Insights into various financial topics are provided on our blog. Please bookmark this page for your reference.
- August 19, 2022
Highlights of the Inflation Reduction Act
Congress recently passed an enormous piece of legislation that touches just about every aspect of American lives. The full extent of the Inflation Reduction Act of 2022 is too large to completely cover, but we want to provide some important highlights. The most visible elements of the bill are likely to ...View more - July 21, 2022
What Happens When There Are No Beneficiaries
Where do those accounts and policies end up? Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually an oversight. In exceptional circumstances, it is a choice. What happens to these accounts and policies when the original owner dies? The investment or insurance firm gets ...View more - June 28, 2022
The Behavior Gap and Your Financial Health
How might it affect you? “It turns out my job was not to find great investments but to help create great investors,” writes Carl Richards, author of “The Behavior Gap.” From increasing our budget mindfulness to taking a steadier approach to investing, Richards has drawn attention to how our unexamined behaviors ...View more - May 18, 2022
Should You Downsize for Retirement?
Some retirees save a great deal of money by doing so; others do not. You want to retire, and you own a large home that is nearly or fully paid off. The kids are gone, but the upkeep costs haven’t fallen. Should you retire and keep your home? Or sell your ...View more - May 17, 2022
Couples Retiring on the Same Page
Agreeing about what you want from retirement is crucial. What does a good retirement look like to Middle-Class Millionaires? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar? The Social Security Administration currently projects an average retirement of 18 years for ...View more - April 21, 2022
Are You Retiring Within the Next 5 Years?
What to focus on as the transition approaches Middle-Class Millionaires can prepare for the transition years in advance. In doing so, you may be better equipped to manage anything unexpected that may come your way. How much monthly income will you need? Unfortunately, there is no “magic” number for everyone to ...View more - March 21, 2022
How Market Cycles Can Impact Retirements
Sequence of returns can play a role in your overall portfolio. A thoughtful retirement strategy helps Middle-Class Millionaires pursue their many retirement goals. That strategy must consider many factors, and here are just a few: income needs, the order of withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications ...View more - March 10, 2022
Major Risks to Family Wealth
Protect your family assets for future generations. All too often, family wealth fails to last. One generation builds a business-or even a fortune- lost in the ensuing decades. Why does it happen, again and again? Often, middle-class millionaire families fall prey to serious money blunders, making classic mistakes, or not recognizing changing ...View more - February 11, 2022
IRA Deadlines Are Approaching
Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2021, will see a few changes and distinctions. December 31, 2022, is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts. April 15, 2022, ...View more - February 11, 2022
Retirement Preparation Mistakes
Why are they made again and again? Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague individuals, or as we say, the Middle-Class Millionaires. Calling them “mistakes” may be a bit harsh, as not all ...View more