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Estate and Financial Planning Considerations for LGBTQ+ Couples

From family squabbles to establishing legal parenthood, here are a few considerations when developing an estate plan with your significant other.

Retirement Benefits for Same-Sex Married Couples

As a legally married same-sex spouse, you'll want to be aware of several retirement plan rules that apply specifically to married individuals. 

The Gift of a Lifetime: How to Donate Life Insurance to Charity

The primary purpose of life insurance is to provide financial resources for those that depend on you when you die. However, you can lessen the complexity of charitable giving through wealth transfer by using life insurance.

Retirement Planning: The Ultimate Endless Summer Adventure

Here are some tips and tricks to help manage your retirement to have the goal of being carefree and relaxing as a child's summer vacation.

Why Work/Life Balance is Important While Pursuing Your Career

Since work is such an important part of your life, it is easy to become consumed by it and forget about other important things, such as your family and friends, which makes seeking work/life balance so essential.

The Triple Dangers of Inflation for Pre-Retirees

Preserve your financial well-being and work toward a confident retirement As the economic landscape continues to shift and evolve, one specter looms ominously over the horizon: inflation. For pre-retirees, individuals who are on the...

Five Smart Things to Do With Your Tax Refund

Having a plan can help you use your money wisely If you have a refund check coming your way, consider using it to bolster your personal balance sheet. According to the IRS, the average refund will be about $3,300, and many receive the...

Financial Planning for Working Moms

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances....

Navigating May's Stock Market Outlook

After a strong first quarter for stocks, some April showers rained down as the S&P 500 fell about 4% last month. Hopefully those showers will bring some flowers in May, despite the widely cited stock market adage, “Sell in May and go...

Ownership of Life Insurance: Estate Planning

What are the ownership issues of life insurance? In estate planning, life insurance is purchased for several reasons: (1) to provide cash to the insured's family for daily living expenses, (2) to provide cash for potential death taxes...

An Excellent First Quarter for Stocks - April Insights

The first quarter is in the books, and it was an excellent one for stocks. The S&P 500 index rode a resilient U.S. economy, easing inflation, rising corporate profits, and anticipation of summertime rate cuts from the Federal Reserve...

April is National Financial Literacy Month

April is National Financial Literacy Month – an entire month dedicated to underscoring the importance of learning, establishing and maintaining healthy financial habits.

Four Ways to Improve Your Financial Literacy

Read on for four tips and tricks that may significantly improve your financial literacy.

5 Ways to Improve Your Financial Awareness

Regardless of what you do or how much you earn, you deal with money on a daily basis. The more you understand about finances, the more effectively you will be able to manage yours.

Teaching Your Kids How to Avoid Learning Financial Responsibility the Hard Way

Do you remember how hard it was learning about finances by making mistakes? Don’t make your kids suffer through that like you had to. Here are seven tips you can teach your children, so they don’t have to learn the hard way.

How Women Can Optimize Their Gifting Strategies

Combining today's low gift tax rates with a historical peak in the lifetime gift tax exemption amount (currently $13.61 million), now could be a great time for women to pass along assets to family members and other loved ones.1 Giving...

Markets Warming Up - March Insights

As spring approaches, the weather is starting to warm up. For the stock market, the temperature has been rising for a while now. In fact, since December 2023, the S&P 500 has not experienced a pullback of even 2%. Strong starts to...

High Income, High Debt: 10 Ways High Earners Can Prevent a Credit Crisis

A personal credit crisis is something many people fear, as it can lead to financial ruin and burden an individual with immense debt. Fortunately, steps can be taken to avoid such a crisis, even for high earners who may seem financially...

Navigating Financial Success: Retirement Savings While Raising a Child with Development Disabilities

Being a high earner not rich yet (HENRY) may come with financial challenges. When coupled with the responsibility of raising a child with developmental disabilities, you might need thoughtful financial planning even more. Here are a...

