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Friday, November 20, 2020

It is not surprising that the holiday season is one of the most expensive for individuals. Giftgiving, decorating and holiday treats can tap into the budget if a few general rules are not followed. Here are five tips to avoid...

 

Friday, November 20, 2020

The Internal Revenue Service recently reported changes to the 401k and IRA. The agency’s announcements to Congress issues new regulations. Each alteration will impact retirement accounts and 401(k) contribution limits in 2021....

 

Tuesday, November 10, 2020

With every change in the world, there always seems to be the temptation to make an impulsive financial decision, especially when it comes to investing. This year especially was difficult for investors who made such decisions when the...

 

Tuesday, November 10, 2020

While tapping into your 401(k) is not the first choice that you should make, it is sometimes unavoidable. During the most recent economic crisis, you may have needed to withdraw from your retirement funding in order to make ends meet...

 

Friday, October 16, 2020

Older Americans on Medicare have become the focus of criminals. According to government officials, they are now utilizing various fraud schemes associated with the coronavirus pandemic. The common goal of these criminals is to get an...

 

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Friday, October 16, 2020

The world of COVID-19 is, at least for the foreseeable future, the new normal of society. That means that there's no time to slow down on retirement investing, as those same deadlines are coming up as quickly as ever. Below are some of...

 

Wednesday, September 30, 2020

The time is finally here. It’s when the chickens come home to roost. In most of the financial blogs of late concerning Social Security, it’s been nothing but doom and gloom. Everyone is scared the trust fund will run out of...

 

Wednesday, September 30, 2020

Except in some rare cases, we all need to have a plan for our retirement years. Each person has individual financial goals along with their personal savings situation. Hopefully, you have a personal financial advisor to help manage the...

 

Wednesday, September 2, 2020

With a third of the 2020 tax year behind us, the Internal Revenue Service (IRS) has finally released the 2020 tax brackets. While it might seem a little late in the year, you still have plenty of time to make adjustments to your tax...

 

Wednesday, September 2, 2020

Retirement could be a stressful phase in your life if you did not do any prior planning before you became a retiree. This is because you need to put food on your table and pay bills like medical expenses, electricity, and water bills....

 

Friday, August 7, 2020

When we pass, there will be debts that are left unpaid even if we stay caught up with our financial obligations. At the very least, there will be the medical bills accrued towards the end of life and any bills that can end up...

 

Friday, August 7, 2020

Should I claim my Social Security benefits now? It’s a common question, and it’s one that you’re very prudent in asking. Timing is the biggest facet in maximizing your benefits. Yet, you’ll get an array of...

 

Wednesday, July 22, 2020

If you have been one of the many impacted by COVID-19 and you’re closer to retirement than some, then you should look through these tips to see what you can do to overcome this problem. Check Your Savings Check your savings...

 

Wednesday, July 22, 2020

If you missed the news, the IRS announced that if you already took out your maximum percent for your Required Minimum Distribution, you are still in luck. According to the IRS, you can still roll over those funds and put them back into...

 

Friday, July 10, 2020

After months of desolation at the airports, air travel has increased every week leading into the busy summer vacation season. With full flights becoming more of the norm, it is more challenging than ever to socially distance on planes,...

 

Friday, July 10, 2020

The economy that we all wake up in each day under COVID-19 looks a lot different from the one that existed before the virus took hold in the United States and around the world. It has been a major point of reflection for people all...

 

Tuesday, July 7, 2020

The current economic crisis was unexpected, but it hit quickly. Within a month, the stock market lost about a third of its value. Many investors were hit particularly hard. As states largely locked down, many workers saw their jobs...

 

Tuesday, June 30, 2020

The recent global pandemic has caused many different types of economic fallout. It has resulted in many companies suspending the matching of their employee's 401(k) contributions. The Plan Sponsor Council of America conducted a survey....

 

Thursday, June 11, 2020

Between February of 2020 and June of 2020 the Dow Jones Industrial Index moved violently from around 27,000 down to below 20,000 and then very quickly back to around 25,000. Anyone watching those market movements surely had a great...

 

Thursday, June 11, 2020

Yesterday was World Elder Abuse Awareness Day. There can be many ways the elderly are abused by family or those close to them. Let’s look at abuse from a financial aspect. Financial abuse can be a complicated subject, but at its...

 

Saturday, May 30, 2020

The ongoing COVID-19 global pandemic has disrupted life in countless ways. The health crisis has led many people to examine their own mortality and realize that they are not prepared for the end of life situations. As the crisis...

 

Saturday, May 30, 2020

In March 2020, the unemployment rate was 4.4 percent; just one month later the number had skyrocketed to 14.7 percent-the highest figure since the Great Depression of the 1930s. Some 29 million Americans are now temporarily or...

