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In a country plagued by low financial literacy, it’s good to know that personal finance courses are becoming a requirement for high school students. Thirty-nine states now require such courses for high school graduation, according to...

Did you get an IRS letter asking for hefty tax on a retirement-plan rollover that’s tax-free? Or a notice saying you didn’t file a tax return, although you did? Will you have to wait months for your refund because you want a paper...

The current war in Iran and the resulting turbulence in global financial markets have understandably made many investors uneasy. Headlines about geopolitical instability and market volatility can rattle even the most disciplined savers...

There is an old saying: Money doesn’t change people. It reveals more of who they are. In retirement, money often magnifies who you already are instead of transforming you (Getty)There is an old saying: Money doesn’t change people. It...

Spring is Calling! – March 2026

David A. Smith, CFP®, MSFS, AIF®

Sunday, March 1, 2026

March has arrived, and the promise of spring is on the horizon! With the season beginning to shift, March brings brighter days, fresher air, and an excellent reminder that growth is always possible. As everything begins to bloom, this...

Key TakeawaysThe U.S. economy is growing at a healthy pace, but job growth is lagging behind.AI technology may be contributing to the job slump by automating tasks that would otherwise be given to entry-level hires.A wave of AI job...

Good intentions are powerful. They’re also unreliable.In philanthropy, that combination creates more problems than most families realize.For more than 25 years I’ve watched thoughtful, deeply committed donors work incredibly hard at...

Your 20s and 30s are one of the most powerful decades of your financial life. During this crucial period, you may be starting your career from scratch but time is definitely on your side. And becoming a millionaire by 40 isn’t about...

Key TakeawaysAmericans are thinking about their finances for about four hours every day, a new survey shows.The survey suggests younger generations think about finances more often than their elders, while more than half of the...

As we head into 2026, markets are generally pretty bullish. Despite a couple of policy-related hiccups and bubble scares in 2025, the S&P 500, Dow Jones, and Nasdaq all posted healthy returns. And why shouldn’t that continue?Analysts...

Happy New Year! – January 2026

David A. Smith, CFP®, MSFS, AIF®

Thursday, January 1, 2026

January has a quiet magic that brings slower mornings, new hints of daylight, and a chance to start anew with hope and purpose. The start of the new year offers an opportunity for positive change; however, it is essential to pace...

Can SAD Lamps Help With Seasonal Depression?Q: I get depressed during the winter and have heard that SAD lamps can help. Is that true?A: Shorter, darker and colder days can leave many people feeling down during the winter months, said...

Experts share ways to get your retirement savings prepared for the new year. Key Takeaways by Bloomberg AI Experts say there are simple ways to up your retirement savings game, such as fine-tuning taxes, adding to your mix of...

KEY TAKEAWAYS Taxpayers can pre-pay estate taxes and pay quarterly state and local taxes before the end of the year, allowing them to take advantage of the new SALT cap. Taxpayers who do not itemize may want to consider moving their...

How Grandparents Can Help Grandchildren with College Costs

David A. Smith, CFP®, MSFS, AIF®

Monday, December 1, 2025

As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what's...

Balance doesn’t make you mediocre. It makes you whole. And wholeness, not wealth, is the foundation of genuine success. The Dangerous Allure of “Front-Loading Success” A recent Wall Street Journal article stopped me cold. Titled...

“The investor’s chief problem – and even his worst enemy – is likely to be himself.” ~ Benjamin Graham Fear can be powerful driver of our emotional decisions Managing the fear response Our survival response is innate and, by definition...

I grew up in a world where the cheaper option was always the better option. I have spent much of my career as a personal finance expert preaching how to save more, spend less and minimize taxes. Then in November 2022 my mom got sick....

Few things are scarier for me than Stephen King, particularly his book and pursuant movie It. Thanks to them, I can never go near a clown again. There are also some scarier things that can haunt us day after day and night after night:...

Finish the Year Strong by Considering These Tax Moves

David A. Smith, CFP®, MSFS, AIF®

Tuesday, October 21, 2025

As 2025 comes to a close, now may be the ideal time to review your tax strategy and find potential opportunities. The steps you take before the end of the year might help you reduce your tax bill. Here are some ideas to consider. Save...

Americans are sitting on more than $39 billion of matured but unredeemed U.S. savings bonds, according to the Treasury Department, but cashing them isn’t as simple as it was. Electronic savings bonds automatically redeem upon maturity,...

