The talk of 2022 has been about the spike in inflation and its trickle-down effect on the financial markets. Considering the recent uptick in inflation, the IRS announced the changes to Social Security, Medicare, Retirement Accounts, and Taxes. Social Security: The Social Security Administration announced the annual Cost of Living adjustment of 8.7%, or an… READ MORE

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022, the Social Security Administration announced today. The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Increased payments to approximately 8 million SSI beneficiaries… READ MORE

On August 14, 2020 we wrote an article titled “Social Security: Can You Count on It?” and discussed the problems facing the Social Security system. At the time that article was written, the Social Security Trust Fund was on pace to run out of money in 2035. On August 31, 2021 Social Security’s trustees issued… READ MORE

Finding the right education savings vehicle can be daunting. There are many choices, and it can be difficult to determine what is best given your financial situation and goals. We have outlined a few features of some of the most common education-savings vehicles, detailing the tax treatment for each, how much you can contribute, who can contribute, and the rules governing distributions. Your unique… READ MORE

Financial Advisor, Investment Advisor, Broker, “guy”. These are all terms that seem to be used interchangeably when talking to clients. While they might all seem to be the same thing, they can in fact be very different in terms of how your advisor is compensated, where their loyalty lies, and the objectiveness of their advice…. READ MORE

Most of us have heard the term ‘compound interest’ before, but do you fully understand how it works and how important it is to start early? Compound interest is when you earn interest on interest. The longer the time period the more ‘compounding’ of your account value (the higher the value). The below chart is… READ MORE

Eight months after the first checks were issued we finally have a proposed bill for the second round of checks. Some of the details surrounding these checks are the same as the last time, but there are some differences. The below article provides a good rundown of the highlights of the bill. https://www.usatoday.com/story/money/2020/12/23/stimulus-checks-who-doesnt-get-stimulus-check-covid-19-relief-package/4013736001/

The year is 2020. We are still in the middle of a global pandemic, and the U.S. Presidential election is less than one week away. To say that there is uncertainty at this time is putting it lightly. The VIX Index, which measures volatility, is currently sitting around 40. The higher the number the more… READ MORE

Presidential nominee Joe Biden’s campaign has proposed many major tax reforms as we near the November 2020 election. Much of this reform targets the legislation enacted by President Trump’s Tax Cuts and Jobs Act (TCJA) of 2017. While these are just proposals for the time being, they provide significant insight into the presidential nominee’s position… READ MORE

The enclosed Forbes article outlines eight retirement expenses that aren’t always front-of-mind as you enter the next phase of your life. Some of these are more obvious than others, but a sound financial plan requires anticipating the unexpected. Make sure that your financial professionals are accounting for these items the next time they put a… READ MORE