Our Insights

The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels. Individual Retirement Accounts (IRAs) IRA contribution limits are up $500 in 2023 to $6,500. Catch-up contributions for those over age 50 remain at $1,000, bringing the total limit to $7,500. Roth IRAs The income phase-out range for Roth IRA contributions increases to $138,000-$153,000 for single filers and heads of household, a

As the holiday season draws near, most people are thinking about their finances over the next few months and budgeting for how they can celebrate the most wonderful time of the year. Which is perfect timing because October is National Financial Planning Month! Let’s use this month to celebrate the importance of proper financial planning and share some tips and tricks on how to get your financial planning in order. Create a Budget The first step in understanding and taking

Markets Have Challenging Third Quarter Global equity markets had a poor third quarter with all major markets in the red, leading to overall declines not seen in decades. Further, entering the fourth quarter of 2022, the DJIA and S&P 500 are both at their lowest since November 2020, while NASDAQ is at its lowest since the end of July 2020. For the third quarter of 2022: The DJIA dropped 6.7%; The S&P 500 fell 5.3%; NASDAQ lost 4.1%; and The

Life insurance is one of those financial products that we put off thinking about. No one wants to talk about the eventuality of passing away and we especially don’t like to talk about what would happen if we passed away suddenly. However, life insurance is an important part of any financial and protection strategy. For National Life Insurance Awareness Month, we wanted to share some helpful information about life insurance, including what it is, its different types, and how it

If you have a child, you may want to read the recent analysis from the Brookings Institute which details just how expensive raising kids can be. It’s downright frightening. According to the Brookings Institute analysis, the average amount a married, middle-income couple with two children would spend to raise through age 17 is estimated to be $310,605. That’s over $18,000 a year, a 9% increase from the previous estimate due to inflation. Again, that $18,000 per year is per child.

August is National “Make a Will” Month, and it’s a great annual reminder to update your will if needed and create a will if you don’t have one already. A will is an important estate-planning document that can help you transfer your assets with ease. Having a proper will can make the difference between a smooth transfer of assets and a probate nightmare. Let’s learn more about what wills are, why you need one, and some tips on how to

Markets Stumble In The Second Quarter Global equity markets had a disappointing second quarter with all major global equity markets in the red, leading to overall market declines not seen in decades. To underscore how bleak it has been so far in 2022, consider that the S&P 500 recorded its worst first six months in 52 years and the Dow Jones Industrial Average recorded its worst first six months since 1962. For the second quarter of 2022: The DJIA dropped