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The Business Owner’s Guide to Social Security: Planning for Your Future
Yes, even if you are a business owner or self-employed, you can receive Social Security benefits as long as you have been paying Social Security tax each year. The Social Security Administration defines you as self-employed if you...
Read MoreWealth, Success, and Mental Health: Finding the Balance Between Wealthy and Healthy
April marks Stress Awareness Month, which provides a great opportunity to shed light on a topic often overlooked in the world of high-net-worth investors, which is mental health. For anyone who is used to managing substantial wealth,...
Read MoreHere Are 10 Ways a Financial Professional Can Assist You
Often, there is a misconception that seeking financial help indicates incompetence or lack of financial self-sufficiency. However, seeking help is the exact opposite. High-performing individuals who excel in their respective fields...
Read MoreSocial Security Isn’t Enough: How Social Security Fits into a Well-Rounded Retirement Plan
If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that your Social Security benefit would not be enough to sustain you in...
Read MoreBuilding Credit Confidence: Empowering High-Earning Women on the Path to Financial Success
Establishing and managing credit is a crucial aspect of financial well-being, and confidence in this realm may help you unlock a broad range of future opportunities. Here are five empowering ways to help you build credit confidence.
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Managing Your Money: Top Financial Habits for Women Entrepreneurs
Today, there are an estimated 12.3 million women-owned businesses. To give that some context, approximately 43% of entrepreneurs worldwide are women. A study conducted by Fidelity Investments showed that women are often less prepared.
Read MoreWhy Women are More Savvy Investors than Men
While women are sometimes considered to be more reluctant to invest than their male counterparts, when they do invest, they tend to outperform males and often get a greater overall return.
Read MorePearls of Wisdom: Wealth Preservation for High-Net-Worth Women
Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial.
Read MoreRoth Contributions IRA Conversions
ROTH IRAs are good retirement savings accounts. While you can't deduct contributions to a Roth IRA now, the beauty of these accounts is that earnings inside the account grow tax-deferred! Payouts of earnings after age 59 ½ are...
Read MorePotential Factors to Consider for Investors in 2024
With the New Year comes updated insights to 2024. The following summarizes the key economic pointers that may affect investors this year. “Setting the Stage:” Financial markets start 2024 with a solid...
Read MoreHow Portfolio Diversification Can Be Sweet Like a Box of Chocolates
Diversification mitigates the potential for unsavory pitfalls while offering a variety of suitable outcomes. In this article, we explore portfolio diversification by using concepts related to chocolate to make it more understandable.
Read MoreRetiring Early As a Couple: A Financial Love Story
Retiring early as a couple is a goal shared by many, and if planned comprehensively, it may provide opportunities for travel, passion projects, and more quality time together. Retiring simultaneously can bring many benefits.
Read MoreCaring For Your Family Members While Preparing For Retirement
The newest generation of upcoming retirees is facing a more unique and prominent dilemma than past generations have experienced: caring for family members at the same time they’re preparing for retirement.
Read MoreLegacy of Love: 10 Questions to Help Families Prepare for a Wealth Transfer
Wealth transfer is more than just a financial transaction; it's an opportunity for families to pass on their values, wisdom, and a legacy of love. Navigating this process requires careful consideration & open communication.
Read MoreFinancial Resolutions for Individuals Nearing Retirement
Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to...
Read MoreDeciphering the New Age of Required Minimum Distributions: Strategies for Savvy Investors
The landscape of retirement finance is often complex, and the latest revisions to the rules governing Required Minimum Distributions (RMDs) underscore this point. With the introduction of the Secure 2.0 Act, investors must adapt to new...
Read MoreAre You Prepared for Taxes?
Tax season is just around the corner – now is a good time to start doubling down and check everything in your account is correct so there is less chance of any hiccups when filing. Start With Your Income Statements The best tools...
Read More5 Financial Bad Habits to Cut This Year
When it comes to financial bad habits, the most common are also well known — don’t spend too much, don’t take on unsustainable debt, and avoid living paycheck to paycheck. But what happens once you’ve...
Read More8 Financial Wellness Tips to Help Manage Generational Wealth
Asset management and financial wellness can help develop long-term confidence when wealth transfers from generation to generation. Understanding and implementing financial wellness techniques is essential for effectively sharing wealth...
Read MoreYear-End Tax Planning Considerations for Capital Gains
As the end of the year approaches, investors need to focus on tax-related considerations, particularly regarding capital gains. Year-end tax planning can help investors manage their overall tax liability while seeking to manage...
