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Do you have a 10-year financial plan? If not, working towards your goals can feel like scaling a mountain without any tools. But with the right strategies, you can chart a clear path and achieve your long-term milestones. What is a 10-year financial plan? A 10-year financial plan is your blueprint to reach your goals over the next decade. It considers your savings, investments, expenditures, and other financial endeavors, providing a structured approach to achieving various long-term financial objectives. These plans take a slightly different approach than a one- or five-year plan, focusing on growth potential, long-term financial stability, Read More

When you’re enjoying your golden years, the last thing you want is unexpected financial surprises, like Medicare’s Income-Related Monthly Adjustment Amount (IRMAA). Luckily, you can keep these charges from impacting your nest egg with some strategic asset management. What Is the IRMAA? The IRMAA is an additional charge added to Medicare Part B and Part D premiums for individuals and couples at higher income levels. In other words, if your modified adjusted gross income (MAGI) exceeds a certain threshold, you’ll be required to pay a higher premium for your Medicare Part B (medical services) and Part D (prescription drugs). How Read More

When working with a financial planner, you want to know that your finances are in the very best hands. To give you the reassurance you need, we look at some of the regulations that competent and trustworthy planners adhere to. Who Sets and Oversees Financial Planner Regulations? The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are the key players in the regulatory landscape. Both entities work to ensure financial planners and other financial professionals adhere to established standards. The Certified Financial Planner Board of Standards (CFP Board) also sets specific criteria for financial professionals Read More

In an age when new financial trends, apps, or innovations pop up every day, sometimes the best thing we can do is step back and review the fundamentals. In this blog, we look at the financial planning basics that prove essential to financial health, time and time again. Key Planning Components Goal Setting Why it’s important: Financial planning without direction is like setting sail without a destination. Clear, precise goals give you a sense of purpose, help prioritize your actions, and offer motivation if financial waters get rough. How to do it: Decide on your short-term (within a year), Read More

Managing wealth can be as tricky as the path taken to accumulate it. If you’re a high-net-worth individual, you know the stakes are particularly high. With as many challenges as there are opportunities, what is the best way to safeguard your assets, achieve your financial goals, and secure your legacy? This guide dives into the world of high-net-worth management, uncovering strategies to protect and grow your wealth. What Is a High-Net-Worth Individual? You’re generally considered a high-net-worth individual if you have $1 million in liquid assets (also known as investable assets). This wealth not only brings exclusive opportunities but Read More