The Complete Guide to Special Needs Trusts Special Needs Trusts not only protect essential government benefits but also enhance the quality of life and long-term security for individuals with special needs. They offer families peace of mind, knowing that their loved ones will be well cared for both now and in the future. Whether you’re…
5 Retirement Savings Catch-Up Strategies to Help You Secure Your Financial Future Accumulating sufficient savings during your working years helps paves the way for a secure and comfortable retirement. However, many individuals find themselves facing the daunting reality of starting their retirement planning later than ideal. Indeed, competing financial responsibilities, fluctuating income levels, and even…
7 Tips for Reducing Financial Stress If you’ve ever laid awake at night worrying about bills, felt a knot in your stomach when checking your bank balance, or argued with a loved one about money, you’re not alone. In fact, a staggering 73% of Americans identify money as the number-one cause of stress in their…
Financial Advisors vs. Financial Planners: What’s the Difference? As your financial situation grows more complex, professional guidance can be invaluable in helping you achieve your goals. However, choosing the right expert can be challenging given the wide range of available options. For instance, you may find yourself wondering whether you need a financial advisor or…
What Would a U.S. Recession Mean for Your Money? For more than a year, economic forecasters have been predicting the likelihood of a U.S. economic downturn amid the Federal Reserve’s efforts to curb inflation by raising interest rates. Historically, achieving a “soft landing”—controlling inflation without triggering a severe recession—has been challenging for the Fed during…
Should You Pay Off Your Mortgage Before Retiring? Deciding whether to pay off your mortgage before retiring is a pivotal financial decision with profound implications for your lifestyle and financial stability during your retirement years. Indeed, eliminating this significant monthly expense can offer peace of mind and enhance your financial security. However, it’s important to…
How Do Presidential Elections Affect the U.S. Stock Market? As the 2024 U.S. presidential election draws near, investors are understandably anxious about its potential impact on the stock market. The primary season is ongoing and won’t wrap up until June, yet early indicators suggest a potential rematch between Democratic incumbent President Joe Biden and his…
Can a Roth Conversion Help You Achieve Your Retirement Goals? As you approach retirement, strategic planning around your taxes can significantly impact your financial comfort and security during your golden years. One strategy that can be particularly advantageous is a Roth conversion, especially if you currently exceed the income threshold for contributing to a Roth…
5 Key Strategies for Minimizing Capital Gains Taxes For many, tax season is a demanding time marked by meticulous paperwork and strict deadlines. Yet, it also offers a unique opportunity for a comprehensive financial check-up. The process of gathering and reviewing your financial documents in preparation to file your taxes allows you to evaluate how…
Planning for Long-Term Care: Key Considerations and Strategies As we age, the likelihood of needing dedicated medical care or assistance with daily living activities increases. In fact, the U.S. Department of Health and Human Services estimates that 70% of people turning age 65 will need some form of long-term care in their lifetimes. Unfortunately, traditional…