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There’s a potential game-changer being discussed when it comes to retirement savings. It’s called SECURE Act 2.0 (Setting Every Community Up for Retirement Enhancement Act), and it’s intended to help more Americans ensure they’ll have...

The Internet is your entrance to the marketplace for the world from the comfort of your home or office. There are safety concerns to address when it comes to identity theft and fraud because organized identity theft groups constantly...

If you're one of America's 64 million Social Security beneficiaries, you might want to prepare yourself for a significant pay raise. According to the Social Security Administration, the annual cost-of-living (COLA) benefits increase...

It's Long-Term Care Awareness Month, and it might also be time for you to purchase your insurance plan. Insurance can be costly and confusing, but it's also necessary to avoid wiping out your retirement savings. Knowing what you need...

It's Long-Term Care (LTC) Awareness Month, and whether you're in the market now or just curious about insurance coverage choices for the future, it's important to know where, why, and how to get answers. There are three main options...

According to a February 2021 Barron's article, there will be 60% more elderly population by 2030. That's less than a decade away, which means now is the time to talk about care planning. If you're an annuity owner, chances are you're...

Let's start with the most echoed statement on the web: Americans are living longer but aren't necessarily healthier, leading to health problems later in life. The U.S. Department of Health and Human Services reports that 69% of people...

Annuities are one way to generate a lifetime income, save for retirement, and leave a financial legacy. However, there are three main types of annuities—fixed, variable, and indexed—so selecting the right one for you can get...

Social Security is neutral with respect to gender—individuals with identical earnings histories are treated the same in terms of benefits. This information from the Social Security Administration (SSA) highlights how the Social...

According to the FINRA website: power of attorney is a legal document you sign to grant someone you trust with authority to make decisions on your behalf. You must sign when you're still mentally competent for your power of attorney to...

Medicare open enrollment – also known as Medicare's annual election period – runs from October 15 through December 7. During this window, Medicare plan enrollees can reevaluate their coverage and make changes or purchase new policies...

While life insurance is designed to benefit your loved ones after you pass away, it also helps them and you before that time comes by way of something known as living benefits. Living benefit options for term life include: Accelerated...

Ever wonder what type of life insurance is best for you? It's going to depend on a variety of factors, including how long you want the policy to last, how much you're willing to pay, and if you wish to use the policy as an investment...

Life can be full of surprises, and you want to be ready for whatever lies ahead. Through life insurance, you can prepare for the unexpected by providing financial security for your loved ones in the event of your death. An important...

The Setting Every Community Up for Retirement Enhancement (SECURE) Act fundamentally changed the rules governing distributions from inherited retirement accounts. Inheriting an IRA or 401(k) under the new administration could create...

Each type of retirement benefit has a different eligibility age. Your age plays a significant role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties. Key Milestones...

If you're 62 or older – and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses – you may consider a reverse mortgage. It allows you to convert part of the equity in your home into cash without...

Pre-tax contributions, tax-free withdrawals, and tax-free gains = the Holy Grail of savings opportunities. If you estimate yourself at the 25% tax bracket when you retire, and you put $60,000 into a savings account, you lose $15,000 to...

2021 could be the pivotal year for how businesses operate moving forward. Will they offer employees a work from home option, will Zoom meetings be standard procedure, will telehealth replace typical doctor visits? The answers are still...

There's much to be said for taking care of your health, and you should make caring for your wealth part of your focus, too, as it directly correlates. In fact, the American Journal of Public Health confirms that Americans at lower...

The 2019 Employee Wellness survey by PwC found that 73% of Millennials, 70% of Generation X, and 61% of Baby Boomers think health care costs will adversely affect their retirement. If a healthy 65-year-old couple retiring in 2019...

"Shirtsleeves to shirtsleeves in three generations." The saying is true, and the cycle is real. As the expression indicates, after the buying, the building, and the selling, there's rarely anything left of a family's wealth for the...

