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The vast majority of Americans need long-term care. According to the U.S. Department of Health and Human Services, 70% of people over age 65 may need some long-term care during their lives.1 Unfortunately, planning for long-term care...

A solid estate plan should not only provide for your assets after you pass, but also plan for your long-term care while you're alive. With the median cost of a long-term care facility approaching $8,000 per month, paying for long-term...

Now is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial...

If your medical records are scattered across a mishmash of different providers, cities, or even states, you may have trouble creating a comprehensive medical history when you need one. What steps can you take now to organize your...

Obtaining a life insurance policy is part of being an adult. But it’s also something that you can easily neglect, especially if you obtained it earlier in adulthood. While you may have been diligent in securing your life...

Retirement is an exciting time. You have worked hard all of your life and now get to take advantage of the fruits of that hard labor. While retirement is the perfect time to tackle to-do lists and all of the things you have always...

Medicare policies are the health insurance benefits you have worked toward throughout your life, and having the proper policy is critical as you are likely to face more health problems as you age. While these policies can provide you...

Matching your tolerance for risk with your investment objectives Everyone wants a comfortable retirement, but the road you take there will depend on your specific situation. When you invest, you assume a certain level of risk (but like...

With the cost of college expensive for many, receiving a tax break from the IRS for college-related expenses may be appealing. 529 Plans and Coverdell Education Savings Accounts (ESAs) offer tax-advantaged withdrawals when used for...

Today, many individuals are finding it necessary to help elderly parents or relatives manage their personal finances. One area of particular concern is property management. This issue may arise when seniors reach their late seventies...

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you...

Disability insurance pays benefits when you are unable to earn a living because you are sick or injured. Most disability policies pay you a benefit that replaces a percentage of your earned income when you can't work.Why would you need...

Almost half of all adults are part of the "sandwich generation." These are adults in their 40s and 50s who are helping support or care for a parent while also supporting or caring for a child.1 Being caught between two generations of...

When it comes to investing, having fewer investments might help streamline your portfolio to manage stress better. Here are some benefits of a simple portfolio and some ways to help you create one.The Benefits of SimplicityUnless you...

Social isolation makes people more susceptible to illness and death.1 While retirement is a time for relaxation and enjoyment from a lifetime of work, it may lead to a lack of purpose if you have depended on work for...

Those who receive an inheritance with the passing of a loved one are potentially given the gift of financial freedom if they choose to manage the wealth carefully. Did you know that only about one-third of adults have a prepared will,...

Investing in life insurance may not be the first option that comes to mind for people when deciding where to put their money. However, it is one that, for some people, could be a beneficial strategy for diversifying their portfolio as...

Being a nurse comes with many challenges, both in their profession and everyday life. Nurses should consider their need for insurance a bit more carefully than some other professions. In today's society, lawsuits are prevalent, and...

Did you know that you can gift a new or existing life insurance policy to your favorite charity? When properly designed, a charitable life insurance program may improve your overall financial situation and offer tax benefits, all while...

It wasn’t long ago when an individual went to college, got an education, and embarked on one career that usually lasted a lifetime. Many companies provided on-the-job training, and little emphasis was put on the idea of going...

Your financial professional can help you understand your 401(k) rollover optionsWith companies downsizing to stay in business and corporate takeovers occurring almost every other day, the only thing certain in anyone’s career...

Those that choose to invest in the education of a family member, friend or acquaintance are investing not only in that individual’s future, but also the future of society. It is an act of generosity, forward-thinking, and love....

Small businesses may often find themselves struggling, and there are many situations in which business owners may find themselves weathering a storm and hoping to make it through. While the strength and fortitude of those who run small...

Setting healthy financial goals is critical. Even more important is staying committed to those financial goals.Keeping yourself committed to your goals may be difficult, especially when times may be financially tough. But by staying on...

Federal employees have different benefits than other workers, including an annuity (or pension) and the Thrift Savings Plan program. However, navigating these benefits may sometimes be a challenge. What should federal government...

After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to...

Life Insurance for the Self-EmployedIf you're like most people, you bought life insurance to provide for your loved ones in the event of your death. But because you're self-employed, you may have an even greater need for life...

