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How to Protect Your Small Business from Cyber Threats

October 25, 2022
Risk management is a key component in any successful business plan. In today's world — where data breaches are common occurrences — it's especially important for business owners to understand the digital risks they face. Are you doing all you can to mitigate the risk of a cyberattack?
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A Quick Guide to Estate Planning for Those With High Net Worth

October 18, 2022
Even if you never thought of yourself as especially wealthy, there may be a fair chance that you fall into the category of "high net worth individuals"—those who have liquid assets of $1 million or more.1 For many individuals who hope to leave a legacy for their loved ones, estate planning may take on new importance. Here are two estate planning tips every high-net-worth individual should consider.
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Business Continuity and Long-Term Care Considerations

October 11, 2022
As a business owner, you know the importance of planning for your company's future. To this end, you may have taken steps to learn about buy and sell agreements and the role that life insurance and disability income insurance can play in planning a business buyout. If so, you may be one step ahead of the game. But, have you thought about long-term care buyout planning?
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High Net-Worth Individuals: Are You Missing Opportunities in Your Financial Plan

October 4, 2022
High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey. Often, they have missed opportunities in their financial planning because they haven't planned adequately for their retirement even though they make a high income.
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A Fall Financial Checklist

September 14, 2022
For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It's also a bookmark of sorts, especially for your finances and a perfect time to take stock of your spending after the summer months are over to see what lies ahead. These tips can help you make simple, sensible choices and take action to make the most of your money, from your food choices to your financial options to protecting your most valuable assets.
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Life Insurance for the Self-Employed

September 5, 2022
If you're like most people, you bought life insurance to provide for your loved ones in the event of your death. But because you're self-employed, you may have an even greater need for life insurance: You'll want to protect your family after you die, as well as protect the financial needs of your business. Why life insurance is important As long as you are alive and healthy, your income-producing capability is relatively secure, and you and your family can enjoy the lifestyle you ha
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Choosing the Right 401k For Your Employees

September 1, 2022
Implementing a 401(k) plan for your employees is good business. It means you're thinking strategically, that you care for your employees, and are focused on the long-term health of your company. Implementing a retirement plan can help you attract and retain top talent, may make you eligible for tax credits, and can allow you to deduct contributions to employee 401(k)s as business expenses.
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College Funding Strategies for Business Owners

September 1, 2022
What are my options as a business owner? As a business owner, you have unique college planning opportunities. If you are in a high tax bracket, it may be advantageous for you to shift assets or income to your child, who will typically be in a lower tax bracket. Generally, you can shift business income to your child using one of the following strategies:
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3 Estate Planning Tips for Small-Business Owners

August 23, 2022
For business owners, estate planning may seem like another task to do on a long to-do list. Having a solid estate and succession plan in place may be crucial to your business long-term success. If you are incapable of making business decisions, or if you unexpectedly pass away without an estate plan, your heirs may scramble to keep your business afloat. Here are three tips that may make the estate planning process less stressful.
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Staying on Track with Your Retirement Investments

August 16, 2022
Investing for your retirement isnt about getting rich quick. More often, its about having a game plan that you can live with over a long time. You wouldnt expect to be able to play the piano without learning the basics and practicing. Investing for your retirement over the long term also takes a little knowledge and discipline. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal,
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Value Investing and Today’s Affluent Portfolio

August 10, 2022
A Philosophical Question   Every consumer likes a good bargain, particularly value investors, who seek out stocks trading for less than their intrinsic value. By choosing companies the market has undervalued, or investing in mutual funds with similar objectives, value investors may realize positive returns. With proper diversification, the prudent use of a value-based investment philosophy may well serve the long-term needs of today’s investor. Growth and Value Defined In order to
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Diversification and Your Qualified Plan

August 2, 2022
As a small business owner, you know that a qualified plan can make a big difference in your ability to attract and retain desirable workers. . At the same time, you may or may not be aware that sponsoring a qualified plan requires the fulfillment of several fiduciary responsibilities, as spelled out in Section 404 of ERISA (Employee Retirement Income Security Act of 1974, as amended).
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A Financial Planning Guide for Families with Disabilities

