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Financial markets have experienced quite a bit of change this year in just two short months. We started the year hopeful that stocks would benefit from a better economic and monetary policy environment by the spring, but recent developments suggest that may be further out than we initially thought. We remain confident that a new bull market will come—it just may require a bit more of our patience before we get there.When 2023 began, we had hoped for a new bull market to bloom in the spring

Financial markets have experienced quite a bit of change this year in just two short months. We started the year hopeful that stocks would benefit from a better economic and monetary policy environment by the spring, but recent developments suggest that may be further out than we initially thought. We remain confident that a new bull market will come—it just may require a bit more of our patience before we get there.When 2023 began, we had hoped for a new bull market to bloom in the spring

Everyone needs to clean-up their financial clutter at least once a year   Spring is traditionally the time to clean the garage and to get the yard in shape. It’s also a great time to clean up your investment portfolio. Going into the final days of tax season, this is a perfect opportunity to get rid of clutter, review your asset allocations and make the necessary changes if your portfolio has strayed from your financial plan. Here are seven steps to making your portfolio cleaner and

Financial markets were shaken last week as Silicon Valley Bank (SVB), the California bank subsidiary of SVB Financial Group (SIVB), fell into FDIC receivership. SVB is the first FDIC-insured institution to fail since 2020 and the largest by assets since Washington Mutual failed in 2008. Prior to the latest distress, the bank held more than $200 billion in assets. SVB’s failure was then followed by another over the weekend, crypto-focused Signature Bank. The news, not surprisingly, caused m

Have you every wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here’s a quick look at some steps you should consider taking in order to help prepare your family and to manage potential expenses in the event of your death.  1. Draft a Will. A formal, legal document directing the settlement of your estate provides for the distributions of your assets according to your wish

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a substantial tax bill. However, if assets in your traditional IRA have lost value, you will pay taxes on a lower asset base when you convert. If all conditions are met, the Roth account will incur no further income tax liability for you or your designated beneficiaries,

Financial wellness is a state of being when one is in control of their finances, can cover expenses, and save for future goals. Consider financial wellness as your relationship with money; it can be either healthy or unhealthy. Financial wellness is essential to being financially secure and meeting your goals. Here are ten tips to help you develop financial wellness this year:Tip #1- Check that your income and spending are in balance. You must be aware of your spending patterns, limit your use o

Identity theft runs rampant during tax season   Here’s what to know and how you can help protect yourself. Identity thieves often swipe your bank or credit card account numbers, birth date information or Social Security Number (SSN) to steal from your accounts, open a new and phony account or make illegal purchases. Some 15.4 million consumers were victims of identity theft or fraud last year, according to a report from Javelin Strategy & Research. All sorts of nefarious schemer

We wish you a happy New Year and hope you were able to close out 2022 with friends and family. The beginning of a calendar year is often the time when the previous year’s reflections transition to a new year’s hopes. Given the market’s continued instability during 2022 and a resulting tough period for stock and bond prices, everyone is hoping for a fresh start. And history gives us cause for optimism following a difficult year. While each new year brings its own unique circumst

Tax preparation tools and products continue to evolve even more quickly than the federal tax code itself. Which tax prep tools are worth the hype, and which may be passed over? Below we discuss five high-tech tools to help make tax time as simple and streamlined as possible. Receipt-Organizing Apps If you're deciding whether it makes more sense to itemize your deductions, it may be time-intensive to track down all the receipts needed to determine which option is preferable. Receipt-organizi

Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to improve your fiscal health? Here are 12 financial resolutions to consider.Work on a resolution each month in whatever order works for you, and by the end of the year, you may feel a lot happier about your relationship with money. 1. Create a Budget Sit do

Making a charitable donation is a wonderful way to share your gits with your community and organizations that are important to you.  Understanding the tax implications of your gifts is important and can often require that you plan in advance of your gift. Charitable donations are generally tax deductible, which means that individuals and businesses can reduce their taxable income by the amount they donate to qualified charitable organizations. The exact amount of the deduction and the speci

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets and global economy or what’s happening in our local communities, the news we’re hearing on a daily basis has the potential to disrupt the balance of our lives. But with resilience, perspective, and the support of close connections, we can navigate throu

Tax planning can be more advantageous when done during the year and well in advance of year’s end. Opportunities may exist for you to minimize tax liability, which could leave more income for you and/or your family. Generally, people put off tax planning because paying income taxes is an obligation. So, this “negative” view causes frustration. It is often simpler to say, “Let’s see how everything shakes out betweenJanuary 1 and April 15.” However, after D

THINGS TO CONSIDER GOING INTO “THE NEW YEAR" (YEAR-END PLANNING CHECKLIST)   The end of the year is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming. Consider breaking up the responsibilities over twelve days, focusing on one each day, and ensuring it gets a comprehensive review.   ?  DAY 1 – Reviewed my financial plan in preparation for meeting

After a busy life on the farm, you may be looking at the next steps and addressing how you plan to pass on the property, land, and assets that you worked so hard throughout your life for. While many people may feel they do not need an estate plan if they aren't wealthy, it is crucial to help ensure that your property goes to who you designate and helps create the least amount of burden for them. So if you are ready to begin your estate planning, there are a few items to consider before getti