Tax time is the busiest time of the year for most accountants, but as a client, you can take steps to make this time of year slightly easier on your CPA. When your accountant is less stressed, they have more energy to give your tax...

Thoughts from a financial professionalMost often, the first question a prospective employee will ask is about your company’s benefit program. And in my experience, the two most often-asked questions are about health insurance and...

In a rush to file for Social Security benefits at age 62? Many people are - but slow down and do the math first.When it comes to claiming Social Security retirement benefits, you may want to consider waiting to start benefits when...

If you’ve made it to your closing day, you’re well aware of how many speed bumps there are in the home buying process. Although we’re told to expect the unexpected, there are a few things that you can do as a buyer to...

Heading to your first meeting with a new financial professional may be a lot like going on a blind date. Can you have anything in common? Can you click? Can you trust this other person with what's most important to you? A strong...

If you're thinking about working in retirement, you must consider a few things before making your decision. As you get older, the question of when to collect Social Security retirement benefits and how your monthly payment may be...

One of the more important—and hopefully enjoyable—events you will face in life is retirement. After spending many years building your career, you have likely accumulated a comfortable nest egg. If you have reached a point...

You're ready to buy an insurance policy, but you feel a bit uneasy embarking into the insurance world. After all, the language can be technical, and you're wary of insurance agents throwing sales pitches at you. Whether you're buying...

Imagine that your son or daughter is in a serious car accident. Or that a good friend is getting chemo treatment for cancer. A common denominator? Each may desperately need blood.In fact, every two seconds, someone in the United States...

Tax time can be stressful, and often means a lot of time and paperwork, but you can reduce some of the stress by going paperless with your tax documents. You can receive tax documents (and many additional mailings) electronically by...

In the U.S., the third Monday of each February marks President's Day—a holiday that's often marked with mattress and furniture sales and discounts on new cars. But aside from these budget-friendly purchasing opportunities, there...

Valentine's Day is one of the biggest holidays for romance and for lavishing gifts on that special someone in your life. While flowers and chocolates may be the most common gifts exchanged on that day, why not consider a gift that may...

Strategic financial planning is important for everyone but especially for high-income earners that have their compensation tied directly to the success of the business. Executives and entrepreneurs both rely on accessing their wealth...

Do you wish that there was more time in a day? Do you want to have time to drink a cup of coffee in the morning, or get to the gym before or after work? Well, we can’t change how much time there is each day, but we can help you manage...

“Keep it Simple, Stupid” is a great approach to organizing your finances Some folks think financial planning is very difficult. While certain aspects are hard, such as constructing the right asset allocation to meet your...

If you are newly married with no children, you may have a special opportunity to build your savings and investments. Financially, a married couple can be more than the sum of its parts. One spouse can work steadily, while the other...

Retirement is a major transition point – as you go from saver to spenderIt's common for people who are retiring to set their retirement date in either the springtime or the early summer. If you happen to be one of those lucky...

As the year comes to a close, probably the last thing on your mind is filing your taxes in spring. But if you start assembling the necessary documents and information now, you’ll experience less stress and be in a far better...

New Year’s resolutions tend to come with a lot of hype, but sometimes little return. Our lives get busier, and the promises we made to ourselves at the beginning of the year can lose their luster. But putting that energy into...

A resolution for every month to help you work towards financial independenceCleaning up personal finances remains one of the top resolutions every New Year. But we all know what happens to most such self-promises, so here’s a...

Along with snowmen, skating, and sledding, the winter months also bring the possibility of freezing rain, strong wind, ice, and blizzard conditions. When such weather is imminent, the National Weather Service may issue winter storm...

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount...

Volunteering as a family is a great way to spend some quality time together and help give back to those in need or assist your local community. No matter the age of your family members, there are plenty of volunteer opportunities to...

If you want to minimize your annual tax liability, optimize your deductions, and keep as much of your hard-earned money as you can, smart tax planning and good professional advice is essential.This is true whether your basic...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...

You’re an entrepreneur and you’re not looking back. You’ve opened your own business, whether alone or with partners, and you’ve achieved success. Now you’re thinking about retirement, not just for you, but...