 

Monday, May 18, 2020

In March 2020, the Federal Government passed the CARES Act. This act, a result of the massive COVID-19 pandemic that has infected over one million Americans, was responsible for the establishment of a variety of federal aid designed to...

 

Monday, May 18, 2020

The history of the stock market is littered with examples of times when the market takes a dive downwards. However, there are a lot of reasons to believe that the latest market dive is one of the more extreme that most people have ever...

 

Saturday, May 2, 2020

It appears the novel coronavirus is causing more than just damage to people's health. This situation is causing some people to experience serious financial harm from scammers. They are taking advantage of individuals for their money....

 

Saturday, May 2, 2020

The pandemic has some rethinking retirement plans, as this event has a lot worried about their post-career years. The sentiment of US citizens aged 65 and older echoed across the nation is that they have worries about their decisions...

 

Sunday, April 19, 2020

If you’re still someone waiting and wondering about the status of your Stimulus Check, we are here to help you understand it all. The following information will focus on what you need to know about the stimulus checks the...

 

Sunday, April 19, 2020

Countless Americans are worried about the impact that Covid-19 will have on the health of their families and friends, and indeed their own well-being. However, there is another concern that could impact you. In preparing for retirement...

 

Friday, April 3, 2020

In a response to plunging numbers on the stock market, the Federal Reserve has stepped up to offer up some much needed relief in the form of a rate cut. With near-zero rates put in place, many are wondering how it will factor into...

 

Friday, April 3, 2020

Medicare recently announced the expansion of its telemedicine program to benefit seniors while they stay at home during the Coronavirus pandemic. This expansion will allow millions of senior Medicare participants to adhere to the...

 

Friday, March 20, 2020

As the Stock Market wobbles, it has some thinking about “safe money” investments. The idea of having money saved up for retirement and receiving income during that period didn't start with the establishment of Wall Street....

 

Friday, March 13, 2020

Coronavirus has been plaguing the stock market for weeks pushing the markets to record lows! Market volatility can lead to some serious stress on the part of new and old investors alike. The constant up and down of the market can...

 

Friday, March 13, 2020

Coronavirus is continuing to spread worldwide since its origination in China. The virus has entered countries in the Middle East, countries in Europe and even America. It is important to consider what to do about traveling...

 

Wednesday, February 26, 2020

When thinking about retirement, you should make sure to have a clear understanding of savings vs. income. When thinking about retirement, many think about a particular savings amount that they would like to reach. This type of thinking...

 

Wednesday, February 26, 2020

With the passage of the SECURE Act in December 2019, current and future retirees can expect to see significant changes which are likely to impact their tax planning for retirement. Most notably, perhaps, is the increase in the Required...

 

Tuesday, February 11, 2020

An increasing number of employers offer 401(k) plans for their employees. It's estimated that the average employee will have 10 jobs before they hit 40 years old. This means that there are millions of 401(k) accounts that are...

 

Tuesday, February 11, 2020

The retirement age of 65 was chosen for Social Security at a time when average life expectancy was 67. Overall, life expectancy has trended up since then, so it should come as no surprise that 9 million Americans over age 65 now work...

 

Friday, January 31, 2020

When it comes to retiring early, some of the benefits are obvious. You get to live your life without the constraints of work, and you are able to pursue your own interests. But there are other good reasons for retiring early, and there...

 

Friday, January 31, 2020

Millions of people in the U.S. are unable to care for themselves and need long-term care services. These people need assistance in performing one or more self-care activities of daily living such as eating, bathing, dressing, and...

 

Wednesday, January 15, 2020

Planning for retirement sometimes is filled with numerous preparations. One step at a time you put your life and your finances in order so that the remainder of your years are spent enjoying the lifestyle and security you have worked...

 

Wednesday, January 15, 2020

Financial abuse can be a complicated subject, but at its most basic level it involves taking advantage of an older adult through manipulation or intimidation to steal their money or property. What are the risk factors for financial...

 

Wednesday, January 1, 2020

If you were busy with the holiday hustle-and-bustle, you may have missed some of the details of the SECURE Act. Your retirement planning process will likely need to be reviewed because of the SECURE, or Setting Every Community Up for...

 

Wednesday, January 1, 2020

Some Americans are making their financial health a priority in the new year with resolutions to increase savings, reduce debt, and cut unnecessary spending. According to a survey conducted by Fidelity Investments, the top motivation...

 

Friday, December 20, 2019

As a senior you should plan to protect your health no matter where you might venture. If you currently have Medicare or a Medicare Advantage plan, you shouldn't have any problems getting the care you need anywhere in the US. It's when...

