Financial Planning
Tax 101: Back to Basics
Benjamin Franklin said, “Nothing is certain but death and taxes”. Taxes play a crucial role in shaping our financial landscape. Understanding their nuance is key to helping make informed financial decisions. To assist, we developed a primer on the basics, specifically how they impact your income and investments. We focus on Federal taxes, as each…
Property and Casualty Insurance
Property and Casualty Insurance: Don’t leave home without it! A major crisis. Last year, a friend’s parents’ life took an unexpected turn. While on vacation, they received a devastating phone call informing them a fire destroyed their home and belongings. Left only with the clothes they had packed; they returned to assess the damage and…
Rethinking Your Retirement Savings
Employees are often advised to contribute the maximum amount to their 401k for tax savings and compounding potential. However, for high earners this may not always be the best choice. Surprised? Hear us out. In a traditional 401k, individuals can contribute a portion of their pre-tax income, up to $22,500 for 2023, which grows tax-deferred…
Life Insurance 101
The concept of insurance is simple. It is financial protection for when something bad happens. Car insurance protects you and your car, home insurance protects your property, and health insurance covers unexpected medical issues. Somehow, that simplicity scurries when the discussion switches to life insurance. It could be the fear of an insurance salesperson presenting…
Secure Act 2.0
On December 23rd, 2022 the U.S House of Representatives passed an omnibus spending bill that includes the much-anticipated SECURE Act 2.0. The original SECURE Act passed in December 2019 and brought a wide range of changes, most notably extending the RMD age to 72, and ending the ‘stretch’ IRA. The original SECURE Act is what…
Saving for College
A Guide to Common College Savings Vehicles One of the most challenging discussions we have with young families is helping them think about the intimidating costs of higher education. Not only is college expensive today, but the cost seems to increase at a higher rate every year. In this piece we compare the most popular…
RMD Rules from Secure Act Become Clearer- Kind of…
We finally have an answer to one of the most frequently asked questions of 2022,“Do people who inherited an IRA in 2020 or 2021, and who are subject to the SECURE Act’s new 10-Year Rule have to take a Required Minimum Distribution (RMD) this year.” The short answer is NO. The original interpretation of the…
Estate Planning 101
The Basics Estate planning is the most overlooked area in people’s financial lives. It often gets ignored or put off for a variety of reasons, whether it’s too expensive, too complicated or because people don’t think they have enough assets to need it. Estate planning is important for everyone. We created a guide to help…
Back to Basics: Building an Emergency Fund
One of the most boring but essential pieces of a successful financial plan is creating an emergency fund. Without it, a plan can fall apart instantly. In this article we will discuss what it is, why you need one and how to set one up. What is an Emergency Fund? Regardless of your net…
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