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Start the new year financially strong. Discover 10 tips to build financial wellness, boost savings, and take control of your money today.

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...

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a...

Those turning 65 this year have a 7 in 10 chance of needing long-term care (LTC) at some point.1 With the cost of a private room in a nursing home now topping $100,000 per year, the thought of paying this — or for a loved one — can be...

With a few simple actions, you can ensure your estate planning is effective Whether your estate plan is simple or complex, there are many details, which are often overlooked, that can undermine your plan’s effectiveness. Are you aware...

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...

Every year, the holiday season sneaks up on us and, before we get to turn around, it’s over. This frenzied time of year is filled with shopping excursions and office parties, and it’s easy to let financial planning slip through the...

It's difficult to reach a destination unless you know where you're heading. Yet only 54% of workers or their spouses have tried to estimate the savings they would need to live comfortably in retirement.1 To get a start on establishing...

Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals...

In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash...

Estate planning is also significantly relevant for single individuals without children. It is a protective measure that ensures assets are distributed according to one's wishes and helps minimize legal disputes among family members....

Saving for retirement is important for all ages, the key is to start early Land a great new job? Awesome. Now is the perfect time to think about your 401(k) and retirement plan, whether you had one before or not. Saving for retirement...

Owning luxury assets such as exquisite homes, cars, yachts, and priceless art pieces requires safeguarding them against potential risks or loss. This situation is where umbrella insurance comes into play. It acts as an extra layer of...

You work your entire life with the hope that one day you may be able to retire when you choose and have the free time to take advantage of all of the social activities, travel, and hobbies you couldn’t do regularly with the...

Matching your tolerance for risk with your investment objectives Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but...

In today's economic environment, where market volatility and inflation are often unpredictable and inevitable, investing can sometimes feel like a rollercoaster. However, investing during these periods doesn't have to be a...

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...

While a Roth IRA conversion may suit some, wealthy individuals may not consider this investment strategy under certain circumstances. Here, we delve into why this strategy may not be appropriate for them. First, what is Roth IRA...

Whether you're facing an unexpected job loss, a medical emergency, or a financial crisis, life's hurdles may leave even the most responsible savers scrambling for cash. If you’re feeling the squeeze, you might be looking at your 401(k)...

Approximately 70 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to...

About 70% of U.S. private-sector workers have the option to contribute to a retirement plan such as a 401(k), 403(b), or 457(b) plan provided by an employer. Unfortunately, many of them don't take full advantage of this tax-friendly...

At one time, the only way you could join your company's 401(k) plan, 403(b) plan, or 457(b) plan was to put pen to paper and sign yourself up by filling out the appropriate forms. Now, though, in an effort to help participants increase...

During your working years, you've probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings...

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement...

529 plans can benefit adults in numerous ways besides being a savings vehicle for a child's education. It offers a straightforward way for adults to finance their education, take non-qualified distributions, fund a Roth IRA, and, under...

A 529 Plan, also known as a "qualified tuition plan," is an investment vehicle that offers numerous benefits to parents seeking to save for their children's future education. 529s are versatile and provide significant advantages that...

A life insurance policy is part of financial planning. Life insurance is there to help ease the financial trauma that comes with the loss of a spouse, parent, or partner. As you encounter different events in your life, you may need to...

Your goals and priorities will probably change as you plan to retire. Along with them, your insurance needs may change as well. Retirement is typically a good time to review the different parts of your insurance program and make any...

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...

Life insurance and annuities are essential financial planning tools for providing future independence. However, depending on the individual's goals, each may be part of a comprehensive financial plan. Life insurance- is used for death...

Addressing wealth management comprehensively in today's market environment is essential for individuals and business entities. Given the dynamic nature of global markets and the ever-changing economic landscape, navigating investment...

As we look ahead to the life insurance landscape, numerous changes are taking place that seek to benefit consumers. The impact of global events has underlined the importance of having a life insurance policy, leading to an increase in...

Artificial intelligence (AI) is rapidly becoming a fixture in many industries. For life insurance users, AI helps to target online advertising and helps customers learn more about what policy might work for them. AI also helps life...

