This year, there has been more optimism in the stock market compared to 2022. Even with rising interest and forecasts for slower growth, the returns of the S&P 500 paint the picture of a booming economy for investors.
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Whether you’re expecting a life-changing inheritance, a modest inheritance or maybe not anything, it’s an important situation to think about. Although everyone’s situation will be different, there are steps you can take to make sure the transfer of wealth goes smoothly.
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The model in which financial advisors earn income could influence their recommendations, which may impact your return on investments, long-term objectives and portfolio performance.
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Depending on your medical needs and those of your family, you may have enrolled in a high-deductible health plan that allows you to pay for medical expenses using a health savings account (HSA). Learn more about the rules and conditions around HSAs.
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Once tax season is over, it’s not too uncommon for taxpayers to receive an inquiry letter for more information about their income. Learn more about how to navigate these inquiries.
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EAs can provide valuable insights on tax-efficient investment strategies, retirement planning, and more. Learn about what an EA is and how they can help you reach your financial goals.
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Marriage may not be part of the plan for every couple. These strategies can help unmarried couples avoid conflict while making financial decisions together.
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Despite predictions of a recession, the economy is proving resilient with a strong labor market, strong corporate and consumer balance sheets, and stabilizing housing market.
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For years, stocks and bonds have been the primary way investors could build their wealth. However, we’ve seen remarkable transformation in a third venue: alternative investments.
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Annuities are a popular way to supplement retirement income, provide tax-deferred growth and assist in legacy planning. But what are your options when an annuity no longer serves you?
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Whether it’s from an inheritance, settlement, divorce, a major sale, initial public offering (IPO) of your business or winning the lottery, most people would agree coming into a large sum of money is a good problem to have. But sudden wealth comes with a unique set of unexpected financial and emotional challenges.
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Your personal financial goals can help determine whether you want to pay taxes now or later on retirement contributions.
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It’s a fair question to ask ourselves: Should my portfolio be exposed to foreign companies? The answer is nuanced and investor-specific, but ultimately, yes. Buckingham’s Investment Policy Committee (IPC) believes an allocation in your portfolio to companies outside of the U.S. is beneficial. Let’s look at some of the most common reasons people tend to question their portfolio’s international allocation.
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Chief Investment Officer Kevin Grogan shares the principles for determining an optimal equity allocation split, the cyclical nature of these investments, current valuations and the long-term forecast.
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According to a recent study, a year of tuition, books, supplies and day-to-day living expenses at a four-year university will cost on average $35,551. In addition, the price of college is rising at an alarming 7.1% annually. To combat these soaring prices, many parents prepare for their children’s education by investing in 529 plans. Through this strategy, tuition funds are taken directly out of the plan, and parents avoid paying capital gains tax on the appreciation of the investments in the educational fund. They may even get a state tax deduction for the contributions.
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Whether it happens sooner (perhaps as early as next year) or later (but likely no later than 2026), there’s a good chance we’re going to see a significant drop in the federal estate tax exemption amount. And while there’s some uncertainty around exactly when it will happen, one thing that is certain is that if/when it does, substantially more Americans will be subject to this tax.
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If your ability to pay your family’s monthly living expenses relies upon maintaining your current income, this article is for you.
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Nearly 100 years ago, economist John Maynard Keynes predicted that gains in technological efficiency and productivity would allow his grandchildren’s generation to work only 15 hours per week. For most of us, earning a living working three hours per day seems as fantastical now as it did in 1930!
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Imagine that, in the foreseeable future, you’ll have turned in all your company property, collected your final paycheck, and will be drinking a hurricane at half past noon while chair-dancing to “It’s Five O’Clock Somewhere.” You’ve planned on reaching that celebratory beach vacation over the many years of your career while also designing, building and protecting your financial life. By 65 you have diligently accumulated the wealth you need to retire. You’ve won the game, earning satisfaction and congratulations for completing a solid plan. Other than tee times, volunteer activities or family trips, there isn’t much planning left to do, is there?
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If the pandemic has proven anything, it’s that life-altering occasions—both those we experience firsthand and those that merely present themselves as possibilities—have the potential to uproot even the firmest of financial plans. Why? Because reminders of what’s most important to us—wake up calls about how we spend our time and, as an extension, our money—can and should trigger reevaluation of our plans for the future.
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