespan ends.1 Paper A $20 bill starts out life as part of a large sheet of paper. While most...
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Financial Aid for Student Loans 101
Preparing for college while still in high school can be difficult for even the most academically-minded student. These days, you need to excel in the classroom, make sure you're involved in extracurricular activities, and enroll in...
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Dog Bites Neighbor. Now What?
In 2022, there were 17,597 dog bite claims nationwide, totaling aggregate damages of over $1 billion, according to the Insurance Information Institute.1 For most homeowners (and renters), a standard policy generally covers any legal...
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Everyone Needs an Estate Strategy
Like some of OUR clients, you may have seen the latest regarding Aretha Franklin's estate. The Queen of Soul passed in 2018, and years later, her loved ones are still caught in legal trials thanks to the existence of multiple wills. As...
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Your Changing Definition of Risk in Retirement
During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you are concerned with finding...
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Consider Keeping Your Life Insurance When You Retire
Do you need a life insurance policy in retirement? One school of thought questions this decision. Perhaps your kids have grown, and the need to help protect the household against the loss of an income earner has passed. If you are...
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Why the Fed Can't Figure Out the Job Market
As the Fed continues its fight against inflation, one of the more challenging parts of the economy is gauging what's happening in the jobs market. One July report showed the private sector added nearly 500,000 jobs, double the...
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Wasn't There Supposed to be a Recession?
In advance of 2023, the recession drum beats were so loud it was deafening. Market pundits warned that as the Fed raised interest rates, it was just a matter of time before the economy entered a recession. But it’s July now, and...
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Understanding Equity Compensation
Employers do what they can to foster a sense of ownership in their employees. After all, if you stand to benefit from a company’s success, you’re more likely to do a great job for them, or so the logic goes.So, when you are...
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Retiring Earlier Than Expected? What to Know
Many Americans, through circumstances beyond their control, find themselves needing to retire earlier than anticipated. Whatever the circumstances, it’s difficult not to feel wrongfooted and hurried by the situation. However,...
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FIRE Retirement
If the idea of retiring in your early 50s, 40s, 30s, or even late 20s appeals to you, you may be interested in joining the FIRE retirement movement. Designed for those who have the discipline and cash flow to save diligently, FIRE can...
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Deciding When to Take Social Security
One of the most common questions people ask about Social Security is when they should start taking benefits. Making the right decision for you can have a meaningful impact on your financial income in retirement. Before considering how...
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Resumption of Student Loan Payments and Interest Accrual
The U.S. Department of Education has officially announced that student loan payments will resume in October, ending the three-year-long pause that was implemented due to the pandemic.Starting September 1, interest will begin accruing...
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A, B, C & D of Medicare
Breaking down the basics.Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care...
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Mortgages in Retirement
Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. Saving, investing, anticipating medical costs, and making sure you have enough tucked away for years to come is just the...
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A Cheat Sheet for Sending Your Kid to College
College marks a great milestone in a child’s life. It may be the first time he or she will live away from home. Dropping off your child at college may be an experience loaded with emotions, so here are a few tips for a smoother...
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Getting a Head Start on College
The U.S. Department of Agriculture estimates the cost of raising a child to the age of 17 for a middle-income family will be about $285,000. That's approaching the median value of a new home in the U.S. If you want to add the cost of...
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Debt Ceiling Drama is Behind Us
Every so often Washington likes to remind us how hard it can be to get things accomplished. The most recent example is the debt ceiling—the amount Congress can borrow to pay its bills. It seems like we have this debate every few...
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Now That the Debt Ceiling is Over, What's Next?
Now that the debt ceiling negotiations are behind us and President Biden has signed the measure, what will Wall Street's wandering eye focus on next?Inflation? Interest rates? Recession? Artificial intelligence?More than likely,...
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Gap Insurance for Leased Cars
One of the attractions of leasing a car is that it generally requires a much smaller upfront outlay of cash compared to what purchasing a car might require.This preference to minimize an upfront cash payment may mean that some...