Welcome Fall- October 2025

Michael A. Cozad, CFP®, MSFS

Wednesday, October 1, 2025

As the air cools and leaves begin to change hues, October is a beautiful reminder that change is both natural and necessary. With only three months remaining in 2025, you may be inspired to refocus your financial priorities. Mirroring...

Yale economist William Goetzmann has felt the fear that a stock-market crash can strike into an investor. He’s lived through at least four of them: 1987, 2000, 2008, and 2020.“I watched my entire life savings drop by 50% during the...

Key Takeaways Competing financial priorities are keeping Americans from saving for retirement. The traditional idea of retirement might work for some, but major shifts in the economy call for retirement to be approached differently....

Turning a New Leaf – September 2025

David A. Smith, CFP®, MSFS, AIF®

Wednesday, September 3, 2025

September is a month that marks new beginnings. As the leaves begin to change and temperatures cool down, September offers a quiet focus that replaces summer’s chaos. For many, it is the start of the school year, approaching a fresh...

Turning a New Leaf – September 2025

David A. Smith, CFP®, MSFS, AIF®

Wednesday, September 3, 2025

September is a month that marks new beginnings. As the leaves begin to change and temperatures cool down, September offers a quiet focus that replaces summer’s chaos. For many, it is the start of the school year, approaching a fresh...

You probably face risk-reward trade-offs regularly. When you’re running late for an appointment, you might drive fast and aggressively — risking an accident or ticket in exchange for a quicker journey to your destination. Or, you can...

Media headlines about the wealth and succession plans of famous enterprise families offer a window into how complicated—and often messy—wealth transfer can be. Yet, they also highlight how legacy and wealth intertwine through...

2025 has been anything but calm. Nerve-racking headlines on tariffs, wars, and political tensions have caused roller-coaster gyrations in financial markets and left many wealth management clients feeling squeamish about their...

Most of us think of retirement as something we wait 40 years to enjoy and receive the proverbial gold watch. We dream of sleeping-in, having a long, leisurely breakfast and spending the remainder of the day in a rocking chair, playing...

August is a time to pause, reflect, and reset. Whether you are squeezing in last-minute summer getaways, preparing for fall, or simply enjoying the slowing pace of the season, now is an excellent opportunity to plan for year-end goals...

The One Big Beautiful Bill Act (OBBBA) was signed into law by President Donald Trump on Thursday, July 4, 2025. The bill makes permanent several of the expiring tax cuts contained in Trump’s signature 2017 tax legislation—the Tax Cuts...

Not all natural disasters are covered by renters insurance policies, and you may need to buy separate additional coverages for earthquakes and floods to protect your belongings should these disasters strike in your area. “If you rent...

Here comes the sun! June is upon us and summer will officially be here before we know it Summer can be a season of spontaneity, from weekend getaways to last-minute concert tickets. However, with these splurges, haphazard spending can...

One thing that investing teaches you is to expect surprises. Coronavirus? Surprise! Trade wars? Surprise! Another thing you can learn from investing: Wall Street just hates surprises. When the unexpected arises, the markets can...

Health Insurance in Retirement

David A. Smith, CFP®, MSFS, AIF®

Monday, June 16, 2025

At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine...

The United States is in the midst of one of the largest wealth transfers in history. With the Great Wealth Transfer underway, the latest figures from Cerulli (as of December 2024) show that $124 trillion will transfer through 2048,...

The number of Americans who rely on Social Security retirement benefits for at least a portion of their retirement income is significant—as of September 2024, there were 54 million beneficiaries.1 However, Social Security...

Versatile 529 Plans Can Help with More than Just College

Michael A. Cozad, CFP®, MSFS

Monday, May 19, 2025

529 plans were originally created in 1996 as a tax-advantaged way to save for college. Over the past several years, Congress has expanded the ways 529 plan funds can be used, making them a more flexible and versatile savings vehicle....

Understanding Bond Yields and the Yield Curve

David A. Smith, CFP®, MSFS, AIF®

Monday, May 12, 2025

When it comes to investing in bonds, one of the first factors to consider is yield. But what exactly is “yield?” The answer depends on how the term is being used. In the broadest sense, an investment’s yield is the return you get on...

Almost 72 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits. 1 Although most people receiving Social Security are retired, you and your family members...

Happy May! Our gardens are blooming, and the temperatures are rising, signaling the summer season will be here before we know it. If you are a planner, you have likely started to map out potential family vacations for the coming...

Dive into Summer – June 2025

David A. Smith, CFP®, MSFS, AIF®

Thursday, May 1, 2025

Here comes the sun! June is upon us and summer will officially be here before we know it Summer can be a season of spontaneity, from weekend getaways to last-minute concert tickets. However, with these splurges, haphazard spending can...

