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Planning

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.

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 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.

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?

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.

Taking a Look at Social Security

Taking a Look at Social Security

When planning for retirement, we believe that identifying the sources of income that may be available to you in retirement is critical to a secure and comfortable retirement. While some may generate income from the wealth they’ve accumulated in their 401(k) plans, others may benefit from the income provided by a pension plan or annuity. While we believe that supplemental retirement savings and income strategies are necessary for a more satisfying retirement, Social Security continues to provide a basic source of income for many in their retirement years.

Making a Million Dollars

Making a Million Dollars

A million dollars. For many, it’s an amount that conjures up thoughts of a lavish lifestyle, a comfortable retirement, and even the means to leave a legacy to one’s heirs. Indeed, a million dollars is a lot of money. In fact, $1 million in dollar bills weighs about a ton, and if one were to count that million one dollar at a time, it would take about 12 days of non-stop counting!1

Trends in Generational Saving

Trends in Generational Saving

Generations are formed over time as groups of individuals who have experienced many of the same political events, as well as social and economic trends. As a result, certain character traits such as their financial outlooks may vary across different generations.

Protect Yourself from Tax Identity Theft

Protect Yourself from Tax Identity Theft

You may not even know your tax identity has been stolen until you file your return. Only then do you find out that someone has already claimed a refund – in your name. This type of fraud is a serious problem, and is getting worse. Here's what you need to know

Why you might need an Advisor NOW.

Why you might need an Advisor NOW.

We recently surveyed a few of our clients to find out what led them to partner with an Advisor for the first time.  Based on this feedback we identified four key questions to ask yourself about your financial life.  Are you in any of these situations?  How would you answer these questions?