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ESG Investing: The New Frontier for Environmentally Conscious Investors

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 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

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

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

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

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

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

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

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

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

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?

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

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

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

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

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

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

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

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

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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