As a coach, I am always intrigued by both how unique we all are and, at the same time, how similar themes emerge in coaching. One that pops up repeatedly is getting from point A to point B, getting things accomplished. In a word,...

President Donald Trump’s latest tariffs and the massive sell-off in stocks have ignited fears of an economic downturn in 2025 — but one bank says there’s still reason to believe that the US is not barreling toward a recession this year...

The US economy added 228,000 jobs in March, far surpassing the forecast, and unemployment unexpectedly jumped. Job growth was expected to be 137,000, and the unemployment rate was expected to hold steady at 4.1%. Unemployment instead...

For the millions of Americans who retire each year, stopping work might seem like a well-deserved break. But it can also precipitate big changes in brain health, including an increased risk of cognitive decline and depression. Before...

April is upon us! The expression "April showers bring May flowers" is a beautiful reminder of nature's natural cycles and the unexpected storms that may appear in our lives. This is an excellent time to consider starting a rainy-day...

Most people should consider having one or more trusts in their estate plans. To make decisions about trusts you must be aware of trust terminology and basic concepts about the most common types of trusts. Keep in mind that some trusts...

Social Security is more confusing than ever. Myths abound. Here, you’ll find a complete set of 25 facts to help you understand Social Security and its benefits. Below, you’ll find a complete set of 25 facts to help you understand...

Don’t get confused, taxes are due. The Trump administration has said its goal is to “abolish” the Internal Revenue Service, the US agency responsible for tax collection. But that doesn’t mean you can skip filing your 2024 income taxes....

It's no secret that the Digital Age has been good for scam artists. In the third quarter of 2024, the most recent period for which US government data is available, $2.5 billion was reported lost to fraud—more than tripling since the...

Before you dive into the numbers, align on your visions for retirement, taking time to dream together. Planning for retirement can feel like a daunting task, and when you’re doing it as a couple, it becomes even more important to get...

Key takeaways Emotions can run high when communicating trust and estate plans with family. Be candid and considerate in your conversations, whether you’re communicating your wishes to your children or helping your aging parents put...

And just like that… February is here, with a quiet promise of renewal and warmth yet to come. February invites us to embrace moments of connection, whether through the cherished bonds shared with friends and family or the celebration...

Three Market-Moving Economic Indicators to Watch

Michael A. Cozad, CFP®, MSFS

Monday, January 27, 2025

The Employment Situation Each month, the Bureau of Labor Statistics (BLS) publishes the Employment Situation Summary report based on information from the prior month. The data for the report is derived primarily from two sources: (1) a...

Three Ways to Invest in Yourself

David A. Smith, CFP®, MSFS, AIF®

Wednesday, January 15, 2025

The end of the year is a good time to reflect on everything you've accomplished and given to others. As you set resolutions for the new year, why not think about how investing in yourself might give you a fresh start? Investing in...

Key Takeaways • Wall Street analysts generally expect stocks to post another year of gains in 2025 as a strong economy and declining interest rates boost corporate earnings. • The gap between the Magnificent Seven and the rest of the...

Happy New Year! Here’s to a fantastic January. The new year is often a time of reflection, renewal, and embracing new opportunities in the year ahead. Many of us are ready to kickstart 2025 with a fresh set of goals to accomplish over...

Are you dithering about preparing your will? If you die without one, the state will make all of the calls on where your assets go, with potentially unhappy results. When the singer Prince died in 2016 without a will, it took six years...

Before donating to charity, be sure to do your research. Extensive resources are at our fingertips if we know where to look. Before donating to charity, be sure to do your research. Ask a few questions to protect yourself from...

As we reach a certain age and start fretting about retirement, many of us forget about one of the best resources for retirement advice: the people we most trust. “Any time you have a major life transition you should seek out counsel,”...

Planning for retirement has always been a multiyear process that requires thoughtful and consistent attention and actions. Yet retirement planning for younger investors has become even more challenging relative to the previous...

With the holidays on the not-too-distant horizon, now is the perfect time to take stock of your finances and make sure you’re on track to meet your financial goals for the year. There’s plenty to be thankful for in 2024. With...

Happy December! As the year winds down, there's much to celebrate this season. Three major holidays will occur this month: Christmas is Wednesday, December 25th, and Hanukkah starts the same evening. Kwanzaa begins the following day,...

