The prospect of being unable to work due to an illness or injury may seem remote to many of us, particularly during our younger working years. However, the COVID-19 pandemic has increased the chances of getting sick and not being able to work for an extended period, making disability income insurance (DI) more important than ever, regardless of your age.
Health insurance may pay for some of the medical expenses related to your illness, but it won’t cover your lost wages if you can’t work. And while many employers offer some form of sick leave, it may not last long enough to cover the length of time you can’t work. Disability income insurance pays a portion of your salary if you are unable to work due to an injury or illness. But will DI cover you if you can’t work due to COVID-19? Continue reading “COVID-19 and the Importance of Disability Income Insurance”
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2021. Continue reading “Key Retirement and Tax Numbers for 2021”
Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will, or designate a charity as a beneficiary of your retirement plan or life insurance policy. Or, if your gift is substantial, you can establish a private foundation, community foundation, or donor-advised fund. Continue reading “Charitable Giving”
As people move through different stages of life, there are new financial opportunities and potential pitfalls around every corner. Here are common money mistakes to watch out for at every age. Continue reading “Watch Out for These Financial Pitfalls in the New Year”
“You can’t time the market” is an old maxim, but you also might say, “You can’t always time retirement.”
Market losses on the front end of retirement could have an outsize effect on the income you receive from your portfolio by reducing the assets available to pursue growth when the market recovers. The risk of experiencing poor investment performance at the wrong time is called sequence risk or sequence-of-returns risk. Continue reading “Sequence Risk: Preparing to Retire in a Down Market”
Both Roth Conversion and Roth Contributory Accounts can be used for contributions and rollovers, but there is one small advantage in keeping these items in separate Roth IRAs. Here’s why: Continue reading “WHY YOU MAY WANT BOTH A ROTH CONVERSION AND ROTH CONTRIBUTORY ACCOUNT”
Note: There is an assignment at the end of this 🙂
I am sharing this great article, from my colleague, Jean Long Manteufel, who is CEO of Transitions with Jean. She helps Seniors make transitions in their living quarters, be that making their homes saver, or moving to assisted living. She always has valuable insights to share. Please read on about some ways to “transition” our holiday celebrations! Continue reading “Put Your Thinkin’ Caps On!”
During the holiday shopping season, your credit score is probably the last thing on your mind. But as you start your seasonal spending, remember to use credit wisely so you can start the new year with a healthy credit score. The following tips can help you maintain or potentially improve your credit score throughout the holidays and beyond. Continue reading “How to Help Maintain a High Credit Score”
In early 2020, 61% of U.S. workers surveyed said that retirement planning makes them feel stressed.1 Investor confidence was continually tested as the year wore on, and it’s likely that this percentage rose — perhaps even substantially. If you find yourself among those feeling stressed heading into the new year, these tips may help you focus and enhance your retirement savings strategy in 2021. Continue reading “Five Tips to Regain Your Retirement Savings Focus in 2021”
As an advisor and as a fiduciary, it is my job to keep you informed and provide solid information. I wanted to share this article from my partners, that helps shed some light on recent volatility.
Flash – October Market Volatility12 (003)