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Ways to Supplement Your Medicare Coverage
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...
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Sending You Warm December Wishes ☕
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...
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What You Need to Know About IRS Tax Changes for 2024
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...
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How to Rethink Your Media Subscriptions and Save on Monthly Fees
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...
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Grateful For You 🦃
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...
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Are You Messing Up With Money? Here’s 10 Key Hacks
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...
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Investing Has Been Ugly. Stick With It Anyway.
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...
Read MoreWhat is the FIRE movement?
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...
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Aren’t You Gourd Fall Is Here? 🍂
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...
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Why October Is A Special Month In The Stock Market
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...
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A Tax Break Worth the Hassles
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...
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Parents Have a New Incentive to Fund ‘529’ Plans
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...
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Biden’s student loan repayment program: four things you should know
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...
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Fall In Love With Fall 🍂
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...
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7 Financial Tips For College Freshman
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...
Read MorePreparing for Retirement Emotionally
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,...
Read MoreInflation & Your Money
“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...
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Don’t Let August Slip Away ☀️
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...
Read MoreWhere Will Your Retirement Money Come From?
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...
Read MorePositioning Your Income/Assets to Enhance Financial Aid Eligibility
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...
Read MoreU.S. Supreme Court Blocks Student Loan Cancellation, Payments to Resume
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...
Read MoreIs This Bull Timid or Ready to Charge?
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...
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Celebrate the Joys of July 🌞
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...
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Bypassing Probate
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...
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Congress Tells Treasury to Expect SECURE 2.0 Technical Fixes
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...
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Fiscal Responsibility Act of 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...
Read MoreA Trusted Contact Can Help Protect You
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...
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Asset Protection in Estate Planning
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...
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Embrace the Joyful Spirit of June
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...
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Understanding Social Security
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...
Read MorePlanning Points: SECURE ACT 2.0 Adds Early Withdrawal Exceptions
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...
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A Woman’s Guide to Health Care in Retirement
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...
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🌸MAY🌺 Your Month Be Full of Joy
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...
Read MoreSECURE 2.0 Adds New Early Withdrawal Exceptions
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...
Read MoreBank Failures Shine Light on Interest Rate Risks
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...
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April’s Focus on Growth and Self-Care
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...
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There's Still Time to Fund an IRA for 2022
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...
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IRS Issues Guidance on State Tax Payments
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...
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The Debt Ceiling and Deficit Spending
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...
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Marching Ahead Toward Spring!
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...
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Five Ways SECURE 2.0 Changes the Required Minimum Distribution Rules
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....
Read MoreDetermining the Need for Long-Term Care Insurance (LTCI): How Much Is Enough?
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...
Read MoreIRS Releases Standard Mileage Rates for 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...
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So Much to Do and See in February!
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,...
Read MoreIs the Yield Curve Signaling a Recession?
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...
Read MoreRetirement Investors Get Another Boost from Washington
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,...
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We Wish You a Happy and Prosperous New Year!
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...
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Tis the Season for Tax-Friendly Giving Strategies
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...
Read MoreStudent Loan Repayment Delayed Again to Future Date in 2023
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...
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College Cost Data for 2022-2023 School Year
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,...
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From Our Homes to Yours… Happy Holidays!
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...
Read More2022 Year-End Planning Tips
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...
Read MoreWhat Does a Strong Dollar Mean for the U.S. Economy?
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...
Read MoreMedicare Open Enrollment Is Here: How Are Costs Changing for 2023?
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...
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Estate Management Checklist
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...
Read MoreCHIPs and Science Act Aims to Preserve U.S. Technology Edge
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,...
Read MoreNew Cancellation for Federal Student Loans and Delayed Repayment to 2023
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...
Read MoreCreating Your Family Legacy
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...
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Is the U.S. Economy in a Recession?
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...
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You May Need to Make Estimated Tax Payments If…
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...
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Preparing for the Expected
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...
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