Financial Advisor

July 11, 2024Property division during a divorce can vary depending on a state’s legal framework, which generally follows either community property or equitable distribution rules. These systems determine how assets and debts accumulated during a marriage are divided between spouses during a divorce, which affects the financial outcome for both parties. If you’re going through a divorce,… read more…

July 10, 2024Building wealth requires a strategic approach that combines earning, saving and investing wisely. Creating a long-term financial plan and learning what investments to take advantage of are key to long-term wealth-building. This approach is grounded in consistency and informed decision-making. For help with a long-term plan or the management of your investment portfolio, consider working… read more…

July 10, 2024Building wealth in your 20s is a crucial step toward establishing a solid financial foundation for the future. Starting to invest early provides your money with more time to grow exponentially through the power of compound interest, significantly increasing its value over time. To achieve financial success, prioritize building savings and make well-informed investment decisions… read more…

July 10, 2024My wife and I are 30 and 34. We have $950,000 in Roth IRAs, $900,000 in mutual funds and five-year CDs and we own our home worth $600,000. We have zero debt. I feel like we have to keep saving and investing to have a financially secure future, but my wife wants to live more… read more…

July 9, 2024My spouse will inherit her father’s house outright upon death and wants to sell it immediately. Would she be subjected to capital gains tax (above the $250,000 exclusion) on the sale and would it matter if only she is on the deed? Or would it make sense to have both of us on the deed to… read more…

July 8, 2024Corporate board members are entrusted with significant responsibilities that directly impact the success and ethical standing of a company. The fiduciary duties of directors comprise two primary responsibilities: a duty of care and a duty of loyalty to the company. By fulfilling these responsibilities, among others, directors can ensure ethical governance and protect the interests… read more…

July 8, 2024When planning for your child’s future education, a 529 plan offers several tax advantages. Contributions to a 529 plan grow tax-free, meaning any investment earnings are not subject to federal tax as long as they are used for qualified education expenses. Additionally, many states offer tax deductions or credits for contributions to a 529 plan,… read more…

July 2, 2024People planning their estates in Texas use durable powers of attorney to give a trusted agent the ability to handle their financial, medical and other affairs for them. There are a number of different types of powers of attorney available in Texas, including durable powers of attorney that are specifically designed to be used when… read more…

July 1, 2024Retiring at 66 with $900,000 in a Roth IRA and $2,200 in Social Security benefits likely is a reasonable plan for many retirees. The income you could reasonably expect to generate from your Roth withdrawals, coupled with your Social Security benefit, probably will be somewhat more than the typical retiree’s expenses. You can likely expect… read more…

June 30, 2024Real estate wealth management is a specialized branch of financial planning that focuses on the value and returns of real estate assets. This involves strategic buying and selling, as well as managing properties, to build and preserve wealth over time. Experts in the wealth management real estate field help their clients navigate the complexities of… read more…

June 28, 2024There are many pros and cons to consider when hiring a financial advisor. First and foremost, they can provide valuable expertise, especially for complex financial planning. Advisors offer personalized strategies tailored to individual goals, potentially leading to better financial outcomes. They can also alleviate the stress of managing investments and financial decisions, providing peace of… read more…

June 27, 2024I’m 69 and began to collect Social Security when I hit my full retirement age in April 2021, but I’m still working fulltime and making a good income. My salary is 2.5 times what I was making four years ago. Social Security has annually adjusted my monthly check every April based on my increased earnings… read more…

June 26, 2024We have $250,000 in the bank and one million to invest for retirement with no debt. We need to earn $50,000 a year from the million. Where should I invest it? -Rob First, congratulations on saving $1 million for your retirement – I’m sure a lot of hard work has gone into this! You have… read more…

June 25, 2024Effective wealth management strategies can significantly enhance financial well-being and maintain long-term security. By incorporating diversified investment portfolios, tax-efficient planning, strategic gifting, estate planning and risk management, individuals can tailor their approach to their unique financial goals. Exploring various wealth management strategies can provide the necessary tools to build and preserve wealth, paving the way… read more…

June 25, 2024Fiduciaries are bound by a legal and ethical obligation known as the duty of loyalty, which requires them to act in the best interests of their clients. This mandate ensures that fiduciaries prioritize their clients’ needs above their own, avoiding conflicts of interest and making decisions that benefit the clients. Whether it’s a financial advisor,… read more…

June 25, 2024Wealth management is a holistic approach to handling financial affairs and creating a strategic plan for managing an individual’s assets. It encompasses various financial services, such as retirement and investment management, estate planning, and more. While often associated with affluent clients, wealth management can benefit a broad range of individuals. Professional wealth management advice from… read more…

June 25, 2024Intergenerational wealth planning is the process of preserving and transferring wealth across multiple generations. This can help you maintain financial stability and preserve a legacy for future family members. This comprehensive approach often includes managing investments, estates and inheritance taxes. By prioritizing intergenerational wealth planning, families can create long-lasting financial security and uphold their values… read more…

June 25, 2024Age 65 is a major transition for many individuals as they shift to thinking about retirement and begin to contemplate benefits like Social Security and Medicare. Retirement planning means you’ll have to consider taxes, healthcare, your retirement budget and more. With $1.5 million in an IRA and two Social Security payments to rely on, a… read more…

June 24, 2024Deciding at what point to hire a wealth manager can have a big impact on your financial well-being. Oftentimes individuals seek out wealth managers when their financial situation becomes too complex to manage on their own. This could be due to a significant increase in assets following an inheritance, the sale of a business, or… read more…

June 24, 2024Wealth planning is a comprehensive approach to managing financial resources that focuses on the accumulation, preservation and the transfer of wealth. This process involves creating a strategic plan that encompasses various aspects of personal finance, including investment management, tax planning, estate planning and retirement planning. Engaging in wealth planning can provide a structured path to… read more…

June 24, 2024I’m single, 85 years old and I need a financial estate planner, as well as an attorney for a will. All of my investments are in mutual funds that I’ve managed myself through the years, mainly because I’ve had bad (and costly) experiences with both financial advisors and lawyers. I, therefore, keep my financial situation to… read more…

June 21, 2024Unlike a traditional savings account that earns interest, a 529 plan grows based on the performance of the investments you select within the plan. Most 529 plans offer a range of investment options, such as mutual funds or age-based portfolios, which are designed to grow over time through market appreciation. So while the account itself… read more…

June 21, 2024If I am not spending all my required minimum distribution (RMD) money each year, can I roll some of this back into my stocks? If so, will I be taxed on the amount rolled back in? Would this be considered double taxation? If I’m only taxed on the additional interest this money generates when I… read more…

June 18, 2024A 529 plan is a tax-advantaged savings account designed to help families save for future education costs. Withdrawing money, also called a distribution, from a 529 plan for qualified education expenses, such as tuition, fees, books, and room and board, is tax-free. Neither the federal government, nor most states, will tax the earnings on these withdrawals.… read more…

June 18, 2024I’m 63 and totally disabled. My wife owns and operates a family business on a property that we own with no mortgage. Our plan is to sell the business for $795,000 and rent the property for $6,000 a month. We also currently have $1.2 million in the stock market, $400,000 in CDs and high-yield savings… read more…