How is it already November? On November 28th, we'll gather with friends and loved ones to express our thanks and gratitude as we indulge in a delicious Thanksgiving feast. Though eating turkey is an essential part of Thanksgiving for...

Stocks have climbed since the Federal Reserve lowered interest rates a month ago, with investors betting that it marked the beginning of a series of cuts that will offer a tail wind to the market. And the economy continues to hum,...

Whether it's hurricanes slamming Florida, floods tearing up parts of New York, or wildfires raging through California, extreme weather threatens lives and livelihoods across the United States. According to the Federal Emergency...

Oh, my ghourdness - October has arrived! As we enter the last quarter of the year, you may already be preparing for the busy holiday season ahead or reflecting on the memories made this past year. But you should take time to embrace...

The stock market has not only recovered from its tantrum of early August, it is behaving as if that downturn never happened. Stocks have been rallying joyfully. With the political conventions behind us and the Federal Reserve expected...

https://advisorstream.com/read/the-make-or-break-moment-that-will-determine-the-economys-fate/?c=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9...

As the dog days of summer wind down, it’s almost time to fall into our next season! Soon, the air will turn crisp, and the leaves will start changing color, ushering in a new season of opportunities to gather with loved ones and...

The stock market has not only recovered from its tantrum of early August, it is behaving as if that downturn never happened. Stocks have been rallying joyfully. With the political conventions behind us and the Federal Reserve expected...

Take a moment to reflect on your goals. If you’re like us, they probably include getting your work done to a high standard, spending time with partners, friends and children, exercising, finding moments of mindfulness, eating well, and...

A global market rout like the one on Monday is enough to make even the most Zen investors a little anxious about their money. The Dow Jones Industrial Average dropped more than 1,000 points Monday, rattling investors after several...

In the blink of an eye, August is here! As we enter the final days of summer, many of us are looking for opportunities to escape the heat and squeeze in one last vacation before Labor Day. If you’re looking for an epic getaway, check...

Being part of the financially independent / retire early movement sounds like the dream. But if it's realistically unlikely that you'll achieve it, you may find comfort in the fact that working for most of your life could at least...

After the Loss of a Loved One, Watch Out for Scams

Michael A. Cozad, CFP®, MSFS

Monday, July 22, 2024

Scam artists often prey on those who are most vulnerable. Unfortunately, this includes individuals who have recently lost a loved one and are easily taken advantage of during their time of grief. Scammers will look for details from...

I’ve got good news: You’re antifragile. We, as humans, are antifragile. And our financial plans can be, too. Have you noticed how great books consistently refer to other great books? I’m currently reading Jonathan Haidt’s newest book,...

As we dive into the heart (and heat) of summer, we hope your days are filled with sunshine, making memories with loved ones, and relaxation. This July is expected to be hot, according to the Farmer’s Almanac, which predicts...

If you are a new graduate trying to move away from home and get your start in life: Sorry. For aspiring homebuyers, the United States just experienced its highest-priced April ever recorded, according to the National Association of...

NEW YORK - Open most personal finance books, and you will find the usual tips like how to maximize credit card rewards or get a bank fee waived. But to create a life of real financial security, you need to think bigger and broader,...

I'm reminded of the adage often attributed to Winston Churchill: "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty." Optimism means acknowledging challenges that come your way...

June is here, ushering in the official start of summer, longer days, and a renewed sense of energy and excitement. There will be plenty to celebrate this month, with Father’s Day, graduations, Pride Month, and Juneteenth all taking...

Many Americans worry about the future of Social Security, and rightly so. But that’s not a good reason to claim your benefits early. The long-term outlook of the program isn’t any better than it was a year ago, according to an annual...

America's vision of success is changing. Once upon a time, U.S. adults may have aspired to have a nuclear family, their name on a property, and maybe even a white picket fence. Not anymore—at least, not for a growing number of...

Show me, don't tell me—it's the new mantra for the stock and options markets. The recent price volatility, which saw market-leading stocks tumble, has changed investor sentiment just as earnings season is accelerating and putting a...

Here are eight ways to measure wealth – only one is money Grappling with work-life balance inevitably leads to considerations of money. How much money do we need to accumulate to have a full and healthy life? In essence, we’re...

Death and money aren’t fun subjects to bring up over dinner. Yet families who make time for that awkward chat now can spare deep regrets and potentially millions in lost dollars. Sometimes the arguments are between one child who took...

The world has come a long way since 1924. The year 2024 marks the 100th anniversary of famous events, brands, and inventions that have become everyday staples. Here are 10 things turning 100 in 2024. Dum Dums were created 100 years...

