
Succeeding at Business Succession
Family businesses account for 54% of private sector Gross Domestic Product (GDP), yet 43% of family businesses have no formal succession plan. While those numbers may shock you, it is not surprising that many small business owners are consumed by … Read more…

The Sequence of Returns
What exactly is the “sequence of returns”? The phrase describes the yearly variation in an investment portfolio’s rate of return. But what kind of impact do these deviations from the average return have on a portfolio’s final value? Let’s take … Read more…

Helpful Retirement Strategies for Women
Preparing for retirement can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due … Read more…

IRA Withdrawals that Escape the 10% Tax Penalty
The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.1 Yet, … Read more…

Building a Solid Financial Foundation
When you read about money matters, you may see the phrase, “getting your financial house in order.” What exactly does that mean? To some, when your financial “house is in order,” it means it is built on a solid foundation. … Read more…

Three Key Questions to Answer Before Taking Social Security
Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of this retirement income source. … Read more…

Should You Borrow from Your 401(k)?
The average household with revolving credit card debt had a balance of $7,876 as of March 2023. For the average household carrying credit card debt, this will equate to an annual interest of $1,380. With the average credit card annual … Read more…

Critical Estate Documents
Financial Documents Joint Ownership Durable Power of Attorney Living Trust What does it do? Enables you to own property jointly with another person Authorizes someone to handle legal and financial decisions if you become incapacitated Holds your belongings until … Read more…

Roth IRA for Kids
Small business owners may find it challenging to find ways to provide additional benefits to their children who work for the company. One often overlooked choice is including a Roth individual retirement account (IRA) as part of their compensation, a … Read more…

Choosing a Retirement Plan that Fits Your Business
If you have yet to develop a retirement plan for your business, or if you’re not sure the plan you’ve chosen is the right one, here are some things to consider. How much can my business afford to contribute? The … Read more…