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This week on 7 Market Movers, tariffs are back in the news. Wealth Enhancement’s Deputy Chief Investment Officer Doug Huber walks us through the expiration of the 90-day moratorium on tariffs and what that could mean for the markets. He also covers the recent meeting of the Federal Reserve and the potential for rate cuts later in the year. Watch to find out what else happened this week, including what Amazon’s Prime Day Sales could indicate for consumer spending.
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In today’s world, financial independence means something a little different for each person. For some, it’s the ability to retire comfortably — or even early — and live off savings and investment income.
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Explore the key changes in the 2025 One Big, Beautiful Bill (OBBB) tax law—including permanent tax cuts, expanded deductions, estate tax updates, bonus depreciation, and more.
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Despite facing severe headwinds, the S&P 500 closed Q2 at an all-time high. Investors remain optimistic, although elevated market valuations and margin-driven earnings growth signal potential vulnerabilities.
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In the June 2025 edition of “Markets Monthly: Strategies & Perspectives,” get market updates and insights from Wealth Enhancement’s Investment Management team.
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If you are among the 73%* of private sector workers with access to an employer-sponsored retirement plan, let’s talk about how we can help ensure your workplace retirement account is working as hard as you are.
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If you've been estate planning, you've probably come across the idea of setting up a trust. Trusts are flexible and diverse legal entities that you can use to achieve various estate planning goals, including reducing your estate tax burden.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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The market pulled back slightly so far this week and retail sales fell below expectations—declining by 0.9%. There was also a 3.5% decline in auto sales, indicating consumers’ hesitation to make big ticket purchases. Watch as Gary Quinzel, Vice President for Portfolio Consulting, discusses the Federal Reserve’s reaction and other macroeconomic headlines.
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Choosing a retirement date is an exciting time. Not only does it mean you no longer have to bust your hump at a nine-to-five for years on end, but it also signifies your transition into the next phase of your life–potentially the best phase of your life.
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Explore the latest economic insights with Aya Yoshioka in this episode of 7 Market Movers. From strong job growth and easing inflation to fiscal policy impacts and bond market trends—get the key takeaways shaping markets in 2025.
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Discover why market volatility isn't unprecedented and how history offers valuable lessons for investors. Learn why disciplined, long-term strategies outperform market timing and how quality investments rebound over time.
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For many of us, paying income tax isn't a concern. We work, we earn a salary, an appropriate amount is taken out of our paychecks by our employers, and that's that. We don't think much about it until it's time to file income tax returns every April.
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This week on 7 Market Movers, Aya Yoshioka, Doug Huber, and Gary Quinzel from Wealth Enhancement’s Investment Management team discuss the positive indicators they saw in the markets this week. Inflation came in softer than expectations, the consumer sentiment index came in higher than expected, and the jobs report also exceeded expectations, indicating an increase in hiring from US companies.
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What do retirees wish they’d done differently with their money? Discover timeless financial lessons from those in their 70s and 80s—on saving, investing, healthcare, and finding true financial freedom.
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Discover how a Health Savings Account (HSA) can boost your retirement strategy. Learn about tax advantages, eligibility, and why saving HSA funds for retirement may be a smart move.
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May 2025 saw the S&P 500 post its best May return since 1990 amid easing trade tensions, resilient earnings, and a U.S. debt downgrade. Explore key market drivers and investor takeaways.
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Learn how to create a meaningful wealth mission statement that aligns your personal, family, and business goals. Discover tips, examples, and steps to guide your financial vision.
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This week on 7 Market Movers, Wealth Enhancement’s Deputy Chief Investment Officer Doug Huber discusses multiple developments in the news, including trade wars, tech earnings, and the new federal budget bill working its way through Congress. He talks about how “markets can handle bad news; the uncertainty is what they struggle with.” Find out what this means for markets in the video below.
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Join Gary Quinzel and Aya Yoshioka for the May 2025 edition of “Markets Monthly: Strategies & Perspectives.” Gary and Aya provide market updates and insights from Wealth Enhancement’s Investment Management team, including a resurgence for U.S.
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Struggling to plan for retirement? Discover how visualizing your future self—and working backward—can make saving feel easier and more achievable. Learn how to close the gap between now and your financial goals.
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Discover how a financial advisor can help you navigate market volatility, optimize your 401(k), and build a holistic, tax-efficient retirement plan with confidence.
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For many Americans, Social Security is a crucial component of retirement. The problem, however, is that there is a lot that people don't know about Social Security and a lot of inaccurate information about it.
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Is market volatility really something to fear? Discover why long-term investors should embrace volatility, how to spot opportunities during market swings, and why media narratives often miss the mark.
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Most people understand the value of maintaining a long-term outlook when it comes to their investment strategy. Amid ongoing market swings, however, it can feel difficult to stay the course. Despite the uncertainty, it’s important to remain focused on the big picture to help manage the effect that emotional selling may have on your overall financial plans. In fact, market downturns may even present portfolio and planning opportunities that may not seem obvious at first.
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This week on 7 Market Movers, Portfolio Consulting Director Aya Yoshioka dives into the latest news on tariffs, taxes, and economic indicators. While the S&P 500 is back into positive territory for the year, Aya discusses the potential future impacts of tariffs on consumers and businesses and what to expect with interest rate cuts.
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When it comes to investment opportunities, publicly traded securities like stocks and bonds dominate the conversation. However, private holdings offer intriguing prospects for investors looking to diversify their portfolios and tap into unique opportunities. They also make up a huge universe of investments beyond the publicly traded markets.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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Our latest episode covers the potential for a recession, the International Monetary Fund’s recent World Economic Outlook, and the anticipated timing of future interest rate cuts. Watch as Gary Quinzel, Vice President for Portfolio Consulting, focuses in on economic growth, fiscal and monetary policy, interest rates, and inflation to explain what’s going on in the markets this week.
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For the period April 1 – April 30, 2025.
Executive Summary
Equity markets experienced significant volatility in April but ultimately ended on a positive note. Amidst ongoing concerns about the trade war, uncertainty persists, shaking investor confidence. Even as the stock market recovers, making bold predictions as to what happens next is a futile task.
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This week on 7 Market Movers, Portfolio Consulting Director Aya Yoshioka discusses the results coming out of earnings season, specifically highlighting the six members of the Magnificent Seven who have reported so far. Microsoft and Alphabet (Google’s parent company) saw strong growth in their cloud computing services while Tesla saw a rally despite missing earnings expectations.
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Retirement is the single largest financial goal that most people will strive for, which is why it’s such an important focus in financial planning and wealth management. Whether you’re 25 or 55, it’s never too early (or too late) to start crafting your retirement plan. The more prepared you are, the better your chances of achieving a long and comfortable retirement.
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Worried about market volatility? Learn when it matters most—like near retirement or with high stock allocations—and how a long-term plan can help you stay on track.
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Financial management isn’t just about preparing for retirement or reducing taxes. It’s also about looking for opportunities to save money over time. One way to accomplish this is by saving energy at home. An energy-efficient home is one that uses less energy on a day-to-day basis—and it can be accomplished with some simple lifestyle changes and eco-friendly home improvements. In some cases, these investments even qualify you for a tax credit, which can help defray your upfront costs.
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In the video below, Wealth Enhancement’s Deputy Chief Investment Officer Doug Huber focuses on the “outsized volatility” in municipal bond markets. Driven by concerns over market volatility linked to trade tensions, seasonal selling, and a desire for some investors to move back into equity markets, the municipal markets are seeing wider spreads than normal. Watch to learn more.
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In this webinar, which originally aired on April 24, 2025, two of Wealth Enhancement’s senior portfolio specialists, Gary Quinzel and Aya Yoshioka, discuss a brief history of tariffs in the U.S., investment market reactions to all the headline
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Retirement planning is a complex process built over years of hard work.
For employees of companies like Chevron, you are wise to carefully weigh various key retirement factors – particularly the timing of your retirement. That’s because timing can directly impact the benefits you receive.
Below, we explore a few crucial factors for Chevron employees to consider when choosing your ideal time to retire.
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This week on 7 Market Movers, Portfolio Consulting Director Aya Yoshioka discusses the “strange trifecta” going on in the markets right now and the latest comments from Federal Reserve Chair Jerome Powell. Using our 7 Market Movers framework, Aya also covers global economic growth, interest rates, inflation, fiscal policy, monetary policy, global macro risk, and investor confidence to explain what’s happening in the markets and what it means for you.
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We’re still early enough in the year that financial resolutions may still be fresh in your mind. One common resolution for those ramping up toward retirement is to max out their 401(k).If you have the financial flexibility, you may be able to front-load your 401(k) contributions. That is, rather than spacing out your annual contributions throughout the year, you can instead max out your 401(k) contributions within the first few months of the year.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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By Ben Popken
Data Work by Elena Cox
Photo Illustration by Elizabeth Ciano // Stacker // Shutterstock
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Our latest episode focuses on the market rally that occurred on Wednesday after the Trump Administration announced a 90-day pause on most tariffs. The S&P 500 closed Wednesday up 9.52%. Watch as Gary Quinzel, Vice President for Portfolio Consulting focuses in on fiscal policy and investor sentiment as he explains the market movers at play.
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In this special episode of 7 Market Movers, Wealth Enhancement’s Deputy Chief Investment Officer Doug Huber looks at the impact that tariffs have had on the markets over the past few days.
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For the period March 1 – March 31, 2025.
Executive Summary
Equity markets faced significant challenges in March, with major indices experiencing notable declines. Tariffs dominated headlines and lowered expectations for economic growth while simultaneously raising expectations for inflation.
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Editor's Note: This article was updated on April 16, 2025.
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Federal retirement isn’t one-size-fits-all. Discover how key work anniversaries and age milestones—from 5 to 30 years of service, and ages 55 to 62—can unlock critical benefits like pensions, health insurance, and penalty-free withdrawals. Plan your retirement with confidence.
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Join Aya Yoshioka for the latest episode of our new series 7 Market Movers. This week, Aya focuses on the hot topic in the markets: tariffs. Using our 7 Market Movers framework, Aya looks at global economic growth, interest rates, inflation, fiscal policy, monetary policy, global macro risk, and investor confidence to explain what’s happening in the markets and what it means for you.
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On April 2, the Trump administration formally announced reciprocal tariffs that will take effect on Saturday, April 5, 2025, with higher duties taking effect next Wednesday, April 9, 2025. These tariffs are larger and more far-reaching than most expected, reigniting growth and inflation concerns across capital markets.
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For decades, public-sector retirees with state-backed pensions have faced reductions in their Social Security benefits due to the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions were designed to adjust Social Security payments for those receiving government pensions. But now, that’s all changed.
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Selling a business can be a challenging process, both emotionally and logistically. On the one hand, you’ve likely spent years growing your business and see it as far more than a job—it’s a part of you. On the other hand, you don’t want your emotions to cloud your judgment and impact the sale.
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Almost 70 million Americans will receive some form of Social Security in 2025, totaling about $1.6 trillion in benefits.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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Join Doug Huber for the latest episode of our new series “7 Market Movers.” This weekly video provides you with updates on what’s happening in the markets and why from our Investment Management Team. In this short video, Doug considers global economic growth, interest rates, inflation, fiscal policy, monetary policy, global macro risk, and investor confidence to determine what is moving the markets this week.
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Healthcare is an often-overlooked part of your finances. You may think you have a sound financial plan, but if you haven’t properly considered your healthcare needs (and how to pay for them), the retirement of your dreams may never be a reality.
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Growing older is a privilege not everyone gets to experience. For those of us lucky enough to live into our 70s, 80s, 90s, and beyond, we have stay healthy, both physically and mentally, to get the most out of life. Maintaining healthy habits and focusing on financial and mental health can help you maintain your overall quality of life.
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Join Doug Huber and Gary Quinzel for the March 2025 edition of “Markets Monthly: Strategies & Perspectives.” Doug and Gary provide market updates and insights from Wealth Enhancement’s Investment Management team, including U.S.
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Join Gary Quinzel for the first episode of “7 Market Movers,” a weekly update on what’s happening in the markets and why from our Investment Management Team. In this short video, Gary considers global economic growth, interest rates, inflation, fiscal policy, monetary policy, global macro risk, and investor confidence to determine what is moving the markets this week.
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Did you know that there are estate planning tools your family can use to both protect your assets and potentially reduce your tax exposure? Known as an FLP, a Family Limited Partnership could be the answer to your estate planning questions.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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We are reposting this video in honor of Women's History Month and International Women's Day!
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Executive Summary
Uncertainty is the talk of the town. Mixed economic data, a budding trade war, geopolitical concerns, and weak seasonality all have contributed to a modest pullback for most U.S. stock indices. Despite the headwinds, expectations for rate cuts have ticked higher, which should help support stocks in case of a near-term disruption to economic growth.
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Explore how new U.S. tariffs on Canada and Mexico are impacting markets, inflation, and Fed policy. Get expert insights from our Investment Management Team on economic risks, interest rate outlooks, and portfolio strategy in a volatile environment.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com. Advisory services offered through Wealth Enhancement Advisory Services, LLC, a registered investment advisor and affiliate of Wealth Enhancement Group.
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By Elena Cox
Story editing by Alizah Salario. Additional editing by Elisa Huang. Copy editing by Paris Close
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Join Wealth Enhancement’s Brian Kuhn as he interviews Retire Federal’s Tammy Flanagan regarding the recent federal worker layoffs and how those affected can pursue retirement or unemployment benefits. Topics discussed include:
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Join Gary Quinzel and Aya Yoshioka for the February 2025 edition of “Markets Monthly: Strategies & Perspectives.” Gary and Aya provide market updates and insights from Wealth Enhancement’s Investment Management team, including the economic imp
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Serving as an estate executor? Learn the 10 essential steps to manage and distribute assets, handle taxes, and navigate legal duties with confidence and clarity.
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When people think about estate planning, a will is usually the legal document that first comes to mind. In reality, an effective estate plan should include additional elements, such as a trust, power of attorney, healthcare directives, and beneficiary designations.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com. Advisory services offered through Wealth Enhancement Advisory Services, LLC, a registered investment advisor and affiliate of Wealth Enhancement Group.
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Facing unexpected changes as a federal employee? Learn how Voluntary Early Retirement (VERA), Deferred Resignation, and Discontinued Service Retirement (DSR) could impact your pension, health benefits, and future plans. Explore your options and protect your retirement.
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Learn how to withdraw from your 401(k) at age 55 without penalty using the IRS “Rule of 55.” Discover key rules, avoid costly mistakes, and create a smarter retirement plan.
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For the period January 1 – January 31, 2025
Executive Summary
Despite splashy headlines, equity markets again hit an all-time high in January and finished the month with positive returns. Looking ahead, markets now face a fluid backdrop, where new uncertainties introduce added complexity and volatility.
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Every investor is unique, which is why a good financial planner will help you tailor your investment strategy to your personal goals. However, there is one principle of investment that applies universally: the power of compound interest to help you build wealth over time.
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Learn how a Qualified Domestic Trust (QDOT) can help non-U.S. citizen spouses defer estate taxes, preserve wealth, and maintain financial security. Discover eligibility, tax implications, and planning strategies.
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Tax scams are on the rise, with cybercriminals using AI and phishing tactics to steal personal data. Learn how to protect yourself from fraud, identity theft, and unqualified tax preparers this tax season.
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Buying your first home is a significant milestone. It represents years of planning and hard work—scraping together a down payment, saving up for the unexpected, and fully committing to a place for the next chapter of your life.
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The S&P 500 finished last year 23.1% higher than the previous year, marking the first time we’ve seen back-to-back annual 20%-plus gains since 1998. The outlook for 2025 remains broadly optimistic, but several wildcards could dampen the mood.
In this webinar, which originally aired on January 30, 2025, Wealth Enhancement investment specialists Jim Cahn, Doug Huber, and Aya Yoshioka discussed investment market performance and previewed what to watch for in 2025, including:
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On January 20, President Trump signed 26 Executive Orders on a range of topics from TikTok to immigration, including six Orders that impact federal workers. We have summarized the Orders that impact federal workers and prepared a Federal Employee's Guide to Employment Uncertainty for your reference.
