Are you making charitable donations at year’s end? If so, you should know about some of the financial “fine print” involved,...

While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS)...

Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. And Roth IRAs, created as part of the Taxpayer...

The novel coronavirus pandemic has had an economic toll that has affected tens of millions of people. Everyone has felt the impact in some form or...

Pension and life insurance companies are reporting a major up tick and demand for fixed term annuities since the coronavirus outbreak started, with the number of applications almost 4...

You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment,...

We all love our children. And if we are blessed with a legacy to leave behind we all want them to enjoy it. 

But...

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the...

Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money.

In 2017, as in recent years, Americans spent more on taxes than...

According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP),...

One reality of life is that risk is ever present. It exists in our commute to work, in our investment choices, and...

Taking withdrawals from a traditional portfolio exposes fixed-income investors to “sequence of returns” danger. In other words, experiencing negative returns early in retirement can...

One survey found that military personnel have higher credit card debt and fewer tangible assets than their civilian counterparts.¹

While the financial situation of military personnel and their families...

For most Americans, Social Security has represented nothing more than some unavoidable payroll deduction with the positively cryptic initials of “FICA” and “OASDI” (Federal Insurance Contributions...

American educational reformer Horace Mann called education “the great equalizer.”¹ In football, it’s been said that turnovers are...

The U.S. Department of Agriculture estimates a middle-income family with a child born today can expect to spend about $285,000 to raise that child...

If you're like many small business owners, running your own business is an all-consuming endeavor.

In the face of everyday demands,...

In a recent survey, 68% of current workers stated they plan to work for pay after retiring.¹

And that possibility raises an interesting question: How will working affect...

No one wants to see an Internal Revenue Service (IRS)...

Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach...

The reason withdrawals from an Traditional Individual Retirement Account (IRA) prior...

What has upswings and downturns, troughs, peaks, and plateaus? Though such terms could easily describe a roller coaster ride,...

As a parent, of course you want to give your child the best opportunity for success, and for many, attending the “right” university...

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.

1. No Strategy: Yes, the...

Individuals hold about $2.2 trillion in annuity contracts; a tidy sum considering an estimated $9.2 trillion is held in all types of IRAs.¹

Life insurance is designed to help protect a household from the financial hardships that may follow the untimely death of a primary wage earner.

But how will...

With international stock markets comprising about 45.5 percent of the world’s capitalization, a broad range of investment opportunities...

The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the relative safety of municipal bonds. Without...

As you gear up for crucial retirement decisions such as Social Security, you may have heard of “full retirement...

John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean John and Mary may need...

The business cycle is the term used to describe the expanding and contracting pattern of the US economy. Up until the 1800s, it was thought...

A recent survey found that 23% of people were very confident about having...

During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive” and that guided how your portfolio...

As an annuity owner, you take comfort in knowing that you have planned for an uninterrupted lifelong retirement income stream. Working alongside other income sources...

What if you could get a huge deposit into your income account, have it grow at a guaranteed rate and have a guaranteed payout of your retirement income account...

Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. And Roth IRAs, created as part of...

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know...

When we are ready to retire we must convert the growth of our savings and investments into...

You’ve probably given a lot of thought to what your dream retirement will look like. Now it is time to decide how you are going to pay for it. Like the rest of life, retirement doesn’t come with guarantees....

Social Security...

The uncertainties we face in retirement can erode our sense of confidence, potentially undermining our outlook during those years.

Indeed, according to...

HOW WELL ARE YOU DOING FINANCIALLY?

Gauging your financial health is much more complex than determining your credit...

Most portfolios are constructed based on an individual's investment objective, risk tolerance, and time horizon.

Using these inputs and...

Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of...

Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don’t know that there are other ways...

Five Keys to...

Looking at their recent track records doesn’t do much to settle the debate. Over the past decade, as a whole, value stocks have not performed as well as growth stocks.1 But looking at a larger body of...

Next to “When should I claim Social Security benefits?”, one of the more common questions people have is “How...

Before you add an annuity to your income strategy, it’s prudent to understand what an annuity does and what it doesn’t do. Essentially, annuities are insurance contracts....

Knowledgeable investors are aware that investing in the capital markets presents any number of risks,...

You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need to think about estate management?¹

Here are four great reasons:

Estate Strategies: They're Not Just for the Elderly

1. You need a will. You...

Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.

The...

Chris Rock once remarked, “You don’t pay...

When interest rates reach historic lows, some investors turn to dividend-yielding stocks when in search of income-generating investments.

When a company makes a...

At first blush, the idea of a bond that doesn’t pay interest seems oxymoronic....

The SECURE Act was passed into law in late 2019 and...

