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Protecting Your Tax Identity Doesn't Have to Be Taxing Donald F. Morgan, AIF®,CPFA® January 06, 2024 When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft — and it’s also the most common fraud attempt during tax filing season.1 If your identity is stolen for tax purposes, you can find yourself waging battle on two fronts: against the identi

Filing an Estate Tax Return Donald F. Morgan, AIF®,CPFA® January 01, 2024 What is an estate tax return? When you die, you will leave behind all your property (everything you own) and debts (everything you owe). All this is called your estate. After the debts have been paid, the various items left in your estate will be transferred to your heirs and beneficiaries, but first the federal government will take its share through estate taxes (gift and estate tax and generation-skipping tran

6 Business Goals for a Prosperous New Year Donald F. Morgan, AIF®,CPFA® December 01, 2023 The new year is fast approaching, and it is the perfect time to set up resolutions for your business. Whether you want to increase your sales, gather a more extensive customer base, or just accomplish needed business improvements, below are a few goals to help you get started. 1. Beef Up Your Online Presence Your business’s online presence is a crucial component of marketing your company. I

Tips for Talking to Your Kids About Your Finances Donald F. Morgan, AIF®,CPFA® December 01, 2023 Communicating openly can help everyone prepare and plan for the future Many parents may find it uncomfortable, or even believe it is unnecessary, to inform their children about personal finance matters. Yet, communicating openly with your family members can help to reassure them about your financial and health care wishes. This may also ease the decision-making process for your family in m

Filing an Estate Tax Return Donald F. Morgan, AIF®,CPFA® January 01, 2024 What is an estate tax return? When you die, you will leave behind all your property (everything you own) and debts (everything you owe). All this is called your estate. After the debts have been paid, the various items left in your estate will be transferred to your heirs and beneficiaries, but first the federal government will take its share through estate taxes (gift and estate tax and generation-skipping tran

6 Business Goals for a Prosperous New Year Donald F. Morgan, AIF®,CPFA® December 01, 2023 The new year is fast approaching, and it is the perfect time to set up resolutions for your business. Whether you want to increase your sales, gather a more extensive customer base, or just accomplish needed business improvements, below are a few goals to help you get started. 1. Beef Up Your Online Presence Your business’s online presence is a crucial component of marketing your company. I

6 Business Goals for a Prosperous New Year Donald F. Morgan, AIF®,CPFA® December 01, 2023 The new year is fast approaching, and it is the perfect time to set up resolutions for your business. Whether you want to increase your sales, gather a more extensive customer base, or just accomplish needed business improvements, below are a few goals to help you get started. 1. Beef Up Your Online Presence Your business’s online presence is a crucial component of marketing your company. I

  Tips for Talking to Your Kids About Your Finances Donald F. Morgan, AIF®,CPFA® December 01, 2023 Communicating openly can help everyone prepare and plan for the future Many parents may find it uncomfortable, or even believe it is unnecessary, to inform their children about personal finance matters. Yet, communicating openly with your family members can help to reassure them about your financial and health care wishes. This may also ease the decision-making process for your fami

  A Look at Tax Planning for Retirement Donald F. Morgan, AIF®,CPFA® December 01, 2023 After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS. Social Security Benefits Depending upon yo

A Look at Tax Planning for Retirement Donald F. Morgan, AIF®,CPFA® December 01, 2023 After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS. Social Security Benefits Depending upon your tota

Tax Planning for the Self-Employed Donald F. Morgan, AIF®,CPFA® December 01, 2023 What is it? According to the IRS, you are self-employed if you carry on a trade or business as a sole proprietor, as an independent contractor, as a member of a partnership, or if you are otherwise in business for yourself. You can be a full-time employee and still have self-employment income from a side job. To determine whether particular income is self-employment income (rather than employee wages, fo

Which Student Loan Repayment Strategy Is Appropriate for You? Donald F. Morgan, AIF®,CPFA® November 02, 2023 When it comes to repaying your student loans, one size does not necessarily fit all. The key to a manageable repayment plan is to find a strategy that works well for your goals, budget, and lifestyle. Here are some questions to help you assess a student loan repayment plan for your situation. Is Refinancing Always the “Best” Option? Although refinancing may be a gre