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Federal employees: Prepare for potential changes from new Executive Orders. Learn how to build your support team, plan your career, and strengthen your finances during uncertain times.
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More adult children are moving back home—but at what cost? Learn how to support boomerang kids without sacrificing your financial future, with tips on budgeting, boundaries, and long-term planning.
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Small businesses aren’t as small as you may think. According to the U.S. Chamber of Commerce, small businesses drive 44% of the country’s GDP, and employ more than 60 million Americans. Even so, small business owners often forego financial
planning—sometimes until it’s too late.
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Despite concerns about inflation and overall preparedness, Americans are looking forward to retirement, according to new survey research* we conducted this year.
77% of Americans expressed positive emotions such as happiness (45%) and gratitude (37%) when asked how they feel when they think about retirement, according to the study of 1,000 U.S. adults. For those already in their golden years, 90% don’t regret retiring when they did and 33% say it’s even better than expected.
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For the period December 1 – December 31, 2024.
Executive Summary
While the Santa Claus rally failed to materialize, the S&P 500 finished the year 23.1% higher, the first back-to-back annual 20%-plus gains since 1998. The outlook for 2025 remains broadly optimistic, but several wildcards could dampen the mood.
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President Biden signed the “Social Security Fairness Act of 2023” into law on January 5, 2025, allowing for increased Social Security benefits for public workers who also receive pensions.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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In this episode of “Investment Management Foundations,” Aya Yoshioka, Portfolio Consulting Director at Wealth Enhancement, discusses US equity market performance relative to the European Union.
VIDEO TRANSCRIPT:
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Join Aya Yoshioka and Doug Huber for the December 2024 edition of “Markets Monthly: Strategies & Perspectives.” Aya and Doug share economic highlights, market updates, and insights from Wealth Enhancement’s Investment Management team—including an update on the December 18 Fed meeting and the implications of the most recent interest rate cut.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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By Dom DiFurio
Alex Slitz // Getty Images
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Estate planning can be a taxing (pun intended) part of creating a comprehensive financial plan. You worked hard to accumulate your wealth, and you want to pass as much of it as possible to your beneficiaries.
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There’s a world of opportunity beyond the borders of the United States. For decades, many Americans have looked overseas, seeking both fulfilling and cost-effective retirements.
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For the period November 1 – November 30, 2024.
Executive Summary
With the US presidential election in the rearview mirror, US equities climbed higher in November and bond yields declined. Risk assets continue to be supported by a positive macroeconomic backdrop, solid earnings growth, and an accommodative Fed.
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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In today’s economic climate, the only constant is change. With each passing year, new retirement account contribution limits, revised tax rules, and personal lifestyle shifts make it important to revisit your retirement savings strategy.
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Although estate planning can be complex, one of its primary goals is to help you make sure that your loved ones are taken care of into the future. That’s often why people choose to create trusts—legal structures that let you transfer assets to your beneficiaries while also reducing your estate tax liability. Not surprisingly, spouses are frequent beneficiaries of a trust.
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As the year draws to a close, it’s time to start integrating tax-smart strategies into your financial plan for the upcoming tax season. Effective tax planning can help you minimize your tax burden, maximize your savings, and enhance financial success into 2025 and beyond.
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Individuals seeking financial advice today have more options than ever before. While friends, family, and colleagues have always been a trusted resource, we are now awash in a sea of financial information, including from websites, social media, and robo-advisors.
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A financial planner helps their clients with financial planning and reach long-term goals. Individuals and families will benefit from the experience and personalized approach of financial planning services. The support of a professional planner addresses investment management, tax planning, and more. Here are some benefits of working with a financial planner:
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By Bruce Helmer and Peg Webb, Financial Advisors at Wealth Enhancement Group and co-hosts of “Your Money” on WCCO AM 830 on Sunday mornings. Email Bruce and Peg at yourmoney@wealthenhancement.com.
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Wealth Enhancement offers financial planning services to help our customers better prepare for the future. No matter your goals, we are here to help with customized financial strategies. Here is more information about our services, the benefits of wealth management, and other key details:
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In the November 2024 edition of “Markets Monthly: Strategies & Perspectives,” members of Wealth Enhancement’s Investment Management team Gary Quinzel and Aya Yoshioka share economic highlights, market updates, and more—including the potential
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When imagining the perfect retirement, most people dream about travel, hobbies, or time spent with loved ones. That’s certainly more fun than planning for long-term care. However, according to the U.S. Department of Health and Human Services, roughly 56% of adults aged 65 and older will need some form of long-term care during their lifetime.
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In this episode of “Investment Management Foundations,” Aya Yoshioka, Portfolio Consulting Director at Wealth Enhancement, discusses how gold can be used as part of your portfolio.
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In this webinar that originally aired on November 14, 2024, Wealth Enhancement Tax Director Angelica Gumabon discusses some high-level tax strategies to consider as we approach the end of the year, including:
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For the period October 1 – October 31, 2024.
Executive Summary
Global equity and fixed income markets retreated in October, reflecting the uncertainty of policy implications leading up to the U.S. election. Now knowing the outcome, as we enter a historically strong season for equity markets, we note that seasonality has been even stronger in past election years, which bodes well for investors.
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Every year, the IRS announces adjustments to tax brackets to account for inflation. Given the blazing rates of inflation in 2021, 2022, and 2023, many taxpayers may have become accustomed to significant bracket adjustments. However, with inflation cooling during 2024, the newly announced adjustments are smaller than those of recent years.
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In the October session of our ongoing webinar series, “Markets Monthly: Strategies & Perspectives,” our panel of Roundtable™ specialists, including Jim Cahn, Doug Huber, Gary Quinzel, and Aya Yoshioka, discuss investment market performance in the third quarter, including:
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As you get closer to your chosen retirement date, it’s not uncommon to feel a sense of unease. Sure, you’ve been saving and planning, but how can you be certain that you’ve done enough?
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The concept of an inheritance is well known—but "inheritance," as defined by people and by the law, can often be two very different things.
Specializing in trust services, I’ve crafted estate-planning solutions for countless clients. A particular highlight for me is working with them on understanding the fundamental intricacies of inheritance. Let’s explore the process of passing on assets.
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In this episode of “Investment Management Foundations,” Gary Quinzel, Vice President of Portfolio Consulting at Wealth Enhancement, discusses the Small Cap premium, which is the difference in returns between Small Cap and Large Cap stocks.
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Are you a retiree or nearing retirement? Learn why involving your adult children in financial and estate planning is crucial for protecting your legacy, avoiding future stress, and ensuring your wishes are honored.
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Planning for retirement is crucial for your financial well-being, whether you’re an employee, consultant, or business owner. As your career evolves and you start preparing for retirement, you’ll need to consider which type of retirement account is right for you.
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An incentive stock option (ISO) gives an employee the opportunity to buy shares of their company’s stock at a specific price, during a specific window of time.
ISOs can be a powerful investment tool because they allow you to purchase stock at a discount. However, they also come with risk—and potentially significant tax consequences.
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You've heard the adage, "It takes money to make money." That is very often true. Similarly, it takes income to pay income taxes. If you are in a position where you are offered deferred compensation, you may have the opportunity to pay less in income taxes and have more money when you need it the most.
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In this episode of “Investment Management Foundations,” Aya Yoshioka, Portfolio Consulting Director at Wealth Enhancement, explains what the Fed’s interest rate cut on September 18, 2024 could mean for investors.
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End-of-life planning is more than finances, it's about dignity, clarity, and care. Learn the essential documents, costs, and strategies to protect your legacy and loved ones.
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For the period September 1 – September 30, 2024.
Executive Summary
Despite recent bouts of volatility, equity markets marched higher, ending the third quarter at all-time highs. The Fed began a recalibration of interest rates with a 50-basis point cut, as they see balanced risks to both inflation and employment.
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In this episode of “Investment Management Foundations,” Gary Quinzel, Vice President of Portfolio Consulting at Wealth Enhancement, discusses structured notes, which combine zero-coupon bonds with options (puts and calls) linked to an underlying index like the S&P 500.
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As the U.S. presidential election approaches, tax policy is a critical topic for voters. The candidates’ tax plans not only reveal their broader economic ideologies but also provide insight into how they will manage issues like income inequality, economic growth, and fiscal responsibility. To help you understand where each candidate stands, here we compare the tax policy plans proposed by Vice President Kamala Harris (D) and former President Donald Trump (R).
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Learn the essentials of estate planning—from wills and trusts to tax strategies and healthcare directives. Use this step-by-step guide to protect your legacy and loved ones.
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Understanding capital gains tax is essential for savvy investors. If you're aiming to maximize your returns, you need to know when you'll encounter capital gains taxes and how to deal with them.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Senior Portfolio Manager Ayako Yoshioka discusses the Global Industry Classification Standard (GICS) sectors and explains how different sectors are impacted by the business cycle and how sensitive each sector is to interest rates.
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There’s no one-size-fits-all approach to retirement planning because there’s no one-size-fits-all financial plan. No matter how close or far away retirement seems to you, there are decade-by-decade guidelines you can follow to make sure you’re working in the right direction.
20s — Lay the groundwork, and don’t hamstring yourself
We know, you don’t want to hear it. Your 20s are about getting an education, settling into your career, and, yes, enjoying your young adulthood.
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Many people believe they’re not “rich enough” to have an estate plan, but estate planning isn’t just about how much money you have. So, what is estate planning about?At a high level, it’s about making things easier for your heirs. Generally, it involves activities such as:
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If part of your compensation package includes access to an Employee Stock Purchase Plan (ESPP), it could provide you with an easy way to purchase company stock at a discount. While this may give you an opportunity to build your wealth, the tax rules associated with ESPPs may introduce unintended consequences.
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In the September 2024 edition of “Markets Monthly: Strategies & Perspectives,” members of Wealth Enhancement’s Investment Management team Ayako Yoshioka and Gary Quinzel share economic highlights, market updates, and more—including the impact
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Understand the latest IRS rules on required minimum distributions (RMDs) for inherited IRAs. Learn how SECURE Act changes impact beneficiaries and tax planning strategies.
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Maximize your retirement strategy before year-end. Explore key moves for individuals and plan sponsors—from 401(k) contributions and RMDs to plan compliance and tax planning.
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You’re almost ready to retire, finally in the home stretch. You can see the finish line, and once you get there, the rest of your life will be nothing but playing golf and sipping piña coladas. The rest is in your financial advisor’s hands. After all, they got you to this point. Why wouldn’t they be able to get you through it?
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Receiving an inheritance can be a strange thing. While you are still in mourning, you realize that someone close to you has entrusted you with their money or assets. And these are now your responsibility. Many people feel a complex mix of emotions—grateful, heartbroken, and overwhelmed all at once. Fortunately, working with a wealth planner can help you navigate this responsibility.
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Each year, Giving USA publishes a report called The Annual Report on Philanthropy, which outlines the state of charitable giving in the United States. In the 2023 report, they stated that Americans gave over $550 billion to charity in 2023 —over $50 billion more than in 2022.
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In this episode of “Investment Management Foundations,” Gary Quinzel, Vice President of Portfolio Consulting at Wealth Enhancement, discusses some of the differences between investing in mutual funds, exchange traded funds (ETFs), and individual stocks.
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New research reveals how Americans feel about retirement amid election-year uncertainty. Explore key insights on inflation fears, financial planning gaps, and generational outlooks.
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By Dom DiFurio Domenico Fornas // Shutterstock
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Born between the years of 1946 and 1964, the Baby Boomer generation has lived through significant societal milestones — from the counterculture of the 60s and the Vietnam War, through the moon landing, the Cold War, the invention of the internet, 9/11, the Great Recession, and beyond.
Now, more and more Baby Boomers are experiencing a new milestone: They’re turning 73.
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Overall, there are about 42.5 million Americans who live with disabilities, making up 13% of the population, according to 2021 Census data. This group includes people who have hearing, vision, cognitive, walking, self-care, or difficulties living independently. Not surprisingly, older Americans are significantly more likely than younger adults to have a disability (45% of Americans 75 and older vs.
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Trusts can play a crucial role in your estate planning strategy. They can reduce your taxable estate and allow you to determine how and where your assets will be transferred to your loved ones after you pass.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Senior Portfolio Manager Ayako Yoshioka discusses the differences between investing in U.S. and international stocks, highlighting periods of outperformance and why international stocks can be helpful when diversifying your portfolio.
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In the field of financial management, charitable giving is pivotal when it comes to the transfer of assets. It shows a commitment to social responsibility and is a strategic wealth management approach.
Understanding the nuances of incorporating charitable giving into your wealth transfer strategy is important. This may include understanding charitable gift annuities, navigating the rules of charitable contributions, and making informed decisions about your donations.
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For the period August 1 – August 31, 2024
Executive Summary
After a brief bout of volatility to start the month, equities roared back to finish August near all-time highs, propelling us toward the first rate cut since March 2020. The Fed has signaled their intentions, as their focus has clearly shifted to the labor market, which is showing signs of slowing.
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In this episode of “Investment Management Foundations,” Gary Quinzel, Vice President of Portfolio Consulting at Wealth Enhancement, discusses the significance of monetary policy, highlighting its impact on interest rates, economic stability, and investment market behavior.
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For many, retiring to their cabin is a lifelong dream. Maybe you inherited this cabin from your parents, and you’ve kept it to pass on to your own children. Maybe you purchased this cabin, so you and your children could have a getaway all to yourselves. You expect to see your grandchildren swimming, water skiing, and learning to fish here, just as your children have done.
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Presidential elections always breed uncertainty, and while we’re sure to have many questions leading up to November, one of the more pressing is, “How will the election impact markets?”
In this webinar, Gary Quinzel and Ayako Yoshioka from our investment management team discuss:
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In this episode of “Investment Management Foundations,” Wealth Enhancement Senior Portfolio Manager Ayako Yoshioka discusses the significance of the U.S. dollar as the world's leading reserve currency.
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Discover the five essential documents—Will, Power of Attorney, Health Care Directive, Beneficiary Designations, and Trusts—you need for a complete estate plan. Learn how each one protects your assets, avoids probate, and ensures your wishes are honored.
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Estate planning isn’t just for the wealthy—it’s for anyone who wants to protect their legacy. Learn the essential components of a comprehensive estate plan, from wills and trusts to powers of attorney and tax strategies.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Vice President of Portfolio Consulting Gary Quinzel discusses how various parts of the commercial real estate sector have performed over the last couple years, as well as some underlying conditions to explain this performance.
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In the August 2024 edition of “Markets Monthly: Strategies & Perspectives,” members of Wealth Enhancement’s Investment Management team Doug Huber and Gary Quinzel share economic highlights, market updates, and more—including possible reasons for t
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Discover why more retirees are choosing Northern Minnesota over Florida. From strong family ties and top-tier healthcare to outdoor recreation and peaceful living, explore 7 compelling reasons to retire in the Land of 10,000 Lakes.
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In this episode of “Investment Management Foundations,” Ayako Yoshioka, Senior Portfolio Manager at Wealth Enhancement, discusses the rise of artificial intelligence (AI) in the corporate sector and the impact it’s having on investment markets.
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For the period July 1 – July 31, 2024.
Executive Summary
Volatility returned to markets as investors grappled with mixed economic data, political headlines, second-quarter earnings, and central bank policy meetings. Despite the challenges, the totality of data suggests that the U.S. economy is still expanding, as investors eagerly await the Fed’s next move.
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Imagine you’ve just arrived at your doctor’s office. One of the first things you’ll do is answer questions about the prescription drugs and vitamins you take. Why? Your doctor needs to know what medications you’re taking to prevent any unintended consequences from drug interactions. To make the best possible recommendations, your doctor needs all the information.
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Stocks have been particularly strong in 2024 as volatility has been near multiyear lows. That trend has reversed in recent days, following the most recent labor data releases.
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It seems like every time your phone rings these days, it’s someone trying to scam you. Or maybe you’re one of the lucky ones getting flooded with scam texts. Emails from scammers might get caught by your spam filter, but our digital devices seem to be a bit worse at screening phone calls and texts.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Senior Portfolio Manager Ayako Yoshioka details the evolution of computer chips and how they, along with the CHIPS Act of 2022, impact investment markets.
