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Guaranteed returns, you ask? Yes, but it's complicated – one simple word can make a big difference. If you have a fixed annuity, you get a fixed rate of return. If you add one simple word "indexed" creating a fixed indexed annuity,...

We spend years of our life working and saving for that retirement dream, and as you get closer, it's important to take all steps to preserve your nest egg. Perhaps a move across state lines will help in that endeavor. Some states don't...

Cryptocurrency is a form of digital payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that...

The Social Security Administration (SSA) recently announced that the annual cost-of-living adjustment (COLA) for benefits would be 1.3%. Here's a closer look at some of the most significant changes affecting Social Security recipients...

Financial Literacy Month suggests it's time to take advantage of available tools, resources, and tips for financial education that can help increase your financial success. This month put yourself back in the driver's seat! Do a...

Don't overlook the benefits that annuities provide during your retirement planning years. Yes, some myths make them appear to be a lousy choice, but there are reasons to trust in financial insight rather than the Google results on the...

The loose definition of a financial professional is someone that provides insight intended to lead to a better outcome for your financial future. The workings of their daily routine include everything from planning to building your...

If you have a Health Savings Account (HSA) option, the benefits are worth the investment. The tax benefits of an HSA magnify the advantage of investing in, say, stock funds or diversified mutual funds. First, your contribution is...

Retirees face multiple income traps, and many retired taxpayers will see a portion of their Social Security income make its way onto the taxable income line of their 1040s. Those who convert their traditional IRAs to Roth IRAs are...

What to Do About the High Cost of Investment Income

The Internal Revenue Service announced that the nation's tax season started on Friday, February 12, 2021, but it’s important to note that the filing deadline wasn’t extended. The February 12 start date for individual tax return filers...

As if the 2008 recession wasn’t rough enough, hardships struck millennials again in 2020. Already facing professional and financial challenges, including a dismal job market, sky-high levels of student debt, and soaring living costs,...

Imagine if Goldilocks was planning her retirement: “this date is too early” and “this date is too late” but “this date is just right”! Sweet retirement can’t come soon enough for some of us, but it’s important to know precisely when...

Your business’s success is in your hands when you're self-employed, so you need to be knowledgeable about and take advantage of whatever assistance is available—especially when it comes to lowering your tax bill. It’s commonly known...

The face of identity theft has changed dramatically, evolving with the technology and economic landscape surrounding it. Understanding your exposure and staying informed of the trends and methods that thieves use to steal from you is...

“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You're on your own. And you know what you know. And YOU are the one who'll decide where to go...” ― Dr. Seuss, Oh, the Places...

This past year highlighted small businesses more than any other. The impact from a struggling economy has not gone unnoticed and the support from local shoppers has made the difference between open and closed for many small business...

All 50 states and the District of Columbia have now certified their presidential election results, and President-Elect Joe Biden will drive our next four years. What does that mean for your investments as you move closer to retirement?...

Happy New Year! It’s a new year, a new you, and a new time to do things differently—like your taxes. Tax-filing season is officially here, and there are many things you can do to be prepared and organized. Here are a few simple tips...

Did you know it’s possible for your tax bill to go up once you retire? One possible reason: A portion of your Social Security benefits could be taxed. Another possibility: Your tax-deferred retirement account tax bill comes due when...

The Social Security Administration (SSA) recently announced that the 2021 annual cost-of-living adjustment (COLA) for benefits will be 1.3%. That's a small but essential increase for millions of beneficiaries who will see a rise in...

Go beyond maxing out your employee 401(k) to find the opportunities that could save you your hard-earned cash when it comes to paying taxes. Minimize the use of Active Management for Brokerage Accounts.The more you trade, the more...

Are you wondering if you can deduct your credit card interest this tax season to move to a lower tax bracket? The answer is most likely no. The Tax Cuts and Jobs Act, signed by President Trump in 2017 was the biggest overhaul of the...

In addition to the emotional high that giving to those you care about brings, giving can now also be a savvy tax move for families with substantial wealth. That’s because both the present value and any potential growth of the...

