Maximizing Your 401(k) Benefits
Your 401(k) is more than just another retirement account—it's a powerful wealth-building tool that can significantly impact your financial future. Understanding how to maximize its benefits can help strengthen your retirement strategy. "The biggest mistake I see people make with their 401(k)s is not taking full...
Tax Planning Tips for Investors: What You Need to Know Before Filing
Tax season isn’t just about gathering W-2s and 1099s. For investors, it’s an opportunity to take a closer look at your portfolio and determine how to manage your tax liability effectively. Investment decisions made throughout the year can significantly impact the amount of taxes you...
Tariffs: How They Work and Potential Economic Effects
On February 1, 2025, President Trump authorized an additional 25% tariff on all goods entering the United States from Canada and Mexico (except for a lower 10% tariff on energy resources from Canada) and an additional 10% tariff on all goods from China. Nine days...
How to Balance Your Retirement Savings While Being a Caregiver
Caring for a loved one is one of the most selfless and rewarding things you can do, but it often comes at a personal cost. For many caregivers, caregiving's emotional and physical demands are only part of the challenge—financial strain is the other. Leslie took care...
The Social Security Fairness Act Increases Benefits for Millions
Under the Social Security Fairness Act signed by President Biden on January 5, 2025, almost 3 million Americans will receive a boost to their Social Security benefits.1 This bill, which had bipartisan support, restores full Social Security benefits to some public-sector employees, including teachers, law...
How to Review and Adjust Your Investment Portfolio for the New Year
The start of a new year is a natural time for reflection and goal setting, and for many, that includes reviewing their finances. While resolutions around spending less or saving more are common, one area often overlooked is the importance of reviewing and adjusting your...
Retirement Savings Changes You Should Know About Before Year’s End
Over half of Americans need to catch up to their retirement savings goals. An additional 10 percent are uncertain about their retirement savings and planning status, according to a 2023 Bankrate survey. As the year draws to a close, it's crucial to stay informed about...
Required Distributions: Changes You Need to Know
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts to be emptied within 10 years of the original owner's death, with...
Financial Management Tips for Small Business Owners
Often, the success of your small business stems from your ability to craft your product or service. However, you may need more expertise in other vital aspects of business operation, like financial management, which is the most significant contributor to business failures. Luckily, there are...
There’s Still Time to Fund an IRA for 2023
The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2023. If you had earned income last year, you may be able to contribute up to $6,500 for 2023 ($7,500 for those age 50 or older by...