Rising Costs, Roth IRAs, and Social Security: Wealth Planning in an Inflationary Environment
Rising Costs, Roth IRAs, and Social Security Expectations With inflationary pressures and economic uncertainty this year, building a buffer for rising costs may be wise. To prepare for a potential price surge, we recommend increasing projected living expenses this year and next. For those feeling the strain of higher costs, now is a good time […]
BOI Reporting Update: FinCEN Removes Requirement for U.S. Companies
Beneficial Ownership Information (BOI) Reporting Update FinCEN has removed the requirement for U.S. companies and persons to report beneficial ownership information (BOI) under the Corporate Transparency Act, effective March 2, 2025. Now, only foreign entities registering to do business in the U.S. must report BOI, but they are not required to disclose U.S. persons as […]
Managing Your Wealth Plan as Inflation Stabilizes and Tariffs Loom
Managing Your Plan Amid Inflation Shifts February inflation data was released last week, showing signs of stabilization. Consumer prices were up 2.8% in February from a year earlier, per the Labor Department (Wall Street Journal). However, this could change with the introduction of new tariffs in the coming months. A slightly higher long-term inflation rate […]
Proactive Strategies to Guard Against Wealth Planning Risks During Market Volatility
Staying Ahead of Volatility Even with seemingly stable economic data and company fundamentals, there’s an undercurrent of fear and uncertainty that may lead to further market volatility. It’s important to stay alert during these turbulent times and proactively guard against risks. One area to review is leverage in the form of margin loans and pledged […]
IRS Layoffs During Tax Season: What It Means for Your Filing and Audits
IRS Layoffs During Tax Season The administration’s cost-reduction plan has led to IRS staff layoffs, affecting approximately 6,700 employees right in the middle of tax season. The new DOGE cuts primarily impact the Small Business/Self-Employed Division, which focuses on compliance for businesses with under $10 million in assets. As a result, those who file their […]
Market Volatility Warning Signs: How to Protect Your Portfolio Now
Market Jitters Recent economic indicators suggest the economy may be cooling, including a decline in the US Purchasing Managers Index for Services and a weaker-than-expected Michigan Consumer Sentiment Survey. This could lead to market volatility and increased uncertainty. A brief review of your plan may reassure those concerned about market fluctuations. Modeling a scenario with […]
Navigating Inflation: What a 3% CPI Means for Your Financial Plan
Navigating Inflation Inflation remains a concern, holding steady at 3% (U.S. Consumer Price Index, February 2025). Given this persistence, the Federal Reserve is unlikely to lower rates aggressively. While this may feel unsettling, it is important to put the numbers in perspective. The 50-year average inflation rate before 2022 hovered around 2.3%, but now it […]
How Tariffs and Policy Shifts Could Impact Your Long-Term Wealth Strategy
What Policy Shifts Could Mean for Your Long-Term Strategy Many changes are unfolding in Washington, including ongoing discussions about tariffs – most recently on steel and aluminum. The outcome remains uncertain, leaving many wondering how these shifts could impact inflation and financial markets. Uncertainty often breeds concern, sometimes even fear, which can reduce consumer spending. […]
Wildfire Insurance Claims and Mortgage Payments: What Homeowners Must Know
The Impact of Wildfires on Insurance Claims and Mortgage Payments The recent wildfires in Los Angeles brought attention to an important issue regarding insurance claims for homeowners with mortgaged properties. Many homeowners are surprised to learn that when their property sustains structural damage, the insurance check for the full insured amount is sent directly to […]
Gen X Retirement Planning: Strategies for the Sandwich Generation
Gen X and Retirement Concerns People between the ages of 45 and 60, labeled Generation X, are increasingly worried about retirement. Despite many having substantial liquid assets, some find themselves questioning whether they’ll be able to afford their retirement expenses when everyday costs rise. According to a recent Allianz Life survey, inflation is a top […]
The Best Gift for Recent College Grads
By Mallon FitzPatrick As published in Rethinking65 July 6, 2023 – Summer is here, and with it, a fresh flock of college graduates eager to assert their independence and embark on a new chapter of their lives. Many advisors and investors are parents or grandparents to these young achievers and are surely brimming with pride. […]