Consider this: about 70% of Americans will require long-term care, long-term care facilities cost between $80,000-$150,000 annually, and the average stay is approximately 3 years. Those figures all add up to one thing; it’s time to...

Medicare Open Enrollment ends December 7, 2020, and there are a lot of changes that will impact Medicare Advantage plans and Part D coverage options for those ages 65+. Premium and deductible costs – The standard premium for Medicare...

Should you develop a health condition that requires part- or full-time care, and your health insurance doesn’t cover the costs, how will you pay for what you need? Answer: Long-Term Care Insurance (LTCi). The U.S. Department of Health...

As we head toward the finish line of 2020 and gear up for 2021, setting goals and getting your life in order should be a priority. One of the best places to start is by understanding your net worth and determining if you are on track...

You have worked hard to build up your retirement savings, but you can’t keep retirement funds in your account indefinitely. However, thanks to the recent SECURE Act, if your 70th birthday is July 1, 2019 or later, you can delay taking...

Medicare Open Enrollment starts October 15, 2020 and if you’re new to Medicare or if you need to review and make changes, it’s time to talk with your financial professional to ensure your future medical needs will be covered....

Social Security (SS) faces a financial challenge from the impending retirement of the largest generation in American history, the 76 million people born in the “baby boom” years (1946 through 1964). These boomers began to hit...

For most families, navigating elder care decisions falls somewhere between adult siblings happily gathering together and planning for their parent’s future and siblings who barely speak making rash decisions in an effort to end a...

2020 came in like a hurricane and it’s still stirring up the landscape nine months later. Unemployment is at an all-time high and consumer spending at its lowest. Any changes from this year’s election won’t come in time to get your...

The elections are coming up fast and with the current state of the country, we can expect a lot of changes to take place soon after the election, regardless of the outcome. Many of these changes will impact you financially so you want...

With COVID-19 at the forefront of everyone’s mind, many who have been holding off on estate planning are now prompted to quickly finalize estate plans so they will have something in place should illness or worse come calling. Without...

For young couples just getting started, new commitments, such as buying your first home or having children, bring with them the responsibility of making sure your loved ones will be provided for financially. Life insurance can help...

If the fear of outliving your retirement savings really haunts you, then looking into income sources that will keep going as long as you do may not be such a bad idea. You can potentially alleviate this financial anxiety by considering...

Election years historically bring uncertainty to the stock market, and uncertainty often translates to economic volatility. While the changing of the guard will have an impact on your retirement, changes you make today can determine if...

Have you discovered the value of podcasts for financial insight? Gaining outside perspectives is a smart way to look at your financial future. There are podcasts for all ages, genres, and cultures and they can be fiction or nonfiction...

As we head into the second half of 2020, you may notice a change in the way investment plans are presented to you by your financial advisor. The SEC implemented a new ruling called Regulation Best Interest (REG BI) that is aimed at...

The Internal Revenue Service (IRS) announced it has expanded retirement fund withdrawal eligibility to "take into account additional factors such as reductions in pay, rescissions of a job offer, and delayed start dates." The updated...

Select premium credit cards often come with a concierge service benefit and most cardholders don’t know or don’t take advantage of the service. Much like having an assistant at the office, a concierge can do the legwork for your...

The impact of COVID-19 is colossal and everyone is feeling the impact. We all know someone who needs extra care during this pandemic. Do you have the financial resources and peace of mind in place to help? Perhaps you are a child...

Everyone ages and, as a result, they eventually need personal and medical care in a comfortable living environment. Seniors are tasked with deciding what their care will look like and where they want to wake up each morning. With...

For some, the onset of COVID-19 brought about a much-needed reprieve from the traditional Spring tax deadlines. The Internal Revenue Service (IRS) extended the deadline for all taxpayers to July 15, 2020. Anyone, including Americans...

These days women not only have to worry about balancing their duties as a family manager, but must focus on their own identity as financial contributors as well. Despite being great savers and increasingly influential in the workforce,...

