End-of-Summer Financial Reset: Preparing for Q4 Tax Planning

If you plan to ‘age in place,’ it’s important to discuss your intention with your family and financial advisor now to prepare for and make it possible. The U.S. population continues to age, with the baby boomer generation now the largest generation ever.

If you have multiple or only a few retirement ‘nest eggs,’ now is an excellent time for us to discuss how taxes will impact you this year or in the future.

In November 2019, the Internal Revenue Service (IRS) announced the cost of living adjustments for 2020 for most retirement savings plans. However, IRA contribution limits will stay the same.

Here we are, already to the end of 2019! The end of a year and the start of a new one is when most people decide to clean up and implement changes in some areas of their lives.

Social Security Retirement benefits are set to increase in 2020- a modest 1.6% increase for the average retired worker that adds an extra $24 per month to their retirement check. Retired couples will see their combined benefits grow to $40 per month.

The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade on a worldwide scale. It is a place for member countries to settle arguments and negotiate trade deals.

The demographics of retirement and a ‘retired person’ is rapidly changing worldwide. Over the past 200 years, there have been remarkable changes in health and wealth around the globe.

Due to the duration risk of holding assets over time, a normal yield curve shows that bonds with a longer maturity have a higher yield and pay more interest than short-term bonds.

The financial services industry has classified “advice” as financial planning, not investment advice (the selection of investments), which is just one part of wealth management.

A 529 plan is a state-sponsored tax-advantaged plan designed for saving for future education expenses that are authorized by Section 529 of the Internal Revenue Code. If used for education, the assets grow tax-free.

In light of recent media reports on stock market performance, political issues, scandals, and other ‘news-worthy stories,’ keeping yourself removed from media as much as possible may be right for you and your investments.

With real estate prices recovering to where they were pre-2008 in most of the U.S; many people are buying U.S. vacation homes, and homes abroad for various reasons.

At some point, a successful business faces liquidation for all the right reasons. The business owner has built an asset that is now positioned to sell to another individual, a group of investors, or be acquired by a large corporation.

What is underway as one of the most significant changes to retirement savings plans in years, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) was passed in May 2019 by the U.S. House of Representatives.

The financial advice industry has changed for advisors with a fiduciary financial planning emphasis in their practice. These advisors have chosen process over product for the benefit of their clients.

The average American worker stays at a job only 4.2 years, and many had funded retirement accounts they’ve left with the employer’s plan custodian when they moved to a new job.

Couple’s spend many hours planning and a significant amount of money on their wedding, but personal finances and protecting assets deserve just as much attention and planning.

In the world of retirement planning , Social Security retirement benefits, referred to as Old Age and Survivors Insurance by the Social Security Administration (OASI), are still included as a source of income in retirement, but should it be?

In our working years, we work and save toward retiring someday, creating our retirement story. Our story may include daily golfing, living somewhere different, or participating in activities we enjoy each day that help to fill our minds with a picture of our r

2018 was a record year for fraud in the U.S. and twenty-one other countries, according to Experian’s 2019 Global Identity and Fraud Report released earlier this year (February 2019). As the digital world advances, so does fraud.