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When the economy slows down, everyday life starts to feel more expensive and a little more uncertain. Groceries may cost more. Job security feels shakier. Interest rates could climb. And suddenly, the financial cushion you once had...

For members of the "Sandwich Generation"—those currently in their 40s and 50s who are caring for children and their parents who are over 65 years old—estate planning may seem like a low priority. After all, when you're juggling...

What are marital and related trusts? The term "marital and related trusts" refers to the several types of trusts that married individuals can establish to maximize use of their estate tax applicable exclusion amounts (the amount that...

Managing retirement strategies and creating goals can help you stay focused and consistent in your financial efforts. It creates a sense of achievement while you make progress toward the pursuit of a fulfilling retirement and financial...

Every year, the holiday season inspires a beautiful wave of generosity. Donations surge. Volunteer sign-ups spike. People go out of their way to support those in need or brighten someone’s day. But what if that spirit of giving didn’t...

The holidays are a time for giving, gathering, and, if you’re like many young professionals, grinding through year-end deadlines, social expectations, and dealing with the pressure to spend. Between gift lists, travel plans, and...

One of the more difficult conversations for family members to have is talking about estate planning. There are several reasons for this, including the reality of our own mortality and that of our loved ones. In some families, it is an...

As a retiree, you've likely spent a lifetime planning ahead by saving for the future, guarding your health, and building a legacy. But while gifts of cash or keepsakes are always appreciated, there’s another gift to consider that’s...

Navigating the probate process is a legal, mental, and emotional process. The combination of grief, legal terminology, and a potentially lengthy process can be overwhelming. However, it is possible to weather this challenging time with...

Retirement is a chapter of life that, for some, may signal leisure, freedom, and working by choice, not necessity. However, this phase usually requires retirement income from retirement savings withdrawals. Different retirement account...

For nearly everybody who enters the workforce,retirement is something they work toward, think about, and plan for. However, there are different strategies when it comes to retiring. For some, the thought of being able to retire early...

Once you are in your 60s, you are likely to focus less on growing your retirement funds than answering, "When do I retire?" And once you crack open your nest egg, how should you allocate its contents? The answer often lies in a...

There are several ways high-net-worth individuals can benefit from life insurance. It is a vehicle that could provide loved ones with an income stream, it can be used as an investment strategy, it may help to lower your estate tax...

The cost of college tuition has gone up significantly faster than inflation over the past several decades. [i]The high price tag now associated with a college education makes it critical for families to carefully plan how to pay for...

If you are lucky enough to retire early before you become eligible for Medicare at age 65, you may have to contend with an expense you haven’t had to worry about while employed—the cost of health insurance. Health insurance isn’t cheap...

Suppose an emergency strikes and your family needs to quickly access important financial and personal information. Now, ask yourself—are these documents organized, secure, and easily accessible? Having a system for storing your crucial...

Many of us imagine a future shared with family or a significant other. But for a growing number of people, aging alone is a reality. If you don’t have immediate family or a partner, estate planning may feel overwhelming. You might...

The Social Security Fairness Act is a bill signed into law that repeals several decades-old provisions that previously reduced your Social Security benefits if you or a spouse received a pension from a non-Social Security covered job,...

Understanding the guidelines surrounding Required Minimum Distributions (RMDs) becomes crucial as we navigate the complexities of personal finance and retirement planning. For those who have inherited retirement accounts or are...

If you are a high earner not rich yet (HENRY), you probably make decent money but not enough to live solely off passive income or create generational wealth. This HENRY phase of your life comes with specific financial issues. High...

For those approaching or in retirement, managing Required Minimum Distributions (RMDs) is an essential part of your financial planning. Once you turn 73 (or 72 if your birthday was before January 1, 2023), the IRS requires you to...

As a small business owner, getting financing may be crucial to your success. However, with so many types of loans available, you may be unable to identify the appropriate one(s) for your business. Learn more about the most common types...

There are often red flags you may notice that indicate your parents have reached a point where they need help with their finances. At first, your parents might be resistant to this, believing they can still manage their financial lives...

The holidays are a season of giving, rejoicing, and celebrating. And sometimes, being joyous means having to spend some money. If you feel the pinch when the season ends, don’t worry! The following tips may help you get back on your...

Living a healthy lifestyle doesn’t just impact your body. It does wonders for your brain health as well. According to the Alzheimer’s Association, an estimated 6.9 million Americans are suffering from Alzheimer’s dementia, and the...

While starting a new year might bring a time of reflection and renewal for many couples, for others, it’s filled with planning and implementation for exiting the relationship. January has been dubbed “Divorce Month.” At the beginning...

High-net-worth (HNW) individuals play a crucial role in fostering positive change and impact on a global scale. However, for many first-time donors, the world of philanthropy can seem overwhelming or challenging to navigate. This...

As the year comes to a close, there are some important deadlines that you shouldn’t ignore. These deadlines affect your taxes, savings, and, perhaps, your financial future. Here’s a simple guide to help you stay on track before this...

