5 Steps to Revisit Your Financial Plan This Fall
Don’t wait until December! As the seasons change, your financial goals might shift too. Read our tips on revisiting your financial plan this fall so you can end the year with confidence.
The Pros and Cons of Self-Directing Your Employer-Sponsored Retirement Account
While more investment choices may be appealing, there are some issues to be aware of before taking this direction.
Ask the Adviser: What is the Pro-Rata Rule and Formula for Converting an IRA to a Roth IRA?
Here, we break down the IRS pro-rata rule—a calculation that helps distinguish pre-tax and after-tax funds.
Ask the Adviser: How Can I Help My Children Achieve Financial Independence Without Spoiling Them?
Many parents want to help their family achieve financial independence without “spoiling” them. Discover how gifting through Roth IRAs and HSAs can provide a lasting legacy and tax-free growth for the next generation.
New Year, New Tax Laws
Two major tax law changes take effect in 2026—charitable deductions for non-itemizers and mandatory Roth catch-up contributions. Here’s what they mean for your retirement plan.
Three Questions to Ask When Inheriting an IRA in 2025
The distribution rules for inherited IRAs can be very confusing. Here, we look at three key questions to help you see through the fog and avoid unnecessary pitfalls.
Ask the Adviser: How can I start planning a tax-efficient 2025?
While we can’t be certain about all the possible changes, we do know that some legislation passed in previous years will begin to take effect in January.
Ask the Adviser: How Can I Guide My Grandchildren to Make Smart Money Choices?
Here are three practical ways to lead those who lack some of the financial skills you’ve gained in your lifetime.
Your 2024 Guide to Year-End Tax Planning
Reducing your tax liability means taking advantage of regulatory updates. We’ll look at some of the year’s tax law changes and opportunities.
Don’t Overlook HSAs as a Retirement Savings Vehicle
It’s a little-known fact that health savings accounts can provide an excellent way to save, invest, and take distributions—without paying taxes.
Ask the Adviser: How do I figure out what I actually spend in a year?
Calculating your annual spending isn’t quite as simple as it seems, and yet it’s key to creating an accurate financial plan. Follow this formula.
Retirement Savings and How to Make Time Work for You
Younger generations are lagging behind on target goals for retirement savings. Here, we will look at some simple strategies for catching up.
Ask the Adviser: Should I opt for an annuity inside my 401(k) plan?
An annuity creates an income stream while also incurring costs within the plan. We’ll evaluate the pros and cons.
Recapping Market Highlights and Most-Read Articles from 2023
This past year, we covered topics ranging from inflation and legislative changes to RMDs and asset allocation. Here is an overview.
How Retirement Savings are Changing in 2024
We reviewed the tax code updates for 2024. Here’s what to know about contributing to a variety of retirement accounts.
Whether You Are Retiring Now or in 10 Years, the Consolidated Appropriations Act Could Help You Save
Some changes take effect this year, and others are delayed until 2024, 2025, 2026, or even 2033.
Ask the Adviser: How can I best maintain my financial plan?
Much like caring for a vehicle, financial planning is an ongoing process—not a once-and-done event.
Are Roth Conversions Right for People Over 73?
Roth IRAs are not subject to RMD rules.
Learn These IRA Rules to Avoid Costly Penalties
Full of tricky timing concerns, the rules for IRA withdrawals are commonly misunderstood. Here, we explain five of them.
Ask the Adviser: How do I shop for the best rates on my cash?
Looking for ways to make your cash work for you without committing to a long-term investment? There are plenty of options available.
Don’t Overlook These Inflation-Related Opportunities
Discover several ways to offset inflation through tax-efficient saving in 2023.
The Pros and Cons of Paying off Your Mortgage Early
Wondering whether to close out your home loan ahead of schedule? We’ll look at the benefits of doing this—and when it might be better to invest in bonds instead.
Ask the Adviser: What are the pros and cons of Series I savings bonds?
Series I savings bonds combine relatively high returns with minimal risks—as long as inflation remains elevated.
Save Early, Save Often, and Save Tax Efficiently
Opportunistic tax planning can help extend the life of your retirement savings. Here’s how.
Hardship Withdrawals – What are the Real Costs?
Withdrawing money early from a retirement account is meant to be a last resort—and can come with consequences. Make sure you know these penalties and exemptions first.
Taking Inventory with Financial Tracking Apps
If managing your financial accounts feels clunky or time-consuming, a money management app can help you track spending, savings, and performance. Here are three to consider.
It Takes Planning to Reduce Your Medicare Premiums
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
Evaluating Where to Retire: Pennsylvania Vs. Surrounding States
Affordability, access to healthcare, climate, and culture are just some of the important factors to consider before moving to another state.
Cost of Healthcare for Retirees: Saving Tax Efficiently Can Have a Big Impact
Retirees will need to pay close attention to means-testing levels to help contain healthcare costs. This requires careful planning before retirement.
The Potential Dangers of Rolling Your Company Stock into an IRA
If you own large quantities of company stock held within a retirement plan, rolling it into a tax-deferred IRA may not be the best strategy. Learn when a Net Unrealized Appreciation (NUA) transaction is the right choice to maximize your tax efficiency.
Contributing Too Much to Your IRA Can Cost You
Learn about contribution limits for traditional and Roth IRAs and get advice on how to minimize penalties if you’ve contributed too much in a given year.
As You Approach Retirement, How You Save is Extremely Important
In planning for retirement, how you save is just as important as how much you save. Learn how you can save tax-efficiently by diversifying your assets across accounts that are taxed differently.
Are Your Heirs Ready? 3 Lessons to Teach Children About Wealth Now
Steps you can take to help ensure that your wealth helps future generations.
Is Your Vacation Home a Residence or a Rental Property?
Understand how the IRS differentiates between these investments when planning how to use the property personally.
What We Can Learn from the Habits of Wealthy People
Not wanting to be poor when I grew up, I decided the best course of action was to study people who had money. This fascination set me on a lifelong course of studying wealthy and successful people.
Are You Due to Reevaluate and Switch Your Car Insurance?
Many advisers recommend shopping your automobile policy every two to three years. There are many factors that could have changed since you began insuring through your current carrier.
Thinking of Helping Out Your Adult Child(ren) Financially? You Might Not be Helping.
A recent study1 conducted for Northwestern Mutual found one in three Baby Boomers (33%), the generation closest to retirement age, have less than $25,000 in retirement savings.
How the Death of a Spouse Affects Taxes and Retirement Income
Many people mistakenly believe their expenses will be half as much as a widow(er) than as a couple. This is true of some expenses, like food and clothing. However, larger expenses related…
Roth IRAs
Roth IRAs are a great way to save for retirement. But what if you have more money to contribute than is allowed in a Roth IRA? We’ll provide important retirement savings tips…
How to Deal with the Death of a Spouse From a Financial Perspective
It will come as no surprise that the death of a spouse is consistently listed as one of the most stressful life events a person will face. Death is part of life…
Teach Your Children Well – Or They Are Likely to Waste Their Inheritance
Studies estimate the baby boom generation is set to inherit $11.6 trillion over the next 20 years from their parents. The baby boomers are expected to pass on as much…
Do You Hold Title Correctly for Your Real Estate?
Property title questions during financial planning interviews often draw blank stares. Yet, understanding the differences among tenants-in-common, joint tenancy and community property is important for creditor protection issues, estate planning,…