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Find That Lost Retirement Account
Do you have a long-lost retirement account left with a former employer? Maybe it’s been so long that you can’t even remember. With over 24 million “forgotten” 401(k) accounts holding roughly $1.35 trillion in...
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Four Really Good Reasons to Invest
Forty-four percent of Americans do not own any stocks or stock-related investments, according to a recent Gallup poll.1Individuals may cite different reasons for not investing, but with important long-term financial goals, such as...
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A Checklist for When a Spouse or Parent Passes
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is...
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Why Open a 403(b)
Q: Why should you start a 403(b)? A: It can become one of your best retirement savings vehicles.A 403(b) is a great option for building retirement savings. You can defer a bit of your salary into the account each month, without...
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Market Timing is Exhausting
Market timing must be exhausting. Always moving in and out of the markets based on economic analysis or business headlines must be so challenging.The accompanying chart shows that money held in money market mutual funds rose to $5.1...
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A Taxing Story: Capital Gains & Losses
Chris Rock once remarked, “You don’t pay taxes – they take taxes.” That applies not only to income but also to capital gains.Capital gains result when an individual sells an investment for an amount greater than...
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Your Shifting Risk Tolerance
When you created your investment strategy, your asset allocation should have reflected your goals, time horizon, and tolerance for risk.But over time, any of those three factors may have changed, and your portfolio may now need...
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Understanding FDIC Insurance
It's natural to wonder exactly how a bank safeguards your money. Fortunately, the Federal Deposit Insurance Corporation (FDIC) insurance exists for this very reason: to help protect your funds once deposited. Read on to explore the...
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Building a Solid Financial Foundation
When you read about money matters, you may see the phrase, “getting your financial house in order.” What exactly does that mean?To some, when your financial “house is in order,” it means it is built on a solid...
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A Resilient March
The financial markets’ resilient performance during March was striking, despite pockets of uncertainty surrounding the strength of the economy—and not to mention concerns over the durability of the banking system. The...
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How Will Working Affect Social Security Benefits?
In a recent survey, 70% of current workers stated they plan to work for pay after retiring.1And that possibility raises an interesting question: how will working affect Social Security benefits?The answer to that question requires an...
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Life Insurance at an Early Age
Perhaps you’ve heard the maxim, “Preparation is the key to success.” But when it comes to life insurance, knowing when to prepare is almost more important than the preparation, itself.Sure, it can be difficult to...
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Pay Yourself First
Each month, you settle down to pay bills. You pay your mortgage lender. You pay the electric company. You pay the trash collector. But do you pay yourself? One of the most basic tenets of sound investing involves the simple habit of...
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Rebalancing Your Portfolio
Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach?It may sound counterintuitive, but it may be possible to have too much of a good thing. Over time, the...
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Spring Into Financial Transparency
The time following the month of February has always served as a reminder that Spring is on the way. The days are getting longer, the birds and the bees are doing their thing, and people everywhere are thinking about future travel and...
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Recession Fears Fading?
Investors put the economy on recession watch when the Fed started its “higher in a hurry” push with short-term interest rates in mid-2022.After the 10-year/2-year Treasury curve inverted in July 2022, it was “all...
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8 Mistakes That Can Upend Your Retirement
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.No Strategy: Yes, the biggest mistake is having no strategy at...
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Celebrating Black Wealth Builders Throughout History
In celebration of the achievements of Black Americans and their integral role in our nation’s history, here are eight Black wealth builders we believe should be remembered. These individuals deserve recognition for their...
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Estate Management Checklist
Do you have a will? A will enables you to specify who you want to inherit your property and other assets. A will also enables you to name a guardian for your minor children. Do you have healthcare documents in place? Healthcare documents...
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What Can You Buy With 529 Distributions?
Some of the biggest challenges many face when it comes to education are financial. Luckily, a 529 college saving plan can help. And they're not just for college anymore - added to the tuition eligibility are K-12, private and religious...
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Starting a Roth IRA for a Teen
Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how doing this may benefit both of you.Rules for setting up a Roth IRA. If your teen has an earned...
