About Russell Harris

This author has not yet filled in any details.
So far Russell Harris has created 84 blog entries.

April Is Financial Literacy Month. Do You Have These 5 Finance Basics Down?

Working with a trusted financial professional is important when it comes to strategizing and preparing to meet your financial goals. But as most of us handle money on a daily basis, it’s important to have an in-depth understanding of the fundamentals of financial literacy. Below we’ve identified five financial basics everyone should know. Understanding these important concepts can serve as a basis for your financial standings. Basics #1: Debt & Credit Scores Understanding the ways in which credit or debt can work with or against you should serve as the [...]

By |2024-01-30T19:37:34-05:00March 11, 2021|Financial Planning|

Women and Wealth: Taking Charge of Your Finances

When it comes to financial planning, women are likely to face different challenges than men. For one, they earn less than men on average, and they’re more likely to work part-time jobs or take time away from their careers to raise children and care for family. Time off and lower lifetime income means women face unique financial planning challenges. Here’s a look at some common financial issues women face and strategies to address them. Less income means less money to devote to savings On average, women earn just over $0.80 [...]

By |2024-01-30T19:37:44-05:00March 4, 2021|Financial Planning|

Choosing the Right Life Insurance Policy | Compare Plans

How to compare plans based on your specific needs   The basic premise behind life insurance is simple: You pay premiums to an insurance company, which then pays your beneficiaries a certain amount after you die. But not all life insurance policies are alike. In fact, the right policy for one person may be precisely the wrong choice for someone else. Understanding the basics of life insurance and what to look for in a policy can help you find coverage that fits your needs.   What is life insurance?   [...]

By |2024-01-30T19:38:24-05:00February 2, 2021|Insurance|

Preparing for the 2021 Tax Season | Financial Advisor Advice

How a financial advisor can help you manage your taxes this year  Reducing your tax burden can help you manage your wealth and free up money to meet your financial goals and build your legacy. But tax rules are complicated, and you may need help understanding all the methods you can use to minimize your tax burden. Your financial advisor is one resource you can tap to help you develop strategies that fit your plan and reduce your tax exposure in 2021. Here are four ways they may be able [...]

By |2024-01-30T19:38:35-05:00February 2, 2021|Tax Planning|

Tax Tips for Charitable Donations | CARES Act

Charitable giving is a great way to support the causes you care about while also getting a tax break. In 2020, Congress passed the Coronavirus Aid Relief and Economic Security (CARES) Act, which incentivized charitable giving by offering new rules for charitable deductions. As we move into the new year, now is the time to make sure you’re making your 2020 deductions properly and planning for your 2021 charitable giving. Here’s a look at what you need to know. 2020 Tax Moves The CARES Act temporarily changed some of the [...]

By |2024-01-30T19:38:49-05:00January 7, 2021|Tax Planning|

4 Smart Money Moves for 2021 | Brighten Your Financial Life

With the new year in full swing, it’s a great time to take stock of your personal finances. From building a budget and saving for retirement to getting a jump on this year’s taxes, here are some of the smart money moves to consider to help brighten your financial life in the new year. 1. Build a budget Creating a monthly budget can help you better understand your spending and identify how much money you can put toward your financial goals. First, take your monthly salary or wages after taxes [...]

By |2024-01-30T19:38:59-05:00January 7, 2021|Financial Planning|

How to Make a Wealth-Transfer Plan | Asset Management

A well-designed plan protects your wishes and helps avoid conflict among your heirs.  A wealth transfer plan guides the movement of your assets from your estate to your beneficiaries. Baby boomers are already in the throes of the most significant wealth transfer in history. Over the next 25 years, they are expected to leave $68 trillion in wealth to their heirs. But you don’t need to be older to need a wealth transfer plan, nor do you need a large estate. A plan that includes a will and proper beneficiary [...]

By |2024-01-30T19:39:20-05:00November 2, 2020|Estate Planning, Financial Planning|

The Importance of Long-Term Care Planning | Health Care Coverage

Long-term care coverage can fill in the gaps other health care insurance leaves behind.   Long-term care insurance helps cover the cost of assistance with daily living tasks, including bathing, dressing, eating, and mobility. This type of care is not covered by Medicare, supplemental Medigap policies, or other traditional health care insurance. If you’re relatively young and healthy, you may feel you have plenty of time before you need to worry about long-term care—or you may even think you won’t need it at all. But consider this: Someone turning 65 [...]

By |2024-01-30T19:39:32-05:00November 2, 2020|Insurance|

Preparing for Health Care Costs in Retirement | Retirement Planning

For many Americans, navigating the maze of health insurance options—from employer-based plans to individual policies—can be dizzying. Much of that changes at 65. That’s when individuals generally are eligible for Medicare, which covers routine health care expenses such as visits to doctors and prescription drugs. But the program doesn't cover everything. Here is a breakdown of how Medicare works—and your coverage options for filling in the gaps.   Inside Medicare  Medicare comprises four parts that cover different health care services and carry various financial obligations. People who are already receiving [...]

By |2024-01-30T19:39:44-05:00October 27, 2020|Insurance, Retirement Planning|
Go to Top