Re-evaluating Your Financial Health: Assessing and Improving Your Financial Well-being
Posted on December 4th
With the new year right around the corner, it's the perfect time to take stock of your financial health and make necessary adjustments to set yourself up for a successful year ahead. Re-evaluating your financial situation allows you to identify areas that need improvement, make informed decisions, and work towards achieving your financial goals.
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Investment Strategies for High Earners: How to Make Your Money Work Harder
Posted on November 11th
With the champagne problem of being a high earner and being more affluent, you have a unique opportunity to leverage your financial resources and make your money work harder for you. While earning a high income is undoubtedly a great achievement, it's equally important to maximize your wealth by implementing effective investment strategies. In this blog post, we'll explore some investment strategies tailored for those who are more affluent and that can help you optimize your financial growth and secure a prosperous future.
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Understanding Trusts: How They Benefit Your Estate Plan
Posted on October 2nd
Estate planning is a vital process that allows individuals to protect and manage their financial affairs while alive and distribute their assets according to their wishes after their passing. One effective tool commonly used in estate planning is trust. While trusts may seem complex at first, understanding their benefits and how they fit into your estate plan can provide invaluable peace of mind. Let us help you get started with understanding how trusts will benefit your estate plan.
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Financial Planning for Adults with Special Needs: What You Need to Know
Posted on September 4th
Financial planning is essential for individuals with special needs, as it plays a crucial role in ensuring their long-term financial security and overall well-being. Adults with special needs often require specific considerations and strategies to address their unique circumstances. Let’s explore the key aspects of financial planning for adults with special needs, covering important topics such as government benefits, special needs trusts, guardianship, and healthcare planning.
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Saving for the Future: How to Start Investing as a Student
Posted on August 1st
When it comes to financial planning, the earlier you start, the better. As a student, investing typically isn’t the first thing on your mind. However, this is a great time to start building a solid foundation for your financial future. By starting to invest at a young age, you can harness the power of compounding interest and set yourself up for long-term success. In this blog post, we'll explore some valuable tips to help you get started on your investment journey as a student.
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Maximizing Employer Retirement Benefits: How to Make the Most of Your 401(k) in Your 20s
Posted on July 1st
Retirement may seem like a distant milestone when you're in your 20s, but taking advantage of your employer's retirement benefits early on can set you on a path towards financial security and freedom. You hear it time and time again, but the earlier you start, the more your money may be able to grow over time. This could mean that you set yourself up for financial freedom sooner. It could also mean that you may have the chance to leave money behind for family or charitable organizations if that is something you aspire to do. One of the most valuable retirement benefits offered by many employers is the 401(k) plan. We’re exploring how you can maximize your employer retirement benefits and make the most of your 401(k) in your 20s.
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Navigating The Complexities of Personal Finances: How a Financial Planner Can Help
Posted on June 1st
When it comes to managing your finances, it can be overwhelming to know where to start. With so many options and decisions to make, it's easy to feel lost or uncertain about how to make the best choices for your financial future. That's where we can come in to help. By working with a financial planner, you can create a customized financial plan that aligns your actions with your goals and helps you achieve financial success.
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Risk Management for Small Business Owners: Protecting Your Finances from Unforeseen Events
Posted on May 5th
As a small business owner, it's crucial to think about risk management and protecting your finances from unforeseen events. From natural disasters to cyber attacks, there are many threats that can jeopardize your business's financial stability. Here are some tips for protecting your finances and managing risk.
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Navigating the World of Retirement Accounts: A Guide for 30-Somethings
Posted on April 13th
As a 30-something, retirement might seem like a distant goal, but it's never too early to start planning for your future. One of the most important things you can do is to start saving for retirement now, and one of the best ways to do that is by opening a retirement account. But with so many different types of retirement accounts available, it can be overwhelming to know where to start. In this guide, we'll explore the different types of retirement accounts and how to navigate them as a 30-something.
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Special Needs Planning for Single Parents: How to Navigate the System
Posted on March 11th
Being a single parent is challenging, but it becomes even more so when you have a child with special needs. Along with the emotional and practical responsibilities, single parents of children with special needs often face financial challenges that require extra attention and planning.
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Retirement
Posted on February 14th
Congratulations! You’ve made it to retirement, a time that probably seemed so far off for a while and has finally arrived. You have worked hard for this and we hope you are able to enjoy it. Often, when people finally get to retirement, they don’t know what’s next and it can be a season that brings anxiety.
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Pre-retirement
Posted on January 10th
When you think of retirement, if you have even thought about it at all, it might seem like this daunting, unattainable thing that only exists in dreams. BUT… in reality it's not as daunting as you might think.
