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May 27, 2022

Planning For Unexpected Costs Before You Retire

Your retirement planning needs to incorporate more than just investments. 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. If you’re close to joining the other side of 50, you have probably noticed already that patterns are ...

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May 27, 2022

Fatherly Advice: 7 Timeless Financial Tips Our Fathers Taught Us

Although many things have changed in the financial world over the past 20 years, some nuggets of financial advice are timeless. Here are a few tips that have remained constant for several generations. Always Spend Less Than You Make Wealth creation is not about how much you earn. It is about how much you save.1 Spending more than you make ...

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May 27, 2022

QCDs: Donating and Gift Giving Through Your IRA

A qualified charitable distribution, or QCD, allows you to distribute funds from your IRA to an eligible charity (a 501(c)(3) organization) as long as you’re 70 1/2 years of age or older. Since the gift will go directly to the charity, you can exclude the dollar amount of the gift from your taxable income up to $100,000 each year. However, ...

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May 27, 2022

High Inflation – How Long Will It Last?

In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981.1 It's not surprising that a Gallup poll at the end of March found that one out of six Americans considers inflation to be the most important problem facing the ...

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April 27, 2022

Tax-Advantaged 529 Accounts: What families need to consider

According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for a school year was $9,970 for in-state students and $25,620 for out-of-state students. The average cost of a private university was much higher at $34,740. Thankfully, much like tax-advantaged accounts designed to help us save for ...

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April 27, 2022

Navigating Market Volatility–or Not

Market volatility could spook even the most seasoned investor. If a precipitous week or two in the market has you ready to sell, you may want to reconsider your risk tolerance and asset allocation. Attempting to time the market by selling during a drop could often mean missing the prime point of re-entry—selling low and buying high or selling low ...

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April 27, 2022

Tax Planning and Financial Planning Go Hand in Hand

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 time to create your first one.1 Creating a financial plan from scratch may seem like an ...

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April 27, 2022

6 Mental Health Tips for Investors

Investing is stressful. It takes sound mental decisions to weather the ups and downs that come with the markets and investing in general. Whether you are managing your financial portfolio or making investments on the side, staying mentally healthy may assist with good decision-making. Below are a few simple mental health tips to help investors remain centered. 1. Visualize the Results ...

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March 29, 2022

How To Measure Your Portfolio in Uncertain Times

Making sure your investments help you work towards your true life goals Too often during uncertain times, we inadvertently compare ourselves to the people around us – and that may lead us to make financial mistakes. In his book Predictably Irrational: The Hidden Forces That Shape Our Decisions, Dan Ariely remarks, “We don’t have an internal value meter that tells ...

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March 29, 2022

Is the Early 2022 Market Déjà vu All Over Again?

A few pointers to help avoid a double-drubbing this time Stoicism amid market turmoil comes hard when a tsunami of dire investment headlines and plunging prices hits you, as we’ve seen for the first 2+ months of 2022. Your financial future rides on Wall Street. What should you do? It is Déjà vu All Over Again? Let’s look at recent ...

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March 29, 2022

Myths and Facts About Social Security

Myth: Social Security will provide most of the income you need in retirement. Fact: It's likely that Social Security will provide a smaller portion of retirement income than you expect. There's no doubt about it — Social Security is an important source of retirement income for most Americans. According to the Social Security Administration (SSA), nearly nine out of ten ...

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March 29, 2022

There’s Still Time to Contribute to an IRA for 2021

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2021. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2021 ($7,000 if you were age 50 or older on or before December 31, 2021). For most taxpayers, the contribution deadline for 2021 ...

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March 1, 2022

How to Spring Clean Your Finances with a Financial Review

Spring cleaning presents a great opportunity to clear out any items you no longer need—and the same goes for your finances. Checking in with your finances during tax season may be particularly beneficial, as it allows you to complete last year's taxes while making any changes you need to potentially improve next year's tax situation. Below, we discuss what's included ...

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March 1, 2022

Luck of the Investor

As Samuel Goldwyn once said, "The harder I work…the luckier I get!" 1 But when it comes to investing, luck may play a huge role in outcomes—no matter how hard you work.2 Below, we discuss some ways that luck may impact your investing, as well as some steps you may wish to take to try to make your own good luck this ...

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March 1, 2022

How Does an Interest Rate Hike Impact Investors?

The Federal Reserve plans to unwind its bond borrowing since inflation has hit the highest level since 1980. While interest rates will stay near zero, for now, the Fed will start raising interest rates as early as March 2022. With a strong labor market and December 2021's inflation rate near 7%, the target range for the Federal Funds Rate will ...

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March 1, 2022

What to Expect on Your 2021 Tax Return

The federal government's response to the COVID-19 pandemic continues to impact individual income tax returns, from the suspension of federal student loan interest to expanded child tax credits. For many taxpayers, this may mean your 2021 return may look a bit different from last year's tax return. For some, this may mean a smaller refund or a higher tax rate. ...

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February 14, 2022

2021/2022 Tax Season at a Glance

Get all the important information you need for the 2021/2022 tax season all in one place with our Tax Season at a Glance Guide. Click to download: 2021-2022 Tax Season at a Glance

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January 31, 2022

6 Wallet-Friendly Ways to Celebrate America Saves Week

Monday, February 28th, kicks off America Saves Week this year. The week is dedicated to bringing awareness and encouraging people to look at and make progress on their savings. By taking a proactive stance, more people may realize how simple it is to get started saving and may better plan for their future. Looking for ways to celebrate America Saves ...

