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Medicare policies are the health insurance benefits you have worked toward throughout your life, and having the proper policy is critical as you are likely to face more health problems as you age.While these policies can provide you with the coverage you need for your health conditions later in life, they may be confusing to navigate for some and can include a variety of pitfalls. Whether you are ready for a Medicare policy or planning ahead for the future, below are some costly missteps that yo

Nearly 1 in 3 Americans report that they aren't prepared for a recession — despite the near-constant drumbeat of recession talk from media and economic experts alike.1 This lack of preparation may be the result of "recession fatigue" or the exhaustion and burnout that can come from years of recession predictions that have yet to pan out

In the U.S., women control a third of household assets. But by 2030, U.S. women are expected to control much of the assets that the baby boomer generation will pass to heirs, roughly 30 trillion in assets. High-earning women have become the newest face of wealth and will increase their net worth even more.High-earning women are becoming the primary ‘breadwinners’ in many families and are increasingly the financial decision-makers. Women have unique needs that often differ from their

Nearly 56 million American adults are 65 or older, and the demand for community living and estate planning services may increase over the next few decades.1Do you know what arrangements you need to make when the time comes? What are the differences between elder law and estate planning? And what should you know before you begin to get your affairs in order?Elder Law: Protecting Seniors Today and TomorrowElder law encompasses various legal issues for seniors, including legal support for elder abu

Interest is one of the simplest and most appealing ways to gain profits from an investment. Like clockwork, you receive an interest payment on your principal, or the amount of money you deposit when you open an account.Unlike more turbulent investments such as stocks, whose revenue is dependent on your ability to sell at a profit, accounts that pay interest will always generate some amount of profit—with only some rare exceptions.However, there is more than one type of interest, and not al

Investing in financial markets requires a proactive approach, and one key aspect of maintaining a healthy investment portfolio is conducting periodic reviews. While many investors focus primarily on equities, it's crucial not to overlook the fixed-income portion of one's investments.The financial landscape is dynamic, with economic conditions, interest rates, and market trends constantly evolving. A mid-year portfolio review provides an opportunity to assess whether your fixed-income inv

In recent times, investor expectations have shown a concerning trend of becoming detached from the realities of the market. The focus on technology and artificial intelligence (AI) has largely kept investors engaged and buying, creating a sense of enthusiasm that seems to overshadow other factors. However, the recent ADP employment report has managed to jolt the market, if only temporarily, reminding investors that they should exercise caution and not solely rely on the prospects of futuristic

For members of the "Sandwich Generation"—those currently in their 40s and 50s who are caring for children and their parents who are over 65-years old—estate planning may seem like a low priority. After all, when you're juggling multiple caregiving responsibilities daily, sitting down to draft a will is easy to put off.But estate planning can be crucial to protecting your assets and providing for your children or other loved ones after you are gone. Here are some tips fo

A critical part of financial planning that is often overlooked is insurance. Having various insurance policies will provide different benefits to your financial plan, ranging from protection to tax breaks. In fact, insurance is a component of most financial plans, and some financial professionals are licensed to sell it themselves. Read on to learn more about the role insurance plays in financial planning and what policies you might consider. 

The insights in LPL Research’s Midyear Outlook 2023: The Path Toward Stability will help position investors, along with guidance from their financial professionals, to achieve their goals by providing guidance and actionable insights as the second half of 2023 unfolds.

As a retiree, one of the significant financial challenges you may encounter is inflation. The rising costs of goods and services can erode the purchasing power of your retirement savings, making it difficult to maintain your desired lifestyle.However, it's not all doom and gloom. There are ways to safeguard your finances and make your retirement more inflation-resistant. 

As we approach summer, there has been a fair share of speculation and concerns about an impending global recession. While economic cycles are an inherent part of any economy, there are several reasons to believe that a global recession is not imminent. In our latest blog, we shed light on the factors that support a more positive economic outlook.

Right now is a great time to assess your insurance coverage. Insurance is a means of protecting your assets against premature liquidation. When a loss occurs, the assets you've worked hard to attain face liquidation if your insurance coverage isn't enough. It's always possible to strengthen your current insurance coverage or purchase new coverage. The insurance review and planning process is unique to each individual but has three parts for determining how much insurance coverage you

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've adequately prepared, planned, and saved. Below, we discuss three ways that planning ahead for your retirement can be like scheduling your summer. 

