Blog

Types of Life Insurance Policies

August 21, 2019 - You know that you need life insurance. However, with the wide variety of insurance policies available, you may find choosing the right one difficult. It's really not as confusing as it seems, however, once you understand the basic types of life insurance policies...
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Life Insurance at Various Life Stages

August 14, 2019 - Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities once again begin to diminish, your need for life insurance may decrease. Let's look at how your life insurance needs change throughout your lifetime...
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Life Insurance Basics

August 7, 2019 - Life insurance is an agreement between you (the policy owner) and an insurer. Under the terms of a life insurance policy, the insurer promises to pay a certain sum to a person you choose (your beneficiary) upon your death, in exchange for your premium payments. Proper life insurance coverage should provide you with peace of mind, since you know that those you care about will be financially protected after you die...
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Quarterly Economic Update - 2nd Quarter 2019

August 5, 2019 - The first half of 2019 brought very strong results for financial markets. Both equity and bond investors saw positive results leaving investors in a happy mood. The Dow Jones Industrial Average (DJIA) enjoyed its largest June gain since 1938 and the S&P 500 experienced its best first half in two decades...
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Transferring Your Family Business

July 31, 2019 - As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the business or keep it until you die.
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Advantages and Disadvantages of Self-Employment

July 24, 2019 - You've grown tired of commuting to a job where you sit in a cubicle and do someone else's bidding. You've got a better idea, you can build a better mousetrap, you know you have the knack for being in the right place at the right time, and so you're thinking of self-employment. But how do you determine if this is a pipe dream or an idea worth pursuing?
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Funding a Buy-Sell Agreement with Life Insurance

July 17, 2019 - As a partner or co-owner (private shareholder) of a business, you've spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth sale of your business interest and are looking into funding methods. One of the first methods you should consider is life insurance...
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Funding a Buy-Sell Agreement with Disability Insurance

July 10, 2019 - You may have a great buy-sell agreement in place at the company where you are a partner or co-owner--one that clearly stipulates how much your family will be paid for your share of the business interest in the event of your death. It may also cover early retirement and the buyout terms under those circumstances. But what if you become disabled long before you are likely to die or retire?
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Starting or Buying a Business

July 3, 2019 - So, you're thinking of going into business for yourself. You have several options available, and all involve some degree of risk. Do you want to create a start-up operation? Perhaps you are planning on buying an existing business. Or, you may be considering the purchase of a franchise operation. Each option involves some element of risk and reward. Whichever option you choose, however, owning your own business offers a chance at more freedom and greater financial rewards.
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Establishing a Budget

June 26, 2019 - Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals.
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Getting Started: Establishing a Financial Safety Net

June 19, 2019 - In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you meet emergency or highly urgent short-term needs.
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Investing for Major Financial Goals

June 12, 2019 - 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 investing without setting clear-cut goals is like. If you're lucky, you may end up with enough money to meet your needs, but you have no way to know for sure.
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Investment Planning: The Basics

June 5, 2019 - Why do so many people never obtain the financial independence that they desire? Often it's because they just don't take that first step — getting started. Besides procrastination, other excuses people make are that investing is too risky, too complicated, too time consuming, and only for the rich...
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Choosing a 529 Savings Plan

May 29, 2019 - With so many 529 savings plans to choose from, it's important to ask a lot of questions in order to select the best plan for you...
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Teaching Your College-Age Child about Money

May 22, 2019 - When your child first started school, you doled out the change for milk and a snack on a daily basis. But now that your kindergartner has grown up, it's time for you to make sure that your child has enough financial knowledge to manage money at college...
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The ABCs of 529 Plans

May 15, 2019 - 529 plans are tax-advantaged education savings vehicles and one of the most popular ways to save for education today. Much like the way 401(k) plans revolutionized the world of retirement savings a few decades ago, 529 plans have changed the world of education savings...
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529 Plans: The Ins and Outs of Contributions and Withdrawals

May 8, 2019 - 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 withdrawals...
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Income Tax Planning and 529 Plans

