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For small business owners, tax planning is crucial. Without proper planning, you may find a large portion of your hard-earned profits and savings eaten up by taxes that may not have been so high if you knew better options to pursue. To...

Life today is expensive, and contributing to a retirement plan is more beneficial than ever. Often, the IRS raises contribution limits annually, such as the contribution limit for 401(k)s increasing to $23,500 for 2025 from $23,000 in...

If you're a business owner, you are likely the Chief Everything Officer at work and have many responsibilities. A business owner's situation is unique since they are asset-rich and cash-poor since their wealth is in their...

Self-employed parents have unique considerations when sending their children to college. If you own your own business, there are several ways to optimize your financial situation as you prepare for your child to go to college. Keep...

Did you know, according to CNBC, more Americans are expected to turn 65 through 2027 than at any other time in history? This rapid population increase of older adults is often called the “Silver or Gray Tsunami,” though many new...

If you've never engaged in financial planning and are unsure how to get started, this article is for you. A financial plan starts by evaluating your current financial situation and future expectations and can be created independently...

In this day and age of high cost of living, elevated inflation, steady rise in taxes, particularly property, and market volatility, the idea of cutting back on frivolous spending has gained significant traction. Consumers are working...

Year-end charitable giving is often associated with the spirit of doing good during the holiday season. It gives the donor a feeling of satisfaction and, in some cases, a substantial tax write-off. However, one question that often...

As the year comes to a close, there are some important deadlines that you shouldn’t ignore. These deadlines affect your taxes, savings, and, perhaps, your financial future. Here’s a simple guide to help you stay on track before this...

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a...

Before the year ends, it’s important to review your finances with a financial professional. Here’s a simple checklist of nine things to double-check to make sure you’re in good shape for the new year. Review Your Tax Withholdings If...

When you ponder saving for college, you may think your options are limited to a 529 college savings account or a regular brokerage account. However, many parents are using individual retirement accounts (IRAs) or Roth IRAs to help pay...

With the cost of college expensive for many, receiving a tax break from the IRS for college-related expenses may be appealing. 529 Plans and Coverdell Education Savings Accounts (ESAs) offer tax-advantaged withdrawals when used for...

Self-employed parents have unique considerations when sending their children to college. If you own your own business, there are several ways to optimize your financial situation as you prepare for your child to go to college.

The time has finally arrived: your child is preparing for college and getting ready to take that next big life step. It is an exciting time, but for many parents, the financial responsibility and impact on their wallets can be...

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a...

Philanthropy today is different than it was in the past. It was once common for donors to distribute their wealth through smaller grants to numerous organizations. Over time, best practices for charitable giving have evolved, and...

The end of the year can be a chaotic time for business owners. It is a time to compile data, review the numbers, evaluate strengths and weaknesses, and determine growth opportunities for the future. A business owner would be keen to...

Part of the joy of making money and building wealth is not solely the aim to live a flexible life of convenience; it is also giving to those we love. Typically when we think of passing down money to loved ones, it is through a will...

When it comes to your estate plan, you don’t just have it drafted and put away until it is time for your loved ones to manage your lifetime of affairs. As your world changes year by year, it is critical that you review your estate plan...

You may be retired and considering investing some of your retirement nest egg. Depending on your situation, it is crucial that investing in the stock market, bond market, or other investments does not jeopardize your retirement savings...

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...

Since it first became available in 2006, many employers have added the Roth 401(k) to their benefit packages as a retirement savings option.

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

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.

You have probably heard about financial planning and its potential benefits, but you are unsure how to apply the principles to your life.

Social Security, established in 1935, provides financial benefits to the elderly, disabled, and disadvantaged groups. However, there are concerns regarding its sustainability.

Social Security (SS) retirement benefits are a vital component of retirement income for many people.

Many near-retirees view their upcoming retirement as a time to kick back, relax, and make memories with loved ones. But for some, retirement may offer the opportunity to work for yourself instead of working for someone else.

How do you know if it's time to retire as a small business owner? Download our checklist today!

Understanding and effectively using credit can be a game-changer for a small business owner. When managed wisely, credit can provide financial confidence to grow your business, expand your operations, and take advantage of...

Financial literacy is essential for your personal financial health and even more crucial for the financial health of your small business.

Financial literacy refers to the skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances.

Managing retirement strategies and creating goals can help you stay focused and consistent in your financial efforts.

In today’s fast-paced environment, careful financial planning is crucial when it comes to growing and preserving your wealth. The decisions you make today could have a lasting impact on your finances.

