Qualified charitable distributions (QCDs) are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older can make QCDs up to $105,000 (in 2024, $100,000 in … Read more
When January 1 rolls around, it doesn’t automatically mean you’re a new person or that the year ahead will be any different than the year before. However, the beginning of a new year is an excellent time to reevaluate your financial planning efforts – or finally get something started that you’ve wanted to do for … Read more
Everyone does retirement their own way, depending on how long you’ve worked, how long you plan to work, and what your goals are for after you’ve waved goodbye to the daily grind. No matter your career or lifestyle, essential steps for retirement planning are consistent across the board and keeping these in mind with help … Read more
The Type 2 diabetes drug called tirzepatide was approved by the U.S. Food and Drug Administration (FDA) in November 2023 for treating chronic weight management. Sold under the brand name Mounjaro for treating diabetes, the drug will be called Zepbound when prescribed as a weight loss medication. In a nation that has become fascinated with … Read more
The word “portfolio” has many meanings, and it can be applied to a person’s estate planning choices. If you don’t have estate planning essentials in your name, now is the moment to invest in the careful collection and naming of your assets and personal directives. Now is the time to build a new portfolio. Common … Read more
What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property–your time or personal services do not count. There are several different types of property that can be donated to charity, and a … Read more
Estate planning can be as complex or simple as a person wants. When you hold significant financial assets, it’s essential to outline your wishes clearly in your will. Establishing a living trust, also known as a revocable trust, and funding it with specific assets makes it easier to hold and protect these assets during your … Read more
Financial experts use a variety of fee structures when charging clients for financial planning services. Knowing the services and time commitment that are important to you and knowing what’s available from each unique professional or group is necessary, so you are fully aware of your compensation obligations. You might be surprised about some of the … Read more
When the Federal Reserve raises its benchmark federal funds rate, there are a number of ways it could affect you as a consumer and investor. What is the federal funds rate? The federal funds rate is the interest rate at which banks lend funds to each other overnight to maintain legally required reserves. It applies … Read more
Artificial intelligence (AI) has the power to produce some amazing images. Whether you need a sleek industrial landscape, fuzzy animals, a cartoon likeness of a celebrity, or an abstract scene, AI can usually deliver. Creative industries struggle with the nuances of this technological development which is taking on a bigger role in that professional realm, … Read more
Everyone experiences major life changes. Some are planned, others are a surprise, but no matter what happens and when, these large shifts can absolutely alter your financial present and future. Financial planning with a dedicated financial advisor ensures that you are ready to handle change as it comes your way and still maintain financial security. … Read more
There are multiple reasons physicians consider going into private practice. Everyone has their own story of why, but when making a life-altering decision you must think of all the aspects of the business. The first step is to decide what type of medical practice you want to operate. The responsibility of the practice differentiates depending … Read more
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