Wealth Management

Health savings accounts (HSAs) have grown tremendously in popularity over the past few years. You’ve probably heard of them or maybe your employer offers one. This memo will uncover answers to common questions you may have about HSAs. What’s an HSA?..

Although not a pleasant topic, it is an important one – Who is the named beneficiary of your retirement account should you pass away? When you enrolled in your retirement plan, you were asked to select a beneficiary to receive your retirement plan assets in the event of your death. This step may be more important than you think, and it is imperative that you keep this information up to date. Single If you are single, your assets go to the designated beneficiary, no matter what your will states...

Do you spend more time planning your annual vacation than you do thinking about your personal finances? If so, you’re not alone. A lot of people put off financial planning or avoid it altogether. Personal financial planning is an ongoing, lifelong process...

With the potential for tax-free retirement income, Roth IRAs may be appealing investment vehicles. There are three ways to fund a Roth IRA — you can open an account and contribute directly, you can convert all or part of a traditional IRA to a Roth IRA, or you can roll over or convert funds from an eligible employer retirement plan. 1. Open account, contribute directly In general, you can contribute up to $6,000 to an IRA (traditional, Roth, or a combination of both) in 2022 (unchanged from 2021); $7,000 if you'll be age 50 or older by December 31...

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors...

As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die. Perhaps you have children or other family members who wish to continue the business after your death...

Investor demand for exchange-traded funds (ETFs) has increased over the last decade due to some attractive features that set them apart from mutual funds. In December 2021, almost $7.2 trillion was invested in more than 2,500 ETFs. This is equivalent to 27% of the assets invested in mutual funds, up from just 9% in 2011...

Abstract: COVID-19’s rapid spread and the economic havoc that followed are vivid reminders of how unpredictable and volatile the broad economy — and each family’s personal finances — can be. This article discusses three financial lessons that may be learned from the pandemic. The virus’s rapid and continued spread — and the economic changes that followed — are vivid reminders of how vulnerable and unpredictable your family’s personal finances may be. Now, almost two years later, the pandemic’s impact persists...

Visit our Year-End Planning Hub for more resources   Written by Cathy Shoemaker, CPA, MBA, MST   This is the fifth in a series of articles explaining the importance of exploring estate planning strategies in anticipation of expected tax changes that could be enacted under the Biden administration. Be sure to also read our first four articles in the series: Proposed estate tax changes: prepare now to preserve your assets; A good estate plan starts with thorough documentation; Smart estate planning moves for business owners; and Act now to take advantage of wealth transfer strategies before proposed tax law changes are enacted. It’s better to plan than to predict The specifics of the Biden administration’s proposed tax law changes, which could be enacted by the end of 2021, continue to be debated and adjusted as the bill is reviewed by Congressional committees. What hasn’t changed is the simple truth that planning ahead and having proper documentation in place is the best way to protect your assets and know with confidence they will be distributed to your beneficiaries according to your wishes...

Each quarter, Market outlook from the Rehmann Capital Management Group examines economic news. Read the full outlook...