We’ve covered a lot of ground in 2019—including everything from investments and long-term care insurance to social security and estate planning. As the year comes to a close, join us in taking a look back at the top articles from Wealth Enhancement Group, as chosen by our readers. Browse our Best of 2019 articles below to revisit your personal favorites or read up on a topic you may have missed.
One of the biggest challenges we see when we start working with clients is that they don’t have a solid understanding of what their starting point is. Use these steps to get a clear idea of where you’re at so you’ll know whether you’re on track to meet your long-term needs.
While personal preferences, goals and priorities should drive most financial decisions, they often can convert a good intention into a mistake. Keep taxes at the forefront of your retirement planning so you don’t fall victim to these mistakes.
For about half of married couples receiving social security benefits, those benefits make up 50% or more of their retirement income. So what happens to the surviving spouse’s monthly social security benefit when one spouse dies?
One season of could work perfectly in your favor, only for things to take a turn for the worst unexpectedly. It’s easy to bring a similar mentality to your investments, crediting your gains to skill and savvy, while blaming losses on bad luck. This overconfidence can potentially cost you heavily down the road.
What a “successful” investment portfolio looks like for you will vary depending on your life stage and goals. Start building an investment strategy to help reach your goals with the least amount of risk possible. Most successful approaches include these four elements.
According to a report out by Betterment, 40 percent of U.S. workers will be engaged in some kind of gig work within the next year. Having a side hustle can help you transition into retirement, by providing structure and delaying when and to what extent you draw down your retirement savings.
According to the U.S. Department of Health and Human Services, an average of 70% of people 65 and older will need long-term care at some point in their lives. That doesn’t mean LTC insurance has to be overwhelming or daunting—consider the peace of mind it could provide.
If your capital gain is unusually high, you may find that the costs associated with the gain are more than you expected. What other taxes could a large capital gain trigger? You might notice these ripple effects in your financial plan.
If you've been offered Non-Qualified Stock Options as part of your compensation package, you probably have a lot of questions about if, when and how to exercise them. Since NSO's are not tax-advantaged, however, it is important to consider the tax ramifications of utilizing them.
When creating an estate plan, most people typically focus on how to transfer to assets to heirs, but most don’t consider the outcome it creates for the beneficiaries. Be confident your children’s tax situation isn’t eating up their portion of the inheritance.
As the range of topics that struck a chord with our readers included here shows, there is no one-size-fits-all approach that works for everyone. When it comes to your finances and retirement, there is a lot to consider, and a worry-free retirement begins with an effective plan. Download our free guidebook, Beyond Investing: Creating Your Retirement Income Plan, and start working toward the relaxing retirement you deserve.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Established in 1997, Wealth Enhancement Group uses a team approach with a focus on simplifying their clients’ financial lives and has offices nationwide.