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New Year's Resolutions to Get Your Finances in Order

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances. To make the most of the New Year, keep the following tips in mind.1. Outline New GoalsTo ensure you're moving in the right direction, take some time to outline your goals. Think about long-term goals such as buying a home, sending the kids to college, or
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End of Year (EOY) Deadlines Checklist

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything, meeting these deadlines and getting tax efficiencies in place now may help the rest of the year run more smoothly. Read on for several things you'll want to accomplish before 2020 draws to a close. Establish or Contribute to a Keogh Plan
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End of Year Planning: Set Goals and Reduce Taxes

By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning, creating the first draft of your federal and state income tax returns to see what factors you can tweak and what goals you can set to reduce your overall tax burden. Read on for some points to consider as you close out 2020.  Maximize Your Retir
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Smart Shopping During the Holidays

The holiday season is just a short time away, which means the shopping season is about to be in full swing. Shopping for holiday gifts is stressful but also a little fun, especially when you think bout the joy you will bring to those who receive them. But in all the rush to get everything done in time, it is easy to forget smart shopping techniques and end up spending yourself into debt or buying a lot of items that you do not need. So this year, why not try some smart shopping tips to
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Tax Benefits of Charitable Planning

When you donate to a charity, you want to know that your donation is going to its highest and best purpose—which means minimizing the tax exposure of the donated assets. One way to accomplish this, whether you're hoping to donate during your lifetime, after your death, or both, is through a charitable remainder trust. Read on to learn more about the benefits of charitable planning through a charitable remainder trust. What is a Charitable Remainder Trust (CRT)? A CRT is a type of
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End of Year Planning: Set Goals and Reduce Taxes

By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning, creating the first draft of your federal and state income tax returns to see what factors you can tweak and what goals you can set to reduce your overall tax burden. Read on for some points to consider as you close out 2020.  Maximize Your Retir
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How Should High Net-Worth Women Use Their 401(k)?

The 401(k) allows (most) account owners to stash away nearly $20,000 per year (or more than $25,000 for those age 50 and over), without paying any federal income tax on contributions. And with the Tax Cuts and Jobs Act reducing the top marginal tax rate for just about all tax filers, this could be a good time to reduce your pre-tax income. How can high net-worth women optimize the use of a 401(k)? Reduce Your Marginal Rate to Open Other Doors Many high net-worth women earn too much to cont
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Should You View Your House as an Investment?

The National Association of Realtors recently announced that first-time home buyers accounted for 33% of home sales in August, which is up from 31% a year before. And you can bet that many of those first-time home buyers were told that they are making a great “investment” by purchasing a home.In fact, it’s likely that many consider their home as a wealth-building tool, especially since it allows home buyers to not “throw money away” on rent. But should you compare t
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Wondering Whether You Missed the Recovery?

Why long-term investing success is about time in the market, not timing It is only natural that investors would want to find some way to sit out bear markets and get back just in time for the next bull run. The belief that you can foresee the direction of the stock market is a seductive one. Some investors are confident that they can time it perfectly and snap up equities when prices are low and shift into cash or bonds when the market hits its peak. But investors run a big risk by selling whe
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Should You Change Your Investing Strategy?

Should You Change Your Investing Strategy?There is no one-size-fits-all answer, but tactical shifting might make sense   Wise investors alter their approaches as market cycles shift, from bull to bear to something in between. A consistent strategy might be far more risky than one that involves tactical shifts according to the season. Take most 13-year-old boys, who love wearing shorts and T-shirts. They love this so much that they wear this attire all year-round, no matter how cold it is o
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Investing in an Election Year

The world's events always affect the markets, and making smart investment choices requires you to look at what's happening around the world. But what about during an election year? How should you invest while the country is deciding which direction to take? Regardless of which side of the political spectrum you prefer, you may want to keep the following facts in mind as you invest during an election year. 1. Stocks Trend Upward Regardless of Who's in Office Althou
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Tips for Navigating a Volatile Retirement

Retirement is the time in your life when you want to sit back, relax, and enjoy the fruits of years of hard work. But unfortunately, when the market is volatile, it may bring additional anxiety and stress. The good news is, a volatile market does not necessarily spell disaster, and by following a few simple tips, you may be able to reduce anxiety as you navigate through these times. Determine How Much Income You Have to Count On It is unlikely that all of your retirement savings is linked direc
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Avoid Playing Politics with Your Portfolio

When the markets are shaky, it can be tempting to rely on political headlines or pending legislation to time your entry or exit points. However, letting politics drive your investment decisions can be a costly mistake. Learn more about what helps market trends endure beyond political administrations and why you should ignore the noise and focus on your investment fundamentals. Politics' Long-Term Impact (or Lack Thereof) on Markets How much do political decisions really impact the stock mar
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COVID-19 Delaying Your Retirement Date?

Recent surveys have indicated that many of us are rethinking our retirement plans because of COVID-19. In fact, one survey from the nonprofit group Life Happens suggests that a whopping 43% of Americans say they plan to postpone and continue working past their retirement date because of COVID.As a financial professional, this is troubling for lots of reasons. And while it’s impossible to make blanket statements or give advice that fits the masses, there are three important questions you ne
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The Risks of Market Timing

"Market timing" is the strategy of trying to predict when stock prices will rise and fall and attempting to buy low and sell high. While this seems to make sense in theory, it's extremely difficult to pull off successfully. Trying to time the market may mean missing out on potential gains.Typically, you can't accurately pinpoint a market high or low point until after it has occurred. If you move your money out of stocks during a low period, you might not move your money back in
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Coping With Market Volatility in Uncertain Times

As the United States desperately tries to flatten the contagion curve for the coronavirus, many state governors have mandated the closure of an unprecedented number of businesses and issued stay-at-home orders to their citizens. The global pandemic is wreaking havoc with the markets and causing concern among many investors. Dealing with market volatility during uncertain times can be stressful, and these tips may help.  1. Focus on What You Can ControlDuring times of economic uncertain
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