- Ask an Advisor: Can I Retire at 62? I’m 60 With a Pension, $700K Annuity and $100K in Cash
Can I retire at 62 ½? I have a pension that will be $1,300 a month. I will have $100,000 in cash and I have an annuity that’s currently worth $711,000. I’m currently 60. – James What you’re asking doesn’t sound unreasonable, but as always, it depends on your individual situation and what your specific… read more…
- Tax Benefits for Students: Rules, Credits and Deductions
The tax code includes several provisions that can reduce the cost of education, from credits that directly lower what you owe to tax-advantaged savings accounts. The American Opportunity Tax Credit, Lifetime Learning Credit, student loan interest deduction and 529 plans each come with their own eligibility rules, income limits and restrictions on how they can… read more…
- VA Benefits for Dependents: Types and Requirements
Support for a military family doesn’t end when service is complete, and neither do the benefits. The U.S. Department of Veterans Affairs offers a range of programs designed to help spouses, children and even parents access health care, education funding and financial support1. Knowing what’s available and how to qualify can make a meaningful difference… read more…
- Durable vs. General Power of Attorney: Definition, Scope and Differences
The key distinction between general and durable powers of attorney centers on what happens if you become mentally incapacitated. A general power of attorney automatically terminates the moment you lose mental capacity. At precisely the time you need help most, it could potentially leave you with no one legally authorized to manage your affairs. A… read more…
- Ask an Advisor: When Can I Withdraw the $10K I Converted When I was 72?
I converted $10,000 from a traditional IRA to a Roth IRA when I was 72 years old. When can I withdraw this money without a penalty? I am currently 73 years old. – William The short answer is you can withdraw those converted funds from your Roth IRA at any time without incurring a penalty.… read more…
- Financial Planning for New Parents: Steps to Protect Your Growing Family
Having a baby changes everything about your financial life. New expenses you may have never considered hit your budget. Your insurance needs shift dramatically because someone now depends entirely on you. Taxes become more complex but potentially more favorable. And the question of what happens to your child if something happens to you becomes impossible… read more…
- How to Teach Kids About Money: Tips and Examples By Age
Research from Cambridge University shows that children begin forming money habits by age seven. This means the financial conversations you have with your kids now shape how they handle money for decades to come.1 These early experiences with saving, spending, and delayed gratification create patterns that persist into adulthood, influencing everything from how they budget… read more…
- Family Office Advisor: Client Services and Examples
Managing significant wealth across investments, taxes, estate planning, insurance and philanthropy can become complex to oversee. A family office advisor can serve as a central point of contact across all of these areas, bringing together specialists and strategies that might otherwise remain disconnected. A financial advisor can help you create an investment strategy that aligns… read more…
- Ask an Advisor: Will Collecting My Late Husband’s Social Security Impact My Paycheck?
I turned 66 in December and I’m still working. My deceased husband would be 67 if he was still alive. Can I receive his Social Security now without any money taken away from my paycheck? – Sharon I’m sorry to hear about your husband, Sharon. If you claim your Social Security survivor benefit now, you… read more…
- Steps to Unfreeze Your Credit With All 3 Credit Bureaus
If you’ve frozen your credit to protect yourself from identity theft, you’ll need to unfreeze it before applying for a loan, credit card, or other financial product. The good news is that unfreezing your credit is quick, free, and can often be done instantly online. We’ll review how the process works at each of the… read more…
- How to Pay Off Your Mortgage in 10 Years: Options and Examples
Imagine what your financial life would look like without a mortgage payment hanging over your head every month. For most homeowners, a 30-year mortgage feels like a lifetime commitment, but it doesn’t have to be. With the right strategy and enough discipline, it’s entirely possible. If you can pay off your mortgage in just 10… read more…
- How to Finance Home Improvements: Options and Examples
It might be a leaky roof, an outdated kitchen or a bathroom that needs an upgrade. Whatever the project, most homeowners have something they’d like to fix or improve. The challenge is often the cost. Home improvement projects can easily exceed five figures, and many people don’t have that kind of cash on hand. While… read more…
- Trump Accounts for Kids: How Much Your Child Could Have by Age 18 and Beyond
Trump Accounts for kids are designed to give children a government-funded starting balance that can grow over time through investment returns and additional contributions. For example, a $1,000 deposit earning roughly the average annual return of the S&P 500 could reach about $5,560 by age 18 or nearly $490,370 by age 65 without additional contributions.… read more…
- Ask an Advisor: What Taxes Will My Daughter and Granddaughter Pay When They Inherit My IRA?
