Blog

IRS Increases 401(k) Limit By Record Amounts

By | December 01, 2022

As inflation soars, you can now save a lot more for your retirement. On October 21st, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from...

5 Key Steps To Help Women Strengthen Their Business and Their Retirement

By | November 18, 2022

As a female entrepreneur, you may face different challenges than your male counterparts. For example, women were disproportionately affected by the COVID pandemic. 1 They also tend to earn less than their male peers—largely in part because they are still responsible for...

Caring for Your Aging Parents

By | November 10, 2022

WHAT IS IT? Caring for your aging parents is something you hope you can handle when the time comes, but something you probably hope you never have to do. Caring for your aging parents means helping them plan for the...

Appropriate Checklists for Year-End Tax Planning

By | November 04, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different categories, such as "Filing Status" or "Employee Matters," for...

Your Long Term Care Action Plan: A Step-by-Step Guide

By | October 24, 2022

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 —...

How to Protect Your Small Business from Cyber Threats

By | October 20, 2022

In addition to visiting the SBA cybersecurity website, business owners might want to review "Protecting Personal Information: A Guide for Business" and "Start with Security: A Guide for Business," both available on the FTC website. Risk management is a key component in any...

Everything You Need to Know About Medicare Savings Programs

By | October 14, 2022

The terms Medicare and Medicaid are similar sounding names; however, these programs serve very different needs. Medicare is a health insurance benefit program for those aged 65 and older and others with certain disabilities. Medicare has no income or asset...

Better Times Ahead

By | September 28, 2022

In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates, and we thought it was an important time to take stock with the final quarter of 2022...

The Ultimate Juggling Act: 4 Ways to Save for College and Retirement

By | September 26, 2022

With the average price for private college tuition and fees hitting $43,750 for the 2021-2022 school year and public college attendees paying more than $28,000 per year, many parents are nervously anticipating what will happen after their child graduates high...

Making Decisions About Medicare

By | September 20, 2022

This is a general overview of Medicare coverage. For more information, visit medicare.gov. You can also get free, personalized help from a trained counselor by contacting your State Health Insurance Assistance Program (SHIP). Your SHIP counselor can help you review your...

All You Need To Know About Eldercare Arrangements

By | September 15, 2022

It’s never too early to think about how and where you want to live when you’re older. How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time...

Worst Day For Stocks Since June 2020 But What Happens Next?

By | September 14, 2022

Tuesday (September 13th) turned out to be a very bad day for global stocks, as a hotter-than-expected US inflation report spooked market participants. The CPI report pushed back on some of the peak inflation narratives and all but confirmed that...

Life Insurance at Various Life Stages

By | September 01, 2022

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities once again...

Women and Money: Taking Control of Your Finances

By | August 26, 2022

It's important to have a clear understanding of your overall financial position. As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to...

Seniors and Debt: Getting Back on Track after a Post-Retirement Financial Setback

By | August 20, 2022

You may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free retirement is not the reality for some. Challenges from stock market drops, home repair issues, or...

The Different Stages of Financial Freedom

By | August 14, 2022

If you're living paycheck-to-paycheck or stuck in a job you don't love just to pay the bills, it can be easy to feel as though you're financially trapped. But financial freedom doesn't need to be elusive—with some focused and consistent...

Some Things Investors Need to Know About Booms and Busts

By | August 11, 2022

Economies and markets are cyclical. They may include periods of wealth creation and times of bursting bubbles that bankrupt companies in a major downturn. "Boom and bust" cycles may last anywhere from a few months to a few years or...

Big Week for Market Watchers

By | August 03, 2022

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of Washington D.C.,...

Tips to Avoid Common Estate Planning Mistakes

By | August 03, 2022

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 of these...

What Causes Inflation and What to Do About It

By | July 29, 2022

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 15¢. But prices tend to rise over time – sometimes steadily and...

A Financial Planning Guide for Families with Disabilities

By | July 26, 2022

About 61 million adults in the U.S. live with a disability. Many of these disabilities are serious enough to impact a person’s daily life.1 There may be financial benefits available to those whose disabilities leave them unable to hold down...

Top 5 Things Millennials Should Consider When Retirement Planning

By | July 21, 2022

Planning for retirement can seem premature when you have only been in the workforce for a decade or so. But as the oldest Millennials begin to hit middle age, retirement suddenly does not seem so far away. From record-busting market...

LPL Financial Research Midyear Outlook 2022: Navigating Turbulence

By | July 12, 2022

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...

Looking Forward

By | July 06, 2022

As the calendar has turned to July, investors would certainly like to forget the first six months of 2022. However, the Fourth of July Independence Day holiday does bring with it a reason for celebration. Not only is it the...

