Protecting and Passing Down Your Financial Legacy
When it comes to passing on your wealth to your family, it is important to know the best ways to manage the process. An estimated 90% of wealthy families lose their wealth by the third generation, so if you are planning on leaving behind assets to your family, knowing the unique risks to the affluent investor and considering strategies to [...]
4 Tips for Proper Tax Filing
With the new year in full swing, tax season is just around the corner. Filing federal income taxes can be a long and complicated process, and mistakes are bound to happen here and there. As many of us know, these small mistakes can cost you big in tax returns and penalties. That's why it never hurts to brush up on [...]
Don’t Forget the Tried-and-True Value of Compounding Interest
If you forgot what compounding interest was, let’s refresh. Compounding interest is the process by which the interest earned on an investment is reinvested so that the initial investment grows over time. It may not seem like it, but compounding returns is a powerful tool that can significantly increase the value of an investment over the long term, making it [...]
Let’s Talk Social Security
For most, Social Security provides a solid foundation for retirement income. In fact, as of September 2022, over 70 million Americans were collecting benefits.[1] However, not everyone knows exactly how or when to start tapping into this resource. As you grow older and retirement looms on the horizon, the decisions you make start to have a more crucial impact on [...]
Be the Financial Compass for Future Generations
Building towards retirement, you have made many financial decisions. Perhaps you maxed out your credit card on clothes in your early 20s or chose the wrong payment plan for your car loan or home mortgage. Regardless, you’ve navigated many financial obstacles and gained wisdom that can now be passed on to your kids and grandchildren. Although money can be a [...]
2 Ways the 2022 Economic Woes Affected Your Retirement Accounts
The 2022 economic climate has been bumpy for most and, in some cases, even bumpier for retirees. Americans and the world at large dealt with the economic ramifications of the Russia-Ukraine war, post-pandemic industrial effects, and rising inflation and interest rates. As the year ends, it's important to understand how these economic factors may have affected your finances as a [...]
Turning 59.5? Here are the Factors to Consider
Approaching 60 is an exciting time. Not only does it come with more wisdom and thrill for a new chapter of life, but it also presents important financial decisions that can affect your life in retirement. If you are turning 59.5 this year, you will become eligible to withdraw from your retirement accounts without penalty. This birthday, and possibly 3 [...]
What You Need to Know About the State of the Crypto Industry
2022 was a reckoning for the crypto industry. Cryptocurrencies deemed stable collapsed while proof of overly risky, shady, and even fraudulent practices emerged among some of the most established crypto companies. Instead of getting into the weeds of what the technology of crypto is or the genesis behind its creation, it’s more important to understand what is happening in the [...]