Whether it’s sports, music, or politics, life holds any number...

The U.S. Department of Agriculture estimates a middle-income family with a child born today can expect to spend about...

Preparing for retirement can look a little different for women than it does...

By April 19, 2019, 137million taxpayers had dutifully filed their federal income tax returns.¹ And they all made decisions about deductions...

If you're like many small business owners, running your own business is an all-consuming endeavor.

In the face of everyday demands, choosing a retirement plan for...

Stock prices pushed higher last week as news of a White House plan to reopen the...

Few life events are more stressful than a job loss.

If you or someone you know is in this situation due to COVID-19, you’ll likely...

Whether through inertia or trepidation, investors who put off important investment decisions might...

The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market is...

Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. Saving, investing, anticipating medical costs, and making sure you...

In a recent study, 88% of millennials admitted that financial decisions are a source of tension in their relationship with a spouse or partner. This could help explain why some experts say financial problems are the #1...

Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up...

Few life events are more stressful than a job loss.

Sure, you can start your Social Security benefits at age 62. But is it better to claim early or delay benefits until a later date? While a one-size-fits-all answer doesn’t work for everybody, a new study suggests that ill-timed...

You’ve already got a lot to deal with. Why...

Permanent life insurance can help provide the lifelong security that you may want, and if you have a convertible policy, it can be significantly easier to make the switch.

Term...

Determining how much money you need in retirement is both a mathematical and a personal...

Whether your employees telecommute a few days each week or...

About 58 percent of Americans have access to a 401(k) or a similar employer-sponsored retirement plan. A 401(k)...

Recently, Congress passed and President Trump...

If you have never purchased life insurance or if it has been a while since you bought your policy then you may be under-insured. Use these tips to help calculate your life insurance needs. Plan ahead for life-changing events:...

Women face unique financial challenges as they age. When compared with men, women live longer, earn less, and spend fewer years in the workforce. Financial concerns are often more acute for older women who are divorced,...

Most Americans depend on Social Security for retirement income. Today, 55 percent of Americans aged 65 or older live in households that receive at least 50...

Recent research shows that baby boomers and Generation Xers who are in the lower income brackets are more likely to fall short of their retirement goals, which will leave them lacking enough money to live on. 

Researchers...

If you have life insurance and are concerned if it will pay out in case you pass from COVID- 19, you can rest assured...

Once upon a time, pensions were a staple of the U.S. retirement system. But in the last 20...

When shopping around for a life insurance policy, you have many choices. From monthly low-cost term insurance, to more expensive...

In the past, we’ve talked about the importance of being prepared for retirement. Of course preparation is different for everyone. For one, women...

The decision to take out a business loan is a big one!...

In some industries, the competition for good employees is as big a battle as the competition for...

​Most of us would agree, as we go through life, we make blunders, mistakes, misjudgments… In short, we...

When the economy is tooling along and we find ourselves facing only an occasional hiccup in our money matters that falls short of expectations, it’s easy to feel complacent about the future. Surely life tomorrow will be a lot like it...

The Centers for Medicare and Medicaid Services has issued new guidance regarding how Medicare Advantage and Part D plans can respond to enrollees affected by the  coronavirus outbreak.

Under the guidance, the plans are authorized, but not required...

Purchasing or refinancing a commercial real estate (CRE) property can help a business owner build personal net worth and strengthen...

Investment planning is different from retirement planning and as retirement age Americans sit helplessly waiting for a cure to COVID-19,...

Does the prospect of saving for retirement seem more daunting than ever? You may be concerned with market losses, the risk of outliving your money and Inflation.

Ronald Reagan once famously said“Inflation is...

The 2008...

Have you ever seen a documentary on thrill-seekers heading to some far-flung destination?

Scaling Mount Everest. Base-jumping off Europe’s Troll Wall. Biking on the World’s Most Dangerous...

Because every generation believes that younger generations have it...

​In 11 years, health care...

One of the biggest mistakes people make in planning their health and life coverage is assuming they'll never...

First of all, what is insurable interest? It’s simply the stake you have in something that is being insured – and that the amount of...

Congratulations, newlyweds! “To have and to hold, from this day forward…” At a time like this, there...

Proper retirement income planning takes into consideration things that could jeopardize...

• Getting married
• Buying a house
• Loss of a loved one
• The birth of a baby And while you can get life insurance after your baby is born or...

Most people, when they think of life insurance, might think of...

It seems high time to dispel some of these misconceptions. Generalizations about money and retirement linger. Some have...

Concerns about the spread of the coronavirus...

Some good reasons to retain it. Do you need a life insurance policy in retirement? ​One school of thought says...