Filling out a bracket for the NCAA championship basketball tournament is an annual highlight for sports fans like myself. Like most people, I don’t watch much of the regular season games, but every March I start reading expert picks...

When the clocks spring forward, a bit of financial spring cleaning is in order. Periodically reviewing your finances can help ensure that you are on track to achieve your goals and minimize the chances of any costly oversights. Below...

The 401(k) is doing double duty as both a retirement account and a source of emergency funds for more Americans. A record share of 401(k) account holders took early withdrawals from their accounts last year for financial emergencies,...

Women have made significant strides in achieving gender parity in the workforce and education over the past few decades. However, when it comes to investing for women and financial planning, studies show that women are still lagging...

There are some ages that are notable in life – from the age you can first legally vote, to the age you can legally drink. In the world of finance, there are notable ages as well that correspond to your financial life, and it...

Parents are cutting the financial cord with their adult kids later than ever. They hope it isn’t awkward. The parents have been paying the monthly phone bill and covering rent for far longer than in prior generations. Some are...

Filing your taxes is a task that few people enjoy. But the frustration is worth it once you receive a refund. This year, however, many financial experts are warning that refunds will be smaller. You may even find yourself owing money...

And just like that, February is here! While it may be the shortest month, there is much to celebrate in February. From exchanging heartfelt cards with loved ones on Valentine’s Day to honoring Black History...

During the pandemic, a lot of Americans had to stay home — and many discovered that they preferred staying in to going out. Looking for the early bird special.Photographer: Justin Sullivan/Getty Images A hip and...

The theory of marginal gains is a concept made famous by British cycling coach Dave Brailsford in 2010. He believed that if you improved every area related to cycling by just 1%, those small gains would add up to remarkable...

Diversification, Patience, and Consistency

David A. Smith, CFP®, MSFS, AIF®

Monday, January 8, 2024

Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t put all your eggs in one basket” has some application to investing. Over...

Hello, 2024! For many, the crisp January air brings renewal and opportunity. It's a time of fresh beginnings and setting new goals. Last year, 37% of Americans reported making at least one New Year's resolution at the start...

You’ve heard of Giving Tuesday (complete with its own hashtag #GivingTuesday), and it’s perfectly timed following the excesses of Black Friday shopping. You may prefer to focus on the altruism of giving, but it’s...

Ways to Supplement Your Medicare Coverage

David A. Smith, CFP®, MSFS, AIF®

Monday, December 4, 2023

There are a number of ways to fill gaps in your Medicare coverage and/or to get assistance with Medicare costs: 1. Job-based insurance: If you or your spouse is still working, and you have insurance through that job, it may work with...

Happy December! As we find ourselves reflecting on the moments that made this past year special, we extend our warmest wishes to you and your loved ones during this festive season. Winter is here or will be soon, depending on how you...

The Internal Revenue Service recently bumped the income thresholds for its tax brackets by 5.4% for 2024, its latest adjustment to account for elevated rates of inflation. The move is unlikely to produce a material change on most...

In lieu of shiny silver discs, now is the time to stress-test your streaming mix. After all, which services are you using enough to make it worth the money? You can assess which ones you really use, employ smart cancellation tactics...

November has arrived with its own unique charm: leaves falling to the ground, the air turning crisper, and Thanksgiving just around the corner. This year, Thanksgiving falls on November 23rd. Though turkey and pumpkin pie...

After writing about personal finance for years, I always encounter things people shouldn’t do with their money: Running up huge bills, using stock brokers as “financial consultants” and not saving money for retirement...

Investing Has Been Ugly. Stick With It Anyway.

Michael A. Cozad, CFP®, MSFS

Tuesday, October 17, 2023

This is one of those stretches when you may want to avoid looking at your investments. Performance reports for the three months that ended in September are arriving now, and they are ugly. The vast majority of mutual funds and...

What is the FIRE movement?

David A. Smith, CFP®, MSFS, AIF®

Tuesday, October 10, 2023

At a time when many people feel like they’re working more than ever, some are going to great lengths to never lift a finger again. The FIRE movement, which stands for Financial Independence, Retire Early, is a lifestyle and...

October means fall is officially here, and crisper days and autumn-themed activities are filling our calendars. One of your activities may include visiting a pumpkin patch in search of the perfect pumpkin. More than 800 million...

We are coming up on a seasonal turning point in the stock market. October is special for three reasons: 1. It is the month when history’s most spectacular market crashes have occurred, most famously in 1929 and 1987. 2. Yet it is...