July 19, 2022
About 61 million adults in the U.S. live with a disability. Many of these disabilities are serious enough to impact a person’s daily life.1 There may be financial benefits available to those whose disabilities leave them unable to hold down a job. However, these benefits may come with strict rules and regulations, such as limits on the assets a disabled person may own. Because of this, financial planning looks different for families with disabilities. Here are some options to consider. Spe
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Holding Equities for the Long Term -Time vs Timing

July 18, 2022
Legendary investor Warren Buffett is famous for his long-term perspective. He has said that he likes to make investments he would be comfortable holding even if the market shut down for 10 years.Investing with an eye toward the long term is particularly important with stocks. Historically, equities have typically outperformed bonds, cash, and inflation, though past performance is no guarantee of future results and those returns also have involved higher volatility.
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4 Tips to Help Seniors During Periods of High Inflation and Market Volatility

July 13, 2022
In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride that has given heartburn to financial professionals and investors alike.For retirees and seniors on a fixed income, the true costs of inflation and market volatility can be much higher—potentially jeopardizing a comfortable retirement. Though Social Security
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A Tax-Deductible Buy-Sell Arrangement

July 13, 2022
One of the critical needs of a small business is to protect against the untimely death of an owner. This is important because the family of the owner may face a large tax bill, and may not have the liquidity to pay the tax. To make matters worse, it may not be desirable for the deceased owner’s family to have a hand in running the business.Traditionally, this problem can be solved with a well designed buy-sell arrangement. Although there are a variety of ways to structure such an arrangeme
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Small-business Owners and the Value of Insurance in Your Financial Plan

July 5, 2022
A solid financial plan for small businesses is vital, and part of that financial plan should be insurance. Insurance is essential to preserve small businesses, cover their assets, and safeguard their employees. Here are some types of insurance coverage a small business should have and why this is critical to your financial plan. General Liability An important part of small business insurance coverage is general liability. This policy covers businesses for some property damage claims and bodily
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Tips to Shape Up Your Fiscal Fitness this Summer

July 4, 2022
A regular program of disciplined financial practices can help you in the long-run Many people realize that the best way to stay in shape is to develop an appropriate fitness regimen and then stick with it. If you start a fitness program and drop out, you never give yourself a chance to become physically fit. In the long run, regular workouts pay off. It is the same with fiscal conditioning. To develop fiscal fitness and the financial independence that goes along with it, be sure to adhere to
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ESG Investing: The New Frontier for Environmentally Conscious Investors

June 15, 2022
Environmental, Social, and Governance (ESG) investing is on the rise throughout the world. A 2018 study from Harvard University’s Kennedy School of Government found that ESG investing now accounts for nearly $30 trillion, which is more than one-fourth of all assets under professional management worldwide.1,2 Here are some definitions and considerations to make when diving into the ins and outs of ESG investments.
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The Importance of Reassessing Insurance Coverage for Small-Business Owners

June 10, 2022
Insurance is crucial for any small business. Small-business owners may find themselves in a difficult situation without proper coverage if they suffer building damage or face a lawsuit. While obtaining adequate insurance for your company is critical, knowing when to reassess your coverage is also essential. As your business grows and changes, so do your insurance needs. Here are some instances when reevaluating your business insurance is necessary and why it is important.
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Wealth-Transfer Taxes Can Take a Toll on Small Businesses

June 6, 2022
Most business owners become wealthy the old-fashioned way -they work hard. But, suppose a business owner and his or her spouse were to die unexpectedly. Undoubtedly, they would hope their children or other family members involved in the business would reap the benefits of all their hard work. Unfortunately for surviving family members who depend on the business for their livelihoods, their troubles may have just begun. Although estate planning concerns may arise for
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Use Your Annuity to Pay for Long-Term Care Insurance

June 1, 2022
The cost of long-term care can quickly deplete your savings and affect the quality of life for you and your family. Long-term care insurance allows you to share that cost with an insurance company. But premiums for long-term care insurance can be expensive, and cash or income to cover those premiums may not be readily available. One option is to exchange your annuity contract for a long-term care insurance policy. Section 1035 exchange Generally, withdrawals from a nonqualified deferred annuity
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4 Costly 529 Plan Mistakes