A key reason that index universal life has become so popular is that it is an excellent product in which to save money now to produce steady cash flow later in...

If you have a home mortgage, and a monthly payment that is dependent on your earned income, watch this short video to learn how you can pay off your home mortgage or continue making your monthly mortgage payment even...

If you are a business owner, and your profitability is dependent on the special skills, experience,...

The sky is falling! ......Okay maybe not, but the Coronavirus is looking like the sort of unexpected, black swan event that scrambles...

If consumer studies give any indication, America needs a financial wake-up call. A lack of consumer financial...

We get...

Some specifics about the "second act." Does your vision of retirement...

We've all seen them.......Those TV shows and commercials where the wealth manager of an...

There are many types of IRAs. But two of the most common are the traditional IRA and the Roth IRA. The type of account you select can have a significant impact on your long-term household savings. The biggest difference between...

Do you have a current annuity or insurance policy that doesn’t fit your needs well? If you are on the lookout for a new policy, a 1035 exchange may be...

Protecting your business is essential to secure the means of your earning by limiting the risk factor to a minimum. At times, it could be all the difference...

Many retirees get an unpleasant surprise after turning 65 and signing up Medicare. It doesn't provide complete coverage of health care costs. In fact, there are...

More than 9 out of 10 current retirees rely at least...

As a small business owner or an entrepreneur, you are used to taking the lead. But there is one frontier you may still need to master… the future of your retirement. That...

While many private-sector workers build their nest eggs through 401(k) plans, federal employees and members of the uniformed services have their own retirement savings and investment plan. This is called the...

It is often perceived that financial planning is only for the rich people. However, this idea is fast getting outdated. Financial planning is for anyone who wants to maximize their profit in order to have...

Mortgage Protection; Disability and Risk.  For many Americans, their home represents both security and peace...

Over the long run, the stock market has been a historically reliable generator of wealth for generations of investors.

Over...

All of us wish to gain financially stability, but only a few of us manage to achieve that. Fortunately, there is a way through which you can save up money and become financially stable....

Comparing annuities to stocks and mutual funds, is like comparing apples to oranges. They are just not the same.

The path to saving for...

It’s always important to diversify and spread your risk among many investments. Diversification can help protect you from fluctuations among different assets and asset classes.1 But, what about diversifying your tax rate exposure? By diversifying among different...

If you are within five years of retirement (before or after), you're especially vulnerable to a downturn. A recent RetireOne study showed what happens to someone who retires with...

Recessions are never good for anyone. A sputtering economy means miserable financial, emotional, and physical-health consequences for everyone from infants to retirees. But the next one—if it happens, when it starts happening—stands to...

FInancial STability is nothing more than good risk management. The main areas of financial risk that often impact families can be summarized by the four L’s:

1. Longevity (Living Too Long)
2. Life (Dying Too Young)
3. Liquidity (Losing Your Job)
4. Loans (Borrowing Too Much)

Without...

Odds are only about 50-50 that your small business will survive five years or more, according to data from the U.S. Labor Department, Business Employment Dynamics (BED). This proves that the road...

Is your investment strategy as socially and environmentally conscious as you are? It's not uncommon – Many a well-educated, socially conscious, environmentally friendly investor winds up buying shares of companies whose beliefs and business practices are far removed from their own. Why?...

How much might health care cost you someday? "Financially speaking, what would be the worst thing that could happen to you?" ​If you ask a hundred people in their forties that question, you may get...

The SECURE Act brings the most sweeping changes to the U.S. retirement system in a decade. Because of that, there is bound to be some confusion about what the act actually does and how it...

If you have money in a savings account, and you are paying off credit cards or borrowing money for any reason, learn how you can convert your debts into a lifetime of tax...

Do you dread grabbing the mail every day?Bills, bills, mortgage payment, another bill, maybe some coupons for things you never buy, and of course, more bills. 

There seems to be an endless stream of envelopes from companies all demanding payment for their products and services....

Find out how some families are lowering their taxable income...with life insurance.

When your student applies for federal student aid (with the dreaded FAFSA form), his or her eligibility depends on your taxable income.

The problem is...many...

• Saving up a lump sum of...

A teacher walked into her classroom with a clear jar, a bag of rocks, a bucket of sand, and a glass of water. She placed all the large rocks carefully into the jar.

“Who thinks this jar is full?” she asked. Almost half of...

It’s paradoxical how owning a home might make you feel more secure. But it may also be a constant source of worry, particularly if you still have a hefty mortgage payment each month. For some, having a mortgage is simply a part of life. But for others, it...

