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Nearly 56 million American adults are 65 or older, and the demand for community living and estate planning services may increase over the next few decades.1 Do you know what arrangements you need to make when the time comes? What are...

During vacation, the only things you should be focused on are how late you can sleep in, which brunch place has the fluffiest French toast, or how many European cities you can explore in a week. This is why you should formulate a plan...

Even if you are already retired, it doesn't mean you should stop trying to grow your savings. Inflation, unexpected medical bills, and changes to your lifestyle or family may result in the need for additional income than you initially...

Do you consider yourself a high-net-worth individual (HNWI)? Most people tend not to categorize themselves or see themselves as anything more than a spouse, parent, sibling, neighbor, boss, or business owner. However, society does...

Many people care for a loved one out of necessity as their family members can no longer care for themselves. More than one in ten people in the United States also care for an adult, spending about three hours each day on caregiving...

For those who don't have a 401(k) option through their employer—which includes some small-business owners—how to save for retirement might be challenging. In a competitive employment market, offering retirement options to...

Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical...

Right now is a great time to assess your insurance coverage. Insurance is a means of protecting your assets against premature liquidation. When a loss occurs, the assets you've worked hard to attain face liquidation if your insurance...

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

The importance of retirement savings has been gaining traction among younger workers, with Generation Z and Millennials taking a proactive approach to secure their financial futures. According to new research from Vanguard, younger...

In 1938, Harvard researchers began a groundbreaking study to answer a timeless question: What makes us happy in life? Over the decades, the study has followed 724 people from diverse backgrounds, collecting health records and asking...

Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them...

529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to...

Once you are in your 60s, you are likely to focus less on growing your retirement funds than answering, "When do I retire?" And once you crack open your nest egg, how should you allocate its contents? The answer often lies in...

Retirement is a significant milestone in one's life, which requires careful planning and foresight to pursue a confident and stress-free transition. One effective way to plan for retirement is by adopting the Retirement Bucket Strategy.

Are you feeling exhausted? Burnt out? When you feel that you are mentally done and have little to look forward to in life, odds are your mental health bank is dangerously low. Your mental health bank functions in a similar way...

The SECURE 2.0 legislation included in the $1.7 trillion appropriations bill passed late last year builds on changes established by the original Setting Every Community Up for Retirement Enhancement Act (SECURE 1.0) enacted in 2019.

When helping people get ready for retirement, financial professionals find the same issues come up over and over. Thinking ahead can spell the difference between a retirement with enough money and a stressful one with difficult decisions...

Planning for retirement is exciting, but it may come with a bit of stress. If you worked hard all your life, now might be the time to relax and enjoy the fruits of your labor. One of the things that you may need to consider is when it is...

Generation Z, the youngest working generation, is commonly thought of as being consumed with the present and uninterested in the future. However, recent research has shown that this stereotype may not be accurate, as many Gen Z individuals

With April’s federal tax filing and payment deadline on the horizon, Americans are dotting their i’s and crossing their t’s as they prepare for the countdown to Tax Day. But before you rush to get that return out the door, are you confident

Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged accounts...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much SS tax you pay, depending on your circumstances, include:

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...

Looking for ways to save "I love you" on Valentine's Day? Then you may want to consider opening a spousal individual retirement account (IRA). This gift says, "Let's grow old together comfortably," and shows your partner that you care...

It’s easy to carry the stress of home to work, and work to home. Doing so will most likely inhibit your time to relax with friends, family, and your productivity in the work place. Budget your time accordingly for each aspect of...

When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft — and it’s also the most common...

Getting married is a joyous time, but one that comes with numerous considerations. From living arrangements to future goals, marriage may quickly change a lot of things in your life. One thing that may drastically change after your...

When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting,...

As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth....

Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to...

Saving for retirement just got a little bit easier. Congress approved big changes that can help 401(k) and IRA savers put a little more money away for their futures.

