We're thrilled to announce a significant enhancement to SIMPLE and SEP IRA plans: Roth employee deferrals. This new feature, introduced by the SECURE 2.0 Act, offers your employees a powerful tool to save for retirement. Roth employee deferrals allow participants to contribute after-tax money to their SIMPLE and SEP IRA plans. Unlike traditional contributions, which are tax-deductible now but subject to income tax upon withdrawal, Roth contributions grow tax-free. This means you can withdraw your funds penalty-free after age 59½.

The stock market passed a tough test recently. On August 5, the combination of a weaker-than-expected jobs report for July and too much borrowing from some overly complacent traders (much of it in Japanese yen currency) caused a sharp market sell-off. Stocks have since bounced back on subsequent evidence that the economy continues to grow steadily.

Life insurance serves a vital role in financial planning, providing security and peace of mind to individuals and their families. Beyond its primary purpose of safeguarding loved ones in the event of the policyholder's passing, life insurance also plays a significant role in the realm of taxes. Understanding how life insurance impacts taxes can help you make informed decisions when considering your financial strategy.

Stocks must have gotten the memo that August tends to be weak historically. July, the eighth positive month in the past nine, was quickly forgotten as the beginning of August greeted us with a selloff. The primary catalyst was August 2’s weaker-than-expected employment report, which ignited concern that the U.S. economy could tip into recession.

The dreaded R word is being talked about yet again and while we are tired of predicting whether or not we might see a recession in our future, the reality is that economic downturns are a natural part of the economic cycle and can happen at any time. So, here are a few things to consider that can help you stay ahead of the curve and be ready.

A Strategic Approach to Rewarding Key Employees. An executive bonus plan is a valuable tool for attracting and retaining key executives because employees gain additional life insurance protection— especially valuable to families with dependent children—while accumulating retirement income that grows tax free and can be accessed on a tax-favored basis through policy loans and withdrawals.

Stocks finished the first half of the year the same way they started — with solid gains. Strong rallies from big tech names, combined with somewhat softer economic and inflation data, helped propel the S&P 500 to its seventh monthly gain in the past eight months and set dozens of new record highs along the way. As we close the book on a strong first half for the stock market, we celebrate America’s 248th birthday.

There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of fitness, there are baseline elements associated with financial fitness. To make sure that you’re on the right track, develop a financial plan that lays out clear goals and timelines.

Elections often bring about heightened market volatility and increased speculation and it's natural to feel a sense of unease or hesitation about how political outcomes may impact our investments. However, I want to emphasize that maintaining a steady course during these times is crucial for long-term financial success.

April showers brought May flowers as markets placed greater importance on economic growth and corporate profits than the “higher for longer” interest rate messages from the Federal Reserve (Fed). In fact, the S&P 500 ended May above where it ended March. So, as you prepare for summer vacations, how much should you worry about your stock portfolios?

Investing can be overwhelming and can often be a source of stress and anxiety. Unfortunately, this can lead to making emotional and reactive decisions, which can significantly impact our potential for success. Understanding how emotional and psychological factors play a role in our investment strategy is crucial in learning how to control our behavior.

After a strong first quarter for stocks, some April showers rained down as the S&P 500 fell about 4% last month. Hopefully those showers will bring some flowers in May, despite the widely cited stock market adage, “Sell in May and go away.” There is some merit to this old adage because the S&P 500’s best six-month returns have, on average, come from November through April, and its worst between May and October (recall bear markets often end in October). Still, historically the index has gained an average of 1.8% from May through October — hardly worth avoiding.

As a small business owner myself, I am deeply passionate about supporting small businesses in every way that we can. Owning a business and navigating the financial complexities that come with it can be overwhelming and challenging, to say the least. In this blog post, we will explore the various ways in which our firm works with small businesses to help them succeed financially and reach new heights of prosperity.

Receiving a large tax refund can be a great feeling. For many people, it's the biggest check they receive all year. In fact, about 3 in 4 Americans receive a tax refund each year, with the average federal tax refund being $$3,167 in 2023. While it’s exciting to get a tax refund, it's important to remember that the money you got back was yours all along and that a refund is simply you getting the money back that you loaned Uncle Sam last year (interest-free, might I add). It can be tempting to spend the money on something fun, but it can also be a great opportunity to use the money to move your financial situation forward and get one step closer to reaching your goals!

The first quarter is in the books, and it was an excellent one for stocks. The S&P 500 index rode a resilient U.S. economy, easing inflation, rising corporate profits, and anticipation of summertime rate cuts from the Federal Reserve (Fed) to solid gains in March, the fifth straight winning month, and the best first quarter since 2019.

History suggests staying the course. Since 1950, the S&P 500 has risen 93% of the time in the 12 months following a five-month streak, with an average gain of over 12%. And down years are rare after strong first quarters. So, while stocks are due for a pullback, as the choppy start to April suggests, it’s extremely difficult to sidestep a 5–10% decline. It’s tough to make a case for a big drop — one that might make sense to try to avoid — because of healthy market fundamentals.

Transitioning to retirement is a significant life event filled with a mix of emotions, ranging from excitement about newfound freedom to uncertainty about the future. As you approach this milestone, careful planning and thoughtful consideration is crucial to ensuring a smooth and fulfilling transition. From managing finances to reimagining daily routines, navigating this shift requires a holistic approach that encompasses not only the practical aspects of retirement but also the emotional and psychological adjustments that come with this new chapter in life.

Women play an increasingly influential role in shaping economies and driving change. As we embark on a journey to explore the intersection of women, wealth, and wisdom, we are presented with a profound opportunity to delve into the unique financial challenges, successes, and aspirations of women around the globe. Join us as we navigate through crucial discussions, insights, and empowerment strategies aimed at helping women secure their financial futures with wisdom and confidence.

Strong starts to years tend to signal more gains ahead, so this calm market may not precede a storm. In fact, when the S&P 500 has been up in January and February, it has gained an average of 11% over the rest of the year and has been higher in 26 out of 28 cases.

Many tax-saving opportunities go unnoticed simply because people are unaware of them, or they find it difficult to keep up with the latest deductions, credits, and exemptions due to changes in tax laws. To help with this, we have compiled a list of the most commonly overlooked tax deductions that we typically see and that can help you save money on your taxes.

Stocks are off to a solid start in 2024. January gains are particularly enjoyable because of the old adage from the Stock Trader’s Almanac, “As goes January, so goes the year.” Nearly 75 years of historical data shows that when the S&P 500 has risen in January, the average gain for the remainder of the year has been about 12%. This January, the S&P 500 was up 1.6%.