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The journey to prosperity involves more than just a high income. It requires strategic planning, wise investment decisions, and a keen understanding of your financial landscape. On Financial Professional Day, explore how working with...

The world of personal taxation and tax deductions can often be puzzling. While these elements aid in reducing one's tax burden, they may also come with unexpected limitations. These limitations can take taxpayers by surprise, reducing...

In today’s fast-paced environment, careful financial planning is crucial when it comes to growing and preserving your wealth. The decisions you make today could have a lasting impact on your finances. Please use the checklist below to...

High-net-worth individuals (HNWIs) often face a complex financial landscape characterized by diverse investments and sophisticated financial concerns. They require comprehensive financial planning to preserve and manage their wealth....

Understanding the guidelines surrounding Required Minimum Distributions (RMDs) becomes crucial as we navigate the complexities of personal finance and retirement planning. For those who have inherited retirement accounts or are...

Faith-based investing, or biblically responsible investing, is socially responsible or moral investing rooted in religious principles. Often, individuals and institutional investors, such as high-net-worth (HNW) investors, are drawn to...

Even if you're saving money in a 401(k), IRA, or another type of retirement account, you may not be paying much attention to the specific rules and regulations governing these accounts. After all, if you're years away from retirement,...

Many are interested in the impact of future tax legislation on Trusts. As we look ahead to 2025, it is crucial to understand how the evolving tax landscape may impact the administration, structuring, and distribution of Trusts. The Tax...

Looking back, 2024 clearly echoed many of the themes from 2023. By and large, the economy continued to defy expectations and surprised once again. Stocks continued their strong performance, driven by powerful trends in artificial...

On Giving Tuesday1—the day after Cyber Monday—millions of people across the world focus their attention on giving back. Whether as a way to eke out meaningful legacies or trim your tax bills, end-of-year philanthropy is a good cause...

Charitable giving is a way for you to participate in something meaningful to you and your family, a cause that aligns with your core values while benefiting members of the community. People can benefit greatly from giving – personally,...

Like other sectors, philanthropy experiences trends that shape giving. These trends positively impact broader societal goals that many high-net-worth (HNW) philanthropists strive toward. Here are five trends reshaping giving for HNW...

In 2017, the passing of the Tax Cuts and Jobs Act (TCJA) offered many different taxpayers a variety of benefits including changing deductions, depreciation, expensing, tax credits, and other tax-related items. The provisions were never...

Between work commitments, children’s schedules, and fall cleaning, how much time is left in our busy days to think about financial planning? Many of us choose to delay thinking about our finances until much later or to manage them on...

The 401(k) plan is an excellent way for HENRYs, high earners not rich yet, to save for retirement. Hitting the maximum contribution limit is a goal many work toward to reap the benefits of this tax-deferred saving strategy fully. But...

Inheriting comes with many emotions, from sadness to confusion to perhaps even joy or relief. An inheritance can take various forms, such as cash, properties, stocks, bonds, property, or other assets. The person leaving the inheritance...

If you're someone who loves nothing more than spending a relaxing day at the beach, you likely hope your retirement plans will let you spend much more time there. By applying ‘beach day’ lessons toward your investment strategies,...

Many dream of working toward early retirement, but getting there generally doesn’t happen by accident. Retiring early requires financial independence that can last for decades, but that is much easier said than done. To get there...

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth (HNW) individuals in the sandwich generation. "Sandwich generation" refers to individuals caring for their aging parents and...

As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation....

“A penny saved is a penny earned.” This nugget of financial wisdom from Benjamin Franklin, shared in the late 1700s, remains as relevant today as it was then. Despite living in a different era, our founding fathers were remarkably...

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood. If not, try to imagine how it might be if your...

As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon. But time has a way of flying by, and you realize that maybe you are not...

As an affluent family, planning for your children's education is likely a top priority. You want to ensure that they have access to the best education possible without worrying about the high cost of tuition; this is where 529 plans...

Did you know, according to CNBC, more Americans are expected to turn 65 through 2027 than at any other time in history? This rapid population increase of older adults is often called the “Silver or Gray Tsunami,” though many new...