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Cyber scams aren’t anything new, but they are getting worse. According to a report by the Federal Trade Commission, people reported losing $10 billion to scams in 2023, $1 billion more than in 2022.
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Our most recent column focused on the topic of financial wellness and how to achieve it through things like becoming more financially literate, tracking spending, and monitoring your asset allocation policy once a year, among other activities. Today’s article discusses the whole point of achieving financial wellness, which is to become financially independent.
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Buying a house, planning a big vacation, picking your retirement date … Most of us don't take these major financial decisions lightly. We build our lives one financial choice at a time, carefully considering the dollars and cents.
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In this episode of “Investment Management Foundations,” Gary Quinzel, Wealth Enhancement Vice President of Portfolio Consulting, discusses the potential benefits of including municipal bonds in investment portfolios and the features that may make them a worthwhile consideration for investors.
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In this episode of “Investment Management Foundations,” Ayako Yoshioka, Wealth Enhancement Senior Portfolio Manager, breaks down how investment markets fluctuate during presidential election years and how markets respond to Democratic and Republican presidents.
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For the period June 1 – June 30, 2024.
Executive Summary
Positive returns in the Growth and Technology sectors helped cap off another strong quarter for the market, but they have further intensified the high concentration of market leadership. Investors appear content with modest rate cut expectations, while growth and inflation have moderated.
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Written by: Dom DiFurio
Is inflation setting back retirement plans? Wealth Enhancement analyzed data from the EBRI to see how Americans are thinking about retirement. Wealth is complex but managing it doesn’t have to be with this wealth management service.
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Financial wellness goes beyond budgeting—it's about building security and freedom through daily habits. Learn how to improve your financial literacy, manage debt, save for retirement, and align money with your well-being.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Vice President of Portfolio Consulting Gary Quinzel details the Consumer Confidence Survey, a timely index that pulls in various data points, including labor data, inflation, and GDP, to provide a comprehensive view of current economic conditions and how investors feel about them.
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Written by: Ben Popken
With interest rates at record highs and inflation eating away at investment returns, alternative investments have taken on a new luster for the richest of the rich.
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If you’re thinking about partnering with a financial advisor, there’s a lot to consider. Are they a fiduciary (legally obligated to always act in your best interests)? What types of services do they offer? How are they paid? And what kinds of qualifications do they have?
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Half of U.S. adults lack basic financial literacy. Learn how to build lifelong money skills, avoid costly mistakes, and stay financially confident through every life stage.
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In today’s always-on digital world, reading can seem like a quaint pastime. After all, a pithy social post is easier to digest than a full book. However, real learning typically requires a commitment to delve into a topic in some depth. That’s particularly true for anyone seeking to enhance their financial literacy.
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We all want our freedom. Many people in their working years are focused on financial freedom: the freedom to buy the things you desire, the freedom to experience what you want, the freedom to travel wherever and whenever you wish, the freedom to pay for your child’s education, or the freedom to purchase a vacation home. Sounds nice, right?
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In this episode of “Investment Management Foundations,” Gary Quinzel, Wealth Enhancement Vice President of Portfolio Consulting, discusses how you may be able to diversify your portfolio with alternative investments.
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In the June 2024 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group specialists Gary Quinzel and Ayako Yoshioka share economic highlights, market updates, and more.
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In this episode of “Investment Management Foundations,” Ayako Yoshioka, Senior Portfolio Manager at Wealth Enhancement, analyzes and compares S&P 500 performance in 2024 and 20 years earlier in 2004.
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Plan your dream retirement with confidence. This comprehensive guide covers savings strategies, Social Security, healthcare costs, and more to help secure your financial future.
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Is the traditional 60/40 portfolio still effective? Explore how asset allocation strategies are evolving with market volatility, inflation risks, and the need for effective diversification.
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Originally published here by Kiplinger.
Whether it's due to longevity, divorce, or other lifestyle choices, nearly 80% of women will become solely responsible for their finances at some point in time.
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In this episode of “Investment Management Foundations,” Wealth Enhancement’s Vice President of Portfolio Consulting, Gary Quinzel, explains what the yield curve is and what it means when it’s inverted.
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Overreliance, emotional strain, and long-term impacts to your own retirement plans… It can be difficult to prepare your children for the world AND prepare them for financial independence. Unfortunately, we have seen first-hand how our clients’ own plans for retirement can be negatively impacted when children remain financially tethered to their parents for too long.
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In the journey of life, preparing for retirement can seem like a distant priority, especially if you’re a millennial focused on more immediate financial concerns like buying a home, repaying student loans, or saving for your children’s education.
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For the period May 1 – May 31, 2024.
Executive Summary
Equity markets rebounded in May as first-quarter earnings surpassed expectations. Despite strength in the corporate sector, weaker consumer spending and the overall moderating pace of growth suggest that inflation pressures will gradually subside.
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Warren Buffett. A name synonymous with investment in America.Each year, Warren Buffett writes a letter to the shareholders of Berkshire Hathaway Inc., his investment holding company headquartered in Omaha, Nebraska. Up until 2023, Charlie Munger—who Buffett referred to as the "architect" of Berkshire—had also participated in the writing of these letters. Munger died at the ripe age of 99, on November 28, 2023, so now, the mantle has passed to Buffett alone.
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The business of giving financial advice has changed dramatically over the past 30 to 40 years. When Peg and I started, the relationship was mostly transactional: investors came to you to help them pick stocks and manage portfolios. At most firms, the emphasis was on “beating the market” and finding the next “hot stock.” Financial planning was nowhere to be found.
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Financial management is a critical skill for everyone, but it takes on added significance for moms, who often juggle the financial well-being of their family with numerous other responsibilities.
This is particularly true for single and/or working mothers who face unique challenges when it comes to financial planning. While the task can sometimes feel overwhelming, there are many financial planning tips for moms that can help you manage your family’s financial future.
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In this episode of “Investment Management Foundations,” Wealth Enhancement Senior Portfolio Manager Ayako Yoshioka takes a look at persistent inflation and explains how it’s changed year over year.
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If you have children, or plan to have children, the topic of education has probably come up. Do you want to provide for your child's education?
What if they want to go to a private school? What if you want them to go to a private school? And finally, how will you pay for their tuition?
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Learn how federal student grants like Pell, FSEOG, and TEACH can reduce college costs. Understand FAFSA requirements, eligibility, and how to avoid repayment surprises.
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Retirement in FloridaSandy beaches, sunny skies. Blue water that stretches as far as the eye can see. A community of like-minded individuals around you. Welcome to Florida, the Sunshine State.A haven for retirees seeking a vibrant lifestyle, Florida offers more than just great weather. Appealing tax benefits, an abundance of recreational activities, and diverse cultural offerings grace this peninsula, which boasts a little bit of something for everyone.
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When it comes to making better choices about our health, the rules are pretty simple—eat better, move more. It's simple, but it isn't easy.
Many people who find success with their personal health attribute it to establishing a doable routine. They don't abide by stringent rules, deprivation diets, and unsustainable exercise regimens. Instead, they make small changes to their lifestyle habits that add up to improved health over time.
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In the May 2024 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group specialists Ayako Yoshioka and Gary Quinzel share economic highlights, market updates, and more.
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Passed in 2017, the Tax Cuts and Jobs Act (TCJA) made several massive changes to tax laws that were intended to provide millions of Americans with significant tax savings.
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Markets pulled back in April 2024 amid sticky inflation and shifting rate expectations. Explore key economic data, sector performance, and what it means for investors.
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In today’s financial landscape, achieving financial wellness isn’t just about numbers; it’s also about understanding the psychological factors that influence our relationship with money. This matters more than you may imagine. After all, the financial decisions we make are strongly influenced by our beliefs and attitudes towards money. In this article, we look at the psychology of money to explore how your thinking may be impacting your financial wellness.
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With Earth Day approaching (April 22, 2024, for those keeping track at home), we thought it would be a great opportunity to look at some recent trends in the environmental, social, and governance (ESG) investing space.
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Wondering when to take Social Security? Learn how age, income, health, taxes, and marital status impact your benefits—and how to choose the best time to claim.
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Retirement planning involves more than accumulating a nest egg; it requires strategic management of a traditional portfolio to optimize income during your retirement years. To get this right, it’s important to understand how your portfolio may change during retirement, how to optimize income with a strategic approach, and what types of portfolio allocation strategies work best for retirees. Here are some elements to consider:
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In today's world, financial empowerment is a necessity. For women in particular, a deep understanding of financial planning is crucial for crafting a secure future, whether you're just starting your career or nearing retirement.
In Build, Protect, Retire, an upcoming Women & Wealth webinar by Wealth Enhancement Group, you will learn how to navigate the complexities of the three main stages of financial planning.
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With the stretch IRA gone, Charitable Remainder Trusts (CRTs) offer a tax-smart estate planning alternative. Learn how CRTs can benefit your heirs and support your charitable goals.
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Written By: Natalie P. McNeal
Data Work By: Wade Zhou
It's well-documented that the surest, and often best, return on investments comes from playing the long game. But between stocks and real estate, which is the stronger bet?
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For the period March 1 – March 31, 2024.
Executive Summary
Equity markets continue to march higher despite the historic duration of the inverted U.S. Treasury yield curve. Inflation has moderated and stabilized, while growth expectations have modestly improved, indicating that risks between inflation and economic growth are well-balanced.
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Imagine driving a car without a basic understanding of the rules of the road, or even how to operate it. Scary thought.
Here’s another scary thought: Making financial decisions with minimal knowledge about investing, budgeting, and credit. The thing about this scary thought is that it's all too real.
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The U.S. Bureau of Labor Statistics has reported that upwards of 10% of the workforce is employed in an "alternative work arrangement." These alternative arrangements take many forms: independent contractors, freelancers, gig workers, and more.
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In the March 2024 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group specialists Ayako Yoshioka and Gary Quinzel share economic highlights, market updates, and more.
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Retirement planning is full of unique challenges and opportunities, especially for women. Women live longer lives than men, which can bring the risk of outliving their retirement savings. When you also consider career interruptions from having children and wage disparities, the "typical" retirement savings strategies become more complicated. Although the potential difficulties may be formidable, there are time-tested ways to surmount them.
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February 2024 Market Recap: S&P 500 hits record highs as tech leads the rally. Explore insights on AI-driven growth, interest rate trends, and what it means for investors.
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Tax planning is an important element of financial management. The goal is to minimize your tax liability while enhancing the overall efficiency of your financial strategy. It involves a detailed analysis of your financial situation to leverage tax laws and provisions. This process ensures that individuals and businesses can make informed decisions that lead to increased savings and optimal economic outcomes.
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Leap Day only happens once every four years. While you should be focusing on cleaning up your financial life more frequently than that (ideally going over your plan annually with your financial advisor), you can take advantage of this extra day in 2024 to motivate you.
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Female breadwinners: protect your wealth and plan for the future with five key financial questions. From investing wisely to estate planning, discover expert tips for financial empowerment from Wealth Enhancement Group’s Nicole Webb.
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Filing taxes isn’t the highlight of most people’s year. It can feel overwhelming and potentially get quite expensive if you go in without a game plan. That’s why it’s important to prepare for your tax appointment in advance. Just like your financial plan helps keep your personal finances in order, some tax appointment planning can help you get your personal and business documents in order—making it easier to file your 2023 taxes.
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In the February 2024 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group specialists Gary Quinzel and Ayako Yoshioka share economic highlights, market updates, and more.
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By: Wade Zhou
America's economy has exploded since 1989.
Gross domestic product (GDP), which measures all of the goods and services produced in a year, grew from $9.9 trillion to $22.5 trillion from 1989 to 2023 (after accounting for inflation), according to the Bureau of Economic Analysis. This figure represents a massive increase in economic output.
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Chances are you rely on your financial advisor to help with financial planning, retirement planning, and investment management. However, not everyone realizes that a properly qualified financial advisor can help with tax planning, too.
Because financial advisors possess a deep understanding of your overall financial situation, they can tailor tax strategies that align with your specific goals. Financial advisors with tax planning experience can:
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For the period January 1 – January 31, 2024.
Executive Summary
U.S. equity markets hit new all-time highs in January, even as market expectations for interest rate cuts from the Fed were recalibrated. The Fed wants to be confident that inflation is stemmed prior to their first rate cut, so all eyes will focus on economic data, which currently supports their decision.
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Nobody told you how difficult budgeting could be. Balancing your bills, unexpected expenses, and various sources of income can be a cumbersome task, easy to push off or ignore entirely. But moving your budget to the back burner can lead to a vicious cycle of irregular tracking and inconsistent savings, which can put your long-term financial security at risk.
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Understanding the concept of a fiduciary is crucial for anyone planning their retirement, growing their nest egg, or hoping to maximize their post-career income. The term “fiduciary” often surfaces in discussions about financial advisors and investment strategies, but what does it mean for you?
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Retirement planning can feel like navigating a sailboat through the Bermuda Triangle. From shifting inflation rates to unknowable health care costs, it can seem impossible to know exactly what route to take and how much to save. That’s why we created a Retirement Income Calculator to help you estimate what you may need to save to support your lifestyle into retirement.
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If you have a child with a disability, all-consuming decisions revolve around health care, education, and medical and behavioral therapies. But another area of the child’s life requires the same kind of careful planning, and it can be just as complex — a child’s financial future. Many parents think of creating a special needs plan as a way to make sure their legacy of love lives on — a life plan can create clarity and confidence for your child’s years ahead.
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For the period December 1 to December 31, 2023.
Executive Summary
2023 ended on a high note as the interest rate narrative shifted and consensus views broadly turned positive. The new year brings hope of an even more favorable environment for stocks and bonds, but recent history reminds us that consensus opinions can be unreliable.
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2023 has been defined by one term: uncertainty. As we continued to face high inflation and rate hikes, we added a host of new questions, will the regional bank crisis expand, what’s happening with the debt ceiling, and will we have a recession? Despite an overall strong year for investment markets, these questions persisted, and it left many of us unsure of how to deal with the uncertainty.
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In the December 2023 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group Roundtable™ specialists Gary Quinzel and Ayako Yoshioka share the latest strategies and perspectives to help you get the most out of
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By Dom DiFurio
Americans have long understood that their birthplace can significantly affect their futures, and academics have increasingly been able to connect tangible early life factors like where they live and the friendships they've cultivated with potential future income.
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Discover everything you need to know about 529 college savings plans—including types, tax advantages, qualified expenses, contribution limits, and how they impact financial aid. Start planning smarter for your child’s education.
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For the period November 1 to November 30, 2023.
Executive Summary
U.S. equity markets bounced back with historically strong returns in November as yields on longer-dated Treasuries declined. If inflation has been tamed and rate hikes are in the rearview mirror, a recession may be averted—but the era of interest rates anchored near zero may also be behind us.
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Each year, the Social Security Administration (SSA) adjusts the benefits that retirees receive to keep up with inflation. On October 12, 2023, the SSA released its official cost-of-living adjustment (COLA) announcement. Here's what you need to know.
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As the holiday season approaches, many people focus on the joy of receiving gifts and partaking in the festivities. And in the whirlwind of holiday shopping deals and the chaos of Black Friday and Cyber Monday, it's easy to forget the true essence of the holiday season: the spirit of giving.
But there's a day that reminds us of this core value: Charitable Giving Tuesday. This day is not just about giving back. It's a chance to transform lives, including our own.
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The fall season is likely decision time if you’re a full-time employee with benefits. While most people equate open enrollment with health care benefits, this is an excellent time to reassess your overall benefit package in light of your retirement goals and added complexity of your financial situation as you approach retirement. Here are some things you should consider before you make your elections.
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Saving money and planning for retirement are critical financial undertakings for any individual, but as a veteran, you can face unique challenges. Transitioning to civilian life from active service can be a complex process with myriad financial implications that can impact your ability to save for retirement.
