Unfortunately, we have been around long enough to have seen people make some serious financial mistakes. Mistakes that can have life-altering consequences. Helping people knock the dust off and pick up the pieces is not fun. If there is a bright spot in going through these difficult times with clients, it is that our current and future clients get to benefit from the knowledge we gain from having helped clients during these setbacks.
Read MoreOn this episode of Finance In A Flash, Nick and Chip discuss the importance of contributing to 401k's and their benefits. They go through 401k frequently asked questions, tax benefits of 401k's, and have a quick discussion on how you should view investment options within your 401k plan. Chip and Nick then discuss what you should do if you have an old or inactive 401k plan and whether or not you should consider rolling it over to your new 401k plan or roll it over into an IRA. Lastly, always remember to check your beneficiary designations on your 401k plans!
Read MoreHere is a replay of our October 20, 2020 webinar. During this webinar we discuss: observations on 2020 market performance, thoughts heading into the election cycle, tax planning opportunities as we head into the end of the year, and what have we learned from 2020. All followed up with a Q&A!
Read MoreIn this presentation, Erin Campbell, CPA/PFS, CFP® discusses executing converting funds from an IRA to a Roth IRA (i.e. Roth conversion). She discusses everything from the reasons people should consider this strategy to the possible drawbacks.
Read MoreAs the Covid-19 pandemic enters its 8 month, so many questions remain unanswered. How far are we from having a vaccine? Will there be an emergence of new Covid cases as the weather gets colder? Will states be able to effectively reopen local economies? Most importantly, when will things get back to normal? These unresolved questions all seem pretty important at the moment. However, will these temporary issues have a meaningful impact on a well-diversified, long term investment strategy?
Read MoreA, B, C, D, F, Institutional? There are many different share classes to choose from when investing in mutual funds. Understand the differences and discover which share class will work best for you.
Read MoreDoes who wins the election, Republican or Democrat, really have a bearing on stock market returns? Let's take a look at the data and find out.
Read MoreIn this episode of Finance In A Flash, Nick & Chip discuss one of the most used phrases in all of finance, "The Market". What are people actually referring to when they say things like; "The market is crashing today!", "The market is down 1000 points", or "Stocks are soaring!"? Nick and Chip unpack the different indexes people may be referring to when they mention "The Market" and why you shouldn't always correlate the performance of "The Market" with your overall portfolio.
Read MoreThere are a number of indexes that attempt to measure the performance of the financial markets and serve as a gauge of economic activity. The following are descriptions of several of the most common indexes.
Read MoreLet’s face it, seniors today are healthier, more active and are likely to have longer lives. So what are the financial implications for retirees who will likely live well into their 90s and possibly their 100s?
Read MoreWith the passage of the CARES Act on March 27th, Congress eliminated IRA required minimum distributions (RMDs) for the year. This means that many taxpayers above the age of 72, or anyone who is taking inherited IRA distributions, will likely have quite a change in their taxable income in 2020. So, is it a good year to do a Roth Conversion instead?
Read MoreOn this episode of Finance In A Flash, we conclude our series titled: Financial Planning Opportunities Amid Market downturns. Throughout the episode, we cover several planning techniques such as Roth Conversions, Refinancing your mortgage, and reevaluating your budget, especially if you are in the distribution phase.
Read MoreWho would have ever expected a rebound of historic proportions in stocks? However, since March 23rd—the height of pandemic uncertainty—major stock indexes have advanced nearly 40%!
Read MoreOn this episode of Finance In A Flash we continue our series on Financial Planning Opportunities Amid Market Downturns by covering Tax-Loss Harvesting. We go through the details of Tax-Loss Harvesting and the benefits of using this strategy during times when your investments have losses.
Read MoreDo you know the factors to consider when establishing an emergency savings account? How much cash is it appropriate to keep on hand in short term savings and money markets? Before we address the question, it is important to understand the important role cash plays in an overall financial plan.
Read MoreThis web presentation discusses the importance of an Investment Policy Statement (IPS) when managing client portfolios.
Read MoreWe at Beacon Financial Strategies, believe that rebalancing is an integral component of the investment management process. In this presentation, Chip Hymiller, AIF®,CFP® explains the concept of rebalancing and discusses the advantages of implementing a portfolio rebalancing strategy.
Read MoreDoesn’t it seem like the stock market should be down more in 2020? This article takes a deeper dive into the numbers and it turns out that when using more diversified definition of “the market,” stocks have taken quite a hit this year.
Read MoreStocks are declining just about everyday. It seems like investors would be much better off just selling their stock positions and waiting until things stabilize and there is more certainty. This web presentation addresses the logistics behind this decision and identifies a common scenario that can play out when making this type of portfolio adjustment.
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