Inheriting comes with many emotions, from sadness to confusion to perhaps even joy or relief. An inheritance can take various forms, such as cash, properties, stocks, bonds, property, or other assets. The person leaving the inheritance...

The #1 goal of adaptive planning is to deliver superior outcomes Uncertainty is an inherent part of the financial sector, and nowhere is this more evident than in finance management and analysis. The reality is that perfect financial...

An adequate emergency fund helps provide both security and flexibility We're living through interesting economic times. On the one hand, markets can be unpredictable and volatile. On the other hand, economic conditions are constantly...

Many near-retirees view their upcoming retirement as a time to kick back, relax, and make memories with loved ones. But for some, retirement may offer the opportunity to work for yourself instead of working for someone else....

Growth investing and value investing are similar yet different financial concepts that motivate investors depending on several factors. These motivations vary from person-to-person based on their personality, upbringing, short—and...

Medicare is complex with many different moving parts involved. First and foremost, it is always beneficial to gain a solid understanding of your options. There are two main types of Medicare: Original Medicare Medicare Advantage (also...

Like many other medical professionals, pharmacists often have much on their plate. Between managing medications, consulting patients, and keeping up with the pharmaceutical industry's ever-changing landscape, they may need more time to...

As we go through various stages of life, our insurance needs may vary significantly. Here’s a breakdown of the different stages: Early Adulthood (20s and 30s) Considerations: Affordability. Life insurance will be less expensive if an...

In the mountains of Ethiopia, around the year 850 CE, a goatherder named Kaldi went out in search of missing goats. When he located them, he observed them eating small red berries. He also noted the goats became energetic and would...

The 401(k) plan is an excellent way for HENRYs, high earners not rich yet, to save for retirement. Hitting the maximum contribution limit is a goal many work toward to reap the benefits of this tax-deferred saving strategy fully. But...

In today's society, blended families, where at least one parent has children not genetically related to the other spouse or partner, are increasingly common. This family structure has its dynamics and challenges, especially regarding...

An evolving investment theme that presents opportunities and challenges The BRICS group, encompassing Brazil, Russia, India, China, and South Africa, has long been a focal point for investors seeking to capitalize on the growth of...

Education has become increasingly expensive for parents, especially for those hoping to help their children stave off the burden of massive student debt. This may include having to contend with soaring inflation, spikes in cost of...

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride that...

The average college student graduates with around $30,000 in student loan debt. While this isn't an insurmountable amount of debt for a degree that may boost your earning potential, it also makes it important to maintain responsible...

Building on our 2024 outlook, "A Turning Point," this midyear update dives deeper into the evolving economic and market environment, exploring its potential influence on your investment strategy.

As Gen X-ers and Millennials move toward retirement, long-term care expenses are poised to make up an even larger share of their retirement expenses. But if you start planning early and focus on your goals, preparing for long-term care...

You have probably heard about financial planning and its potential benefits, but you are unsure how to apply the principles to your life. A financial plan is a collection of steps that help you to evaluate your financial condition and...

As high-net-worth (HNW) individuals approach their golden years, retirement planning often becomes a focal point of their financial strategies. One aspect of this planning that sometimes creates confusion or misinterpretation is the...

You probably already know that insurance is something you should have in case of unforeseen events. When it comes to estate planning, insurance helps manage the distribution of your assets the way you see fit. It may also help prevent...

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood. If not, try to imagine how it might be if your...

As US real estate investors look hopefully toward a soft landing for the economy, the commercial real estate sector remains a turbulent sea of risks, defying the gentle descent many had hoped for. Recent trends and historical data...

With the average price for private college tuition and fees hitting $43,750 for the 2021-2022 school year and public college attendees paying more than $28,000 per year, many parents are nervously anticipating what will happen after...

529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to...

The aviation industry has grown since more and more passengers have taken to the skies to travel to their destinations. Jobs in the aviation industry have also been expanding and evolving, providing many with rewarding and fulfilling...

Strategic planning and tactical insights from a financial professional Facing a layoff from your job can be an unsettling experience, especially in the dynamic and ever-evolving landscape of the technology industry...

Wealth transfer is more than just a financial transaction; it's an opportunity for families to pass on their values, wisdom, and a legacy of love. Navigating this process requires careful consideration, open communication, and a shared...

Healthcare is one of the more difficult areas to navigate as you get closer to retirement. With so much focus on saving enough for retirement and ensuring that your investments will keep up with inflation, many people fail to square...

Retirement planning stands as one of the most critical financial endeavors, particularly for executives whose roles entail significant responsibility and compensation. In this pursuit, Deferred Compensation emerges as a powerful tool...

As investors navigate the dynamic landscape of the financial markets, they find themselves at the intersection of cutting-edge technology and traditional expertise. The advent of Artificial Intelligence (AI) and data-driven solutions...