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In the November 2023 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group specialists Ayako Yoshioka and Gary Quinzel share economic highlights, market updates, and what strong November returns could mean fo
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Serving in the military is a profound commitment that utterly transforms your lifestyle. Although it comes with its fair share of rewards, military life also brings a unique set of challenges—especially when it comes to finances.
As a Veteran, you've made sacrifices for our country. In return, our government provides a host of benefits and opportunities for you. However, navigating the financial landscape post-service can be daunting.
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One of the best things (maybe the best thing) about having a Roth IRA is your ability to withdraw money from it without having to pay taxes. However, as is the case with most things concerning the IRS, there are some rules you must follow if you want to reap the benefits of such an amazing perk.
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Explore October 2023 market trends, including rising volatility, interest rate impacts, and historical recovery patterns. Learn what recent data may signal for investors ahead.
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For decades, investors have been told that investing in a portfolio of 60% stocks and 40% bonds is a tried-and-true method to diversify and optimize returns. This strategy assumes that most of the returns will come from your equity exposure while fixed income will provide the needed ballast to offset losses in down years for the market. Modern portfolio theory supports this methodology, and since 1945, it has yielded an average return of close to 10%.
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Everyone needs a plan for their long-term care (LTC). 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.
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One of the most important challenges facing today's business owners is how to plan strategically for both the daily demands of running a business and its long-term success.
In times of rapid change, owners must navigate current economic uncertainties while laying the groundwork for a prosperous future–for yourself, your business, and your family.
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As we march deeper into October, we also creep ever closer to the spookiest time of year: Halloween. This is the season where we all come together to celebrate ghosts, goblins, ghouls, and all the other scary things that keep us up at night.
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The stock market continues to defy expectations. Wall Street "experts" predicted that rising rates would cause another down year. Instead, corporate earnings have proven to be resilient, the jobs market is robust, and core inflation, despite volatile gas and food prices, is generally subsiding to normal levels. And stocks have done much better than many imagined.
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed in December 2019, and its “sequel,” the SECURE Act 2.0 was passed a few years later in December 2022. While the list of changes from these two pieces of legislation could warrant a short novel, let’s take some time to dissect a related issue I have been helping next-generation clients with.
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You've been saving up for one year, ten years, or maybe even the majority of your working life. Now, you're at the final stretch: your retirement is just over the horizon. While it may seem like you can relax a bit because the bulk of your career is behind you, you may want to think twice.
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Editor’s Note: The below investment commentary was written prior to the attacks in Israel and therefore does not include comments on the increased geopolitical risk and market impacts. As the situation is changing rapidly, we will provide additional updates in subsequent commentaries.
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Losing a parent is never easy. This guide walks you through the essential financial steps to take after a parent’s death—from securing documents and notifying institutions to understanding wills, trusts, and probate.
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Watching a child graduate from college is one of the proudest moments in many parents’ lives. But before your kids put on those caps and gowns, they need to complete their education—and that can be costly.
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In the September 2023 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group Roundtable™ specialists Ayako Yoshioka and Gary Quinzel detail the latest with investment markets, including why there’s reason to r
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Americans today are living their lives differently than previous generations. According to a Pew Research Center analysis from 2021, more adults than ever before are living single, with a partner, or raising their kids outside of marriage. In general, people are getting married later—or not at all.
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For the period August 1 – August 31, 2023
Executive Summary
U.S. equity markets pulled back in August for the first time since February, ending a streak of five straight monthly gains. While we are not quite out of the woods just yet in terms of avoiding a recession, the soft-landing rhetoric continues to pick up steam.
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Navigating life as a middle-aged adult in recent years feels like juggling fire while walking a tightrope—intense and demanding. The mounting pressures aren't just about looking out for number one; they're about holding up multiple generations. Welcome to the “sandwich generation!” Picture this: you're caught between aging parents who need care and kids who aren't quite ready to fly the nest.
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Everyone is searching for financial independence, but what does that really mean? For some, financial independence means jet setting around the world and buying expensive cars. For others, financial independence is being able to live your life without worrying about running out of money before you run out of breath.
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Vacation homes can be a great place to unwind, enjoy leisure time, and create lasting family memories. They can even serve as a secondary source of income if you rent them out when not in use. But after adding up all these considerations, are they really a good investment?
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When you’re in the diaper-and-bottle phase of parenthood, saving for college tuition probably isn’t a priority. But maybe it should be.
Given the rate at which college tuition is rising, a four-year public college will likely cost close to $200,000 in 18 years. With this high price tag, the earlier parents start saving, the better.
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Executive Summary
As the most aggressive interest rate-hiking cycle in recent history seemingly nears its final stages, economic activity is better than expected, bond markets are providing the opportunity to construct portfolios that generate higher yields, and equity markets are near all-time highs.
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Planning a second marriage? Learn key financial tips for blended families, including asset protection, estate planning, and how to build a strong financial future together.
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Getting married is a significant life transition. Lifestyle, time commitments, and long-term priorities can all shift when you tie the knot. And the same is true for finances—especially how you approach taxes.
There are many tax advantages of marriage. Here are some of the top points our Roundtable™ team speaks to clients about when they decide to get married.
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The details of student loans may at first seem hard to grasp, but fully understanding them and the potential benefits they can offer is invaluable. With federal student loan payments set to resume in October 2023, understanding the four distinct income-driven repayment plans and how they may impact you in the long run can help you make the most prudent decision for both your family and your financial plan.
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You work hard to accumulate wealth, and you want to pass as much of it as possible along to your heirs and beneficiaries. But due to the size of your estate, you're on the hook to pay a hefty sum in estate and gift taxes.
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As the baby boomer population continues to settle into their retirement years, they’re taking most of the right steps in securing their financial future. However, the vast majority are missing an essential piece of the puzzle—they’re not including their adult children in the discussion.
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During times of uncertainty, you may find yourself traveling down unfamiliar roads as you're forced to navigate new paths where one wrong turn could have devastating consequences.
Consider this: The ride you are taking is your financial journey. You will face periods of market volatility and economic upheaval throughout your life. Now, let's continue to view it through our traveling analogy.
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"The map is not the territory."
So said Polish American scholar Alfred Korzybski as a warning to those who conflate representations of reality with reality itself. Just as a map represents a simplified model of the underlying terrain, the stock market is just one indicator of U.S. economic performance. Despite the prominence of the S&P 500, it doesn't necessarily reflect the economy's overall performance, especially around recessions.
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For the period June 1 – June 30, 2023.
Executive Summary
Equity markets ended the second quarter strong, fueled by the resurgence of Mega-Cap Growth stocks. While the Fed may have pushed pause on further rate hikes—for now—tighter financial conditions may still be in store for the second half of the year. A mild recession may still be possible, but certain economic indicators are showing positive signs.
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For most of us, ensuring the financial security and prosperity of our loved ones is extremely important. Gifting stocks to children in a low tax bracket (i.e., college students, graduate students, unemployed, etc.) allows us to share our success. It presents an opportunity for tax-efficient wealth transfer.
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When it comes to end-of-life preparation, taking the initiative is key. After you pass away, your spouse will undoubtedly be overwhelmed with emotions. Even the most mundane tasks, like running errands and staying active, may be challenging for them to keep up with. In this state, managing new financial obligations could feel nearly impossible. However, with some advanced planning, you can give your spouse a solid foundation for assuming control of your finances after you’re gone.
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When two people with different ideas about money and investing get engaged, financial planning can become a delicate issue. For example, if one is a saver and the other is a spender, how you handle money can become a source of conflict.
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Equal pay for men and women has been the law since 1963. Yet, well into the next century, women with similar education, skills, and experience are still paid less than their male counterparts. So, what is the wage gap between men and women?
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Retirement planning is crucial for everyone, but it introduces particular challenges for women. With longer life expectancies, as well as reduced earning potential due to the gender pay gap and other factors, women face a unique set of obstacles in preparing for retirement compared to men.
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In the June 2023 edition of Markets Monthly: Strategies & Perspectives, Wealth Enhancement Group Roundtable™ specialists Gary Quinzel and Ayako Yoshioka detail the latest with investment markets, including why we may not yet be out of
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For the period May 1 – May 31, 2023
Executive Summary
A debt ceiling deal has been reached, and we can breathe a sigh of relief as it appears another negative market catalyst has been averted. Despite slowing economic activity and turmoil in the regional banking sector, most investment markets have seen positive returns thus far in 2023.
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This article was originally published on Friday, May 26th. As of Tuesday, May 30th, a deal has been reached by President Biden and House Speaker Kevin McCarthy, but still requires congressional approval.
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Got a financial windfall? Discover smart ways to use extra cash—from paying off debt and building an emergency fund to investing for the future or even investing in yourself.
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Along with investment market volatility, high inflation has recently been a persistent concern for investors. In March 2023, The Federal Reserve added fuel to that fire by signaling its readiness to ramp up interest rates in response to a string of red-hot economic reports.
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April may have been the most tumultuous month of the year, so far. From tax season, to the ongoing situation in the banking sector, and the ever-present threat of recession, it seemed like each day brought a new set of financial challenges.
That’s why the specialists at Wealth Enhancement Group have gone far and wide to share their financial know-how with you on a variety of national media outlets, including CBS, CNBC, Barron's, Yahoo, and more.
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Treasury Secretary Janet Yellen recently stated that we may hit the debt ceiling as soon as June 1. Although we were warned earlier this year, concerns of a possible default are appearing prominently in financial media headlines as the deadline approaches.
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Explore April 2023’s market trends, including banking sector turmoil, debt ceiling risks, and equity resilience. Get insights on RMDs, interest rates, and economic outlooks.
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Trusts are popular estate planning tools used to transfer assets to beneficiaries while minimizing the effect of estate taxes. Spousal trusts, also known as marital trusts, fall into a subclass of trusts that can help you reduce the size of your estate for tax purposes while providing financial security for your spouse, family, and other beneficiaries.
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Discover essential financial planning strategies for families raising children with special needs. Learn about SSI, DAC benefits, and healthcare options to secure your loved one’s future.
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Financial literacy is foundational to a comfortable financial future. The advisors at Wealth Enhancement Group are devoted to helping you improve your financial literacy, which is why they go far and wide to share their craft with readers like you. This month's collection of media appearances features our advisors in national outlets including USA Today, CoinChapter, and Fortune. Read on to see what our advisors are most excited to talk about.
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What if you could sell off a highly appreciated asset, avoid capital gains taxes and create a steady stream of retirement income for yourself or your loved ones? It may sound too good to be true, but those are just a few benefits of establishing a charitable remainder trust (CRT).
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As investors near and enter retirement, their risk tolerance tends to become more conservative. It’s easy to stay aggressive in the markets when you have an income covering your lifestyle. But once you no longer have that steady income stream to pay for your expenses, it’s time to start spending your savings and investments. This can be a scary thought, leading to the question, "Have I saved enough, or am I going to run out of money?”
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Losing a spouse is never easy. In addition to processing the profound emotional impact, you and your family must address various financial issues. The challenge can be exacerbated when your spouse was the primary income earner or dealt with your finances independently.
The greatest challenge is not to determine the "perfect" next steps to take. Rather, you must figure out how to grieve, process, plan, and grow—all in the context of this life-altering event.
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For investors who have watched their purchasing power and portfolio values decline in recent years, it seems challenging to view inflation, market volatility and downturns through a constructive lens. Yet, it’s fair to say these conditions have provided investors with a masterclass in dealing with uncertainty and rapid change. When COVID-19 shut down the U.S. virtually overnight in March 2020, it changed far more than our financial plans and how we invest.
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Editors note: This article was written with contributions from Thomas Flynn.
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If you’re charitably inclined, you're probably interested in maximizing your contribution to your favorite organizations and tax benefit. A Donor Advised Fund (DAF) can help you get there while giving your charitable giving strategy flexibility.
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When it comes to your finances, few things—if any—are more important than security. Whether it’s your nest egg, your legacy, or simply the funds in your checking account, you want to make sure that it’s protected against anything out of your control.
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In recent years, devastating natural catastrophes fueled by climate change have taken a major toll on infrastructure and our collective psyche. In addition to claiming human lives and causing widespread destruction to land and property, these climate-related disasters are also contributing to rising insurance premiums.
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Tax season can be a stressful time for many Americans. You have so many documents to keep track of and so much time spent analyzing forms, and when it’s all said and done, you may not be sure how much of a refund you’ll get—if any.
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February 2023 Market Recap: Inflation pressures returned, interest rate expectations rose, and equity markets pulled back. Explore key economic data, bond yields, and investment insights.
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Even though we’re well into the new year, perhaps the biggest financial problem from 2022 is still rearing its ugly head: high inflation. To make matters worse, tax experts are warning people to prepare for lower tax refunds this year—or potentially prepare to pay in—as COVID benefits expire and revert to their pre-pandemic levels.
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Everyone is different, so it stands to reason that everyone’s financial goals are different, too. But whether you want to retire early, pay for college for your children (or grandchildren), or buy a vacation home, you need a plan to get there. And while there’s no such thing as a one-size-fits-all financial plan, there are steps that everyone can take as they try to create a plan that’s suited to their individual needs.
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AI has been called a disruptor, a game-changer, and the next frontier in investment management. Every day, analysts use AI models to manage risk, inform credit decisions, and automatically detect fraud. One of the most popular uses of AI is in portfolio modeling, where algorithms use historical data to make predictions about the future performance of various asset classes.
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In the February 2023 edition of Markets Monthly, Gary Quinzel, Wealth Enhancement Group Director of Portfolio Consulting, details what’s happening with investment markets, including why investors should still proceed with caution despite a strong start to the year.
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With tax time fast approaching, you’re likely wrangling W2s, rounding up receipts, and digging into all the documents you collected and filed away over the last year. It can be a lot to keep track of, and since you do it once a year and then only think about it next tax season, you probably need to become an expert. Sure, guided tools or programs make the burden easier to bear, but it's no wonder many Americans hire someone to take it off their plate.
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Discover how to turn your retirement dreams into reality with a strategic financial action plan. Learn to set timelines, optimize account types, and prepare for the unexpected with expert tips from Wealth Enhancement Group.
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For the period January 1 – January 31, 2023.
Executive Summary
The start of 2023 brought a welcome change of scenery, with most asset classes performing strong out of the gate. Indeed, the beleaguered “60/40” portfolio was up 4.5% in January, its fourth-best start to a year since 1976. However, forecasts for the first quarter of 2023 are still tepid at best, as the economic tea leaves continue to point toward a slowdown in the U.S. and globally.
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Learning Through the Uncertainty
The transition from 2022 to 2023 was hallmarked by market volatility and continued uncertainty. Although it may be impossible to predict the future, our Roundtable ™ team of advisors believes that there are always opportunities to learn in any phase of the market cycle.
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Discover how to redefine retirement on your terms. Learn expert tips on timing your transition, optimizing Social Security, planning tax strategies, and prioritizing health for a fulfilling, financially secure retirement.
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It’s been quite the year. With record inflation, a shift over to bear market territory, and the threat of a recession, there was a lot of ground to cover. So, as 2022 comes to a close, we're looking back at the top 10 articles of the year from Wealth Enhancement Group, chosen by our readers.
Browse our Best of 2022 articles below to revisit your personal favorites or discover something you may have missed.
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Explore key updates from SECURE Act 2.0, including changes to RMDs, expanded Roth access, new savings strategies, and other retirement plan enhancements—all in one comprehensive guide.
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When it comes to investing, you have a lot of options. Whether it’s individual securities like stocks or fixed income like bonds, there are a lot of vehicles out there, and knowing where to invest—and when—can be difficult.
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Executive Summary
Even though we’ve turned the calendar to 2023, the challenges from 2022 that included the lingering effects of the pandemic, inflation, higher interest rates, and market volatility are still with us. As we look forward to the new year, we acknowledge that there is always a level of uncertainty within markets, but the uncertainty can bring opportunity and reward investors over the long term.
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When the topic of risk arises, many investors immediately think of market risk. The likelihood of a potential investment loss is a strong consideration in making financial decisions.But other types of risk may be even more impactful to your overall financial well-being. These risks might not be marked by down-ticks in the stock market but natural disasters or personal injury.