5 Life Events That Impact Your Life Insurance Needs

By | June 28, 2022

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...

Charitable Gifting

By | June 15, 2022

What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count....

A Bear Market is Officially Here

By | June 14, 2022

A bear market is officially here thanks largely to stubbornly high inflation. For many of us, it has probably felt like a bear market for a while now, but the S&P 500 Index didn’t close more than 20% below its...

Financial Aid Resources for Your Incoming Freshman

By | June 03, 2022

College is expensive for many people. The average tuition and fees at a college or university for the 2019 to 2020 academic year at a four-year institution was $9,4001. This may include the cost of tuition, books, and housing. For...

4 Economic Benefits of Homeownership

By | June 03, 2022

Even though housing prices throughout much of the U.S. are at or near all-time highs, there are still many distinct financial advantages to owning a home.1 From tax benefits to capital gains exclusions and guaranteed rates of return, we explore...

Bull Market Hangs by a Thread

By | June 01, 2022

The bull market that began in March of 2020 came dangerously close to an end. From March 23, 2020 through January 3, 2022, the S&P 500 Index gained 114% (excluding dividends). From that January 3 closing high through the recent...

4 Key Investments You Should Consider as a Small-Business Owner

By | May 19, 2022

As a small-business owner, you may be looking for the next big thing—an investment that might double your profits within the next year or allow you to maintain your income while working just a few hours a week. However, business...

Military Benefits

By | May 10, 2022

What is it? As a current member or veteran of the U.S. armed forces, you may be entitled to a number of military benefits. The term benefits, as used here, includes military pay as well as other programs set up...

By | May 06, 2022

As we move into spring and leave behind the last signs of a long winter, many worries from a chilly start to the year for markets, unfortunately, are still with us. The S&P 500 Index had its worst April in...

Life Insurance: Back to the Basics

By | May 02, 2022

As you consider the wide range of life insurance coverage available, you may wonder what type really fits your needs now, and what will suit your needs in the future. A good, first step is to ask yourself why you...

An Attractive Entry Point

By | April 28, 2022

It has been a turbulent 2022 so far for investors. The S&P 500 Index is on track for its worst April in more than 40 years, the Nasdaq entered a bear market on April 26 with its more than 20%...

7 Retirement Considerations

By | April 26, 2022

Thoughts from a financial professional When helping people get ready for retirement, financial professionals find the same issues come up over and over. Thinking ahead can spell the difference between a retirement with enough money and a stressful one with...

Invest in Your Financial Education During Financial Literacy Month

By | April 14, 2022

April brings more than possible rain showers. It also marks Financial Literacy Month in the U.S. Whether you’re interested in a quick refresher or seeking to learn something new, it may be worth the effort to brush up on some...

What to Expect on Your 2021 Tax Return

By | March 31, 2022

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...

Tips You Can Use for the Credit Card Blues

By | March 24, 2022

Credit card debt is a major problem in the United States. According to the Bureau of Consumer Financial Protection, over 175 million Americans have at least one credit card. In addition, the Federal Reserve Bank of New York estimates that...

Protect Financial Information from Prying Eyes on the Web

By | March 10, 2022

As more and more consumers search for financial information on the Internet, they may inadvertently leave themselves open to being “tracked” by certain companies and individuals. Visitors to financial websites have created a large mass of information that is, in...

Navigating Geopolitical Tensions

By | March 03, 2022

The green shoots are hard to see right now as spring approaches, clouded by war in Ukraine. Democracy is under attack and innocent lives are tragically being lost. But while we keep one eye on overseas developments, the other remains...

What You Should Know About Contributing to an IRA at Every Age

By | February 23, 2022

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 type...

Home-Health-Care Factors for You to Consider

By | February 18, 2022

Tips for finding the best fit in caregivers to ensure quality care and comfort Are you thinking about home health care as a solution to providing help with daily activities such as bathing, meal preparation, and housekeeping? Many older individuals...

Stocks’ Road Ahead

By | February 17, 2022

The calendar had barely flipped to 2022 and investors were reminded that even attractive long-term stock returns come with a cost: volatility. The S&P 500 Index fell nearly 10% from January 3 through January 27 amid fears that the Federal...

What Can the Best/Worst Stocks of 2021 Tell Us?

By | February 03, 2022

Looking for longer-term market trends that might shape the next few years Let’s be honest for a second: the DJIA, the S&P 500, NASDAQ, and the Russell 2000 all delivered one of the most surprising years in recent history. And...