May 19, 2022
With the average cost of tuition and fees at private colleges exceeding $43,750 in 2021-22—while out-of-state public college students are paying nearly $30,000 per year—saving for college might feel like a monumental task.1 For many parents, 529 college savings accounts may be a way to invest for your child’s future while perhaps saving money on taxes in some states. However, these 529 accounts have some challenges that may lead you astray if you do not pay attention. Here
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After the Military-Tips for Your Financial Transition to Civilian Life

May 10, 2022
A drawdown is looming. You're separating at the end of active service. You've decided to retire after a long career. No matter why you're leaving the military, a big part of preparing for your civilian life is taking steps to proactively address the financial issues you might face. Here are some tips to help ease the transition. Get your road map ready An impending separation from service may be both exciting and anxiety-provoking for you and your family. Your lifestyle, income sourc
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Defined Benefits Plan- An Attractive Option for Small Businesses

May 5, 2022
Defined benefit pension plans may still be an attractive retirement benefit option for small employers. This is especially true for small business owners who have been too busy growing their businesses to plan for their retirement. Because of their late start, they must make up for lost time. A defined benefit plan may be just the ticket.  Background and Basics Historically, the defined benefit plan was the standard type of employer-sponsored retirement plan. In recent years, however, defi
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Funding Buy-Sell Agreements with life Insurance

May 1, 2022
Suppose you are part owner of a firm that has been your family’s primary source of income. Have you ever considered what would happen if you were suddenly diagnosed with a serious medical condition? Naturally, your family’s first concern would be for your health and well-being; however, if you were to die prematurely, such an event could affect your family’s financial future. For instance, what would happen to your interest in the business? Would your family find a ready buyer
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Business Succession 101

April 20, 2022
The transition is generally not difficult if it is eased by preparation, most of which will involve your family and/or business partners. It then becomes essential that everyone get together to talk over the business issues that will affect their lives.The discussion should determine: Who will be active in the business;What their roles in the business will be;How participating individuals will be compensated; andWhat compensation inactive members will receive. And this gets tricky with family
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3 Ways to Invest in Our Planet on Earth Day

April 11, 2022
A green future is a prosperous one, and it is essential for everyone to do their part to ensure the future stays bright. Earth day may be the ideal time to find ways to invest in the planet so that the current generation and future generations may reap the benefits of a clean and productive environment. If you are looking for ways to celebrate Earth Day this year, why not consider investing in our planet with some of the environmentally-conscious ways listed below? Focus on ESG and SRI Investing
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5 Attributes of Successful Entrepreneurs

April 6, 2022
What does an entrepreneur need to create a dynamic company? The right mindset is a big part of it. As an entrepreneur, you devote half your time or more to the daily hustle, making things happen and accomplishing goals. The other half is looking ahead, knowing where you want to be and when. For some, overcoming the mental anxiety of uncertainty is the first big step. The nights of self– reflection during the early startup phase always give rise to a lot of our own demons and make us realiz
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If Social Security Falls Short, Have a Plan

April 1, 2022
Are you worried about the current state of the Social Security system and how its future may affect your retirement income? It's important to take a long, hard look at your current savings strategy to ensure you'll be able to compensate for this, or any other, retirement income shortfall. Here are some important savings strategies that can help you work towards your retirement income goals. Participate in your employer's retirement plan. Regular contributions to an employe
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Assessing the Health of Your Business

March 31, 2022
In today's business climate, it may be more important than ever for companies to operate at maximum efficiency and with a keen awareness of the potential impact of changes in their industry and the economy. Using a SWOT analysis to take a closer look at your company’s internal operations, as well as its position in the marketplace, may help you avoid costly mistakes, improve your management practices, and refine your long-term strategic goals.The acronym SWOT stands for Strengths, We
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How to Spring Clean Your Finances with a Financial Review

March 21, 2022
Spring cleaning presents a great opportunity to clear out any items you no longer need and the same goes for your finances. Checking in with your finances during tax season may be particularly beneficial, as it allows you to complete last year's taxes while making any changes you need to potentially improve next year's tax situation. Below, we discuss what's included in a financial review and how such a review can help you spring clean your finances. What is a Financial Review
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Making the Most of Your Relationship with a Financial Professional