Shopping for a life insurance policy doesn’t have to be confusing and overwhelming. If you take some time to understand the basics and how it works, you can better determine the coverage that may be beneficial for you and your family’s need

Like many other medical professionals, pharmacists often have much on their plate. Between managing medications, consulting patients, and keeping up with the pharmaceutical industry's ever-changing landscape...

Money management can help support career success – whatever your discipline. You may be a newbie or have some experience, either way, you may benefit from some supportive financial habits that you put in place to get you on the right track.

The Social Security Fairness Act, HR 82 is a bill that was recently signed into law that repeals several decades-old provisions and aims to increase Social Security payments for nearly 3 million former and current public employees...

There are only two things in life you can count on happening at some point--death and taxes. In death, these two circumstances can come together at the same time.

A critical aspect of retirement planning is understanding the rules and requirements surrounding Required Minimum Distributions (RMDs) from retirement savings accounts.

High-net-worth individuals (HNWIs) often face a complex financial landscape characterized by diverse investments and sophisticated financial concerns. They require comprehensive financial planning to preserve and manage their wealth.

The end of the year is not just a season for celebration and reflection but also a perfect time to ensure that our finances are in order.

When giving gifts to our children or grandchildren, we often default to the latest toys or gadgets. However, the value of these items tends to diminish over time in terms of both interest to the child and monetary value.

When inflation is high, holiday traditions like decorations, family gatherings, and gift-giving may feel like burdens. Rising prices may leave you wondering how to maintain your spirit without breaking the bank.

Black Friday and Cyber Monday are great times to find amazing deals, but they’re also a prime time for scammers. While you’re hunting for bargains, stay alert to avoid getting caught in a scam.

Thanksgiving is a special time when family members travel long distances, some from across the country, to be reminded why they moved so far away in the first place.

Freedom, unfortunately, doesn’t come free. Along with those fighting on the front lines and the men and women working behind the scenes to help them safeguard our freedoms, we also mustn’t forget their families that are making...

Finance these days may be overwhelming and stress-inducing. Whether it’s following up on overdue bills or saving for the future, financial woes may cause a domino effect that challenges the calmness you work hard to preserve.

One of the most important decisions we make in our lives is how we plan to manage our money. Some people feel confident enough to tackle it themselves.

Engaging a Financial Professional Before Crisis Strikes. Between work commitments, children’s schedules, and fall cleaning, how much time is left in our busy days to think about financial planning?

For nearly everybody who enters the workforce, retirement is something they work toward, think about, and plan for. There are different strategies when it comes to retiring. For some, the thought of being able to retire early is exciting.

During National Financial Planning Month, consider why a financial professional might be of value in assisting you with steering your business toward long-term effectiveness.

Fall is a magical time of the year throughout much of the country. This season of cider sweaters is also a great time to sit down and give your finances a comprehensive review.

Now you can bring a burst of autumn to the dinner table with this butternut squash recipe—made with cranberries and honey, it’s a delightful dish that tastes as good as it looks!

Many dream of working toward early retirement, but getting there generally doesn’t happen by accident. Retiring early requires financial independence that can last for decades, but that is much easier said than done.

As one embarks on their journey toward a high-net-worth status, it's crucial to understand that strategic planning and intelligent decision-making are essential for wealth generation and preservation.

On November 6, 1869—a mere four years after the end of the American Civil War—players from Rutgers and Princeton met on the field in New Brunswick, New York for the first intercollegiate football game.

Whether you make tennis one of your leisure activities during retirement or just enjoy watching the sport, you may not realize that the same strategies used in a tennis match may also translate into retirement.

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 practicing.

Both trading and investing involve purchasing financial assets for the purpose of growing the value of those investments and either earning a profit through a sale, the accumulation of interest, or dividends paid out.

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy called...

The need for regular saving and investing spans many life stages. Through the years, your goals will change and your strategies will shift, but don’t be alarmed.

Do you remember how hard it was learning about finances by making mistakes? Don’t make your kids suffer through that like you had to. Here are seven tips you can teach your children, so they don’t have to learn the hard way.

Who doesn’t remember their first job, receiving your first paycheck, and even applying for and using a credit card for the first time?

Freedom, Fireworks, and Fueling the FIRE (Financial Independence, Retire Early) Movement

Steven Budin JD, CFP®

Monday, July 1, 2024

Freedom is not won by sitting idly and hoping for a miracle. Financial freedom requires vision, courage, and sacrifice for a higher goal. The Financial Independence, Retire Early (FIRE) movement is a part of that vision.

As a small business owner, having the right insurance coverage can be the difference between success and bankruptcy. Below, we explain six of the most critical types of small business insurance.

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood.