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Opportunities in 2023
Whether you’re one to set ambitious New Year’s resolutions or simply use the beginning of the year to reset on a few habits, there’s almost always some value in reflecting on the past year before looking ahead. The...
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Outlook 2023: What's Next for Interest Rates?
What does the bond market know that the Fed isn’t telling us? Fed officials recently have said that short-term rates will need to climb to over 5 percent to bring inflation under control. But in the table below, you can see that...
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SECURE Act 2.0: An Overview
In the final days of 2022, Congress passed a new set of retirement rules designed to make it easier to contribute to retirement plans and access those funds earmarked for retirement.The law is called SECURE 2.0, and it's a follow-up to...
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New Retirement Contribution Limits for 2023
The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached...
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Reasons for Optimism
We wish you a happy New Year and hope you were able to close out 2022 with friends and family.The beginning of a calendar year is often the time when the previous year’s reflections transition to a new year’s hopes. Given...
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Consider These 3 Things Before Driving Off the Lot
You can already feel the pedal under your feet, the wheel in your hands, and you can practically smell the new car. But there are three quick things you should consider first.One - Are you buying or leasing the car? About a quarter of...
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Why Small Businesses Are Considered the Lifeblood of the U.S. Economy
Small businesses play a big role in the U.S. economy, and springtime is a great time to recognize their importance. Whether you’re buying Mother’s Day gifts, garden supplies, athletic apparel, books, electronics, lawn and...
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Extended Care: A Patchwork of Possibilities
When it comes to life post-retirement, health care is an important needle to thread. 70% of people turning 65 can expect to need some form of extended health care. While it’s never fun to think about aging, creating a patchwork...
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How to Conquer the World: 5 Financial Strategies for Savvy Single Women
If you’re a woman making all the financial decisions for your household, you’re in the majority. More than half of American women have primary responsibility for household finances. Whether you’re just starting out,...
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The Long Run: Women and Retirement
For women, retirement strategy is a long race. It’s helpful to know the route.What do you want out of life? What’s important to you? What kind of future do you want to build?You have so much to focus on in the here and now....
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When Markets React
When markets take a nosedive even experienced investors can get nervous. But history has proven that the markets are resilient and unsettling events have ben followed by recoveries. For example, the attack on Pearl Harbor in 1941...
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Charitable Giving: Smart From the Heart
Do you have causes that you want to support with donations?Americans are generous people. In fact, Americans give somewhere around $450 billion a year to charity. You may have causes that you want to support with donations. Here are...
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5 Benefits of Working in Retirement
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 33.2 percent by 2029, up from just 25
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Behavioral Finance
Most individuals know that following the markets can be stressful. Behavioral finance looks at how reactive emotions can lead to self-sabotage. Fortunately, there are some habits you can develop that may help you make calm, clear...
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Retirement and Quality of Life
Are you concerned that you’re not saving enough for retirement? We’ve heard all the comments about spending too much on our daily latte, but what if you actually gave it up?Let’s say you place your daily coffee money...
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When Do You Need a Will?
When do you need a will? The answer is easy: RIGHT NOW!You may be wondering if it is time to draw up a will. Even if you don’t have a large net worth, you may want your assets distributed according to your wishes if anything...
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Looking Ahead
October is now behind us and it has delivered on its track record as a historically favorable month for stocks, offering some respite for investors as major equity indices rose for the month. The downside pressure on equities had...
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Annual Plan Limits
The new limits provide increased opportunities for retirement plan sponsors and their employees.Additional information:The term “annual additions” generally means the sum for any year of employer contributions, employee...
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Once Upon a Goal
Do you know how to set up your financial goals for success? We do!The task of setting financial goals seems pretty straightforward. After all, you’ve been doing it for years. But a few smart moves can make success easier to reach...
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Life Insurance at an Early Age
Perhaps you’ve heard the maxim, “Preparation is the key to success.” But when it comes to life insurance, knowing when to prepare is almost more important than the preparation, itself.Sure, it can be difficult to...