When it comes to financial accounts like the IRA, details are everything. Look past the surface, examine it closer, and you may be surprised that numerous accounts, including your IRAs, contain hidden gems and little-known facts you...

If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that your Social Security benefit would not be enough to sustain you in...

Most American workers who earn wage income and pay Social Security taxes via withholding receive Social Security benefits at some point in retirement. While the Social Security Administration has tried to make the process easier to...

When filing your income taxes, each taxpayer is different. Some prefer reducing the taxes they owe and getting the most significant possible refund, while others work to keep the taxes they pay as low as legally required. The IRS...

If you have a 529 education savings plan, it can now be converted to a Roth IRA. Both plans are funded by after-tax money. Initially, the money put into a 529 plan had to be used toward education expenses. If, for whatever reason, the...

Approximately 60 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to...

On December 29th, 2022, the Omnibus Appropriations package was signed into law, introducing over 90 new provisions to enable employees and employers alike to establish or update their retirement plans and strategies. Through these new...

Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial. Whether due to...

Navigating these demands an adaptable approach to planning your finances As we kick off 2024, the world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate...

The newest generation of upcoming retirees is facing a more unique and prominent dilemma than past generations have experienced: caring for family members at the same time they’re preparing for retirement. There are plenty of...

Retiring early as a couple is a goal shared by many, and if planned comprehensively, it may provide opportunities for travel, passion projects, and more quality time together. Retiring simultaneously can bring many benefits, such as...

Stocks are off to a solid start in 2024. January gains are particularly enjoyable because of the old adage from the Stock Trader’s Almanac, “As goes January, so goes the year.” Nearly 75 years of historical data shows...

As high-net-worth individuals navigate the complexities of financial planning during their working years, one critical aspect often goes overlooked—long-term care. In 2021, the median monthly cost of a private room in a nursing...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include: If you have income from working in retirement....

While protecting your financial data has always been important, it grows even more critical as you start planning for retirement. From preserving your retirement savings to maintaining financial independence to avoiding stress, you...

Asset management and financial wellness can help develop long-term confidence when wealth transfers from generation to generation. Understanding and implementing financial wellness techniques is essential for effectively sharing wealth...

For high-net-worth individuals (HNWIs), implementing healthy financial behaviors is crucial to maintaining their assets and growing wealth. Regardless of having significant financial means, embracing healthy financial behaviors must...

Whether you are just entering your golden years or are already several years in, setting goals to stay on track and maintain your health, happiness, and finances is essential. So why not use the New Year's holiday to turn these goals...

In 2024, LPL Research believes markets will make a definitive turn to a more recognizable place. En route, the transition will be marked by meaningful shifts in a few key areas. Inflation is going down. The risk of a recession is...

Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to...

When it comes to your estate plan, you don’t just have it drafted and put away until it is time for your loved ones to manage your lifetime of affairs. As your world changes year by year, it is critical that you review your...

Dear Valued Investor, Solid gains for both stocks and bonds gave investors a November to remember. As financial markets continue to defy skeptics, I’m reminded of a quote from Warren Buffett’s long-time partner and one of...

As the year’s end approaches, High-Net-Worth Individuals (HNWIs) must prepare for one of the most critical monetary tasks: year-end tax planning. Due to the nature of their holdings and dynamic financial situation, HNWIs often...

Long-term care (LTC) planning is a significant financial decision that requires thoughtful consideration and precise planning. This undertaking can be more complex for high-net-worth families due to a more extensive and diverse asset...

Thanksgiving is a holiday for spending time with loved ones, being grateful, and perhaps enjoying a bit of overindulgence. There are many financial lessons to be had in planning, preparing, and celebrating this annual feast.1 Here are...

Having a desire to give and a philanthropic mindset are both important qualities to possess in modern society. With so many economic and social challenges in society, contributions to charities and philanthropy efforts are needed now...

As the end of the year approaches, investors need to focus on tax-related considerations, particularly regarding capital gains. Year-end tax planning can help investors manage their overall tax liability while seeking to manage...