Buying life insurance on the open market when you have had health problems can be a challenge, and it can be expensive, too. But it is not impossible. When buying life insurance, you may have to complete a written and/or verbal medical questionnaire and complete a health...

In August 2016, more than 40,000 homes were damaged by devastating floods in Louisiana, and a majority of the homeowners didn’t have flood insurance. According to FEMA, which oversees the National Flood Insurance program, only 42% of homes in Louisiana’s high-risk...

​​Is your business experiencing growth? While this is good news for the entrepreneur, it also comes with challenges. As your business grows, it undergoes changes and encounters new needs. As you adjust your revenue projections, expand your market, and invest for continued growth,...

Most people plan out their financial lives assuming a retirement around age 65, and maybe 70 in some professions. And given good health, that's a reasonable assumption. But it's also often a bad one. According to a new survey from Prudential Life Insurance,...

Coming off your year-end scramble to make sure your RMDs were done in time?

If so, start the new year off right - shield up to 25% of your qualified money from RMDs until age...

The abundance of investment options that are available to us as we plan for a financially secure retirement can be daunting. Some retirees take too much risk. Others do not. ​ Here we look at the biggest mistakes retirees make, and how you can...

Life will often seem to present signals about financial moves to make. Starting your first job babysitting or mowing lawns? Probably a good idea to begin saving some of those earnings. Need to pay for college? You’ll want to apply...

At least one life insurance company is beginning to offer customers financial incentives for working to stay healthy, and others may follow suit. Under this program, customers can reduce their annual life insurance premiums by as much as 15% if they...

One of the chief criticisms of annuities is their relative lack of liquidity. This is true in some respects. Annuity owners give up complete liquidity in exchange for other benefits, including insurer guarantees for lifetime income, guaranteed growth, or protection from downside risk.

Building your business? You might need outside funding to reach your goals. There’s no doubt that applying for a loan comes with a lengthy to-do list.

If you’re applying for a Small Business Administration (SBA) loan and plan to stay involved in...

Many of us understand the need for protection against the financial consequences of unexpected illness and death. But what about the financial impacts of living a long life? Americans are living longer into retirement than ever before. That means retirement savings need to last...

How You Can Use Indexed Universal life For Your Child and Retirement. Life insurance with living benefits is what the industry refers to as the “new type of life insurance”. New life insurance offers living benefits and old life insurance doesn’t. Simply stated,...

A volatile stock market is fine for the 20 - and 30 - somethings. It's a different matter for people approaching retirement. Your retirement nest egg should be a source of security and comfort to you. It shouldn't be something that makes your blood...

As another year passes by, more people join the ranks of retirees. Since 2011, roughly 10,000 baby boomers have turned 65 years old each day, according to Pew Research. It predicts that trend to go on until 2029.

From second-act careers to volunteering...

A way for businesses – especially niche businesses – to address a major risk. Who are the people most crucial to your business? Have you taken steps to insure them? At every company, there are certain people whose absence would cause day-to-day...

Annuities are valuable tools, when used correctly. No other Financial product on the market can provide the kinds of guarantees on income that an annuity does. But it's vital to understand the tax treatment of annuities as well. Here are some of the most...

The new year is best known for resolutions. The trouble is that many new year’s resolutions don’t survive past the first month or so. Why is that? You might suspect it’s because we set unrealistic goals or lack the proper motivation. If you’ve...

It's happened. After a nearly unanimous passage in the U.S. House of Representatives, the SECURE Act (Setting Up Every Community for Retirement Enhancement Act) has become law. The legislation was “attached” to a bipartisan spending bill with the goal of avoiding another government...

Get the Life Insurance Protection You Need

There are two basic types of life insurance:

Term life insurance provides affordable, basic insurance protection for a specified period of time. It does not build cash value over time.

Permanent life insurance...

Annuities Offer Guaranteed Retirement Income

Concerned about making your savings last for your retirement?

Traditional retirement benefits such as pensions are vanishing, and 46% of Americans have less than $10,000 saved for retirement.*

Annuities can help make retirement more predictable. In exchange for...

The Advantages of a Buy-Sell Agreement

If you pass away suddenly, a buy-sell agreement makes sure the business stays afloat.

4 Ways Buy-Sell Protects Your Business:

• Life insurance creates a lump sum of cash to fund the buy-sell agreement at death.
• Life insurance proceeds are usually paid...

It’s no secret that we can’t depend on Social Security or pensions alone to provide the income necessary to live out our golden years of retirement. Today’s retirees are more active and enjoying longer lives than ever before.

Are you certain your current retirement plan will...

Private mortgage insurance (PMI) is a type of insurance you may be required to pay for when you take out a conventional home loan. If you’re buying a home, lenders require PMI as part of a conventional loan to protect them in case you end up in...

