Blog

Avoid Becoming the Bank of Mom and Dad

It’s common for adult children to ask their parents for financial aid, even if you’ve worked hard to raise your kids to be self-sufficient. While it may be your instinct to want to help your child, you need to consider how...

Income Tax Checklist to Stay on Track

Tax time is upon us, and that means gathering all of your documents needed and getting them in one place to make filing your taxes as easy as possible. We thought it would be helpful to send along this handy checklist to assist with...

Identity Theft Awareness Week

January 30 to February 3, 2023, is Identity Theft Awareness Week. Anytime is a good time to tighten up your identity security, but if you haven’t been as careful as you intended, consider this your annual reminder. Here are a few...

Outlook 2023: What's Next for Interest Rates?

What does the bond market know that the Fed isn’t telling us?Fed officials recently have said that short-term rates will need to climb to over 5 percent to bring inflation under control. But in the table below, you can see that...

Social Security 2023 COLA Increase Kicks In

While you probably already found your notice in the mail, you may be curious about the COLA increase happening for Social Security recipients in the New Year. Starting in January, beneficiaries will see an 8.7% increase to help offset...

Does Emotional Investing Affect Your Results?

Investing in the stock market can sometimes feel like riding a rollercoaster, full of ups and downs. There’s the thrill and excitement when the market goes up, but also uncertainty and fear when it goes down. It’s important...

10 Common (and Costly) Medicare Mistakes

As we age, one consideration that weighs on most people is the cost of healthcare in retirement. While we can’t truly predict the cost, we can take time to educate ourselves about the options or resources available to help pay...

The Biggest COLA Increase Since 1981

How well do you remember 1981? Harrison Ford had his first bow as Indiana Jones in Raiders of the Lost Ark. Frogger and Donkey Kong were all the rage at video arcades. Bob Ross left the Air Force and took up painting. On top of that,...

JOLTS of Optimism for the Markets?

We measure the jobs market in many ways, but the Job Opening and Labor Turnover Survey or JOLTS report seems to be of particular interest to Fed Chair Jerome Powell.The JOLTS report tells the Fed how many job openings there are each...

These Important Documents Can Protect Your Loved Ones

If you’re like most people, you’ll do just about anything to protect your loved ones. Yet many of us fail to consider or prepare for the inevitability of death, which can result in heartache, frustration, and unnecessary...

Ways to Prevent Elder Financial Fraud

If you’re like most people, you don’t spend much time worrying about whether you’ll become a victim of financial fraud.  Unfortunately, this overconfidence can leave you vulnerable. While financial fraud is a...

Let's Review Your Life

Life doesn’t stand still. Neither do your life insurance needs.If you have a quote or policy and haven’t reviewed it lately, you may be surprised to discover that what worked for you then may not not meet your needs now...

A 9.6% COLA increase? It could be the real thing!

Like many Americans, you may be feeling pain from the high cost of living every time you buy groceries or fill up at the pump. Surging food costs and higher gas prices are pinching consumers, especially those living on a fixed income....

3 Shrewd Maneuvers in a Down Market

It’s natural to think “defense” during a bearish market season. But why not mix in some “offense” with your defense? Here are three moves we can discuss together that may be helpful during the current...

Debunking Top Myths About Annuities

If you’re like most investors, market volatility can really set you on edge. Especially if you’re concerned about how a deflated market might impact the income you’ll need during retirement. The idea of having a...

5 Reasons Why Women Need to Invest

Despite progress toward financial planning and saving, women often face challenges regarding their financial security. These challenges can include more time away from the workforce (often caring for children or for parents), the...

3 Shrewd Maneuvers in a Down Market

It’s natural to think “defense” during a bearish market season. But why not mix in some “offense” with your defense? Here are three moves we can discuss together that may be helpful during the current...

Care for a COLA with Your Social Security?

As you might have heard, people are talking about a big bump in Social Security benefits next year.The Senior Citizens League says payments could rise by as much as 8.6 percent in 2023, compared to an increase of 5.9 percent in 2022....

Study: Hobbies Keep You Sharp

Did you know that hobbies can help you live a longer and more fulfilled life? Many scientific studies have found that having a hobby can improve your physical and mental health, keep you sharp on the job, and help your relationships....

Optimistic Sign In a Fear-Filled Market?

FEMA Resources, Per our Discussion

Consumer Confidence at the Pump

A Challenging Start to 2022

Keeping it in Perspective

You Can Celebrate Retirement Stress-Free

RMDs Get a Small Reprieve

5 Great Finance Blogs

Don’t Fall Victim to Coronavirus Scams

We hope this email finds you and your family safe and healthy.There are many questions regarding COVID-19 surrounding how to stay safe, when we can expect to get back to normal life and short- and long-term economic impact of the...

The Power of the Consumer

A confident consumer can be a powerful ally in an economy. But when the consumer starts to have questions, we can measure consumer confidence in everything from retail sales to home buying to the personal savings rate.In recent months...

QCD Your RMD?

Whether you’re fully or partly retired, you may find that your assets are sufficient to cover your lifestyle for the remainder of your retirement. In that case, you may not feel like you need to use any additional money from...

