Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little easier knowing you have an estate plan in place. While an estate plan is personalized to the wants and needs of each person, here are a few tips to help anyone get started.
This blog will celebrate American Housing Month, give an outline of the holiday's history, and talk about how important home ownership has been in our country’s history.
More often than not, retirees have retirement concerns that focus on their goals and whether or not they have the finances to work towards those goals. Since finances and other important matters tend to occupy the mind during retirement years, this may mean you find yourself forgetting about self-care, such as incorporating exercise into your daily routine. Exercising during retirement could pay off with several benefits you may have not considered. Below are some of the benefits regular exercise in your retirement years may offer.
Those that choose to invest in the education of a family member, friend or acquaintance are investing not only in that individual’s future, but also the future of society. It is an act of generosity, forward-thinking, and love. However, this type of investment can be more complicated than initially thought. Which plan should you choose and how do you decide? Here are some key details about 529 plans and other education savings options to help you decide which plan is appropriate for you and your loved ones.
One of the important decisions a business owner must face is when and how to step out of the business — in other words, business succession planning. Do you expect to retire from your business? Do you have a plan in place? What would happen to your business if you were to die today? Do you have children you hope to bring into the business? These are questions only you can answer, and your answers will lead you and your financial and legal advisors to a course of action.
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.
Financial planning is the process that can help you pursue your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources.
Generational wealth encompasses financial assets with a monetary value. These include investments, real estate, land, cash, collectibles, etc., that are passed from generation to generation. Why does wealth seem to disappear within three generations?
When market volatility takes investors on a wild ride, fear and panic are common responses to this stock market roller coaster. Acknowledging these emotions may be a good first step, but acting upon them could result in impulsive, irrational decisions. Many experts warn investors to never let emotions drive their investing decisions but that’s easier said than done.1
You may have spent years planning to race down the retirement highway and ride off into the sunset, but unexpected hazards ahead could potentially turn a smooth trip into a bumpy ride. Spot the warning signs and steer clear of these 13 retirement potholes to help prepare you for your journey on the road to retirement.
As you age, the question of when to collect Social Security (SS) retirement benefits will likely come to mind. There is no one size fits all age; your unique circumstances and goals will dictate the appropriate time for you to take Social Security retirement benefits. Some SS strategies may boost your monthly benefit amount, helping you get the most from your SS benefits
In golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying lessons from the golf course to your financial life and vice versa may help you improve your game in both arenas.
Tax season can be a stressful time for many people, especially if you're not fully prepared. However, with some advance planning and preparation, you can take steps to mitigate your tax bill for the upcoming year. Here are 7 things you can do now to trim your 2023 tax bill.
Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged accounts, it's worth taking a closer look at your retirement savings. Below, we discuss three ways to refresh your retirement plan this spring.
Financial independence is an important goal regardless of your age, partnership status or stage of life. It allows you to remain self-reliant and prevents you from being controlled by others. And even if you have not always approached your marriage or partnership with financial independence in mind, it is never too late to start.
When it comes to personal finance, there are a number of competing priorities that can make it difficult to determine where to focus your efforts. For many people, the choice between building emergency savings and working towards their retirement goals is one of the biggest dilemmas they face. So, which should you focus on first?
In the U.S., men are investing and accumulating wealth at a greater pace than women, fueling the gender investing gap. Closing the investing gap is essential so that women accumulate enough retirement assets for their entire lives. On average, women in the U.S. have a life expectancy of 80.2 years compared to men having a life expectancy of 74.5 years, according to WorldData.info. Women must be active investors to accumulate more retirement savings to last their long lives.
Tax season is upon us, and it's time to get your financial house in order. Whether you are filing as an individual or a business owner, it's essential to understand your tax obligations and make sure you are taking advantage of all available deductions.
If you work after you begin receiving Social Security retirement benefits, all or part of your retirement benefit may be withheld if your earnings exceed the retirement earnings test exempt amount. However, excess earnings won't affect your benefit once you reach full retirement age, and it's possible to time your earnings in retirement in order to optimize your benefit before full retirement age.
As people begin to age, having worked hard their entire lives and accumulated significant wealth in savings and investments, it becomes very important for many to evaluate strategies for leaving their wealth to loved ones. Luckily, there are a few options that allow you to give significant sums of wealth to anybody you want up to a point without the tax burden coming into play.
