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A Tough Times Survival Guide for Small Businesses
Small businesses may often find themselves struggling, and there are many situations in which business owners may find themselves weathering a storm and hoping to make it through. While the strength and fortitude of those who run small...
Read MoreRetiring as a Small-Business Owner: What to Know Before You Go
The thought of retiring may be intimidating for anyone—but if you own your own business, handing your "baby" to new owners might be enough to stop you in your tracks. What might you do to set your successor up for success? What...
Read MoreUnderstanding Life Insurance Beneficiary Arrangements
Overview: In the language of life insurance, a beneficiary is the recipient of the policy’s proceeds when the named insured dies. The owner of a life insurance policy has a great deal of flexibility in naming beneficiaries and,...
Read MoreMedicare Will Not Cover All Health Care Costs
Medicare is a federal health insurance program for individuals aged 65 or older and certain younger people with disabilities.And despite being a widely used program, there are several misconceptions surrounding Medicare, one of the...
Read More4 Financial Skills All Business Owners Should Learn
Running a business requires gaining expertise in many things over a short period—especially financial matters. If finances do not come naturally to you, you may quickly feel like you are in over your head. Fortunately, mastering...
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Minimizing Taxation of Your Social Security Retirement Benefit
Your Social Security retirement benefit may be taxableDid you know that you might have to pay federal income tax on your Social Security retirement benefit? If the only income you had during the year was Social Security income, then...
Read MoreRepurposing benefit plans and avoid employees from pulling cash from their 401(k)s
In recent years, many employees have been faced with financial hardships, such as job loss or unexpected expenses, which have led to them pulling cash from their 401(k)s. This can be detrimental to their long-term retirement savings...
Read MoreEverything You Need to Know About the Social Security Trust Fund
The Old Age and Survivors Insurance (OASI) benefits, known as Social Security, pay retirement and survivors benefits through The Social Security Trust Fund. The U.S. Social Security Administration oversees this fund. Social Security...
Read MoreStocks and Bonds Before and After Taxes
Investing in U.S. stocks and bonds is a popular way for individuals and institutions to grow their wealth and generate income. However, it is important to consider the impact of taxes on these investments before and after making them....
Read MoreFinancial Mistakes To Avoid in 2023
Could you be losing money because of simple monetary mistakes? Avoid these money-wasting habits in 2023 to have more cash when you need it—or save it for a rainy day. Failing to budgetConventional wisdom says to follow the...
Read MoreA Beginner’s Guide to Investing
When you start to consider if investing is an appropriate option for you, you may have questions. You might want to ask:How do I invest money, and where?How much money will I need?What are some common strategies for someone that has...
Read MoreWealth Due to Inheritance
What is it?IntroductionIf you're the beneficiary of a large inheritance, you may find yourself suddenly wealthy. Even if you expected the inheritance, you may be surprised by the size of the bequest or the diverse assets you've...
Read MoreWhat Should Small Business Owners Know About Data Privacy Obligations?
Each year, some of the biggest companies in the world fall victim to data breaches—in 2020, this list included Microsoft, Facebook, and Instagram. But just because small businesses aren't dealing with billions of electronic...
Read MoreUnderstanding Capital Gains Tax as an Investor
As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth....
Read MoreDon't Miss Out on These 5 Commonly Overlooked Tax Deductions
When you own a business, you get to deduct business expenses from your business income. This general rule applies, subject to certain limitations, whether you are a sole proprietor with employees or a self-employed freelancer...
Read MoreFive Healthy Habits for Financial Wellness
Financial stress can have a direct negative impact on a person's health and happiness. Unfortunately, this may lead to a downward spiral. The more stress you're feeling, the larger your financial hurdles may seem, and the more you...
Read MoreTop Year-End Investment Tips
Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December...
Read MoreCountdown To Investing in the New Year: 10 Questions To Ask Yourself
If one of your New Year's resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year's Eve countdown tradition, ask yourself these 10 questions to help review your investment plans...
Read More5 Do’s and Don'ts for Charitable Giving During the Holidays
The fourth quarter holidays are often seen as one of the prime times to take out your checkbook — not only do many charities put in extra efforts helping others this time of year, but donating is also a smart financial move....
Read MoreA Year-End Wealth Planning Guide
As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...
Read MoreA Guide to Incorporating Philanthropy into Your Financial Planning
If you're considering giving back to society or a cause as part of your financial planning, there are many ways you can do so. You can make an impact while receiving tax benefits by including philanthropic giving as part of a holistic...
Read More30 Days of Gratitude
Between the excitement of Thanksgiving’s delicious feast and the hustle and bustle of the impending holiday season, the month of November often goes by in the blink of an eye. However, even just one simple act a day will help you...
