Clearing the Air on 401(K) Hardship Withdrawals

Clearing the Air on 401(K) Hardship Withdrawals

When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan.

The Changing Face of America: Dual Income Families

The Changing Face of America: Dual Income Families

The concept of the “traditional” American family is continually changing. The dual income family—with both spouses maintaining separate careers and contributing to the financial success of the household—has now become commonplace.

Remarkable Rise Of ESG Investing

Remarkable Rise Of ESG Investing

Responsible investing is widely understood as the integration of environmental, social and governance factors – hence the ESG acronym – into investment processes and decision-making. ESG factors cover a wide spectrum of issues that traditionally are not part of financial analysis, yet may have financial relevance for investor

Family Business—Laying the Groundwork for Success

Family Business—Laying the Groundwork for Success

Involving family members in your business isn’t a course of action to take lightly. If you are considering this option, it is best to approach it as seriously and professionally as you would any other business venture.

A Look at Tax Planning for Retirement

A Look at Tax Planning for Retirement

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS.

3 Gurus' Timeless Wisdom

3 Gurus' Timeless Wisdom

Follow investment gurus to avoid investment mistakes. When things seem unsettled, a trio of these savants offer timeless advice you should heed.

Such words of wisdom are especially appropriate amid current turbulent circumstances: a rocky bond market that perhaps signals the end of a 30-year bull run, U.S. stocks recently hitting new highs, troubling overseas developments such as Syria’s civil war and the ongoing fight in Congress.

Advanced Philanthropy - Private Foundations

Advanced Philanthropy - Private Foundations

For many affluent individuals, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often substantial tax deduction, coupled with various estate planning benefits, is sometimes the driving force behind such charitable gifts. However, for some individuals, philanthropy is a far more serious endeavor, often involving a succession of substantial gifts of at least $5 to $10 million that may necessitate the need for control and general oversight. In such situations, a private foundation can be an ideal mechanism for managing a large, continuous charitable giving program.

3 Financial Planning Steps

3 Financial Planning Steps

Organization, efficiency and discipline are the three primary steps of financial planning. Organization is knowing where your money comes and goes. An efficient portfolio means a better chance of profits, and discipline keeps you on the right track.

Making College More Affordable with 529 Plans

Making College More Affordable with 529 Plans

Unfortunately, the affordability of a college education is seemingly out of reach for many Americans: in-state tuition and fees at public universities have increased by a staggering 237 percent over the course of the past 20 years.1 Choosing an appropriate savings plan may make a big difference.

Health Savings Account / Flexible Spending Account

Health Savings Account / Flexible Spending Account

In 2015 the average American spent $9,990 on healthcare. Compare that figure to $146 ($1164.55 with inflation calculated) in 19601 and it’s evident that healthcare costs have increased appreciably. Fortunately, there are pre-tax programs you can utilize to help lessen the burden of healthcare expenses.

EMPTY NESTERS

EMPTY NESTERS

One commonality that can be found in parents across virtually all species in the animal kingdom is the will to sacrifice life and limb to protect and provide for their offspring.

The Uncommon Average

The Uncommon Average

When setting expectations, it’s helpful to see the range of outcomes experienced by investors historically. For example, how often have the stock market’s annual returns actually aligned with its long-term average?

Talking about Budgets & Cash Flow

Talking about Budgets & Cash Flow

A special thanks to Birmingham City Schools Service Department for having us out to talk about Financial Wellness.  We spent the morning discussing how budgets, cash flow, and debt management form the foundation for financial success.

SOLVING THE MYSTERY OF AN AFTERLIFE

SOLVING THE MYSTERY OF AN AFTERLIFE

What happens when we pass away? Depending on your spiritual and religious beliefs, there are many theories. The ancient Egyptians believed in an afterlife, and their pyramids and lavish tombs are a testament of this. Other cultures and religious sects have their own unique practices, and many make decisions with the intentions of securing an existence in the afterlife. No matter what you believe, one thing is for sure: life on earth will continue after you pass. As a result, many use estate planning tools to help ensure that what they have worked so hard for in this life will be passed on according to their wishes.

BORROWING FROM YOUR 401(k)

BORROWING FROM YOUR 401(k)

You’ve got a home improvement project slated for next spring, and you don’t plan on retiring for quite some time. What’s the harm in taking a small loan from your 401(k)? The money is just sitting there…and technically it is your money…right?

Life Insurance: A Key Component of a Financial Plan

Life Insurance: A Key Component of a Financial Plan

Planning for our later years, or saving to accomplish certain goals, tend to be the primary focus for many in financial planning. Equally important, we believe, is the importance of incorporating life insurance strategies into a financial plan that will address specific needs such as providing for loved ones, or ensuring a business’ continuity, if and when one is gone.

As Year-End Approaches...

As Year-End Approaches...

Before the ball drops on New Year’s Eve, consider implementing some strategies that may help you to be better positioned financially for 2018, and potentially beyond.