May 1, 2019 - The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also offer tax breaks to their residents. It's important to evaluate the federal and state tax consequences of plan withdrawals and contributions before you invest in a 529 plan.
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Quarterly Economic Update - 1st Quarter 2019

April 26, 2019 - During the first three months of 2019, investors had a lot to cheer about as U.S. equity markets turned in their best quarterly gains in nearly a decade. This helped many of the major indexes to recoup a good portion of the losses that they suffered in the final months of 2018...
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Estate Planning and 529 Plans

April 24, 2019 - When you contribute to a 529 plan, you'll not only help your child, grandchild, or other loved one pay for school, but you'll also remove money from your taxable estate. This will help you minimize your tax liability and preserve more of your estate for your loved ones after you die. So, if you're thinking about contributing money to a 529 plan, it pays to understand the gift and estate tax rules...
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Estate Planning - An Introduction

April 17, 2019 - By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, life stage, goals, and many other factors determine your particular estate planning needs...
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How Grandparents Can Help Grandchildren with College Costs

April 10, 2019 - As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers become grandparents and start gifting what's predicted to be trillions of dollars over the coming decades. Helping to pay for a grandchild's college education can bring personal satisfaction and is a smart way for grandparents to pass on wealth without having to pay gift and estate taxes. So what are ways to accomplish this goal?
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Business Succession Planning

April 3, 2019 - When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party? The key is to pick the best plan for your circumstances and objectives, and to seek help from financial and legal advisors to carry out this plan...
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Group Disability Insurance

March 27, 2019 - If a disabling illness or injury were to prevent you from working for weeks, months, or even years, how would you support yourself and your family? If disability strikes, you may discover that your most valuable asset isn't your home or your savings--it's your ability to earn a living. Fortunately, group disability insurance can help protect you...
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Health Savings Accounts: Are They Just What the Doctor Ordered?

March 20, 2019 - Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over how you spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance called a health savings account (HSA)...
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Changing Jobs? Know Your 401(k) Options

March 13, 2019 - If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options...
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The Retirement Income Gender Gap: Dealing with a Shortfall

March 6, 2019 - When you determine your retirement income needs, you make your projections based on the type of lifestyle you plan to have and the desired timing of your retirement. However, you may find that reality is not in sync with your projections, and it looks like your retirement income will be insufficient to meet your estimated expenses during retirement. This is called a projected income shortfall...
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The Tax Benefits of Your Retirement Savings Plan

February 27, 2019 - Taxes can take a big bite out of your total investment returns, so it's encouraging to know that your employer-sponsored retirement savings plan may offer a variety of tax benefits. Depending on the type of plan your employer offers, you may be able to benefit from current tax savings; tax deferral on any investment returns you earn on the road to retirement; and possibly even tax-free income in retirement...
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Risk Management and Your Retirement Savings Plan

February 20, 2019 - By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to participate is just one step in your financial risk management strategy. You also need to manage risk within your account to help it stay on track...
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Staying on Track with Your Retirement Investments

February 13, 2019 - Investing for your retirement isn't about getting rich quick. More often, it's about having a game plan that you can live with over a long time.Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, there are ways to help yourself build your retirement nest egg...
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The Roth 403(b)

February 6, 2019 - Some employers offer 403(b) plan participants the opportunity to make Roth 403(b) contributions. If you're lucky enough to work for an employer that offers this option, Roth contributions could play an important role in maximizing your retirement income...
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The Roth 401(k)

January 30, 2019 - What is a Roth 401(k)? A Roth 401(k) is simply a traditional 401(k) plan that accepts Roth 401(k) contributions. Roth 401(k) contributions are made on an after-tax basis, just like Roth IRA contributions. This means there's no up-front tax benefit, but if certain conditions are met, your Roth 401(k) contributions and all accumulated investment earnings on those contributions are free from federal income tax when distributed from the plan...
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403 (b) Plans

January 23, 2019 - A 403(b) plan is an employer-sponsored retirement plan for certain employees of public schools, tax-exempt (501(c)(3)) organizations, and churches. The employer can purchase annuity contracts for eligible employees, or establish custodial accounts to be invested in mutual funds or other investments...
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401(k) Plans

January 16, 2019 - How does a 401(k) plan work? With a 401(k) plan, you elect either to receive cash payments from your employer immediately, or defer receipt of a portion of that income to the plan...
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Welcome to 2019 Client Checklist!

