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For some families, dependent benefits for children with disabilities are an important factor in the Social Security claiming equation. Here’s what you need to know. Children with disabilities such as Down syndrome, autism, or...

It's easy to see how inflation affects your daily life. Gas prices are higher. Electric bills are steeper. Wallets are thinner. But what inflation does to your investments isn't always as obvious. Let's say your money is earning 4% and...

While the national focus has been on uncertainty around the new tax law, there are many individual tax-planning opportunities you should consider before year-end to ensure you are getting the best deal while staying compliant. Although...

Each year, the Social Security Administration (SSA) announces the cost-of-living adjustment for the next year. Whether you are retired or not, you should be aware of what the changes mean. Last October the Social Security...

College planning isn’t for parents only. It’s an investment that should involve the whole family and offer students their first taste of financial planning. It’s a time for parents to be realistic about what they can...

You probably already know you need to monitor your investment portfolio and update it periodically. Even if you've chosen an asset allocation, market forces may quickly begin to tweak it. For example, if stock prices go up, you may...

It wasn't so long ago that many investors regarded dividends as roughly the financial equivalent of a record turntable at a gathering of MP3 users — a throwback to an earlier era, irrelevant to the real action. But fast-forward a...

The more you know, the harder it will be to replace you. You may be a dedicated employee who has worked for the same employer for many years, yet you still may be susceptible to getting laid off. Sometimes getting laid off is...

The days are long gone when nonprofit boards were made up of large donors who expected that little more would be asked of them beyond socializing at the occasional fundraiser. Being a board member can be as demanding and rewarding as...

A grantor retained annuity trust (GRAT) is an irrevocable trust into which you make a one-time transfer of property, and from which you receive a fixed amount annually for a specified number of years (the annuity period). At the end of...

You might assume it’s safer to keep your personal details—especially your Social Security number—off the internet. Actually, setting up a my Social Security account is an important step toward protecting your benefits...

Having a will is necessary, but there is a great deal of information the legal document does not include. Here’s what to cover in a supplemental letter that specifies preferences, discloses critical logistic info, and will save...

Most of us probably hope that we will never need disability benefits. But for those who qualify, they can be an important source of income. The disability portion of the Social Security program is so big and so complex that there are...

A retirement plan is built on a set of assumptions that can’t be validated until it’s too late. One key to successful retirement planning is carefully setting assumptions and revising them often. Retirement calculators make...

When was the last time you examined your will or trusts? How about power of attorney or plans to gift assets? Under the new tax act, only eight per 10,000 estates will owe federal estate tax—at least until the act sunsets. That...

If you, or someone you know, has lost a spouse, look into the rules and strategies for Social Security survivor benefits. By coordinating these benefits with your own retirement benefit, you may be able to maximize both benefits....

If you are an IRA owner interested in donating to charity, a qualifiedcharitable distribution may be an option. These 10 rules outline howa QCD should be done. Arguably, one of the biggest changes to the tax codein the Tax Cuts and...

There is both good and bad news for families in the new tax act.About 60% of the tax cuts will go to families, so understanding thesechanges is essential.If you are struggling to understand the new tax actand how it will affect you, so...

When it comes to sharing assets and debts in remarriage, how "to have and to hold" can take some thought. Type of Asset or Debt Factors to Consider Debts incurred before remarriage • Keeping these debts separate protects the...

Most baby boomers will face seven key events in their last stage oflife that will color their finances and investments. Prepare for theseevents by thinking about them now. It can be dangerous to generalize about the baby-boomgeneration...

Discover what it means to be wealthy or successful. If you’re like most, it takes a few hard knocks to understand what life truly has to offer. Several years ago at the Berkshire Hathaway annual shareholders meeting in Omaha, Neb...

With such a high standard deduction, taxpayers may not get additional itemized deductions for charitable donations. However, with a little clever planning in charitable giving, taxpayers can exceed the standard deduction, start...

A spouse who inherits an IRA or similar account has a couple of options available depending on what the end goals are. But in most cases, the 99% rule offers flexibility and helps preserve the stretch. It sounds odd to say, but death...

Wondering how to maximize your Social Security benefits? It’s not as difficult as you may believe. Here are three options almost anyone can do. Not so long ago, baby boomers viewed Social Security as a retirement program for old...

