Your plan shouldn’t look the same when you’re 55 as it did when you were 35, and part of that is because you have ever-changing goals. So how do you know when it’s time to adjust your financial plan?
Use this checklist to evaluate your goals and decide when it’s time to contact your advisor for an update.
Over the last year, we experienced an economic recovery from an ongoing global pandemic, new and pending legislation that affected taxes and retirement planning, and more.
So as you prepare to file your 2021 taxes, don’t just pack a folder with receipts and important documents. Consider these changes, and look to take advantage of tax opportunities.
Philanthropist and oil tycoon John D. Rockefeller famously said: “Think of giving not only as a duty, but a privilege.”
If you are of the same charitable mindset as John Rockefeller, you might consider a donor-advised fund (DAF).
A donor-advised fund (DAF) is a tool to which you make an irrevocable, tax-deductible contribution, which is then donated to some of your favorite charities. You work with a sponsor (a 501(c)(3) non-profit), which manages the account.
This worksheet will help you figure out whether a DAF can play a role in your giving strategies and offers tips to keep in mind when using a DAF.
IRMAA, or the income-related monthly adjustment amount, is an extra amount you have to (or will have to) pay on top of your Medicare Part B and Part D premiums based on your income. Now that you know what IRMAA is, it’s never too early to start thinking about when you’ll eventually have to pay this amount. This worksheet will help you identify some IRMAA planning points, and also point out some common IRMAA planning mistakes to steer clear of.
Did you know you can utilize a health savings account (HSA) to invest for your future? HSAs have many tax benefits, including tad-deductible contributions and tax-deferred growth. But is one right for you? This worksheet will help you determine if you qualify, as well as identify common mistakes consumers make with HSAs that you can avoid.
Did you know your Social Security benefits can be taxed? That’s right – up to 85% of your Social Security benefits, money that you put away over your entire career, could be subject to taxation when you receive the benefits in retirement. Our worksheet helps you figure out if you owe, and how much of your benefit could be taxed. Inform yourself, and plan accordingly. Fill out the form below to download the worksheet:
The business succession process isn’t a “rainy day” task. It’s a living process that you should start as soon as possible. You’ve probably given it some thought and almost figured out how you want to transition your business, but an “almost” succession plan is no plan at all. Fill in the form below to download the checklist:
No matter how few your assets or how extensive your properties, an estate plan will help you preserve your legacy and provide clarity to your surviving family. Our estate planning checklist can help you start the process and tick those important boxes on your way to confidence about the future.
Fill in the form below to download the checklist:
We put together a fact sheet “What You Need to Know About Insurance” to help you determine if you have the right insurance coverage for your and your family’s needs. We’ll look at life insurance, homeowner’s insurance, medical insurance and more to help answer your questions:
- What is it?
- Who does it benefit?
- How much does it cost?
- How does it work with your financial plan?
Fill out the form below to download “What You Need to Know About Insurance.”
The days of getting a summer job to put yourself through college are long gone. An education costs more than ever – but it still pays to have one. Our downloadable guide acts as a checklist that explains how you can help them prepare for this passage into adulthood. We’ll look at financial goals and insights for:
- Birth to 1st grade
- Elementary Years through Early High School
- Junior and Senior Year of High School
- College and Beyond!
Fill out the form below to download your copy: