An estimated one in five Americans aged 65 and older were employed in 2023. This represents nearly a doubling of the share of those who were working 35 years ago. The number of older workers is not only increasing, but their earning power has also grown in recent decades. In 2022, the typical worker aged 65 or older earned $22 per hour. This is a significant increase from $13 per
Tax season can be a stressful time, especially for small business owners and self-employed individuals. With so many moving parts, it’s easy to overlook valuable tax deductions that could significantly reduce your tax liability. Fortunately, the IRS offers a range of deductions specifically tailored for business owners – and those deductions could mean serious savings. Whether you’re flying solo as a freelancer, running a startup, or managing a small team,
DOWNLOAD THE PDF Each Quarterly Newsletter we strive to focus on commenting on the previous quarter. However, after what has transpired the past 10 days in April it feels more pertinent to discuss what is going on right now, mixed in with some of what we saw during the first three months of 2025. Much has happened in April, and we don’t expect this to be the end of choppy
Before we begin to address the question of when to hire a financial advisor, it is essential to first understand what a financial advisor is and what their role entails. A financial advisor is a professional who helps people manage their financial situation and reach their financial goals. This involves analyzing their current financial status, identifying areas for improvement, and creating a personalized plan to achieve their objectives. There are
The first quarter of 2025 started off on a positive note, with most major markets posting gains. Leading the way were International Developed Stocks, up 6.20%, followed by Emerging Market Stocks at 2.93%, the U.S. Bond Market at 2.78%, and Global Real Estate at 1.37%. On the downside, the Global Bond Market (ex-U.S.) dipped slightly by -0.17%, and the U.S. Stock Market experienced the largest decline at -4.72%. The good
As part of the SECURE 2.0 Act, owners of 529 plan accounts can now make tax- and penalty-free rollovers to a beneficiary-owned Roth IRA retirement plan account. This change provides more flexibility to families who worry about having unused or leftover funds in their 529 plans. Before the SECURE 2.0 Act, if 529 plan account owners or beneficiaries withdrew funds for nonqualified education expenses, the earnings portion was subject to
The stock market is expected to be down another 2% today. Do these 4 things before you decide to buy or sell. I’m sure you’ve heard “Buy the dip” a million times in the past 5 years. As a wealth advisor, I know I have! Investors have become increasingly smart compared to their predecessors, and are looking for opportunities to win. With the market being down today you may have
There are several considerations and milestones that should be considered when planning for retirement. Here is a list of milestones with their significance based on your age and the suggested actions you should take in your retirement plan. Age 21 An employer-sponsored retirement plan cannot exclude an employee from participating after the employee turns 21years old (and completes the necessary service requirement). Age 50 You may begin making catch-up contributions up to $7,500 for
A study from the Department of Health and Human Services (HHS) indicates that approximately 49 percent of men and 64 percent of women who turn 65 today will require substantial long-term care at some point during their later years. Supplementing this information, the National Association of Insurance Commissioners (NAIC) reported that in 2022, traditional long-term care (LTC) policies provided coverage for around 6.1 million Americans. Additionally, according to the American
Early in my career as a financial advisor, clients would often ask me:“What number do I need to retire?” They believed that hitting a certain financial milestone was the key to freedom. And for a long time, I believed it too. I’d run the calculations, project the returns, and set the plan in motion to help them reach their number. But over the years, I’ve realized something crucial: A number