Learning financial literacy, such as money management, budgeting, and investing, can seem daunting, but is no different than learning how to speak another language.
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The ABCs of Financial Literacy
April 5, 2024Social Security Simplified: Common Questions and Answers
April 5, 2024
While the Social Security Administration has tried to make the process easier to understand and navigate, many questions remain. Whether you are getting close to retirement or even if retirement is still a little way off, here are some common questions and answers regarding Social Security.
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How Does a Leap Year Impact Your Finances?
February 23, 2024
The calendar year we follow is not completely aligned with the 365-day cycle of the Earth revolving around the sun. It takes the Earth 365 days and six hours to travel around the sun, and because of that extra time, a leap year is needed to stay balanced.
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Why Your Credit Score Matters in Retirement
February 23, 2024
Regardless of the stage of life, your credit score is an essential component of your financial health when you're in retirement. A consistently strong credit score can pave the way for greater confidence, easy loan access, and lower interest rates. Many retirees overlook the importance of maintaining a suitable credit score after they stop working or that credit scores lose relevance in retirement. Yet, nothing could be further from the truth. Here's a detailed look at why your credit score matt
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2023- 2024 Quick View Tax Guide
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Maximize your tax savings this season with our comprehensive tax guide!
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You want to start a business? Now what?
January 30, 2024
Starting a new business is no small feat. It involves several of steps, from the early planning stages to filling out the necessary legal documents. Here are 10 steps to consider when starting a new business. 1. Create a business plan A well-defined business plan is essential because it helps establish achievable goals and a guideline for managing business operations. Starting a business is risky, but it can also be fulfilling, mentally and financially.
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How to Plan for a Healthy Retirement
January 30, 2024
Planning for retirement often involves focusing on your finances and ensuring that you not only will have enough to sustain you during your retirement but adequate funds to do the things you enjoy doing. While this strategy is a crucial part of retirement, it is not the only thing to consider as you near your desired retirement age. You also need to start focusing on how to ensure your retirement is healthy and financially stable. Below are a few ways to prepare for a healthy retirement that wil
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Key Numbers 2024
December 27, 2023
Its amazing how fast 2023 flew by and now 2024 has begun. It is the perfect time to organize for the remainder of the year.
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Your New Year’s (Financial) Resolutions
December 27, 2023
Cleaning up personal finances remains one of the top resolutions every New Year. But we all know what happens to most such self-promises, so here’s a month-by-month to-do list to help cultivate better financial health.
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Tax Prep Checklist: Everything You Need to Be Ready for Tax Season
December 27, 2023
Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key information you need when preparing this year's taxes.
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LPL Research Outlook 2024: A Turning Point
December 15, 2023
LPL Research’s Outlook 2024: A Turning Point provides insight and analysis into next year's opportunities, challenges, and potential surprises. We understand that making progress toward long-term financial goals requires a strong plan and sound advice. The insights in this report, combined with guidance from a financial professional, will help position investors to navigate this turning point and work toward achieving their objectives.
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2024 Contribution Limits: What’s New?
December 1, 2023
Life today is expensive, and contributing to a retirement plan is more beneficial than ever. Recently, the IRS announced it was raising the contribution limit for 401(k)s to $23,000 for 2024, up from $22,500. In a world where pensions are nearly gone, having the ability to put more money away can help you prepare for a retirement that may be here faster than you think. According to the Investment Company Institute, Americans had more than $7 trillion in 401(k)s and $13 trillion in individua
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A Holiday Survival Guide for Your Finances
December 1, 2023
The average family spends an extra $1,000 or more during the holiday season. From gifts and travel to dinners, shows, and decorations, each purchase adds up.1 How might you take full advantage of holiday cheer while avoiding the financial stress of going over budget? Here are four tips to help your budget have a happy holiday season.
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Talking To Your Children About Inheritance- Checklist
November 1, 2023
Generational wealth involves proactive financial planning, especially when parents or grandparents pass on their wealth to loved ones after they die. Entrusting family members with receiving an inheritance is more than just getting a hold of assets or a check in the mail.
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Determining A Personalized Inflation Rate
November 1, 2023
In the age of personalized medicine, tailored education, and customized diets, isn't it time we started considering a personalized approach to inflation? Inflation, as any economist will tell you, is the general rise in prices and the concurrent decrease in purchasing power over a period of time.
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Traditional vs. Hybrid Long-Term Care Insurance: Which is Appropriate for You?
October 6, 2023
The goal is to enjoy your retirement years as you imagined after a lifetime of working. One aspect of growing old that young people may overlook is long-term care insurance and how expensive it can be if you need it and don’t plan for it.