2024 Tax Brackets: How They Could Increase Your Take-Home Pay

As people settle into the New Year, some may notice a slightly larger paycheck deposited into their account. The Internal Revenue Service (IRS) implemented new federal income tax brackets, allowing some Americans to keep more of their...

Solid Start to 2024 - February Market Insights

Stocks are off to a solid start in 2024. January gains are particularly enjoyable because of the old adage from the Stock Trader’s Almanac, “As goes January, so goes the year.” Nearly 75 years of historical data shows...

Making the Most of an Interest Rate Hike Pause: Financial Tips and Strategies

In times of market volatility, when inflation is increasing, the Federal Reserve will raise interest rates to help to cool the inflation spike. During this period, people are anxious and keep a tight grip on their wallets. In time, the...

Legacy of Love: 10 Questions to Help Families Prepare for a Wealth Transfer

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...

A Taxpayer’s Guide to Exemptions, Deductions, and Credits

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...

Retirement Plan Limits for 2024

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a...

January Insights: Important Lessons Learned from 2023

Stocks defied the skeptics in a very unpredictable 2023. The Dow Jones finished at an all-time record high on December 28, and the S&P 500 came within a whisker of a fresh all-time high after the index rallied more than 20% for the...

Your Financial Fresh Start: 12 Resolutions in 12 Months

Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to...

8 Financial Wellness Tips to Help Manage Generational Wealth

Asset management and financial wellness can help develop long-term confidence when wealth transfers from generation to generation. Understanding and implementing financial wellness techniques is essential for effectively sharing wealth...

7 Things You Can Do to Trim Your 2023 Tax Bill

Managing your tax liability can literally save you thousands of dollars Tax season can be a stressful time for many people, especially if you're not fully prepared. However, with some advance planning and preparation, you can take...

Determining A Personalized Inflation Rate

In the age of personalized medicine, tailored education, and customized diets, isn't it time we started considering a personalized approach to inflation? Inflation, as any economist will tell you, is the general rise in prices and the...

LPL Research Presents: Outlook 2024, A Turning Point

OVERVIEW In 2024, we believe markets will make a definitive turn to a more recognizable place. En route, the transition will be marked by meaningful shifts in a few key areas. Inflation is going down. The risk of a recession is...

Your Year-End Estate Planning Guide: An 8-Step Checklist

When it comes to your estate plan, you don’t just have it drafted and put away until it is time for your loved ones to manage your lifetime of affairs. As your world changes year by year, it is critical that you review your...

2024 Contribution Limits: What’s New?

Life today is expensive, and contributing to a retirement plan is more beneficial than ever. Recently, the IRS announced it was raising the contribution limit for 401(k)s to $23,000 for 2024, up from $22,500. In a world where pensions...

Creating Financial Resolutions as a Couple

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....

December Insights

A November to Remember Solid gains for both stocks and bonds gave investors a November to remember. As financial markets continue to defy skeptics, I’m reminded of a quote from Warren Buffett’s long-time partner and one of...

A 12 Days of Christmas Financial Planning Checklist

The Christmas season is an excellent time of the year to review your financial planning strategy. Our finances are top of mind as most of us are monitoring our spending as the holiday and new year approaches. We can look back over the...

November Insights: Offering Thanks

The penultimate month of the year is often a time to reflect and offer thanks. And while economic and geopolitical uncertainty can overshadow the positives, there are things to be thankful for. Here is just some of what we’re...

7 Estate Planning Topics to Discuss with the Family over Thanksgiving Dinner

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...

3 Tax Strategies to Consider at Year-End

With the year rapidly coming to a close, and the upcoming tax year looming with uncertainties, you should consider updating your tax strategy to best preserve your assets into the future. Don't wait to make these adjustments. Check out...

End of Year (EOY) Deadlines Checklist

For many of us, a new year is an opportunity for fresh starts and discovering the best versions of ourselves, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with that shiny...

Trusts and Year-End Planning: A Checklist

A trust is a legal vehicle that protects your assets and contains instructions for your assets when you die or become incapacitated. When you set up a trust, you transfer assets from your name into your trust's name while you still...