As an investor, it's important to keep a close eye on the stock market indicators. Currently, the indicators are showing a concerning trend that investors should pay attention to.The stock market has seen a rally in big tech stocks after their earnings this week, driving up major indexes. However, the number of stocks outperforming the broader market has slipped to levels that have not been seen in decades, and in some cases, ever. This weakness is being considered by some experts as a warni

Having enough retirement income is a top concern for many Americans nearing or in retirement. Even though they may have saved consistently throughout the working years, they may be concerned that their retirement plans will succeed. A successful retirement plan provides the ability to maintain your lifestyle for the duration of your life.Having enough retirement income for what you need and want is essential and must be planned for, even in the best economic conditions. A way to provide income s

Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them with a clear goal that you secretly dread will actually take place — that someday they will be grown, independent, and ready to move out on their own, and your work will be over.As your children travel this long and never-dull road from infancy to adulthood, yo

Life insurance has many uses, including income replacement, business continuation, and estate preservation. Long-term care insurance helps provide financial protection against the potentially high cost of long-term care. If you find yourself in need of both types of insurance, a life insurance policy that combines a death benefit with a long-term care benefit may appeal to you. 

529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to discontinue their education. There may be other reasons the funds were not used, such as:· The beneficiary received scholarships· The beneficiary used monies from a relative (inheritance) for education expenses· The secondary education costs

When people think of life insurance, what usually comes to mind is settling the deceased's final expenses and providing financial support for their beneficiaries. Although these are the most common uses of life insurance, cash value, or whole life insurance, they offer financial resources to other situations. Here are six cases where using life insurance may be appropriate: 

Being a nurse comes with many challenges, both in their profession and everyday life. Nurses should consider their need for insurance a bit more carefully than some other professions. In today's society, lawsuits are prevalent, and unfortunately, the medical industry is one of the main areas under attack from these suits. Yet, malpractice insurance is not the only insurance consideration nurses have to worry about. 

Financial markets reacted turbulently to the collapse of Silicon Valley Bank (SVB) on March 10, 2023, followed two days later by the failure of Signature Bank of New York. With $209 billion in assets and $175 billion in deposits, SVB was the nation's 16th largest bank and the second largest to fail in U.S. history.1-2This news was alarming to savers who worried their own bank accounts could be at risk and investors who feared a wider financial crisis. To help restore confidence in the U.S. f

Many retirees underestimate their expenses, get bored without a daily grind, and panic over market corrections. Especially when the media is shouting about bank failures, historically high inflation numbers, a ballooning national debt, a hawkish Federal Reserve, and countless predictions of a looming recession. Here are a few exercises that you can take to get ready for the reality of retirement.

Financial literacy is crucial, not only for adults but for everyone in the family. When you have a good foundation of financial literacy, you will have a greater understanding of money and prepare yourself for a brighter financial future. Ready to improve the financial literacy of your family? Below are a few ways to get started.

When it comes to claiming Social Security retirement benefits, you may want to consider waiting to start benefits when you’re 70. Here are three reasons why delaying taking your Social Security benefit to age 70 is a decision you may want to consider.

Money worries may be one of the biggest sources of stress—from wondering how to pay for an unexpected expense to making retirement calculations when considering leaving a job. Here are a few things a financial professional may do to possibly decrease your stress. If you have questions please feel free to contact us.

As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top-notch care that enriches your patients' lives. It can be easy to overlook your finances. When choosing a financial professional, keep in mind that understanding the numbers and the markets isn't enough. You need a financial professional who understands the medical industry in general and your profession in particular.

Spring cleaning presents a great opportunity to clear out any items you no longer need—and the same goes for your finances. Checking in with your finances during tax season may be particularly beneficial, as it allows you to complete last year's taxes while making any changes you need to potentially improve next year's tax situation. Below, we discuss what's included in a financial review and how such a review can help you spring-clean your finances.

Working in medicine may be challenging, especially with the strain placed on health care professionals in recent years. Working towards a comfortable early retirement may be a financial goal for some physicians. Here are some suggestions that doctors may use to manage financial independence. Investigate Qualified Retirement Plans Physicians are often subject to complex employment and contractual arrangements that may broaden their retirement options. Some physicians are not limited to the same

An HSA offers several tax benefits, including tax-deductible contributions, tax-free investment growth, and tax-free withdrawals for eligible medical expenses. The following are some of the key benefits of an HSA and how you can use it to help reduce your future tax bill.

Before you rush to get that return out the door, are you confident you have everything in order to make your tax filing go as smoothly as possible? Here are five last-minute details to double-check before Tax Day.

Investing in U.S. stocks and bonds is a popular way for individuals and institutions to grow their wealth and generate income. However, it is important to consider the impact of taxes on these investments before and after making them.

Looking for ways to say "I love you" on Valentine's Day? Then you may want to consider opening a spousal individual retirement account (IRA). This gift says, "Let's grow old together comfortably and can be a potent instrument for married couples to grow wealth.. Here is how.

A health savings account (HSA) could be just what the doctor ordered. Used wisely, this innovative approach to health coverage may provide major advantages that could keep both your personal and financial life healthy.

