Author: rachel

Instilling Financial Values in Your Family

rachel

Over the next two decades, more than 84 trillion dollars will change hands in what has become known as the “great wealth transfer.” More than $72 trillion of that will pass from older generations to their heirs, while nearly $12 trillion will be donated to charities. This shift in multigenerational wealth represents a huge opportunity for future generations. To ensure a smooth transition of wealth, it is important to consider the values you wish to impart that can help prepare…
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What You Should Know About Fees

rachel

Financial advisors and planners help you manage your investments and work toward your financial goals, such as estate and retirement planning. In return for their expertise and guidance, some advisors will charge a flat fee, while others work on commission. Some may even do both. But how are those fees determined and who pays for them? Whether you’re already working with an advisor or just starting to explore your options, make sure you understand their fee structures so that you…
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How Does the New RMD Rule Affect Retirees?

rachel

There’s good news for your retirement plan! Starting this year, the age at which you must start taking required minimum distributions (RMDs) from your tax-deferred retirement accounts has increased from 72 to 73 years old. In 2033, it will increase again to age 75. This new rule was passed into law by Congress at the end of 2022 as part of the SECURE Act 2.0. The Act implements several changes to retirement planning for individuals and employers alike, including increased…
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3 Small Moves that Make a Big Difference in Retirement

rachel

Saving for retirement doesn’t happen overnight. It’s an ongoing process that requires monitoring and tweaking your plan over many years to help ensure you have enough to meet your retirement goals. Sometimes relatively small adjustments to your plan can make a huge impact on your ability to save, such as choosing to invest in low-cost index funds or increasing retirement savings by just 1% per year. Here’s a closer look at three savings-boosting strategies you can implement. Make a Minor…
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Finding the Ideal Place to Live in Retirement

rachel

Planning for retirement is rife with big questions — not just how you want to spend your golden years, but where? For some, retirement offers the opportunity to spend more time with family; for others, it’s the chance to venture into a different climate. For the most part, seniors are planning to spend their retirement near the homes they’ve always known. A 2021 study by the AARP showed that approximately 75% of people over 50 plan to stay in their…
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Active vs. Passive Investing: Which Is Best?

rachel

Investors and advisors alike have long debated the merits of active versus passive investing. As the markets have taken a downward turn over the last year in response to rising interest rates, this age-old question has emerged again. Passive investing seeks to generate average market returns and involves hanging on to investments over a long period of time in order to ride out the market’s ups and downs. Active investing seeks to outperform the market — a trait that many…
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Investing During a Bear Market

rachel

Lately, financial pundits seem to be constantly warning that a bear market is coming, arguing over whether one has begun or predicting when one will end. It’s less common for them to actually define one. From their ominous tone, you can tell it’s less appealing than its counterpart, a bull market. But what is it exactly? How does it differ from other market fluctuations? And how long does one last? What is a bear market? A bear market is an…
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The Benefits of Donor-Advised Funds

rachel

As tax planning season and end-of-year charitable giving begin, it’s a good time to consider the benefits of donor-advised funds. Charitable giving has many facets, most notably as an opportunity for you to support the causes and organizations that reflect your values. But giving is also a significant tax and financial planning opportunity, helping you increase your impact and potentially save on your taxes. What is a Donor-Advised Fund? Donor-advised funds offer similar benefits to a private charitable foundation; however,…
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How Diversifying Your Portfolio Can Help Mitigate Risk

rachel

Risk is an inherent part of investing. After all, no one can control the losses or gains of a particular asset, sector, or the market as a whole. But you can take steps to manage your risk by diversifying your portfolio. Here’s a look at what diversification is, why it matters, and how to do it. What is diversification? Diversification is a technique that can help reduces risk and volatility in your investment portfolio. The idea is to invest across…
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A Beginner’s Guide to Alternative Investments

rachel

Alternatives are investment options beyond the typical stocks, bonds and cash found in most portfolios. They can be tangible assets like precious metals, or they could be financial assets like private equity or hedge funds. Alternatives tend to be riskier than traditional assets, which means investors usually have to meet certain criteria to access them. Here’s a closer look at alternatives and some of the most common options available. What is an alternative investment? An alternative investment is a financial…
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