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Bonds appear promising as we head into the new year, and the expectation of fully normalized supply chains should also help lower inflation. Our advisors also had some insight on changing jobs, rolling over employer-sponsored retirement funds, and what to look out for to avoid investment scams.
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Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what exactly does that look like for you? Beyond that, how do you plan to get there?
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Executive Summary
This has been an incredibly challenging year for investors. Though uncertainty continues in the near term, 2023 should be more stable as inflation subsides and a terminal interest rate is established. Opportunities are arising for patient investors, especially across the fixed income spectrum.
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Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what does that look like for you? Beyond that, how do you expect to get there?
You need a financial action plan, and no plan is complete without a starting point. After all, you can only plan to reach a destination if you know from where you're starting.
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There are a variety of ways that companies can attract and keep employees. Whether through leave options and other paid time-off perks, extensive health care coverage, or the ability to work remotely, companies have no shortage of benefits to offer to stand out from the crowd when attracting talent.
For highly compensated employees or employees of startups, you may also be offered compensatory benefits like equity compensation.
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The month of October brought us some silver linings amid a tough year for the markets. With Medicare premiums decreasing, along with the biggest hike in Social Security benefits in over 40 years, things may be starting to look up. Additionally, we have some insight on college education ROI, mental health and money, mansion mortgages, and more in these Wealth Enhancement Group media appearances.
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Explore key market insights from October 2022, including inflation trends, Fed rate hikes, equity rallies, and the impact of a strong U.S. dollar on earnings. Learn what it means for investors.
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Learn how the 8.7% Social Security COLA increase impacts your benefits, why it may not reflect real retiree expenses, and how to plan ahead with strategies like HSAs, LTC insurance, and diversified income sources.
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Sorting through dozens of articles on tax-efficient investing can become confusing, complicated, and downright frustrating. We've assembled this list of strategies to provide a broad overview and kickstart your research process without the hassle.
If you want to learn more about any of these topics, we've linked helpful resources in every section to guide you on your journey.
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A lot has been happening in the market – and our trusted advisors have had a lot to say about it lately. From talk about the Federal Reserve and investment strategies to gold and Robo-advisors, below is a collection of Wealth Enhancement Group media appearances over the last half of September.
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Explore key market drivers from September 2022, including Fed rate hikes, inflation trends, and recession risks. Learn how investors can stay focused amid volatility.
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Retirement planning milestones often follow a set age-based timeline due to Social Security, Medicare, and IRS rules—here’s what to expect and when.
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Today’s job market is tight. Many employers are having trouble filling positions because of issues like the “great resignation” and quiet quitting. One way to help overcome these difficulties is by offering desirable benefits. Benefits are crucial in attracting and keeping talented employees, especially health insurance benefits.
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The burning question on so many investors' minds: can we see the light at the end of the tunnel, or will the bear market continue to roar? To provide us with some perspective, we assigned members of our Investment Management team a position and asked them to make the case.
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Many retirees depend on pensions to fund their retirement, and many employers still offer Defined Benefit pension plans. At retirement, Defined Benefit Plan participants typically have the option to receive their pension as a lump sum (single) payment or in the form of annuity payments.
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You're not alone if you're unfamiliar with the net investment income tax (NIIT). While it's been around since 2010, it's not something that impacts everyone. However, if you have annual investment income and are a high-income earner, you could be subject to this tax—making it important that you understand what it is, how it’s calculated, and how you can plan for it.
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Estate planning makes good financial sense, but it's hard to get started if you don't know what you're doing (or why you're doing it). In my practice, I've found inspiration in Simon Sinek's "Start with Why" approach. Framing estate planning discussions with "why" is an effective tactic to simplify the process.
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Perhaps the most challenging question for financial advisors to answer for their clients is, “Have I saved enough to retire?” The problem is, it’s also probably the most common one they hear. And for good reason.
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Whether you're a young individual just starting a career path or a well-seasoned professional nearing retirement, developing a savvy tax strategy today can save you from some painful surprises down the road in retirement.
But becoming tax savvy is easier said than done, mainly because what you see in your account balance is not always what you get. Traditional Roth IRAs, and other tax-deferred accounts, are a great example of this.
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The “traditional” definition of retirement is changing. While there are still large flocks of snowbirds looking to spend their winters soaking up the sun and playing golf in places like Florida and Arizona, there are growing numbers of those who simply aren't content to lounge on the beach.
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The advisors at Wealth Enhancement Group are committed to helping you achieve your financial goals. Regular insights from our Roundtable™ team of specialists can support you no matter where you are on your financial journey.
Here, we present some of the latest local and national media appearances from our team on outlets including CNBC, Barron’s, and more.
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Executive Summary
A better-than-feared earnings season, combined with a market narrative where inflation may have peaked and future interest rate hikes may not be as large, provided some relief to markets. However, with two consecutive quarters of negative GDP growth, questions still linger about the timing of a potential recession. Despite the uncertain backdrop in the near term, we continue to focus on investments over a longer time horizon.
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There’s a lot to like about Roth IRAs. After all, who wouldn’t like the chance to have the money in your account grow tax-free? However, most retirement assets are held in tax-deferred accounts like Traditional IRAs. So, to take advantage of the potential tax-free growth that Roth IRAs offer, you need to get your money into a Roth IRA. And since there are limits to how much you can contribute to a Roth IRA, that can be easier said than done.
That’s where Roth conversions come in.
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Are we in a recession? Financial advisors from across the U.S. weigh in on economic signals, historical comparisons, and how to stay on track with your financial plan.
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At Wealth Enhancement Group, we believe financial knowledge is an essential step to creating financial freedom, so we invite you to stay up to date with the latest financial and investment articles from the specialists at Wealth Enhancement Group for information you need to manage your finances with confidence.
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A lot is happening in the financial world these days. Inflation rages on, investment markets drop into bear territory, and talk of a looming recession is heating up.
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Like most things in the natural world, investment markets are cyclical. Just as seasons change, the investment markets also cycle through periods of rising and declining value.
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There was once a point when women couldn't own property; now, women hold a growing proportion of the global wealth. What's even more interesting is that the different approach they bring to their investments impacts the broader (and still male-dominated) financial industry through impact investing.
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Striving to provide the best financial advice means answering the questions that are most important to you. As part of that, we want to keep you up-to-date on the top 10 questions bringing people to Wealth Enhancement Group so far in 2022. Chances are you have some of the same questions, so read on to find out.
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Studies continue to show that money is a major stressor for many people. When we worry about finances, it can have other ripple effects throughout our lives. It can affect our relationships, and even our work can suffer.
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Bear markets are in the headlines again, as we recently saw the S&P 500 fall once more into bear territory. While we don’t believe this situation is markedly different than the one we found ourselves in a few weeks ago, we do believe it’s worth mentioning what makes this time a little different.
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Whether you own a cabin on a lake, cottage on a beach, or lodge up in the mountains, your vacation home is likely a favorite spot where you made a lot of memories over the years. As you age and find it harder to spend time there, it’s only natural that you’d want to keep this second property in the family and give it to your children.
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Executive Summary
While interest rates have stabilized for now, inflation remains elevated, and uncertainty remains. The global economy continues to slow, while central banks worldwide attempt to rein in inflation. As near-term risks remain elevated, we believe recession risk remains moderate, and investors should refrain from making rash investment timing decisions.
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Inheriting a parent’s home can be emotionally and financially complex. Explore your options—from selling, buying out siblings, to renting for passive income—and learn how to navigate taxes and estate planning with expert guidance.
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Inflation is a key factor affecting your investments and the future success of your financial plan. While inflation has been relatively contained for the past several decades, it has recently spiked to levels not seen since the early 1980s. What does this mean for you?
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At this point, you may have developed an estate plan that includes how your loved ones will eventually inherit your house, the beloved Steinway grand piano, your dad's 88-year-old Swiss watch, or other family heirlooms. We take great care to help ensure every person's assets are distributed as they outline in their will.
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Thinking about switching 401(k) providers? Learn how to evaluate your current plan, compare fees, maintain investment options, and enhance fiduciary support and employee education to ensure your retirement plan meets today’s best practices.
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As inflation and interest rates surge higher, it's been a bumpy road for stocks and bonds alike. The global economy is undoubtedly slowing while the Fed is trying to play catch up to rein in inflation. While near-term risks remain elevated, we believe recession risk remains moderate, and investors should refrain from making rash investment timing decisions.
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The SECURE Act 2.0 raises the RMD age from 72 to 75, giving retirees more time for tax planning. Learn how this change impacts your retirement strategy and what steps to take now.
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When it comes to managing your long-term investment strategy through market volatility, the omnipresent advice of “stay the course” is as comforting as a steel wool blanket. Clients hate hearing it, and honestly most advisors are sick of saying it. Even if the old adage remains mostly true, when “staying the course” is where the conversation ends with your financial advisor–you should probably be looking for a new one.
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A lot goes into being an estate executor. It’s a responsibility that shouldn’t be taken lightly, and that’s why it’s so important to find the right person for the job when you’re putting together your estate plan.
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Explore the benefits of spousal trusts in estate planning. Learn how A Trusts, QTIPs, Bypass Trusts, and SLATs can protect your assets, reduce estate taxes, and secure your family's financial future.
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Editor’s Note: This article was co-authored with Lindsey Weeks, Retirement Plan Service Manager
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As cryptocurrencies grow in adoption—and perhaps more enticing, price—all types of investors are exploring them as a potential alternative to traditional stocks and bonds. While bitcoin (the first and largest type of cryptocurrency) has technically been around since 2009, it’s recently become a tantalizing option for investors looking to jump on a growing trend. But what is it, exactly? How does it work, and is it really a viable investment option?
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For high-income individuals receiving Medicare benefits, your Part B and Part D premiums could include an additional charge known as income-related monthly adjustment amount (IRMAA). Many folks allow the thought of this potential IRMAA to paralyze them from taking any actions that would result in an increase in their taxable income.
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Cyber scams are nothing new—they’re increasing in frequency. Our global community’s mass increase in digital solutions creates an environment that is ripe for bad people to do bad things. Even the U.S.
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Markets experience ups and downs, and while that may be disconcerting as you look at your portfolio, you might be in a situation with a unique tax planning opportunity.
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Still filing your 2021 taxes? Discover last-minute tax deductions, including IRA and HSA contributions, spousal IRAs, and smart strategies to reduce your AGI before April 18, 2022.
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Executive Summary
With the pandemic fading into the background, investors shifted their focus towards inflation, geopolitical conflicts, rising interest rates, and slowing economic growth. With increased uncertainty, market volatility has been elevated throughout the quarter, but we remain cautiously optimistic on our longer-term outlook for the U.S. economy.
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One of the most common ways people invest and save for retirement today is through a vehicle known as an individual retirement account (IRA).
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After months of Federal Reserve Chief Jerome Powell declaring there would be no change in interest rates, the time has finally come for rates to rise. On March 16, the Fed raised interest rates for the first time since 2018.
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Learn how to protect your estate and minimize taxes with smart planning strategies. Explore how life insurance and trusts can help preserve your legacy for loved ones.
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Feeling uneasy about inflation, market swings, or global turmoil? Learn why long-term investors can stay calm, how preparation pays off, and why discipline—not panic—is key to financial resilience.
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Explore how the Russia-Ukraine conflict, inflation fears, and rising rates impacted markets in February 2022. Get insights on equities, bonds, and Fed policy outlook.
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In honor of Women’s History Month, female leaders in financial services share advice, insights, and inspiration on career growth, inclusion, and the future of the industry.
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Out of all the things you try to teach your kids, how to handle money might not be at the top of the list. Maybe you think your kids are too young, that they’ll learn about it in school, or that without a significant source of income, they don’t need to learn good money habits.
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Whether you’re a late starter or a savvy saver, you want to maximize every retirement asset you have. If you’re like most people, that means contributing the maximum amount into retirement accounts like 401(k)s, 403(b)s, and IRAs. And while that’s a swell idea, one thing you may be overlooking is your home.
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This morning, we woke up to the news that Russia has invaded Ukraine, as was widely anticipated in recent weeks. Early reports indicate that the invasion included attacks by land, air and sea, along with cyberattacks. Ukraine and Russia are large exporters of precious and industrial metals, grains and oil & gas. As of early this morning, prices for aluminum, palladium, nickel, wheat, gold and oil are up significantly as a result. U.S.
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It can be uncomfortable for parents to discuss inheritance details with their children. Talking about money in general tends to be difficult for most people, but it can be especially challenging to talk about with your children. Will they understand where the money is coming from? Do they have experience managing money? What sort of effect could a sudden influx of cash have on them?
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Although not as prevalent as they once were, defined benefit plans can still be a significant source of retirement income for some individuals. As such, they should be examined closely in the context of a divorce settlement. This is particularly true if the spouse is still working and accumulating a benefit, payable at a future date.
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Healthcare is bound to be one of your biggest expenses in retirement. As your needs increase with age, so do your costs, and if you’re not prepared, you could be left trying to figure out how to pay for it all.
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Inflation has been getting a lot of publicity recently—and for good reason. While we lucked out and had very minimal inflation over the last several years, low interest rates, rising debt levels, and an unprecedented amount of government stimulus have all combined to reverse that trend. And now, the threat of increased inflation has become a big concern for a lot of people.
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With soaring home values, many sellers expect a sizable profit when listing their property—and it certainly feels great to get a high price for the sale of your home. However, in some cases, the IRS may want a piece of the action.
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Learn how the right financial advisor can add up to 3% in annual net returns through behavioral coaching, tax-smart strategies, and personalized planning.
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Settling a parent’s estate is both emotional and complex. Discover 7 essential insights—from organizing paperwork to managing family dynamics—that can help you navigate the inheritance process with clarity and care.
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Directed trusts are a relatively new concept, enabled through the enactment of various states’ statutes. Not all states have directed trusts, and not all states’ laws on directed trusts are created equal. To understand directed trusts, a review of the history of a trustee’s duties is helpful.
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People often only view estate planning as a way to divvy up their assets after they pass away.
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To say annuities can be confusing is an understatement. There is no universal answer to whether an annuity is a good fit for your financial goals. It’s a personal decision and understanding how the contracts work is important. Whether you have an annuity or might buy one, here are seven questions you’ll want answered.
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As 2021 comes to a close, we’re taking a look back at the top 10 articles of the year from Wealth Enhancement Group, as chosen by our readers. Browse our Best of 2021 articles below to revisit your personal favorites or discover something you may have missed.
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Losing a cherished member of your family is an emotional time, and it’s never easy. Not only is it hard dealing with the personal loss, but sudden medical bills, funeral costs, and other unforeseen expenses can follow it. And don’t forget the dreaded probate process! However, passing your assets to your heirs does not have to be a nightmare if you plan ahead. After all, you worked hard to build your estate, so why not protect it?
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Executive Summary
As we approach the end of 2021 and look toward next year, uncertainty surrounding a new COVID-19 variant, inflation, and expected monetary policy changes are top of mind. Despite these headwinds—and the likelihood that both economic growth and corporate earnings growth will slow in 2022—the U.S. economy is well-positioned for continued growth in 2022 and beyond.
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Retirement is, undeniably, a major transition. Over the coming months, you’ll make the shift from going to work on a daily basis to spending your time with either a part-time job or something outside the workforce altogether.
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If you’re an investor looking to build a well-diversified portfolio, you’re likely familiar with mutual funds. But do you know how they work, and do you know there are two different kinds? Mutual funds can be classified as closed-end or open-end, and while they have some similarities, they also have some major differences. But first, let’s take a moment to revisit what mutual funds even are.
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Ready to retire? Learn how to shift from saving to spending with a retirement plan that aligns with your values, manages risk, and supports long-term goals. Discover key strategies for income, taxes, estate planning, and more.
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If you’re looking to use your time to help those in need or the world around you, you have three options: The first is to earn more money and give more money away. The second is to volunteer your time. The third is to embark on a career change and work for a non-profit.
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Everyone knows they need to plan for retirement. But what exactly does that look like? How do you know you’re taking all the right steps to seek out a safe pathway to retirement?