March 14, 2022
Heading to your first meeting with a new financial professional may be a lot like going on a blind date. Can you have anything in common? Can you click? Can you trust this other person with what's most important to you? A strong relationship with your financial professional may be key in managing your finances, both now and in the future. Below, we discuss a few ways you may be able to make the most of your relationship with your financial professional. Think About Your Goals Before creati
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Protect Financial Information from Prying Eyes on the Web

March 11, 2022
As more and more consumers search for financial information on the Internet, they may inadvertently leave themselves open to being tracked by certain companies and individuals. Visitors to financial websites have created a large mass of information that is, in some cases, hardly private. Many marketing companies routinely employ software programs designed to identify you and your ; habits on financial websites. Some are basic and some can be very invasive.
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The Traits of a Good Investor and How Women Can Make the Most of Them

March 8, 2022
One of the best things you can do for yourself and/or your family is to be prepared to manage your finances responsibly. Even if you see investing as overwhelming or complicated and boring, you need to know the basics behind awell-thought-out investment strategy — at least enough to protect yourself from fraud and/or communicate effectively with a financial professional or spouse. Many women manage their own money. This includes women who have always been doing so and women who are re
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Five Helpful Tools for Tax Prep

March 2, 2022
Tax preparation tools and products continue to evolve even more quickly than the federal tax code itself. Which tax prep tools are worth the hype, and which may be passed over? Below we discuss five high-tech tools to help make tax time as simple and streamlined as possible. Receipt-Organizing Apps If you're deciding whether it makes more sense to itemize your deductions, it may be time-intensive to track down all the receipts needed to determine which option is preferable. Receipt-organizi
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Credit Education Month: 4 Ways to Boost Your Credit IQ

March 2, 2022
March is National Credit Education Month in the U.S., which makes it the perfect opportunity to brush up on your credit basics. ;Whether your a credit novice or well-versed in the art of the FICO score, below are four ways to potentially boost your credit IQ. Dissect Your Credit Score Do you know what goes into your credit score? Although the exact weight given to each factor is proprietary, the credit reporting bureaus look at the following: Late payments and accounts in collection
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How to Manage Your 401k When You Switch Jobs

February 21, 2022
In the past, boomers and generation Xers often held on to jobs for 10 or more years. Some professionals stayed with the same company for most of their working lives. The Great Recession changed this for many. Now, people have become more comfortable moving from job to job. Millennials are especially adept at this. They change jobs three times more often than other generations.Changing jobs introduces a new dilemma for people, regardless of why or how often they do so: what to do with the 401(k)
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Building a Strong Financial Foundation

February 7, 2022
Today, many people are concerned about saving for retirement or paying for a large ticket item, such as a child's college education. If you belong to this group, now may be the time to organize your finances. It is never too early to begin, and the sooner you start, the better. Consider the following steps to building a strong financial foundation:
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Retirement Plan Limit Updates for 2022

February 7, 2022
Many IRA and retirement plan limits are indexed for inflation each year. Although the amount you can contribute to IRAs remains the same in 2022, other key numbers will increase, including how much you can contribute to a work-based retirement plan and the phaseout thresholds for IRA deductibility and Roth contributions. How Much Can You Save in an IRA?
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How to Recognize & Protect Yourself Against Tax Identity Theft

January 21, 2022
When you hear the term identity theft, the first thought that comes to mind may involve a data breach or opening a credit card in someone else's name. But another common type of identity theft involves the use of someone's Social Security number to unlawfully intercept their income tax refund. Unfortunately, this fraud often isn't discovered until the victim tries to file their taxes. Instead of getting a quick refund, they may instead be facing a lengthy battle with the IRS.
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Five Healthy Habits for Financial Wellness

January 17, 2022
Financial stress can have a direct negative impact on a person'ss health and happiness.  Unfortunately, this may lead to a downward spiral. The more stress you're feeling, the larger your financial hurdles may seem, and the more you may rely on unhealthy stress-reducing habits. Fortunately, there are steps you may be able to take to improve your financial situation and help manage money-related stress. Below are five habits you may wish to adopt to work toward financial wellness.
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Five New Year's Resolutions for Those Nearing Retirement