Read MoreWomen and Philanthropy: A Guide to Giving
Women have been givers since ancient times. They often give with their heart and soul to support projects that improve society. In our modern times, successful women are now finding themselves in positions that allow them to become...
Read MoreThe Grinch vs. Santa Claus – Who is the better investor?
The holiday season is a time of generosity, kindness, good cheer, presents, food, family, and fun. In Dr. Seuss’s classic story, How the Grinch Stole Christmas, The Grinch was intent on ruining, well, all of it. He would...
Read More10 New Year’s Resolutions for You to Think About
A David Letterman-inspired Top 10 List from your financial professional Make Your Year Matter Well, if you’re like me, you will be thankful to make it through another holiday season, with at least most of your sanity left. For me...
Read MoreFinancial Planning Tips for High-Earning Women
When it comes to saving for retirement, women may have extra challenges, even those with a higher-than-average income. For retirement planning, CNBC reports that women save less than men. The pandemic worsened matters, with more than 2...
Read MoreYear-End Planning for Retirees
As we approach the last quarter of each year, it is a good time to plan for the next one. Year-end planning is especially important for existing retirees and those hoping to retire in the next few years. There are tax and income...
Read MoreWomen, Don't Sell Yourself (Or Your Business) Short
It is no secret that women are less likely than men to apply for jobs that they see as long shots—indeed, one recent survey indicated that more than a quarter of women are unwilling to apply for any job where they have less than...
Read MoreThanksgiving Recipe Share: Grandma's Apple Pie
Happy Thanksgiving everyone! In honor of the holiday, I wanted to share with you all one of my favorite recipes - my grandma's apple pie. Ingredients: - 1 double pie crust - 9 cups thinly sliced, peeled, and cored apples (Granny...
Read MoreCharitable Giving: How Small Business Owners Can Make a Big Impact
Charitable giving is an excellent way for businesses to help others while taking advantage of additional tax breaks. Billions of dollars are given each year in the U.S. to a wide range of charities providing valuable community services...
Read MoreA Fall Financial Checklist
For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It’s also a bookmark of sorts, especially for your finances—a perfect time to take stock of your spending after the..
Read More4 Unique Opportunities for Women Business Owners
The National Women's Business Council estimates that there are more than 13 million women-owned businesses in the U.S., generating nearly $2 trillion in annual revenue.1 To aid in these impressive efforts, many governmental and...
Read MoreInvesting vs. Saving: Key Differences and Why Your Money Mindset Matters
You often hear people discuss "saving for retirement,” but in many cases, they're actually referring to their investing. The adage "you can't save your way to wealth" is simplistic, but has a kernel of truth; putting your money...
Read MoreResources for Women-Owned Small Businesses
Small businesses face many problems related to their size, capital, and capability, and for women-owned small businesses, the challenge is sometimes even greater. The good news is there are many professional organizations out there...
Read MoreWays to Help Seniors
Pew Research Center Estimate of U.S. adults in 2020 over age 59 were living alone, and that number is growing every day as baby boomers Age. The good news is there are many resources available to seniors. Unfortunately, those living...
Read More5 Milestones That Mean It's Time for a Life Insurance Review
Obtaining a life insurance policy is part of being an adult. But it’s also something that you can easily neglect, especially if you obtained it earlier in adulthood. You should review it when you reach these milestones.
Read More5 Tips for Navigating Medicare in Retirement
One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may derail your retirement plan. Though navigating Medicare is a little tricky, these tips can make the process less daunting.
Read MoreWomen Who Mean Business: 7 Secrets of Successful Businesswomen
Many women in leadership positions continue to see success despite challenges women face when striving for equality in the workplace. Here are some strategies for claiming a place at the table.
Read MoreUse the Power of Positive Thinking to Improve Your Life
A “good day” starts with positive thinking. A negative mindset translates into bad thoughts that will adversely affect our mood. An optimistic mindset can be easily achieved.
Read MoreRenters Insurance for College Students Can Provide Peace of Mind
Your incoming college freshman student is raring to start, and all the dorm gear has been ordered or is already boxed up and ready for move-in day. A new laptop, printer and smartphone, not to mention him special and linens, the...
Read MoreWhat to Do With Unused 529 Plan Accounts
529 plan savings is one of the best ways to save for education. The contributions go in after taxes but grow tax deferred until withdrawn. When funds are withdrawn for qualified expenses, they are tax-free. The downside, if...