 

Wednesday, December 4, 2019

We are nearing the end of 2019 and the opportunity to give for this year. If a person has reached the age of 70.5 they can make cash donations to charities that are approved by the IRS that are outside of the scope of their IRA. These...

 

Wednesday, December 4, 2019

Every new year brings a fresh beginning, this can be just as true now as it ever was. In 2020, expect increases in savings pretax limits for workers looking toward retirement. If you've already reached retirement age, you'll see a...

 

Monday, November 25, 2019

Holiday shopping is underway for many with “Black Friday” and “Cyber Monday” already behind us. One small question you might ask yourself is whether you should pay for your items with a credit or debit card....

 

Sunday, November 10, 2019

More often than not, whenever a presidential election year is underway, you will hear a lot of news anchors and financial analysts will talk about the economy and the stock market. There will often be self-proclaimed experts who have...

 

Sunday, November 10, 2019

The 2020 contribution and benefit limits have been released by the IRS. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased. The...

 

Thursday, October 31, 2019

In most cases, the actions of the Federal Reserve lowering interest rates are a good thing because a lot of economic activity depends on the ability of businesses to borrow money. It is of course easier to borrow when interest rates...

 

Thursday, October 31, 2019

The IRS does a good job of providing the country's elders with ways to save for retirement. Some of the most popular investment vehicles the IRS provides access to for the benefit of US taxpayers include 401(k) accounts and a variety...

 

Saturday, October 19, 2019

If you’re approaching retirement or already retired, you may have a traditional IRA, SIMPLE IRA, or SEP. If you do, at a specific age you must take a minimum distribution. This minimum distribution is required by the government...

 

Tuesday, October 15, 2019

Unfortunately, it’s a very real possibility that you or someone you love may need long term care at some point. Your retirement savings may have to go toward that care, but you will want to help ensure that this money is...

 

Monday, October 7, 2019

It’s that time of year again for Medicare’s Open Enrollment! Are you ready? If you are new to Medicare then it’s important to know that Open Enrollment occurring in the Fall is only designated for changes to be made...

 

Friday, October 4, 2019

The largest wealth transfer in the history of the world is currently in process. It's estimated that around $68 trillion will switch hands over the next 25 years. Baby Boomers are currently retiring, and many of them will pass of the...

 

Tuesday, October 1, 2019

Retirement is a dream for most Americans. Sure, there are people like Warren Buffett who love to work. Most people do not. If you're one of those people who want to retire, the question arises of when a good time to retire might be....

 

Saturday, September 7, 2019

If you are approaching the age of 65 or already an eligible beneficiary, open enrollment for 2020 Medicare health benefits starts soon. For new enrollees over 65 or turning 65 and don’t have medicare, you can sign up from October...

 

Monday, September 2, 2019

September is Life Insurance Awareness Month which gives us a reason to talk about a subject that some try to avoid. Life insurance can conjure up dark images. Many people are jarred into realizing the importance of buying life...

 

Saturday, August 17, 2019

Raising children is something often done by parents in the prime of their life, typically between the ages of 20 and 50. By the time retirement comes around, most of the children are off on their own, leaving the parents to finally...

 

Sunday, August 11, 2019

Looking back at the past few weeks, the market has made some investors nervous. Market volatility can lead to some serious stress but what are the best ways to respond to this uneasy feeling? When dealing with market volatility, it's...

 

Monday, July 22, 2019

With all of the day-to-day demands on your finances, sometimes it is difficult to have a strong grasp on what your overall financial picture really looks like. While many people may be very in tune with one segment of their financial...

 

Monday, July 8, 2019

Building your dream home for retirement is not an uncommon goal many Americans have. However, just because it's a common dream doesn't mean it's an appropriate dream for a large portion of the population. Sure, you may have several...

 

Saturday, June 29, 2019

When it comes to retirement savings, one of the best options available to those who don't have a workplace retirement plan is an IRA. These savings vehicles allow for future retirees to save up to $6,000 per year in a tax-advantaged...

 

Sunday, June 23, 2019

The Forty-hour work week paired with a busy schedule tends to be a recipe for stress and burn out. While practicing daily self-care in small increments is an important piece to preventing burn out, periodically taking a prolonged break...

 

Monday, June 17, 2019

Everyone faces the concept of retirement at some point. The closer an individual gets to retirement age, the more concerned he may become about his ability to live comfortably after retirement. It may also make him wonder whether his...

 

Sunday, June 9, 2019

Planning for retirement allows for many considerations and avoiding Probate is one of them. The good news is if own a retirement account and have named beneficiaries, the account does not have to go through the probate process in most...

