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When it comes to wealth management services, we should understand the benefits and drawbacks of automated advice before trusting our financial situation to it.

Ever since their creation in 1997, Roth IRAs have been an effective way to save for retirement. Because they allow post-tax contributions to both grow tax-free and be withdrawn tax-free, financial experts encourage clients to maximize Roth contributions throughout their working years. 

One of the most frequently asked questions we get as a financial advisor company in Utah County is, “what is the best way for me to set aside money for my kids?”

From the moment they enter your life, your children are tethered to your heartstrings. It is natural for new parents to want the highest opportunity of success for their children. This may lead parents to wonder, what are the best ways to save money for my kids?

Some of the largest employers in Utah have traditionally included pensions, also known as Defined Benefit or Cash Balance plans, for employee retirement. These plans pay retirees a set amount of money monthly for the remainder of their (and possibly their spouse’s) life.

As an experienced financial planner, one of the most common questions I get asked is, “Do I need to purchase umbrella insurance?” The short answer, most likely, is yes. Adequate umbrella insurance can save you millions, especially if you are a high-earner, have sizable assets, or are in a career where you could be liable for the accidents and injuries of others.

Countless people have chased after the idea of becoming a “millionaire,” only to fall short. While a million dollars today buys much less than it once used to, desires to be financially comfortable and independent are undiminished. So, what are individuals that have a high net worth doing right? Surely, they have unlocked some secret to financial freedom and success.

About a year ago, Congress passed the “Tax Cuts and Jobs Act,” enacting one of the largest set of tax changes in decades. Most of these changes are now in effect for the 2018 tax year, and you will notice the differences as you file this April.

Here is a roundup of the most important things to know about the recent tax changes.

Making decisions in the financial world can intimidate the most confident of us. In fact, even people with multiple degrees and significant successes will often admit their inadequacies when it comes to financial topics like investing.