As super storms and natural disasters continually remind us, it’s important to have an emergency plan ready to go so when disaster strikes, your most valuable assets are protected. Financial planning typically involves...

It’s time to gather paperwork and prepare your returns by April 18th. Since it’s likely been a year since you last spoke to your CPA, it’s important to outline any changes in your personal situation and familiarize...

You're shopping for your first car and looking for deals. Unfortunately, there's one thing you probably won't be able to get a deal on--your auto insurance. That's because single drivers under age 25 are in the highest risk category...

If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital....

The usual method for estimating spending needs in retirement is to take your post-retirement household budget and tack on an inflation rate, such as 3%. Not so for health expenses. Some expenses increase at a faster rate than the...

When you die, you leave behind your estate. Your estate consists of your assets — all of your money, real estate, and worldly belongings. Your estate also includes your debts, expenses, and unpaid taxes. After you die, somebody...

You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe...

Continued earnings could increase your Social Security benefit depending on your situation. One thing is for sure: working part-time at reduced pay will never cause your benefit to go down. A common question among people in their 60s...

One of the biggest drains on your account may not be the market but rather family requests for money that may never be repaid. Preserve assets—and emotional health—by setting up a "family bank" where loan requests are...

Repayment Options for Student Loans What is it? When you begin repaying your federal student loans, you will need to select a repayment option. In the past, the federal government offered only one option: a standard repayment plan...

Studies show caregiving duties begin to take up more and more time as caregivers age. Fortunately, resources are available to help caregivers and their loved ones manage housing, budgeting, driving, and more. Although many people take...

Considering a New Employment Opportunity What is it? In the past, workers stayed with the same company for years and years, working their way up in the company. However, times have changed. Businesses facing hard economic times...

Parents may assume they earn too much to qualify for financial aid. However, there are a number of strategies that even wealthy families can employ to cut expenses. Here are seven steps for estimating costs and maximizing financial...

You are not the only one who needs to be on guard about their personal data safety. Minor children are 35 times more likely thanadults to suffer ID theft. Here’s what parents need to know. The latest target of identity thieves is...

Life insurance is an agreement between you (the policy owner) and an insurer. Under the terms of a life insurance policy, the insurer promises to pay a certain sum to a person you choose (your beneficiary) upon your death, in exchange...

What can be worse than losing a spouse—especially when there are still young children to raise? How about being forced to go through probate and losing needed assets to ex-spouses and estranged family members? If only there had...

The decision on whether to sell or rent your home is trickier than other financial decisions because of the emotional ties you have to your home. To make the best decision possible, evaluate the income, growth, and tax advantages of...

Some of our best investors rose from the ashes of devastating events. As you tackle the challenges of the current market environment, take inspiration from investors who persevered, survived, and prospered. “Regardless of who you...

Maybe. It depends on how old your children are, and how long you've worked in a job where you've paid Social Security taxes. To be eligible for Social Security benefits when you die, your children must be age 18 or under (19 if still...

Knowing how much retirement income you might receive from Social Security may help you decide when to begin claiming benefits, and how Social Security might fit into your overall retirement income plan. One way to get an estimate of...

If you've finished college within the last few years, chances are you're paying off your student loans. What happens with your student loans now that they've entered repayment status will have a significant impact —positive or...

In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a...

It’s no secret that many potential and existing clients can be heavy social media users, and one of their top social networks is LinkedIn. Build a system that will lead to quality connections. Most CPAs are on LinkedIn—but...

There are eight common money behavior patterns or ‘archetypes’ battling it out in every investor. Being aware of your unconscious attitudes and behaviors toward money can give you an edge in managing your finances. Have you...

It’s a touchy subject, but a life expectancy analysis is the best way to ensure you will have enough money to live your later years in comfort and ease. What do people fear the most in retirement? Outliving their income. And what...

With data breaches occurring more and more, it is important to protect personal information stored in online accounts with secure passwords. The majority of passwords do not pass the test. Learn how to create a password that will help...

The most accurate and reliable way to determine your spending needs in retirement is to sit down and make up a budget projecting costs in the areas of housing, utilties, food, transportation, leisure activities and so on. Depending on...

Whether you are managing debt, investing assets, or developing an estate plan, changes in interest rates represent an excellent opportunity to review your financial plan and consider new strategies designed to capitalize on changing...

