Financial Advisor

March 13, 2026If you are looking for professional help with your money, it helps to know the difference between a financial counselor and a financial advisor. These two roles sound similar but they focus on different things. A financial counselor typically works with people on budgeting, debt and day-to-day money management. A financial advisor focuses on investing,… read more…

March 12, 2026A professional sports career can generate life-changing income, but it often comes with an unusually short earning window and intense financial pressure. Between signing bonuses, endorsement deals and sudden lifestyle changes, managing money as a professional athlete can quickly become complex. Without a clear strategy, even substantial earnings can fade faster than expected. Wealth management… read more…

March 12, 2026Building a successful business can create significant wealth, but it can also create financial complexity that’s difficult to manage alone. For many entrepreneurs, personal net worth is closely tied to business performance. Income can fluctuate dramatically, and major decisions carry lasting tax and investment implications. Wealth management offers a structured, strategic approach to navigating these… read more…

March 12, 2026Millionaires face distinct financial challenges that require specialized strategies beyond basic money management. Financial planning for millionaires encompasses investment portfolio diversification, tax optimization, estate planning and wealth preservation across generations. The right planning approach can help high-net-worth individuals maximize returns while minimizing tax liabilities and protecting assets from potential threats. Whether you’re focused on tax… read more…

March 12, 2026Financial planning for widows addresses the shift from managing money as a couple to making all financial decisions independently after the loss of a spouse. This transition involves understanding how income sources, tax obligations and account structures change when a spouse passes away. As part of the process, it’s necessary to evaluate new benefit options,… read more…

March 9, 2026Not everyone has been fortunate to have high-earning employment during their life. That said, for those of us who have saved as best we could but do not have a substantial amount (less than $300,000), what is a realistic retirement savings goal and where do we go for advice? -Jim There’s no magic number for… read more…

March 5, 2026My husband has an annuity that he has not rolled into an IRA. If I inherit this annuity, does it work the same as if he had an IRA? Can I roll the funds into my IRA. We are both retired and are in our early 80s. – Carol No, you wouldn’t be able to… read more…

February 18, 2026Retiring at 60 with $1 million is possible for some people, but the outcome depends on how long the money needs to last, how much is withdrawn each year and what other income sources are available. A portfolio of that size may support annual withdrawals of roughly $40,000 to $50,000, before taxes and inflation adjustments.… read more…

February 17, 2026At what point should you stop contributing to your investment and retirement accounts and just let time and compound interest do its thing? I’m 39 (married with a 1-year-old) with $587,000 in a 401(k)/TSP and $135,000 in a Roth IRA. My employer matches up to 5% of 401(k) contributions. I’m planning to sell a rental… read more…

February 13, 2026Managing money as a family is rarely simple, especially when multiple goals and life changes collide. From saving for college to planning for retirement, financial decisions can feel overwhelming without a clear roadmap. A family financial planner can help bring structure and confidence to those choices—but understanding what they actually do is the first step.… read more…

February 13, 2026Whether or not a breach of fiduciary duty is a crime depends on the facts of the situation, the intent behind the actions taken and whether the conduct violates criminal statutes in addition to civil law. In many cases, breaches of fiduciary duty are resolved through civil lawsuits. However, certain behaviors can expose fiduciaries to… read more…

February 18, 2026Selling a home below its fair market value can trigger tax considerations beyond those of a standard real estate transaction. When a property is sold at a discount, the IRS may treat part of the difference between the sale price and the market value as a gift. In turn, this can affect gift tax reporting… read more…

February 18, 2026The tax implications of a parent living with you depend on several factors, including financial support, income levels and household arrangements. In some cases, you may be able to claim a parent as a dependent, which can affect credits, deductions and filing status. Shared housing can also influence eligibility for benefits related to caregiving, medical… read more…

February 9, 2026A 401(k) plan may look like a simple paycheck deduction, but behind the scenes is a legal structure that plays a critical role in protecting your retirement savings. Known as a 401(k) trust, this framework determines how your money is held, managed and safeguarded from day one through retirement. Understanding how a 401(k) trust works… read more…

February 9, 2026Help me! I read the column frequently—huge fan! I’m 47, married, and severely burned out after 25+ years in a fast-paced and stressful field. We have $750,000 in a personal brokerage account (I contribute $30,000 annually), $760,000 in a rollover IRA, $210,000 in a Roth 401(k) (plus a $13,000 company match), $150,000 in crypto, $20,000… read more…

February 6, 2026Fiduciary funds are assets that one party manages on behalf of another under a legal obligation to act in the beneficiary’s best interest. These arrangements are common in estate planning, retirement accounts, employee benefit plans and situations involving minors or incapacitated individuals. Because fiduciary fund management involves strict duties and oversight, these arrangements can affect… read more…

February 6, 2026Tapping into your home’s equity can feel like a smart financial move, especially when interest rates on other types of debt are higher. However, when tax season rolls around, many homeowners are surprised to learn that HELOC interest isn’t always deductible. Knowing these rules can help you avoid incorrect assumptions and plan borrowing more carefully.… read more…

February 6, 2026Annuities are commonly used to provide retirement income and may offer guaranteed payments or tax-deferred growth. However, annuity contracts differ widely in structure, costs and payout terms. A financial advisor can explain how a specific annuity works, how it fits into your overall financial plan and how it relates to other retirement income sources. What… read more…

February 2, 2026I would love to see some ideas on managing finances once in retirement. The timeline to invest is much shorter. You have talked about RMDs but how to manage the balance would be helpful. –Karen Retirement marks a fundamental shift in how your savings serve your objectives. During your working years, the focus is largely… read more…

February 11, 2026I am 68 and claimed my husband’s Social Security when I first retired back in 2023 because when he died in 2022, his benefit was higher than my own. I returned back to work in February 2024 and retired fully in May 2025. Would I be able to claim higher Social Security benefits since I… read more…

January 12, 2026According to an article by Brandon Renfro, there are three 5-year rules for Roth IRAs, but he talks about the first two as they apply to the reader’s question. He explains the 5-year rule for Roth contributions and the 5-year rule for Roth conversions. I’m just interested in the second rule as I’m considering converting… read more…

January 5, 2026I draw my husband’s Social Security but I’m also working. How much money can I earn for the year? –Janice It’s quite common to collect Social Security retirement benefits and still work. In fact, some people never quit their job. Others may choose to take on part-time or gig work into their 70s and 80s… read more…

December 23, 2025A high-yield savings account for emergency fund purposes combines safety, liquidity and higher returns than a traditional savings account. These accounts let your emergency cash grow without locking it away or exposing it to market volatility. Whether you’re starting from scratch or fine-tuning your reserves, knowing how to use a high-yield savings account can strengthen… read more…

December 18, 2025Managing your money involves setting goals, organizing your finances and deciding how to use your resources over time. Wealth management and financial planning both support these decisions, but they serve different roles and are often used at different stages of wealth. They also differ in scope, cost structure and the level of ongoing involvement they… read more…

December 30, 2025I’m 68, single and retired. I started claiming Social Security at 65 and my house is paid off completely. I have two fixed annuities: one for $300,000 at 5.5%, due to mature in 2026, and one for $100,000 at 4.5%, due to mature in 2028. RMDs are looming in five years when I will be… read more…