January 10, 2022
Getting ready for retirement is both exciting and daunting. While you are likely looking forward to the enjoyment and relaxation that retirement may bring, you are also cautious about ensuring you have enough money to be able to retire in the comfort you anticipate. If your retirement years are on the horizon, below are a few new year's resolutions that may help put you on track.
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Tax Preparation Checklist

January 1, 2022
Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key information you need when preparing this year's taxes:
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End of Year Financial Planning

December 13, 2021
For some, it's easy to put personal finances on the back burner during the last few months of the year. However, before the year comes to an end, it's essential to review your finances. By doing so now, you can make the most of reviewing this year's progress and plan for next year to help position yourself for a financially strong future. Here are some tips to help with your end of year financial planning.
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Outlook 2022: Passing the Baton

December 10, 2021
LPL Research Outlook 2022: Passing the Baton is designed to help you navigate the risks and opportunities over the rest of 2021 and beyond. While the economy continues to move forward, we're still feeling some aftershocks of COVID-19 and the Delta variant. At the same time, 2021 also saw a resurgence of activities we missed in 2020, and the S&P 500 Index continued to advance as corporate America faced these challenges with resiliency.
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How Will the Infrastructure Bill Impact Investors?

December 7, 2021
In a late-October victory for construction companies, public utilities, and electric vehicle manufacturers alike, Congress passed a trillion-dollar bill designed to preserve, revitalize, and expand the country's infrastructure. President Biden has now signed it into law. While this bill has been long-awaited; and is an integral part of President Biden's Build Back Better plan; some critics are concerned about its hefty price tag.
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5 Investment Considerations for Small Business Owners

December 6, 2021
If you're a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans. We've outlined five key differences for your consideration.
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Optimizing Required Minimum Distributions

December 3, 2021
Seventy-two is an important age milestone for those in or near retirement, as it marks the time when required minimum distributions (RMDs) begin to be withdrawn annually from IRAs and employer-sponsored retirement plans (previously, the threshold was 70 1/2).
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Retirement Mistakes to Fix Before the Holidays

December 1, 2021
You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your retirement. Here are a few of the top mistakes people make to screw up this potentially crucial saving.
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Thanks and Giving: How You Make a Difference on Giving Tuesday

November 17, 2021
Giving Tuesday is a day to extend the goodwill that the holiday season may bring to help others. With so many in need, the holiday season is a reminder to help those less fortunate. Whether you want to donate your time or contribute funds to your favorite cause, there are many ways to celebrate the day. Here are some ways to mark the occasion.
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4 Year-End Tax Planning Tips for Small Business Owners

November 11, 2021
The past two years presented many small-business owners with unprecedented challenges. This year's tax planning preparations include necessary measures for small-business owners to satisfy existing, new, and modified tax laws that may help small-business owners manage 2021 tax liabilities.Taking the time to learn about the 2020 pandemic tax changes may make a difference. Some laws have extensions into 2021 for eligible tax credits and deductions.
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The Most Common Tax Tips Before Year End

November 11, 2021
Tax planning can be advantageous when done during the year and well in advance of the year's end. Opportunities exist for you to mitigate tax liability, which may leave more income for you and/or your family. Generally, people put off tax planning because paying income taxes is an obligation. So, this negative view can cause frustration.
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Using Trusts to Manage Wealth: What Investors Should Know

November 11, 2021
Whether you manage a trust for someone else, are the beneficiary of a trust, or are thinking of creating a trust, you probably have some questions about the best practices of trust management. A well-managed trust can help preserve wealth for generations, while a poorly-managed trust may provide only a quick path to insolvency. How can you ensure that your trust falls into the first category?
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A Year-End Planning Checklist for Everyone

November 11, 2021
It may be easy to forget we're nearing the end of the year. Even during the busy end-of-year rush, it's a good time to reevaluate your 2021 finances and turn an eye toward 2022. What can you do now to potentially improve and streamline your 2022 budget? Below, we discuss three year-end planning steps that may make your 2022 finances run more smoothly.
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