January 11, 2019 - Welcome to 2019! We hope that you and your family had an enjoyable holiday season. Each New Year symbolically offers the opportunity to make a fresh start for everyone. As always, our primary goal this year is to continue our tradition of helping clients achieve their personal financial goals. To make that process more efficient, please review the 2019 CHECKLIST in this article and identify any of the items you anticipate you’ll need addressed this year...
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Decisions, Decisions: Choosing Among Retirement Plan Contribution Types

January 9, 2019 - If your employer-sponsored 401(k) or 403(b) plan offers pre-tax, Roth, and/or non-Roth after-tax contributions, which should you choose? How do you know which one might be appropriate for your needs? Start by understanding the features of each...
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Have You Checked Your Retirement Plan Lately?

January 2, 2019 - It's generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur. If you haven't given your plan a thorough review within the last 12 months, now may be a good time to do so...
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Happy New Year!

January 1, 2019 - A special message from all of us at Wealth Management Group, LLC:
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Saving for College

December 26, 2018 - There's no denying the benefits of a college education: the ability to compete in today's job market, increased earning power, and expanded horizons. But these advantages come at a price. And yet, year after year, thousands of students graduate from college. So, how do they do it?
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Happy Holidays!

December 21, 2018 - A special message from all of us at Wealth Management Group, LLC:
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The Joys and Financial Challenges of Parenthood

December 19, 2018 - Parenthood can be both wonderfully rewarding and frighteningly challenging. You raise your children with a clear goal that you secretly dread will actually take place- that someday they will be grown, independent, and ready to move out on their own, and your work will be over. As your children travel this long and never-dull road from infancy to adulthood, you try to protect them. You want to make sure that they are financially secure, but meeting expenses can be challenging.
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Helpful Information About the Recent Market Volatility

December 14, 2018 - For nearly 10 years now, the stock market has been practically unstoppable. Both the 122-year-old Dow Jones Industrial Average and the S&P 500 had quadrupled earlier this year from their March 2009 lows. Many investors who've held throughout a couple of interruptions since then have been handsomely rewarded. For a variety of reasons, October started the return of heavy short-term market turbulence and volatility...
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Protecting Your Loved Ones with Life Insurance

December 12, 2018 - Your life insurance needs will depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. However, as you take on more responsibilities and your family grows, your need for life insurance increases...
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Leaving a Legacy

December 5, 2018 - You've worked hard over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that are important to you. But to ensure that your legacy reaches your heirs as you intend, you must make the proper arrangements now. There are four basic ways to leave a legacy...
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Trust Basics

November 28, 2018 - Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn't hard...
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Happy Thanksgiving!

November 22, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Long Term Care

November 21, 2018 - Five Questions and Answers about Long-Term Care
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Year-end Tax Moves for 2018

November 20, 2018 - One of our main goals as holistic financial advisors is to help our clients recognize tax reduction opportunities within their investment portfolios and overall financial planning strategies. Staying current on the ever-changing tax environment is a key component...
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Maintaining Your Financial Records

November 15, 2018 - An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document--and you'll need to locate it relatively quickly. By taking the time to clear out and organize your financial records, you'll be able to find what you need exactly when you need it...
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With Gratitude on Veteran's Day

November 11, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Deciding When to Retire

November 7, 2018 - Deciding when to retire may not be one decision but a series of decisions and calculations. You'll need to estimate not only your anticipated expenses, but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings. Each of these fa
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Saving for Retirement