Meeting with a business lender can be both an exciting and anxious time. One way to alleviate some of the stress is to be as prepared as possible for when you sit down to discuss a potential loan. Generally, business loans require...

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...

National Savings Day, celebrated October 12, is a reminder of how important it is to build a solid financial foundation. For High Earners Not Rich Yet (HENRYs), the path to financial security can seem both promising and challenging....

Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs' current financial condition and projected financial outlook. These reports have warned for years...

Tips to guide your parents with confidence As professionals, managing our own finances can be a challenge. However, one area that we often overlook, yet is vitally important, is understanding and navigating our aging parents' finances....

Medicare policies are the health insurance benefits you have worked toward throughout your life, and having the proper policy is critical as you are likely to face more health problems as you age. While these policies can provide you...

Yes, even if you are a business owner or self-employed, you can receive Social Security benefits as long as you have been paying Social Security tax each year. The Social Security Administration defines you as self-employed if you...

Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs' current financial condition and projected financial outlook. These reports have warned for years...

Divorce can significantly change life and has considerable implications on taxes. Tax filing after divorce requires understanding new filing statuses, exemptions, child deductions, alimony, and property settlements, among other things....

Net investment income tax (NIIT), also affectionately known as the ‘You-Make-A-Lot-of-Money Tax,’ involves the net investment income of individuals, estates, and trusts. According to the Wall Street Journal, more Americans than ever...

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...

Many are interested in the impact of future tax legislation on Trusts. As we look ahead to 2025, it is crucial to understand how the evolving tax landscape may impact the administration, structuring, and distribution of Trusts. The Tax...

When it comes to planning for retirement, there are a myriad of strategies and options available. One often overlooked method is making after-tax contributions into retirement savings vehicles. This approach to investing after-tax...

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...

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...

Signing up for Medicare is essential to help provide you with the coverage you need as you age. But if you miss the deadlines, you could risk a lifetime of penalties. Here is what you stand to lose if you incur Medicare late penalties....

Finance these days may be overwhelming and stress-inducing. Whether it’s following up on overdue bills or saving for the future, financial woes may cause a domino effect that challenges the calmness you work hard to preserve. What if...

As you approach retirement, fully stepping away from work might seem less appealing than it did a decade or two ago. Instead, many people embrace semi-retirement to balance the need for continued income with the desire for more leisure...

A crucial aspect of planning involves understanding how much money you should aim to have in your 401(k) now, based on your age, as you save for retirement. Knowing this amount and devising a plan to work toward this balance goal is...

Every year, the holiday season sneaks up on us and, before we get to turn around, it’s over. This frenzied time of year is filled with shopping excursions and office parties, and it’s easy to let financial planning slip through the...

As we age, planning for the future becomes increasingly important. This is especially true when it comes to long-term care. For married couples, this planning is not just about individual needs but is also about ensuring that both...

Planning for long-term care (LTC) is essential to financial management and personal well-being. Addressing this crucial need has become more pertinent with the ever-increasing healthcare costs and a growing aging population. Having the...

Financial freedom is a state of being in control of one's finances, covering expenses easily, and saving for future goals. Financial freedom enables you to choose how you spend or interact with your money and have the choice to decide...

Money worries may be one of the biggest sources of stress—from wondering how to pay for an unexpected expense to making retirement calculations when considering leaving a job. In the midst of inflation, war, and stock market volatility...

If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves...

Small businesses have new reasons to consider the value of financial planning in working towards their business goals. Many owners are "bandonneurs" (a French word for "jack of all trades") who may successfully wear many hats, but...

Financial education is constantly evolving. As investments, financial priorities, and the economy change, so do financial strategies and plans. To stay on top of your retirement and ensure that you are on your way toward your financial...

Approximately 60 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to...

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...

As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon. But time has a way of flying by, and you realize that maybe you are not...

The average American worker will change jobs more than once in their lifetime. While there are multiple options such as leaving your 401(k) in your former plan if allowed, cashing out the account balance, or transferring the 401(k),...

