Check out this recent webinar where Chip, John, and Beacon's newest team member Dave sit down to discuss key topics in the investment markets throughout 2024, share valuable insights, and discuss the outlook for 2025.
Target Date funds have grown in popularity over the last decade especially inside employer benefit plans such as 401Ks. On the surface, they all seem to be exactly the same. First, you pick your fund based on your anticipated retirement date. Then you let the manager handle the rest – they utilize their glide path and make the portfolio more conservative as you approach retirement. While true, behind the scenes there are subtle differences that investors should be aware.
As the year winds down, it is always a good idea to review your tax situation to determine if there are ways to reduce your tax liability or take advantage of financial planning opportunities that may exist. Here are several items that may warrant consideration prior to the end of the year.
As we close out 2024, it is a good time to think ahead about the coming year. Below are the 2025 Income tax brackets for all taxpayers.
As we celebrate Beacon’s 20th anniversary, we’ve spent time reflecting on how far we’ve come. A lot has changed over the years, and our evolution has been remarkable.
Since 2001, individuals over the age of 50 have been allowed to make "catch-up" contributions to their 401(k) plans, IRAs, and Roth IRAs. This provision was designed by Congress to give those nearing retirement the opportunity to boost their savings in tax-advantaged retirement accounts. Now, starting in 2025, new legislation will extend these opportunities even further.
Since 2004, much has changed, but one thing has remained constant: our unwavering commitment to helping our clients. As we’ve matured and experienced life’s ups and downs ourselves, we’ve come to truly appreciate the value of the advice Beacon provides and the difference it makes for our clients.
Placing a security freeze on your credit with each agency is the only way to prevent someone from obtaining credit in your name without your consent. Here we discuss how to execute a credit freeze and the drawbacks to this strategy.
One area that often sparks debates in the financial arena is pet insurance. Is it a necessary investment, or can you afford to self-insure? When I got my dog, Penny, I was torn on whether pet insurance would be right for us. Penny is my first dog and we got her when she was just 8 weeks old. I quickly found out how much of a financial commitment she was going to be once we brought her to our vet for the first time. Shots, exams, spay… It was adding up quickly.
The current tax code is set to expire in 2026. The article shows what has happened with tax rates since 2016 and what is scheduled to happen going forward until 2030. There are some notable changes beginning in 2026.
In 2020, the SECURE Act changed the distribution requirements for non-spousal beneficiaries of IRAs. The new rules are fairly complicated. We will review the rules and discuss the options and opportunities to optimize the tax impact of these inherited IRA distributions.
Many underestimate their understanding of basic financial matters, leading to a lack of confidence and possibly anxiety. In reality, there is really just one simple “secret formula” that people who are financially successful do—they Pay Themselves First.
Portfolio rebalancing is an integral part of the investment management process. On this episode of Finance In A Flash, Chip and John sit down to talk about the concept of rebalancing and discuss the benefits of implementing a portfolio rebalancing strategy.
Chip and John sit down to discuss some of the highlights from Beacon’s most recent investment committee meeting!
Are you the type of person who celebrates your personal victories? According to a number of psychological studies, celebrating victories—even the small ones, has an extremely positive impact on a person’s sense of happiness and well-being.
Are you faced with the task of helping aging parents with their finances? Here are some helpful ideas to make the process more manageable.
Are you in the process of evaluating, or considering a move into a retirement community? We have found that when it comes to choosing a retirement community, those who are happiest and most confident with their choice are those who carefully consider both the financial and non-financial aspects when making their decision.
Beacon was recently able to break away from spreadsheets and tax returns and volunteer at the Food Bank for a day.
We have received a number of inquiries from clients recently about Qualified Longevity Annuity Contracts (QLACs). As with most types of “financial solutions,” the attractiveness of QLACs is in the eye of the beholder. Let’s take a look under the hood!
The IRS has announced contribution savings limits for retirement savings accounts for 2024. All the maximum contributions to retirement plans have increased by $500. Make sure you let your payroll department know that you want to increase your contributions to these plans.
On this episode of Finance in a Flash we welcome a special guest to the podcast. Stephanie Murray, Stephanie is Beacon’s Planning and Operations Manager. Stephanie is an Enrolled Agent—a federally licensed tax practitioner as well as a Certified Financial Planner™. John and Stephanie sit down and discuss important tax forms, the tax preparation process, and much more!
I am at the age where I am really beginning to realize how fragile life can be at times. Recently, we learned that former University of North Carolina basketball great, Eric Montross had lost his battle with cancer and died at the young age of 52.
Beacon recently hosted a live webinar for clients and friends where we discussed financial markets and year-end planning opportunities! Check out this webinar to get our take.
It is important to periodically review your estate planning documents like wills, trusts and powers of attorney. This article discusses the things to confirm when conducting a review of your estate documents.
When it comes to investing, the relationship between risk and reward has held steady over time. It is important for investors to understand this relationship when constructing an enduring portfolio.
Investing is as much a psychological journey as it is a financial one. While market dynamics, economic indicators, and personal preferences play crucial roles in investment decisions, understanding and managing behavioral issues is equally important.
Now, more than ever, we are recommending 529 Plans as a way to save for college. When Congress passed the SECURE 2.0 Act in 2022, they introduced new rules relating to 529 plans. The new law now allows for tax and penalty-free rollovers from a 529 plan to a Roth IRA!
On this episode of Finance in a Flash, Chip and John explore why we prefer mutual funds and ETFs versus individual stocks!
On this episode of Finance In A Flash, John interviews Beacon's Client Services Representative, Patrick Lamprey. We really hope you enjoy this episode and get to know more about Patrick as he talks about his personal life, how he got into financial planning, and his time here at Beacon so far!
Getting married is one of the biggest decisions of any persons life. On this episode of Finance in a Flash, Chip interviews John to discuss making financial decision as newly weds.