Suggestions for Staying Safe Online from the IRS

By | February 01, 2022

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 fight identity theft and tax...

Pay Down Debt or Save for Retirement?

By | January 19, 2022

You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people,...

Focusing on Your Finances

By | January 13, 2022

While most people find the notion of creating a budget about as appealing as cleaning out closets, most would agree that the result—a well-crafted and useful budget—is worth the work   Two financial “snapshots” you can take at any time...

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

By | January 04, 2022

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...

Focus on Your Wellness This Holiday Season

By | December 22, 2021

The holidays are prime time for eating delicious food, celebrating with loved ones, and creating long-lasting memories. However, all this cheer can be both physically and mentally draining. That’s why it is essential to focus on your wellness during the...

LPL Financial Research Outlook 2022: Passing the Baton

By | December 20, 2021

LPL Research Outlook 2022: Passing the Baton is designed to provide insight and analysis for the next set of challenges the economy and markets may face. While the economy continues to move forward, we’re still feeling some aftershocks of COVID-19...

What To Know About Potential Tax Changes in 2022

By | December 15, 2021

Though the final price tag of the Biden administration's infrastructure plan is not absolute, it may increase federal spending by about $3.5 trillion over the next decade.1 President Biden and his administration proposed changes to the tax laws to provide...

Holiday Resilience

By | December 15, 2021

While life has been challenging during the pandemic, we have a lot to be thankful for. At this time, we are especially grateful for COVID-19 vaccines and treatments that have helped us make so much progress tackling the pandemic. Unfortunately,...

Things to Consider When Writing a Business Plan

By | December 08, 2021

You may know that your small business needs a written business plan—but how do you get started? What elements should your plan address, and do you need different plans for different audiences? Below we discuss a few of the key...

Christmas Shopping Lessons for Investors

By | December 01, 2021

Is that investment an innovation or an improvement on an existing product? As Christmas sales loom, we face an endless array of sparkly, shiny and occasionally innovative items. As an investor, you run into a similar phenomenon that requires you...

4 Year-End Tax Planning Tips for Small-Business Owners

By | November 23, 2021

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 may help small-business owners manage 2021 tax liabilities. Taking...

10 Best Financial Benefits for Military Families

By | November 10, 2021

Members of the military have a lot of special financial challenges that most people don't encounter. However, they have access to many benefits, tax breaks, and legal protections that can make a huge difference in their families' personal finances. Here...

What You Need to Know About Financial Fraud

By | November 09, 2021

Many of us grew up in a world where it was customary to be friendly, courteous, and trusting. Unfortunately, assumptions concerning these standards of conduct can sometimes get us into trouble. Con artists offering a variety of too-good-to-be-true investment “deals”...

Consider the Value of Long-term Care Insurance

By | November 04, 2021

How can you cover the costs of future care for you and your loved ones? Individuals who have worked hard and built up assets over the course of their careers may be particularly concerned that their savings could be affected...

A Helpful Guide to the Affordable Care Act

By | November 01, 2021

If you're part of the one in three Americans who are uninsured or don't have access to an employer-sponsored healthcare plan, the Affordable Care Act (ACA) may be able to help. The ACA allows you to buy health insurance on a...

Data breaches are inevitable – here’s how to protect yourself anyway

By | October 25, 2021

It’s tempting to give up on data security altogether, with all the billions of pieces of personal data – Social Security numbers, credit cards, home addresses, phone numbers, passwords and much more – breached and stolen in recent years. But...

Estate Planning for Everyone

By | October 18, 2021

Have you ever 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...

Put Yourself in Front of the Savings Game

By | October 11, 2021

Like dieting, budgeting your expenses can benefit from a long-term commitment. However, human nature leads many of us to become frustrated when we can’t immediately have the things we need or want. As a result, the best-laid budgeting plans can...

Wellness Trends that are Here to Stay

By | October 04, 2021

A lot of trends in the health and wellness space leave you scratching your head, saying “Huh?” but there are some that are worth a deep dive. Bone broth Not everyone wants soup made with heavy cream, meat, and veggies, which...

Everything You Need to Know about the FAFSA for 2021

By | October 01, 2021

One of the most important pieces of the college financing puzzle is the Free Application for Federal Student Aid (FAFSA). Without the FAFSA, a college student is unlikely to be able to apply for or receive certain types of federal...

Fall Into a Healthy Routine

By | September 23, 2021

Fall is in full swing, and for most families, so is a return to the school year routine. But for some kids, adjusting back to this schedule can be stressful—and can take a little longer than you’d like to find...

