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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...

What Should Small Business Owners Know About Data Privacy Obligations?

David Vigil CFP,® CIMA®

Tuesday, December 27, 2022

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...

Understanding Capital Gains Tax as an Investor

David Vigil CFP,® CIMA®

Tuesday, December 27, 2022

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....

Don't Miss Out on These 5 Commonly Overlooked Tax Deductions

David Vigil CFP,® CIMA®

Tuesday, December 27, 2022

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...

Five Healthy Habits for Financial Wellness

David Vigil CFP,® CIMA®

Tuesday, December 27, 2022

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...

Top Year-End Investment Tips

David Vigil CFP,® CIMA®

Monday, November 28, 2022

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...

Key Numbers 2023

David Vigil CFP,® CIMA®

Monday, November 28, 2022

  Income Tax (2023 tax rate...

Countdown To Investing in the New Year: 10 Questions To Ask Yourself

David Vigil CFP,® CIMA®

Monday, November 28, 2022

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...

5 Do’s and Don'ts for Charitable Giving During the Holidays

David Vigil CFP,® CIMA®

Monday, November 28, 2022

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....

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:...

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...

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...

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...

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...

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...

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....

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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,...

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

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

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

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