Although inflation has finally begun to slow, many consumers are still reeling from the impact of several years of high inflation.1 During these challenging times, it's crucial to adopt money-saving habits that ease the impact of...

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 decisions rarely exist, making the finance environment appear...

Planning and communication are your best tools to beat life-stage fright Summer is here, and we are fast approaching wedding season. Then, after a pause, it will be homebuying season; and then, for some, baby season; and then, for some...

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...

It is not just a routine task, but a strategic necessity to align with your goals. As we reach the halfway mark of the year, it's a prime opportunity to assess your financial planning goals and review your investment portfolio. This...

Seeking Simplicity For those who don't have a 401(k) option through their employer—which includes some small-business owners—how to save for retirement might be challenging. In a competitive employment market, offering retirement...

The “Sandwich Generation” faces a lot of struggles. If you’re unfamiliar with this term, it describes a demographic where usually middle-aged individuals must support aging parents at the same time they’re raising children. This...

Sandwich Generation Stress and the Importance of Social Wellness The "Sandwich Generation" wakes up every morning with a lot on their plates. They not only have to provide support for themselves and their own children but also help to...

Those who receive an inheritance with the passing of a loved one are potentially given the gift of financial freedom if they choose to manage the wealth carefully. Did you know that only about one-third of adults have a prepared will,...

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...

Is There Really a Difference? The terms "rich" and "wealthy" are often used interchangeably. But are they really the same? As the saying goes, "Money talks, but wealth whispers." Here are some of the differences between being rich and...

With rising housing prices and interest rates, you may feel pressured to jump on the carousel to avoid being left behind. However, a home is one of the most expensive purchases most Americans will make, and you don't want to rush into...

The Secret Weapon for Wealthy Investors Annuities are investment strategies offered by insurance companies that provide a steady income stream in retirement. These financial vehicles may particularly appeal to high-net-worth (HNW)...

When you think of your financial wellness, you are likely not considering how it may affect your social life or vice versa. While many factors may influence your financial situation, social influence is the component that is given the...

April is Stress Awareness Month, and there's no better time to reflect on and address the stressors that may impact our lives. Financial stress is an interesting challenge for high-net-worth individuals and families since most...

It’s time for us (you) to rethink the retirement age and make adjustments As the wealthiest society in human history, it is reasonable to expect that we should prioritize the well-being of our citizens, particularly as they age. Yet,...

Life insurance has its benefits, and choosing a manageable life insurance policy is a critical step in your retirement planning. It can help your family cover end-of-life expenses, funeral and burial costs, and pay for estate taxes. It...

Financial stress can have a direct negative impact on a person's health and happiness. Unfortunately, this may lead to a downward spiral. The more stress you're feeling, the larger your financial hurdles may seem, and the more you...

So You Think You Might Need A Financial Professional? National Financial Advisor Day is a celebration on April 18 of each year. This date is a time to explore the world of financial professionals and understand how they may help you...

How Social Security Fits into a Well-Rounded Retirement Plan  If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that...

Health insurance plays a pivotal role in safeguarding our well-being and providing financial support in times of need. However, these plans can differ significantly in terms of what their coverage includes, making it potentially...

Many workers have been dreaming of retirement since they first entered the workforce. However, once this retirement date draws near, the prospect of giving up your primary source of income may be nerve-wracking, even if you've...

Empowering High-Earning Women on the Path to Financial Success  As high earners not rich yet (HENRYs), women may find themselves in a position where their earning potential is high, but they may still have uncertainties about...

What is it? If you're like a lot of people, retirement won't be the world of gardening, golfing, traveling, and tennis you once envisioned. Rather, retirement will mean relaxing and working. Maybe you've retired from your "regular" job...

What are the advantages and disadvantages of using a credit card? If you're out shopping, it may be more convenient to carry a credit card to pay for your purchases than it is to carry cash or your checkbook. But that convenience comes...

Making The Best of the Rest of Your Life  While retirement is a time to enjoy the things you have worked hard for in life, the next chapter may leave some a little anxious. Retirement doesn't mean you have to retire from the...

Some older workers return to the workforce or continue to work well past retirement age. Workers over 50 may change jobs while working in the same occupation or field later in life to continue their careers for longer. Working while in...