Read MorePros and Cons of Roth Conversion
Because of retirement-related federal legislation passed in the last few years, many individuals are considering converting some or all their traditional IRAs to Roth IRAs. One major reason is that most beneficiaries of traditional...
Read MoreLessons from a Summer Job
Pat shares valuable lessons for young adults, kids, and teenagers who are working a summer job.
Read MoreLessons from a Summer Job
More than one million kids have joined the workforce this summer – many holding down a job for the first time. Many jobs well-suited for teens and young adults – better than minimum wage salary, requiring little or...
Read MoreThe Challenges Facing Women Entrepreneurs
Despite promising figures, the pathway to financial access and stability is still rocky for America's women business owners. We dig into this topic for women entrepreneurs.
Read MoreElder Law or Estate Planning: Do You Know the Difference?
The demand for community living and estate planning services may increase over the next few decades. Do you know what arrangements you need to make when the time comes? What are the differences between elder law and estate planning?
Read MoreReading, Writing, and Education Planning
Kids and adults are going back to school, and paying for it can feel like climbing up an unending hill. The earlier you start saving, the easier it will be to pay for college. Here are some college planning tips.
Read MoreThe Best Investment: Teaching Your Children to Save and Invest
Making investing possible for your children, nieces, nephews and other loved ones may be the key to improving their financial future. Here are a few ways to help your children develop good habits regarding saving and investing.
Read MoreWellness in Retirement: The Benefits of Social Wellness for Retirees
In retirement, it is sometimes necessary to create new social connections and a new social network, especially if you relied on work for your socialization.
Read MoreHealth Insurance Made Simple
Most U.S. citizens and legal residents must have qualifying health insurance or face a penalty tax. Yet the cost of medical care is soaring higher every year, and it's becoming increasingly difficult to pay medical costs out of pocket.
Read MoreTips for Women Who Are Living in the Sandwich Generation
As more women have children later in life and more parents live longer, the ranks of the sandwich generation are likely to grow.
Read More10 Tips to Work Toward Financial Freedom
Financial freedom is essential to being financially secure and meeting your goals. Here are ten tips.
Read MoreWhere Do We Go From Here
The S&P 500 has been parked in a trading range around 4,100 for six weeks now. The Cboe Validity (VIX) is stuck at 17 except on the days that the shorts make a run at the west coast banking stocks. The 10-year U.S. Treasury yield has...
Read MoreThe Latest In Long-Term Care
Devastating Effects of Long-term CareWe plan for a lot of “what if questions” such as the cost of a new roof, replacing a car in five years or even the death of a loved one. Nothing can be more devastating than the impacts...
Read MoreDon't run for the hills!
The negative headlines for Credit Suisse continued this morning, when they really need to stay out of the spotlight and rebuild some credibility. Unfortunately, situations like this can fast become self-fulfilling and every...
Read MoreTeaching Kids About Money Management
Managing money is a concern for all. At some point, we must begin paying for such thins as rent/mortgages, buying food, while we start earning an income. It's never too early or too late to start implementing money...
Read MoreMarket Updates
We wanted to take a minute to highlight our LPL Research team in their latest edition of LPL Market Signals that we find hits many key points to consider in the ever-changing market climate.Some key points include:Despite the recent...
Read MoreCollege Saving: Flexibility or Control
Many of my clients have heard my speech on the two basic ways to save for college: “Do you want flexibility or control?” Flexibility: The Uniform Transfers/Gift to Minors Act (UTMA/UGMA) which is a savings...
Read MoreSECURE 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...
Read MoreThree Things to Know about Recessions
Today our LPL Research team has highlighted the recession discussion in it's weekly market commentary (link provided below).Here's some key points to consider:If the economy enters a recession, the causes and potential outcome will be...
Read MoreTime to Start the FAFSA Application
When my son graduated from UVA about 20 years ago, I shook the President’s hand and I said, “this handshake cost me $40,000.” Today the cost is closer $120,000 to $160,000. And I can get into the debate on loan...
Read MoreTough Week for Market & Thoughts on Investor Fears
This week in the market has been tough, even for the most seasoned investor. The never-ending “noise” we’re hearing on the news doesn’t bring much positivity, despite us moving into cooler weather and the...
Read MoreTax-Free vs. Tax-Deferred Growth
An IRA – it’s great retirement savings but remember how an IRA works: one receives a tax break now on the investment but must pay the taxes on the total amount invested plus all its earnings later when your money is...