Although many things have changed in the financial world over the past 20 years, some nuggets of financial advice are timeless. Here are a few tips that have remained constant for several generations.

A variable annuity is a contract between you (the purchaser) and an insurance company (the issuer). In return for your premium payments, the issuer agrees to make periodic payments to you...

As summer arrives, so do new opportunities for fun like barbecues, campouts, vacations, and shopping sprees. If you have children with you on vacation, you might also be scrambling to find entertaining activities that will fill their time.

Veterans and those on active-duty face unique financial planning challenges. Memorial Day is an important holiday observed in the United States to honor the men and women who have died while serving in the country's armed forces.

To maintain good physical health, most people must exercise regularly, eat a balanced diet, and keep stress to a minimum. Achieving financial wellness is no different.

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances.

The Kentucky Derby, one of the most prestigious horse racing events in the world, may seem like an unlikely candidate for a comparison with financial planning.

Maximizing Wealth: 5 Ways a Financial Professional May Help Propel High Earners Towards HNW Status

Steven Budin JD, CFP®

Monday, April 15, 2024

The journey to prosperity involves more than just a high income. It requires strategic planning, wise investment decisions, and a keen understanding of your financial landscape. On Financial Professional Day, explore how working with a...

Don’t Forget to File! 8 Tax Filing Tips to Help Mitigate the Stress

Steven Budin JD, CFP®

Monday, April 8, 2024

Tax filing can be stressful because of its complexities and the financial responsibility of owing taxes without having an emergency fund, or money put aside for this occasion. We wanted to share eight tips that may help you mitigate some...

Health Is the New Wealth: HNW Individuals, LTC Insurance and Healthcare

Steven Budin JD, CFP®

Monday, April 1, 2024

A perspective shift occurs in the wealth landscape; many now recognize health as the new wealth. Healthcare, long-term care (LTC) insurance, and other wealth-related financial instruments have become essential considerations for HNW ind...

Spring Cleaning Your Investments

Steven Budin JD, CFP®

Monday, March 25, 2024

Spring is traditionally the time to clean the garage and to get the yard in shape. It’s also a great time to clean up your investment portfolio. Going into the final days of tax season, this is a perfect opportunity to get rid of clutter.

Spring Has Sprung: Time to Refresh Your Retirement Plan

Steven Budin JD, CFP®

Tuesday, March 19, 2024

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...

Celebrating St. Patrick's Day this weekend? Whip up some delicious, crunchy corned beef and cabbage egg rolls served with creamy beer mustard to celebrate all things green!

Empowering Financial Independence for Women

Steven Budin JD, CFP®

Friday, March 8, 2024

n honor of International Women's Day, we want to acknowledge the unique financial challenges women face, and the need to proactively plan for their financial futures.

Don't Let Someone Go on Vacation on Your Dime: How to Keep Your Money Safe from Scammers

Steven Budin JD, CFP®

Wednesday, February 28, 2024

Technology continues to grow and evolve, allowing us to stay connected and perform many daily tasks from home. There is a drawback to technology, however. It often leaves us more vulnerable to scammers who hide behind the anonymity that...

How Does a Leap Year Impact Your Finances?

Steven Budin JD, CFP®

Friday, February 23, 2024

How does a Leap Year impact your finances? Every four years, an extra (or intercalary) day is added to February to keep the calendar aligned with the seasons.

3 U.S. Presidents Who Still Influence Your Retirement Planning Today

Steven Budin JD, CFP®

Wednesday, February 14, 2024

Each year, Presidents' Day is celebrated on the third Monday in February, paying tribute to George Washington, Abraham Lincoln, and the other U.S. presidents who helped create this country and allowed it to thrive. But while the...

You want to start a business? Now what?

Steven Budin JD, CFP®

Thursday, February 8, 2024

Starting a new business is no small feat. It involves several of steps, from the early planning stages to filling out the necessary legal documents. Here are 10 steps to consider when starting a new business.

You started a business: Now what?

Steven Budin JD, CFP®

Wednesday, February 7, 2024

You started a business, took the initial steps to build a foundation, and are now working to grow and expand your customer base. What are the next steps to take? Here are five suggestions!

Plan a Date for a Heart-to-Heart Couple’s Talk About Retirement Planning

Steven Budin JD, CFP®

Friday, February 2, 2024

Retirement planning may not be your idea of an exciting date night. However, retirement strategies and goals are so varied that couples in committed relationships need to set aside time to discuss plans for when they leave the workforce.

Here’s Why the Walking Craze Won’t Be Dying Down

Steven Budin JD, CFP®

Wednesday, January 31, 2024

If there’s one thing we’ve all had in common during these times, it’s experiencing the benefits of walking. Even if you’ve just seen people on social media talking about walking more, it’s been a fitness trend that has risen in the ranks...