It’s nearly that time of year again: turning the clocks back an hour and experiencing less sunlight. While it seems like there’s nothing you can do about this natural, yearly occurrence, you can! Don’t let the darker...

Retirement is an exciting time. You have worked hard all of your life and now get to take advantage of the fruits of that hard labor. While retirement is the perfect time to tackle to-do lists and all of the things you have always...

Wise investors alter their approaches as market cycles shift, from bull to bear to something in between. A consistent strategy can be far more risky than one that involves tactical shifts according to the season.Let’s say you...

On August 24, 2022, just a few days before federal student loan repayment was set to resume, President Biden announced a plan for additional student loan debt relief.Federal student loan repayment was originally halted in March 2020 at...

The thought of putting thousands of dollars into a down payment for a home might bring out a lot of emotions: fear, dread, anxiety. Does any of that ring a bell?Saving for a down payment is no easy task, but it is totally achievable...

It is important to understand basic financial concepts in today's economic climate—from compound interest to the difference between a tax credit and a tax deduction. Unfortunately, 65% of Americans are financially illiterate and...

What is credit?When you say you want credit, you are probably asking for payment terms on a purchase. You are seeking to purchase goods or services today and forego all or a portion of the payment until a later date. You may or may not...

Alzheimer’s disease, the most common form of dementia, is generally diagnosed in people over 65 years old, causing memory loss, changes in mood and behavior, and the gradual inability to maintain independence in daily living...

If the thought of reviewing your finances with the help of a financial professional strikes more fear into your heart than giving a public speech, you are not alone—two in every three Americans report regularly feeling stressed...

Are You Maximizing 401(k) Contributions? The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a...

The 20 percent down payment on a conventional loan is one of those “everybody knows” items, as in “everybody knows you have to put 20 percent down.” In reality, however, there are a variety of down payment...

Women have special concerns about financial security that financial professionals might need to address. For one thing, they tend to live longer than men, so they may worry about paying for an extended old age. For another, women of all...

Many programs and resources are available from your community to help you live independently at home. Some of these programs are funded either by your state government or by the federal government. Others are privately funded or are...

The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks. Additional funding is...

Anyone who has purchased a home or is currently looking to buy can tell you that credit score is one of the most important factors in securing a loan. It can affect a lot of other areas of your life, too, but it’s particularly important...

At some point in a child's development, all parents wonder: how can I best teach my child the value of money? Parents who grew up in more modest circumstances than their own children can struggle to balance the desire to provide...

One of the challenges of investing during retirement is providing for annual income while balancing that need with other considerations, such as liquidity, how long you need your funds to last, your risk tolerance, and anticipated...

Disabilities may make it challenging to secure a job or stay financially stable. Here are some important reasons adults with disabilities may consider pursuing financial freedom and the potential benefits of taking charge of your finances.

When low-cal, high-protein ice cream brands such as Halo Top and Arctic Zero hit the market, sweet-toothed shoppers rejoiced—finally a way to eat the entire pint of ice cream and feel no guilt!

There are countless benefits of charitable giving. Through generous donations, you can make a difference in your community and society. You may also feel happier and even save on your taxes. Here are some key things to need to know.

The "Sandwich Generation" wakes up every morning with a lot on their plates. They not only have to provide support for themselves and their own children but also help to take care of aging parents.

Many investors still adhere to the old adage—"sell in May and go away"—while others remain fully invested even as the summer heat waves begin. What goes unsaid is that if your asset allocation accurately reflects your risk...

Alzheimer’s disease, the most common form of dementia, is generally diagnosed in people over 65 years old, causing memory loss, changes in mood and behavior, and the gradual inability to maintain independence in daily living...

If you wonder whether it’s too late to start saving for your child’s college education—the answer is no. Whether your child is a newborn or already starting college, a 529 account may provide some tax benefits. Here...

Suppose you have read or watched a story about converting an IRA to a Roth IRA after age 60. In that case, you may have seen this strategy portrayed negatively or only highlighting the benefits. This article will cover myths about...

While it may seem that fishing and investing are completely unrelated, believe it or not, there are some characteristics that make a person good at fishing that can also transfer to investing. Here are six fishing lessons you can apply...

