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Six Potential 401(k) Rollover Pitfalls
You're about to receive a distribution from your 401(k) plan, and you're considering a rollover to a traditional IRA. While these transactions are normally straightforward and trouble-free, there are some pitfalls you'll want to avoid....
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Six Uses for Life Insurance You May Not Know About
When people think of life insurance, what usually comes to mind is settling the deceased's final expenses and providing financial support for their beneficiaries. Although these are the most common uses of life insurance, cash value,...
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Investing for Major Financial Goals
Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn't it? But that's what...
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Insurance Needs in Retirement
Your goals and priorities will probably change as you plan to retire. Along with them, your insurance needs may change as well. Retirement is typically a good time to review the different parts of your insurance program and make any...
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6 Tips for Surviving the Sandwich Generation Squeeze
Adults caring for aging parents and children simultaneously have now become known as the "sandwich generation." While each generation comes with its own array of financial challenges, the sandwich generation often feels a tight...
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Four Steps to Take if You’re Retiring Next Year
Retirement is a major transition point – as you go from saver to spender. It's common for people who are retiring to set their retirement date in either the springtime or the early summer. If you happen to be one of those...
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A Global Recession in 2023: Are We There Yet?
Pay heed to rising bankruptcies but examine other economic indicators too.As we approach summer, there has been a fair share of speculation and concerns about an impending global recession. And concerns over a potential global...
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When the Stock Market is Down, Should You Consider a Roth IRA Conversion?
A Roth IRA conversion involves repositioning traditional IRA or qualified employer-sponsored retirement plan assets into a Roth IRA. One reason people convert traditional IRAs or other retirement accounts into Roth IRAs is so they can...
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SECURE 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...
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Life Insurance: How Much Is Enough?
You may already be aware of the importance of having enough life insurance coverage to handle financial matters that could affect your family in the event of your death. However, determining the appropriate amount of coverage for your...
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Going Paperless in Account View 2.0
Get more security & convenience with your financial statementsI wanted to let you know you have the option to go paperless with your documents inside the Account View portal. Within the portal, you can sign up for paperless delivery of...
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Eleven Ways to Help Yourself Stay Sane in a Crazy Market
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It's useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are...
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3 Questions to Ask Yourself Before You Claim Social Security
Planning for retirement is exciting, but it may come with a bit of stress. If you worked hard all your life, now might be the time to relax and enjoy the fruits of your labor. One of the things that you may need to consider is when it...
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Sectors to Consider if Inflation Continues to Rise
The beaten-down sectors from 2022 might be worth another look in 2023.In general terms, the bond market will rally when increases in the Consumer Price Index (CPI) (inflation) are small and the bond market will fall when increases in...
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Financial 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.
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5 Ways a Financial Professional Could Be a Small-Business Owner's Best Friend
As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may...
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The Facts of LIFE (Living Independently For Elders): Financial Planning and Senior Independence
Navigating elder care and elder care finances in the U.S. can be a challenge even for the most well-prepared households. So what, exactly, is involved in senior financial planning? What steps can you take now to help you be prepared...
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Top 10 Provisions in SECURE 2.0
Congress passed SECURE 2.0 as part of the fiscal 2023 spending package. This bipartisan retirement security legislation could present opportunities for your retirement savings strategy.
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2022/2023 Tax Season at a Glance
Use this guide to help you this tax season.
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The IRS Increases 401(K) Limit By Record Amounts
As inflation soars, you can now save a lot more for your retirement. Last year, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500,...
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Tax Prep Checklist: Everything You Need to Be Ready for Tax Season
Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key...
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LPL Financial Research Outlook 2023: Finding Balance
Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the...
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The 12 Days of Year-End Planning: Things to Consider Going into “The New Year"
At the end of the year, it is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming. Consider breaking up the responsibilities over...
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5 Year-End Tax Planning Questions to Ask Your Financial Professional
The average U.S. income tax rate stands at just over 13%—and if you're like many taxpayers, you're always looking for new tips and tricks to help reduce this percentage.1There are a number of different tax planning moves you can...
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What the Mid-Terms Might Do to the Stock Market
The S&P 500 does best when one party controls Congress and the WH too.The 2022 Midterm Elections will feature hundreds of hotly contested races at the state and local level and will decide whether the Democrats maintain – or the...
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Preparing for Year-End and the 2022/2023 Tax Season
Year-end is approaching and being prepared is the best way to make this tax season your easiest yet. Following are important information and tools to help you get ready. As always, meeting with us early and often will ensure your...
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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:1....
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Your 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 one...
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Lessons from the Great Recession of 2007 – 2009
Before the next recession hits, make sure you are preparedAfter the Great Recession from 2007 to 2009 hit, far too many Americans found themselves without any savings to get through the hardships of unemployment, falling house prices,...
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Life Insurance: How Much Is Enough?
You may already be aware of the importance of having enough life insurance coverage to handle financial matters that could affect your family in the event of your death. However, determining the appropriate amount of coverage for your...
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Revive Your Family Game Night
Board and card games remain household staples for a reason; they spark a childlike joy. Regardless of how busy life is, your stress will melt away while playing these games.Family game nights connect household members and teach life...