  Your Traditional 401(k) Year-End Review Checklist Donald F. Morgan, AIF®,CPFA® November 01, 2023 A 401(k) plan is one of the most popular and effective techniques for saving for your retirement. A company will automatically withdraw and contribute money from each paycheck to your 401(k) plan. Some employers will even match a percentage of the contribution. Are you maximizing these contributions? There are also limits on how much you are allowed to contribute annually. Here is a 4

Got Investophobia? Here are 6 Steps to Overcome Your Investing Fears Donald F. Morgan, AIF®,CPFA® October 30, 2023 Investing your money for the future might be one of the quickest ways to grow your wealth, whether saving for retirement or making a large purchase. While most people know investing is a potential way toward a more manageable financial future, some may find investing challenging and somewhat scary. Here are a few simple steps to help overcome your investing fears. Step 1:

What You Need to Know about Life Insurance Donald F. Morgan, AIF®,CPFA® October 23, 2023 Did you know about 50 percent of Americans do not have life insurance? Part of the problem is a lack of clarity: 31 percent of people who need it but aren’t covered say it’s because they don’t know what to get. But it doesn’t have to be complicated. In the simplest terms, life insurance is a contract between a policy holder and an insurer; in exchange for monthly or annual

What's Happening in the World of Higher Education? Donald F. Morgan, AIF®,CPFA® October 16, 2023 A 2023 survey revealed a notable shift in public opinion over the past decade about the value of a college degree: 56% of Americans think a four-year college degree isn't worth the cost due to students graduating with significant debt and a lack of specific job skills vs. 42% who believe college is worth it. The survey numbers have almost reversed from ten years ago, while college en

How to Make Keeping Track of Your Finances Easy Donald F. Morgan, AIF®,CPFA® October 09, 2023 Now is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial professional can explain how you can work together to identify strategies to help you work toward financial independence. Making a plan for your finances may give y

  Department of Education Launches New SAVE Income-Driven Repayment Plan Donald F. Morgan, AIF®,CPFA® October 02, 2023 The Department of Education recently launched the most generous federal student loan income-driven repayment (IDR) plan to date — the Saving on a Valuable Education (SAVE) Plan. The  SAVE Plan comes after the U.S. Supreme Court blocked federal student loan cancellation in June and before payments are set to  restart in October after   more

5 Emergency Savings Tips for Building a Financial Safety Net Donald F. Morgan, AIF®,CPFA® September 25, 2023 From unemployment to a sudden health crisis to a crippling accident, being financially prepared for life's many challenges may smooth the road ahead. Whether you are just starting out or have been working toward financial health for years, there are a few key steps you may take now to help construct your financial safety net. Make a Budget It is tough to assess your financi

Why Financial Preparedness Is a Smart Investment Donald F. Morgan, AIF®,CPFA® September 18, 2023 During turbulent financial times, having a financial emergency plan might provide you with a proverbial life preserver. Whether it is an emergency fund to help you tackle an unplanned expense, insurance to cover an unexpected accident or disaster, or a "go bag" that contains all your most important records, organizing your finances may help you feel prepared to handle anything that

Why Financial Preparedness Is a Smart Investment Donald F. Morgan, AIF®,CPFA® September 18, 2023 During turbulent financial times, having a financial emergency plan might provide you with a proverbial life preserver. Whether it is an emergency fund to help you tackle an unplanned expense, insurance to cover an unexpected accident or disaster, or a "go bag" that contains all your most important records, organizing your finances may help you feel prepared to handle anything that

5 Milestones That Mean It's Time for a Life Insurance Review Donald F. Morgan, AIF®,CPFA® September 11, 2023 Obtaining a life insurance policy is part of being an adult. But it’s also something that you can easily neglect, especially if you obtained it earlier in adulthood. While you may have been diligent in securing your life insurance policy, failing to review or update the policy when you have significant life changes may result in too little or too much coverage. It is a

Which Student Loan Repayment Strategy Is Appropriate for You? Donald F. Morgan, AIF®,CPFA® September 04, 2023 When it comes to repaying your student loans, one size does not necessarily fit all. The key to a manageable repayment plan is to find a strategy that works well for your goals, budget, and lifestyle. Here are some questions to help you assess a student loan repayment plan for your situation. Is Refinancing Always the “Best” Option? Although refinancing may be a gr