Federal employees have different benefits than other workers, including an annuity (or pension) and the Thrift Savings Plan program. However, navigating these benefits may sometimes be a challenge. What should federal government...

Preparing for retirement may be an exciting and stressful time. While the idea of leaving the workforce and enjoying more leisure time may be appealing, the prospect of no longer receiving a regular paycheck might be intimidating for...

Heading to your first meeting with a new financial professional may be a lot like going on a blind date. Can you have anything in common? Can you click? Can you trust this other person with what's most important to you? A strong...

Heading to your first meeting with a new financial professional may be a lot like going on a blind date. Can you have anything in common? Can you click? Can you trust this other person with what's most important to you? A strong...

April brings more than possible rain showers. It also marks Financial Literacy Month in the U.S. Whether you’re interested in a quick refresher or seeking to learn something new, it may be worth the effort to brush up on some...

When you die, what will happen to your retirement plan benefits? In general, your retirement plan benefits pass to the beneficiaries you designate on the plan beneficiary designation form. Your benefits will generally be subject to...

Too often during uncertain times, we inadvertently compare ourselves to the people around us – and that may lead us to make financial mistakes. In his book Predictably Irrational: The Hidden Forces That Shape Our Decisions, Dan...

Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2021. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2021 ($7,000 if you were...

A whopping 70 percent of adults in their 20s through 50s fear that the Social Security program might be reduced or eliminated by the time they retire and don’t know what to expect.1  It's important for all adults to be...

Parenthood is full of highs and lows. If you have children, you probably know firsthand what it feels like to be in debt. Because you know how debt feels and you love your children, you probably want to step in and relieve them of...

Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key...

While most people find the notion of creating a budget about as appealing as cleaning out closets, most would agree that the result—a well-crafted and useful budget—is worth the work   Two financial...

The New Year is the time to make resolutions, and for those who are retired, those resolutions may look a little different than they did in past years. Whether you are looking to improve your health, or your finances, below are a few...

As we approach the end of 2021, now might be a good time to take a closer look at a few developments surrounding required minimum distributions (RMDs). What Are RMDs? Once you reach age 72, you are required to take minimum...

LPL Research Outlook 2022: Passing the Baton is designed to help you navigate the risks and opportunities over the rest of 2021 and beyond.

As a group, physicians are among the highest-earning professionals out there—and this specialized and life-saving career comes with some specific financial needs. Because of this, physicians should seek out a financial...

With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The tax benefits associated with...

It seems that state and federal laws governing estate planning may be running behind the growing trend of couples living together outside of marriage. For these unmarried partners, more creative estate planning strategies could be the...

It’s hard to believe we are already approaching the end of another year, and holiday season will soon be here. Since holiday spending doesn’t include just gifting, it’s essential to set your budget now. You may...

When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan. The Internal Revenue Service...

Whether you're launching a new business, looking for a second opinion on your retirement plan, or just need some extra help with your taxes, you may be wondering whether it's time to contact an accountant or financial professional....

With the holiday season just around the corner, you may be ready to get a jump on your holiday shopping. Unfortunately, for many, holiday shopping easily gets out of control. When you are in the giving spirit, you may find yourself...

Today’s women are more educated and have more significant job opportunities compared to previous generations. Despite more women in the workforce than ever before, women still experience considerable pay disparity compared to...

Constitutions don't just set down fundamental rules and processes for countries; they can also set rules down for families—especially families with businesses. Having certain processes and governing principles put to writing can...

For some, 2021 has flown by—and as we approach the last quarter of the year, it's a good time to begin planning for the next one. Year-end planning is especially important for retirees and those hoping to retire in 2021 or 2022....

Save More Every Month with These Smart Strategies Saving money can be difficult, even when you stick to a budget. It’s easy to feel like you’re not getting anywhere. You wish you could save more, but where do you start? At...

Have you ever wondered if the money in your investment accounts will last through retirement? Here are some steps that go beyond the basics of using tax-advantaged funds and making regular contributions. Review your portfolio - Conduct...

Many self-improvement goals focus on stability and personal growth — and financial goals are often no different. From buying your first home to saving for retirement, planning your finances can also help you work toward your...