 

Sunday, June 2, 2019

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) recently passed in the House of Representatives by a margin of 417-3 last Thursday. The bill is slated to be successfully ratified into law by the U.S. Senate...

 

Sunday, May 26, 2019

It is never too early to begin thinking about retirement. Even if that season of life is decades away for you, the financial decisions that you make now can have a significant impact on your quality of life later down the road. As you...

 

Sunday, May 19, 2019

Although we assume many of our readers know what a 401(k) and an IRA are, let’s cover these quickly. What is a 401(k)? 401(k) retirement, savings, and investment accounts are places to store money in which your contributions are...

 

Tuesday, May 14, 2019

Individuals working for years and planning for retirement ultimately lead to be dynamic go-getters who don't want to think about the limitations and possible incapacitations of old age. However, with smart planning in your 50's and...

 

Monday, May 6, 2019

Social Security is one of the main benefit programs for workers in the United States. At some point, almost everyone will collect something from Social Security. If you are getting close to collecting from Social Security, you might be...

 

Sunday, April 28, 2019

One of the crucial decisions in life if you have minor children is to make arrangements for the guardian or guardians who will finish raising your children if you and your spouse should happen to die in a common accident or weather...

 

Thursday, April 25, 2019

This years tax deadline is behind us. If you received a refund, what’s your plan? Some taxpayers choose to spend the entire check on clothing, shoes, and their appearance. They never look into investing their money for their own...

 

Monday, April 15, 2019

Two years ago, the current government built their own mark on the United States with what some call the most necessary and important tax reform. The retirement reform that they are planning might be the long shot of 2019 since there...

 

Thursday, March 22, 2018

Are You Getting All The Free Money From Your Employer You Can (Part 1)? By Nathan Brown Many people receive the benefit of being able to invest in their company stock at a discount. However, not everyone maximizes that opportunity....

 

Saturday, December 9, 2017

When you watched the New Year’s Eve countdown and raised your glass to 2017, did you make any resolutions to put your finances first this year? If so, you’re not alone. Finance-related resolutions are the third most popular...

 

Thursday, November 16, 2017

Happy Thanksgiving to you and your family! I want to take a moment to thank you for an amazing year in 2017. We sincerely appreciate the trust you place in our firm, and we take our responsibility to you and your family very seriously....

 

Thursday, November 16, 2017

There are a lot of perks that come with spending a lot of time at a company like Intel or Nike. One that you’re probably very familiar with is company stock. If you’re in upper management, you have seen your fair share of...

 

Friday, October 13, 2017

At Kimsa Total Wealth, I’ve spent years focusing my career on helping people who are making a significant transition in life—from selling the family business to diversifying two decades of concentrated stock positions. As a...

 

Tuesday, September 19, 2017

Risk is everywhere, every day. But when it comes to your money, taking on too much risk can mean not reaching your goals. While there are some things we can’t control, such as natural disasters and political scandals that cause...

 

Tuesday, September 12, 2017

If you have a credit report (and most of us do), there’s a good chance that you were one of the estimated 143 million Americans affected by the recent Equifax Data Breach. If you have been affected, it’s important to be...

 

Tuesday, September 12, 2017

Downsizing has become the norm as companies desperately try to keep up with technological advances and changing markets. Intel fell prey to this trend in 2016, eliminating 15,000 jobs worldwide. (1) Unfortunately, the layoff spree is...

 

Monday, June 5, 2017

In March, we discussed six milestones that require a financial advisor. But is a financial advisor worth it? You’re smart, so you could get online and learn about finance for yourself. What will a financial advisor actually do...

 

Monday, May 22, 2017

We all have one. It’s the place in the house that inevitably becomes a catch-all for every random thing that comes in the door. Whether it’s the built-in desk in your kitchen or you are more traditional with an actual...

 

Monday, May 15, 2017

This year’s tax season may be over, but it’s not too early to start planning for next year! Tax season is usually not everyone’s favorite time of year, but taxes are a necessary evil we must face. Many people...

 

Monday, May 8, 2017

The most popular college savings vehicle is the 529 plan. By the end of 2015, there were 12.5 million active 529 accounts in the US.(1) And they continue to grow in popularity. But is a 529 plan really the best way for you to save for...

 

Tuesday, April 11, 2017

What is it that motivates you to work so hard? Do you slave away just to pay the bills, do some fun things, put a bit aside for the future, and call it a day? Most of us just want to have “enough.” Enough to do what we want...

 

Friday, March 17, 2017

A financial advisor is incredibly valuable when it comes to handling your everyday money concerns and helping you planning for your future. But at the same time, there are milestone life events that can dramatically alter your...