Four Financial Planning Essentials to Ease Your Retirement Fears

By | September 16, 2021

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, with changing regulations, ups and downs in the market, and disagreements – even among the...

Four Tips for Gaining Financial Independence

By | September 09, 2021

Over the past July 4th, we celebrated our country’s history of declaring independence and guaranteeing basic human freedoms. But true freedom includes financial independence, as well. Self-sufficiency isn’t guaranteed, but every one of us has the opportunity to achieve it....

Life Insurance: Protection for All Life’s Stages

By | September 01, 2021

As your life changes, your financial needs often change, as well. Regardless of whether you are just starting out in life, are in mid-career, or are at the peak of your earning years, life insurance can help you achieve a...

Think Your New House is a Fantastic Investment?

By | August 24, 2021

Housing is rarely the best use of your money from an investment viewpoint Despite continued low mortgage rates and tales of bidding wars, multiple offers and all-cash closings above asking-price, would-be-home-purchasers should consider being cautious about putting too much money...

Inheritance Planning Can Help Avoid Headaches

By | August 19, 2021

Your financial professional can help ensure you leave your estate in the best possible way Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior far...

Six Months and Counting

By | August 11, 2021

Dear Clients and Friends, Six months and counting. That is the current monthly winning streak for the S&P 500 Index. To take that a step further, this key equity benchmark has posted gains in 13 of the last 16 months—dating...

Taxpayer Appreciation Day—Recognizing Taxpayers’ Contributions

By | August 07, 2021

Though U.S. taxpayers received an extra month to file and pay their federal income taxes in 2021, some are still smarting from having to write a check to the IRS.[1] For many, it can be tough to make the connection between...

Changes to Student Loans and Payments in 2021

By | August 05, 2021

The student loan landscape has changed dramatically since the beginning of the COVID-19 pandemic. From the suspension of interest payments on federal student loans to tax incentives for employers who pay their employees' student loans, there are a number of...

Five Divorce Settlement Pitfalls to Watch Out for, No Matter How Big the Estate

By | July 28, 2021

Bill and Melinda Gates and Settling $140 Billion estate Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often...

How to Teach Your Children Financial Wellness

By | July 21, 2021

Teaching children about financial wellness should start at an early age. Learning how making money, saving, and spending is related and the first step in teaching your child how to understand the value of money. Children learn from parents, mentors,...

Do You Have FOMO When it Comes to Investing?

By | July 15, 2021

Fear-of-missing-out is a very real emotion – but it can derail your portfolio Every day we’re bombarded with reports of what’s hot and what’s not – fueling a fear-of-missing-out (FOMO) on some great investment opportunity. Heck, there is even a...

LPL Financial Research Midyear Outlook 2021: Picking Up Speed

By | July 14, 2021

LPL Research Midyear Outlook 2021: Picking Up Speed is designed to help you navigate the risks and opportunities over the rest of 2021 and beyond. While the speed can be exhilarating as economic growth accelerates, it can also be dangerous....

The Best Money-Saving Travel Tips for 2021

By | July 08, 2021

If 2020 made you fantasize about a trip as soon as travel restrictions were lifted—and you’re still waiting—you aren’t alone. Although 2021 was poised to be a comeback year, it is shaping up to be another summer of staycations or...

Helping Young Adults Understand Insurance

By | June 28, 2021

Insurance should be part of everyone’s plan – and it should evolve too Young adults starting out in life, especially newlyweds, need insurance. But what kind? As a start, a good term life policy likely is a smart move. Other...

Your Retirement Portfolio: Five Things to Consider Before Market Turbulence

By | June 15, 2021

It is human nature to seek advice when things aren't going well or when an unforeseen event occurs. Often, people seek financial advice from a professional only when the stock market and their investments are experiencing turbulent times. Reactive decisions...

Gearing Up For Summer

By Admin | June 07, 2021

As we move into June, a path to normalcy is coming quickly with stadiums allowing full capacity, restaurants filling up, and summer vacations in full swing. Meanwhile, the U.S. economy continues to recover remarkably quickly and the stock market is...

2021 is the Year to be Money Savvy

By Admin | June 07, 2021

Definition of Savvy: having or showing perception, comprehension, or shrewdness, especially in practical matters. Money Savvy: smart with money, money-wise, financially astute, shrewd. If you started saving for retirement at an early age, chances are you’ll hit your retirement goal. However, if...

Maintaining the Investment You Made in Your Home

By Admin | June 03, 2021

For many Americans, the home is the single biggest purchase made during their lifetime.[1] As a result, it's important to do everything possible to keep it in good condition. Even moderate or short-term neglect can be dangerous, as small problems can...

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