A Tax Break Worth the Hassles

Michael A. Cozad, CFP®, MSFS

Monday, September 25, 2023

Ever since the tax overhaul of 2017, millions of Americans haven’t gotten key tax breaks for giving to charity. But a growing group of seniors can still reap remarkable benefits from donations—if they put up with hassles...

Parents Have a New Incentive to Fund ‘529’ Plans

David A. Smith, CFP®, MSFS, AIF®

Monday, September 18, 2023

New rules that take effect in 2024 for “529” plans will give owners of such accounts more incentive to fund them and give account beneficiaries a way to jump-start their retirement savings. But 529 investors should be...

Student loan experts give their advice on payments restarting for millions of Americans in October. Millions of Americans will see their expenses rise sharply this fall. Federal student loan payments are back after a pause of more than...

Hello Fall! Though the summer heat may still be holding on, cooler days will be here before you know it. The autumnal equinox on the 23rd of this month marks when the days will start to become shorter than nights, and the calendar...

Most people go to college in order to better their lives and earn a degree that translates into the working world. On the flipside, parents and college kids may be rightfully stressed about the financial implications of pursuing higher...

Preparing for Retirement Emotionally

Michael A. Cozad, CFP®, MSFS

Monday, August 14, 2023

Retirement paves the way to a new and exciting chapter of our lives. Like popping the cork from a long-awaited champagne bottle, this is the moment of relief when, for the first time ever, we now have ample time to travel the world,...

Inflation & Your Money

David A. Smith, CFP®, MSFS, AIF®

Monday, August 7, 2023

“If the current annual inflation rate is 7.9 percent, why do my bills seem like they’re 10 percent higher than last year?”1 Many of us ask ourselves that question, and it illustrates the importance of understanding...

August marks the final hurrah of summer. If you’re a gardener, it’s time to reap what you’ve sown as many summer vegetables are ready to be harvested – watermelon, corn, peaches, tomatoes, cucumbers – the...

Where Will Your Retirement Money Come From?

Michael A. Cozad, CFP®, MSFS

Monday, July 31, 2023

What workers anticipate in terms of retirement income sources may differ considerably from what retirees actually experience. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six...

Positioning Your Income/Assets to Enhance Financial Aid Eligibility

David A. Smith, CFP®, MSFS, AIF®

Monday, July 17, 2023

What does it mean to enhance your financial aid eligibility?If you qualify for federal financial aid, there are a number of strategies you can try to implement to enhance the amount of aid your child will receive when you apply for...

U.S. Supreme Court Blocks Student Loan Cancellation, Payments to Resume

Michael A. Cozad, CFP®, MSFS

Monday, July 10, 2023

Three important developments occurred recently in the world of federal student loans: the U.S. Supreme Court blocked an executive order offering loan cancellation to certain borrowers; Congress set anexpiration date for the payment...

Is This Bull Timid or Ready to Charge?

David A. Smith, CFP®, MSFS, AIF®

Monday, July 3, 2023

On June 8, 2023, the S&P 500 index closed at 4,293.93, just over 20% higher than its lowest recent closing value of 3,577.03 reached on October 12, 2022.1 According to a common definition of market cycles, this indicated that the...

The warm embrace of July is upon us, and I hope this message finds you beaming with summer vibes and a heart full of sunshine! Grab a refreshing iced beverage and find a shady spot while we offer ideas and some fun facts about the...

Bypassing Probate

Michael A. Cozad, CFP®, MSFS

Monday, June 26, 2023

You may have heard about the horrors of probate, but in truth, probate has gotten an undeservedly bad reputation, especially in recent years. If you bypass probate, your estate will go to your beneficiaries without any court proceeding...

Congress Tells Treasury to Expect SECURE 2.0 Technical Fixes

David A. Smith, CFP®, MSFS, AIF®

Monday, June 19, 2023

In late May 2023, Congress sent a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel saying that it will introduce legislation to correct several technical errors in the SECURE 2.0 Act. The letter, signed...

Fiscal Responsibility Act of 2023

Michael A. Cozad, CFP®, MSFS

Monday, June 12, 2023

The Fiscal Responsibility Act of 2023, signed into law on June 3, 2023, suspends the federal debt ceiling until January 2025. The legislation also includes a number of spending cuts. It is estimated to reduce federal budget deficits by...

A Trusted Contact Can Help Protect You

Michael A. Cozad, CFP®, MSFS

Friday, June 9, 2023

As you know, in the financial industry we take privacy and identity verification very seriously (it’s part of our ongoing effort to best protect clients and their assets). In recent years, we’ve begun adding a...

