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Having a Baby? 8 Financial Decisions To Make Over the Next Nine Months Thumbnail

Having a Baby? 8 Financial Decisions To Make Over the Next Nine Months

Bringing a baby into the world can be exhilarating, and the anticipation of change can often be overwhelming for new parents. Suddenly, nine months feels like the blink of an eye when it comes to preparing for the expansion of your family. Not only will your life change overall, but the details of your finances and everyday nuances will suddenly become drastically different.

College Planning Investment Insights
Thinking About Income in Retirement? An Annuity Might Be the Way to Go Thumbnail

Thinking About Income in Retirement? An Annuity Might Be the Way to Go

From setting aside a portion of your earnings each year to investing for a long-term horizon, saving for retirement is a fairly straightforward concept. Once you reach your retirement date and begin drawing income from your savings, however, things begin to feel more complex and, at times, uncertain. Annuities can provide longevity insurance by protecting against outliving your savings. Options include life annuities, providing an income stream throughout your retirement chapter, and joint annuities, providing both you and your spouse payments for the remainder of your lives.1 The first step is to determine whether an annuity is right for your lifestyle and circumstances.

Investment Retirement Funding Insights
4 Yearlong Tax Tips for Retirees Thumbnail

4 Yearlong Tax Tips for Retirees

Whether you’re just easing out of the workforce or you’ve been in retirement for a few years now, making the right financial moves is critical. If you’re working with an advisor or taking a look at your finances yourself, one central goal during retirement is protecting your wealth from unnecessary taxes. In many cases, there are ways to avoid owing more taxes - but usually, this requires proactive action beyond tax season. Below we’ll explain four tips you can utilize throughout the year to help minimize your tax obligations in retirement.

Investment Retirement Funding Insights
Your Employer Suspended Its 401(k) Matching During COVID-19. Now What? Thumbnail

Your Employer Suspended Its 401(k) Matching During COVID-19. Now What?

According to a recent survey by the Plan Sponsor Council of America, 16.1 percent of organizations have suspended matching employer contributions due to financial hardships caused by COVID-19. Worse yet, 1.3 percent of businesses have terminated their 401(k) plans altogether.1 Millions of Americans rely on their 401(k) and matching employer contributions to bolster their savings for retirement. If your employer has recently made an adjustment to its 401(k) offerings, you may be considering how this could impact your future retirement - and what next steps you should be taking.

Investment Retirement Funding Insights
You Received Unemployment Benefits During COVID-19. What Does That Mean for Your Taxes? Thumbnail

You Received Unemployment Benefits During COVID-19. What Does That Mean for Your Taxes?

By the end of May 2020, over 20 million Americans claimed unemployment benefits. This payment can be a great relief to many who have found themselves out of work due to COVID-19. Many companies have been forced to lay off workers, while others simply have not been able to operate as a result of health risks, including restaurant and entertainment industry workers. However, unlike the stimulus checks that were a part of the CARES Act, unemployment benefits (state benefits plus the government’s weekly benefit payments) are federally taxable and may also be taxed by your state.2 Rather than facing an unwelcomed tax burden during the 2020 tax season, we go through three options to help you prepare for next tax season.

Insights