Black Friday is sometimes the largest shopping holiday of the entire year. Millions of people typically shop in stores or online on Black Friday to score the top deals on must-have holiday gifts. While it may be easy to become overwhelmed by Black Friday deals, it is always helpful to practice good budgeting to keep yourself from overspending or purchasing more items than you need. Check out some helpful budgeting tips to help you stay on track while taking advantage of Black Friday deals. 1. Wo

The S&P 500 does best when one party controls Congress and the WH too   The 2022 Midterm Elections will feature hundreds of hotly contested races at the state and local level and will decide whether the Democrats maintain – or the Republicans gain – control of Congress. Irrespective of what the polls suggest will happen – and without getting into any political discussions – let’s explore what impacts the 2022 Midterm Elections might have on U.S s

Why did you purchase life insurance? If you're like most people who buy life insurance, you're looking to provide a source of income for someone (e.g., a spouse, parent, or child) after you die. Buying the policy was the first step. Now you'll need to do a little more work to ensure that the money you leave behind lasts. You can never leave too much. or can you? First, make sure what you'll leave behind is enough. Review your insurance needs annually, or more often if necessary.

If you are self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. Tax advantages A retirement plan can have significant tax advantages: Your contributions are deductible when madeYour contributions aren't taxed to an employee until distributed from the planMoney in the retirement program grows tax deferred (or, in the case of Roth accounts, potentially

When it comes to saving for retirement, the options can seem endless. From 401(k) plans to IRAs, to Roth IRAs, health savings accounts, even life insurance policies, there are a variety of financial vehicles that allow you to set aside and invest funds for your future. But when it comes down to allocating your funds between accounts, what should you consider? Here we discuss the basics of the 401(k) vs. life insurance debate.  How Life Insurance Can Help You Save for Retirement Term life i

Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs may then decrease after your children are grown. You should periodically review your needs to ensure that your life insurance coverage adequately reflects your life situation. Estimating your life insurance need There are a couple of simple methods that you can use

Investing for your retirement isn't about getting rich quick. More often, it's about having a game plan that you can live with over a long time. You wouldn't expect to be able to play the piano without learning the basics and practicing. Investing for your retirement over the long term also takes a little knowledge and discipline. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal,

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of Washington D.C., with a Schumer-Manchin agreement on a climate-healthcare-tax bill and some inflation data that added to the evidence that inflation has peaked. Stocks expressed approval of this news, securing its second straight solidly positive week. The S&P 500

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride that has given heartburn to financial professionals and investors alike.For retirees and seniors on a fixed income, the true costs of inflation and market volatility can be much higher—potentially jeopardizing a comfortable retirement. Though Social Security

As a small-business owner, you may be looking for the next big thing—an investment that might double your profits within the next year or allow you to maintain your income while working just a few hours a week. However, business success may depend on many incremental investments you make along the way. By including investments that fall outside the financial realm, you may better position your business and yourself to take advantage of future opportunities. Here are four key investments th

Though baseball and stock market investing may not seem to have much in common, there are a few key similarities—both are stats-driven and require focus, a relative lack of emotion, and a clear mind. And when it comes to investing, you would probably rather emulate Babe Ruth than Bill Buckner. Here we discuss three common investing mistakes that every major league investor should try to avoid. Swinging For the Fences on Every Pitch As any baseball fan knows, with the exception of the Home

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire.It sounds a little crazy, doesn't it? But that's what investing without setting clear-cut goals is like. If you're lucky, you may end up with enough money to meet your needs, but you have no way to know for sure. How do you set investment goals? Setting investment goals means defining your dreams for t

Corporate wellness programs have been key tools in improving productivity, employee retention, and creating a more desirable corporate culture. While many companies have put a strong focus on physical wellness plans, many are just touching on the surfaces of other vital components of a wellness program, such as emotional, financial, and social wellness. By including social wellness as part of the corporate wellness policy, you can better improve the things that help bring happiness and stability

Today, many individuals are finding it necessary to help elderly parents or relatives manage their personal finances. One area of particular concern is property management. This issue may arise when seniors reach their late seventies or older, and plans that may have proven satisfactory at age 65 may require a second look. If you have an aging parent or relative, the following arrangements can assist you in addressing this concern:  Durable Power of Attorney—This mechanism allows elde

Almost half of all adults are part of the "sandwich generation." These are adults in their 40s and 50s who are helping support or care for a parent while also supporting or caring for a child.1 Being caught between two generations of loved ones who require care can be both financially and emotionally draining, but there are ways to reduce the pressure. Here are three financial planning challenges the sandwich generation is likely to face—and some strategies to address them. Chall

Whether you dream of a travel-filled retirement or would prefer to relax and enjoy spending more time at home, you are probably wondering what you might consider to make your golden years as stress-free as possible.  For those who spent the last several decades in a wealth-accumulation mode, withdrawing savings may trigger anxieties about the future. Some of the choices you may make during the earliest years of retirement may significantly alter the speed with which you spend down your reti