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We Can Expect Eleven Rate Hikes Through 2024
Understanding how markets have reacted to previous Fed-hiking cyclesAt their recent March meeting, the Federal Reserve moved its fed funds target rate from near zero to a range of 0.25% to 0.50%. It was the first rate hike since 2018...
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Five Lessons To Remember During Bear Markets
The Stock Market has been trying to teach these lessons forever…. 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...
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2022 Midyear Outlook: Navigating Turbulence
Markets are always forward looking, so it’s important to remain focused on what lies ahead. There will most certainly be challenges, but there are also some tailwinds from a strong job market, still resilient businesses, and the...
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Types of Insurance
Each day, you face a variety of risks--risks to your life, your health, and your property. Although you can't eliminate many of these risks, you can take steps to guard against resulting financial losses. That's where insurance comes...
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Remember What Happened from 1996 – 2009?
March 9, 2009 – the market closed at its lowest level since 1996 and then… You probably are not aware that March 9, 2022 marks the 13th anniversary of what many call “The End of the Lost Decade” for the stock...
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Why Trying To Time The Market Is Unwise
Market timing is a “strategy” of deciding when to buy and sell stocks by attempting to predict which way and when stocks will move. Let’s look at an example and the data to determine why market timing is unwise.Timing...
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Pre-Vacation Home Safety Tips
Vacation is something that we all look forward to, but it’s important not to forget about your home—and its safety—while you’re away. With some pre-planning, it’s easy to make sure your house is safe and...
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Retirement Planning Options for Business Owners
In generalPerhaps you are self-employed or own a small business. Or, you may be directly involved in running a corporation or a tax-exempt organization. In any of these cases, you generally have the option of establishing a retirement...
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What role does Social Security play in your retirement income strategy?
As you near retirement, it's likely you'll have many questions about Social Security. How much will your retirement benefit be? When should you apply? Will earnings from a part-time job affect your benefit? Social Security has always...
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401(k) Rollover Options to Consider
When people are leaving their employer, one of the decisions they need to make is what to do with their 401(k). A retirement plan participant typically has four options (and may engage in a combination of these options), each choice...
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3 Estate Planning Tips for Small-Business Owners
For business owners, estate planning may seem like another task to do on a long to-do list. Having a solid estate and succession plan in place may be crucial to your business's long-term success. If you are incapable of making business...
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IRS Makes Contribution Limit Changes for 2022
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. “The contribution limit for employees who participate in 401(k)...
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Positivity Amidst Uncertainty: Russia, Ukraine, and the Markets
Stocks have gotten off to a very rocky start in 2022, with the potential for Federal Reserve rate hikes coming and the geopolitical worries over Russia and Ukraine only adding to the uncertainty. We don’t want to minimize the...
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In 2022 RMD Tables Are Changing, and That's Good News for You!
RMD Tables are changing to keep up with The SECURE Act of 2019. Under The SECURE Act, if you turned age 70 1/2 in 2019, you would've been required to take your first RMD by April 1, 2020. If you turned age 70 1/2 in 2020 or later, you...
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Getting Married in 2022 Means New Roth Rules
Know the rules so you don’t get hit with an excess contribution penalty. So you’re getting married in 2022? Congratulations. And when you add up all your income (yours and your spouse’s), you’ll earn more than...
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Improving Your Financial Health is Not Very Hard
“Keep it Simple, Stupid” is a great approach to organizing your finances. Some folks think financial planning is very difficult. While certain aspects are hard, such as constructing the right asset allocation to meet your...
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2022 Outlook: Passing the Baton
Our resurgent economy grew at over a 6% pace in the first half of the year and is on track for over 5% growth for the year when 2021 draws to a close. The current economic recovery, which started in May 2020, has benefited from...
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Your 2021 Year-End Planning Checklist
It may be easy to forget we're nearing the end of the year. Even during the busy end of year rush, it's a good time to reevaluate your 2021 finances and turn an eye toward 2022. What can you do now to potentially improve and streamline...
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What Veterans Should Know About Retirement Planning
Veterans' retirement benefits are among some of the most generous out there, in large part due to the risks and sacrifices that come from military service. But navigating this array of benefits may seem complicated. What should...
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Medicare Open Enrollment for 2022: What You Need to Know
Medicare Open Enrollment begins on October 15th, 2021. There are new changes to Medicare for 2022 that may impact your coverage and services in addition to regular Medicare coverage for Americans who are ages 65 and older and younger...
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What You Need to Know About Medicare Advantage Plans
If your 65th birthday is coming up—or if you're receiving Social Security Disability payments and are about to qualify for Medicare before age 65—you may be wondering exactly what comes next.1 Below, we discuss some...
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Inflation Varies According to Your Age & Spending
The headline Consumer Price Index is important only as a general gauge. What will inflation be in the coming years? The real answer is that it varies according to your age and spending patterns. Inflation could wallop someone with kids...
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When to Begin Collecting Social Security
Deciding when to retire and begin collecting Social Security is an important life decision. For some, savings losses may dictate that you delay your retirement plans and continue working, which means postponing when you begin...
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All About Medicare and How It Impacts Financial Planning
At its core, Medicare is a federal health insurance program for Americans who are ages 65 and older and younger people with disabilities. Here are key points to know about Medicare: What Does Medicare Cover? Medicare Part A pays for...
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