For many, owning a business is the American dream come true, and making management decisions that grow your business brings about well-deserved feelings of accomplishment. Playing devil's advocate here—did you decide to use any of your...

Carrying consumer debt into retirement can quickly reduce the monthly cash flow available to spend on healthcare, travel, and leisure activities or could necessitate drawing down retirement accounts faster than planned. Either...

Over 99% of America's 28.7 million firms are small businesses, and 88% have fewer than 20 employees. After the year of COVID, many can't wait for a Government stimulus to bail them out and are instead looking for ways to fund their...

Many families have plans to give their children and grandchildren financial gifts when they die, but it might make sense to gift earlier. Making financial gifts during your lifetime can significantly impact their lives, sometimes when...

Every year the federal government decides how much of your estate isn't subject to taxes when you die. This year, thanks to inflation, it increased to $11.7 million. This means, when you pass away, the value of your estate is...

Millennials are victims of many stereotypes, but the one that portrays them positively suggests they're a planning generation. They research and collaborate and plan for all life's major decisions, and their long-term care (LTC) isn't...

Does your estate plan include transferring your wealth onto your family? Have you looked over potential tax implications? It's important to understand that your beneficiaries may be in for sticker shock when they receive a tax bill...

Guaranteed returns, you ask? Yes, but it's complicated – one simple word can make a big difference. If you have a fixed annuity, you get a fixed rate of return. If you add one simple word "indexed" creating a fixed indexed annuity,...

We spend years of our life working and saving for that retirement dream, and as you get closer, it's important to take all steps to preserve your nest egg. Perhaps a move across state lines will help in that endeavor. Some states don't...

Cryptocurrency is a form of digital payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that...

The Social Security Administration (SSA) recently announced that the annual cost-of-living adjustment (COLA) for benefits would be 1.3%. Here's a closer look at some of the most significant changes affecting Social Security recipients...

Financial Literacy Month suggests it's time to take advantage of available tools, resources, and tips for financial education that can help increase your financial success. This month put yourself back in the driver's seat! Do a...

Don't overlook the benefits that annuities provide during your retirement planning years. Yes, some myths make them appear to be a lousy choice, but there are reasons to trust in financial insight rather than the Google results on the...

The loose definition of a financial professional is someone that provides insight intended to lead to a better outcome for your financial future. The workings of their daily routine include everything from planning to building your...

If you have a Health Savings Account (HSA) option, the benefits are worth the investment. The tax benefits of an HSA magnify the advantage of investing in, say, stock funds or diversified mutual funds. First, your contribution is...

Retirees face multiple income traps, and many retired taxpayers will see a portion of their Social Security income make its way onto the taxable income line of their 1040s. Those who convert their traditional IRAs to Roth IRAs are...

The Internal Revenue Service announced that the nation's tax season started on Friday, February 12, 2021, but it’s important to note that the filing deadline wasn’t extended. The February 12 start date for individual tax return filers...

As if the 2008 recession wasn’t rough enough, hardships struck millennials again in 2020. Already facing professional and financial challenges, including a dismal job market, sky-high levels of student debt, and soaring living costs,...

Imagine if Goldilocks was planning her retirement: “this date is too early” and “this date is too late” but “this date is just right”! Sweet retirement can’t come soon enough for some of us, but it’s important to know precisely when...

Your business’s success is in your hands when you're self-employed, so you need to be knowledgeable about and take advantage of whatever assistance is available—especially when it comes to lowering your tax bill. It’s commonly known...

The face of identity theft has changed dramatically, evolving with the technology and economic landscape surrounding it. Understanding your exposure and staying informed of the trends and methods that thieves use to steal from you is...

“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You're on your own. And you know what you know. And YOU are the one who'll decide where to go...” ― Dr. Seuss, Oh, the Places...

This past year highlighted small businesses more than any other. The impact from a struggling economy has not gone unnoticed and the support from local shoppers has made the difference between open and closed for many small business...

