Blog

While many of us have been conditioned to expect a regular bonus from work or some other gift of money, either from living relatives or through an estate, there is still a big thrill when circumstances drop a big pile of money ...

When the One Big Beautiful Bill (OBBB) Act was passed on July 4, the legislation left several unanswered questions that the IRS is now addressing.

Stocks powered ahead in the third quarter as solid economic data, strong corporate results, and a positive shift in Fed policy drove market momentum...

“Adjusted for inflation” is a phrase you may think isn’t important. But when you see it in action, you might change your mind.

A quick glance at the latest tax law overhaul

Quarterly Market Insights U.S. Markets Markets rose in the second quarter as investors witnessed the new U.S. trade policy's impacts unfold, while tensions continued in the Middle East...

We are in the midst of an unprecedented transfer of wealth, with trillions of dollars being moved from one generation to the next. This transfer challenges many commonly held notions as new values and interests become more prominent....

Each month, you settle down to pay bills. You pay your mortgage lender. You pay the electric company. You pay the trash collector. But do you pay yourself?

Every investor knows there are highs and lows during the year. The challenge is remaining focused during the lows. As the 2025 tariff talks have progressed...

U.S. MarketsStocks fell in the first quarter as investors contended with economic uncertainty, inflationary concerns, and evolving tariff talks...

Smartphones have emerged as a prevalent channel for cyberattacks due to their continuous internet connectivity, the vast troves of personal data they carry, and their frequent use for sensitive activities like banking...

Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three important questions.

U.S. Markets Stocks posted solid gains in Q4 as investors navigated the presidential election, overseas unrest, and Fed rate cuts. The Standard & Poor’s 500 Index rose 2.07 percent, while the Nasdaq Composite surged 6.17 percent. By...

The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Keep in mind that this update is for informational purposes only, so please consult with an accounting or tax professional...

As you build your legacy, considering how to leverage your charitable contributions can be a fulfilling endeavor. Qualified Charitable Distributions (QCDs) can offer an opportunity to support your favorite causes ...

Stocks posted solid gains in Q3 as investors cheered the Fed’s decision on interest rates.

According to recent statistics, data breaches have become common in today's digital world. In fact, it is estimated that more than 111.7 million Americans have their personal information exposed to data breaches every year...

A recent survey found that 18% of workers are very confident about having enough money to live comfortably through their retirement years.

U.S. Markets Following a rocky start, stocks finished the second quarter higher as investors remained optimistic the Fed will manage interest rates with inflation trending lower.

Social Security has been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? Here are nine things that might surprise you.

Regardless of how you approach retirement, there are some things about it that might surprise you.

Stocks climb in Q1 on AI news, soft landing talk, and dovish comments from the Fed.

Get ready to celebrate your financial birthdays.

Understanding how capital gains are taxed may help you refine your investment strategies.

Stocks rallied in Q4 thanks to falling bond yields and the anticipation of potential Fed easing.

The Internal Revenue Service recently released updated income tax brackets, standard deduction, and retirement contribution limits for the 2024 tax year. While these taxes are not due for some time, it may benefit you to start thinking...

The Social Security Administration recently announced that over 71 million Americans, including Social Security and Supplemental Security Income beneficiaries, will receive a 3.2% increase in their benefits for 2024.1 However, it is...

U.S. Markets Stocks lost a portion of their first-half gains in the third quarter as a continued tight monetary bias from the Federal Reserve sent bond yields higher, unsettling stock investors throughout August and September...

Contact all three credit bureaus individually to get a freeze, which is the best protection for your credit files. A credit freeze keeps the sensitive data in your credit files from being accessed without your specific consent...

Many Americans, through circumstances beyond their control, find themselves needing to retire earlier than anticipated. Whatever the circumstances, it’s difficult not to feel wrongfooted and hurried by the situation.

U.S. MarketsStocks extended their rally in the second quarter, boosted by cooling inflation, the prospect of a shift in monetary policy, and enthusiasm over artificial intelligence.For the three months ending June 30, the Dow Jones...

We are honored and pleased to announce that Michael Scott has been recognized by Hornor, Townsend & Kent, LLC (HTK), as a Summit Advisor, ranking as one of the Top 10 Advisors of HTK’s 500+ financial professionals across the US...

U.S. Markets Stocks posted solid gains in the first quarter as investors navigated corporate earnings, shifting monetary signals, and troubles in the banking sector. For the three months ended March 31, the Dow Jones Industrial Average...

Even those who have saved millions must prepare for a lifestyle adjustment. A successful retirement is not merely measured in financial terms.

The Biggest COLA Increase Since 1981

Glenn W. Nelson*, CFP, CLU, ChFC

Wednesday, December 14, 2022

How well do you remember 1981? Harrison Ford had his first bow as Indiana Jones in Raiders of the Lost Ark.

What can you do to help your heirs? The probate process can be expensive for some estates.

Taking Charge of Your Financial Life

Glenn W. Nelson*, CFP, CLU, ChFC

Thursday, December 1, 2022

When you are putting together a household, it isn’t unusual to delegate responsibilities.

Baby boomers entering their “second acts” should think about these matters. Retirement is undeniably a major life and financial transition.

In this Q3 recap: Stocks closed lower in the third quarter as an early summer rally ended after the Fed pledged to continue its fight against inflation.