My daughter and granddaughter are my IRA beneficiaries. I understand they have to take all withdrawals within 10 years, but what are the tax implications? Will they have to pay inheritance AND income taxes on these withdrawals? – Linda The tax treatment of inherited IRA withdrawals depends on both federal rules and, in some cases, state… read more…
- Risk Management for Small Business: Services and Examples
Running a small business involves handling many responsibilities at once, including managing risk. Every business faces threats that could disrupt operations, affect finances or lead to legal liability. Preparation can play a role in how a business responds when those threats arise. A financial advisor can help you identify the specific risks your business faces… read more…
- Ask an Advisor: Can I Invest in a Real Estate Project Within My Roth IRA? Will the Future Growth and Income Be Tax-Free?
I own a small patch of land, mortgage free and zoned for commercial use. I’d like to hire a contractor to put a commercial building up on the property. Rather than finance it with a bank and have them profit from the interest income I’d like to use my Roth IRA to invest in the… read more…
- Can Financial Advisors Beat the Market? Returns and Risks
The data on market-beating performance is clear: the vast majority of professional money managers don’t beat their benchmarks over the long term. But the real question isn’t whether advisors beat the market. Instead, it’s whether or not they help you achieve better financial outcomes than you would on your own. While a financial advisor can’t… read more…
- Estate Planning for Married Couples: Services and Examples
Marriage is a partnership in life, and it should be a partnership when it comes to planning for the future, too. A lot of couples assume everything will automatically go to the surviving spouse, but estate laws and beneficiary rules don’t always work that way. Without a clear plan, your family could end up dealing… read more…
- Wealth Management for Women: Milestones, Services and Examples
Wealth management for women focuses on building and protecting wealth in ways that account for the financial realities women are more likely to face. Longer life expectancy, career breaks for caregiving, pay gaps, and major life changes like divorce or losing a spouse can all shape the financial picture over time. And because most women… read more…
- Wealth Management for Doctors: Services and Examples
Physicians tend to earn well, but the financial picture is often more complicated than it looks. Between high tax exposure, student loan debt, and years of training that delay real wealth building, many doctors start saving later than most professionals. On top of that, decisions around practice ownership, partnership income, and when to retire add… read more…
- Wealth Management for Business Owners: Services and Examples
Unlike traditional employees, business owners often have income tied directly to company performance, fluctuating cash flow, and ownership equity. A significant portion of their net worth may be concentrated in a single asset: their business. This creates unique challenges related to diversification, retirement planning, tax strategy, and succession preparation. As such, wealth management for business… read more…
- Wealth Management for Families: Milestones, Services and Examples
Unlike individual planning, family wealth management addresses shared financial responsibilities such as supporting children, household expenses and long-term savings goals. These needs often change over time as families experience major milestones such as buying a home, increasing income, or planning for retirement. Wealth management for families also focuses on lining up investments, risk management and… read more…
- Ask an Advisor: I Feel ‘Very Uncomfortable’ Sharing My Investment Info With a Financial Planner. Do They Need to Know This?
My husband and I have buckets of assets (both retirement and taxable investments) that we are considering for “management.” We are retired, have no debt and can live on income and RMDs. I don’t understand and feel very uncomfortable providing statements outside of an advisor’s normal onboarding process. We have very clear goals and are considering… read more…
- Financial Counselor vs. Financial Advisor: Services and Examples
If 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…
- Wealth Management for Professional Athletes: Services and Examples
A 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…