Key Financial Wellness Metrics for Near-Retirement Individuals

Steven Budin JD, CFP®

Monday, January 15, 2024

As one approaches retirement, monitoring your financial situation by understanding your net worth and assessing the assets and resources needed to maintain a comfortable lifestyle throughout retirement is vital.

8 Financial Wellness Tips to Help Manage Generational Wealth

Steven Budin JD, CFP®

Friday, January 12, 2024

Asset management and financial wellness can help develop long-term confidence when wealth transfers from generation to generation. Understanding and implementing financial wellness techniques is essential for effectively sharing wealth...

Staying Physically (and Fiscally) Fit as You Age

Steven Budin JD, CFP®

Monday, January 8, 2024

Aging is a natural process that everyone goes through, but how we age can be significantly influenced by our daily habits. Staying fit and healthy as we grow older is not just about physical exercise, though that plays a crucial role.

6 Business Goals for a Prosperous New Year

Steven Budin JD, CFP®

Tuesday, January 2, 2024

The new year is fast approaching, and it is the perfect time to set up resolutions for your business. Whether you want to increase your sales, gather a more extensive customer base, or just accomplish needed business improvements...

White Bean Chicken Chili

Steven Budin JD, CFP®

Tuesday, December 26, 2023

Nothing fills (and warms) the stomach during colder months quite like chili. But instead of traditional chili, try your hand at this white bean chicken chili.

Rosemary Cranberry Whiskey Sour

Steven Budin JD, CFP®

Wednesday, December 20, 2023

Become the party’s mixologist with this seasonal cocktail recipe. This recipe is great without the whiskey, for a classy adult “zero proof” drink. You can also make a big batch for a lovely punch.

Like Ugly Holiday Sweaters, Retirement Planning Is Not ‘One Size Fits All’

Steven Budin JD, CFP®

Thursday, December 7, 2023

Just as every snowflake is unique, so is every person's retirement plan. Though there are some general strategies that can be helpful—contribute at least 10% of your salary; have at least one year's salary saved for retirement by age 30...

Dos and Don'ts for Investing During the Holidays

Steven Budin JD, CFP®

Thursday, December 7, 2023

In the world of investing, the "holiday effect," as it is often referred to, is a phenomenon where stock prices see an increase right before a major holiday. There are many theories on why this may occur. It could be from trading...

Your Traditional 401(k) Year-End Review Checklist

Steven Budin JD, CFP®

Thursday, November 30, 2023

A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a percent...

BACK TO SCHOOL: GETTING YOUR FINANCIAL HOUSE IN ORDER

Steven Budin JD, CFP®

Friday, August 14, 2020

The abrupt end to the 2019-2020 school year in many parts of the U.S. left parents and students alike struggling to establish healthy routines. As many students prepare to head back to the classroom (or the remote classroom) this fall,...

TEACHING MONEY MINDFULNESS TO YOUR CHILDREN

Steven Budin JD, CFP®

Monday, July 20, 2020

At some point in a child's development, all parents wonder: how can I best teach my child the value of money? Parents who grew up in more modest circumstances than their own children can struggle to balance the...

GETTING STARTED: ESTABLISHING A FINANCIAL SAFETY NET

Steven Budin JD, CFP®

Tuesday, June 9, 2020

In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash...

529 SAVINGS PLANS VS. PREPAID TUITION PLANS

Steven Budin JD, CFP®

Thursday, May 28, 2020

Section 529 plans are popular education savings vehicles. To choose the type of 529 plan that's right for you, it's important to understand how 529 savings plans and 529 prepaid tuition plans work and the differences between them. Who...

There is a lot of financial responsibility after obtaining a large sum of money. Your main goal should be able to take the money you receive from your contract and make it work for you and your family. Here 5 things you should do right...

In these trying times, even those with veins of steel can find themselves nervous about the market's direction and what it could mean for one's financial future. And the unprecedented nature of the novel coronavirus—and its...

Most of us go to see professionals when we’re in trouble or during times of crisis. Think about it. We go to the doctor when we’re sick. We go see a lawyer when we have a pending legal matter. We go see a counselor when...

Negotiating a contract as a professional athlete can be extremely difficult. It is a unique opportunity and that needs a tremendous amount of preparation. Here are a few issues to consider when preparing to negotiate a contract....

Pro athletes and other affluent individuals tend to be primary targets for unscrupulous financial professionals.  It is crucial to conduct thorough research when looking for a financial advisor.  A successful, long-term...