How often do you set new financial goals? How often do you achieve them? Most of us aren’t very successful with our goals, even when we have the best intentions and strong willpower.1 Sometimes, that’s because we’re setting unattainable goals. Other times, we’re missing the big picture and setting our goals with blinders on.2 Either…
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Deciding When To Take Social Security
One of the most common questions people ask about Social Security is when they should start taking benefits. Making the right decision for you can have a meaningful impact on your financial income in retirement. Before considering how personal circumstances and objectives may play into your decision, it may be helpful to preface that discussion…
What does “Wealth” Mean to You?
In our client meetings, the term “wealth” is often tossed around somewhat loosely. We talk about building wealth, managing wealth, enhancing wealth, and preserving wealth as if the concepts are universally understood. But what exactly is wealth? It’s such a vague term that every person has a slightly different meaning. That’s why we need to…
Investment Strategy: Where You Are Now vs. Where You’re Headed
From CEOs to athletes, most people striving for a certain level of performance are constantly assessing where they are and where they want to be. Regularly checking in helps them decide if they’re effectively using all their resources. Sure, it may seem OK to overshoot a goal, but if resources are used in the wrong…
CAN YOU TAKE ADVANTAGE OF A NET UNREALIZED APPRECIATION (NUA) STRATEGY?
Many companies offer employer-issued stock as a benefit, in addition to other compensation and benefits. But what happens if you leave a job that offered you employer-issued stock or if you experience another triggering life event (such as turning 59½)? That’s where net unrealized appreciation (NUA) strategies come in. There are a few favorable rules…
What Are SLATs (Spousal Lifetime Access Trusts) and Who Are They For?
When it comes to estate planning, trusts, and wills, you have many options—which begs the question: Which estate planning options are suitable for you and your family? There’s no quick answer to that question because everyone’s situation is unique, but we want to share one tool you may want to consider: spousal lifetime access trusts,…
Retirement Hobbies You Never Knew Existed
We all know about standard retirement hobbies such as golf, gardening, or woodworking. But now that you have time to fill, why not think outside the box? Here, we share some retirement hobbies you never knew existed that can help spice up your golden years. Beekeeping Beekeeping is an age-old hobby but one that most…
Can You Take Advantage of a Net Unrealized Appreciation (NUA) Strategy?
Many companies offer employer-issued stock as a benefit, in addition to other compensation and benefits. But what happens if you leave a job that offered you employer-issued stock or if you experience another triggering life event (such as turning 59½)? That’s where net unrealized appreciation (NUA) strategies come in. There are a few favorable rules…
What is a 1031 Exchange?
If you want to add investment real estate to your diversified portfolio, you’re going to want to know what a 1031 Exchange is. While the rules and regulations for this tactic can get complicated, understanding the basic concepts will help you decide if this strategy is right for you. Let’s look at what a 1031…
New Retirement Contribution Limits for 2023
The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels. Individual Retirement Accounts (IRAs) IRA contribution limits are up $500 in 2023 to $6,500. Catch-up contributions for those over age 50 remain at $1,000, bringing the…