We are well into the year of Financial Planning and working with clients to gather the information needed to have a more complete, and therefore more accurate, financial plan. One area where clients generally struggle is in determining the amount they spend each month. For many clients we’ve met this year, the answer is I …
Financial Planning
What’s Changing for 2025?
What’s Changing in 2025? Social Security: Cost-of-Living Adjustment (COLA) for 2025 will be 2.5%. Retirement Accounts: Contribution limits for 401(k)s, 403(b)s, 457 plans, and the federal government’s Thrift Savings Plan have increased to $23,500 for 2025. The catch-up contribution for those aged 50 and above remains $7,500. Starting in 2025, under the SECURE Act 2.0, …
Inherited IRA RMD
IRA assets cannot be left in an IRA forever. You know that – as many of our retired clients take an annual Required Minimum Distribution (RMD). Where it gets complicated, especially with recent SECURE Act guidance, is when you inherit an IRA. Not only do we help clients navigate these complex rules, we do it …
Critical Conversations for Engaged/Committed Couples
As we enter the summer season, a time when many couples are planning weddings and commitment ceremonies, we present Couples’ Crucial Talks—a thoughtfully designed checklist to foster meaningful conversations. While tailored for those preparing for marriage or long-term commitment, these discussion points are equally valuable for couples at any stage of their relationship. We encourage …
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What is your Financial Literacy?
In March, we held International Women’s Day with a focus on helping women become more educated and comfortable talking about several aspects of wealth planning. As a result, we were pleased to see that we hit on several of the topics covered in this financial literacy assessment. Take a few minutes to go through the …
To Trustee or Not to Trustee
Boy, oh boy, the roles and responsibilities of a trustee are extensive. It is not the type of job you want to go into with blinders on. This article is intended to provide information about this particularly important role and some alternatives if it turns out not to be for you. In addition, if you …
IWD Celebration
On March 8th, we had the opportunity to celebrate International Women’s Day, (IWD) with several women clients, friends, and community members. This annual IWD event is celebrated by women all around the world. We have slightly different goals for our celebration each year, with the following as this year’s focus: Meet new women in the …
Excess 529 Money?
It may or may not be a problem you would like to have, but for the first time, we have a potential solution for you. As always, there are rules, so not all situations will work. That said, there is a new option to roll over unused 529 money to a Roth IRA. A few …
Financial and Personal Wellness
Whether you’re someone who diligently sets and follows your New Years’ Resolutions (apparently those types of people do exist) or are looking to play a little catch-up before the holiday hustle, here are some tips on your financial and personal wellness on a high note: Declutter your Mental and Physical Space With the season of …
Roth vs. Traditional Contributions
Roth vs. Traditional Contributions For those actively working, there are many benefits and other financial decisions to make each year. One key decision is associated with your employer savings plan. Many of us hear the term Roth and aren’t quite sure what it means. It is a type of contribution that you can make to …