Money & Finance

Getting married? When planning a legal union, it pays for couples to consider the financial aspects of marriage just as deeply as they do romance.

If you have spent more time shopping for a dress or tux than talking about shared finances, make time now for this discussion. Otherwise, the twists and turns in the financial road ahead may come as a surprise.

A cyber-attack can appear in a variety of different ways. It is hard to stay ahead of the “bad guys,” who seem to be able to work around any security measure put in place. It is a good idea to pause for a few seconds, gather your thoughts, and be cautious about anyone that requests personal information from you, no matter what communication method they choose.

Below are several methods being used to try and gain access to your private information.

Nothing causes the heart rate to spike like finding out you’ve overdrawn your bank account.  Or having your car quit working when you know you have nothing left in your savings account with which to repair or replace it.

Events like these can cause anxiety and stress, which can negatively impact physical and mental health.

When you die, will your family be in turmoil? Will there be arguments, resentment, and doubt, or will there be a sad-but-smooth transition, with your values known and your wishes honored? Will family members support each other, or will your passing break the family apart? The emotional impact for those left behind when you die goes way beyond the estate planning, legal issues, and tax implications your death may create.

Estate planning documents generally include a will, a trust (revocable or irrevocable), powers of attorney for property (durable power of attorney) and personal care (advance health care directive).  You name a person or people to make decisions for you when you are unable to and given direction on how to settle your affairs after you die.

Are you saving for retirement? For education? If so, you’ll want to know how inflation can impact your savings. Inflation rates have fluctuated over the years; short-term changes aren’t often noticed. The real issue is the effect of long-term inflation.

I really don’t like change! My parents used to tell me, “Nothing is as constant as change.” I didn’t understand exactly what that meant as a child, but now I experience a change in one form or another almost daily. My clients often discuss changes in such things as their current job, a promotion or new work benefit, a new business opportunity, adjusting their savings plan, their income needs, retirement goals, estate planning, buying a new home, upgrading a vehicle, etc. As we go through life and adapt to the many different situations we encounter, we must adjust our plans accordingly.

Using an IRA or employer retirement plan is a smart way to save! In addition to saving, there are tax advantages to using an IRA or employer retirement plan.

Every year it seems the tax code becomes more and more complicated; as some opportunities disappear, others are created that can lower taxes due when tax returns are filed. Below are two common techniques tax professionals use to lower their clients’ tax burden.

Between rising housing costs, student loan burdens and credit mistakes, achieving financial independence can seem like an impossible undertaking to young adults. Mentors and parents still have many life lessons to impart to young adults, especially around managing money.

A clause in your trust, or a standalone pet trust, can help protect your animals and possibly assure placement. Charities can help, particularly if you are making a gift donation as part of the request to place your animals. In choosing which documents to use to express your intent, do not rely on a will alone. Attorneys say only a trust can help assure prompt response to an animal’s needs (wills may need to be probated, and the probate process can take time. In the interim, the animal must be cared for).

Socially responsible investing—that which aligns an investor’s personal beliefs and faith with their investments—has gained in popularity. As a result, so have ways to invest with social conscience.

COVID-19 turned millions of you into stay-at-home workers. You had to create space for desks, computers, printers, fax machines, and office supplies. Some of these expenses weren’t paid by your employer. In addition, your utility bills, internet access or telephone expenses may have increased during that time. And while expenses increased, your income most likely didn’t.