The basic strategy for year-end planning is both to time your income so that it will be taxed at a lower rate, and to time your deductible expenses so that they may be claimed in years when you are in a higher tax bracket. Here are some Yea

Whether you're hoping to retire soon or are just beginning to explore the idea of stepping back from your job, you're probably wondering how to make it happen. Will you have enough money? How will you spend your time? What will you do for h

There are several ways to pass wealth between generations that may provide tax advantages to help preserve it for the younger generations, as opposed to watching it disappear due to a tax consequence. Here are three options that you may...

The end of the year is a good time to look back on the events that shaped the last 12 months and prepare for what may lie ahead. our year-end checklist can help you prepare to hit the ground running in 2023.

Because taxes lower the actual return on your investments, you should be interested in legitimate ways to minimize taxes on your investment portfolio. Several approaches and strategies exist, including the following.

While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS.

Pension plans are still offered at many types of employers today. A pension plan is an employer-sponsored retirement savings plan the employer contributes toward to fund their employees' future retirement.There are two types of pension...

Black Friday and Cyber Monday are two of the greatest days to score deals for holiday shopping. Unfortunately, with amazing deals plentiful, some scammers use these days to take advantage of shoppers looking for the greatest bargains...

As we approach the last quarter of each year, it is a good time to plan for the next one. Year-end planning is especially important for existing retirees and those hoping to retire in the next few years. There are tax and income...

The vast majority of Americans need long-term care. According to the U.S. Department of Health and Human Services, 70% of people over age 65 may need some long-term care during their lives.1 Unfortunately, planning for long-term care...

Good health means you can both pursue wealth and enjoy it. Too many people don’t realize that taking care of themselves physically can lead to more confident financial tomorrows. Planning for retirement should start in your early...

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...

A solid estate plan should not only provide for your assets after you pass, but also plan for your long-term care while you're alive. With the median cost of a long-term care facility approaching $8,000 per month, paying for long-term...

Many Americans realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether. With all the information available about retirement, it is sometimes difficult to decipher what...

When it comes to planning for retirement, it's easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements...

With the average price for private college tuition and fees hitting $43,750 for the 2021-2022 school year and public college attendees paying more than $28,000 per year, many parents are nervously anticipating what will happen after...

Retirement is an exciting time. You have worked hard all of your life and now get to take advantage of the fruits of that hard labor. Taking care of your mental and physical health during retirement is crucial. Here is why!

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare, which...

Matching your tolerance for risk with your investment objectivesEveryone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like...

Why did you purchase life insurance? If you're like most people who buy life insurance, you're looking to provide a source of income for someone (e.g., a spouse, parent, or child) after you die. Buying the policy was the first step....

More women are working and taking charge of their own retirement planning than ever before. What does retirement mean to you? Do you dream of traveling? Pursuing a hobby? Volunteering your time, or starting a new career or business?...

You may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free retirement is not the reality for some. Challenges from stock...

Why Not A Yearly Retirement List?Labor Day is right around the corner. The weather is starting to turn a little cooler, college football returns and the kids are back in school. For me, it’s always been the kids going back to...

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...

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. You wouldn't expect to be able to play the piano without learning the basics and...

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.When you hit a certain age of your life, you may...

For members of the "Sandwich Generation"—those currently in their 40s and 50s who are caring for children and their parents who are over 65-years old—estate planning may seem like a low priority. After all, when you're...

Social isolation makes people more susceptible to illness and death.1 While retirement is a time for relaxation and enjoyment from a lifetime of work, it may lead to a lack of purpose if you have depended on work for social activities...

Working towards financial independence can often be a lifelong process. But for many, financial freedom may come far sooner—and include some fun along the way. What are the differences between financial independence and financial...

Your retirement planning needs to incorporate more than just investmentYour open heart and your relatives can combine to threaten your retirement savings – savings you soon may need. Learn the true cost to your future before you...

Summer is here, and it could be time to hit the road on a new adventure. If you’re on a tight budget, you don’t have to give up your summer vacation dreams. Here are a few tips you may be able to use to create the perfect...

Did you know that you can gift a new or existing life insurance policy to your favorite charity? When properly designed, a charitable life insurance program may improve your overall financial situation and offer tax benefits, all while...