All 50 states and the District of Columbia have now certified their presidential election results, and President-Elect Joe Biden will drive our next four years. What does that mean for your investments as you move closer to retirement?...

Happy New Year! It’s a new year, a new you, and a new time to do things differently—like your taxes. Tax-filing season is officially here, and there are many things you can do to be prepared and organized. Here are a few simple tips...

Did you know it’s possible for your tax bill to go up once you retire? One possible reason: A portion of your Social Security benefits could be taxed. Another possibility: Your tax-deferred retirement account tax bill comes due when...

The Social Security Administration (SSA) recently announced that the 2021 annual cost-of-living adjustment (COLA) for benefits will be 1.3%. That's a small but essential increase for millions of beneficiaries who will see a rise in...

Go beyond maxing out your employee 401(k) to find the opportunities that could save you your hard-earned cash when it comes to paying taxes. Minimize the use of Active Management for Brokerage Accounts.The more you trade, the more...

Are you wondering if you can deduct your credit card interest this tax season to move to a lower tax bracket? The answer is most likely no. The Tax Cuts and Jobs Act, signed by President Trump in 2017 was the biggest overhaul of the...

In addition to the emotional high that giving to those you care about brings, giving can now also be a savvy tax move for families with substantial wealth. That’s because both the present value and any potential growth of the...

Consider this: about 70% of Americans will require long-term care, long-term care facilities cost between $80,000-$150,000 annually, and the average stay is approximately 3 years. Those figures all add up to one thing; it’s time to...

Medicare Open Enrollment ends December 7, 2020, and there are a lot of changes that will impact Medicare Advantage plans and Part D coverage options for those ages 65+. Premium and deductible costs – The standard premium for Medicare...

Should you develop a health condition that requires part- or full-time care, and your health insurance doesn’t cover the costs, how will you pay for what you need? Answer: Long-Term Care Insurance (LTCi). The U.S. Department of Health...

As we head toward the finish line of 2020 and gear up for 2021, setting goals and getting your life in order should be a priority. One of the best places to start is by understanding your net worth and determining if you are on track...

You have worked hard to build up your retirement savings, but you can’t keep retirement funds in your account indefinitely. However, thanks to the recent SECURE Act, if your 70th birthday is July 1, 2019 or later, you can delay taking...

Medicare Open Enrollment starts October 15, 2020 and if you’re new to Medicare or if you need to review and make changes, it’s time to talk with your financial professional to ensure your future medical needs will be covered....

Social Security (SS) faces a financial challenge from the impending retirement of the largest generation in American history, the 76 million people born in the “baby boom” years (1946 through 1964). These boomers began to hit...

For most families, navigating elder care decisions falls somewhere between adult siblings happily gathering together and planning for their parent’s future and siblings who barely speak making rash decisions in an effort to end a...

2020 came in like a hurricane and it’s still stirring up the landscape nine months later. Unemployment is at an all-time high and consumer spending at its lowest. Any changes from this year’s election won’t come in time to get your...

The elections are coming up fast and with the current state of the country, we can expect a lot of changes to take place soon after the election, regardless of the outcome. Many of these changes will impact you financially so you want...

With COVID-19 at the forefront of everyone’s mind, many who have been holding off on estate planning are now prompted to quickly finalize estate plans so they will have something in place should illness or worse come calling. Without...

For young couples just getting started, new commitments, such as buying your first home or having children, bring with them the responsibility of making sure your loved ones will be provided for financially. Life insurance can help...

If the fear of outliving your retirement savings really haunts you, then looking into income sources that will keep going as long as you do may not be such a bad idea. You can potentially alleviate this financial anxiety by considering...

Election years historically bring uncertainty to the stock market, and uncertainty often translates to economic volatility. While the changing of the guard will have an impact on your retirement, changes you make today can determine if...

Have you discovered the value of podcasts for financial insight? Gaining outside perspectives is a smart way to look at your financial future. There are podcasts for all ages, genres, and cultures and they can be fiction or nonfiction...