“I’m getting a divorce.” When one hears that statement, the first thought that frequently comes to mind is prepare for an emotional roller coaster and all the expenses that come with it. Every divorce is emotionally and financially...

Did you know that Medicare typically doesn’t cover nursing homes or any in-home care? According to statistics, someone turning 65 today has almost a 70% chance of needing some type of long-term care assistance.1 This includes...

With warmer temperatures, longer days, and spending more time at home, summer may be the prime time for home renovations. Whether it’s repainting your home, building a backyard deck, or remodeling the kitchen, modifications can not...

When it comes to growing and preserving wealth, it’s important to bear in the mind the volatility of the markets and how it could impact your retirement income. Fortunately, there are ways to help shield your savings from market woes....

Not too long ago, everything was normal and seemingly under control. Since then, the spread of the pathogen has shaken the foundation of the world we once knew and exposed the vulnerabilities of our health care systems. On March 26,...

Over the past several months, the pandemic has led many Americans to financial hardships. Individuals are fearful of how they’ll meet their financial obligations. The stimulus package may help alleviate some of the concerns, but what...

In response to the economic fallout of the COVID-19 pandemic, the CARES Act contains a number of essential measures important to the financial security of the American population. This far-reaching legislation offers protection and...

Kids and grandkids are out of school and many of us are looking for ways to keep them occupied and on track with their schooling. Below are a few free resources that you can use with your loved ones to explore the world with a simple...

Could COVID-19 change our lives forever? Undoubtedly so. The viral outbreak has absolutely upended our lives. With the stock market meltdown that began on February 20, 2020 and panicked headlines dominating the news, the financial...

Many of us are adapting to this new COVID-19-induced environment. While it can serve as a disruption, one can still be very productive in our work. To help you settle in and feel more in control of your own work while at home, we...

A pandemic poses a number of challenges that not only harms our health and our communities, but also our economies. As we’ve witnessed, the rapid-moving pathogen COVID-19 has brought daily lives of tens of millions of people to a...

The coronavirus is keeping us indoors, but you may still have to step out for essential errands like grocery shopping, grabbing take-out meals or picking up prescriptions from the pharmacy. As you’re venturing out, be cautious of...

The arrival of the COVID-19 pandemic has shook the financial stability of millions of Americans. In addition to mortgage relief, many financial institutions of all sizes, including Ally Financial, Bank of America, Citi, and Fifth Third...

With uncertainty swirling over the coronavirus (COVID-19), the markets are undoubtedly taking a hit. And while market volatility can be unsettling, it’s times like these when it’s important to remember we’re always keeping a watchful...

As the number of COVID-19 cases in the U.S. continue to rise, Americans are seeing their hours cut, jobs disappearing, and expenses adding up. While the situation remains grim and many are waiting to return to work, homeowners are...

In light of the coronavirus (COVID-19), we understand the concern and uncertainty you may be experiencing. As your entrusted financial professionals, we value not only the financial health of our clients and their families, but also...

Amid the COVID-19 outbreak, the Treasury Department and Internal Revenue Service (IRS) announced that the tax deadline is being extended from April 15, 2020 to July 15, 2020.1 This allows three additional months for taxpayers to file...

The federal tax deadline of Wednesday, July 15 (recently extended in response to COVID-191) will be here sooner than you think. And many of you may be excited about the possibility of receiving a sizable refund. After filing taxes,...

If you’re feeling behind when it comes to retirement savings, you’re not alone. A surprising 70% of Americans are either falling short or don’t know where they stand.1 If you find yourself in this predicament, it’s time to stop...

As we get older and become frailer, we may find ourselves needing help with everyday activities that’s as simple as getting dressed, eating, or getting in and out of bed. Even if we’re healthy, accidents may necessitate assistance with...

If there’s one thing almost everyone can agree on, it’s not wanting to pay taxes. After all, who wants to give up their hard-earned money to the government? The retirement savings gap is a multifaceted issue for many working people....

