- Disinheriting Your Family in Florida
Disinheriting a family member in Florida is a complex process, particularly when it involves disinheriting a child. Florida law may allow parents to disinherit their children, but the process must be done explicitly through a valid will. Without a will, Florida’s intestacy laws dictate how assets are distributed, and children will generally inherit a portion… read more…
- 7 Estate Planning Tips for Those in Florida
Proper estate planning can save your loved ones time, money and stress during a difficult time. For Florida residents, it’s important to create a solid estate plan that addresses the unique laws and regulations specific to the state. Not only can estate planning ensure your assets are distributed according to your wishes after your death,… read more…
- 5 Estate Planning Tips for Those in California
Navigating the complexities of estate planning can be a daunting task, especially for residents of California, where unique state laws and regulations come into play. Whether you’re looking to safeguard your assets, ensure your loved ones are cared for or simply gain peace of mind, understanding the essentials of estate planning is crucial. In California,… read more…
- Ask an Advisor: Should My Wife Wait to File for Spousal Benefits or Claim Her Benefit Now?
I’m 63 and still working. My wife, who is 64 ½ and retired, spent most of her working life raising our children at home. She qualifies for Social Security at a current rate of $675 and $845 if she waits until FRA. I plan on working for another two or three years. My Social Security… read more…
- Understanding the Value of Hiring a Financial Advisor
Hiring a financial advisor requires knowing what you want out of an advisor before you actually start looking for one. Depending on what you want help with, there’s quite a bit of value they can offer beyond the typical DIY approach to financial planning, retirement planning, investing and other financial ventures most people embark on.… read more…
- Should You Pay Off Your Car Loan or Invest?
If you have come into some extra cash, you may be faced with one dilemma: pay off your car or invest? Both options have their benefits, but the decision largely depends on your financial goals, interest rates and risk tolerance, among other factors. Paying off your car loan can offer peace of mind and free… read more…
- How Many Years in Advance Should My Financial Plan Go?
A solid financial plan can provide clarity for both short- and long-term goals, but you may be wondering: How many years should my financial plan cover? There’s no one-size-fits-all answer, but understanding the factors that influence the time horizon for a financial plan can help in making an informed decision. From life goals to market… read more…
- 8 Financial Milestones to Hit by Age 40
Reaching age 40 can present an opportunity to assess financial progress and set the stage for future stability. Many individuals aim to achieve specific financial milestones by this milestone age, like having a well-padded emergency fund or saving for college tuition. By focusing on these goals, people in their 40s can better prepare for the… read more…
- How Much It Costs to Own a Small Plane
Owning a small plane is a dream for many aviation enthusiasts, offering the freedom to explore the skies at your leisure. But before taking the plunge into aircraft ownership, it’s crucial to understand the financial commitment involved. The cost of owning a small plane extends beyond the initial purchase price, encompassing a range of ongoing expenses… read more…
- How to Track Expenses for Your Financial Plan
Tracking your expenses is key to developing and maintaining a financial plan. Whether you’re paying off debt, building an emergency fund, or planning for retirement, monitoring your expenses gives you a clear view of your financial situation and keeps you on track to meet your goals. If you don’t have a financial plan yet, consider… read more…
- Creating a Financial Plan Both Personally and for Your Family
Creating a financial plan that covers both your needs and your family’s is important for protecting your financial future. Personal and family goals may differ, but they often overlap, so it’s necessary to coordinate efforts to achieve both. A good plan prepares you for unexpected events while working toward long-term goals like homeownership, retirement and… read more…
- What Is a Financial Goal Planner Document?
A financial goal planner document is a tool that helps individuals outline, organize and track their financial goals. Whether you’re saving for a major purchase, planning for retirement or building an emergency fund, having a clear financial plan in place can help you stay on track and achieve your objectives. This document serves as a… read more…
- What Are the Tax Implications of Switching Financial Advisors?