The S&P 500 index rose nearly 29 percent last year, its best performance since 2013. But it might be somewhat concerning that market’s historic run in 2019 was driven almost entirely by a vigorous rise in price rather than steady...

The S&P 500 finished 2019 up nearly 30 percent on the year, the strongest performance for that index in six years. The tech-heavy Nasdaq did even better, posting a gain of 35 percent, while the Dow Jones Industrial Average was up 22...

In a strong year for the market, no stock in the S&P 500 index lost more than half its value last year. Here are the ten worst-performing stocks in the S&P for the year 2019: Abiomed: down 48 percent Macy's: down 40 percent DuPont:...

"I hope that in this year to come, you make mistakes. Because if you are making mistakes, then you are making new things, trying new things, learning, living, pushing yourself, changing yourself, changing your world. You're doing...

Four of the stocks in the S&P 500 literally doubled in value this year. On the final day of 2019, these have been the best-performing stocks in the S&P for the year: Advanced Micro Devices: up 150 percent Lam Research: up 120 percent...

Do you know what National Returns Day is? It's a fairly new "holiday," taking place each year on January 2. And for the seventh straight year, it's going to be a record setter. United Parcel Service said last week that it forecasts a...

What has happened to retirement in America over the past decade? To a certain extent, it has become a tale of two very different realities. Remember, in 2010, the economy was just beginning to recover from the worst recession and...

It’s always a little unfair to list the worst stocks over any long period of time, since the absolute worst ones will have gone out of business long before the time frame ends. Nevertheless, here are the worst-performing S&P 500...

Christmas is a season for kindling the fire for hospitality in the hall, the genial flame of charity in the heart. ~ Washington Irving The thing about Christmas is that it almost doesn't matter what mood you're in or what kind of a...

It has been a notably strong year for U.S. equity markets, with the S&P 500 boasting a gain of 28.5 percent, while the Dow Jones Industrial Average is up 22 percent in 2019. The Nasdaq exceeds them both, with a gain of 34.5 percent....

We're approaching not just the end of the year but the end of the decade. According to Bespoke Investments, these are the ten stocks that have been listed in the S&P 1500 for the entire decade that have returned the most (through...

Did you get a raise in 2019? An estimated half of U.S. workers say they didn’t get a raise in the past year, a new Bankrate survey shows. But even that's an improvement over the previous year’s figure of 62 percent. Some 49...

Earlier this week, the House passed a $1.4 trillion spending bill that includes the bipartisan SECURE Act, which aims to increase the ranks of retirement savers and the amount they put away. The measure now will head to the Senate,...

What's happening to car loans in America? A Federal Reserve Bank of New York survey of consumer credit out this week showed a spike in the rate of auto-loan rejections, to 8.1 percent in October from 4.5 percent last October. For the...

While 2019 isn't quite over yet, is it possible the first 11 months of this year bode well for next year? The markets soared heading into the final month of the year, with the S&P 500 gaining over 25 percent through the end of November...

It will come as no surprise that health concerns weigh on Americans across the wealth spectrum, millionaires included. Fidelity Investments’ most recent Millionaire Outlook Study, which analyzed the investing attitudes and...

Here’s an odd retirement trend: Millions of workers who contribute to a 401(k) plan do so in order to have money when they retire. But when they do retire, in increasing numbers, they are’t touching those accounts - at...

Some strong news for the economy out today: The government reported this morning that the economy added 266,000 jobs in November. The unemployment rate ticked back down to 3.5 percent, matching a low from earlier this year that at the...

Two months into the fourth quarter, analysts have shaved 4 percent off their earnings estimates to $41.12 a share. That's a drop of almost 1 percent compared with a year ago, following a 1.3 percent decline last quarter. It's common...

Tough news for the economy: Manufacturing activity continued to lag in November with a decline in inventories and new orders, according to the latest ISM Manufacturing reading. The November reading came in at 48.1, down slightly from...