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Long-Term Care Planning Month
Long-term care insurance is an important topic that involves complex and careful consideration. Regrettably, it’s usually something people don’t think about until it’s too late. I’d like to help change that...
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Navigating Retirement Pitfalls
Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to plague retirees, too.Calling them “missteps” may...
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Could the Worst be Behind Us?
First, we want to acknowledge the tremendous damage and displacement caused by Hurricane Ian. Our thoughts are with those impacted by this devastating storm.This has clearly been a challenging year for households. Stocks and bonds are...
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Financial Planning Month
October is National Financial Planning Month. Why should you work with a financial professional?Help with Cash Management – A financial professional can help you create an emergency fund: money that’s set aside for...
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Better Times Ahead
In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates, and we thought it was an important time to take stock with the final quarter of 2022 just...
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"Smart Money" on Interest Rates
Have you ever heard the expression, "What's the smart money doing?" "Smart money" is an expression that often refers to experts and suggests that well-informed people have a better perspective on current events and what actions to take....
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Recession or Growth Scare? Your Guide
I’m hearing a lot of mixed messages these days about the economy. Some headlines say we’re already in a recession; some say one is looming. Others hint that we’ll avoid a recession and have a soft landing. It makes...
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These Months are More Volatile Than Others
We’re entering a tricky time of year: September and October have a reputation for bringing an extra measure of market volatility.Some of the stock market’s most challenging events have hit in September and October, and...
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Assess Life Insurance Needs
If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances.In fact, according...
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School's Back. Who is Paying for it?
Schools across the nation are getting back to business. For students, it’s a return to education after vacations, summer jobs, and other activities.For parents, grandparents, and guardians, “back to school” often...
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Women and Financial Strategies
Forty-four percent of American women are the primary breadwinner in their house.1 Yet only 10% of women feel very confident in their ability to fully retire with a comfortable lifestyle.2Although more women are providing...
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Orchestrating Your Retirement Accounts
An orchestra is merely a collection of instruments, each creating a unique sound. It is only when a conductor leads them that they produce the beautiful music imagined by the composer.The same can be said about your retirement strategy...
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Insurance Needs Assessment: For Empty Nesters and Retirees
With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power and fast approaching peak savings as you lay the...
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3 Shrewd Maneuvers in a Down Market
It’s natural to think “defense” during a bearish market season. But why not mix in some “offense” with your defense? Here are three moves we can discuss together that may be helpful during the current...
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Unpacking the Summer Economy
In the financial world, some weeks are more important than others, and we just lived through a big one. Let's unpack each of the four key stats:The Fed. As expected, the Fed bumped up short-term rates again at its July meeting....
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Important Birthdays Over 50
Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last.When you are older, “and-a-half”...
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Inflation Creeping into Personal Finances
If you have a balance on a credit card or an adjustable rate mortgage, you might be noticing changes in your payments. Higher interest rates are starting to ripple through the personal finance landscape, and it doesn’t look like...
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Care for a Cola with your Social Security
As you might have heard, people are talking about a big bump in Social Security benefits next year.The Senior Citizens League says payments could rise by as much as 8.6 percent in 2023, compared to an increase of 5.9 percent in 2022....
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When Bears Are Loud, Consider This
Some gloomy headlines are coming out of Wall Street lately. Have you noticed?In recent days, I’ve read things like “Brace yourself for economic hurricanes” and “Wall Street investor survey paints a dire outlook...
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Looking Ahead
As the calendar has turned to July, investors would certainly like to forget the first six months of 2022. However, the Fourth of July Independence Day holiday does bring with it reason for celebration. Not only is it the 246th...
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Searching for the Goldilocks Economy
At the risk of slowing economic growth, the Fed has driven short-term rates higher to rein in inflation. But it’s a tricky proposition.Raise rates too much, and you may trigger a recession. Don’t raise rates enough, and you...
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How to Keep Your Identity Safe
In case you didn’t know, June is National Internet Safety Month. With nearly 4 billion people on social media worldwide, plus the risks of using online brokerage and bank accounts, the need for digital security has never been...
