Investing Missteps to Avoid

A disciplined investing strategy, whether for a child's college costs or your retirement, can help you potentially grow your savings over time. However, success depends partly on avoiding obstacles that can trip you up, and understanding uncertainty is always a part of investing. When investing for the long haul, beware of these obstacles.

Expect the Unexpected

Recent years have been exceptionally challenging! With a global pandemic, civil discord, flooding, and market volatility, business owners and individuals alike have a renewed appreciation for the value of risk management. Of course, insurance plays an important role in managing risks.

Act Now! Year-end Tax-Saving Opportunities

As the year draws to a close, it's time to maximize your current year's tax deductions and other tax planning opportunities. Here's a brief checklist of moves you can make to help reduce current or future tax exposure.

Tools to Help Automate Retirement Investing

Company-sponsored 401(k) plans have undergone significant changes over the years, including matching contributions from your employer and automatic enrollment, rebalancing, and contribution escalators. Even if you don't have these options, you can still model your retirement investing behavior after some of these plan features.

The Gift of Life Insurance

In this season of giving, some people want to give more to a favorite charity or organization but don't have the funds to do so. Giving the gift of life insurance is a cost-efficient way to increase your charitable giving.

Year-End Tax Planning

Ideally, you have strived to minimize your taxes all year. Good news! Here are some year-end strategies that may help cut your tax bill even more. Before implementing these or any yearend strategies, talk with your tax advisor.

When Should You Start Social Security Retirement Benefits?

For many years, financial professionals have recommended that most people strive to delay taking Social Security benefits until age 70. The reason: Every year you delay starting benefits increases your eventual monthly check by 8%, in most cases. If you get your full retirement benefits at age 66, waiting until you are 70 will increase your monthly benefit by 32%.

Choose a Trustee you Trust

Choosing a trustee can be relatively simple compared to setting up a trust. But not always. Money can drive a wedge between even the closest families, so choosing between a loved one, a professional advisor or a financial institution as trustee isn't easy.

Your Business Needs a Succession Plan

Running a small business is not for everyone, but younger family members often want the challenge of taking over when founding generations retire. If you're part of a family business, here's how you can work toward continuing the business from one generation to the next, even in times of uncertainty like these.

Budget-Saving Holiday Travel

Americans usually travel during the holidays, and even with thoughtful planning, it can cost more than a few dollars. Here's how to save money on the ground and in the air.

Post-Holiday Shopping Deals

If you want to score big on bargain-priced goodies, one of the best times to buy is right after the holidays. Here's how to rack up big money-savings as you start on next year's holiday shopping.

What Homeowners Insurance May Not Cover

Your home is your castle. You don't want to risk anything that might diminish its value or comfort. But many people do this by not knowing what their homeowners' insurance policy covers and inadvertently underinsuring their property. Year-end and the start of a new year is a good time to review all your insurance needs with your trusted professional. Here's some information to know beforehand.

Swap Real Estate to Defer Capital Gains Taxes

Mention a Section 1031 exchange, and many investors in real estate immediately think, "minimize capital gains taxes." But a 1031 exchange may provide other advantages.

Revocable vs Irrevocable Trusts

With this issue, we continue our trust segment with revocable and irrevocable trusts. Each serves a different purpose in estate planning. Your legal and financial professionals can give you more details.

U.S. Citizens Give Generously

Americans gave an estimated $557.16 billion to U.S. charities in 2023, according to Giving USA 2023: The Annual Report on Philanthropy for the Year 2023 (from the Giving USA Foundation, the Giving Institute, and the Indiana University Lilly Family School of Philanthropy). The total includes charitable contributions made by individuals, estates, foundations, and corporations.

Don't Be Your Own Worst Investing Enemy

Many investors aim to have their gains match or beat a standard investment benchmark. According to Dalbar's annual Quantitative Analysis of Investor Behavior, 2024, the average investor falls short, earning 5.5% less than their targeted stock benchmark and 2.63% less than their chosen fixed income benchmark.

With Time on Your Side

Charitable Giving By Affluent Households

The 2022 volunteering and charitable giving behaviors of affluent individuals and households are trending consistent with previous years.