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Addressing wealth management comprehensively in today's market environment is essential for individuals and business entities. Given the dynamic nature of global markets and the ever-changing economic landscape, navigating investment...

Social Security is a vital component of retirement income for many. This government program provides monthly benefits and is funded primarily through payroll taxes. Understanding Social Security benefits and taxation is essential to...

Understanding the guidelines surrounding Required Minimum Distributions (RMDs) becomes crucial as we navigate the complexities of personal finance and retirement planning. For those who have inherited retirement accounts or are...

The percentage of adult Americans who invest toward retirement is nearing an all-time high at over 63%.1 These days it is far easier to pursue different investment instruments to manage and preserve wealth and over the past few decades...

A critical aspect of retirement planning is understanding the rules and requirements surrounding Required Minimum Distributions (RMDs) from retirement savings accounts. An RMD is a mandatory minimum amount that retirement account...

The world of personal taxation and tax deductions can often be puzzling. While these elements aid in reducing one's tax burden, they may also come with unexpected limitations. These limitations can take taxpayers by surprise, reducing...

There are only two things in life you can count on happening at some point--death and taxes. In death, these two circumstances can come together at the same time. When a person dies, leaving a significant estate, there is the expense...

Retirement is a chapter of life that, for some, may signal leisure, freedom, and working by choice, not necessity. However, this phase usually requires retirement income from retirement savings withdrawals. Different retirement account...

Even if you're saving money in a 401(k), IRA, or another type of retirement account, you may not be paying much attention to the specific rules and regulations governing these accounts. After all, if you're years away from retirement,...

Looking back, 2024 clearly echoed many of the themes from 2023. By and large, the economy continued to defy expectations and surprised once again. Stocks continued their strong performance, driven by powerful trends in artificial...

On Giving Tuesday1—the day after Cyber Monday—millions of people across the world focus their attention on giving back. Whether as a way to eke out meaningful legacies or trim your tax bills, end-of-year philanthropy is a good cause...

Charitable giving is a way for you to participate in something meaningful to you and your family, a cause that aligns with your core values while benefiting members of the community. People can benefit greatly from giving – personally,...

As the year comes to a close, there are some important deadlines that you shouldn’t ignore. These deadlines affect your taxes, savings, and, perhaps, your financial future. Here’s a simple guide to help you stay on track before this...

Contributing to a 401(k) plan is an excellent method for saving for retirement. There are many benefits to having a 401(k) plan, and you often hear that you are supposed to max out your account. Yes, that is true, but not so fast....

Inheriting comes with many emotions, from sadness to confusion to perhaps even joy or relief. An inheritance can take various forms, such as cash, properties, stocks, bonds, property, or other assets. The person leaving the inheritance...

The 401(k) plan is an excellent way for HENRYs, high earners not rich yet, to save for retirement. Hitting the maximum contribution limit is a goal many work toward to reap the benefits of this tax-deferred saving strategy fully. But...

As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation....

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood. If not, try to imagine how it might be if your...

As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon. But time has a way of flying by, and you realize that maybe you are not...

529 plans are a tool for those looking to save for college for their children, grandchildren, or any family member. While most people know that they are one of the most popular saving methods for college, many myths surrounding these...

To maintain good physical health, most people must exercise regularly, eat a balanced diet, and keep stress to a minimum. Achieving financial wellness is no different. It requires careful planning, smart decision-making, and consistent...

If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that your Social Security benefit would not be enough to sustain you in...

When it comes to financial accounts like the IRA, details are everything. Look past the surface, examine it closer, and you may be surprised that numerous accounts, including your IRAs, contain hidden gems and little-known facts you...

Financial literacy is crucial to a solid financial future and an enjoyable retirement. No matter your age, when you understand how to manage your money and finances, you can make sound financial decisions and take the needed steps...

Most American workers who earn wage income and pay Social Security taxes via withholding receive Social Security benefits at some point in retirement. While the Social Security Administration has tried to make the process easier to...

If you have a 529 education savings plan, it can now be converted to a Roth IRA. Both plans are funded by after-tax money. Initially, the money put into a 529 plan had to be used toward education expenses. If, for whatever reason, the...

Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial. Whether due to...

Approximately 60 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to...

Women face unique financial challenges and need to proactively plan As we witness a societal shift with more women taking control of their financial health, it's clear that financial empowerment is no longer a men's only domain. This...

When filing your income taxes, each taxpayer is different. Some prefer reducing the taxes they owe and getting the most significant possible refund, while others work to keep the taxes they pay as low as legally required. The IRS...

Navigating these demands an adaptable approach to planning your finances As we kick off 2024, the world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate...

Retiring early as a couple is a goal shared by many, and if planned comprehensively, it may provide opportunities for travel, passion projects, and more quality time together. Retiring simultaneously can bring many benefits, such as...

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...

Stocks are off to a solid start in 2024. January gains are particularly enjoyable because of the old adage from the Stock Trader’s Almanac, “As goes January, so goes the year.” Nearly 75 years of historical data shows...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include: If you have income from working in retirement....

While protecting your financial data has always been important, it grows even more critical as you start planning for retirement. From preserving your retirement savings to maintaining financial independence to avoiding stress, you...

