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When it comes to financial planning, people often think of financial professionals as people who assist with strategies for retirement planning. That is one aspect of their job; however, financial planning and working with a financial...

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn't it? But that's what...

Financial education is constantly evolving. As investments, financial priorities, and the economy change, so do financial strategies and plans. To stay on top of your retirement and ensure that you are on your way toward your financial...

As of 2017, about two-thirds of all nonprofit organizations in the U.S. had annual budgets of less than $1 million.[1] For these non-profit organizations where every penny has a purpose, having the services of a financial...

Retirement planning is a constantly evolving process. Strategies that may have worked fine a few years ago may no longer be the optimal direction to continue. Your life may have taken unexpected turns, you may have different retirement...

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change. It’s a theme...

Financial freedom is a state of being in control of one's finances, covering expenses easily, and saving for future goals. Financial freedom enables you to choose how you spend or interact with your money and have the choice to decide...

What is it?Most people don't expect to become disabled and are unprepared when they are unable to work due to illness or injury. The fact is, however, that you are much more likely to become disabled than die during your earning years....

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.When you hit a certain age of your life, you may...

Members of the "sandwich generation"—those taking on the care of their aging parents while also raising children or financially supporting adult children—may feel stressed and overextended. Most current sandwich generation...

When it comes to your retirement, there are three factors that you may want to take into account when planning for your retirement income needs.  First, the deductibility of Individual Retirement Account (IRA) contributions...

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

You may have accounts spread across several institutions, such as your bank accounts, brokerage investments, 401(k), 529 education savings plans, etc. By utilizing Account Aggregation, you can collect and centralize all your financial...

Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little...

What is it?Life insurance is not only about protecting your survivors in the event of your death. Depending upon the type of policy you purchase, it can also enable you to meet specific life goals: retiring comfortably, paying for your...

Whether you are an employee in corporate America or a small business owner, retirement is a part of life. For many, the thought of retiring and whether or not you are ready to take those first steps might be overwhelming or...

Once you are in your 60s, you are likely to focus less on growing your retirement funds than answering, "When do I retire?" And once you crack open your nest egg, how should you allocate its contents? The answer often lies in a...

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and...

Increasing your financial literacy may allow you to make better decisions about your money and your financial future. Many great resources are available to get you started on the path to financial literacy and to expand your current...

Planning for retirement is exciting, but it may come with a bit of stress. If you worked hard all your life, now might be the time to relax and enjoy the fruits of your labor. One of the things that you may need to consider is when it...

Could you be losing money because of simple monetary mistakes? Avoid these money-wasting habits in 2023 to have more cash when you need it—or save it for a rainy day. Failing to budgetConventional wisdom says to follow the...

Targeted scams have become even more popular with the amount of personal information readily available on the internet. Social Security recipients are, unfortunately, targeted by some of the most sophisticated scam artists out there....

With the signing of the Omnibus Appropriations package into law, both employees and employers can take advantage of more than 90 new provisions aimed at creating opportunities to create or modify workplace retirement plans and...

Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged...

When you start to consider if investing is an appropriate option for you, you may have questions. You might want to ask:How do I invest money, and where?How much money will I need?What are some common strategies for someone that has...

As the year has still just begun, probably the last thing on your mind is filing your taxes in spring. But if you start assembling the necessary documents and information now, you’ll experience less stress and be in a far better...

Hopefully, you’re planning to give all of your loved ones plenty of affection this Valentine's Day. But what if you weren’t around? To make sure everyone is fully protected when you’re gone, you need an estate plan....

When was the last time you gave yourself a financial checkup? As the saying goes, there’s no time like the present. This is especially true when it comes to reviewing the current state of your finances and figuring out what you...

Whether you’re just starting your career or are planning to retire this year, it’s never too soon or too late to start preparing for your retirement. What this entails may be different from person to person, but there are a...

Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to...

Though the New Year may bring with it a new opportunity to set and achieve financial goals, the thought of making sweeping changes to your budget and lifestyle may be overwhelming. What can you do to improve your odds of success in...

