2018: the year of tax reform, market volatility, and tariffs is now also the year of millionaires. A recent Fidelity Investments report found that a record-breaking 157,000 Fidelity 401(k) savings accounts now have balances at or above the $1 million mark—49,000 more than claimed millionaire status in 2017. For a growing number of Americans, a …
On June 13th, the Federal Reserve raised interest rates for the second time this year and, according to Fed Chairman Jerome Powell, we can expect two more rate hikes before 2019. Viewed from a distance, rising interest rates are a sign of economic prosperity. With unemployment hovering around 3.9% and wages slowly but steadily creeping …
Continue reading “On the Rise: Interest Rates and Your Retirement”
The bad news: for too many Americans, retirement planning is what puts the “tired” in being retired. The good news: it doesn’t have to be this way. To help get you started, we compiled a list of the top five retirement planning questions we hear from our clients and handed it to Roger Cowen, chartered …
A good financial advisor is hard to find. As with other service professionals like doctors and lawyers, a professional degree alone doesn’t cut it; you need someone trustworthy, honest, knowledgeable, and caring. Here are the ten traits to look for when searching for a financial professional. Education is key Look for the certification C-suite: ChFC, …
For many investors, a fixed index annuity sounds like its own contradiction. Is it a traditional fixed annuity—a contract with an insurance company which guarantees the return of the principal investment plus a predetermined interest rate—or is it more like a variable annuity, whose value is tethered to the stock market? True to its name, …
Continue reading “Fixed Index Annuities: 10 Questions You Should Be Asking”
Many of us have a bucket list, or even a few thoughts about what we want to accomplish in life. But have you ever thought about a financial bucket list? A financial bucket list is a list of things we want to accomplish before we “kick the bucket.” Just like skydiving and traveling the world, …
As recently as January, the decade-long bull market was charging ahead at full speed, with corporate profits bolstered by tax cuts and both the S&P 500 and the Dow registering record-setting peaks. Yet, less than two weeks later, on February 5th, press photos of day traders biting their nails on the exchange floor told a …
Continue reading “Market Volatility & Your Retirement: How to Keep Your Future Stable”
If you are like most people, you are looking forward to retirement. You might hope to travel or pursue a hobby. In reality, though, many people’s retirements are far from what they dreamed about. To have the enjoyable, financially comfortable retirement you want, you need to start planning as soon as possible. Here’s how.
It’s spring; the ground is thawing, the birds are singing and, if you’re like us, you’ve already started to eye the vacuum and the mop. We get it–you’ve got spring cleaning on your mind. But what about your finances? Keep reading for five ways to clean up your financial future before June. 1. Dust …
Don’t let your 2017 tax refund fall victim to tax fraud. After last fall’s Equifax data breach, taking steps to protect yourself from identity theft is more important than ever. Here are four steps you can take to keep your refund—and your identity—safe. 1. File Early Filing early is the best defense against tax …
A tax preparer takes responsibility for preparing and filing your taxes. Your tax preparer will begin by interviewing you about your retirement or employment, all sources of income, as well as filing status, possible dependents, exemptions and deductions. This gives the preparer a clear picture of your current situation. The next step is for your …
Although the new tax bill might mean that Tax Year 2017 is the last year you need to itemize, there is still plenty of time to take advantage of these often-overlooked tax deductions. For many Americans, itemizing can help lower their tax bill or increase their refund. The savings can go further than you think. …
Continue reading “Three Types of Tax Deductions You Might Be Missing”
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