Wealth Management

Prioritizing Personal Growth and Prosperity  Sound financial planning and decision making is crucial, now more than ever, and it starts with looking closely at the things we can control as opposed to getting swept up in the white noise of what we can’t. This new landscape is unknown territory in some ways, but history reminds us that the economy, as well as investment markets, are resilient...

Stock market volatility in 2020 has clearly reinforced at least one important investing principle: Short-term goals typically require a conservative investment approach. If your portfolio loses 20% of its value due to a temporary event, it would require a 25% gain just to regain that loss. This could take months or even years to achieve. So how should you strive to accumulate funds for a short-term goal, such as a wedding or a down payment on a home?..

The coronavirus and subsequent government-imposed lockdowns confronted the United States and the world with unprecedented challenges.  Additionally, the ongoing pandemic has weighed heavily on economic activity as investors face the shortest and most severe recession in the post-WWII era.  The sharp recovery in the domestic markets exemplifies the power of public policy as markets continue their march higher. Monetary support from the Federal Reserve (Fed) included reducing interest rates to zero and a commitment to unlimited purchases of US Treasuries and agency mortgage-backed-securities, amongst various other supportive bond purchasing programs and policy action...

As the number of COVID-19 cases began to skyrocket in March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation may make it easier for Americans to access money in their retirement plans, temporarily waiving the 10% early-withdrawal penalty and increasing the amount they could borrow. Understanding these new guidelines and the other rules for loans and early withdrawals may help you determine if they are appropriate options during a financial crisis. (Remember that tapping retirement savings now could risk your financial situation in the future...

On June 8, 2020, the National Bureau of Economic Research (NBER), which has official responsibility for determining U.S. business cycles, announced that February 2020 marked the end of an expansion that began in 2009 and the beginning of a recession.1 This was no great surprise considering widespread business closures due to the coronavirus pandemic and the resulting spike in unemployment, but it was an unusually quick official announcement...

Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. To ensure that your wishes are carried out, and that your family is spared the burden of guessing — or arguing over — what you would decide, put those wishes in writing. Generally, that means executing two documents: A living will...

The sudden and severe impact of the novel coronavirus (COVID-19) pandemic has created much financial stress, but the crisis has also generated an intense need for charitable action. If you’re able to continue donating during this difficult period, the Coronavirus Aid, Relief, and Economic Security (CARES) Act may make it a little easier for you to do so, whether you’re a small or large donor. Tax benefits From an income tax perspective, the CARES Act has expanded charitable contribution deductions. Individual taxpayers who don’t itemize can take advantage of a new above-the-line $300 deduction for cash contributions to qualified charities in 2020...

COVID-19 revealed a clear liquidity need in the U.S., making the phrase “cash is king” ring truer than ever. The Small Business Administration reports that businesses tapped $510...

Wellness is a $4.2 dollar trillion industry, according to the Global Wellness Institute. The term “wellness” usually focuses on health, but financial wellness matters, too. Money is routinely the most common stressor in American Psychological Association stress surveys, and as we know, stress kills...

When saving for retirement, you're probably aware of the benefits of using tax-preferred accounts such as 401(k)s and IRAs. But you may not be aware of another type of tax-preferred account that may prove very useful, not only during your working years but also in retirement: the health savings account (HSA). HSA in a nutshell An HSA is a tax-advantaged account that's paired with a high-deductible health plan (HDHP). You can't establish or contribute to an HSA unless you are enrolled in an HDHP...