Read MoreMid-November Means Open Enrollment Time
Reviewing your benefit choices will maximize your employment benefitsOpen enrollment for employee benefits kicks off this month. While you plan your Thanksgiving menu, review your benefit choices. Even if little changed in your life...
Read MoreTreat Yourself to These 5 Retirement Savings Tricks
Your retirement is the reward after years of hard work and saving. You might dream of traveling, want to invest in a vacation home, or want to take up a new hobby. For an enjoyable retirement, saving is critical. Take charge of your...
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...
Read MoreFinancial Planning At Every Age
In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2Americans are budgeting more due to the pandemic....
Read MoreYour Long Term Care Action Plan: A Step-by-Step Guide
Those turning 65 this year have a 7 in 10 chance of needing long-term care (LTC) at some point.1 With the cost of a private room in a nursing home now topping $100,000 per year, the thought of paying this — or for a loved...
Read MoreInterest Rates on Federal Student Loans to Increase for 2022-2023
Every May, interest rates on federal student loans are recalculated for the upcoming school year. The rates are calculated by combining the yield on the 10-year U.S. Treasury note with an extra fixed amount set by Congress.Based on...
Read MoreAll You Need To Know About Eldercare Arrangements
How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work, gotten the kids out of school and looked forward to it from the moment you made the final...
Read MoreNew Job and Four Tips for Your New 401(k)
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...
Read MoreTax Planning Tips - Life Insurance
Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment...
Read MoreSeniors and Debt: Getting Back on Track after a Post-Retirement Financial Setback
You may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free retirement is not the reality for some. Challenges from stock...
Read More4 Critical Money Tips for New Graduates
As recent graduates enter the workforce, they may need to make some financial decisions to help them prepare for potential economic uncertainty such as inflation, rising real estate prices, and a volatile stock market. If planned...
Read More6 Ways to Minimize Your Tax Liability Throughout the Year
You don't need to wait until the end of the year to look for ways to minimize your tax liability. Tax planning should take place throughout the year to have you prepared well ahead of tax season. Here are six ways to minimize your tax...
Read MoreTax Planning Tips: Disability Insurance
The income you receive from disability income insurance may or may not be taxable. The taxability of disability income insurance benefits depends on what type of benefits you receive, whether the premiums were paid with pretax or...
Read MoreFive Lessons To Remember During Bear Markets
The real value of a bear market may be that it gives investors, who are temporarily frozen within its grip, the opportunity to learn or relearn important lessons regarding risk and diversification.For savvy investors, a bear market...
Read MoreSecuring Your Future with Life Cycle Planning
The need for regular saving and investing spans many life stages. Through the years, your goals will change and your strategies will shift, but don’t be alarmed. You’re just progressing through the normal stages of life,...
Read MoreBaby Boomers and Their “Boomer-ang” Children
In recent years, many Baby Boomers have witnessed a growing trend: Their children are moving back home after graduating from college. In part, the return of the “boomerang” children to the nest may be due to the high cost...
Read MoreRequired Distributions: Changes You Need to Know
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts...
Read MoreAre You a Non-Spouse Beneficiary of an Inherited IRA? The IRS Has New Rules for You
If you are a non-spouse beneficiary of an IRA, proposed IRS rules regarding distributions may impact your situation. In February 2022, the IRS and Treasury Department reinstated SECURE Act RMD requirements for IRAs inherited in 2020 or...
Read MoreCharitable Gifting
What constitutes a gift to charity?A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count. There...
Read MoreTempted to Borrow From Your Home's Equity? Here's What You Need to Know
Did you know that the average mortgage holder has $185,000 home equity? This past year’s record-setting housing prices have dramatically increased the amount of home equity the average American homeowner holds. This means the...
Read More4 Economic Benefits of Homeownership
Even though housing prices throughout much of the U.S. are at or near all-time highs, there are still many distinct financial advantages to owning a home.1 From tax benefits to capital gains exclusions and guaranteed rates of return,...
Read MoreAmerica’s Changing Vision of Retirement
Retirement planning is a primary reason for long-term saving, and when people think about retirement, finances are often the focus. However, it is important to also look at the nonfinancial aspects of transitioning from the world of work to
Read MoreCredit Traps for the Unwary
It's hard to imagine functioning in today's society without access to credit. However, you need to be careful not to fall victim to some of the pitfalls associated with it. Revolving credit can make it hard for you to pay off debt
Read MoreCredit Education Month: 4 Ways to Boost Your Credit IQ
March is National Credit Education Month in the U.S., which makes it the perfect opportunity to brush up on your credit basics.1 Whether you're a credit novice or well-versed in the art of the FICO score, below are four ways to potentially
Read More4 Things Every College Student Should Know About Credit
The average college student graduates with around $30,000 in student loan debt. While this isn't an insurmountable amount of debt for a degree that may boost your earning potential, it also makes it important to maintain responsible credit
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