facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause

Blog

Information provided on this page is informational only. Nothing posted here should be considered investment advice. Please review your financial situation with a qualified financial professional before taking action. For more information please see our disclosure.

%POST_TITLE% Thumbnail

Should You Buy an Annuity? - When an Annuity is (and is not) the Answer

Annuities. Often considered a dirty word to both financial planners and consumers alike. As financial planners, we have seen many annuities sold to people who later regret the purchase. Whether they are high in fees, inflexible, or just not quite what they thought it was, many times these purchases come with buyers' remorse. Like any tool in a toolbox, an annuity is just another weapon in a financial planner's arsenal when it comes to crafting a complete financial plan. However, you have to understand what the annuity will and will not do. Annuities certainly have their uses, but we find they are often too broadly recommended, or incorrectly avoided, based on preconceived notions about the product. Here's what to consider when deciding whether to buy an annuity or not.

Read More
%POST_TITLE% Thumbnail

On Medicare? - You May Need One More Form For A Complete Estate Plan

As financial planners we are always stressing the importance of a complete estate plan. This goes beyond just having a will. You'll also need a power of attorney for financial affairs and healthcare, if you are unable to make decisions for yourself. In some cases, a trust is another key component. But, if you're on Medicare, the government requires an additional form to provide information about your coverage to others.

Read More
%POST_TITLE% Thumbnail

Rewinding RMDs - IRS Greatly Expands RMD Rollovers for 2020

Do you ever sometimes wish you could go back in time? As financial planners we often dream about taking advantage of certain tax laws before they change, or knowing stock market returns in advance (because no one can consistently predict the market correctly!). Speaking of which, no one was predicting a global pandemic at the start of the year and knowing that in advance may have altered how many individuals would have handled their required minimum distributions from retirement accounts. Similar to 2009, RMDs do not need to be taken in 2020 thanks to the CARES Act. But this rule change did not occur until the end of March. Luckily for those who did not procrastinate, the IRS released additional changes to returning RMDs and taking other distributions from retirement accounts. Here's what you should know about these new rules.

Read More
%POST_TITLE% Thumbnail

Thrift Savings Plan Responds to CARES Act

In recent history, The Thrift Savings Plan has not been able to quickly adapt to required changes to the TSP that were part of federal legislation. The TSP’s response to the important temporary changes in the CARES Act is no different, as it is taking four months for them to fully implement changes that were supposed to be offered to participants as quickly as possible. Below is a summary of what the TSP has already done and what still has to be completed, along with a non-CARES Act major change to the TSP.

Read More
%POST_TITLE% Thumbnail

The Stock Market Jumped in April - What Does That Mean?

If you're like many Americans, the stock market has been the least of your concerns recently. Between a global pandemic and extreme economic uncertainty, there are much more important matters to be concerned with. In fact, many of you are likely avoiding looking at your investment statements because the decline (which isn't a bad idea). For those who have been watching the stock market, you may have noticed that stocks increased fairly substantially in April, with the S&P 500 up over 14%. But what exactly does this mean? Are we out of the woods, at least financially? Should you alter your investment strategy? These are important questions many investors are asking right now.

Read More