Switching financial advisors can come with tax implications that investors should be aware of. For one, the transfer of assets between accounts may trigger taxable events, particularly if investments are sold to facilitate the transfer. Additionally, fees associated with the switch—such as exit fees or early withdrawal penalties—could potentially have tax consequences. Investors should also… read more…
- How to Choose a Suitable Financial Goal for You
Setting goals is an important part of any financial plan. Without goals, it’s impossible to know if you’re on the right track. Choosing a good financial goal starts with understanding your current financial situation and envisioning where you want to be in the future. Whether you’re aiming to save for a comfortable retirement, buy a… read more…
- 5 Financial Milestones to Hit by Age 30
Your 30s are an important stage in your financial journey. It is often a time when you start thinking more about long-term goals like buying a home, saving for a child’s education, building a retirement fund or paying off debt. By the time you turn 30, hitting certain financial milestones can set you on a… read more…
- 4 Financial Goals to Set for Your 20s
Your 20s are an exciting time full of new opportunities, whether it’s starting your first job, getting married or gaining new independence. While it’s easy to get caught up in the whirlwind of new experiences, setting financial goals during this decade can help set you up for success in the future. After establishing a strong… read more…
- How to Set and Achieve Your Short-Term Financial Goals
Setting and achieving short-term financial goals can be a transformative step in managing your personal finances effectively. These goals, typically set for several months or a few years, help you focus on immediate financial priorities and lay the groundwork for long-term success. Whether you’re aiming to build an emergency fund, pay off a small debt… read more…
- How to Find a Financial Advisor for Actors and Entertainers
Finding a financial advisor familiar with the unique needs of actors and entertainers is crucial for those managing the often unpredictable income streams and complex financial situations in the entertainment industry. Start by seeking advisors who specialize in working with clients in the arts, as they will be familiar with the specific challenges and opportunities… read more…
- Examples of Financial Goals and How to Reach Them
Establishing financial objectives is a crucial step in preparing for your future. Typical financial goals might involve creating an emergency fund, setting aside money for retirement, eliminating debt and investing to achieve long-term growth. Reaching these goals requires discipline and strategies tailored to each individual objective. By breaking larger financial goals into smaller, manageable steps,… read more…
- Ask an Advisor: We’re in the 35% Tax Bracket. At What Point Does It Make Sense to Start Converting Our 401(k) Into a Roth?
Although everyone is different from a tax bracket standpoint, at what tax bracket does it makes sense to start converting your 401(k) into a Roth 401(k) and pay the taxes upfront? For instance, I am 42 with a combined income of $560,000 between myself and my wife, putting us in the 35% federal tax bracket.… read more…
- How to Invest in SpaceX
SpaceX continues to achieve key milestones in 2025. SpaceX brought two NASA astronauts, Butch Wilmore and Suni Williams, successfully back to Earth from the International Space Station in March. The company is also planning to send astronauts on a first-ever polar orbit to conduct research experiments, which include studying the aurora borealis. Additionally, the company’s… read more…
- How to Evaluate Your Financial Advisor’s Performance
Evaluating your financial advisor’s performance involves looking beyond mere portfolio growth and delving into a variety of factors that reveal the advisor’s true effectiveness. When considering how to evaluate your financial advisor, review the quality of advice provided, the advisor’s alignment with your financial goals and the transparency and frequency of communication, among other factors.… read more…
- 5 Milestones to Help You Reach Financial Independence
Achieving financial independence can seem like a daunting task, but breaking it down into clear, attainable milestones can make the journey feel more manageable. Financial independence milestones act as guideposts, helping you measure progress and stay on course as you work toward greater financial freedom. From creating a solid emergency fund to diversifying your investments,… read more…
- 8 Signs It’s Time to Change Financial Advisors
Sometimes, the question is not can you change financial advisors, but rather, should you change financial advisors? Perhaps you have noticed a lack of communication or feel like your goals are not fully understood. Maybe there are red flags like high fees or ethical concerns. Whatever the reason, it could be time to reassess the… read more…
- Ask an Advisor: Can I Collect Social Security Survivors Benefits Now and Switch to My Own at Full Retirement Age?
I’m 62 and currently working but my spouse passed away when I was 60. He waited until age 70 to take his Social Security. Can I collect his Social Security now in addition to my paycheck? If I get more money under my account at FRA, can I switch? – Ellen I’m sorry to hear… read more…