In March 2021, Senator Bernie Sanders (VT) sponsored a new bill called the “For the 99.5% Act” proposing new and revised estate, gift, and tax rates aimed at the wealthiest 0.5% of Americans.1 The bill is complex, but we’ve attempted to anticipate your questions and cover the most meaningful points here. Question 1: Who will be affected? (or “Who are the …

Understanding the contribution, age, and income rules in 2021 Currently, there are two popular Individual Retirement Accounts (IRAs) vying for your attention: the traditional IRA and the Roth IRA. While both are long-term savings vehicles with tax benefits, each has different rules concerning contributions, age, and income that may change from one year to the next. Contributions Perhaps the biggest …

Setting healthy financial goals is critical. Even more important is staying committed to those financial goals. Keeping yourself committed to your goals may be difficult, especially when times may be financially tough. But by staying on track and focused on your goals, you are more likely to get the long-term outcome you seek. Below are a few simple tips that …

If you’re a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans. We’ve outlined five key differences for your consideration: 1. Diversifying outside your own industry Small business owners often develop a tendency to …

Buying a life insurance policy is something that many people push off, sometimes until it is too late. For many people, the thought of buying life insurance means thinking about their death, which is something that most people wish to avoid. Life insurance is not about death, but instead about the future and security of your loved ones. If you …

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 …

As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do to maintain health insurance after I retire? The answers to these questions can vary widely …

When you’re first starting out with your own business, you’re likely to be focused more on staying afloat than on contingency planning. But as your family business expands and grows, it’s important to ensure that this is done in a sustainable way. Read on for some tips and tricks to consider to grow—and preserve—your family business. Identify and Manage Business …

When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great Barrier Reef. Bucket list items are the things one plans to do their entire life once they have the …