The two most primary concerns in retirement planning today for most individuals are stock market volatility and taxation—and IUL can help assist you in overcoming both.

Stock market downturns in recent years have sparked real concern about the negative impact future volatility could have on retirement assets....

Having life insurance is an important decision, especially for those with dependents relying on their income. However, you may wonder what type of life insurance is right for you. Whole life insurance is just one of many insurance options to consider....

Term life insurance gives coverage for temporary needs. It is considered to be the most straightforward form of life insurance. In a term policy, an insurance carrier promises to give coverage in exchange for a fixed rate of payments...

On October 10, the Social Security Administration officially released the amount of their cost-of-living adjustment for 2020. Almost 70 million Americans will see their Social Security benefits rise by 1.6% next year.

While this raise is less than the 2.8% cost-of-living-adjustment for 2019,...

Are you thinking about getting a life insurance policy? There are many options available. If you’re wondering which path is the right one, here are life insurance basics which can help you get started.

In simple terms, a life...

One big concern when designing an estate plan is taxes. After all, it’s the means by which you transfer wealth to inheritors. The act of giving away your property may be subject to taxes on the state or federal level, or even both.

In...

Nobel prize winner William Sharpe calls it the “nastiest, hardest problem in finance.” What is that? Decumulation, or the process of building a dependable lifelong income stream from your retirement savings.

It’s no wonder millions of Americans are asking if they will have...

The term versus permanent life insurance debate has lingered for years. It is a long-standing question, but it need not be “either-or.” Neither type of coverage is universally superior to the other. Both options have appropriate uses, depending on the needs...

Small business owners are usually a jack-of-all-trades when starting out. Without a budget for staffing or outside help, busy entrepreneurs often work day and night to establish and grow their business. Here are some areas where business owners should consider concentrating their...

The “D” word – debt! It strikes fear into the heart of most consumers and business owners. However, there are valid reasons taking on debt can help your small business grow.

The Wall Street Journal recently posted an article about the benefits...

Today, Americans bear more financial responsibility for their retirement than ever.

The days of receiving monthly pension checks are gradually fading. According to Willis Towers Watson, only 16% of Fortune 500 companies were offering pensions to new hires in 2017, down from 59%...

When a football team gets the ball inside the opposing team’s 20-yard line, they are considered to be in the “red zone." There it's more likely that they will score.

If you are within ten years of retirement (either before or after),...

It's here. The IRS has posted the new income and contribution limits for all types of retirement plans and accounts for 2020. The IRS also covered income and contribution limits for different medical savings accounts.

Many of the income thresholds and...

Several factors come into play when you plan for your retirement. Your age, longevity, and the returns that you will earn from your retirement portfolio are just a few. In some form or fashion, all of those can play into your target retirement...

Ah, the holidays… an annual time of food, fellowship, and fun with family, friends, and loved ones. Everyone returns home and catches up on all of the family happenings over the past year.

But the holidays can also be stressful and fast-paced,...

As the end of the year approaches, now is an excellent time for you to schedule a meeting with your financial advisor. An annual review of your financial situation is an ideal reason to come together.

Not only can you review the...

Retirement planning is, in many ways, a guessing game. You can’t be sure of exactly how long you will live. How much income you will need might not be clear. And you don’t know if you will need long-term care support.

Even so,...

Uncle Sam can be one of your key partners in your retirement saving. If you have money in a traditional IRA or an employer-sponsored retirement plan, then that money automatically receives tax-deferred status in the eyes of the IRS. Other accounts like SIMPLE...

People are living longer than before, leading many to ask: “How long could my retirement really last?” In generations past, retirement represented a relatively short period of time in most peoples' lives. They would work until they were 60 or 65 and then...

Fortunately, there are several ways that you can reduce your tax bill after you stop working through the proper use of annuities and IRAs.

The order in which you withdraw your assets can also substantially impact the amount of tax...

Calculating how much income you will need for retirement isn’t necessarily an easy task. Your health expenses will probably increase, but your mortgage payments may decrease or stop. Meanwhile, other expenses might continue to change over time.

Of course, you likely won’t...

When you determine how much income you'll need in retirement, you may base your projection on the type of lifestyle you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your...

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by investment...

As you gear up for retirement, you may have heard of “safe money solutions.” Are they right for you? It’s an important question, especially since retirement planning is more difficult than it's ever been in history.

Past generations could count on company...

Insurance is an important part of being a homeowner. Not only does it protect you from damages caused by things like fire and vandalism, but it can also protect your personal property or additional structures like garages, and provide liability coverage.

But when is it time to review your coverages?...