Financial wellness is living a healthy economic life for yourself and feeling good about your financial situation. It is also an essential part of taking care of yourself and those around you. Financial wellness can mean different...

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount...

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets...

Just as every snowflake is unique, so is every person's retirement plan. Though there are some general strategies that can be helpful—contribute at least 10% of your salary; have at least one year's salary saved for retirement by...

If you struggle to find a gift for the person who has everything—or want to do your holiday shopping without having to leave the house—consider giving stock as a gift. Doing so is easier than you think, and it may offer a...

For many investors, this year has been a wild ride—with interest rate increases, a crypto implosion, and whipsawing values in the major market indices. It might be tough to catch one's breath and look ahead to next year. But the...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...

Normal retirement age used to be 65, but things are way different today You might be thinking about retiring, but how do you know when you are really ready for it, mentally and financially? For decades, the normal retirement age was 65...

What are appropriate checklists for year-end tax planning?Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...

A list of things to consider as you think about year-end charitable donations With its family traditions and festive celebrations, the holiday season is the most wonderful time of the year. And according to GivingTuesday.org, the...

No matter where you are in life, you may have at least a few financial goals. Perhaps you want to buy a house, save for your child’s college education, or retire early. Regardless of what your goals are, financial planning can...

COVID-19 and remote work is continuing to increase the need for internet security. Social distancing has increased device use and strained security protocols. Although cyber-security attacks are often direct at companies, other attacks...

Those turning 65 this year have a 7 in 10 chance of needing long-term care (LTC) at some point.1 With the cost of a private room in a nursing home now topping $100,000 per year, the thought of paying this — or for a loved...

Since an unexpected death can happen at any time, life insurance is essential. While no amount of money can ease the grief that comes with losing someone, life insurance can reduce the financial burden that may arise. Here are the...

Matching your tolerance for risk with your investment objectives Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like...

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge....

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare, which...

Because inflation could reduce your purchasing power over time, you'll probably need to contribute more to your retirement plan than you think. What seems like a healthy amount now is likely to feel smaller and smaller over time.All...

Whether you've been investing for years or just made your first stock purchase, you may find that the more you learn, the more you realize you don't know. From capital gains taxes to dividends, how well do you know investing? Test your...

Few U.S. high schools have comprehensive personal finance programs, which means that some teens enter adulthood without a deep base of knowledge on topics like investing, budgeting, and consumer debt. Even those who feel they're fairly...

Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...

Almost half of all adults are part of the "sandwich generation." These are adults in their 40s and 50s who are helping support or care for a parent while also supporting or caring for a child.1 Being caught between two generations of...

You don't need to wait until the end of the year to look for ways to minimize your tax liability. Tax planning should take place throughout the year to have you prepared well ahead of tax season. Here are six ways to minimize your tax...

A bear market is a prolonged period of price declines in securities, an index such as the S&P 500, or the overall stock market of usually 20% or more from a recent high. Bear markets can also signal economic downturns such as a...

Planning for retirement can seem premature when you have only been in the workforce for a decade or so. But as the oldest Millennials begin to hit middle age, retirement suddenly does not seem so far away. From record-busting market...

In late 2019, SECURE Act was passed as a way to help Americans save more for their retirement. In March 2022, the SECURE Act 2.0 has passed in the U.S. House of Representatives and aims to improve the goals of the original SECURE Act....

If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to...

Whether you are expecting your first child or have been a parent for years, finances and building a future for your family go hand-in-hand. Luckily, there are money moves you can make now to help manage financial stress, support...

t’s hard to believe we are already approaching the end of another year, and holiday season will soon be here. Since holiday spending doesn’t include just gifting, it’s essential to set your budget now. You may likely...

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

With the holidays here, now is the time to get into the giving spirit and help to change others' lives for the better. Whether you are looking to make a difference in a specific person's life or the life of many, there are many ways to...

For many people, a new year provides a new start—and nothing says "new start" like a fresh new set of financial goals. But setting these goals is easier said than done. What steps should you take to get the most bang for your...

It may be easy to forget we're nearing the end of the year. Even during the busy end of year rush, it's a good time to reevaluate your 2021 finances and turn an eye toward 2022. What can you do now to potentially improve and streamline...