Asset Protection in Estate Planning

David A. Smith, CFP®, MSFS, AIF®

Monday, June 5, 2023

You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe...

Welcome to June, when the gentle embrace of summertime brings us longer days and brighter skies. June beckons us to immerse ourselves in celebrating events, fostering connections, and creating memories that will last a lifetime. Its...

Understanding Social Security

Michael A. Cozad, CFP®, MSFS

Monday, May 22, 2023

Approximately 70 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits.1 Although most people receiving Social Security are retired, you and your family...

Planning Points: SECURE ACT 2.0 Adds Early Withdrawal Exceptions

David A. Smith, CFP®, MSFS, AIF®

Monday, May 15, 2023

The SECURE 2.0 Act, passed as part of an omnibus spending bill in December 2022, added new exceptions to the 10% federal income tax penalty for early withdrawals from tax-advantaged retirement accounts. The Act also expanded an...

A Woman’s Guide to Health Care in Retirement

David A. Smith, CFP®, MSFS, AIF®

Monday, May 1, 2023

At any age, health care is a priority. But when you retire, you should probably focus more on health care than ever before. That's why it's particularly important for women to factor in the cost of health care, including long-term care...

What’s not to love about May! As the days get longer and the weather gets warmer, May brings a host of reasons to celebrate. It’s the perfect time of year to get outside, appreciate the beauty of nature, and spend time...

SECURE 2.0 Adds New Early Withdrawal Exceptions

David A. Smith, CFP®, MSFS, AIF®

Monday, April 17, 2023

The SECURE 2.0 Act, passed as part of an omnibus spending bill in December 2022, added new exceptions to the 10% federal income tax penalty for early withdrawals from tax-advantaged retirement accounts. The Act also expanded an...

Bank Failures Shine Light on Interest Rate Risks

Michael A. Cozad, CFP®, MSFS

Monday, April 10, 2023

Financial markets reacted turbulently to the collapse of Silicon Valley Bank (SVB) on March 10, 2023, followed two days later by the failure of Signature Bank of New York. With $209 billion in assets and $175 billion in deposits, SVB...

Happy April Greetings! What do rain showers, baseball, and Earth Day have in common? They all happen in April! So whether you’re anticipating May flowers, enjoying the opening of our national pastime, or renewing your focus...

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2022. If you had earned income last year, you may be able to contribute up to $6,000 for 2022 ($7,000 for those age 50 or older by December...

IRS Issues Guidance on State Tax Payments

David A. Smith, CFP®, MSFS, AIF®

Monday, March 20, 2023

The IRS has identified 21 states that made special payments to taxpayers in 2022. After a review of those special payments, the IRS has determined that taxpayers in many states will not need to report those payments on their 2022...

The Debt Ceiling and Deficit Spending

David A. Smith, CFP®, MSFS, AIF®

Monday, March 6, 2023

On January 19, 2023, the outstanding debt of the U.S. government reached its statutory limit, commonly called the debt ceiling. The current limit was set by Congress at about $31.4 trillion in December 2021.1On the day the limit was...

Welcome to March! It’s no secret that many of us are anxiously awaiting the first day of spring on March 20th, along with daylight saving time starting on 3/12. Beginning this month, we’ll start to see extended...

Five Ways SECURE 2.0 Changes the Required Minimum Distribution Rules

David A. Smith, CFP®, MSFS, AIF®

Monday, February 20, 2023

The SECURE 2.0 legislation included in the $1.7 trillion appropriations bill passed late last year builds on changes established by the original Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) enacted in 2019....

Determining the Need for Long-Term Care Insurance (LTCI): How Much Is Enough?

David A. Smith, CFP®, MSFS, AIF®

Sunday, February 12, 2023

IntroductionWhether you should purchase a long-term care insurance (LTCI) policy depends on your financial ability, age, health status, retirement objectives, and whether you have assets you want to protect. Once you've made the...

IRS Releases Standard Mileage Rates for 2023

David A. Smith, CFP®, MSFS, AIF®

Friday, February 3, 2023

Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2023. However, the standard mileage rates...

Welcome to February! Despite being the shortest month of the year, February often seems to last forever, with limited daylight and a lingering chill in the air. The calendar might imply that we’re nearing the end of winter,...

Is the Yield Curve Signaling a Recession?

David A. Smith, CFP®, MSFS, AIF®

Monday, January 23, 2023

Long-term bonds generally provide higher yields than short-term bonds, because investors demand higher returns to compensate for the risk of lending money over a longer period. Occasionally, however, this relationship flips, and...

