On this episode of Finance In A Flash, Chip and John discus Money Markets! We dive into what a Money Market is, FDIC limits, what role Money Market accounts play, and so much more!
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We explore the four elements of an investor's risk profile - risk capacity, risk required, risk tolerance and risk perception. Understanding each type of risk is an essential element of building an investment portfolio that can both meet your specific investment needs, while allowing you to sleep easy during times of personal and financial stress.
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On this episode of Finance In A Flash, we wrap up our series on Estate Planning by discussing common types of trusts. Chip and John briefly discuss several common types of trusts, their objectives, pros and cons, and tax and estate implications!
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The SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
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On this episode of Finance In A Flash, we continue our series on Estate Planning by discussing Revocable Living Trusts. Chip and John discuss key components of a Revocable Living Trust including: the primary purposes, how they are handled from a tax perspective, and other reasons to consider this estate planning tool!
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Interest rates have risen significantly over the course of the last year. So, you would expect that interest rates on savings and money market accounts would have followed suit. However, it seems that many banks have yet to adjust the interest rates they pay to customers on deposit accounts like savings and money market.
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With the passage of the SECURE Act, distribution requirements for beneficiaries changed dramatically. Now, non-spousal beneficiaries are required to distribute the entire balance of an inherited IRA within 10 years! This could present an enormous tax burden for those beneficiaries.
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Are you worried that your estate plan is inadequate or needs updating? Do you need a will, but are worried that you don’t know enough to answer an attorney’s questions? Learn more about the importance of having a will and understand how wills are utilized as a component of your estate plan.
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On this episode of Finance In A Flash, we continue our series on Estate Planning by discussing Probate. Chip and John discuss what probate actually means, the assets included in the probate process, what assets are NOT included in the probate process, and so much more!
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Beacon recently hosted a live webinar for clients and friends discussing the financial market this year. It has been a difficult year for investors, but there’s good news! Check out this webinar to get our take.
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Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.
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On this episode of Finance in a Flash, Chip and John kick off our series on Estate Planning. We discuss asset titling and the importance of understanding how different assets are titled!
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Memory loss and other types of cognitive impairments become increasingly common with age. Making important financial decisions can be a challenge. This
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Stocks and bonds have “taken it on the chin” this year! The good news is that long term investors have a track record of success!
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In this episode of Finance in a Flash, Chip and John give an update on the economy and financial markets. Chip and John talk about the performance of various investment categories, inflation, planning opportunities and more.
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Through hard work and sound financial planning, some find themselves in situations in which they are contemplating intra-family financial planning. That is, identifying financial planning techniques that can be used to financially strengthen the next generation—children and grandchildren.
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Let’s face it, in today’s world, managing your personal financial affairs can be complex. There are many decisions that need to be made on a weekly or even daily basis. For a large and growing segment of the population, who are trying to help aging parents with their finances, this can be incredibly frustrating, stressful and burdensome.
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If you are over age 70.5, you are eligible to make a qualified charitable distribution (QCD). By doing so, you can benefit your favorite charities, while excluding up to $100,000 annually from your gross income.
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There is no doubt that pensions are an extremely important asset and making decisions regarding these plans can be daunting and stressful. This is especially true since pension decisions are irrevocable! This article addresses common questions that should be considered when making decisions about your pension.
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Beacon recently hosted a live webinar to update clients and friends about the financial markets and current economic conditions. We also provided some financial planning strategies to consider that could have a meaningful impact over the long term.
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