Asset management and financial wellness can help develop long-term confidence when wealth transfers from generation to generation. Understanding and implementing financial wellness techniques is essential for effectively sharing wealth...

As one approaches retirement, monitoring your financial situation by understanding your net worth and assessing the assets and resources needed to maintain a comfortable lifestyle throughout retirement is vital. This article explores...

In 2024, LPL Research believes markets will make a definitive turn to a more recognizable place. En route, the transition will be marked by meaningful shifts in a few key areas. Inflation is going down. The risk of a recession is...

Here are some things to consider as you weigh potential tax moves between now and the end of the year. 1. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax...

If you struggle to find a gift for the person who has everything—or want to do your holiday shopping without having to leave the house—consider giving stock as a gift. Doing so is easier than you think, and it may offer a...

Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to...

Whether you are just entering your golden years or are already several years in, setting goals to stay on track and maintain your health, happiness, and finances is essential. So why not use the New Year's holiday to turn these goals...

Here are some things to consider as you weigh potential tax moves between now and the end of the year. 1. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax...

It’s not just about how much money you make, but how much you keep Capital gains taxes might sound like a complex financial term reserved for Wall Street tycoons, but in reality, they touch most investors and many homeowners....

Thanksgiving is a holiday for spending time with loved ones, being grateful, and perhaps enjoying a bit of overindulgence. There are many financial lessons to be had in planning, preparing, and celebrating this annual feast.1 Here are...

Qualified Charitable Distributions (QCDs) are vital for those who must take an annual required minimum distribution (RMD) but seek a tax-advantaged strategy that may help lower their adjusted gross income (AGI). Using a QCD strategy,...

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a...

Investing your money for the future might be one of the quickest ways to grow your wealth, whether saving for retirement or making a large purchase. While most people know investing is a potential way toward a more manageable financial...

You may sometimes hear the terms "estate planning" and "asset protection" used interchangeably. They actually have different meanings, and it's important to incorporate both strategies into future financial plans. Below, we discuss key...

The vast majority of Americans need long-term care. According to the U.S. Department of Health and Human Services, 70% of people over age 65 may need some long-term care during their lives.1 Unfortunately, planning for long-term care...

Now is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial...

Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail? Analysts suggest there are four designated phases of retirement that a person often...

Obtaining a life insurance policy is part of being an adult. But it’s also something that you can easily neglect, especially if you obtained it earlier in adulthood. While you may have been diligent in securing your life...

Matching your tolerance for risk with your investment objectives Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like...

With the cost of college being expensive for many, receiving a tax break from the IRS for college-related expenses may be appealing. 529 Plans and Coverdell Education Savings Accounts (ESAs) offer tax-advantaged withdrawals when used...

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. And asset allocation and diversification alone cannot guarantee a profit or eliminate...

Retirement planning is a constantly evolving process. Strategies that may have worked fine a few years ago may no longer be the optimal direction to continue. Your life may have taken unexpected turns, you may have different retirement...

You can learn a lot from those who have come before you. For individuals interested in investing, especially those new to it, learning and applying the wisdom from people that have found techniques that worked for them is a great...

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy...

Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical...

If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves...

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change. It’s a theme...

The “Sandwich Generation” faces a lot of struggles. If you’re unfamiliar with this term, it describes a demographic where usually middle-aged individuals must support aging parents at the same time they’re...

Many investors still adhere to the old adage—"sell in May and go away"—while others remain fully invested even as the summer heat waves begin. What goes unsaid is that if your asset allocation accurately reflects your risk...

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

The sandwich generation is a term commonly used to describe those between the ages of 40 and 59 who are responsible for raising their family and are also often helping their aging parents manage their ongoing needs. Those members of...

June 7, 2023Dear Valued Investor,Every so often Washington likes to remind us how hard it can be to get things accomplished. The most recent example is the debt ceiling—the amount Congress can borrow to pay its bills. It seems...

Golfing and investing may not seem to share much common ground at first glance. But the more you think about it, a successful golfer and a successful investor share a number of traits such as patience, perseverance, attention to detail...

After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to...

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and...

Setting healthy financial goals is critical. Even more important is staying committed to those financial goals.Keeping yourself committed to your goals may be difficult, especially when times may be financially tough. But by staying on...

Whether you are an employee in corporate America or a small business owner, retirement is a part of life. For many, the thought of retiring and whether or not you are ready to take those first steps might be overwhelming or...

What is it?Life insurance is not only about protecting your survivors in the event of your death. Depending upon the type of policy you purchase, it can also enable you to meet specific life goals: retiring comfortably, paying for your...

As you age, the question of when to collect Social Security (SS) retirement benefits will likely come to mind. There is no one size fits all age; your unique circumstances and goals will dictate the appropriate time for you to take...

If you hope to retire soon and are concerned about what the future may hold for your investments, you are not alone. Inflation has many retirees and soon-to-be retirees worried about outliving their savings and investments.1 What...

In golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying lessons from the golf course to your financial life...

Do you have a yearly tradition of reviewing your financial plan?It is Masters time again, and we ask why is the Masters so special? Well, it starts because the tournament’s co-founder – Bobby Jones – was one of the...