FINANCIAL PLANNING 1. Cares more about you and your money than anyone who doesn’t share your last name. 2. Guides you to think about areas of your financial life you may not have considered. 3. Formalizes your goals and puts them...

Medicare and health insurance open enrollment starts on October 15th. To help you find the best coverage for your money, here’s a step-by-step checklist of health care items to review annually. Each fall, it’s important to...

Here’s how to get a jump-start on creating a system to organize your bills, statements, policies, and other financial paperwork. Financial organization is a cornerstone of a healthy financial life. At the most basic level,...

FINANCIAL PLANNING 1. Cares more about you and your money than anyone who doesn’t share your last name. 2. Guides you to think about areas of your financial life you may not have considered. 3. Formalizes your goals and puts them...

It’s not easy to contemplate your own mortality, but a good estate plan can provide for your heirs, protect your assets, and promote family harmony once you’re gone. Estate planning is complex and because it involves facing...

The American Revolution was a gambit underpinned by iconoclastic ideas, unwavering principles, and tenacious effort. This July Fourth, let the example of the founding patriots inspire you to your own success. “Nothing important...

Social Security is more complicated than most people think. Here are six of the most common questions that come up on Social Security. With the baby boom generation entering retirement, there’s alot of demand for good Social...

A week hardly passes without news of credit card and identity theft. Here are some security measures you can take, including some you’ve not likely heard of before now. About a year ago, I was sitting down to dinner with my...

IRA or 401(k)? Know the key differences between these two popular retirement plans to ensure you are saving in the right account. Indvidual retirement accounts (IRAs) and 401(k)s share a lot of similarities. They are both retirement...

There's no doubt about it — going through a divorce can be an emotionally trying time. Ironing out a divorce settlement, attending various court hearings, and dealing with competing attorneys can all weigh heavily on the parties...

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...

Planning for marriage should involve more than just picking out invitations and deciding whether you should serve chicken or fish at the reception. More importantly, you'll want to take a look at how marriage will impact your financial...

When investing for retirement, you're likely to hear a lot of well-meaning guidance from family, friends, and others offering advice--even the media. As you weigh the potential benefits of any commonly cited investment rules, consider...

How much life insurance do you need? Your life insurance needs will depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. For example, when you're...

You've worked hard over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that...

Retirement Plan Considerations at Different Stages of LifeThroughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your...

Key Estate Planning Documents You NeedThere are five estate planning documents you may need, regardless of your age, health, or wealth: 1. Durable power of attorney 2. Advance medical directives 3. Will 4. Letter of instruction 5....

With age comes responsibility, so if you're a young adult in your 20s or 30s, chances are you've been introduced to the realities of adulthood. While you're excited by all the opportunities life has to offer, you're also aware of your...

If your employer-sponsored 401(k) or 403(b) plan offers pre-tax, Roth, and/or non-Roth after-tax contributions, which should you choose? How do you know which one might be appropriate for your needs? Start by understanding the...

1. What is long-term care? Long-term care refers to the ongoing services and support needed by people who have chronic health conditions or disabilities. There are three levels of long-term care: Skilled care: Generally round-the-clock...

Section 529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today. Much like the way 401(k) plans changed the world of retirement savings a few decades ago, 529 college

Many students take out federal and/or private student loans to pay for college or graduate school. This article focuses on federal student loans, highlighting current interest rates, borrowing limits, and repayment options. Private loans a

Financial Aid for CollegeABCs of Financial AidPositioning Your Income and Assets to Enhance Financial Aid EligibilityMajor Federal Financial Aid ProgramsDirect Unsubsidized Stafford LoanDirect Subsidized Stafford LoanPerkins LoanDirect...

These days, it's hard to talk about college without mentioning financial aid. Yet this pairing isn't a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college

There are a number of strategies you can implement to try to enhance the amount of federal financial aid your child receives. These strategies take advantage of the federal rules about which family income and assets are counted in determini

There are several federal financial aid programs that can help students and their families pay for college and graduate school. These include federal loans, grants, and work-study. To be considered for any these programs, you must fill out

Many parents pay for college with a combination of current income, savings, and financial aid. By learning the basics of financial aid, you'll be able to understand how the aid process works and compare the aid awards your child receives.