How To Navigate Global Geopolitical Events

Patience, knowledge, and strategic planning are keys to financial confidence In an interconnected world, global geopolitical events have an undeniable impact on financial markets. From political unrest to trade disputes and natural...

Financial Planning at Every Age

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....

Retirement Security Starts With Visualizing Your Future

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...

October Insights - Staying the Course

The S&P 500 lost 3.3% in the third quarter after sliding nearly 5% in September. Putting this into perspective, nothing really qualifies as out of the ordinary. Since 1950, the S&P 500 has historically declined in September 55% of the...

Investing vs. Saving: 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 simplistic, but has a kernel of truth; putting your money...

Jump-Starting the LTC Conversation

Talking about long term care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status, cognitive...

Navigating Market Setbacks - September Insight

Financial markets lived up to their reputation during the month of August, which has a record for being difficult. On the first day of August, markets had to contend with a downgrade of U.S. long-term debt by the rating agency, Fitch....

Using Trusts to Manage Wealth-What Investors Should Know

Whether you manage a trust for someone else, are the beneficiary of a trust, or are thinking of creating a trust, you probably have some questions about the "best practices" of trust management. A well-managed trust can help preserve...

Disconnect Between the Markets the Economy

Trying to reconcile recent market advances with not-so-good economic data U.S. stock markets continue to trend up as optimism returns to Wall Street while Main Street USA continues to struggle. For sure there is plenty of social unrest...

5 Tips for Navigating Medicare in Retirement

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare, which...

US Credit Rating Downgraded How Does that Impact Your Financial Decision-Making

For the second time in the nation’s history, the U.S. debt rating was downgraded by a rating agency, Fitch Ratings, from the highest rating, AAA (Exceptionally Strong), to AA+ (Very Strong). The last time this occurred was in...

August Market Insight: Staying Invested in a Tricky Market Environment

Making economic forecasts and stock market predictions can be humbling. It’s especially tough when you expect stocks to go higher and get a big drop instead. The environment today is the opposite, but still tricky, as recession...

What Causes Inflation and What to Do About It

A huge challenge is planning for your retirement savings to outpace inflation Some of us may remember the “good old days,” when gasoline prices were as low as 25¢ per gallon. Others may recall when a can of soda cost...

How Grandparents Can Help Grandchildren with College Costs

As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what's...

Teach Your Children Well: Basic Financial Education

Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children...

Elder Law or Estate Planning: Do You Know the Difference?

Nearly 56 million American adults are 65 or older, and the demand for community living and estate planning services may increase over the next few decades.1 Do you know what arrangements you need to make when the time comes? What are...

Mid-Year Outlook: The Path Towards Stability

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change. It’s a theme...

Generational Wealth and the Gift of Financial Freedom

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,...

The Importance of Financial Independence for Adults with Disabilities

Disabilities may make it challenging to secure a job or stay financially stable. Luckily, there are now more ways than ever for adults with disabilities to gain their financial independence. Here are some important reasons adults with...

Four Sandwich Generation Survival Tips

Members of the "sandwich generation"—those taking on the care of their aging parents while also raising children or financially supporting adult children—may feel stressed and overextended. Most current sandwich generation...

Stars, Stripes, and Stocks: 3 Ways Investors May Pursue Financial Freedom

What does the term "financial freedom" mean to you? For some, it means freedom from a particular workplace or industry. For others, it means the opportunity for an early retirement or the ability to start a long-desired business....

Goodbye Debt Ceiling Drama

Every so often Washington likes to remind us how hard it can be to get things accomplished. The most recent example is the debt ceiling...

5 Homeowner Estate Planning Tips to Consider

Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little...

Building Wealth in the LGBTQ+ Community and Closing the Generational Wealth Gap

Members of the LGBTQ+ community face a broad range of financial challenges that heterosexual people do not need to deal with—and often are not even aware of. The media often portrays the "typical" gay couple as a high-earning...

High Net-Worth Individuals: Are You Missing Opportunities in Your Financial Planning?