If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to...

Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them...

Although you don't have to wait until January to begin working on your financial goals, a new year may bring a much-needed fresh start on your spending and saving goals. Read on for three financial moves you may want to consider before...

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

For some, it’s easy to put personal finances on the back burner during the last few months of the year. However, before the year comes to an end, it’s essential to review your finances. By doing so now, you can make the...

For some, 2021 has flown by—and as we approach the last quarter of the year, it's a good time to begin planning for the next one. Year-end planning is especially important for retirees and those hoping to retire in 2021 or 2022....

Reviewing your benefit choices will maximize your employment benefits Open enrollment for employee benefits kicks off this month. While you plan your Thanksgiving menu, review your benefit choices. Even if little changed in your life...

Many of us grew up in a world where it was customary to be friendly, courteous, and trusting. Unfortunately, assumptions concerning these standards of conduct can sometimes get us into trouble. Con artists offering a variety of...

Over the next 50 years, the age 85 and older population is expected to be the fastest growing segment of society. Unfortunately, along with aging, the chances of needing long-term care (LTC) increase. The primary reason for this is...

Planning personal finances used to be the worry of the wealthy and their worry—usually preservation of wealth—was attended to by teams of trust officers and lawyers. Many of today’s middle class families have...

If your 65th birthday is coming up—or if you're receiving Social Security Disability payments and are about to qualify for Medicare before age 65—you may be wondering exactly what comes next.1 Below, we discuss some...

Whatever your age, it’s never too soon to look ahead and begin giving thought to your retirement. With proper planning, you can make the transition to retirement a smooth, comfortable and confident ride. Today, more than ever,...

Talking about long term care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status, cognitive...

As your life changes, your financial needs often change, as well. Regardless of whether you are just starting out in life, are in mid-career, or are at the peak of your earning years, life insurance can help you achieve a variety of...

When was the last time you took steps to optimize your 401k? If it's been a while, you're not alone. Research indicates that only one in three Americans utilize employer-sponsored 401k retirement accounts; even those who are...

A Primer Although we all know that “time flies,” it seems to move particularly fast as we watch our children grow. Yet, in considering a college future for a newborn, it is understandable that parents might procrastinate,...

Suppose, during the middle of the workday, you receive an urgent phone call. It is the local hospital informing you that your elderly, widowed father has been the victim of a serious car accident and lies unconscious in the emergency...

As the summer draws to a close and the first chilly winds of autumn blow through, it’s time to think through the way you’ll clean up, fix up, and maintain your home for fall. By keeping up with your home’s maintenance...

Tax free sales present an opportunity for residents of 17 (mostly Southern) states to purchase clothes, shoes, electronics, and even firearms or ammunition without paying a penny in sales tax.1 But because these sale dates usually only...

As the saying goes, "50 is the new 40"—and with Americans living longer than ever before, it's not unusual for those in their 50s, 60s, or even 70s to be in their peak earning years.1 But for those who would prefer the option of...

Charitable giving is a way for affluent individuals spread their money around and to benefit causes that are near and dear to their hearts. Yet, for those who fall into the high net worth category, it is critical to structure...

The student loan landscape has changed dramatically since the beginning of the COVID-19 pandemic. From the suspension of interest payments on federal student loans to tax incentives for employers who pay their employees' student loans,...

Though U.S. taxpayers received an extra month to file and pay their federal income taxes in 2021, some are still smarting from having to write a check to the IRS.[1] For many, it can be tough to make the connection between those...

For many people, turning 65 provides one of the keys to retirement: access to affordable healthcare. Whether you're enrolling in the Medicare program for the first time or have been a Medicare enrollee for years, it's important to stay...

Many people associate the term "financial wellness" with things like saving for retirement, paying down high-interest debt, or creating an emergency fund. But when you're living with a disability (or caring for a loved one who is...

If 2020 made you fantasize about a trip as soon as travel restrictions were lifted—and you’re still waiting—you aren’t alone. Although 2021 was poised to be a comeback year, it is shaping up to be another summer...

