Long term care costs are expensive and rising every year. For many, a two or three year stay in a skilled nursing facility could cost several hundred thousand dollars and potentially wipe out a retirement nest egg.

Insurance, Retirement Planning, Eldercare, Retiree, Pre-RetireeChip Hymiller, AIF®, CFP®March 17, 2020financial planning, insurance, long term care insurance, eldercare, long term care

Coronavirus and Market Uncertainty

With the Coronavirus causing disruption and uncertainty around the world. Chip Hymiller explains why keeping your perspective and staying calm during this time is so important to achieving your financial goals.

Mid Career Professional, Pre-Retiree, Retiree, Investments, Web PresentationChip Hymiller, AIF®, CFP®March 10, 2020market turbulence, investing

Do you need a Trust for your children?

Most parents take certain steps to protect their children in the event of their premature death. Drafting a will, designating a guardian, obtaining life insurance and naming appropriate beneficiary designations on IRAs and 401k plans are all important components of an effective estate plan. However, most parents should take additional measures to provide guidance on how their financial assets are managed for their children’s benefit.

Estate Planning, Mid Career Professional, EducationChip Hymiller, AIF®, CFP®March 4, 2020Estate Planning, financial planning, Retirement Planning, tax planning, Trust, Will, Beneficiary

Planning for Your Retirement "Time"

How you want to retire is almost as important as when you want to retire. When you are younger it may be hard to imagine what you would do if you didn’t get up and go to work every morning. But as you get closer to to your retirement date, you should really stop and think about how you will fill your time.

Financial Planning, Pre-Retiree, Retirement PlanningStephanie MurrayFebruary 26, 2020Retirement Planning, financial planning, Personal Finance

Before Your Meeting with an Estate Attorney...Ask Yourself

In order to make your meeting with the estate planning attorney more efficient and productive, here are few items that you need to think about or decide on before your meeting.

Estate Planning, Retirement Planning, Financial PlanningChip Hymiller, AIF®, CFP®February 20, 2020Estate Planning, Power of Attorney, Probate, Retirement Planning, Trust, Will

A Rule of Thumb for Withdrawal Rates

A question we often get is “How much can I withdraw from my accounts during retirement and not deplete them?” That question coupled with the ideal stock/bond mix makes for an interesting discussion on how probable your retirement goals are.

Retirement Planning, Retiree, InvestmentsChip Hymiller, AIF®, CFP®February 18, 2020financial planning, individual retirement accounts, IRA, retirement distributions, Retirement Planning, Roth IRA, tax planning

Spring is in the Air - And it's Tax Season Once Again!

Tax season is upon us. Find out what you need to know to make this tax season painless and worry free!

Tax, Retiree, Pre-Retiree, Mid Career Professional, Financial PlanningErin Campbell, CPA/PFS, CFP®February 12, 2020income tax, tax planning, capital gains

Understanding How Retirement Distributions are Taxed

During retirement, is it best to take distributions from IRAs, Roth IRAs or personal brokerage or savings accounts? The decision of "Which account?" is an important one with many factors to consider.

Retirement Planning, Tax, Financial Planning, RetireeErin Campbell, CPA/PFS, CFP®February 5, 2020financial planning, IRA, retirement distributions, Retirement Planning, Roth IRA, tax planning, distribution planning

What Should I expect from my Social Security Retirement benefits?

Social Security was originally intended to provide older Americans with continuing income after retirement. As people approach retirement, they generally have questions about Social Security and the benefit it provides.

Retirement Planning, Eldercare, Pre-Retiree, RetireeErin Campbell, CPA/PFS, CFP®January 21, 2020retirement distributions, Retirement Planning, Social Security

Common Estate Planning Mistakes

Disorganization can generate months of hassle as well as unnecessary attorney or advisor fees. In addition to making sure that the distribution of your assets is in line with your objectives, taking a proactive approach when planning your estate can save your grieving family a significant amount of time and hassle.

Estate Planning, Eldercare, Mid Career Professional, Pre-RetireeChip Hymiller, AIF®, CFP®January 6, 2020Estate Planning, Personal Finance, eldercare, Probate, Trust, will

Have You Reviewed Your Beneficiary Designations Recently?

Have you confirmed the beneficiary designations of your 401k, IRA, or life insurance policies recently? If not, you should! Find out why.

Estate Planning, Retirement Planning, Mid Career Professional, Pre-Retiree, RetireeChip Hymiller, AIF®, CFP®December 10, 2019Estate Planning, Retirement Planning, 401k, Roth IRA, IRA, Retirement Plans, insurance, life insurance, Deferred Compensation

What is the biggest difference between mutual funds and exchange traded funds?

While both mutual funds and exchange traded funds (ETFs) can be effective tools when creating a diversified portfolio, it is important to understand attributes of each of these investment options.

Investments, Mid Career Professional, Pre-Retiree, Retiree, TaxChip Hymiller, AIF®, CFP®November 26, 2019total return, investment planning, investments, investing

What Grade Does Your 401(k) Get?

How good is your 401(k) plan at work? We looked at Brightscope which measures 401(k) plans and gives them a rating.

Corporate Sponsored 40..., Mid Career Professional, Pre-Retiree, Retirement Planning, Financial PlanningChip Hymiller, AIF®, CFP®November 26, 2019401k, 401k Plan Sponsor, financial planning, Personal Finance, Retirement Plans, Corporate Sponsored Retirement Plans

What do commission-free trades mean for you?

Brokerage firms Charles Schwab & Co. and TD Ameritrade recently announced that they would stop charging brokerage commissions on trades for exchange traded funds and even stocks. Some of you may have wondered what impact this will have on you and also will we (Beacon) make any changes to your portfolio as a result.

Company News, Education, Mid Career Professional, Pre-Retiree, RetireeChip Hymiller, AIF®, CFP®November 22, 2019Trading, IRA, Roth IRA

Financial Affirmation with The Millionaire Next Door

The Millionaire Next Door is a classic book that surveyed over a thousand millionaires to try and identify common attributes that made them so successful at accumulating wealth. And the results may surprise you.

Financial Planning, Mid Career Professional, Pre-Retiree, Retirement PlanningChip Hymiller, AIF®, CFP®November 20, 2019Personal Finance, financial planning, Retirement Planning

Donor Advised Fund Comparison

In our previous article, we provided some insight and listed the benefits of utilizing donor advised funds as a component of a charitable gifting strategy. As a follow up, we wanted to provide some information that could be helpful when vetting custodians who offer donor advised funds.

Charitable Gifting, Estate Planning, TaxChip Hymiller, AIF®, CFP®November 7, 2019Charitable Gifting, Estate Planning, tax planning

"Bunching" Charitable Gifts Using Donor Advised Funds

With the new tax law, bunching charitable donations may make sense. Donor advised funds can be a great tool in your charitable gifting strategy. This article discusses attributes and unique features of donor advised funds.

Charitable Gifting, Estate Planning, TaxErin Campbell, CPA/PFS, CFP®November 5, 2019Charitable Gifting, Estate Planning, tax planning

Retirement Readiness Part 2: Preparing for the Transition

Is retirement on your horizon? Have you thought about what it will take to be prepared financially to retire? This article provides a number of common financial decision points and action items that you may need to evaluate during your “pre-retirement” period.

Pre-Retiree, Retirement PlanningChip Hymiller, AIF®, CFP®October 11, 2019

Social Security: Common Questions

Many people have questions regarding their Social Security retirement benefits. This article addresses several of the more common questions that people often ask us.

Retirement Planning, TaxErin Campbell, CPA/PFS, CFP®September 24, 2019Retirement Planning, Social Security