Physicians have a lot to worry about financially, from juggling student and professional debt to running their own clinic, and saving for the future. Our blog covers five financial strategies Physicians should be aware of.

When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft. protecting your tax identity doesn't have to be difficult. Below, we explain a couple of ways you can theft-proof your ID.

When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting, this strategy can be critical for investors, day traders, or anyone who regularly buys and sells investments.

We think 2023 will be “A Year of Inflections”––for inflation, interest rates, and growth. Navigating these inflections will be key to investment success in the year ahead.

As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth.

Do you want to get on top of your finances this year? Are you looking for ways to improve your fiscal health? Here are 12 financial resolutions to consider.

Saving for retirement just got a little bit easier. Congress approved big changes that can help 401(k) and IRA savers put a little more money away for their futures.

For many investors, this year has been a wild ride—with interest rate increases, a crypto implosion, and whipsawing values in the major market indices. But the end of the year is the perfect time to take stock of your investments, evaluating what worked, what didn’t, and what you might do better next year. Here are four key opportunities to consider that may recharge and reset your finances as you enter the new year.

The end of the year is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming. Consider breaking up the responsibilities over twelve days, focusing on one each day, and ensuring it gets a comprehensive review.

It's common for people nearing retirement not to consider the tax burden they may face once they stop working. The amount of taxes you owe will most likely decrease after 65, but you should still plan ahead if you wish to minimize your tax liability.

The demands on medical practitioners today can seem overwhelming. Health-care delivery is changing, and those changes are reflected in the financial issues that health-care professionals face every day. Just as patients need periodic checkups, medical professionals may need a financial checkup to make sure their finances receive the proper care.

As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry. To differentiate between the two, a mix of complex rules and exceptions now governs the taxation of insurance products. Here are some life insurance tax tips and background information to help you make sense of it all.

Improving return by minimizing taxes Although we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be interested in legitimate ways to minimize taxes on your investment portfolio. Several approaches and strategies exist, including the following.  

The primary purpose of life insurance is to provide financial resources for those that depend on you when you die. However, you can lessen the complexity of charitable giving through wealth transfer by using life insurance as a gifting strategy. Often, the strategies you use to transfer wealth, which organizations you want to donate to, and the length of time you want your assets to last is simplified by using life insurance.

When was the last time you gave yourself a financial checkup? As the saying goes, there’s no time like the present. This is especially true when it comes to reviewing the current state of your finances and figuring out what you need to do to get – or stay – on track so you can pursue your financial goals. To do this requires you to take into account a variety of factors. Setting aside time to understand your financial condition and conduct an honest assessment of where you stan

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances

If you hope to retire soon and are concerned about what the future may hold for your investments, you are not alone. Inflation has many retirees and soon-to-be retirees worried about outliving their savings and investments. What might you do to survive and even thrive during volatile markets? A financial plan may help you feel more confident and help you consider a few additional ways to manage your financial worries in retirement. 

Even if you never thought of yourself as especially wealthy, there may be a fair chance that you fall into the category of "high net worth individuals"—those who have liquid assets of $1 million or more.1 For many individuals who hope to leave a legacy for their loved ones, estate planning may take on new importance. Here are two estate planning tips every high-net-worth individual should consider.  

The financial literacy gap—or the gaps in financial knowledge among various sectors of the public—may have racial, gender, and socioeconomic components. Those whose parents or mentors are experienced investors who may provide sage advice have a leg up on those who must navigate the process themselves.However, financial professionals have identified ways to close these gaps and make budgeting, investing, and wealth creation more accessible to more people. Below, we discuss a few ways

Don't let disorganization become one of your biggest money problems.

Parents of kids heading off to college soon may wonder about the best way to save for these seemingly inevitable costs. Two popular options include whole life insurance policies and 529 college savings plans, but the paths to paying for a college degree utilizing either of these op

Most people hate the thought of reading a life insurance policy (or any insurance policy, for that matter). However, if you can find the time and muster the patience, it's probably a good idea to read through your policy.

Bull markets happen. Bear markets happen. Just stick to your financial plan, and stay calm and disciplined. When the market sours or slumps, don’t believe talk that this bear it is different. It is not.

When it comes to saving for retirement, the options can seem endless. From 401(k) plans to IRAs, to Roth IRAs, health savings accounts, even life insurance policies, there are a variety of financial vehicles that allow you to set aside and invest funds for your future. But when it comes down to allocating your funds between accounts, what should you consider? Here we discuss the basics of the 401(k) vs. life insurance debate.

Market downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and in the future.