As temperatures start to heat up and the days get longer, summer fun can kick into gear. Looking for things to do this summer? Then, check out this list of fun and relaxing summertime ideas. Be a tourist in your own area You don't have...

Graduation is an exciting time for many. But now repaying student loans will start for the new graduates. While some lenders give you a sixth month grace period before you start to repay, starting to pay your loads right away save you...

529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be familiar with all of your options. Mutual funds Mutual funds are an option to...

Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs...

Your financial professional can help you navigate the ever-changing IRS rules.... Taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions made to their Individual Retirement Account made...

Small business owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise....

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial...

When you invest funds, you are preparing for your retirement and your future. But at the same time, you may also want to consider the impact your money has on the world. Ethical investment strategies seek to balance these two concepts....

Five common retirement planning misperceptions and how to avoid... Many of us remember the phrase “too big to fail” from the 2008 financial crisis and cringe now that its use has been resurrected during the coronavirus...

But ask yourself whether there is any real benefit to waiting to file your taxes... The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes until May 17, giving individuals and businesses another...

Remember, it is never too early to start planning for your future... The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to...

Financial feats that were once unheard of—from investing in cryptocurrency to instantly paying someone through an online payment system—have now become commonplace in many parts of the country. But these sophisticated tasks...

As temperatures warm up, trees begin budding, and the days get longer, you probably throw open your windows and think about spring cleaning your home. As you tackle washing windows, cleaning carpets, and sorting out the garage,...

If you're like many Americans, you may have a few dents and dings on your credit report. As of 2020, around one in five adults has either a "fair" or "poor" credit score, which can impact their ability to qualify for a loan, rent an...

In 2020, the average FICO score in the U.S. rose to 711, an eight-point increase from 2019.1 When it comes to having healthy credit, your score is the result of many factors. But what specifically goes into someone's credit report, and...

You’re an entrepreneur and you’re not looking back. You’ve opened your own business, whether alone or with other partners, and you’ve found some success. You’ve hired employees, or not, depending on your...

Women play a central role in establishing and preserving family wealth - whether nurturing the values of children, fulfilling charitable goals, or making investment decisions that affect the financial security of themselves or their...

On Saint Patrick’s Day, towns hold festive parades, people head to restaurants to dine on Irish fare, children pinch each other if they don’t wear green, and everything from beers to milkshakes turn the color of shamrocks....

Have you received a letter notifying your business that the 2021 Annual Report Instruction Form for Connecticut is due? Notice the filing fee is significantly higher than last year? On November 17, 2020, state officials cautioned...

As the COVID-19 pandemic enters its second year, President Joe Biden has begun to outline details of the "American Rescue Plan," a $1.9 trillion relief plan designed to help stem the coronavirus pandemic while giving the U.S. economy a...

Marriage affects your finances in many ways, including your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. Here are some considerations to keep in mind: Building...

LPL Research Outlook 2021: Powering Forward is designed to help you navigate a year in which economic conditions may continue to improve dramatically. Like the markets, Outlook 2021 looks ahead. 2021 will bring advances to further...

After months of intense debate, the House and Senate voted to pass a second COVID-19 economic stimulus bill and the President has signed it into law.1 At a total cost of $900 billion, this 5,600-page bill1 contains everything from...

Tax identity theft is when someone steals your Social Security Number, files a tax return with your number, and directs a refund to their own bank account. In other cases, this type of identity theft may involve a scam artist calling...

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances...

From pandemic-related stimulus payments to job losses and furloughs, for many taxpayers, next spring's tax season may be more complex than usual. With the end of 2020 rapidly approaching, you should take some time to review your tax...

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines — don't change much, if at all. And with the uncertainty surrounding just about everything...

With the year rapidly coming to a close, and the upcoming tax year looming with uncertainties, you should consider updating your tax strategy to best preserve your assets into the future. Don't wait until the end of the tax year to...

Shopping for holiday gifts is stressful but also a little fun, especially when you think about the joy you will bring to those who receive them. But in all the rush to get everything done in time, it is easy to forget smart shopping...