High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey. Often, they have missed opportunities in their financial planning because they haven’t planned...

3 Ways Planning For Retirement is Like Planning For Summer Break

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

529 Plans and Alternatives: Making an Educated Decision about Education Savings Options

Those that choose to invest in the education of a family member, friend or acquaintance are investing not only in that individual’s future, but also the future of society. It is an act of generosity, forward-thinking, and love....

3 Tips for Preserving Wealth in Your Golden

After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to...

The Financial Impact of Mental Health

Mental health is essential to everyone’s wellbeing. Mental health disorders, diagnosed or not, may be playing a role in your daily life. Often, financial problems or worries may impact your mental wellbeing, especially if...

Life Insurance: How Much Is Enough?

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...

5 Social Security Benefits You Might Be Missing Out On

Most people know that once they approach retirement age, their reward for years of work comes from Social Security payments they put money towards during their employment. Deciding when to file for your Social Security payments is...

6 Money Myths That Are Limiting Your Wealth

When people think of “myths,” they often think of such stories as Pandora’s Box (the woman who took the lid off of a jar releasing all of the world’s ills upon the world, were taxes one of them?), or the Tale of...

Spring Cleaning Your Investments

Everyone needs to clean-up their financial clutter at least once a year Spring is traditionally the time to clean the garage and to get the yard in shape. It’s also a great time to clean up your investment portfolio. Going into...

The Gender Investing Gap: How Do We Bridge It?

In the U.S., men are investing and accumulating wealth at a greater pace than women, fueling the gender investing gap. Closing the investing gap is essential so that women accumulate enough retirement assets for their entire lives. On...

10 Tips to Develop Financial Wellness This Year

Financial wellness is a state of being when one is in control of their finances, can cover expenses, and save for future goals. Consider financial wellness as your relationship with money; it can be either healthy or unhealthy....

HOW THE SECURE ACT 2.0 COULD CHANGE THE WAY YOU SAVE FOR RETIREMENT

The pending legislation for the proposed retirement reform, better known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0, is expected to be passed into law by the end of 2022. In March of this year, the...

Surprising Similarities Between Multigenerational Wealth and Jazz

Listening to John Coltrane or other favorite jazz musicians is like watching the leaves swirling through the city streets on an autumn day. The cedar and oaky smoke smell from a fireplace can spark a feeling of nostalgia that takes you...

Five Helpful Tools for Tax Prep

Tax preparation tools and products continue to evolve even more quickly than the federal tax code itself. Which tax prep tools are worth the hype, and which may be passed over? Below we discuss five high-tech tools to help make tax...

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...

FAMILY WEALTH TRANSFER PLANNING: KEEPING IT IN THE FAMILY THROUGH GENERATIONAL GIVING

What is family wealth, and how do you preserve it? You have worked hard for years and accumulated wealth. You earned this money through your job, investing, and saving, and you want to preserve it for yourself and to take care of...

Give the Gift of A LifeTime

If you ask someone their favorite part of the holiday season, giving or receiving gifts will likely be their response nine times out of ten. Gift-giving is a huge part of the holidays—it’s why there are entire days...

Outlook 2023: Finding Balance

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets...

The 12 Days of Year End Planning

THINGS TO CONSIDER GOING INTO “THE NEW YEAR" (YEAR-END PLANNING CHECKLIST) The end of the year is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved,...

Preparing for Year-End and the 2022/2023 Tax Season

Year-end is approaching and being prepared is the best way to make this tax season your easiest yet. Following are important information and tools to help you get ready. As always, meeting with us early and often will ensure your...

What the Mid-Terms Might Do to the Stock Market

The S&P 500 does best when one party controls Congress and the WH too The 2022 Midterm Elections will feature hundreds of hotly contested races at the state and local level and will decide whether the Democrats maintain...

A Year-End Wealth Planning Guide

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:1....

Understanding Long-Term Care Insurance

It's a fact: People today are living longer. Although that's good news, the odds of requiring some sort of long-term care increase as you get older. And as the costs of home care, nursing homes, and assisted living escalate, you...