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Planning for Death vs. When Disaster Strikes
Posted on November 3rd
Usually, it takes a loved one needing support and care that they didn’t previously need to get someone to start thinking about your own healthcare costs and how to plan for them. Although overwhelming to think about at times, it’s necessary to plan ahead so that you get the care you might need one day. You don’t want to be caught empty-handed if a situation arises where you need care and can’t pay for it.
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Do I Need an Estate Plan?
Posted on October 5th
When you hear “estate plan,” your first reaction might be to push it off until you’re old and grey or when your kids are older. While it’s understandable that you think you can put this off, it’s actually something that should be a priority. Your estate plan “allows you to get your affairs in order and ensure that everything you own with value attached to it goes where you want it to without complication” (New York Life).
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5 Tips for Buying Life Insurance
Posted on September 1st
We can never prepare or plan for all of the twists and turns in life. But we can make sure that if the unexpected happens, you and your family can be provided for. Buying life insurance can help protect your family if something devastating is to happen. It can also be helpful in leaving your family with the same lifestyle as they deal with the loss of a loved one. It can help support the payment of debts, living expenses, medical expenses and final expenses.
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How to Financially Prep for Back-to-School
Posted on July 1st
Summer has come and gone, and the back-to-school posters are everywhere we look! Whether you’re sending kids off to college for the first time or maybe your children are walking down the halls of middle school, preparing your finances is a suggestion we make to all our clients. You never know what unexpected expenses might hit during this time of year and it’s better to be prepared when it comes to your kids’ education.
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Are You on Track to Reach Your EOY Financial Goals?
Posted on June 1st
Whether we want to believe it or not, we’re almost halfway through the year and fall is right around the corner. Regardless of a busy summer schedule or slower pace, now is the perfect time to do a mid-year financial check-in to see how everything is lining up with your end of year goals.
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Retirement Options for Small Business Owners
Posted on May 1st
Having the right retirement plan as a small business owner is crucial for several reasons. First, knowing your financial future is secure will allow you to focus more freely on your business. Second, offering an attractive retirement plan to your employees will not only help you hire the right people for your team, but also help to keep them.
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Financial Literacy For Small Business Owners
Posted on April 1st
Every small business owner knows that it’s no easy feat to take on the role of CEO. While you may have started it because you want to pursue one specific passion, there are many more duties that follow this title, such as financial literacy. As a small business owner, you must know how to properly manage your business’ finances in order for your business to succeed. Luckily, you don’t need a background in finance to do so. We’re going to share five financial skills that will help you succeed as a small business owner.
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An Inside Look At Special Needs Financial Planning
Posted on March 1st
Mark and Austin Stratton are the parents of four awesome kids: Adaline, Maddox, Brylee, and Teagan. Their two oldest are typically developing and the two youngest have Cerebral Palsy, receiving therapy weekly and need special education. Mark and Austin have very specific goals they're working to achieve for their family, such as protecting government benefits, treating all their children equitably, and leaving money to Brylee and Teagan while preserving their public benefits.
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Questions to Ask Your Financial Planner if You Have a Loved One With Special Needs
Posted on February 24th
When you first hear the news that someone you love has special needs, it feels like your world completely stops. There’s so much information to download all at once, from how to care for them to what next steps to take. Thinking about how to financially be set up for success can seem daunting. Mark and his wife, Austin, walked through this experience with both their youngest daughters and he now meets his clients from both a personal and professional perspective.
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Budgeting for Fluctuating Incomes
Posted on February 10th
For those who have the freedom to run their own schedules and work for themselves, they also have the pressure of not knowing what their income will be each month. While running your own company can be glamorized these days, there’s a lot to consider before you take on the title of CEO.
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New Year, New Goals
Posted on December 6th
There’s nothing quite like the fresh start of a new year! While you can always start something at any time, the momentum that comes with the new year is something we should all take advantage of. We encourage you to set goals for 2022 that revolve around your finances and have a few goals that you can use as a starting place if you don’t know where to start.
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Are You on the Naughty or Nice List? Financial Planning Tips for the Holidays
Posted on December 6th
Overspending this time of year is incredibly easy. There are countless sales, family members to buy gifts for and shiny new products tempting us to swipe the credit card. What if we told you that you could still enjoy the holidays without breaking the bank? Here are a few tips when it comes to financial planning this holiday season...
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The Ultimate Thanksgiving Conversation Starters
Posted on November 3rd
Having family gather around the table to enjoy delicious food is one of the best - if not the best - parts of Thanksgiving. However, after such a crazy 1.5 years, you never know how someone feels about a certain topic or what is going to set someone off on a tangent. No one wants to stir the pot on Thanksgiving (unless it’s full of gravy!), so we decided to share several safe conversation starters for this Thanksgiving meal.