It’s all too common for people to struggle with planning for their own retirement, but many still hesitate to engage a professional. After all, with so many financial advisors out there, how do you know which one is the right one for your situation? And how do you know now is the right time to reach out?
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Most of us are thrown into the second half of life. Something happens to change our perspective: It might be the death of a loved one, the sale of your business, a job change or loss, a health issue for you or someone close to you, or something else entirely. The event happens, and suddenly we see the world differently.
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The year is winding down, and it will be the new year before we know it—and then tax season arrives. That is still a few months off, but good planning can be done well in advance of tax deadlines and the preparation stage.Reaching out to your tax advisor now, before year-end, allows time for you to address things so there are fewer surprises later (and possibly save some money in the process). Here are seven topics to bring up to your CPA or tax preparer.
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If you’re looking to use your time to help those in need or the world around you, you have three options: The first is to earn more money and give more money away. The second is to volunteer your time. The third is to embark on a career change and work for a non-profit.
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When you have a loved one with a disability or functional needs, planning ahead and creating financial security for them is likely a top priority. How can you offer financial support without negatively affecting any means-tested government benefits they’re receiving or may receive in the future? A special needs trust is one sound solution.
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When it comes to estate planning, there are a lot of tools at your disposal to carry out your wishes after you’re gone.
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The world is filled with challenges that make life difficult for so many people. Climate challenges such as the fires in the west, or hurricanes along the gulf coast. Political challenges such as the turmoil in Afghanistan. Local challenges such as food insecurity, homelessness, and access to quality education. And so many more.
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Open enrollment is more than health insurance—it's a chance to align your benefits with your retirement goals. Learn key strategies for maximizing contributions, reviewing coverage, and updating your estate plan.
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When you’re about to tie the knot, it’s important to get on the same page financially as your significant other.
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Thinking about a Roth IRA conversion? Learn how timing, beneficiaries, and estate planning goals impact whether converting is the right move. Explore key questions to ask before making this tax-smart decision.
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Discover how sustainable and ESG investing can align your portfolio with your values. Learn the benefits, risks, and how to get started with ethical investing.
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Life changes like marriage, having a child, or becoming a caregiver can impact your life insurance needs. Learn when and why to review your policy to ensure your loved ones are fully protected.
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It’s great to have investing goals–they help guide your savings and provide motivation to continue investing throughout the year. Considering how complex investing is today, you are probably asking yourself where to begin when setting investing goals. Plus, it’s easy to make mistakes that could dramatically alter your results.Avoiding these costly investing mistakes can help prevent you from feeling disappointed when reviewing your statements at the end of the year.
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Explore how a Charitable Lead Trust (CLT) can reduce taxes and support your legacy. Learn about CLATs vs. CLUTs, tax benefits, and how to structure your trust.
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Having a solid financial plan isn’t about hitting the hot stock or timing the markets. It’s about organizing your assets in such a way that you have the flexibility to spend your money how you want to in the moment, while also continuing to build up your nest egg for later.
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If you’ve lived in a northern state and you’re approaching retirement, the dream of moving to a sun-kissed state with low or no state income taxes has probably crossed your mind at least once. Or maybe you’re a southerner with dreams of snow-capped hills for a holiday retreat.
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Discover how robo-advisors are transforming personal finance. Learn the pros and cons, who benefits most, and whether digital financial planning is right for your investment goals.
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Avoid common estate planning mistakes that can unintentionally burden your heirs. Learn how to align your legacy with your family’s needs through communication, tax planning, and thoughtful asset distribution.
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If you’re almost ready to retire, you might be thinking you’re in the home stretch. You can see the finish line, and once you get there, the rest of your life will be nothing but playing golf and sipping pina coladas. The rest is in your financial advisor’s hands. After all, they got you to this point. Why wouldn’t they be able to get you through it?
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A trust is a legal contract created when you transfer property to a trustee for the benefit of someone else. The trustee manages the property for the beneficiary in accordance with the terms and instructions in the trust document.
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Executive Summary
Despite renewed fears stemming from the Delta variant of COVID-19, consumer confidence remains high, reflecting optimism surrounding jobs, spending and business conditions.
Even with elevated inflation expectations, interest rates continue to fall as peak growth and earnings concerns percolate.
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Required minimum distributions (RMDs) can be a pain. If you need the income from them to cover retirement expenses, they’re great. But what if you don’t?
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Single, widowed, or divorced? Discover essential estate planning tips tailored for individuals without a spouse—learn how to protect your assets, name beneficiaries, and avoid costly legal pitfalls.
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Unlike the legal or medical industries, job titles in the financial industry are a bit more fluid and ambiguous, with the exception of industry certifications (including a CERTIFIED FINANCIAL PLANNER™, known as a CFP® or a Chartered Financial Analyst, commonly referred to as a CFA).
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Not all wealth managers are created equal. Learn how to spot red flags, avoid hidden fees, and choose a fiduciary advisor who prioritizes your full financial picture—not just your portfolio.
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Learn how to minimize estate taxes and maximize your legacy with smart gifting strategies. Understand gift tax rules, annual exclusions, and IRS filing tips.
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Your financial plan isn’t something you should just set and forget. Your life changes in so many ways as you get older and accumulate wealth, and your financial plan needs to be agile enough to respond to those changes.
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Equal pay for men and women has been the law since 1963. Yet, over half a century later, women are still paid less than men–even with similar education, skills and experience.
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Looking to reduce taxes in retirement? Explore smart IRA strategies like Roth conversions, charitable giving, and HSA rollovers to help lower your tax burden and maximize your savings.
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While most financial advisors recommended staying the course when the news of the COVID-19 pandemic hit last March, many investors opted to sell off stocks and go to the safety of cash. If you’re one of the people who sold in the wake of the pandemic, don’t feel guilty that you may have missed out on some investment gains due to the timing of your decision.
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Many people give donations at year-end to support their favorite charities–and to reap the tax benefits of doing so. But what many generous folks don’t realize is that, with some advance planning, there are efficiencies in charitable giving that can maximize both your gift and your tax deduction.
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Health care figures to be one of the biggest parts of our retirement budgets. Fortunately, Medicare will provide help for millions of seniors to be able to meet these medical bills.
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Fear is one of the most primal feelings in the human experience. When harnessed correctly, internal fear can be an incredibly powerful motivator. However, if fear is not harnessed correctly, or if the fear is too powerful, we can become paralyzed. Paralysis by fear inhibits our mental processes and can often lead to irrational thinking. This is especially problematic when fear creeps into investment decision making.
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Reviewing your insurance policies annually is key to protecting yourself and your loved ones. Learn what to check in life, disability, and long-term care insurance to stay prepared.
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Before tying the knot, couples should talk finances. Explore five key money topics—debt, joint accounts, savings habits, housing plans, and career goals—to build a strong foundation for a healthy financial future together.
Want me to tailor it for newlyweds, financial planners, or a specific tone like playful or formal? I’m on it.
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Discover the four essential components of a successful financial plan for retirement. Learn how aligning your values, planning income, managing taxes, and estate planning can help you achieve your long-term goals.
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Learn why regular portfolio rebalancing is essential for managing risk, maintaining asset allocation, and enhancing long-term returns—even during market volatility.
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Marriage trends in the U.S. aren’t what they used to be. Not only has the divorce rate hovered around 50% for some time now, but people are also getting married later in life than ever before. And that’s just considering people in relationships. What if you’re not in one? What if you don’t want to be in one?
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Though the school year is winding down, there’s still time to complete the Free Application for Federal Student Aid (FAFSA). For the 2020-21 school year, the deadline for filing FAFSA is June 30, 2021 (and you have until September 11, 2021 for any corrections or updates).
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act of December 2019 was designed to help Americans achieve retirement security. This legislation looked to broaden access to tax-advantaged retirement savings accounts and help participants keep money in these accounts longer.
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Between the new tax proposals, Reddit stocks and memecoin, our listeners have a lot of questions. Bruce and Peg have answers.
Full Episode
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Divorcing later in life? Learn the 4 critical financial steps to protect your assets, minimize tax liabilities, and avoid costly mistakes during and after divorce.
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We know that too much personal debt can undermine your financial security. What’s less clear is how the national debt can impact your finances. The total national debt of the U.S. reached $28 trillion as of April 1, 2021–and it’s growing. This equates to over $85,000 for every living person in the U.S.
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It’s never too late to save for retirement. Learn how to catch up with smart strategies like maximizing contributions, adjusting investments, and optimizing Social Security benefits.
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While we often do a good job of protecting our assets, when it comes to protecting ourselves, we may not be doing as much as we could. When we consider insurance to protect ourselves, life insurance tends to be the first thing that comes to mind. Death is a certainty for all of us, so we take the necessary precautions to make sure our loved ones will be taken care of if we suddenly pass.
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The IRS extended the tax filing deadline to May 17. Discover Bruce and Peg’s expert tips on how to use the extra time to reduce stress and maximize your tax return.
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Caregiving is an essential piece of modern American life. It’s estimated that 53 million adults provide unpaid care to a family member. A portion of that number is adults caring for children (5.7%), but most are providing care for other adults.
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The IRS postponed the due date for filing 2020 federal income taxes from April 15, 2021 to May 17, 2021. This move is similar to what happened last year, though the IRS more narrowly defines the taxpayers affected by the COVID-19 emergency, covering those filing 1040 series forms on April 15, 2021 and a limited number of other filings.
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When it comes to saving for retirement, there are plenty of potential pitfalls to avoid. But one that often gets overlooked is failing to plan for inflation, because inflation can be one of the biggest threats to sustaining income throughout your retirement.
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After the market plunge and recovery following the Recession of 2008/2009 and the COVID-19 crisis of 2020, it’s painfully obvious just how volatile and unpredictable investment markets can be.
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Married couples often decide together that one spouse should be the primary breadwinner while the other stays home to take care of family members. Although this often works out well for childrearing or eldercare responsibilities in the short term, it can present long-term retirement-planning risks for the stay-at-home spouse.
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As a business owner, you owe it to your employees to provide the best possible retirement plan. Many business owners understand the weight of this responsibility (and the potential liabilities) but some may not.
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In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence.
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Explore how rising Treasury yields, inflation concerns, and sector rotation shaped markets in February 2021. Learn why Value stocks surged and bonds struggled.
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Is your self-worth tied to your net worth? Explore the benefits and drawbacks of linking personal value to financial success—and why your true worth goes far beyond money.
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If you're thinking about buying a standalone long-term care (LTC) insurance policy, you might have another option. An increasing number of states are permitting the sale of long-term care hybrid products that allow you to obtain LTC coverage with a special rider added on to your life insurance policy.
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Getting married later in life? Bruce and Peg share key financial and emotional considerations for older couples building a future together in a new chapter of love.
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When you die, you leave behind your estate. Your estate consists of your assets–all of your money, real estate, and worldly belongings. Your estate also includes your debts, expenses, and unpaid taxes. After you die, somebody must take charge of your estate and settle your affairs. This person will take your estate through probate, a court-supervised process that winds up your financial affairs after your death.
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By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to participate is just one step in your financial risk management strategy. You also need to manage risk within your account to help it stay on track.
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Successfully running your business isn’t just about making sure everything runs smoothly on a day-to-day basis. You also need to make sure you’re planning for the future–and that includes running your retirement plan investment committee.
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Along with a carefully constructed estate plan, a life insurance policy can be a great way to provide for your family and beneficiaries after you pass away.
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Adding a Roth account to your retirement plan can be a great money-saving strategy. The benefits of setting up a Roth IRA are well documented, but did you know that there are Roth versions of employer-sponsored 401(k), 403(b), and 457 retirement plans?
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When your child first started school, you doled out the change for milk and a snack on a daily basis. But now that your kindergartner has grown up, it's time for you to make sure that your child has enough financial knowledge to manage money at college.
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Does more money really make you happier? Explore new research on income and well-being, and learn why financial success doesn’t always equal life satisfaction.
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Executive Summary
Concerns of asset bubbles have garnered a lot of headlines recently, overshadowing the broader economic fundamentals. However, elevated market valuations suggest caution is warranted.
U.S. and Developed Large Cap stocks stalled in January, while Small Caps and Emerging Markets continued their strong run that began last year.
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Ready to win at retirement? Bruce and Peg use championship-level sports strategies to help you build a game plan for financial success. Learn how to retire like a pro.
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What if you could sell off a highly appreciated asset, avoid capital gains taxes and create a steady stream of retirement income for yourself or your loved ones? It may sound too good to be true, but those are just a few of the benefits of establishing a charitable remainder trust (CRT).
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Confused about Social Security? Bruce and Peg break down when to start taking benefits, how taxes may apply, and what you need to know to make informed retirement decisions.
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The 4th quarter of 2020 spoke to the importance of a diversified portfolio. Bruce and Peg are joined by Chris Haarstick, Director of Investments, to discuss how 2020 concluded and what we can expect in 2021.
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A lot of people have made financial New Year’s resolutions, but without a budget, you aren’t going to keep them. Bruce and Peg offer some tips for setting your budget and sticking to it.
Full Episode
http://info.wealthenhancement.com/hubfs/assets/audio/Your_Money/2021/E-WCCO-01102021-FINAL.mp3
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Feeling overwhelmed by retirement planning? Discover 3 smart strategies—tailored investment choices, Social Security timing, and Roth conversions—to help you save more for retirement while enjoying life today.
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Don’t let retirement myths derail your future. Learn the truth about Medicare, taxes, Social Security, and more—plus common planning mistakes to avoid for a secure, stress-free retirement.
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Going through divorce is almost never easy. Not only is it the dissolution of a potentially decades-long romantic relationship, but it’s also the undoing of a significant legal contract.
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Starting in 2022, new IRS life expectancy tables reduce required minimum distributions (RMDs), helping retirees stretch retirement savings and lower tax burdens. Learn more.
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As a happy holiday coincidence, the giving season comes at the end of the year, when people are also putting a bow on their finances for tax purposes. Now, don’t get us wrong. The purpose of giving is not to get a tax break. If that’s your goal, you’re doing it wrong, and for the wrong reasons.
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President-Elect Biden has proposed significant tax hikes on the wealthy. The Tax Policy Center summarizes the tax increases on high income taxpayers as:
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Retired and no longer receiving a paycheck? Learn how to manage estimated tax payments using retirement account withholdings, avoid penalties, and optimize your tax strategy with smart planning.
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As the end of the year approaches and tax planning becomes a priority (you’re missing out if it isn’t), one common strategy is to realize capital losses to offset realized gains for the year. But for many retirees, one particularly juicy strategy is to do the opposite: realize capital gains to take advantage of their preferential tax rates.
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During your working years, you typically have a good sense of how much you’ll earn each month. This allows you to fairly accurately forecast, based on your budget, how much cash flow you need to pay your bills and, hopefully, have some leftover to save for the future.
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For business owners looking to build the ideal retirement plan for your employees, there can be a lot to consider. But when it comes to retirement plans and investment lineup development, one thing that should be a no-brainer is including a target date series.
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Same-sex couples face unique financial challenges. Explore 7 key questions—from marriage and estate planning to family building and long-term care—that LGBTQ+ partners should discuss to build a secure financial future.
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Discover how remote work is making full-time lake living a reality. Learn why families are relocating to the Brainerd Lakes Area for lifestyle, education, and opportunity.
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Successfully managing your investments is challenging. With so much uncertainty in the markets, it can be easy to simply keep score and fall into the Investment Performance Trap.
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Laid off near retirement? Learn how to evaluate your options, from negotiating severance to assessing Social Security and retirement readiness, so you can make a confident decision.
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Do you ever watch a campaign speech and wonder, “What is driving this person?” Why is a political office so important that candidates put in 16-hour days, seven days a week, for weeks on end to earn your vote?
They have ideas on ways to make things better, sure. The desires for power and prestige certainly play a role as well. But there is something more: the desire to leave a mark – a legacy that will endure beyond their term in office.
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Among the very wealthy, a common question is usually along the lines of, “How do I give my money to my children without harming them?” While no one ever complained about having too much money, the truth is, at a certain point, extra money can have adverse effects on your children and their development.
