Financial Resolutions: A Guide to Starting Off the New Year Right
As the calendar turns to a new year, many of us reflect on the past and set goals for the future. One area that deserves careful consideration is our financial well-being. Whether you're looking to save more, invest wisely, or pay down debt, the beginning of the year is an excellent time to set the stage for a financially successful year ahead. In this blog, we'll explore practical steps to help you start off the new year on the right foot [...]
Reflections & Resolutions: Navigating the Year-End Fiscal Landscape
Introduction: As the year draws to a close, it's an opportune moment to reflect on your financial journey and lay the groundwork for a prosperous new year. The year-end is not only a time for festive celebrations but also a crucial period to assess your financial health, set goals, and make strategic decisions. In this article, we'll explore key considerations for wrapping up the year on a strong financial note and planning for a financially sound future. Review Your Financial Goals: [...]
Don’t Forget Your RMD: A Year-End Retirement Planning Reminder
Introduction: As the year draws to a close, it's essential for retirees and those with retirement accounts to be mindful of their Required Minimum Distributions (RMDs). RMDs are mandatory withdrawals from retirement accounts that individuals must take once they reach a certain age. Failing to take these distributions on time can result in penalties and tax consequences. This article serves as a friendly reminder to prioritize your RMDs before the end of the year and offers some insights on how to [...]
Preparing for the New 529 Plan
Education is a significant investment in a child's future, and responsible financial planning is crucial to ensure the availability of funds when the time comes. 529 Plans have long been a popular saving choice for higher education expenses, its origin dating back to 1996 when this prepaid college savings account first was added to the IRS tax code. And over the years, there have been changes and improvements to the Plan to make it a more attractive savings vehicle for a [...]
A Thanksgiving Conversation with the Family CFO
As we approach Thanksgiving, a time of gratitude and togetherness, it's fitting to acknowledge the unsung hero of the household – the one who manages the family finances. Often referred to as the Chief Financial Officer (CFO) of the family, this individual plays a vital role in steering the family ship through the financial seas. In the spirit of the season, let's explore the importance of effective communication, collaboration, and planning in managing a family's finances. Setting the Thanksgiving Table: Budgeting [...]
Holiday Financial Planning
The holiday season is a joyful time, but it can also bring about financial stress if not properly managed. As Financial Advisors, we understand the importance of effective financial planning. Here are some essential tips to help you prepare financially for the holiday season: Set a Budget: Start by creating a holiday budget that includes all your expenses – gifts, decorations, travel, and special events. Stick to it to avoid overspending. Save in Advance: Ideally, you should start saving for the [...]
Let Freedom Ring
While attending a recent conference in Philadelphia, I had the opportunity to visit Liberty Bell. Philadelphia is such a historic city, with sites that represent the very beginnings of our nation, such as Independence Hall, the President’s House, and the Betsy Ross House. During a time in our country when there appears to be so much division, I wanted to visit a landmark that has been a symbol of freedom for all. Liberty Bell bears a timeless message: “Proclaim Liberty Throughout all the Land [...]
Guarding Your Finances Against Halloween Horrors
Halloween is here, and while the spooky season is all about costumes and candy, it is also an excellent time to reflect on the scarier aspects of our lives. Financial scares can be just as bone-chilling as any ghost story, and it is crucial to ward them off. So, grab your favorite Halloween treat, and let us dive into how to keep those money woes at bay. The Phantom Expenses Picture this: You're going about your daily life when, out of [...]
The Debt Maturity Wall
The market movement over the last couple of months can really be summarized by one graph. In my humble opinion, this is the most important graph in all of finance right now and the market is just now starting to digest its implications. This is graph of the 10-year treasury bond yield that broke its multi-decade downward trading pattern back in 2022 and continues to rise here in 2023. Stocks and bonds, farms and businesses, homeowners and renters, credit card owners [...]