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How to Minimize Taxes During Market Downturns
Understanding long-term capital gains taxes when you sell investmentsMarket downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and...
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How Buy-Sell Agreements and Life Insurance Work Together
When people think about life insurance, what may come to mind is settling final expenses and providing financial support for your loved ones. But, if you own a business, life insurance can be used as part of a buy-sell agreement. Here...
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Tax Considerations Of Selling Your Veterinary Practice
Today, veterinary practices are responsible for treating millions of animals, large and small. The livestock industry alone is around $80 trillion. But when most people think about veterinarian practices, they think about the...
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Stocks - Tax Planning
What is investment tax planning for stocks? Investment tax planning for stocks takes advantage of the tax rules with the goal of achieving the best after-tax return on these investments. Strategies will differ depending on whether you...
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Asset Protection for Women - Beyond Insurance
As women continue to work and earn money, become the main breadwinners, and run their own businesses, it's important to take measures to protect your lives, businesses, and simply the things you own. That's why asset protection...
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Boomers' Post-Pandemic Retirement Concerns
For many who are decades away from leaving the workforce, retirement may seem like an abstract concept. But once you've entered your late fifties—like the youngest Baby Boomers, turning 57 in 2021—retirement may begin to...
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Indexed Universal Life Insurance
Indexed universal life insurance (IUL) is a type of permanent, cash value life insurance. Like universal life insurance (UL), IUL offers you the ability to change your level of protection, premium amounts, and payment frequency...
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Deciding To Sell Your Veterinary Practice?
You have had a dynamic veterinary practice for several years, but after consultation with your family, spouse, or business partner, you have decided it is time to sell. It is a big step, both an exciting and frightening life-changing...
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Now Might Be a Good Time for a Roth Conversion
One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a...
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How Disability Income Insurance Policies Define Disability
When was the last time you read the fine print of an insurance policy? The fine print tells you some important information--how the policy defines disability, what your benefits will be, what exclusions apply, and more. The disability...
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LPL Financial Research Midyear Outlook 2022: Navigating Turbulence
Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...
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The Simple Life: 3 Tips for Simplifying Your Financial Life
If you sometimes feel like your financial life has too many moving parts, you may be looking for ways to get back to the basics—without letting anything slip through the cracks. Fortunately, simplifying your finances does not...
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July 2022 Client Letter
As the calendar has turned to July, investors would certainly like to forget the first six months of 2022. However, the Fourth of July Independence Day holiday does bring with it reason for celebration. Not only is it the...
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Understanding the Three Different Types of Annuities and Payout Options
If you're like some Americans, you've probably heard of annuities but are unsure what they are. An annuity is a contract with an insurance company designed to help your money last throughout your life. With an annuity, the money you...
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5 Ways Whole Life Insurance Provides Tax Advantages
Life insurance is essential in providing for beneficiaries upon your death, but it can also offer other tax advantages you may not know. For this reason, whole life insurance, also called cash value life insurance, is often used as a...
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What is a SIMPLE?
There are many types of employer-sponsored retirement plans. One that may appeal to small businesses and to self-employed individuals is the savings incentive match plan for employees (SIMPLE) because, as the name implies, it is easy...
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Three Things You'll Wish You'd Known Before Retirement
Retirement is one of the biggest life transitions adults will ever deal with. After 20, 30, or 40 or more years in the workforce, new retirees can find it hard to adjust to the reduced amount of structure in their daily lives. But...
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June 2022: A Bear Market is Officially Here
A bear market is officially here thanks largely to stubbornly high inflation. For many of us, it has probably felt like a bear market for a while now, but the S&P 500 Index didn’t close more than 20%...
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Insurance Protection for Dentists: The Big Four
Dentists and their staff often spend their time processing insurance payments and explaining to their patients the benefits of the patient's own dental insurance. But what about the insurance products dentists need to protect...
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A Guide to Retirement Planning for Doctors
Working in medicine may be challenging, especially with the strain placed on health care professionals throughout the COVID-19 pandemic. Working towards a comfortable early retirement may be a financial goal for some physicians. Here...
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Required Distributions: Changes You Need to Know
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts...
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Market Swoons Can Be Great for Angel Investors
Business abounds with tales of investors appearing like angels for the last-minute rescue of new and, of course, ultimately successful companies. The shoestring struggle always reads like a page-turner, climaxing in riches for all. But...
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What Should You Do as Markets Flirt with Bears?
Market declines should inform – not drive - your asset allocation decisions. The standard definition of a bear market is when major U.S. stock indices, such as the S&P 500, drop by 20% or more from their peak. And 5+ months...
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Despite Concerns, Retirement Confidence Remains Steady
Nearly three quarters of workers and 77% of retirees in a recent survey said they remain at least somewhat confident that they will experience a comfortable retirement, according to the Employee Benefit Research Institute. Nevertheless...
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May 2022 Client Letter
As we move into spring and leave behind the last signs of a long winter, many worries from a chilly start to the year for markets, unfortunately, are still with us. The S&P 500 Index had its worst April in more than 40 years, leaving...
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Why Retirees Should Devote Time to Community Service
After retirement, you may find you have more time on your hands than you first anticipated. If you are looking for something to fill your downtime that may be fulfilling and beneficial to your health and wellbeing, community service...
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Choosing Your Pension Payout Option
Many couples may find themselves confronted with a dilemma as retirement nears. If you plan to receive your pension payout on a monthly basis (rather than in a lump sum), you must decide whether you want to receive a higher payment...
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April 2022 Client Letter
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” - Sir John Templeton According to the guidance of revered investor Sir John Templeton, it appears to us that this market...
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Understanding the Advantages of an HSA in 2022
A Health Savings Account (HSA) can be a good alternative to traditional health care, especially for those who are young and healthy. With an HSA, you put money away in a tax-advantaged account but in order to be eligible, you must...
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Three Things That Happened Last Week That Have Bulls Smiling
Last week was quite the week for stocks, as the S&P 500 Index gained 6.2% for its best week of the year and best weekly gain since the week of the US election in early November 2020. View enlarged chart. In the process there...
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Tax Prep Checklist: Everything You Need to Be Ready for Tax Season
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What Physicians Should Know About Choosing a Financial Professional
As a group, physicians are among the highest-earning professionals out there—and this specialized and life-saving career comes with some specific financial needs. Because of this, physicians should seek out a financial...
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5 Critical Financial Strategies for Physicians
As a physician, you understand your medical specialty inside and out, but at the same time, you also need to be able to handle the financial challenges associated with your industry. That may include juggling a lot of student and...
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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 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...
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Physicians: Why You Need a Financial Professional Who Understands Your Industry
As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top notch care that enriches your patients’ lives, and in the midst of all that, it can be easy to overlook your finances. To...
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