Blog Posts

Countdown to College – Steps to Consider Each Year of High School

Countdown to College – Steps to Consider Each Year of High School

by | May 25, 2023 |

As a parent, you of course want to give your child the best opportunity for success, and for many, attending the “right” university or college is that opportunity. Additionally, the earlier you consider how you expect to pay for college costs, the better.

Today, the average college graduate owes $28,950 in debt, while the average salary for a recent graduate is $55,360.

Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way—starting in the first year of high school.

Interesting Financial Questions New Physicians Ask Their Financial Advisor

Interesting Financial Questions New Physicians Ask Their Financial Advisor

by | May 25, 2023 |

By John Fales

The financial demands on your life as a doctor will be unique in every stage of your career. From your education to residency, first years to a seasoned career, and career closure to retirement, a financial plan can guide you through a fulfilling career in medicine and help build your legacy.

Here are some questions we often hear from residents and new physicians:

The Stress of Financial Infidelity on a Relationship

The Stress of Financial Infidelity on a Relationship

by | May 8, 2023 |

By Dena Fischer

Financial Infidelity is a term popping up more in conversation these days. As someone who experienced financial infidelity at one time in my life, the term may be new to me, but I’m now realizing it’s not so uncommon and I wasn’t alone.

What exactly is financial infidelity?

The common definitions are hiding money, lying about income or debt, or trying to hide out of control spending from your partner. With or without malicious intentions, you are deceiving your partner about financial practices and money habits. All of these can destroy trust in a relationship and once lost, just like physical infidelity, it is very difficult to rebuild that trust.

4 Steps to Protecting a Child with Disabilities

4 Steps to Protecting a Child with Disabilities

by | Mar 30, 2023 |

Raising a child is expensive and can cost about a quarter of a million dollars, excluding college. For a child with special needs, that cost can more than double. If you’re the parent of a child with special needs, it’s vital to ensure your child will continue to be provided for after you’re gone. It can be difficult to contemplate, but with patience, love, and perseverance, a long-term strategy may be attainable.

Even though the financial costs may be a major factor in your caring and planning for a child with special needs, finances can seem like a small part or afterthought when it comes to also dealing with the emotional needs, physical needs, caregiver needs, and more that go along with making sure you, your family and your dependent are cared for in the best manner.

Let’s take a look at 4 important steps to protecting a child with disabilities:

Flowchart: Do I Need to Start Making Estimated Federal Income Tax Payments?

Flowchart: Do I Need to Start Making Estimated Federal Income Tax Payments?

by | Mar 30, 2023 |

Income tax planning can be critical to your financial success. Navigating our complicated federal pay-as-you go income tax system can be difficult. Adding further complexity, you must understand and adapt to changes in tax laws and in your personal circumstances. In each tax year, it is important to ensure that you are properly paying your federal income tax liability in order to avoid penalties. Frequently, individuals may need to make estimated payments to avoid penalties for late payments and/or underpayments.

Checklist: What Issues Should I Consider When Planning for the Sale, Disposition, or Succession of My Business?

Checklist: What Issues Should I Consider When Planning for the Sale, Disposition, or Succession of My Business?

by | Mar 30, 2023 |

Planning for the sale, disposition, or succession of one’s business is a challenging process. This topic may be on your mind as a business owner, yet many struggle to take action and start planning.

Where should you start? What questions should you ask when addressing your exit strategy?

One thing to note: we RARELY hear people say they started the process too early. Consider starting earlier than you have planned, as these transitions are often years in the making.

This checklist covers key issues to consider when making decisions regarding the sale, disposition, or succession of your business, such as:

SECURE Act 2.0: An Overview

SECURE Act 2.0: An Overview

by | Jan 31, 2023 |

In the final days of 2022, Congress passed a new set of retirement rules designed to facilitate contributions to retirement plans and access to those funds earmarked for retirement.

The law is called SECURE 2.0, and it is a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019.

The sweeping legislation has dozens of significant provisions; here are the major provisions of the new law.

Insurance Needs Assessment: For Empty Nesters and Retirees

Insurance Needs Assessment: For Empty Nesters and Retirees

by | Jan 31, 2023 |

Although retirement should be a priority throughout your lifetime, when children leave the house, financial priorities tend to become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning potential and fast approaching peak savings as you lay the groundwork for retirement. During this final leg toward retirement, and throughout your retirement years, wealth protection is critical.

The preservation of your assets may not be solely a function of your financial planning and investment strategy but may also include a comprehensive insurance approach to protect you against an array of financial risks, most especially health care.

In addition to wealth protection, you may also now be seriously contemplating a number of important estate and legacy objectives.

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