As our population ages, discussions about long-term care (LTC) and who pays for it are essential. LTC is ongoing care in a care facility, nursing home, or at home for those unable to perform a certain number of activities of daily...

As a business owner, understanding the various strategies for rewarding and incentivizing your employees is vital for employee retention and business growth. One strategy is equity compensation, which may be valuable when used...

Wise Habits for Long-Term Care For High-Net-Worth Individuals  As high-net-worth individuals navigate the complexities of financial planning during their working years, one critical aspect often goes overlooked—long-term...

Common sense tips to help children, teens and other vulnerable groups The Internal Revenue Service (IRS) is helping families, teens and senior citizens learn about the continued importance of protecting personal information in helping...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include: If you have income from working in retirement....

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...

Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to...

If the end of the year has you in planning mode, you’re not alone—starting a new year may be a great opportunity for a review and renewal. What steps might you take for next year?  Review Asset Allocations Most...

With tax season coming to an end, it’s the ideal time to use this year's tax return to help update your financial plan. If you’re in the group of one in four Americans who do not already have a financial plan, it may be...

If you're curious about socially responsible investing, you may have encountered all kinds of phrases about this phenomenon, including socially responsible investing (SRI), mission-related investing, sustainable investment, ethical...

For those in Medicare, IRMAA can have a big impact on healthcare costs. 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,...

What are charitable remainder and charitable lead trusts? Charitable remainder and charitable lead trusts are special types of trusts into which you transfer assets, retain either a present or future economic benefit for yourself or...

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...

What does "coordination with government benefits" mean? In the context of long-term nursing home care, a number of governmental (and governmentally regulated) programs and tools exist to help you pay for this care. Medicare, Medicaid,...

The past two years presented many small-business owners with unprecedented challenges. This year’s tax planning preparations include necessary measures for small-business owners to satisfy existing, new and modified tax laws that...

If you or a loved one are approaching the point of needing elder care, you may be wondering what your options are. What level of care is right for your situation? How will you pay for care? What will happen when you need a more...

The statistics on longevity show that people are living longer and will likely need long-term care (LTC) at some point in their lives. The unknowns each of us faces are how many years we will need LTC and what it will cost. With the...

Sectors hit include air travel, insurance, oil production and entertainment The path to retirement can often seem daunting, with the end goal appearing distant and difficult to reach. This sentiment has only grown in recent years, as...

Key Differences and Why Your Money Mindset Matters  You often hear people discuss "saving for retirement,” but in many cases, they're actually referring to their investing. The adage "you can't save your way to wealth" is...

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

You may already be aware of the importance of having enough life insurance coverage to handle financial matters that could affect your family in the event of your death. However, determining the appropriate amount of coverage for your...

Do you wish that there was more time in a day? Do you want to have time to drink a cup of coffee in the morning, or get to the gym before or after work? Well, we can’t change how much time there is each day, but we can help you...

Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To...

Take control of your retirement planning with a defined contribution plan The 401(k) pension plan, named after that section of the Internal Revenue Service Code that created it, has become one of the most popular retirement plans in...

During turbulent financial times, having a financial emergency plan might provide you with a proverbial life preserver. Whether it is an emergency fund to help you tackle an unplanned expense, insurance to cover an unexpected accident...

As of 2017, about two-thirds of all nonprofit organizations in the U.S. had annual budgets of less than $1 million.[1] For these non-profit organizations where every penny has a purpose, having the services of a financial...

In the college savings game, all strategies aren't created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college. Tax-advantaged strategies are important because over time, you can...

The "Sandwich Generation" wakes up every morning with a lot on their plates. They not only have to provide support for themselves and their own children but also help to take care of aging parents. For many, this is both physically and...

Most portfolios are constructed based on an individual's investment objective, risk tolerance, & time horizon. However, as a retiree, how you choose to live in retirement may be an additional factor to consider when building your portfolio.

Both traditional and Roth IRAs can play a part in your retirement plans. And once you’ve figured out which will work better for you, only one task remains: open an account.

One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account.