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Discover how to build an optimal retirement plan investment lineup for your employees. Learn key strategies on fund selection, ESG considerations, active vs. passive investing, and DOL compliance.
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Starting in 2018, the Tax Cuts and Jobs Act effectively allows business owners with pass-through entities (including partnerships, LLCs, S corporations, trusts, estates and sole proprietorships) to claim a deduction of up to 20% of their qualified business income (QBI).
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It’s natural to assume that superior investment performance results from superior manager skill, and below average investment performance reflects subpar manager skill. Using only investment performance to measure a money manager’s ability has some advantages: it’s easy, it’s widely accepted, and it feels good.
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Discover how auto-enrollment in company retirement plans boosts employee participation, simplifies plan management, and offers tax benefits for small businesses under the SECURE Act.
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Avoid costly tax mistakes in retirement. Learn how to manage tax diversification, required minimum distributions (RMDs), and income strategies to maximize your savings and minimize tax burdens.
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Editor’s Note: This article was co-authored with D.L. Thomas.No one thought 2020 would be like this: a global health crisis, an economic contraction and millions of Americans out of work. The rest of us, now bound to our homes, are unable to live our lives as we normally would, while essential workers are risking their lives to keep us all safe. Then, before we get to the light at the end of the tunnel, civil unrest swept across our nation.
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By now, you’ve likely heard the idea of the “left brain versus right brain”–the notion that one half of our brain focuses on facts and logic, while the other half houses emotions and imagination. At this point, it’s probably become a cliché. But there is truth to this idea, and the constant tug of war between emotions and logic forms the basis of every decision we make–including our financial decisions.
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Most people discover they have bad credit at the worst possible time. They’ve filled out all the paperwork for a home mortgage or rental application, only to discover their credit score isn’t up to snuff. By then, it’s too late.
A little planning now can help ensure your credit is in the best possible place when you need it most. Here are some steps you should take to get your credit in order.
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Have you been trying to “get ahead?” It can be difficult not to. But there are a couple problems with getting ahead:
Against whom do you measure “getting ahead,” and is it possible to get ahead without someone else getting behind?
How far ahead do you need to get, and when will you know you’re there?
Maybe instead of getting ahead, we should simply focus on having enough. How might that change the way we behave, treat other people or see the world?
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Weighing the decision of whether or not to sell the family home and downsize in retirement is a reality for many people. This involves a series of considerations–including where you’ll live next and how much to spend.
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You worked hard. You’ve been saving for most of your adult life. Now, you’re getting closer and closer to that ultimate goal: retirement.
If you don’t have a financial plan in place yet, now is the time to get started. And the easiest way to do that is by partnering with a financial advisor. But with so many options out there, it can be difficult to choose which one is right for you. After all, this is the person with whom you’re trusting your financial future.
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Retiring before your spouse? Learn how to navigate the financial, personal, and relationship challenges with smart planning and open communication.
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Editor’s Note: The below information is current as of August 31 and does not reflect the tech selloff and ensuing volatility that occurred in early September.
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What happens if your child doesn’t go to college after years of saving in a 529 plan? Discover smart, tax-efficient ways to repurpose unused 529 funds—from vocational training and student loan repayment to transferring beneficiaries or using it yourself.
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Editor’s note: This article was written in partnership with Heidi Geller.
Living with your significant other can be wonderful. It represents a major commitment to each other and could also offer sizeable financial benefits, as you no longer need to pay for two separate living spaces. Additionally, when you live together, you build a home together.
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It’s never easy to talk about money. It’s even harder to talk about what happens to your money when you are gone. For that reason, it is one of the most overlooked aspects of financial planning, even though it is one of the most important. If you haven’t planned your estate, it’s time to start.
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Working remotely due to COVID-19? Learn how remote work can impact your taxes, from state income tax and dual residency to home office deductions and changing your domicile.
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Family and financial discussions don’t always mix. Many adult children only find out the extent of their parents’ estate after they have passed. Unfortunately, this leaves no opportunity for planning.
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Many life insurance products could be classified as “unitaskers”–meaning they essentially have a single purpose.
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With the economy in recession, we are sometimes asked whether it makes sense to take an early 401(k) withdrawal. The answer is “no.”Thank you for reading this week’s column.Okay, we’ll elaborate. When it comes to taking an early 401(k) withdrawal, meaning withdrawing funds before the age of 59 ½ and incurring a 10% penalty on top of applicable taxes, there are bad reasons to do it, and worse reasons.
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For anyone with a 401(k) plan from a previous employer, there will come a time prior to retirement when you’ll have to decide what to do with it. Typically, that means choosing between four options:
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Learn how an 83(b) election can reduce your tax burden on company stock options. Discover the benefits, risks, and whether this strategy fits your financial plan.
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You spent years–even decades–contributing to your company’s 401(k) retirement plan. Now, it’s time to withdraw those funds so you can use them. Typically, money taken from your employer’s retirement plan is transferred directly into a rollover IRA to avoid being immediately taxed. Sure, when the time comes, it’ll be taxed as ordinary income, but that can be tomorrow’s problem.
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Explore how Joe Biden’s 2020 tax plan proposed raising taxes on high earners and corporations. Learn what changes were suggested for income, capital gains, estate taxes, and Social Security contributions.
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Over the past few months, the stock market has swooned and soared, with the S&;P currently about 5% below its February highs. When we look ahead, we wonder if the worst is behind us or yet to come.It has been said, “Never let a crisis go to waste.” With that in mind, here are four wealth management opportunities during COVID-19.
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Executive Summary
U.S. credit’s outlook was downgraded from stable to negative by a major ratings analyst. Is it time to worry about our burgeoning debt crisis?
Is the economic recovery reversing course? Real-time data and weekly jobless claims are showing signs of stalling.
Equities continue to climb the wall of worries, but most of the returns are linked to Big Tech while the rest of the market lags.
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Times are tough. Many people are struggling as individuals, families, and communities. We are, individually and collectively, in the middle of a national crisis, and it’s easy to get discouraged with the abundance of sobering news.
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The income you are relying on now will not, by definition, be available to you when you retire. Unfortunately, your bills keep coming. You don’t get to retire those. We don’t think that’s fair, either.
Unless you are one of the lucky few that has paid off your mortgage, you are probably looking at continuing to make mortgage payments into retirement. It’s the gorilla in the room. How do you continue to pay something you budgeted for with the money you are making now?
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Estate planning can be difficult. No one likes staring down their own mortality, but thinking about how you want to pass on your legacy after you’re gone is a necessary part of financial planning.
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Discover how Roth IRA conversions can reduce your retirement tax burden—if done wisely. Learn how Roth conversions are taxed, the best ways to pay those taxes, and strategies to maximize long-term growth while avoiding costly mistakes.
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Companies and their employees have already been trending toward relocating from big cities with high rents and other issues. With the current housing and employment market, many have even greater motivation to relocate.
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Long-term care (LTC) has been in the news lately, for all the wrong reasons. But it has gotten a lot of people thinking about what their plans are, what kind of experience they want, and how they are going to pay for it.
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Discover 10 powerful habits of successful business owners—from goal setting and delegation to self-care and gratitude. Learn how to work smarter, find balance, and lead with purpose.
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The LGBTQ+ community has seen significant gains over the last few years, particularly with marriage equality and workplace discrimination cases decided favorably by the Supreme Court. Yet, the community has less financial security than the general population.
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Laid off before retirement? Learn how to protect your finances, rethink your career path, and adjust your retirement plan to stay on track—even in uncertain times.
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According to a recent AICPA study, the number one concern for their clients with respect to retirement planning is running out of money. In fact, 30% of their clients listed it as their top concern.
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Planning for retirement? Learn how sequence of returns risk can impact your portfolio and discover smart strategies—like income preservation buckets and annuities—to protect your retirement income.
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When the Coronavirus Aid, Relief and Economic Security (CARES) Act was passed, it provided relief from unwanted required minimum distributions (RMDs), and the accompanying tax burden, for many Americans by waiving some RMD requirements for 2020. This provided immediate tax relief and allowed some investors to keep their money invested.
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Expecting a grandchild? Learn how to financially prepare for your growing family—from setting boundaries and starting college funds to updating your will and planning for caregiving roles.
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This has been a year of contradictions. The second quarter saw one of the strongest equity rallies of the past half century against the backdrop of U.S. GDP declines rivaling the worst of the Great Depression.
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When considering the unfortunate reality that about 50% of marriages end in divorce, many people who are at or nearing retirement find themselves in the position of figuring out the Social Security benefits they are entitled to as a
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We’ve all likely experienced a life event that serves as a milestone and triggers family conversations around our values–moments like a marriage, birth, or death in the family. These moments have probably come even more frequently after the events in 2020 sent our lives into uncharted territory: impeachment proceedings, COVID-19 and the subsequent economic and social ramifications, and national protests around social justice issues.
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The Second Quarter of 2020 was marked by a glaring contradiction, one of the strongest equity rallies in the last fifty years against likely the greatest decline in GDP in the U.S. (and globally) since the depths of the Great Depression of the 1930s. As we have noted before, economic data and markets don’t necessarily move together; economic data tends to be backward-looking while markets are forward-looking.
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It has been almost four months since many of us started sheltering at home. It has been five weeks since George Floyd tragically died. It seems like a lifetime ago when things were “normal.” The impeachment hearing was irritating, but we all knew the outcome. The economy was humming with unemployment at record lows. The stock market was soaring, hitting an all-time high in February.
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In order to receive the services you need, rather than a one-size-fits all solution, it’s important to be honest and upfront about your situation. This is especially true when it comes to financial matters, whether you're talking with a lawyer, insurance agent or financial advisor. In order for financial planning to work to its maximum effect, you can’t section off your life; you have to consider your entire life. What are your goals, dreams and aspirations?
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Post-COVID, plan sponsors must reassess fiduciary duties, monitor investments, revise plans & boost participant communication.
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We just saw the largest stimulus package in U.S. history with the $2 trillion CARES Act. Now, another massive stimulus bill has been passed in the House of Representatives and now waits for review from the Republican-led Senate.
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Struggling with overwhelming emotions? Learn how acknowledging your feelings can lead to better decisions—especially financial ones. Discover the power of Behavioral Wealth Management and how to use your emotional insight to navigate tough times.
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Many people look to election results (and the presumed policy changes coming from the winner) as an indication of how the markets will perform, as well as the subsequent impact on their financial plan. This is especially true in presidential election years–but what role do elections actually play in regards to market performance?
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Recession is here—are your investments ready? Learn how to protect and grow your retirement portfolio during economic downturns with smart strategies like asset diversification, tax planning, and recession-resilient investing.
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Restricted Stock Units (RSUs) are a valuable part of many compensation packages. Learn how RSUs work, how they’re taxed, and how to make smart decisions once your shares vest.
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After decades of paying payroll taxes, many people believe that their Social Security benefits are tax-exempt, but this simply isn't the case for a lot of retirees. In fact, the Social Security Administration estimates that 52% of beneficiaries paid income tax on their benefits in 2015 and 56% of all beneficiary families will owe income tax on their benefits from 2015—2050.
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From Gen-Z to Baby Boomers, each generation faces unique financial pitfalls. Learn the most common money mistakes by age group—and how to avoid them.
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The idea of planning for after you’re gone is daunting, but proper estate planning is vital for anyone who wishes to protect their assets and loved ones. It could be even more critical for same-sex couples and LGBTQ families, even after the 2015 Obergefell v. Hodges Supreme Court decision.
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May 29 (aka 5/29) is National 529 College Savings Plan Day, shining a spotlight on an account that allows families to save after-tax dollars, have them grow tax-free and then use the money
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Am I ready to venture out?
Many of us have been home for more than 60 days. Most states are relaxing their stay-at-home guidelines, yet national health experts continue to warn us to be careful and keep our distance. The prospect of a second COVID-19 wave looms large.
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Learn how non-qualified stock options (NSOs) work, including tax implications, key terms, and strategies to maximize your gains while minimizing tax liability.
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Whether you retired on New Year’s Day or are retiring next week, the first summer as a retiree is an exciting time. Your days of sitting at work, daydreaming about spending the afternoon in the sun and the warm weather are through. But this first summer of retirement isn’t always as perfect as it might sound.
To help you navigate the first dog days away from work, we put together this short list of things to do to get your retirement started on the right foot.
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Fallen behind on your retirement planning? Learn three smart steps to regain control—organize your documents, revisit your budget, and rebalance your portfolio to stay on track for your goals.
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Explore how your beliefs about money—formed in childhood and passed down through generations—shape your financial behavior. Learn how understanding your money messages can transform your financial well-being.
Money is incredibly emotional.
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Imagine yourself 10 times wealthier than you are now. Are you living the good life on a beach, maybe the golf course or with friends and family? Now consider how you made enough money to achieve this life, and outside of an inheritance, its likely one of three possibilities:
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For retirees, one of the biggest transitions is living without a steady paycheck. For decades, you had a paycheck to help increase your wealth and finance current and future expenses. But without that steady income, managing your budget can be a challenge.
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Explore smart financial strategies during a downturn—from Roth conversions and tax deadline relief to portfolio rebalancing and refinancing opportunities. Find the silver linings in uncertain times.
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I want to begin on a personal note. Recent months have seen us enter uncharted waters, personally and financially. While the nature of print publishing does not afford me the opportunity to speak directly to issues as they develop, I firmly believe that sound financial principles and taking a long-term view of your investments is the best route to meeting your financial goals.
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When talking about retirement income, we often describe it as coming from three buckets. One bucket is any pensions you may be entitled to. Historically, these have been a critical part of retirement for many workers, but they are becoming less and less common. This means that the other two buckets will become more important over time.
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Now that the candidates are close to set, election season is in full swing. Even more than usual, we’re fielding a lot of calls from clients concerned about what the impact will be on their finances.
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The Tug-of-War Between the Bulls and the Bears Continues
Editor's Note: The following section was written on April 30, 2020.
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Long-term care can be costly and emotionally taxing. Learn how to plan ahead with LTC insurance, understand care options, and protect your retirement savings.
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Do you struggle with a persistent problem that keeps cropping up over and over again?
I struggle with being over-scheduled. I have days where I am booked from the moment I arrive at my office to the moment I leave for home in the evening. Inevitably, something arises during the day that demands my attention, and I am scrambling to fit it in. At the end of the day, I am exhausted and irritable, and I feel like my life is out of control.
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As the economic situation continues to change due to COVID-19 relief efforts, so do tax filing deadlines. The IRS and many states are still postponing 2019 tax filing and tax payment due dates for individuals and businesses, and they also continue to push back 2020 estimated tax payment deadlines.
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While some people dream of an early retirement at age 60, and others are determined to work well into their 70s, the fact of the matter is that turning 65 is a watershed moment for most Americans. Regardless of when you retire, age 65 is the year when you are first eligible for Medicare. You’re also approaching what the government considers to be your “full retirement age,” that is, the age when you’re eligible to receive your full Social Security benefits.
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Learn how the CARES Act recovery rebate works, who qualifies, how much you could receive, and how to maximize your payment based on your AGI and tax filing status.
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The CARES Act provides almost $350 billion of assistance to small businesses with fewer than 500 employees to manage cash flow and retain employees through these difficult times.
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As the COVID-19 pandemic continues to work its way through the country and the world, more and more states are issuing stay-at-home orders to help curb the spread of this disease. By practicing social distancing–staying home whenever possible, limiting gatherings of large groups of people, staying six feet away from others, etc.–we can limit the spread of the disease through human-to-human contact. But there can be unintended consequences when we limit human connection.
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As we are social distancing, a term that seems destined to be Merriam-Webster’s word of the year, it is easy to get swept up by gloomy economic headlines. It is a natural impulse, akin to rubbernecking on the highway. Just as rubbernecking grinds traffic to a halt, excessive worry causes us to miss the big picture.
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In response to rapidly changing circumstances caused by the COVID-19 pandemic, the U.S. government has passed significant legislation in the past two weeks, culminating with the CARES Act this week.
Our Roundtable™ team of specialists has summarized the main points below and will continue to dissect all this legislation and provide continued analysis on our blog.