Life insurance proceeds can allow the bereaved to properly grieve without worrying about money. It gives families the financial protection that’s needed for potential funeral costs, living expenses, or even their financial future. If...

After working hard all your life and planning diligently to achieve financial independence, the last thing you want is having to fork over a large percentage of your income to the IRS. Even when you’ve left the workforce, taxes will...

Since its inception on August 14, 1935, Social Security has been instrumental in providing a foundation of income for many American retirees. Not only are Americans falling behind on savings for retirement, but Social Security was...

The retirement landscape is constantly in flux as Americans adapt to the ever-changing financial environment. On December 20, 2019, President Donald Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act as...

As you’re making resolutions to do things better in the new year, here are three resolutions to ensure your estate plan is where it should be in 2020: Resolve to have an estate plan in place. According to a survey, 57% of U.S. adults...

When planning for retirement, annuities can be critical to your strategy. They can provide a guaranteed stream of monthly payments that’ll last the rest of your life. Even though annuities may come in all shapes and sizes, here are...

Saving is something many people wish to do more of, but a study finds 58% of Americans have less than $1,000 tucked away in their savings.1 Because we live in a society of consumerism and consumption, we spend beyond our means and have...

Life insurance isn’t just for those married with children, single adults without children can benefit from it, too. When you’re single, healthy, and childless, a life insurance policy is probably the last thing on your mind. You might...

Happy New Year! It’s a new year, a new you, and a new time to do things differently—like your taxes. Tax-filing season is officially here and there are many things you can do to be prepared and organized. Here are a few simple tips...

The New Year marks the opportunity for a new beginning. It’s a time to reflect, refresh, and recommit. A great way to start may be with solid financial resolutions that can help you reach your goals. You can start by making a list, but...

The average age most Americans expect to retire is 66, but there are a number of people settling into their golden years early. Planning for a traditional retirement isn’t always that simple and striving to retire early requires even...

Many of us get so caught up in the holiday madness that we toss our budget aside and fall into what seems to be a never-ending spending cycle. Last year’s report shows about 51% of Americans overspent their budget on holiday gifts and...

As we set our eyes on the new year, it’s an ideal time to sit down and review your financial strategy. Take a few moments to review some of these deadlines and take advantage of the opportunity to grow your wealth and better position...

Retirement Reality Check

Curt Cone Jr.

Thursday, November 14, 2019

It’s a fact that many Americans aren’t saving enough for retirement with 69% only having 10% or less of their income saved.1 Reasons? They’re clouded by many misconceptions that leads them to ignoring the steps needed to secure their...

We all have financial responsibilities that can become a balancing act. Some that are significant to us while others aren’t. With competing financial obligations, there never seems to be enough money to go around and retirement becomes...

Today, Americans 65 and older are more likely to be working than in 1985. More than 20% are working part- or full-time, and the numbers are projected to continue climbing, according to a recent study.1 Reasons for working longer? There...

Every day, thousands of baby boomers are reaching their retirement age. A report revealed the U.S. population age 65 or older has increased by at least 50 million people in the last ten years.1 With the growth of the retirement...

If you’re like most people, you don’t like the thought that you might need long-term care (LTC) at some point in your life. Today, there’s a 70% chance that you’ll be needing some type of LTC service when you turn age 65.1 However, LTC...

Life insurance may seem bewildering at first glance, but it can be very simple. This insurance serves the purpose of lessening the financial burden on the family when a loved one passes away. If you have anyone that relies on you...

Retirement might sound like a far-off dream, but it’ll become reality sooner than you think. You’ve worked hard for it and if planned right, you can enjoy the retirement that you’ve always envisioned. Here are a few tips that can have...

In the past few months, we’ve witnessed a number of natural disasters. With Hurricane Season looming over our coastal areas, being prepared can help you, your family or your business minimize the impact of not just hurricanes, but of...

For many retirees, Social Security is a key component of retirement with 97% either receiving or will receive it.1 It provides a foundation of income on which workers can build to plan their golden years. Though Social Security remains...