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Helpful Retirement Strategies for Women
Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and...
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A Decision Not Made is Still a Decision Made
Whether through inertia or trepidation, investors who put off important investment decisions might consider the admonition offered by motivational speaker Brian Tracy, “Almost any decision is better than no decision at all...
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In Depth College Planning
Remember when a college education was reasonably priced? In the past 20 years, the cost of college tuition for public universities has risen 165%. College students and their families have been taking on more and more debt, and...
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Retirement Seen Though Your Eyes
How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to...
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Comics, Collectibles & Coping with Calamity
Rare collectibles can provide an entertaining form of alternative “investment,” and might seem particularly intriguing when markets are wobblier than Aunt Gertrude’s jello salad. Comic books can sell for millions of...
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Retirement Choices for Small Businesses
As a small-business owner, figuring out retirement choices can be a little intimidating. How do you pick the most appropriate retirement plan for your business as well as your employees? There are a number of choices when creating...
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"Unretiring" to Stay in the Game
Knowing when it’s the right time to retire can be difficult, especially if you love your job. Even professional athletes have a hard time knowing when to walk away! These athletes thought they were ready for retirement but...
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2022 Has Been a Challenging Year
2022 has been a challenging year for investors so far. The S&P 500 Index just had one of its worst Aprils in decades, and May is off to a rocky start. Bond investors have not fared much better as rising interest rates have pushed down...
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Help Prevent Yourself From Identity Fraud
This week we have been hosting a FREE SHRED EVENT for our clients to be able to help them protect themselves from identity theft. You might be thinking, well how is shredding personal documents going to help me from identity theft? Any...
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Choosing a Retirement Plan That Fits Your Business
If you have yet to develop a retirement plan for your business, or if you're not sure the plan you've chosen is the right one, here are some things to consider. How much can my business afford to contribute? The cost of contributions...
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Will Power
Only one-third of adults have a will in place, which may not be entirely surprising. No one wants to be reminded of their own mortality or spend too much time thinking about what might happen once they’re gone.1 But a will is an...
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A Ways to Go
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” - Sir John Templeton According to the guidance of revered investor Sir John Templeton, it appears to us that this market...
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April is Financial Literacy Month
April marks the start of Financial Literacy Month, a nationally recognized movement to promote and support financial understanding in children and teens. For many, it's a fantastic opportunity to teach and connect with their children...
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What's This Talk About a Recession?
In recent weeks, the word recession has started creeping into business news and financial market coverage. Is that cause for alarm or just another attention-grabbing headline? There’s no simple answer. A recession is defined as...
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Inflations Overreach
What do The Dukes of Hazzard, M*A*S*H, and The Love Boat all have in common? They were top-rated television programs in 1982; the last time inflation was hovering in the 7% range. When inflation is running hot, you can feel its...
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Does Your Child Need to File an Income Tax Return?
As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS does not exempt...
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Consumer Confidence at the Pump
The latest Consumer Price Index (CPI) report was recently released andconfirmed what economists anticipated: consumer inflation has risen 7.9%over the past year, the largest spike since 1982— none of which is asurprise for anyone...
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Budget Check Up: Tax Time is the Right Time
Tax preparation may be the only time of the year that many households gather all their financial information in one place. That makes it a perfect time to take a critical look at how much money is coming in and where it’s all going.
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Navigating Geopolitical Tensions
The green shoots are hard to see right now as spring approaches, clouded by war in Ukraine. Democracy is under attack and innocent lives are tragically being lost. But while we keep one eye on overseas developments, the other remains...
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February 24th: Market Update
Stocks have gotten off to a very rocky start in 2022, with the potential for Federal Reserve rate hikes coming and the geopolitical worries over Russia and Ukraine only adding to the uncertainty.
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Should I Pay My Debts or Save for the Future
A question we get asked often is should I pay my debts or save for the future? Managing your budget while saving for the future can often times feel like a balancing act. However, with the pandemic and the stress that has come with it,...
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Insure Your Love in February
If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according...