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12 Estate Planning Must-Dos
October 6, 2023
Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review.
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Breaking Out of Recession Burnout
September 8, 2023
Nearly 1 in 3 Americans report that they aren't prepared for a recession — despite the near-constant drumbeat of recession talk from media and economic experts alike. We discuss more about the likelihood of a recession in the near future, as well as what you can do to prepare yourself.
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5 Must-Have Items for Your Financial First Aid Kit
September 8, 2023
Do you have the documents you need if you find yourself required to vacate your residence suddenly? Do you know how to get in touch with your financial providers?
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Understanding 401(k) and IRA Withdrawals for Education Expenses
August 15, 2023
A student's education expenses may be reduced when a parent uses their tax-advantaged retirement account to help cover tuition and other related costs.
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A Financial Checklist for Life-Changing Events
August 15, 2023
When it comes to financial planning, people often think of financial professionals as people who assist with strategies for retirement planning. That is one aspect of their job; however...
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Tips for the Fast Growing Sandwich Generation
July 11, 2023
If you haven’t yet, you should start to address elder care with your parents to make sure that they are comfortable in their late years. It’s never too early to start preparing for the responsibility of caring for parents in the future.
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3 Key Money Moves Every Parent Should Make
July 11, 2023
Whether you are expecting your first child or have been a parent for years, finances and building a future for your family go hand-in-hand. Luckily, there are money moves you can make now to help manage financial stress.
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Four Steps to Take if You’re Retiring Next Year
June 20, 2023
Before you start planning your retirement party, make sure you do these four things if you're retiring next year.
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A Global Recession in 2023: Are We There Yet?
June 20, 2023
With total bankruptcies up 18% in the first quarter of 2023 – surpassing 100,000 total bankruptcy filings –it's natural for investors to feel uneasy.
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When the Stock Market is Down, Should You Consider a ROTH IRA Conversion?
May 4, 2023
A Roth IRA conversion involves repositioning traditional IRA or qualified employer-sponsored retirement plan assets into a Roth IRA. One reason people convert traditional IRAs...
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Understanding Life Insurance Beneficiary Arrangements
May 4, 2023
In the language of life insurance, a beneficiary is the recipient of the policy’s proceeds when the named insured dies. The owner of a life insurance policy has a great deal of flexibility in...
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Going Paperless in Account View 2.0
April 20, 2023
Get more security &convenience with your financial statementsI wanted to let you know you have the option to go paperless with your documents inside the Account View portal.
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Eleven Ways to Help Yourself Stay Sane in a Crazy Market
April 20, 2023
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It's useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are 11 ways to help keep yourself from making hasty decisions that could have a long-term impact on your ability to achieve your financial goals.
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3 Questions to Ask Yourself Before You Claim Social Security
April 20, 2023
Planning for retirement is exciting, but it may come with a bit of stress. If you worked hard all your life, now might be the time to relax and enjoy the fruits of your labor. One of the things that you may need to consider is when it is time to begin claiming your Social Security benefits. If you are unsure when to start your claim, here are a few questions that may help you determine if it is time to make a claim or if you should delay a little longer.
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Common Factors Affecting Retirement Income
March 13, 2023
When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you...
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Financial Mistakes to Avoid in 2023
March 13, 2023
Could you be losing money because of simple monetary mistakes? Avoid these money-wasting habits in 2023 to have more cash when you need it...
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SECURE 2.0 Top 10 Provisions
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Congress passed SECURE 2.0 as part of the fiscal 2023 spending package. This bipartisan retirement security legislation could present opportunities for your retirement savings strategy.
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5 Ways a Financial Professional Could Be a Small-Business Owner's Best Friend
February 7, 2023
As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However...
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Planning For Unexpected Costs Before You Retire
February 7, 2023
Your open heart and your relatives can combine to threaten your retirement savings – savings you soon may need. Learn the true cost to your future before you write that well-intentioned check.
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2022/2023 Tax Season at a Glance
January 4, 2023
Use our 2022/2023 Tax Season Guide to help you this tax season.
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An Annual Financial 'To-Do' List to Help Keep Your Finances on Track
January 4, 2023
While some financial tasks are time-sensitive, others can be checked off the list as you complete them throughout the year. Here is a month-by-month to-do list to help you pursue your financial goals and keep you on trac
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IRS Increases 401(k) Limit By Record Amounts
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As inflation soars, you can now save a lot more for your retirement. On October 21st, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022.