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Single and planning for retirement? Learn how to maximize your Social Security benefits—whether you're never married, divorced, or widowed—with smart claiming strategies.
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Maximize your Social Security benefits with smart claiming strategies. Learn when to file, how working affects benefits, tax planning tips, and key rules for married, divorced, and widowed individuals.
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What do NCAA brackets and investing have in common? Learn how to avoid common financial missteps by understanding the difference between bad luck and bad choices.
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What do NCAA brackets and stock picking have in common? Discover why investing isn’t about luck, and how a sound financial plan beats guesswork every time.
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Life happens. The reality is you may not always be there for your loved ones, but you can always take care of them. One of the best ways to do that financially is with life insurance.
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Stop us if you’ve heard this one. As financial advisors, we always recommend you max out your 401(k) or 403(b) contributions.
Oh, you have heard that one.
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I may no longer be a tax expert
Expertise is gained through mastery of the domain: a thorough understanding of the existing tax regulations and the ongoing battle to stay abreast of the new law changes as they occur. The recent changes to the tax code have levelled the playing field for tax preparers as old rules fade away and new rules rule the roost.
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Passage of the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) represents the most significant retirement tax reform in decades. In addition to the changes that impact individuals, the SECURE Act also includes changes designed to increase the availability and attractiveness of retirement plans.
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Flying solo into retirement? Discover key financial strategies for single individuals, from emergency savings and Social Security planning to long-term care and retirement account tips. Learn how to secure your future—on your own terms.
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Divorcing or divorced? Learn how the SECURE Act affects retirement accounts, inherited IRAs, trusts, annuities, and IRA contributions—plus key tax planning tips for protecting your financial future.
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Financial planning is like football—strategy matters. Learn how to build a winning financial game plan with smart investing, backup plans, and expert guidance.
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The glow of the holiday season may be wearing off, but now is a great time to check things off your financial to-do list and get your money matters back on track.
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As we close 2019, many investors in a diversified portfolio find themselves with an account balance significantly above the close of 2018, especially with no withdrawals. But can we leave our portfolios on automatic pilot?
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When it comes to your child’s education, you feel like you’re on the ball. You’ve budgeted for the local university, and set aside some money in a 529. Your kids are stellar students, so the scholarships are sure to roll in. Given the cost of food, extracurriculars, and gas money, you might even come out ahead!
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Social Security is a program that is a critical source of income for many retirees–in fact, 65% of all beneficiaries receive at least 50% of their income from Social Security.
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The SECURE Act is the largest retirement-focused legislative reform in decades. ; Its provisions impact individual investors and the retirement plans they may have access to through employers. These changes were intended to improve access to and attractiveness of retirement plans to help address Americans’ growing concerns with their ability to save for their own retirement.
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This is the time of year when people think a lot about their physical health. Maybe you have fitness goals for this year, or maybe you need to repent of all those cookies we encouraged you to eat back in December.
You probably don’t need to be reminded of all the great reasons to stay in shape, but did you know that being healthy can improve your finances? Being healthy allows you to work longer and save more. If you have an HSA, your health can even be an investment vehicle.
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At least once a year you’ve been meeting with your financial advisor to make sure you’re on track for retirement. But this year it’s different. This is the year you’re planning to retire, and your idea of retirement might not line up with the reality. That’s why your annual meeting may be more important now than ever.
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Our Investment Management team bases their outlook on 7 key market movers. This video, presented by Director of Investments Chris Haarstick, explores the team's perspectives on global economic growth, interest rates, inflation and more.
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Well, it’s mid-January, which means many of you are hitting the gym in keeping with your New Year’s Resolution for at least a couple more weeks. But this is also a good time to get your finances in shape. You are one year closer to (or further into) retirement, there’s a lot of international market volatility, and you are bound to have some lifestyle changes in the coming year.
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The new year symbolizes a clean slate. People often take the opportunity to create elaborate, and usually difficult-to-stick-with, New Year’s resolutions. As a business owner, I decided to come up with a list of simple resolutions to help fellow business owners prepare for a happy and successful year ahead. See if you can incorporate one – or all – of these easy and painless objectives:
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Is the finish line in sight? Are you imagining trading work for a little “me time”? Maybe a tropical oasis is calling your name. If so, congratulations. We hope you enjoy your upcoming retirement.
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Creating a financial game plan for the new year is going to be unique to you, depending on your individual circumstances. But, if your New Year’s resolutions include getting your financial life back on track, you can use these goals as a starting point.
Set a Personal Savings Goal
Don’t just pick an arbitrary number. Look at your total income and expenses to determine a realistic goal for how much you can set aside each month.
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Planning to retire soon? Discover three essential steps to take in the final years before retirement—from envisioning your lifestyle to estimating expenses and optimizing Social Security benefits.
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With the 2017 Republican tax bill signed into law and the delayed effective dates passing by, many individuals and businesses are curious about the impact it will have on health insurance and other benefit programs.
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Historically, charitable planning has involved strategies like a charitable remainder trust or perhaps the establishment of a private foundation.
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Many people enjoy a good horror movie. They sit on the edge of their seat or hide behind a blanket in anticipation of what will happen next. But when it comes to your retirement, the thrills and chills are much less entertaining.
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Compensation is the most important benefit an executive can receive. It’s tempting to focus exclusively on compensation. “Money talks” after all, and executives will often depart your firm in search of a higher paycheck. But executives also expect a robust medical and retirement savings plan. If your firm is skimping on those benefit pillars, you won’t attract talent, and the talent you do have won’t stay very long.
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Considering pension maximization? Learn how this strategy works, when it makes sense, and why it may not be the best fit for everyone. Explore key factors like life insurance costs, survivor benefits, and long-term retirement planning.
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Maximize your non-qualified stock options (NSOs) with smart strategies. Learn how to avoid common mistakes, manage taxes, and reduce risk while aligning your stock plan with your overall financial goals.
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Whether you're new to employee stock options or trying to understand the nuance between the various types, we hope this glossary and basic explainer help you better understand your options (pun intended).
Exercise
The process of acquiring shares via stock options.
Expiration Date
The date your stock options expire. You must exercise your options by acquiring shares before this date.
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Americans contribute a significant portion of their lifetime earnings to Social Security in exchange for an inflation protected income stream during retirement.
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When you hit your 50s and 60s, retirement is no longer on the far horizon. Now it’s looming large, and you’re likely feeling the pressure to get your financial ducks in a row. Consider these tips to make the transition easier—and to lay the groundwork for a more comfortable retirement.
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Should you pay off your mortgage before retirement? Explore key factors like interest rates, tax deductions, and financial flexibility to make the best decision for your future.
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We all want our freedom. Many people in their working years are focused on financial freedom: the freedom to buy the things or experiences they desire, the freedom to travel in the style they have become accustom to, the freedom to pay for their child’s college education, or the freedom to purchase a vacation home.
The assumption is that freedom and money rise and fall together; more money means greater freedom, while less money means less freedom.
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Discover the hidden tax ripple effects of large capital gains, including the Net Investment Income Tax and increased Medicare premiums. Learn how to prepare and protect your financial plan from unexpected costs.
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Found your pot of gold? Learn how to make the most of a financial windfall—whether it’s a bonus, inheritance, or lottery win. Discover smart strategies for investing, minimizing taxes, and planning with a financial advisor.
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Discover how pending legislation in New Jersey could change retirement savings for teachers and nonprofit workers by allowing pre-tax contributions to 403(b), 457 plans, and potentially HSAs—bringing state tax rules in line with federal standards.
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In the retirement red zone? Learn how to maximize benefits, build a smart income plan, and avoid costly mistakes in your final working years. Bruce and Peg share winning strategies inspired by football’s best.
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Meeting with a financial advisor, or a new financial advisor, is the first step in creating a relationship with the person you may choose to put your financial future in the hands of. It’s a huge responsibility that your future advisor should not take lightly, and neither should you. ;
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Roth conversions are as historically cheaper for many individuals and opportunistically beneficial as they have ever been thanks to the 2017 Tax Cuts and Jobs Act. The tax changes lowered tax rates, increased the standard deduction, and, most importantly, expanded tax brackets.
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Whether it’s because you are retiring, were laid off or are making a career change, leaving a job likely means figuring out what to do with your old 401k. You have a few options.
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Halloween is just around the corner. People of all ages will be dressed up as ghosts, ghouls and gremlins, but what about the spookier aspects of your finances? It’s important to take a look at what sinister behaviors are playing a role in your financial life.
We’ve laid out our four step process to exorcise your financial demons for good.
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Laid off at 60? Learn smart financial and career strategies to navigate job loss near retirement. Explore budgeting tips, new career paths, and retirement planning advice.
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Frequent readers of this column and listeners to our radio program have heard us talk extensively about having “three buckets of money.” We typically reference those buckets as a means of diversifying your savings based on time horizon (short-term, mid-term and long-term), but they can also be used discuss how your assets may be taxed (tax-advantaged, tax-d
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As road construction ramps up, so can financial detours on your path to retirement. Learn how to avoid common roadblocks like taxes, inflation, and opportunity cost with smart planning and guidance from a financial advisor.
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It’s a common goal for people to want to pay off their mortgage in an accelerated manner. This goal is usually based around two underlying rationales.
First, people want to save money by reducing the amount they’re paying in interest. If you have a $200,000, 15-year mortgage with a 5% interest rate, you’ll pay more than $80,000 in interest payments. By paying off the mortgage as quickly as possible, there is a quantifiable financial benefit you’ll earn.
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Are you a financial hoarder? That may sound like a strange question to ask. After all, it’s a good thing to be a diligent saver, right?
While it’s good to be a saver, it’s also true that a healthy saving mentality can transform into more of a hoarding mentality if taken too far. Having this sort of mindset can weigh on you, both financially as well as emotionally.
Here are three characteristics that financial hoarders tend to possess.
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Learn how to gift money to your children for Roth IRA contributions without triggering gift taxes. Discover IRS rules, contribution limits, and smart strategies.
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We’re big believers in long-term care insurance (we both own policies), but the premiums can be quite expensive. One relatively recent innovation in the insurance realm is the option of converting a portion of the cash value on a life insurance policy into a long-term care policy.
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Smart financial planning is a crucial element when preparing for retirement, but that’s just one half of the equation. Effective portfolio management is an equally critical component.
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“You have to spend money to make money.”
Yes, this statement has become a bit of a cliché, but it’s also accurate when it comes to investing fees.
Unfortunately, one of the biggest issues with these fees is that there can often be a lack of transparency when it comes to how much you’re being charged. It’s critical for investors to understand what they’re getting from these surcharges. Here are two key questions you should ask.
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Wondering if a 4% return is enough for retirement? Learn how investment performance and smart withdrawal strategies impact your retirement income plan.
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When thinking of the hierarchy of estate planning documents, the two that are likely to be on top are wills and trusts. A will is a more basic document that outlines who will receive your assets when you die and may name guardians if you have young children.
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Everyone has their own unique take on financial goals and values. We asked the Roundtable to share their own personal financial mottos that they like to share with their clients.
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In a strengthening job market, your best employees are in increasingly greater demand, and companies are offering more than just a higher salary to attract the cream of the crop. This makes it critical to take immediate steps to help ensure those employees you rely upon will be with your business for the long haul. Providing benefits in the following five areas can help boost the chances of attracting and retaining key employees.
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Many plan to retire after 65—but life often has other plans. Discover the top reasons people retire earlier than expected and why having a backup retirement strategy is essential.
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When it comes to financial planning in a relationship, we rarely see partners who divide money management equally between the two of them. Instead, what tends to occur is that one partner pays the bills and balances the budget while the other focuses on managing the investments.
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Learn how to gift assets to loved ones tax-efficiently. Explore annual gift limits, tax-free strategies for education and medical expenses, and smart ways to avoid gift taxes.
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Is saving 10% of your income enough for retirement? Learn why experts now recommend saving 15–25%, how to start early, live below your means, and build long-term financial security.
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“When claiming my pension benefits, should I claim a spousal benefit, or should I take the single-life option and purchase a life insurance policy to protect my spouse if I die first?”
It’s a question we’ve heard a lot over the years, and it’s a question one of our listeners posed on the radio several weeks ago. It’s such a great question that we wanted to cover it in our column this week.
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Learn how to align your investment risk with your goals and time horizon. Discover strategies to calculate your needed rate of return and build a balanced portfolio.
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Perhaps the most confusing element in a financial plan is the estate plan. From the complex legal documents to the challenges of maximizing the legacy left to your heirs, it can be hard for many people to fully wrap their heads around what’s needed in their estate plan.
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Congratulations! You’ve just started your career, and you’re learning how to manage your finances. Take control by keeping in mind these important factors:
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Worried about rising college costs? Learn how higher education still pays off with increased lifetime earnings, financial independence, and smart savings strategies like 529 plans. Discover the long-term financial benefits of degrees and alternatives like trade schools.
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There are few things that can offer greater personal satisfaction than achieving a goal you’ve been working hard to reach. The problem is that it can be easy to lose focus, causing your goals to fall by the wayside.
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When choosing which types of investments to use, you’ll almost certainly be faced with the question of choosing between active and passive management. Active management seeks to outperform the market by finding inefficiencies in the market. Passive management strives to replicate a certain relevant benchmark. Instead of looking to beat the market, passive management looks to replicate the market while keeping costs down.
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When it comes to debt, the mantra from some in the financial services industry is “all debt is bad.”
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I have always loved piggy banks. As a child, I loved filling my piggy bank with the extra change I found hidden underneath couch cushions and other nooks and crannies.
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The end of winter often signals a wake-up call when it comes to our health. After months of hearty soups, fuzzy blankets and generally staying indoors, we start to realize that all of that sitting around can wreak havoc on our bodies.
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U.S. Small Cap stocks have had an ugly year in 2014; as of 10/28/2014, U.S. Small Cap stocks (as measured by the Russell 2000 Index) trailed U.S. Large Cap stocks (as measured by the S&P 500) by 10%. Investors with a well-diversified portfolio—which includes small caps—have watched their returns trail major market indices.
It wasn’t supposed to be this way.
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There is a mountain of evidence that people who use a financial advisor have greater financial success than those that don’t.
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One of the biggest advantages of a life insurance policy is the tax benefits it can offer your beneficiaries. Generally speaking, the death benefits of a life insurance policy are not subject to income taxes. With current federal income tax rates topping out at 39.6%, this is an advantage that can lead to substantial tax savings.
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When creating or reviewing an estate plan, reviewing beneficiary designations on retirement plans or life insurance policies may not be given the weight it deserves. The assumption is that a will or trust is enough to make sure your money goes where you want it to go when you pass.
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Women’s role in financial matters is becoming more important than ever. In fact, a recent survey from LPL Financial showed that more than 66% of women had either primary or shared financial decision-making responsibility with their partners.1 It’s with this statistic in mind that I introduce one that may be more difficult for some women to swallow: 90% of all women will be solely responsible for their finances at some point.2
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Over the past few weeks, you may have heard financial pundits and analysts referring to the “Hindenburg Omen.” As you likely know, the ill-fated Hindenburg zeppelin took about half a minute to burn and come crashing to the ground, so it’s clear what this market signal used by technical analysts is supposed to magically foretell. Believers of this market signal suggest that the market is going to crash within the next 30 days.
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1. I’ve done well for myself, but I’m far from a Rockefeller. Why do I need an estate plan?Everybody needs an estate plan, regardless of wealth.
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It’s not just insular Americans who do it. Individual investors and investment managers around the world invest in domestic equities out of proportion to the percentage of the total international equity market represented by the equities of their country. It’s called the Equity Home Bias Puzzle, and while it varies dramatically from country to country, it’s true in every country.
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The financial crisis is seemingly behind us, and the markets have hit all-time highs in recent months. You might think this would be a perfect setup for some opportunistic investors to hunt for that next “hot” stock, but some evidence reveals quite the opposite: Investors are generally looking for what they deem to be safer, more reliable investments.
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From your first paycheck to your final withdrawal, retirement planning is a journey. Learn key savings milestones and legal age-based rules—from catch-up contributions to RMDs—to help you stay on track.