Believe it or not–someone turning 65 today has almost a 70% chance of needing some type of long-term care (LTC) service.1 When you think about it, the odds of being in a nursing home are a lot higher than totaling your car or losing...

As parents, we bear the great duty of raising our children to be strong, independent, and better versions of ourselves. This responsibility comes with many financial obligations to balance for the goal of setting them up for success...

Life can be full of surprises and you want to be ready for whatever lies ahead. Through life insurance, you can prepare for the unexpected by providing financial security for your loved ones in the event of your death. An important...

What does it mean to be truly happy in retirement? Is it financial independence, health, adventure, or all of the above? The vision of the ideal retirement is often different from person to person, but the foundation of a happy and...

Many Americans are aware of the tax benefits such as individual retirement accounts, or 401(k) savings plans; but the less-known HSA can provide some major tax relief. Here are three ways:Tax-free contributions. All money you set aside...

A person turning age 65 today has almost a 70% chance of needing some type of long-term care service. It’s considered one of the largest potential expenses in retirement with the average lifetime long-term care expenditure being $138...

Congratulations! You’re finally at the finish line. Your years of hard work are coming to an end and your days of freedom are here. Although a huge weight has been lifted off of your shoulders, there are a few blunders to avoid in...

Marriage is about joining your life completely with someone else’s. It’s not what’s his is hers or what’s hers is his. No one said it’s easy when it comes to having to share your entire life. Studies revealed one of the top issues...

Retirement is the time where we should be able to kick back, relax, and enjoy being free of responsibility. While we’re relieved from the heavy demands of being in the workforce, in retirement, we’re in charge of our own lives and...

There’s a common misconception that estate planning is only for the wealthy. Regardless of your financial situation, an estate plan allows you to have a plan in place after your death. Especially if you have a house, children, and...

The last thing you’d want to think about is your own death. But the fact is–death is inevitable. While it’s a difficult topic to process, it’s a good thing to be prepared and plan ahead for when the time comes. Ask yourself these...

July marks the halfway point of the calendar year and is the perfect time to financially reflect on what’s already passed and what’s to come: Have I saved enough? How much have I spent so far? Where am I in reaching my goals? Is it too...

Over the years, the cost of nursing home and long-term care costs have risen and continues to surge. Studies reveal 69% of retiring Americans will need some sort of long-term care during their life.1 And if there’s a single unsolved...

Among the many challenges of retirement planning is whether you should pay off your mortgage before you retire. Though it’s collective knowledge to be debt-free as much as possible, it may not make sense or be possible for everyone. On...

Running out of money in retirement is a major concern for many Americans. You don’t work hard to just save for retirement and hope for the best. You want security and the stability and annuities can provide just that. Think of a...

Social Security benefits are the bedrock of retirement income for many Americans as they approach the end of their careers. As a vital part of a retirement plan, it’s important to understand what Social Security can mean to you and...

As retirees look ahead to a retirement with uncertainties, they need to have an adequate, dependable, and long-lasting stream of income. With an unpredictable stock market, grim outlook on Social Security and pensions, and a continuous...

When it comes to investment types, annuities are often misunderstood. Annuities can play an important role in your retirement plan because it’s not just about saving, it’s also about generating a steady stream of income so you can...

We can all almost say money is always on our minds…how much do I have in my account? Am I able to afford that? Do I simply enough? Being aware of your financial health is important. Studies reveal Americans could be saving more with...

Many people may think life insurance is just another unnecessary expense without realizing its purpose and benefits. The question to ask yourself is would someone in your life suffer financial hardships if you were to pass away? If the...

It’s never too early nor too late to start thinking about retirement and planning for one. It takes careful planning for your money to last a lifetime. Here are simple action steps you can take today to start preparing for your golden...

Many Americans significantly underestimate the impact that a loved one’s long term care needs could have on their own lives, marriages, work, and not to mention their finances. As a matter of fact, 57% of caregivers surveyed tapped...

Tip: How Much? Check your Social Security earnings and see an estimate of your benefits on the website, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how...