Advisor Helps Client Slash Taxes on Inherited Assets

From: rethinking65.com

After spotting red flags on a prior-year tax return, the advisor, an enrolled agent, dug deeper to find more tax-efficient solutions.

Like most financial advisors, Seth Thompson of Forward Financial Planning LLC prefers not to prepare tax returns for his clients. But by providing complimentary reviews of tax returns to onboarding and existing clients, he has uncovered tax issues missed by their outside…

Daniel Crosby: Can Money Really Buy Happiness?

From: www.morningstar.com

On The LongView podcast, Daniel Crosby, author and financial psychologist, discusses his new book on money and meaning, plus the challenges of spending in retirement.

Daniel Crosby is the author of a new book called The Soul of Wealth: 50 Reflections on Money and Meaning. Daniel is the chief behavioral officer at Orion Advisor Solutions. In addition to The Soul of Money, Daniel has…

Is Medicare mandatory?

From: www.medicalnewstoday.com

Medicare is not mandatory, but opting out means losing
Social Security benefits and facing a penalty for late enrollment. People with employer-based insurance may be able to delay enrollment in Medicare without penalties.

Medicare is a federal benefit that people contribute toward through taxes while they are working. A person is eligible to enroll in Medicare when they are 65 years old or have certain disabilities or health conditions.

Original…

Year-End Financial Moves for Homeowners

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

As 2024 comes to a close, it’s the perfect time for homeowners to make strategic financial moves to maximize savings and prepare for the coming year. Here are some year-end financial tips to consider:

Maximize Your Mortgage Interest Deduction
If you’re a homeowner with a mortgage, you likely know that the interest you pay on your home loan is tax-deductible….

By Ted James

Entering the empty nest phase is a pivotal moment that invites self-discovery and the pursuit of new passions. As children venture into their own lives, parents are presented with the opportunity to redefine their own paths. This period can be a time of personal growth, where one can explore interests that may have been set aside. Whether it’s through education, volunteering, or social engagement, the empty nest phase offers a chance to…

Get Ahead of Giving Season: The Benefits of Early Planning with Donor-Advised Funds

From: tifingive.com

The final months of the year signal a surge in charitable giving. Advisors and clients often find themselves caught in a last-minute Giving Season scramble to maximize tax benefits and finalize donation plans by year-end. By encouraging clients to start planning now, financial advisors can help them reduce stress and leverage the advantages of donor-advised funds…

Don’t Be Afraid of Preparing for Retirement

From: wharton.upenn.edu

Wharton’s Stephanie Creary talks with experts from Harvard and Boston University about how to retire successfully and create a life that works for you.

Retirement doesn’t have to be scary.

After investing years of mental, physical, and emotional energy into their work, many employees fear the prospect of retirement. They worry about isolation, a lack of structure, a lack of purpose, even a loss…

6 Lessons From My 6-Week Mini-Retirement

From: www.morningstar.com

Some insights on life and work after taking time off.

I’m not old enough to retire, but I’m definitely old enough to appreciate a change of scenery every once in a while. Thus, I’m fortunate to work for a company that gives employees the opportunity to take a six-week (paid!) sabbatical once every four years. People at Morningstar typically use this time to travel,…

What is an important term to know in financial services? Fiduciary.

Watch one advisor talk about how independent Registered Investment Advisors are obligated to act in the best interest of their clients – continuously, comprehensively, completely.