In the world of investing, the "holiday effect," as it is often referred to, is a phenomenon where stock prices see an increase right before a major holiday. There are many theories on why this may occur. It could be from trading...

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a...

Scammers are one of the biggest unseen threats out there, and they are especially dangerous to the most vulnerable—the elderly population. In fact, more than $1.7 billion was lost in 2021 among the sixty-plus age group, a 74...

You may sometimes hear the terms "estate planning" and "asset protection" used interchangeably. They actually have different meanings, and it's important to incorporate both strategies into future financial plans. Below, we discuss key...

Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail? Analysts suggest there are four designated phases of retirement that a person often...

Dear Valued Investor, The S&P 500 lost 3.3% in the third quarter after sliding nearly 5% in September. Putting this into perspective, nothing really qualifies as out of the ordinary. Since 1950, the S&P 500 has historically declined in...

Now is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial...

When it comes to financial planning, people often think of financial professionals as people who assist with strategies for retirement planning. That is one aspect of their job; however, financial planning and working with a financial...

Do you consider yourself a high-net-worth individual (HNWI)? Most people tend not to categorize themselves or see themselves as anything more than a spouse, parent, sibling, neighbor, boss, or business owner. However, society does...

Paying the college Tuition payments made directly to a college aren't considered taxable gifts, no matter how large the payment. But this is true only for tuition, not room and board, books, or fees. As the cost of a college education...

September 6, 2023 Dear Valued Investor, Financial markets lived up to their reputation during the month of August, which has a record for being difficult. On the first day of August, markets had to contend with a downgrade of U.S....

Matching your tolerance for risk with your investment objectives Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like...

Retirement planning is a constantly evolving process. Strategies that may have worked fine a few years ago may no longer be the optimal direction to continue. Your life may have taken unexpected turns, you may have different retirement...

If you're considering giving back to society or a cause as part of your financial planning, there are many ways you can do so. You can make an impact while receiving tax benefits by including philanthropic giving as part of a holistic...

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. And asset allocation and diversification alone cannot guarantee a profit or eliminate...

Making economic forecasts and stock market predictions can be humbling. It’s especially tough when you expect stocks to go higher and get a big drop instead. The environment today is the opposite, but still tricky, as recession...

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy...

Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical...

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change. It’s a theme...

The “Sandwich Generation” faces a lot of struggles. If you’re unfamiliar with this term, it describes a demographic where usually middle-aged individuals must support aging parents at the same time they’re...

If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves...

Many investors still adhere to the old adage—"sell in May and go away"—while others remain fully invested even as the summer heat waves begin. What goes unsaid is that if your asset allocation accurately reflects your risk...

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

Philanthropy today is different than it was in the past. It was once common for donors to distribute their wealth through smaller grants to numerous organizations. Over time, best practices for charitable giving have evolved, and...

June 7, 2023Dear Valued Investor,Every so often Washington likes to remind us how hard it can be to get things accomplished. The most recent example is the debt ceiling—the amount Congress can borrow to pay its bills. It seems...

Having enough retirement income is a top concern for many Americans nearing or in retirement. Even though they may have saved consistently throughout the working years, they may be concerned that their retirement plans will succeed. A...

After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to...

All gave some; some gave allMemorial Day is a federal holiday for remembering people who died in our country’s armed forces. Observed every year on the last Monday of May, Memorial Day is celebrated in lots of ways. Regardless of...

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and...

Setting healthy financial goals is critical. Even more important is staying committed to those financial goals.Keeping yourself committed to your goals may be difficult, especially when times may be financially tough. But by staying on...

Whether you are an employee in corporate America or a small business owner, retirement is a part of life. For many, the thought of retiring and whether or not you are ready to take those first steps might be overwhelming or...

Spring is often thought of as an uplifting time, marked by growth and renewed hope as we emerge from the long months of winter and look ahead to the rest of the year. Investors saw signs of such renewed hope in recent weeks, especially...

What is it?Life insurance is not only about protecting your survivors in the event of your death. Depending upon the type of policy you purchase, it can also enable you to meet specific life goals: retiring comfortably, paying for your...