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What Does Financial Wellness Really Mean?
The concept of wellness is used often, generally when referring to a balanced and fulfilling life overall. But what does it mean when someone refers to their financial wellness? Financial wellness encompasses all aspects of an...
Read MoreLife Insurance Awareness Month
As the seasons transition and we enter fall, it’s a great time to reflect on the importance of securing your loved ones’ future. September is primarily recognized as Life Insurance Awareness Month, a season dedicated to highlighting...
Read MoreDebunking Common Myths about IRAs and 401(k)s
Individual Retirement Accounts (IRAs) and 401(k) plans are powerful tools for securing a financially stable retirement. However, misconceptions and myths can hinder individuals from making informed decisions about these essential...
Read MoreTen Birthdays Impacting Your Retirement Income
Your age significantly affects how much money you'll have during your retirement years, and different retirement benefits have different eligibility ages. Over the course of 23 years, from age 49 to 72, you'll need a financial...
Read MoreA Cautionary Tale of Estate Planning
On August 16, 1977, the “King of Rock ‘n’ Roll,” Elvis Presley, died of cardiac arrest. While many famous icons fail to plan for their estate properly, Elvis thankfully did so just five months before his sudden passing. However,...
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Social Security Taxation: Understanding How It Works
As the anniversary of the Social Security bill being signed into law (August 14, 1935)[i] approaches, we’re reminded of the intricate workings of the U.S. tax system. Social Security, a vital program designed to provide financial...
Read MoreDemystifying Income Tax in Retirement
On August 4, 1862, the U.S. collected income tax for the first time[i]. You may be ready to bid farewell to income tax obligations once you retire, but unfortunately, it’s not that simple. While the dynamics may shift, understanding...
Read MoreAsset-Rich but Cash Poor: Understanding the Retirement Predicament
Retirement is a time when most people expect to enjoy the fruits of their labor, with financial security and a steady income from investments or savings. However, for some individuals, this period can present a unique financial...
Read MoreDiscussing the Long-Term Care Question
Long-term care planning is an important aspect of retirement planning that is often overlooked. As people are living longer and healthcare costs are increasing, it is crucial to consider the cost of long-term care in retirement...
Read MoreUnderstanding the Retirement Picture for Gen X
A recent study by Investopedia found that Generation X’s biggest worry is retirement. The survey found that although many members of Gen X feel like they understand their finances, they are still concerned about transitioning into...
Read MoreUnderstanding the Classic Fixed Annuity
Whether you’ve learned about annuities before or it’s your first time hearing about them, it’s important to first understand the basic concept and one of its simplest forms. In general, an annuity is a financial product that provides...
Read MoreAre Annuities Right for You?
Annuities can be an excellent addition to your financial and retirement portfolio, but it's essential to determine whether they're the right fit for you and your financial goals. Here are some ways to know if annuities are right for...
Read MoreHow Do Annuities Really Work?
An annuity is an investment product that is designed to provide a guaranteed income stream for a predetermined period, often for the rest of one’s life. An annuity is typically purchased from an insurance company, and the purchaser...
Read MoreCovering the Basics of Annuities for Annuity Awareness Month
June is Annuity Awareness Month, a time to educate individuals on the benefits and importance of annuities. If you’re new to annuities or need a refresher, keep reading to understand the basics of annuities.Basically, an annuity is a...
Read MoreRetirement Tips for the High Net-Worth Individual
Retirement is a major milestone in the life of every individual, and it is no different for high-net-worth individuals. If you’re one of these individuals, you may think that being comfortable means you can worry less about retirement...
Read MoreWhat is a Rolling Recession?
You may have noticed that the economy after the pandemic has been volatile. And while there has been talk of a possible recession for a few years, we have yet to enter a traditional recession. A recession is defined as a consistent,...
Read MoreThe Role of Dividends for Income Generation
One investment and income strategy that can be useful when it comes to setting yourself up for retirement is one involving dividends. Dividends are regular payouts to shareholders based on the profits of the company. If you own some...
Read MoreSpring Cleaning for Your Financial Strategy
Come springtime, you might be thinking about doing some spring cleaning, whether it’s cleaning out your garage, throwing out old items, or rearranging your furniture. However, it’s important not to forget to do some spring cleaning on...
Read MoreFinancial Literacy – Do the Little Things
The concept of financial literacy refers to knowing the basics of financial concepts to make smart decisions. Specifically, financial literacy can help prevent costly mistakes that could derail your life plans, prepare you for...
Read MoreTeaching Financial Literacy to Your Kids or Grandkids
As an adult, you may have had tough learning moments when it comes to financial management. It could have been when you failed to pay your rent on time or got too deep in credit card debt. To keep your children or grandchildren from...
Read MoreIntroducing Financial Literacy Month
Financial Literacy Month is not only a celebration, it’s a challenge to take care of your finances as best you can. This month can be your opportunity to review your finances and take a concerted approach to improve them. But what’s...
Read MoreShould You Engage in Tax-Loss Harvesting?
If you’ve ever asked yourself, “what if there’s a way to reduce the taxes I owe when I sell stocks or rebalance my portfolio?” then you should know about the tax-minimization strategy called tax-loss harvesting. It’s important to know...
Read MoreHow Taxes Work on Social Security
You may not know it, but Social Security income is taxed! However, your tax burden isn’t simply a gross income tax, and there are unique factors that dictate your tax rate and overall tax liability. First, not all Social Security...
Read MoreStriking a Balance Between Tax and Income
In retirement, it’s not about receiving as much income as possible. During your working years, it might be, but when you’re the one paying yourself, it’s important not to turn your hard-earned savings into a large pile of income that’s...
Read MorePlanning Your Investments? Think About Tax
Thinking about investment strategy may conjure thoughts of stock trading, ticker symbols, brokerage accounts, and investment theses. But one of the most important factors in developing an investment strategy is the tax aspect.There are...
Read MoreDon’t Wait Until the Tax Filing Deadline: April 18, 2023
Don’t wait until April to prepare your taxes! Tax filing preparation is an important process for individuals and businesses. It is the process of gathering, organizing, and submitting tax documents to the relevant tax authorities. The...
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