Is Inflation Peaking?

You see it in prices at the grocery store and the gas station. You feel it in your monthly budget. So why don’t the financial markets seem too concerned about inflation?Remember, financial markets are considered...

How to Avoid Phone Scams

Scammers are pretty crafty these days. With sophisticated software to help make themselves sound convincing (“You’ve won money!” “You owe the IRS!” “You’re getting a refund!”),...

The Future of Money

If your like me, you don't whip out your phone to pay for your gas, groceries or even a candy bar. You pull out your wallet, and not to get out the debit or credit card. I hand over the cash. My credit card has been hacked more than...

Retirement Challenges in Current Times

Preparing for retirement is complex for many reasons. With improved medical care, a person retiring today at typical retirement age may need their savings to last 30 years or more, making it necessary for retirement funds to sustain a...

Medicare 101: Understanding the Basics

One of the biggest decisions to make in retirement is ensuring you have the health care coverage you need, when you need it. Medicare can be a complicated program to navigate and as you approach the time in which you can begin...

Keeping your eyes on the goal

As the struggle to control COVID-19 drags on, many of us experience periodic fatigue from distancing, negative headlines and future uncertainties. Staying disciplined when weary is difficult but crucial to short-term financial...

Facts About Medicare Open Enrollment

Medicare’s open enrollment period runs from October 15 to December 7. If you are enrolling in Medicare for the first time, give yourself plenty of time. You may discover that it is much more complex than an employer-sponsored...

Want to be a Millionaire? Billonaire? Check out how Warren Buffet did it.

Who doesn't want to be a Millionaire? Billionaire, even better. Here is an article on Warren Buffet to celebrate his 90th birthday giving a timeline and a look into how he did it. When you get to the end, it doesn't seem that hard. I...

Insurance Coverage vs. COVID 19

Are you covered if you catch COVID? Because it's an unknown, insurance companies are just starting to deal with the claims coming in due to coronavirus. If you have questions, please contact your insurance carrier. Check out the...

Michigan's New Auto Insurance

Have you heard that your auto insurance now has new choices? These new rules go into effect July 1st and could have a big impact on anyone in a serious auto accident. If you haven't heard about it, please contact your insurance carrier...

Dismemberment Abortion Signatures

As some of you know, when you stopped into the office during the last few months of 2019, I probably asked you to sign the petition for the Banning of Dismemberment Abortion. I received this final update and thought I would pass it on...

Life Insurance

We all have questions about life insurance. Do I really need it? It's too expensive. Should I have it? It might make things easier for my family. What if I go into a nursing home? Does it help with those costs? It's always there in the...

There's Still Time to Contribute to an IRA for 2018

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2018. You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2018 ($6,500 if you...

Tax Planning for Income

You don't want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income. 1. Postpone your income to minimize your current income tax liability...

Death of a Family Member Checklist

Losing a loved one can be a difficult experience. Yet, during this time, you must complete a variety of tasks and make important financial decisions. You may need to make final arrangements, notify various businesses and government...

Retirement: Proceed With Caution Before Relying on General Rules

When investing for retirement, you're likely to hear a lot of well-meaning guidance from family, friends, and others offering advice — even the media. As you weigh the potential benefits of any commonly cited investment rules,...

Why I Don't Want to Buy Life Insurance

If you're like most people, it's not that you don't appreciate the value of life insurance. In fact, many people believe they need more coverage. You probably wouldn't mind owning additional life insurance. It's just that you don't...

Risk Management and Your Retirement Savings Plan

By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to participate is just one step in your...

Trust Basics

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility--many...

Test Your Knowledge of Financial Basics

How well do you understand personal finance? The following brief quiz can help you gauge your knowledge of a few basics. In the answer section, you'll find details to help you learn more. Questions 1. How much should you set aside in...

Investing as a Couple: Getting to Yes

In a perfect world, both halves of a couple share the same investment goals and agree on the best way to try to reach them. It doesn't always work that way, though; disagreements about money are often a source of friction between...

Use Your Annuity to Pay for Long-Term Care Insurance

The cost of long-term care can quickly deplete your savings and affect the quality of life for you and your family. Long-term care insurance allows you to share that cost with an insurance company. But premiums for long-term care...

Getting Help from a Financial Professional

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you're on the right track with your savings and investments? Finding yourself with new responsibilities, such as...

SOCIAL SECURITY: MAXIMIZING BENEFITS

Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don’t know that there are other ways to maximize their benefits, some of which depend on their marital status....

Common Factors Affecting Retirement Income

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by...

Balancing Your Investment Choices with Asset Allocation

A chocolate cake. Pasta. A pancake. They're all very different, but they generally involve flour, eggs, and perhaps a liquid. Depending on how much of each ingredient you use, you can get very different outcomes. The same is true of...

Key Estate Planning Documents You Need

There are five estate planning documents you may need, regardless of your age, health, or wealth: Durable power of attorney Advance medical directives Will Letter of instruction Living trust The last document, a living trust, isn't...