In this Q2 recap: Stocks and bonds were rattled by rising interest rates as the Fed took aggressive monetary tightening steps to combat accelerating inflation. Higher rates and continuing supply chain bottlenecks sparked recession fears.

What do The Dukes of Hazzard, M*A*S*H, and The Love Boat all have in common? They were top-rated television programs in 1982; the last time inflation was hovering in the 7% range. When inflation is running hot, you can feel its...

Little things to keep in mind for life after work. Decades ago, there was a book entitled What They Don’t Teach You at Harvard Business School. Perhaps someday, another book will appear to discuss certain aspects of the...

In this Q1 recap: Global financial markets rattled by the Russian invasion of Ukraine. Inflation pressures rise as oil prices surge and supply chains become further stressed. The Federal Reserve is taking its first steps toward...

Wish You Were Allowed to Save More In Your 401(k)?

Glenn W. Nelson*, CFP, CLU, ChFC

Monday, January 31, 2022

In the past, most people relied on two principal sources for their retirement income: Social Security and employer sponsored retirement plans...

When people think about estate planning, they tend to start thinking about Attorneys and Trusts.  Although trusts can be a very important part of an estate plan, they may not always be necessary...

In this Q4 recap: U.S. economy confronts a new COVID-19 variant amid continuing inflation and supply chain bottlenecks. Europe institutes new social restrictions in response to a surge in Delta and Omicron variant infections...

According to the 2020 Employee Benefits Research Institute Retirement Confidence Survey (RCS), only 27% of Americans are very confident they have saved enough to retire comfortably.  This has gone up only slightly over the past...

In this Q3 recap: U.S. economic growth slows in the face of Delta variant headwind. Europe’s economic outlook remains positive. Stocks retreat from record highs; confront a bevy of challenges.

At every point in someone’s career they can use some financial guidance from starting their first job to preparing to leave the workforce for good. As we get closer to reaching our financial goal the more important the planning...

In this Q2 recap: U.S. economic growth strong as reopening widens. Europe’s recovery picks up steam; Stocks reach new record highs, face new interest rate and inflation landscape.

Investment firms have a new client service requirement. They must now ask you if you would like to provide the name and information of a trusted contact.1 You do not have to supply this information, but it is encouraged. The request is...

New inherited I.R.A. rules took effect on January 1, 2020. The Setting Every Community Up for Retirement Enhancement (SECURE) Act became law on that day, altering the regulations on inherited Individual Retirement Account (I.R.A.)...

America is enduring a data breach problem. As many workers traded in the office for remote work, data security has been a focus for the public and private sectors.

In this Q1 recap: U.S. economic growth gains traction as vaccination rollout picks up speed; Stocks higher, but questions about where they go from here linger.

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) ...

After a bit of political posturing in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law ...

In this Q4 recap: the appearance of two COVID-19 vaccines gives businesses and consumers hope and lifts stocks; U.S. lawmakers approve a second financial stimulus; European negotiators sign off on a post-Brexit trade deal.

As part of the CARES Act, taxpayers will be able to claim up to $300 in contributions made to a nonprofit charity this year as a deduction from their gross income if they take the standard deduction.

In this Q3 recap: stocks post further 2020 gains as the economy bounces back and the Federal Reserve announces a shift in its approach to inflation.

Each year, Plan Sponsor magazine recognizes plan sponsors who have "shown a commitment to their 401(k) participants' financial health and retirement success." The highly competitive Plan Sponsor of the Year awards are given out...

Heading into 2020, there was little doubt that the U.S. presidential election would be the biggest story of the year. The coronavirus pandemic drastically changed that narrative...

We are honored and pleased to announce that Michael Scott has been recognized by broker-dealer and registered investment advisor, Hornor, Townsend & Kent, LLC (HTK), as a Summit Advisor, ranking in the Top 5 Advisors...

As states cautiously begin the process of relaxing their COVID-19 restrictions, some are wondering, “Why is the stock market doing so well when the economy is doing so poorly?”

In this Q2 recap: the economy measures the impact of the coronavirus threat; the stock market rises with help from a dovish Federal Reserve and a rebound in some economic indicators; oil prices and mortgage rates touch historic lows.

For those tax payers who have reached the age where they are forced to take Required Minimum Distributions (at least age 70½ as of Dec. 31, 2019, or those who reach age 72 after this date), and who are also taking the standard deduction...

The Internal Revenue Service knows that many taxpayers have had a stressful spring. So, it has reset the federal tax deadline. You now have until July 15 to file your 1040 form. July 15 is also the deadline to pay any federal taxes...

Undeniably, spring 2020 has tried the patience of investors. An 11-year bull market ended. Key economic indicators went haywire. Household confidence was shaken.

Are you eligible for a stimulus check from the Treasury Department? As of Friday, April 24, the Internal Revenue Service said it had issued 88 million payments to individuals across the country.

Announcing our new website

Michael L. Scott*, CFP, CLU, ChFC

Monday, May 11, 2020

We are pleased to announce that we redesigned our website.

Fewer stocks, more annuities. That, in essence, is the advice gleaned from two just-published reports for the benefit of those living in or approaching retirement.

In this Q1 recap: COVID-19 hits the United States, followed by heavy economic volatility, government stimulus, and an as-yet untold human cost.

Key Provisions of the CARES Act: Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, and IRAs.