How Much Life Insurance Do You Need?

Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs...

Six Potential 401(k) Rollover Pitfalls

You're about to receive a distribution from your 401(k) plan, and you're considering a rollover to a traditional IRA. While these transactions are normally straightforward and trouble-free, there are some pitfalls you'll want to avoid...

Inflation Reduction Act: What You Should Know

The Inflation Reduction Act includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate repurchases of stock.The Inflation Reduction Act, signed into law on August...

Moving Your 401(k) to a Roth IRA Tax-Free?

Question: I made after-tax contributions to my 401(k). When I retire, can I roll that money into a Roth IRA tax-free? Answer: Yes. After-tax funds can be segregated from other funds in the account and transferred directly to a Roth IRA.

The Health of Social Security - Some Good News and Some Bad News

With approximately 94% of American workers covered by Social Security and 65 million people currently receiving benefits, keeping Social Security healthy is a major concern.1 Social Security isn't in danger of going broke.

Can We Get a Goldilocks Scenario?

Broad-Based Job Gains Keep Recession AwayThe U.S. added 372,000 jobs in June, at just a slightly lower clip from May, while the unemployment rate remained unchanged at 3.6%. The participation rate dipped to 62.2% in June as individuals...

Midyear Outlook 2022: Navigating Turbulence

Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...

A Beginner’s Guide to Investing After Retirement

You may be retired and considering investing some of your retirement nest egg. Depending on your situation, it is crucial that investing in the stock market, bond market, or other investments does not jeopardize your retirement savings...

Five Lessons To Remember During Bear Markets

The Stock Market has been trying to teach these lessons forever….The real value of a bear market may be that it gives investors, who are temporarily frozen within its grip, the opportunity to learn or relearn important lessons...

As Stock Markets Peak, Check Your Emotions

Emotions often drive investors to make poor decisions and underperform.Dynamic investing and overall fitness can often come down to discipline (and planning). Why aren’t you reaping the investment returns you read about in the...

Tips for Navigating a Volatile Retirement

Retirement is the time in your life when you want to sit back, relax, and enjoy the fruits of years of hard work. But unfortunately, when the market is volatile, it may bring additional anxiety and stress. The good news is, a volatile...

5 Types of Retirement Plans for Small Business Owners

Small business owners are different from the average hourly employee in a lot of ways. One often-overlooked difference is how they plan for retirement. Although small business owners may offer a classic 401(k) for their workers along...

The Facts about Social Security Retirement Benefits

Social Security Retirement benefits are one thing that people know of, but often what they know isn't always accurate. First, the Social Security Trust Fund was created in 1939 as part of Old Age and Survivors Insurance by the...

Preserve Your Retirement Savings with LTCi

If you are part of the baby boomer generation (born between 1944 and 1964), you may already know how important it can be to save for your retirement. Little remains of the security our parents may have enjoyed through company pensions....

Asset Allocation

Asset allocation is a common strategy that you can use to construct an investment portfolio. Asset allocation isn't about picking individual securities. Instead, you focus on broad categories of investments, mixing them together in the...

What You Should Know About Contributing To An IRA At Every Age

A traditional IRA offers a great way to shield income from taxation while boosting your retirement accounts. Meanwhile, a Roth IRA can let you pay tomorrow's taxes today. But how can workers who are eligible to contribute to either...

Planning Your Distributions After Retirement

When it comes to retirement planning, much ado is made of how much to save. But often, the real difference lies in shrewd distribution planning. By withdrawing funds from certain account types in a certain order, you might...

2021/2022 Tax Season at a Glance

Key Benefits of a Financial Advisor

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...

Retirement Contribution Limit Changes for 2022

With inflation on the rise, the IRS increased the 2022 contribution limits for some retirement accounts. Although a 2021 Congressional report found that only about 8.5% of defined benefit plan participants and 4.7% of individual...

Five New Year's Resolutions for Those Nearing Retirement

Four New Year's Resolutions for Current Retirees