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Choices for Your 401(k) at a Former Employer
One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account.¹ Individuals have four choices with the 401(k) account they accrued...
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Volatility
The calendar had barely flipped to 2022 and investors were reminded that even attractive long-term stock returns come with a cost: volatility. The S&P 500 Index fell nearly 10% from January 3 through January 27 amid fears that the...
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Five Saving Secrets
Are you saving for the future? People often come to me asking for financial guidance. Some want to know how to invest or diversify the money they’ve saved, but others admit to me they’re just not sure how to save. If...
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Stocks Have Gotten Off to a Tough Start in 2022
We think the most important thing to remember is that periodic stock market volatility is entirely normal. Historically, the S&P 500 Index has averaged three pullbacks of 5% or more per year and one correction of more than 10% annually.
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2022 Contribution Limits
Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs)...
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Have You Been Thinking About Life Insurance?
In our uncertain climate, it’s unsurprising that when American investors are thinking about their financial strategy, that the topic of life insurance comes up.For some, it’s always been front of mind. For younger investors...
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Financial Goals for 2022
If your financial plan for 2021 didn't work out just the way you wanted it to, you could change that for 2022. Ask yourself why you didn't hit your goals, learn from those mistakes, and work harder for 2022! Did you meet your financial...
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Stock Market Outlook 2022
We expect solid economic and earnings growth to help stocks deliver gains in 2022. When forecasting stock market performance, we start with the economic cycle. We believe we are currently approaching—or are already in—the...
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The Latte Lie & Other Myths
Sometimes the ideas we take for granted start to fall apart when we take a closer look. Which of these personal finance myths have you heard? Myth 1: “Giving up my lattes today will let me buy that Porsche tomorrow.” The...
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When Do You Need a Will?
You may be wondering if it is time to draw up a will. Even if you don’t have a large net worth, you may want your assets distributed according to your wishes if anything should happen to you. And if you are married or have...
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The Cost of Procrastination
When investing for retirement and other long-term goals, you want to put time on your side. The sooner you begin investing the longer your money can work for you. But it’s easy to procrastinate. Let’s take a look at when...
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Consider These 3 Things Before Driving Off the Lot
You can already feel the pedal under your feet, the wheel in your hands and you can practically smell the new car. But there are three quick things you should consider first. One, are you buying or leasing the car? About one-third of...
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Don't Buy the Hype
We’ve all heard the rumors about social security. “If you keep working, you can’t collect benefits.” “The program is going broke.” And the old standby, “You’ll never get back what you put...
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Your Emergency Fund: How Much is Enough?
Everyone has heard of the term “emergency fund” but what does it really mean? To most, it means having the money required to pay for emergencies if they were to appear. For example, the water heater stops heating, the...
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The Junk Drawer Approach to Investing
We’ve all got one. A drawer full of all types of things: batteries, paperclips, old power cords, little bits of string. Things that, on their own, are useful, but together, make a mess. It’s easy to let our investments...
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Rightsizing for Retirement
Most Americans believe a home is a safe investment with lots of potential. But it may be time to take a closer look at what your home really costs. 29% of Americans in their late 50s or early 60s have a mortgage or a home equity debt,...
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American Families Plan: 1.8 Trillion Plan to Invest in Human Infrastructure
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Is a SEP IRA Right for Your Business?
If you're like many small business owners, running your own business is an all-consuming endeavor. In the face of everyday demands, choosing a retirement strategy for your business can become a casualty. The idea of establishing a plan...
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Options for Your Assets
If you have changed jobs, been offered a pension buy-out, retired, or are getting ready to retire, you have a very important decision to make about the assets in your former employer’s retirement plan. A variety of distribution...
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Investor Sentiment Is Shifting
A recent survey shows that 63% of investors are more interested in protecting their financial assets and planning for uncertainty in the future than anything else.1There are many reasons for this change, but here are a few of the most...
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Assess Life Insurance Needs
If your family relies on your income, it’s critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. In fact, according...