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January 31, 2022

Estate Planning Challenges for Unmarried Couples

It seems that state and federal laws governing estate planning may be running behind the growing trend of couples living together outside of marriage. For these unmarried partners, more creative estate planning strategies could be the key to counteracting restrictions imposed by laws that favor legally married couples. This article offers an overview of some issues regarding the disposition of ...

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January 31, 2022

4 Ways to Be Your Own Financial Valentine

Whether you're single, paired, or somewhere in between, Valentine's Day may present the perfect opportunity to show your bank account some love. Below are four tips and tricks to set you on the path toward becoming your own financial valentine. Be a Goal-Getter If it's been a while since you've set any financial goals for yourself, now may be the ...

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January 31, 2022

Understanding the Estate Planning Process

It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is tax planning, which can be done “later.” They may well be wrong on both counts. Your level ...

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January 18, 2022

Here’s How to Turn Your Hobbies into Cash

Hobbies are important to a work-life balance. They are an outlet to express yourself, de-stress, and dream. However, they can also lead to extra income and personal reward. If you’re considering turning a hobby into a side-hustle, read this guide to prepare properly. Side-hustles are a secondary job for supplementary income. This means a primary job still takes precedence as ...

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January 15, 2022

Why Is Home Buying a Key Personal Investment?

It is considered a truism that owning a home is a better financial option than renting. After all, the logic goes, why should you pay your landlord’s mortgage when you can pay your own? Intuitively, it feels true, but how true is it—and how do we really know? The value of homeownership is two-fold, including both financial benefits and intangible ...

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January 10, 2022

Estate Planning for Everyone

Have you every 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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January 3, 2022

Tax Prep Checklist: Everything You Need to Be Ready for Tax Season

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. Your Personal Information The personal information you may need to file taxes may ...

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January 3, 2022

Five Wealth-Building New Year’s Resolutions

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. Review Subscription Services The number of people who have cut the cord of ...

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December 20, 2021

New Year, New Goals: Your Countdown to Financial Health

For many people, a new year provides a new start—and nothing says "new start" like a fresh new set of financial goals. But setting these goals is easier said than done. What steps should you take to get the most bang for your buck over the next year? Below we discuss three New Year's resolutions that may help you get ...

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December 9, 2021

Couples and Charitable Giving

Most couples still make decisions together when they give money to charity – but it’s becoming less common The big idea While most U.S. couples make charitable giving decisions together, the share of joint decision-makers is declining, according to a study we published March 16. About 62% of couples decide about their giving together, down from 73% in 2005, the ...

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December 6, 2021

8 Tips to Stay on Track with Your Holiday Budgeting

It’s hard to believe we are already approaching the end of another. Since holiday spending doesn’t include just gifting, it’s essential to set your budget now. You may likely find yourself spending extra on food, decorations, holiday travel, and more. According to a forecast from Deloitte, U.S. consumers will spend up to 9% more this holiday period compared to 2020. ...

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November 30, 2021

Writing a Business Plan for a Small Business

Running a business without a written business plan is like heading out on a cross-country trip without a map or GPS. Although you may be able to make it to your destination, you may spend far more time and money navigating through unexpected complications than you would if you had a guide. Many lenders require a copy of your business ...

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November 25, 2021

Thanks and Giving: How You Make a Difference on Giving Tuesday

Giving Tuesday is a day to extend the goodwill that the holiday season may bring to help others. With so many in need, the holiday season is a reminder to help those less fortunate. Whether you want to donate your time or contribute funds to your favorite cause, there are many ways to celebrate the day. Here are some ways ...

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November 24, 2021

Carving Out Time to Support Small Business Saturday

American Express created Small Business Saturday in 2010 to provide small businesses with a holiday season boost on the heels of Black Friday. The day comes after one of the biggest shopping sales events and serves as a reminder to spend some of your holiday funds with local shops. Those shops may on your support to stay in business. Check ...

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November 14, 2021

Business Loans to Children: What Parents Should Know

Have you ever considered bankrolling your adult child’s business? Many young entrepreneurs seek parental assistance in launching their companies, especially if they encounter difficulty securing bank loans due to a lack of credit history or collateral. And, on their part, many parents want to help their children succeed in starting independent businesses. Although many parent-child loans go smoothly, if a ...

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November 4, 2021

Many Reasons to be Thankful

The past year and a half have tested all of us, but overall, the economy continues to strengthen, COVID-19 trends are greatly improving, and this still relatively young bull market is alive and well. As the leaves turn colors and begin to fall to the ground, there are many reasons to be thankful. The economy slowed considerably in the third ...

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November 3, 2021

Can You Spot the Scam? Common Financial Fraud Warning Signs

Many people are familiar with the scammers who promise to pay millions of dollars in exchange for briefly holding funds in your bank account or those who offer to enhance certain body parts risk-free. Today's scammers are clever at making their offers seem legitimate. How can you spot scams before they happen? We discuss the five biggest red flags of ...

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