Wealth Management

Wednesday, 29 September 2021

Following the Inflation Debate

Written by Broadridge, Inc.

During the 12 months ending in June 2021, consumer prices shot up 5.4%, the highest inflation rate since 2008.1 The annual increase in the Consumer Price Index for All Urban Consumers (CPI-U) — often called headline inflation — was due in part to the "base effect." This statistical term means the 12-month comparison was based on an unusual low point for prices in the second quarter of 2020, when consumer demand and inflation dropped after the onset of the pandemic...

Published in Wealth Management
Tuesday, 14 September 2021

Smart estate planning moves for business owners

Written by Mike McCarthy, CPA,CFP®, MST

Written by Mike McCarthy, CPA,CFP®, MST   This is the third 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 two articles in the series, Proposed estate tax changes: prepare now to preserve your assets and A good estate plan starts with thorough documentation. As a business owner developing or updating your estate plan, it’s essential to take personal and professional considerations into account. It’s a process you’ll likely undergo more than once as your plan evolves...

Published in Wealth Management
Tuesday, 24 August 2021

Webinar Series | Empowered Planning: Your Business Transition

Written by The Rehmann Team

Empowered Planning: Your Business Transition The decision to sell your business is a big one, and you’re far from alone if you’re thinking about making this kind of transition – here at Rehmann we are hearing from clients considering a move of this kind, either soon or in the not-too-distant future, and they understandably have important questions and concerns. Listen to the on demand webinar below if you are among the family-owned or closely held businesses considering selling...

Tuesday, 17 August 2021

Four Reasons to Review Your Life Insurance Needs

Written by Broadridge

You may have purchased life insurance years ago and never gave it a second thought. Or perhaps you don't have life insurance at all and now you need it. When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected. Marriage When you were single, life insurance might have seemed like an unnecessary expense, but now someone else is depending on your income...

Published in Wealth Management
Wednesday, 04 August 2021

A good estate plan starts with thorough documentation

Written by Cathy Shoemaker, CPA, MBA, MST

By Cathy Shoemaker, CPA, MBA, MST   This is the second 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 article in the series, Proposed estate tax changes: prepare now to preserve your assets. Think of an estate plan as a life plan. A good estate plan does more than simply detail what you want to happen to your assets after you die...

Published in Wealth Management
Tuesday, 03 August 2021

Weighing the pros and cons of an IRA rollover

Written by Derrek Klimek

Significant life events, such as changing employers or entering retirement, should prompt you to consider rolling your retirement assets into an IRA. A rollover may be a wise financial move depending on your current financial situation. When done correctly, it can set you up for long-term financial success. However, an IRA rollover is not your only option...

Published in Wealth Management
Tuesday, 13 July 2021

7 Ways to Reduce Fiduciary Liability

Written by RPAG

In 2020, nearly 100 lawsuits alleging breach of fiduciary duty were filed. And with the number of 401(k) lawsuits on the rise targeting plans both large and small, sponsors are well-advised to consider taking additional measures to mitigate fiduciary risk where practicable. Here are a few to consider.  Create and follow an IPS...

Published in Wealth Management
Wednesday, 23 June 2021

Life Insurance Beneficiary Mistakes to Avoid

Written by Broadridge, Inc.

Life insurance has long been recognized as a useful way to provide for your heirs and loved ones when you die. Naming your policy's beneficiaries should be a relatively simple task. However, there are several situations that can easily lead to unintended and adverse consequences you may want to avoid. Not Naming a Beneficiary The most obvious mistake you can make is failing to name a beneficiary of your life insurance policy...

Published in Wealth Management
Wednesday, 23 June 2021

Don't Let Debt Derail Your Retirement

Written by Broadridge, Inc.

Debt poses a growing threat to the financial security of many Americans — and not just college graduates with exorbitant student loans. Recent studies by the Center for Retirement Research at Boston College (CRR) and the Employee Benefit Research Institute (EBRI) reveal an alarming trend: The percentage of older Americans with debt is at its highest level in almost 30 years, and the amount and types of debt are on the rise. Debt Profile of Older Americans In the 20-year period from 1998 to 2019, debt increased steadily for families with household heads age 55 and older; in recent years, however, the increase has largely been driven by families with household heads age 75 and older. From 2010 to 2019, the percentage of this older group who carried debt rose from 38...

Published in Wealth Management
Thursday, 10 June 2021

Managing your personal finances during the economic recovery

Written by Derrek Klimek, CFP, CPA, Rehmann

The COVID-19 pandemic has taken a toll on us all—but not everyone has been affected in the same way. When it comes to the economic consequences of the pandemic, individual impact has varied widely. As we head toward a potential economy recovery, financial planning should be reflective of how the pandemic has impacted you personally. As such, it’s helpful to think about ourselves in one of two categories: those who have been negatively impacted financially by the economic downturn, and those who have not...

Published in Wealth Management
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