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Keeping Up With the Joneses
It’s a curious fact of life that as your income grows, so, too, can your expenses. More money earned may turn into more money spent. But is all the sjavascript:Wepending really necessary? One study found that money makes us happy when it...
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“Green Shoots” in the Economy
Investors looking for "green shoots" to confirm that the economy is on the mend have seen plenty of examples in recent weeks. Retail sales rose 9.8% in March, the largest monthly gain since May 2020. It's important to remember that...
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Organize Your Files Week
It’s time to crack open your files, because this week is National Organize Your Files Week! Isn’t it frustrating and stressful looking for paperwork? Now you know why this is important to do this week. To help you battle...
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Supporting Local Business in a Crisis
Want to ensure your favorite local spots are around after the pandemic? Here’s what you can do to help! Social distancing has had a major impact on local business owners and employees. Many restaurants, retail stores and other...
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Helpful Retirement Strategies for Women
Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they accumulate less income and benefits...
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The IRS Extends Additional Tax Deadlines for IRAs, HSAs, and More
Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021.1More time for allHowever,...
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What to Do When You Lose Your Wallet
Ever lost your wallet? It can be frustrating. For one reason or another, your wallet goes missing. One study found that only about half of lost wallets are returned. But there are things you can do to keep yourself safe. First, take an...
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It’s All About Bonds
There’s an old Wall Street maxim that says, “markets climb a wall of worry.” And these days, there’s plenty to worry about with the trend in long-term interest rates.The 10-year Treasury yield in recent weeks...
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How to Know When to Save for Your Child's Future or Yours
Many parents feel that it is more important to save for their child’s education and future rather than for their own retirement, but many financial advisors would disagree. Saving for your own retirement is more important than...
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I.R.S. Delays Tax Filing, Payment Deadlines
Less than one month ahead of the traditional date, the I.R.S. has delayed the deadline for filing and paying taxes. The new deadline is May 17, 2021.1,2,3The delay follows continued disruption from the COVID-19 pandemic and a late...
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Risk Tolerance: What's your Style?
What does risk tolerance really mean? If you were going to climb a mountain, how would you get to where you want to go? Would you climb directly to the top using a harness and rope? It may be the quickest way, but it’s not...
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Retiring in a Post-Pandemic World
We’ve weathered a lot of unexpected changes recently. With over 50% of employed Americans working from home according to Zapier.com, embracing the shift in our day-to-day, maintaining relationships, or even confronting an...
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Dreaming Up an Active Retirement
As Americans are living longer, hopes and plans for retired life are changing. Today, many see retirement not as an end, but a beginning of a new chapter in an already fruitful life. A recent Transamerica Center survey shows that 86%...
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Changes to Paycheck Protection
On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those...
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What is Compound Interest?
What is compound interest and why does it matter? Compound interest is when the interest that accrues on an investment is added to the principal and then future interest accrues on the total amount. It is easiest to think about as...
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Oil Prices on the Move
At this time last year, it was still unknown that a deadly global pandemic was on the rise, eventually stalling economic growth and sending crude oil prices into negative territory. But recently, oil prices have surged, with crude...
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Choices for Your 401(k) at a Former Employer
One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account. Individuals have three basic choices with the 401(k) account they...
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Personal Savings Rate
The personal savings rate in the United States, which is the amount of income left after taxes and household spending, has reached some significant milestones. In April, when much of the country stayed home to avoid the COVID-19...
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How Soon Might the Stimulus Arrive?
While many in the United States are beginning to receive vaccinations and people are starting to foresee a life after COVID-19, it remains clear that things aren’t yet back to normal. As a result, there has been a great deal of...
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Long Term Care Coverage can be Complex
Long-term care coverage can be complex. Here’s a list of questions to ask that may help you better understand the costs and benefits of these policies. What types of facilities are covered? Long-term care policies can cover...
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Rebalancing Your Investment Portfolio
What is Rebalancing Your Portfolio? Rebalancing simply means returning your portfolio to your desired investment rations. In the investing world, this target balance of different investments is called asset allocation. Depending upon...