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The 12 Days of Year-End Planning: Things to Consider Going into “The New Year"
December 16, 2022
At the end of the year, it is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming. Consider breaking up the responsibilities over twelve days, focusing on one each day, and ensuring it gets a comprehensive review
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LPL Research Outlook 2023: Finding Balance - Executive Summary
December 16, 2022
LPL Research’s Outlook 2023: Finding Balance is our guide to how the readjustments in the economy and markets may impact you in the coming year. The disruptions may not be fully resolved and there may be more challenges to come, but progress toward finding balance is well underway.
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5 Year-End Tax Planning Questions to Ask Your Financial Professional
November 8, 2022
The average U.S. income tax rate stands at just over 13%—and if you're like many taxpayers, you're always looking for new tips and tricks to help reduce this percentage.
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Warren Buffett on How to Plan for Inflation
November 8, 2022
We’ve all heard about Warren Buffett, the 91-year-old multibillionaire known for his friendly demeanor, modest style of living in Omaha, and remarkable ability to create wealth. How does he make so much money?
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Preparing for Year-End and the 2022/2023 Tax Season
November 7, 2022
Year-end is approaching and being prepared is the best way to make this tax season your easiest yet. Following are important information and tools to help you get ready.
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Year-End Wealth Planning Guide
October 6, 2022
As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances.
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Thriving Through Market Volatility
October 6, 2022
What should you consider as you navigate market volatility?
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Designating a Beneficiary for Life Insurance
September 7, 2022
Designating a Beneficiary for Life Insurance A beneficiary is the person or entity you name (i.e., designate) to receive the death benefits of a life insurance policy. Some states require that your beneficiary have an insurable interest in your life or be related to you (at least at the time the contract is initiated), while others have no such restriction.If you do not want to name an individual or entity as your beneficiary, you can name your own estate.
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401(K) Rollover Options to Consider
September 7, 2022
When people are leaving their employer, one of the decisions they need to make is what to do with their 401(k). A retirement plan participant typically has four options (and may engage in a combination of these options), each choice offering advantages and disadvantages. Here, we will examine each 401(k) option.
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Inflation Reduction Act: What You Should Know
August 29, 2022
The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks. Additional funding is also provided to the IRS. Some significant provisions in the Act are discussed below.
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Financial Planning at Every Age
August 8, 2022
Americans are budgeting more due to the pandemic. Knowing where your money is going and making sure you're adequately funding your future could be helpful to maintain your lifestyle for the decades that you may live. Whether you're a Baby Boomer, Gen X-er, Millennial, or a member of Gen Z, there are a few things you may focus on to help you pursue your financial goals.
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Midyear Outlook 2022: Navigating Turbulence
July 13, 2022
Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a full-blown crisis like 2008–2009 or 2020, but the ride has been very bumpy.
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3 Tips to Stay Calm While Navigating a Volatile Market
July 11, 2022
When market volatility takes investors on a wild ride, fear and panic are common responses to this stock market roller coaster. Acknowledging these emotions may be a good first step, but acting upon them could result in impulsive, irrational decisions.
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Six Uses for Life Insurance You May Not Know About
June 2, 2022
When people think of life insurance, what usually comes to mind is settling the deceased's final expenses and providing financial support for their beneficiaries. Although these are the most common uses of life insurance, cash value, or whole life insurance, they offer...
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Five Lessons To Remember During Bear Markets
June 2, 2022
The real value of a bear market may be that it gives investors, who are temporarily frozen within its grip, the opportunity to learn or relearn important lessons regarding risk and diversification.
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Pension Payout Options
May 4, 2022
When you think of retirement, you probably envision the enjoyable ways you will spend your free time. But, you may also want to give some thought to receiving your funds while in retirement.
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Business Succession Planning
May 4, 2022
Business Succession Planning When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or..
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The Great Wealth Transfer: Is Your Family Prepared?
April 7, 2022
Over the next twenty years, a wealth transfer will occur that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations.
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Financial Traps to Avoid
April 7, 2022
There's a good reason so many athletes, entertainers, and business people who made seven figures and higher suddenly find themselves filing for bankruptcy. Money mismanagement can eat through...
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Paying the Bills - Potential Sources of Retirement Income
March 1, 2022
Planning your retirement income is like putting together a puzzle with many different pieces. One of the first steps in the process is to identify...
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Asset Allocation
March 1, 2022
Asset allocation is a common strategy that you can use to construct an investment portfolio.
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2021/2022 Tax Season at a Glance
February 3, 2022
Download the 2021/2022 Tax Season at a Glance guide from LPL.
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Tips for Navigating a Volatile Retirement
February 3, 2022
Retirement is the time in your life when you want to sit back, relax, and enjoy the fruits of years of hard work. But unfortunately, when the market is volatile, it may bring additional anxiety and stress. The good news is, a volatile market does not necessarily spell disaster, and by following a few simple tips, you may be able to reduce anxiety as you navigate through these times.
