I personally don’t believe in New Year resolutions – I think you can start doing something new, different, or better at any time that is right for you! Having said that, the beginning of the year is a great time to get a jump on managing your taxes.
When a client is moving for one reason or another, a common question we get is whether they should rent or buy their next place.
Managing your debt may seem like a daunting task but the benefits of careful planning are invaluable. Debt is a major concern for many Americans and for good reason.
A core tenant in financial planning is to focus on the controllable. For most of our clients, how much they contribute to their savings while working, and how much they plan to spend in retirement, have the greatest impact on the success of the plan.
As the leaves begin to change and our thoughts shift towards the year-end holidays, it is also time to start thinking about upcoming changes in 2024. Retirement plan contributions: 50+ catch-up retirement contributions
Nowadays, the 529 plan is ubiquitous among those families with children planning on or going to college. The advantages are obvious – tax-deferred growth of savings, potential tax-free distributions, and often a state tax deduction for the investor.
In today's dynamic financial landscape, individuals seek innovative and effective ways to protect their assets while maximizing financial benefits for themselves and their family. One such strategy that has gained popularity in recent years is the Spousal Lifetime Access Trust (SLAT). SLATs provide a unique opportunity for married couples to protect their wealth, reduce estate taxes, and maintain control over their assets, all while ensuring financial security for their spouses.
"Artificial Intelligence," or simply "AI" is a catchphrase these days. The concept of having a computer perform tasks using human-like intelligence and discernment makes it feel like the next chapter in a sci-fi novel is here. The use of AI seems to have found practical use in almost all sectors of our economy. From commercial use, defense, entertainment, and even politics, AI has revolutionized the way we do things daily.
It is an age-old question — How to budget money? And it is one that I wish I knew the answer to back when I first started earning an income. I would spend many late nights staring at the ceiling wondering where my income was going and why I struggled to afford some of the basic necessities in life.
Going through a divorce during COVID was not easy. There was a lot to disentangle, especially finances, after being married so many years. Like many people, my number one concern was having a positive cash flow, not only after the divorce but 5, 10 or 20 years in the future. Would I have enough to live on? Do I want the house and, if not, where will I live and what will it cost? Can I maintain my lifestyle? So many questions and at first – so few answers.
