Advisors

Tom Merton | OJO Images | Getty Images With the election less than a week away, the phones are ringing off the hook for estate planning attorneys and accountants. That’s because wealthy families fear that an overhaul of the estate and gift tax exemption — the amount of assets they can transfer without a 40%

Your bank account balance doesn’t have to stop you from being able to hire a financial planner. towfiqu ahamed | iStock | Getty Images There’s a big misconception that financial planning is only for the wealthy. The truth, however, is that financial planning is a path for anyone to actually gain wealth. The objective of

House Ways and Means Committee ChairmanRep. Richard Neal, D-Mass., (left) and ranking member Kevin Brady, R-Texas. Chip Somodevilla | Getty Images News | Getty Images Bipartisanship is not what most of us would expect in a divisive election year. Yet that is what we saw when Democratic and Republican House members came together and introduced

krisanapong detraphiphat | Moment | Getty Images Health-care coverage and costs are top of mind in this election year, and one of the loudest arguments between Republicans and Democrats is the claim they will protect people with pre-existing medical conditions. What does this really mean and why is it so important for your personal finances?

SDI Productions | E+ | Getty Images Set aside your panic over post-election tax policy and focus on something you can control: your 2020 tax bill. It’s no secret that Democratic presidential candidate Joe Biden has an extensive list of tax proposals, including higher taxes on households with more than $400,000 in income and lowering

Former Vice President and presidential nominee Joe Biden gives remarks at UA Plumbers Local 27 Erie Training Center in Erie, PA on October 10, 2020. Demetrius Freeman | The Washington Post | Getty Images A “blue wave” of Democrat victories in elections next month could upend the normal incentives for tax planning this year. Typically,

Choreograph | iStock | Getty Images For the nation’s older cohort, the stakes can’t be higher when it comes to choosing health-care coverage. That’s partly because under Medicare — you’re eligible at age 65 — changing plans can be challenging in some circumstances and costly if you get your choices wrong. So whether you’re giving

Getty Images Under almost any circumstance, tapping your retirement plan savings for cash is a bad idea. Tax professionals and financial advisors will almost universally tell you to use all other sources of liquidity before you hit your tax-advantaged retirement accounts. “Certain IRAs and qualified plans are protected from creditors,” said Ryan Losi, a CPA

Daniel Balakov | E+ | Getty Images With billions of dollars flowing into sustainable investing strategies, it’s safe to say it’s no longer a fad. Investors are pouring cash into funds that use environmental, social and governance criteria to screen the companies they invest in. Even passive investors are jumping in: There were 534 sustainable

Getty Images It’s no secret that many people worry whether Social Security will be there for them when they retire. And recent headlines could be stoking those fears. Last week, the Social Security Administration announced the annual cost-of-living adjustment will be 1.3% in 2021. The change will amount to just $20 more per month for

Paul Bradbury | OJO Images | Getty Images As more Americans push for diversity, equality and inclusion in the world around them, financial advisors are finding ways to adapt. The Black Lives Matter movement and nationwide protests have changed the dynamic, yet many financial firms are still dominated by White males. In 2019, 77.7% of

Getty Images, Drazen_ This year may be like no other, but if you’re an employee who receives equity compensation, you can’t ignore the importance of year-end financial planning to get the most out of that benefit. The end of the year is a great time to review what you’ve received or vested during the year.

Mike Kemp | Blend Images | Getty Images Matt Becker opened his financial advisory practice, Mom and Dad Money, not long after he and his wife, Casey, had their first son, Aiden, and struggled with all the financial decisions new parents need to make. “I looked around and I didn’t see a lot of advisors

kate_sept2004 | E+ | Getty Images Young investors are more likely than older generations to seek out financial help from a computer than a human. In addition, the Covid-19 recession has led to more interest among younger people in getting financial advice. Financial advisors should take note. Millennials, a group spanning their mid-20s to late

Virojt Changyencham | Moment | Getty Images As of mid-September, there were 26.5 million Americans on some form of unemployment assistance.  Many families and individuals have been forced to deal with unexpected health costs and uncertain education and day care situations in their communities. Many Americans are facing a grave threat of financial insecurity, having

FatCamera | E+ | Getty Images You may have recently received a new disclosure form, as mandated by federal securities regulators, from your financial advisor. Or, maybe not. And from where some experts stand, that may not be a bad thing. While a broad swath of the nation’s broker-dealers and registered investment advisors — known

Getty Images It’s no secret that 2020 has been an unpredictable year. And that uncertainty can cloud the decisions we make, especially when it comes to money. Consequently, investors and their financial advisors need to be on their guard for clouded decision making that could lead to regrets later. “It’s possible that the times have

Cavan Images | Cavan | Getty Images Things may go green in four states this fall, as voters will decide on legalizing and taxing marijuana. Arizona, Montana, New Jersey and South Dakota all have measures up for a vote to legalize and levy recreational marijuana. Thus far, 11 states have legalized recreational pot: Alaska, California,

Advisors are bullish on Joe Biden, but bracing for a rocky election cycle, according to a CNBC FA 100 survey. More than a third, or 37%, of top-rated financial advisory firms said they believe the Democratic nominee will be elected as the next U.S. president, compared to 20% predicting President Donald Trump will come out

fizkes | iStock | Getty Images As disruptive as the coronavirus pandemic has been for the U.S. economy and financial markets, the country’s top financial advisors have managed to find ways to adapt to the changing circumstances of a new normal. The community shutdowns across much of the country have profoundly changed how advisors operate and