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Tips for Organizing Your Financial Documents
January 4, 2022
In an increasingly paper-free society, organizing your financial documents can still be a challenge. No matter how simple or complex your financial picture might be, it takes some thought-out organization to keep your tax documents, service records, and paid bills in a format that will allow you to easily access information when you need it.
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Five Wealth-Building New Year's Resolutions
January 4, 2022
At the beginning of each year, and regularly after that, it may be a wise idea to take stock of finances and make some changes to help improve your financial life. Here are five resolutions you may make to increase financial independence and work toward building wealth.
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Preparing for Year-End & the 2021/2022 Tax Season
December 14, 2021
Year-end is approaching and being prepared is the best way to make this tax season your easiest yet. Following are important information and tools to help you get ready.
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Volunteering Tips for Families
December 10, 2021
So, you’re interested in volunteering as a family this season. That’s wonderful—and we commend you for your service! It’s always rewarding to donate your time to a charity that’s important to you.
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Charitable Ideas for What to Do With Your Money
December 2, 2021
Giving away some of your money is a great way to support the people and organizations you love. But there are smart ways to do it, minimizing your taxes and avoiding pitfalls along the way.
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Are You Maximizing 401(k) Contributions?
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The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a sufficient income to live on during retirement. To combat this financial challenge, many small businesses have adopted the corporate approach to 401(k) matching.
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A Financial Review Can Pay Off at Year End
November 2, 2021
Often, what are considered old-fashioned practices, such as performing periodic financial reviews, can lead to greater potential success in the long run. Why not spend a few hours reviewing your finances? The changes you make today could result in increased savings. Consider the following seven important items...
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Estate Planning for Everyone
October 8, 2021
Have you ever wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here's a quick look at some steps you should consider taking in order to help prepare your family and to manage potential expenses in the event of your death.
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Jump-Starting The LTC Conversation
October 8, 2021
Talking about long-term care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status, cognitive function, and religious beliefs. If you don't know how to break the ice, consider the following strategies to jump-start the LTC conversation. Ask open-ended questions to open up the lines of conversation: How are you doing? Is there anything you need?
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Why Invest?
September 17, 2021
To accumulate wealth, people may choose to invest their money into various types of investments. Investing creates opportunities that otherwise would be difficult to manage due to the consistency of contributing to the investment. However, investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.
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How Long Before the Fed Changes Its Course?
September 14, 2021
Quantitative easing and short-term rates near zero could be ending soon Federal Reserve Chair Jerome Powell seems to have capitulated on plans to taper the Fed's stimulus program as of mid-July, causing the bond market to rally and the stock market to hit new highs. But economic data sets are still disappointing and rising interest rates and inflation are affecting consumers now. As we remain uncertain about when the taper comes, investors should expect more volatility.
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Should You Be Concerned About Inflation?
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If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, the Consumer Price Index for All Urban Consumers (CPI-U), often called headline inflation, rose at an annual rate of 5.0%, the highest 12-month increase since August 2008.1The CPI-U measures the price of a fixed market basket of goods and services purchased by residents of urban and metropol
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How Financial Asset Management May Help Investors Stay the Course
August 3, 2021
Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time outweighs such risks. However, because there are no guarantees, investing assets can be a nerve-wracking experience – especially during periods of market turbulence
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When to Call Me- Times to Call Your Financial Advisor
July 23, 2021
Most of us go to see professionals when we’re in trouble or during times of crisis. Think about it. We go to the doctor when we’re sick. We go see a lawyer when we have a pending legal matter. We go see a counselor when we’re feeling depressed. As a financial advisor, unfortunately, I often hear from clients after something has happened – and sometimes I’m limited in how I can help. Sure, I can often make a situation better, but if I knew about what my clients...
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The New IRS Tax Rates and Deductions for 2021
July 23, 2021
Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October and there are plenty of changes that will impact taxpayers in 2021. While it’s more than a year away (these changes are for 2021 returns filed by taxpayers in 2022), there are a few changes that you should know about.
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Shortages and Bottlenecks Expose Weak Links in U.S. Supply Chains
July 19, 2021
U.S. consumers won't soon forget the troubling shortages of personal protective equipment during the early days of the pandemic, or when the first stay-at-home orders spurred panic buying and stress-inducing shortages of toilet paper, cleaning products, and food.
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Key Benefits of a Financial Professional
July 19, 2021
Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial professional. Financial professionals help their clients create strategies to develop their wealth, from optimizing their taxes to setting retirement savings goals.But how do you know whether it's time for you to seek professional financial guidance? Learn mo
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