Long-term care insurance is a type of insurance that covers the costs related to long-term, chronic health concerns. It may cover things that traditional health insurance does not cover, such as personal care services. If you have a...

Tax planning can be advantageous when done during the year and well in advance of year’s end. Opportunities exist for you to mitigate tax liability, which may leave more income for you and/or your family. Generally, people put...

The holiday season is just around the corner and many charitable organizations are in desperate need of donations to help provide the vital services needed in the community. You are most often inundated with a number of charitable...

Suppose, during the middle of the workday, you receive an urgent phone call. It is the local hospital informing you that your elderly, widowed father has been the victim of a serious car accident and lies unconscious in the emergency...

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....

Whatever your age, it’s never too soon to look ahead and begin giving thought to your retirement. With proper planning, you can make the transition to retirement a smooth, comfortable and confident ride. Today, more than ever,...

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

As your life changes, your financial needs often change, as well. Regardless of whether you are just starting out in life, are in mid-career, or are at the peak of your earning years, life insurance can help you achieve a variety of...

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements...

A Primer Although we all know that “time flies,” it seems to move particularly fast as we watch our children grow. Yet, in considering a college future for a newborn, it is understandable that parents might procrastinate,...

Although it's not hard to find doom-and-gloom articles that bemoan many Americans' lack of preparation for retirement, these don't tell the whole story. One in three adults save for retirement outside their 401(k) in a traditional or...

Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.⁠11 While the number is up slightly from the...

A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic...

For many people, turning 65 provides one of the keys to retirement: access to affordable healthcare. Whether you're enrolling in the Medicare program for the first time or have been a Medicare enrollee for years, it's important to stay...

When securing your financial future, saving for retirement usually is a no-brainer. But between an IRA, Roth IRA, 401(k), 457(b), SEP IRA, and the other retirement vehicles, how can you know which plan or plans are right for you? The...

Introduction: Picking Up Speed In the first half of 2021, the U.S. economy powered forward faster than nearly anyone had expected. As we were writing our Outlook for 2021 in late 2020, our economic views were significantly more...

Financial capacity – the ability to manage your finances in your own best interest – involves everything from paying bills to reading a brokerage statement and weighing an investment's potential risks and rewards. And...

If you're living paycheck-to-paycheck or stuck in a job you don't love just to pay the bills, it can be easy to feel as though you're financially trapped. But financial freedom doesn't need to be elusive—with some focused and...

Retirement is inevitable, but knowing exactly when to do so is often unclear. No matter when you actually begin your retirement, you’ll benefit from planning your post-work life as early as possible. According to Gallup, the...

Graduation from college is an exciting time for many and signals the start of student loan repayment. If you are a recent graduate, you may have a co-signer on your student loan. If you are a parent or family member that is a co-signer...

For many Americans, the home is the single biggest purchase made during their lifetime.[1] As a result, it's important to do everything possible to keep it in good condition. Even moderate or short-term neglect can be dangerous, as...

Small business owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise....

Grandparents can often find themselves in a better financial position to save for their grandchildren's education than their own children are. The parents of prospective students may still be contending with competing priorities like...

As your retirement draws closer, you will probably start to have lots of questions such as: How much Social Security will I receive? When should I retire? How will I know when to retire? Do I have enough saved? What will I need to do...

Buying a life insurance policy is something that many people push off, sometimes until it is too late. For many people, the thought of buying life insurance means thinking about their death, which is something that most people wish to...

Unlike verbal literacy, financial literacy isn't often taught in schools—which means that many people may enter adulthood without having all the tools they need to make informed and effective financial decisions.[1] Fortunately,...

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Congress recently passed a $2 trillion relief package to support Americans, businesses, and nonprofits during the COVID-19 pandemic. Inevitably, new scams will appear to take advantage of people financially. Avoid these scams by...

For investors approaching retirement, it is important to begin thinking about retirement income planning. This involves a mindset shift from accumulating an investment portfolio designed for growth to creating a portfolio of retirement...