Read MoreWhat to Make of Last Week's Financial News
We've been keeping a close watch on financial news this past week, and there has been a lot to cover – let's review some of the highlights.Indicators we are continuing to watch…The Fed raised short-term rates by 0.75%,...
Read MoreMarket Perspective - Fed's Move on Inflation & Quantitative Tightening
Equities have been sliding since the beginning of the year as markets come to terms with the twin dragons of higher inflation and rising interest rates plus supply chain problems. For June, a capitulation move appears on the way with...
Read MoreFed Continues to Focus on Inflation
The following information is provided by Jeff Buchbinder, Certified Financial Analyst (CFA) and Equity Strategist at LPL financial research:A bear market is officially here thanks largely to stubbornly high inflation. For many of us,...
Read MoreStock Market Update
It's not surprising with all the news to find we are experiencing major market corrections after three years of unprecedented growth between 2019 through 2021. Our expectations were elevated to unreal expectations that burst at the...
Read MoreTen Things to Know about Bear Markets
Even elite athletes need rest days to stay healthy. Sometimes financial markets need to reset from record-setting performance, too. Here’s what you need to know about bear, or down, markets.1. Watch for 20%: Market...
Read MoreEconomy & Market Updates (5/25/22)
THE ECONOMY & MARKETAs of May 25, 2022 While it’s no surprise with all the news, the market is volatile this year. However, the economy is healthy and that’s the key to moving forward. Expect...
Read MoreBe Safe for Cyber Holiday Shopping
With the holidays JUST around the corner, we wanted to send out a few useful tips for online shopping; especially with the ongoing rise in cyber criminal activity infiltrating our computers. There are days that savvy shoppers look...
Read MoreInflation, Quantitative Easing (QE), and Growth
Quantitative Easing (QE) is the Fed buying bonds to keep interest rates down and provide the economy with liquidity to continue doing business given impacts of Covid – 19 to businesses. Vaccines offer hope to the market for...
Read MoreWhat's the Buzz on Inflation??
There seems to be a debate regarding inflation at-the-moment. Investors with optimism believe the Fed’s assessment of current inflation concerns is transitory while those that are pessimistic believe inflation will run rampant....
Read MoreTax Advantaged ABLE Accounts
Most parents and grandparents know about the 529 educational accounts to help pay for school expenses. However, tax advantaged ABLE accounts are a relatively new investment option to help special needs children. Let's take a look at...
Read MoreNew Law to End Stretch IRAs
NEW LAW END STRETCH IRAs First, what is a STRETCH IRA? Simply it allows the beneficiary of an IRA to take a required minimum distribution (RMD) over the beneficiary’s lifetime. The value is continued tax-free growth which can...
Read MoreMarket Watch & Opinions
Not surprising the market uncertainty is expected given the outcome of both the upcoming Senate and Presidential election tomorrow due to the uncertainty over future governmental policies. The polls are suggesting the Senate outcome is...
Read MoreReflections on 2020 Presidential Race & Stock Market
The presidential election will be upon us in two months. Investors are analyzing possible November outcomes. Based on the past election history (no guarantee), outcomes on the stock market annual rates of return suggest the market does...
Read MoreImportant Estate Documents to Consider
We hope this blog finds you well. According to a Kaiser Family Foundation Study in 2017, only 27% of American adults have completed a Living Will. These days, we've all been facing an unprecedented global crisis with COVID-19. Now,...
Read MoreCash Management Ideas During Covid-19
Given the economic impacts brought on by COVID – 19, we feel it's especially important to be proactive with our spending and cash savings to reduce the impact of lower income from becoming disastrous. The following are some ideas...
Read MoreGoing to Cash Might Not Be the Best Option....Here's Why
None of us like to see our portfolios decline in value. Market volatility is unsettling and can rattle even the most disciplined of us. We've discussed that logically you know your financial plan asset’s mix should be adjusted...
Read MoreReminders for us ages "50+ Club"
I hope this finds everyone well and that you, your family is safe. Karen and I have been fielding many calls during this pandemic as we've stated in previous emails, however I wanted to post some reminders for us all....especially the...
Read MoreSenior and Long Term Care
Recently a 74 year old man, who has an 82 year old wife asked me “How can my wife and I stay home when we need long term care?” Although it is his desire to remain in his home, I told him he would need to plan for things...
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