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Special Needs Financial Planning: Commonly Asked Questions
Posted on October 5th
Planning for the future when you have loved ones with special needs can feel overwhelming and scary. Mark Stratton, LUTCF®, CFP®, ChSNC®, dad of four, has significant experience in this area with both a personal and a professional perspective. Whether you’ve worked with Mark before or you happened upon this blog by search, it’s important to know his heart for others is to instil a sense of hope for the future.
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4 Tax Pitfalls to Avoid in 2021
Posted on September 1st
Before we know it, tax season will be upon us. COVID-19 has caused all types of tragedy and has impacted the world in many ways; it’s also affected many facets of the US economy and driven deficit spending by the U.S. Government. In turn, this will impact our taxes and the planning strategies we implement.
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Starting a College Fund? 6 Ways to Start
Posted on July 20th
When it comes to starting a college fund, the options can seem endless and overwhelming. There are plenty of varying choices available and it’s important to research your possibilities before picking a route. See below for different options that might be most suitable for you and your family when starting a college fund.
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ABLE Accounts for Loved Ones with Disabilities
Posted on February 2nd
Families with special needs children have a new tax-deferred savings option. The ABLE account, also called a 529A savings account, is patterned after the popular 529 savings plan, created to help parents save for a child’s higher education. Like 529 plans, ABLE accounts are run by states rather than the federal government. These plans emerged after the passage of the Achieving a Better Life Experience (ABLE) Act in 2014.
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The Great Spending Balance
Posted on December 4th
Your financial life is a balancing act, strung between living in the present and preparing for the future. Saving for retirement may be a focus, but it could feel like you’re missing out living in the present. There are three key areas, however, where saving big and investing may make a substantial difference in both the present and future alike: your home, your vehicle, and your travel plans.
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New York Life's Mark Stratton Earns ChSNC® Designation
Posted on November 20th
Mark Stratton, an agent for the New York Life Insurance Company, has been designated a Chartered Special Needs Consultant® (ChSNC®) by The American College of Financial Services, Michael Scovel of the Dallas Fort Worth General Office announced today.
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What Is Earnings Season?
Posted on November 12th
Every few months, you may hear the phrase “we’re entering earnings season” as you read financial news.
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Will Political Changes Affect the Economy?
Posted on October 10th
With all of the storm and stress of the year 2020, you’d be forgiven if you momentarily forgot that we’re due for another national election in November.
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CARES Act Modification Allows More Retirement Savings Access
Posted on September 10th
Americans who have been adversely affected by the COVID-19 pandemic may now be able to access retirement accounts to help cover daily expenses, penalty-free.
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Don’t Let the Headlines Get You Down
Posted on August 10th
Despite July’s warmer temperatures, the recent impact of COVID-19 can make the news feel a bit depressing. These days, it can seem like there is an awful lot to worry about.
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Tips for Staying Active in Retirement
Posted on July 11th
When most people think about retirement, they envision a life of freedom. From traveling the world to spending time with grandchildren, everyone’s goals for their golden years are different.
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4 Things Retirees Can Learn About Retirement from Peyton Manning
Posted on June 12th
After 18 years in the National Football League, the Denver Broncos’ star quarterback, Peyton Manning, is calling it quits after a very successful career. We wish him well and hope that he’s made the preparations needed to enjoy a long, comfortable retirement. If he has, he’ll be in the minority. Research shows that an estimated 60% of retired NFL players go broke within five years of retirement; nearly 16% declare bankruptcy.
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Are You Prepared For Mental Decline?
Posted on May 12th
Joe got excited about Apple and ordered his advisor to buy 100 shares; his advisor worried about the out-of-character behavior but wasn’t authorized to speak to Joe’s family. Sally thought she had won the lottery and wired $50,000 to a scammer; her bank questioned the large withdrawal, but Sally approved it anyway. Dennis gave his caregiver cash and expensive gifts that totaled over $100,000, leaving his family with no way to get the money back.
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Do You Understand Your Emotions About Money?
Posted on April 4th
If you’ve ever felt a rush of excitement at making a big purchase or experienced feelings of shame at making a financial mistake, you know that our relationship with money isn’t completely rational. For most people, money comes with a lot of emotional and psychological baggage that affects the decisions we make.
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How Do You Reach Your 2020 Financial Resolutions?
Posted on March 9th
The start of the new year always seems to represent new beginnings. It’s a time to remake our priorities and to reimagine our futures. Although the calendar may not recognize its significance, our humanity marks the passing of the old year with poignancy.
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