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Roth IRAs for Young Adults
There is truly no better time to start investing than right now. The more time you have to invest, the better! As a young adult, you have more time and energy to put into learning about ways to start building the retirement of your...
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3 Types of Savings Accounts All Working Adults Should Have
In general, we spend too much and save too little, or nothing at all. Every adult should be able to claim they have three different types of savings accounts: an emergency fund, a retirement account and a savings account. Emergency...
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Interest Rates and Your Mortgage
With the Federal Reserve keeping interest rates at or near zero, you may wonder about your mortgage. Is it a good time to refinance or even pay off the debt entirely? After all, your mortgage is one of the biggest expenses you may have...
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National Get Organized Month
January is National Get Organized Month! When it comes to New Year’s Resolutions, getting organized is high up on people’s lists. Whether that is organizing your closets or your finances, getting organized will help set up...
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2021 Financial Resolutions
With the New Year coming, it is time to make our yearly resolutions! Here are some financial resolution ideas: Start Investing If you have not, start now. Now is better than later when it comes to investing because of the power of...
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Start Investing with Just $150!
Many people believe that you need a ton of money in order to invest and make your money grow. However, with as little as $150 and $50 a month after that you can get your investing started early by opening an account. A great way to...
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Roth IRA Rules for 2021
Here are some Roth IRA Rules you need to know for 2021. You can contribute up to $6,000 if you are under the age of 50 and can contribute an extra $1000 ($7000 total) if you are 50 or older! This is the same rule as 2020 & 2021. You...
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What is a Health Savings Account?
As health care costs continue to rise faster over time, families are looking for more affordable options wherever they can find them. Often, lowering their premium means raising their deductibles. A Health Savings Account (HSA) is a...
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Let's Simplify the Holiday Season
There is no doubt that the holiday seasons can be overwhelming and stressful especially this year due to the COVID-19 pandemic. Families are working out the kinks on how to stay safe while celebrating the holidays. Everyone is tired of...
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Maxed Out Your Work Retirement Plan? We Can Help!
If you have already reached your retirement contributions limit for the year (or will soon), congratulations, that is a great problem to have! Let’s First Look at IRA’s Contributing to an IRA, in addition to your retirement...
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Why It's So Important to Review Your Portfolio Each Year With Your Financial Advisor
Every fall, before the start of the holiday season, I take time to review my financial goals, evaluate my yearly charitable donations, and consider my savings vs. spending strategy. Have you had the chance to review your finances this...
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Long Term Care Awareness Month
November is Long Term Care Awareness Month, the month-long campaign aimed at educating Americans about the importance of owning long-term care insurance. As we move into the holiday season and see the New Year on the horizon, there...
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National Scholarship Month
November is National Scholarship Month! It is dedicated to raise awareness of scholarship opportunities for current and future college students. Now is a great time to begin applying for those scholarships. Grants and scholarships are...
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National Retirement Security Week
National Retirement Security Week is dedicated to raising awareness about the importance of saving for retirement. It is held annually on the third week of October. According to a recent survey of 1000 Americans by Ubiquity Retirement...
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National Savings Day
It is National Savings Day! Today we recognize those who value the act of saving. Getting started on saving is not as difficult as it may seem. Here are some tips & tricks on how you might be able to save more money! Budget Budgeting...
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Long-Term Care
Let’s be frank. Nobody enjoys talking about Long-Term Care insurance, (LTC). However, by some estimates, 7 out of 10 people turning 65 will need LTC at some point in their lives. You might believe that LTC only covers nursing...
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Financial Planning Month
October is Financial Planning Month, which serves as a useful, annual checkpoint to make sure you are on track to meet your long-term financial goals. The most common financial goals I hear from clients are...
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Life Insurance Awareness Month
Buying life insurance may sound like one of those things that your parents do. But chances are they purchased it when they were younger... maybe even when they were your age. At Prinvest Advisors, we understand that life can get busy....
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National College Savings Month
National College Savings Month September is National College Savings Month! Oftentimes, families do not consider the cost of college until it is time to start looking at schools for their child. It is never to late to start saving for...
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