The end of the year is upon us. Here are some tasks to check off before 2024 arrives! It’s that special time of the year when the holiday spirit is in the air, good friends are always near, and family time fills up our schedules. It’s also the perfect time to take financial inventory and reassess your plan to see if it still aligns with your goals. You may need to make tweaks, as your circumstances have almost certainly changed. Maybe that’s because of a major life event or an unexpected expense, which most people experience or incur over the
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Posts by Ryan Benning
Why Estate Planning is About More Than Money
October is National Estate Planning Awareness Month! Here’s how the right plan can help you protect your family. Estate planning is only for the extremely wealthy. I don’t have enough assets to need a will. My family will figure it out. Things will sort themselves out. I’m way too young to start thinking about a legacy plan. Making an estate plan is just too expensive right now. These are just some of the most commonly believed myths about estate planning we hear directly from our clients. But the fact is, they’re just that: myths. They hold little weight and don’t
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6 Key Features of Indexed Universal Life Insurance
Indexed universal life insurance is a type of permanent life insurance that offers different benefits to policyholders. Here is what you need to know! Traditionally, life insurance has been one of those assets someone might hold but hope they never have to use. Often crafted to protect from the worst-case scenario, it’s most known for the death benefit it can offer heirs in the event of untimely death, providing a payout that has the potential to ease both financial and emotional tension. Modern life insurance options, however, can come with different features depending on the type of policy you purchase.
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Financial Freedom at Each Stage of Life
What does financial freedom mean to you? It could give you the opportunity to pursue personal goals and milestones while shouldering less of a financial burden. It’s true. Money can’t buy happiness. You can’t simply walk into a store and purchase it over the counter or off the shelf. It can, however, open avenues that allow you to pursue happiness, giving you the flexibility to chase what makes you feel fulfilled, understood and complete. That flexibility is called financial freedom, and it occurs when you’re no longer beholden to restrictions placed upon your goals and your desires by your unique
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7 Signs You May be Ready for Retirement
It can be difficult to know when you’re ready to retire, but checking these seven boxes may be a sign that the time is coming. Preparing yourself for retirement can be scary, as so many variables and questions leave timing up in the air and offer little to no confidence when it comes to selecting the perfect moment to quit your job and spend your time doing what you want to do instead of what you have to do. There are, however, strong indicators that may help you realize that you’re ready to retire. While many savers and pre-retirees
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Investing Alternatives During Periods of Market Volatility
During periods of market volatility, investors may look to alternative vehicles. Here are some options to consider. 2022 was a difficult year for investors, with all three major market indexes dipping simultaneously and taking their biggest hit since the housing crisis of 2008[1,2,3]. Now, even with all three up through the first five months of 2023, volatility and uncertainty are stuck in the back of investors’ minds, possibly pushing them to look elsewhere for more diverse vehicles that have the potential to provide growth and protection. Though diversification of assets certainly doesn’t guarantee success, it can play a major role
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Are Weddings Worth the Money?
While so many people dream of their special day, it’s worth asking the question: Is it worth the price? Love conquers all, right? It’s a nice thought, but as the price of having a fantasy wedding continues to soar, so many couples are left wondering if it’s worth it to have a grand showcase and celebration for their first moments bonded in holy matrimony. In fact, the numbers appear to back these concerns, as the average cost of a wedding in 2022 was $30,000, a $2,000 increase from the 2021 total [1]. When the median household income in the United
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7 Strategies to Reduce Taxes
No matter which phase of life you’re in, you might be looking for ways to trim your tax bill. Here are some strategies to consider! Nothing is certain but death and taxes. Perhaps a phrase most known for being spoken by Benjamin Franklin, the old adage seems to have held up over the course of centuries as a constant, dogmatic idea that sticks with investors and consumers. Nevertheless, each year around tax time, most of us wonder how we can pay less in income taxes, and the answer to that question is always, “It depends.” Each person’s situation is completely
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What To Do with Inherited Money
Whether planned or unplanned, many are unsure of how to proceed after inheriting money. Here are a few steps you can take to make the most of it. So, you’ve inherited money. Depending on the circumstances, it may have been expected or unexpected, and it may or may not have come with a great deal of heartache. Nevertheless, too few people know what to do when they inherit large sums of money, imposing more pressure than they might have imagined. Here are a few things you should consider when you inherit money. Take a Brief Moment to Think When you
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7 Ways SECURE Act 2.0 Could Affect Your Retirement
SECURE Act 2.0 was signed into law at the end of 2022. Here are a few ways it could affect your retirement. After consumers throughout America were forced to endure a harsh financial storm in 2022, the year came to a close with President Biden signing a bill intending to increase and enhance the capabilities of retirement accounts. The bill is commonly referred to as SECURE Act 2.0, and it is the follow up to the Setting Every Community Up for Retirement Enhancement Act of 2019. It is expected to assist retirees and pre-retirees even further in the pursuit of
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