Although most of us recognize the importance of sound retirement planning, few of us embrace the nitty-gritty work involved. With thousands of investment possibilities, complex rules governing retirement plans, and so on, most people don't

Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax,and reduce the amount of

The maximum amount you can contribute to a traditional IRA or Roth IRA in 2017 is $5,500 (or 100% of your earned income, if less), unchanged from 2016. The maximum catch-up contribution for those age 50 or older remains at $1,000. (You can

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses, but also what sources of retirement income you'll have and how long you'll

Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax,and reduce the amount of

Taxes can take a big bite out of your total investment returns, so it's encouraging to know that your employer-sponsored retirement savings plan may offer a variety of tax benefits. Depending on the type of plan your employer offers, you ma

If you're considering the purchase of an individual bond or even a bond mutual fund, one of your first concerns will be its yield. However, when comparing various yields, you need to make sure you're not comparing apples to oranges. The yie

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached.That's where financial planning comes in.

You may have lost your job already, or it's something you're concerned about. Either way, the keys to surviving a job loss financially are to plan ahead, take stock of your income, and cut your expenses.

Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over how you spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance called

For parents and students trying to manage college bills and student loan payments, the federal government offers education-related tax benefits. The requirements for each are different, so here's what you need to know.

Planning your retirement income is like putting together a puzzle with many different pieces. One of the first steps in the process is to identify all potential income sources and estimate how much you can expect each one to provide.

Women are increasingly taking responsibility for managing their own money. That includes those who in the past may have left investing to a spouse because they were busy raising a family or had no interest in the subject, but who have since

Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your

How well do you understand personal finance? The following brief quiz can help you gauge your knowledge of a few basics. In the answer section, you'll find details to help you learn more.

Losing a loved one can be a difficult experience. Yet, during this time, you must complete a variety of tasks and make important financial decisions. You may need to make final arrangements, notify various businesses and government agencies

Whether you're a current business owner or a budding entrepreneur burning with the next great idea, one of the most important steps you can take on your road to success is creating a business plan. Why? A well-thought-out and well-written b

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you have

The holiday season is here, and with it, the inevitable surge in holiday purchasing. Be it presents for the whole family, travel expenses, or hosting that perfect dinner party, the holidays are often accompanied by seemingly unavoidable and

An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need

One of the longest-standing debates in investing is over the relative merits of active portfolio management versus passive management. With an actively managed portfolio, a manager tries to beat the performance of a given benchmark index by

Stocks, bonds, and cash are fundamental components of an investment portfolio. However, many other investments can be used to try to spice up returns or reduce overall portfolio risk. So-called alternative assets have become popular in rece

A chocolate cake. Pasta. A pancake. They're all very different, but they generally involve flour, eggs, and perhaps a liquid. Depending on how much of each ingredient you use, you can get very different outcomes.

With the wide variety of stocks in the market, figuring out which ones you want to invest in can be a challenging task. Many investors feel it's useful to have a system for finding stocks that might be worth buying, deciding what price to p

Choosing a financial planner can be a tedious process. Finding someone with the experience and expertise to make your money work for you is a big job that shouldn’t be entrusted to just anyone. Whether you’re saving for retirement, growing

In a perfect world, both halves of a couple share the same investment goals and agree on the best way to try to reach them. It doesn't always work that way, though; disagreements about money are often a source of friction between couples. Y

Some people go swimming by diving into the pool; others prefer to edge into the water gradually, especially if the water's cold. A decision about putting money into an investment can be somewhat similar.

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December

Retirement — relaxing in a summer home, traveling the country in an RV, playing with the grandkids, or spending time enjoying the things and people you love. Although retirement might seem like a far-off dream, it will be here sooner rather

It wasn't so long ago that many investors regarded dividends as roughly the financial equivalent of a record turntable at a gathering of MP3 users--a throwback to an earlier era, irrelevant to the real action.

Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax,and reduce the amount of

An individual retirement arrangement (IRA) is a personal retirement savings plan that offers specific tax benefits. In fact, IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k

If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options.

Creating a resume, applying for jobs, asking for letters of recommendation – when applying for a job, the list of items to check off before getting your foot in the door can be daunting. But once you’ve landed the job of your dreams and

If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with fr