For real estate investors eyeing opportunities, 2024 could mark a pivotal moment in the market, according to insights from Cohen & Steers, a renowned asset manager with decades of experience in real estate investment. As the commercial...

Spring is a time of renewal and rejuvenation, as the world awakens from its winter slumber and new life begins to bloom. As the saying goes, "April showers bring May flowers", and this sentiment can also apply to your financial life....

Your teen is becoming more independent, but still needs plenty of advice from you. With more money to spend and more opportunities to spend it, your teen can easily get into financial trouble. So before money burns a hole in your...

Businesses generally are illiquid, which can create problems if a business owner requires care in a long-term care facility. LTC is ongoing care in a care facility, nursing home, or at home for those unable to perform a certain number...

The financial landscape is undergoing a significant transformation as the "Great Wealth Transfer" approaches, ushering in a new era of prosperity for younger generations. Over the next two decades, trillions of dollars will change...

When people think of retirement, they often have an image formulated in their minds of what it will be like. The thing about it, the reality might not be what they expected. The internet is full of retirement information; however, not...

Growing old is simply one thing you can’t avoid. 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...

You are finally retired after a lifetime of hard work, juggling responsibilities, and managing stress. During the pre-retirement phase, you did some planning, excited with the prospect of checking off that long list of all the things...

Looking for ways to save "I love you" on Valentine's Day? Then you may want to consider opening a spousal individual retirement account (IRA). This gift says, "Let's grow old together comfortably," and shows your partner that you care...

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...

Sometimes, based on the movement of the market and your risk tolerance, you may look for investment opportunities with a strategy encompassing wealth growth while mitigating the risk of unanticipated loss. There are two popular...

The Return of “The Magnificent Seven” "The Magnificent Seven," a cinematic triumph in 1960, mirrored the resonance of audience adoration and critical acclaim. Emerging as one of the year's highest-grossing films, it...

When filing your income taxes, each taxpayer is different. Some prefer reducing the taxes they owe and getting the most significant possible refund, while others work to keep the taxes they pay as low as legally required. The IRS...

Wealthy individuals are particularly attractive targets for lawsuits, given the potential for a sizable payout. In this backdrop, safeguarding one's assets from potential legal threats has never been more crucial.

It's a new year and the time of year when you want to make resolutions about your personal life, business life, and finances. It is the perfect time for couples to get together and set their own financial goals for the upcoming year.

From the outside looking in, the Grinch was a taker, while Santa has always been in the habit of giving. Analyzing their unique characteristics, which of the two would be the better investor? Let's break it down:

Many high-net-worth individuals are aware of their capacity to impact the world to make it a better place through giving. Philanthropy and charitable giving provide a platform for them to affect positive change beyond wealth...

No matter how successful your family business is today, at some point in the future, its ownership may need to change hands. Without a business succession plan, this transition can be fraught with hurt feelings, internal strife and...

When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting,...

Cyber Monday is one of the most popular shopping days, competing each year with Black Friday when it comes to scoring holiday deals. While online shopping continues to grow in popularity, it also opens the door even wider for those...

The holiday season is quickly approaching, and with it comes more opportunities to spend time with friends and family—but also more money. There’s a lot that goes into this time of year, from hosting family and friends to...

Tax planning preparations include small-business owners taking necessary measures to optimize their taxes by taking advantage of deductions and benefits. Here is a brief tax planning overview for small-business owners preparing for tax...

Long-term care (LTC) planning is a significant financial decision that requires thoughtful consideration and precise planning. This undertaking can be more complex for high-net-worth families due to a more extensive and diverse asset...

IRMAA, which stands for Income-Related Monthly Adjustment Amount, is a term that may not be familiar to everyone. However, for individuals enrolled in Medicare, IRMAA can have a significant impact on their healthcare costs. Here are...

Planning for your financial future and retirement looks much different now than in previous years. Some people must supplement their Social Security to have enough to maintain their desired lifestyle. This means financial planning is...

The Social Security system has long been a cornerstone of retirement planning, providing a safety net for millions of Americans who have paid into the program throughout their working lives. For the Baby Boomer generation, born between...

This past June, the Supreme Court struck down President Biden's plan to cancel up to $20,000 in federal student loan debt for qualified borrowers.  As a result, millions of student loan borrowers are scheduled to start paying back...

On September 13, 2023, it was announced that August saw inflation record its biggest monthly increase for all of 2023 as energy prices rose significantly. Specifically, the Department of Labor reported that the Consumer Price Index...

Despite progress toward financial planning and saving, women often face challenges regarding their financial security. Among these challenges is more time away from the workforce, the gender pay gap, and other factors that impact their...

Summer could be a great time to create a back-to-retirement list too. It’s hard to believe, but soon Labor Day will be in the books. The weather will start to turn a little cooler, college football will return and the kids will...

Wall Street is slowly starting to talk about an “expansion economy” and forgetting about any recession fears. July’s consumer inflation report was soft, so attention will soon shift to gross domestic product in the...

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....