Retirement Investors Get Another Boost from Washington

David A. Smith, CFP®, MSFS, AIF®

Monday, January 9, 2023

Amid the 1,650-page, $1.7 trillion omnibus spending legislation passed by Congress  last week and expected to be signed by President Biden were several provisions affecting work-sponsored retirement plans and, to a lesser degree,...

Wow, kinda hard to believe it’s 2023 already! Doesn’t the past 12 months seem like a blur? And yet, here we are with a clean slate ahead of us and a world of possibilities. Even in astronomy, there is a sense of new...

Tis the Season for Tax-Friendly Giving Strategies

David A. Smith, CFP®, MSFS, AIF®

Monday, December 19, 2022

You may donate money to charitable organizations throughout the year, for no other reason than your heart-felt desire to support causes that you care about. But if philanthropy is important to you, keep in mind that the associated tax...

Student Loan Repayment Delayed Again to Future Date in 2023

David A. Smith, CFP®, MSFS, AIF®

Monday, December 12, 2022

The Biden administration has announced another extension for repayment of federal student loans to an unspecified date in 2023 due to legal challenges that have blocked implementation of the student loan debt relief program. The...

College Cost Data for 2022-2023 School Year

David A. Smith, CFP®, MSFS, AIF®

Monday, December 5, 2022

Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average cost figures based on a survey of approximately 4,000 colleges across the country.Over the past 20 years,...

Welcome to December. This time of year makes us all feel something. It may be happy; it may be sad; it may be giddy or stressed. But as we approach the end of a challenging year (to say the least), the one thing WE are...

2022 Year-End Planning Tips

David A. Smith, CFP®, MSFS, AIF®

Monday, November 14, 2022

Here are some things to consider as you weigh potential tax moves between now and the end of the year.1. Defer income to next yearConsider opportunities to defer income to 2023, particularly if you think you may be in a lower tax...

What Does a Strong Dollar Mean for the U.S. Economy?

David A. Smith, CFP®, MSFS, AIF®

Monday, November 7, 2022

In late September 2022, the U.S. dollar hit a 20-year high in an index that measures its value against six major currencies: the euro, the Japanese yen, the British pound, the Canadian dollar, the Swedish krona, and the Swiss franc. At...

Medicare Open Enrollment Is Here: How Are Costs Changing for 2023?

David A. Smith, CFP®, MSFS, AIF®

Monday, October 17, 2022

Medicare's Open Enrollment Period — which runs from October 15 through December 7 — is your annual opportunity to switch your current Medicare health and prescription drug plans to ones that better suit your needs. Just in...

Estate Management Checklist

David A. Smith, CFP®, MSFS, AIF®

Monday, October 10, 2022

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...

CHIPs and Science Act Aims to Preserve U.S. Technology Edge

David A. Smith, CFP®, MSFS, AIF®

Wednesday, October 5, 2022

The CHIPs and Science Act of 2022, signed into law on August 9, is a bipartisan legislation package that provides more than $50 billion in direct financial assistance for semiconductor companies to increase U.S.-based design, research,...

New Cancellation for Federal Student Loans and Delayed Repayment to 2023

David A. Smith, CFP®, MSFS, AIF®

Monday, September 12, 2022

On August 24, 2022, just a few days before federal student loan repayment was set to resume, President Biden announced a plan for additional student loan debt relief.Federal student loan repayment was originally halted in March 2020 at...

Creating Your Family Legacy

David A. Smith, CFP®, MSFS, AIF®

Monday, August 29, 2022

While creating an estate plan is a common part of a financial plan, creating a family legacy is equally as important when thinking about how you want the wealth you’ve built to be distributed. In addition to including your family...

Is the U.S. Economy in a Recession?

David A. Smith, CFP®, MSFS, AIF®

Monday, August 22, 2022

In an early July poll, 58% of Americans said they thought the U.S. economy was in a recession, up from 53% in June and 48% in May.1 Yet many economic indicators, notably employment, remain strong. The current situation is unusual, and...

You May Need to Make Estimated Tax Payments If…

David A. Smith, CFP®, MSFS, AIF®

Tuesday, March 15, 2022

You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards. You also may...

Preparing for the Expected

David A. Smith, CFP®, MSFS, AIF®

Tuesday, March 15, 2022

As Teddy Roosevelt once observed, “Old age is like everything else. To make a success of it, you've got to start young.”1 The challenges seniors have met throughout their lives have made them wiser and stronger, preparing...