October 31, 2018 - Although most of us recognize the importance of sound retirement planning, few of us embrace the nitty-gritty work involved. With thousands of investment possibilities, complex rules governing retirement plans, and the unpredictable future of consumer prices, most people don't even know where to begin. Here are some suggestions to help you get started...
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October Volatility

October 29, 2018 - With the recent movements in equity markets, we thought it best we communicate with you again. October 2018 has started as one of the worst months in nearly a decade and it came without warning...
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Charitable Giving

October 24, 2018 - Charitable giving can play an important role in many estate plans.There are many ways to give to charity including...
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Medicare Open Enrollment Update

October 23, 2018 - With Medicare open enrollment upon us, we strongly encourage each of our clients to review the updates in the article below and consider reviewing their plan with a local independent agent...
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Quarterly Economic Update - Third Quarter 2018

October 18, 2018 - For the third quarter of 2018, the bull market seemed unstoppable. Regardless of the quarter’s concerning short-term events, investors quickly looked beyond those risks and pushed stock prices higher...
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The New Estate Tax Rules and Your Estate Plan

October 17, 2018 - The third week in October has been designated as National Estate Planning Awareness Week. Estate planning is a vital component of every financial plan, regardless of the size of the estate. Unfortunately, it's also an area that is commonly overlooked. This often results in wasted dollars and emotional hardship that could otherwise be minimized with proper advance planning and action...
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Financial Planning: Helping You See the Big Picture

October 9, 2018 - A comprehensive financial plan serves as a framework for organizing the pieces of your financial picture. With a financial plan in place, you'll be better able to focus on your goals and understand what it will take to reach them.
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How to Protect Yourself Against Identity Theft

October 4, 2018 - Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world. Now more than ever, it's important to safeguard yourself against identity theft. Here are some steps you can take to protect your personal and financial information.
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IRS 1040 Draft

September 5, 2018 - In 2017, Congress passed the largest piece of tax reform legislation in over three decades. To conform to the changes that need to be implemented due to this new Tax Cuts and Jobs Act, the IRS released over 50 drafts or revised forms and schedules on its website in June. The most anticipated one was the 1040, U.S. Individual Income Tax Return form. As promised, the “postcard” size was achieved...
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Happy Labor Day

September 3, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Quarterly Economic Update - Second Quarter 2018

July 24, 2018 - The second quarter of 2018 contained ups, downs and tariffs. Equity prices were very volatile as investors seemed to back off of many industrial heavyweights, while favoring large technology companies...
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Happy 4th of July!

July 4, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Memorial Day

May 28, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Quarterly Economic Update - First Quarter 2018

April 12, 2018 - After a blockbuster start to 2018, equity markets have been caught in a vicious circle of trading over the quarter’s last two months, with volatility and uncertainty taking center stage...
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Happy St. Patrick's Day!

March 17, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Filing 2017 Income Taxes and 2018 Tax Planning Strategies

March 2, 2018 - Tax planning should always be an essential focus when reviewing your personal financial situation. One of our goals as financial professionals is to attempt to point out as many tax savings opportunities and strategies as possible...
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Quarterly Economic Update - Fourth Quarter 2017

February 1, 2018 - As we enter the new year, our team is looking to continue our tradition of helping clients achieve their personal financial goals. In addition to providing comprehensive investment direction and advice, we will be offering quarterly economic updates to help keep you current on the many issues that may affect you and your family. With that in mind, we are excited to provide our fourth quarter economic update...
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Welcome to 2018 Client Checklist!

January 22, 2018 - Welcome to 2018! We hope that you and your family had an enjoyable holiday season. Each New Year symbolically offers the opportunity to make a fresh start for everyone. As always, our primary goal this year is to continue our tradition of helping clients achieve their personal financial goals. To make that process more efficient, please review the 2018 CHECKLIST in this article and identify any of the items you anticipate you’ll need addressed this year...
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Happy New Year!

January 1, 2018 - A special message from all of us at Wealth Management Group, LLC:
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Check the background of this financial professional on FINRA's BrokerCheck