See if you can spot the flaw in this couple's plan:A husband and wife are retiring next month at age 62, with an equal amount saved in retirement and non-retirement accounts (let's call it $500,000 each).Like most, over their lifetimes they have emphasized higher-growth assets in their retirement accounts (IRAs, 401(k)s, etc.), which are invested almost entirely in stocks. By contrast, their non-retirement accounts are far more conservative, since they were more likely to tap those over

From 2008 to 2022, the cost of in-state tuition at public universities rose nearly 80%.1 The high price tag now associated with a college education makes it critical for families to carefully plan how to pay for higher education expenses. Part of this careful planning involves reducing tax liability—the more you pay in taxes, the less you will have available for these other important expenses. Here we discuss four especially tax-efficient ways to help your kids afford college.

Being a doctor comes with a lot of stressors, but planning for taxes should not be one of them. As a doctor, you have been through years of hard work and may be looking for ways to help limit your tax liability and preserve as much of your hard-earned income as possible. Below are some tax strategies that doctors may find useful to help minimize their tax liability.

What is investment tax planning for stocks? Investment tax planning for stocks takes advantage of the tax rules with the goal of achieving the best after-tax return on these investments. Strategies will differ depending on whether you purchase common stock or preferred stock. What is common stock, and how does it generate earnings? Common stock is a form of equity that represents a share of ownership in a corporation.

A life insurance policy is part of financial planning. Life insurance is there to help ease the financial trauma that comes with the loss of a spouse, parent, or partner. As you encounter different events in your life, you may need to review your policy and make changes.

Life insurance can provide you with the confidence that your family and loved ones will not experience any financial distress if you die unexpectedly. However, the importance of having a life insurance policy can make being rejected sting even more.

LPL Research’s Midyear Outlook 2022: Navigating Turbulence is designed to help you assess conditions over the second half of the year, alert you to the challenges that may still lie ahead, and help you find the smoothest path for making continued progress toward your destination.

Life insurance is essential in providing for beneficiaries upon your death, but it can also offer other tax advantages you may not know. For this reason, whole life insurance, also called cash value life insurance, is often used as a vehicle to reduce your taxes while alive and for your estate and beneficiaries.

Planning for retirement is essential as a step toward financial security. Most investors are familiar with 401(k)s, Traditional IRAs, or Roth IRAs but often may not know about an annuity's benefits in retirement. Knowing if retirement savings can last the rest of our lives can be stressful, and retirees often consider an annuity to provide them with consistent payments that last their entire life.

Many investors still adhere to the adage; "sell in May and go away" while others remain fully invested even as the summer heatwaves begin. What goes unsaid is that if your asset allocation accurately reflects your risk tolerance, you won't need to base your investment decisions on the calendar.

Being a nurse comes with a lot of responsibility alongside a sense of pride in knowing that you are helping others. But while the road to becoming a nurse already involves a fair bit of course work, there unfortunately isn't much on helping nurses take control of their finances.Staying on top of finances will help put you in the ideal position to pursue your financial goals, whether they include early retirement, travel, or just feeling more comfortable.

If you have never engaged in financial planning and are unsure how to get started, this article is for you. A financial plan starts by evaluating your current financial situation and future expectations and can be created independently or with the help of a financial professional. In short, financial planning involves: Examining long-term financial goals and creating a strategy to pursue them.

Whether you are expecting your first child or have been a parent for years, finances and building a future for your family go hand-in-hand. Luckily, there are money moves you can make now to help manage financial stress, support yourself and your loved ones, and help your children as they get older. Here are three key financial moves all parents should consider making.

The ability to enjoy a secure retirement is an objective that many teachers and their colleagues pursue years before they leave their jobs. Many public school workers, in different positions, devote their lives to furthering the education of young people. Eventually, each must consider life beyond his or her career and the benefits offered through, and outside of, the public school retirement system.

Police officers have one of the most stressful and dangerous jobs in the United States. As a result, they also have different retirement benefits that may allow full retirement after only a couple of decades of active duty.1 For some officers, relying on the police pension may not be enough to retire comfortably and confidently.

First responders; police, firefighters, and EMS workers; spend their shifts responding to disasters and emergencies from which many people would flee. They often deal with hazardous diseases, natural disasters, and violent outbursts as a normal part of their job. Unfortunately, these risky situations can increase the chances that a first responder will suffer a job-related injury or death.

Teaching your children about finances may seem like a weighty topic; however, it does not have to be challenging. By opening the lines of communication early and demonstrating good financial decisions of your own, you may set your children up for success.

Most often, the first question a prospective employee will ask is about your company’s benefit program. And in my experience, the two most often-asked questions are about health insurance and an employer-sponsored retirement program.

With tax season coming to an end, it’s the ideal time to use this year's tax return to help update your financial plan. If you’re in the group of one in four Americans who do not already have a financial plan, it may be time to create your first one.