How Emotional and Behavioral Barriers May Impact Your Investing Decisions Donald F. Morgan, AIF®,CPFA® August 28, 2023 Ah, Money. The word leaves you with a positive or a negative feeling when you hear it. The feeling we get from money, and investing, has deep roots inside our emotions, although we may not understand why. Behavioral science explains why we make our investment decisions and how we emotionally react to them. Behavioral science has become such an extensive study that there

How Student Loans Impact Your Credit Donald F. Morgan, AIF®,CPFA® August 21, 2023 If you've finished college within the last few years, chances are you're paying off your student loans. What happens with your student loans now that they've entered repayment status will have a significant impact — positive or negative — on your credit history and credit score. It's payback time When you left school, you enjoyed a grace period of six to nine months before you

5 Tips for Saving and Investing as a Small-Business Owner Donald F. Morgan, AIF®,CPFA® August 14, 2023 As a business owner, putting all your profits back into the business may be tempting, especially during the lean years. However, when it comes to saving and investing as a business owner, there are other paths you could consider for the long run without so much emphasis on the short term. Maintain Liquid Assets Everyone needs to have savings. For small business owners, savings are cr

Repaying Student Loans Donald F. Morgan, AIF®,CPFA® August 07, 2023 What is it? When you take out a loan to pay for college or graduate school, you must repay that loan at some future date. If you find yourself in the position of having to budget every month for a student loan payment after graduation, you are not alone. A majority of students now borrow at least some money to help finance their education. Yet excessive student loan debt can have negative ramifications. For example, s

Six Keys to More Successful Investing Donald F. Morgan, AIF®,CPFA® July 31, 2023 A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully. Long-term compounding can help your nest egg grow It's the "rolling snowball" effect. Put simply, compoundi

Donald F. Morgan, AIF®,CPFA®July 17, 2023Being a small business owner can be rewarding but also may bring a lot of stress. You may be experiencing the pressures of trying to grow your company while providing a solid future for your employees. On top of all that, you will also need to focus on building financial independence for yourself and for your business. There are many paths to financial independence; below are a few directions to get you started. Optimize Your Current Assets One o

      

Golfing and investing may not seem to share much common ground at first glance. But the more you think about it, a successful golfer and a successful investor share a number of traits such as patience, perseverance, attention to detail, and intellectual curiosity. Below, we discuss a few areas investing and golf have in common—as well as a couple of tips you can use to make sure your investing game is as successful as your golf game.  

Life Insurance Donald F. Morgan, AIF®,CPFA® May 15, 2023 Back to the Basics As you consider the wide range of life insurance coverage available, you may wonder what type really fits your needs now, and what will suit your needs in the future. A good, first step is to ask yourself why you are buying insurance, and how it will fill your personal and family financial independence requirements. Do you want insurance to cover a new home or mortgage? A col

Proactive tips to help you and your family pursue a confident financial future As you enter the workforce and start to earn a regular income, it's easy to get carried away with newfound financial freedom. However, this can often lead to costly money mistakes that can have long-lasting consequences.Here are some common money mistakes that young professionals often commit. Overspending and Living Beyond Means One of the most common money mistakes is overspending and living beyond your me

Donald F. Morgan, AIF®,CPFA®May 01, 2023For small business owners, ensuring your investment is covered is critical to ensuring the survival of your business after you are gone. One of the ways in which small business owners do this is by applying for life insurance in the event they were to die before they retire. Life insurance benefits small business owners and their heirs in many ways, from providing for loved ones to providing financial stability to your company after you’re go

The first quarter of 2023 was kind to investors, as the S&;P 500 gained 7% over the three months. It's a sign that bodes well for the rest of 2023, historically speaking.;Data from Morningstar Direct shows that in 16 out of 16 times when the S&P 500 has seen a gain of 7% or more in Q1, it finished with positive returns for the full calendar year&averaging 23.1%. The even better news is that 15 out of those 16 years saw positive returns for each remaining quarter too

  What is it? Life insurance is not only about protecting your survivors in the event of your death. Depending upon the type of policy you purchase, it can also enable you to meet specific life goals: retiring comfortably, paying for your child's education, accumulating wealth, and paying for estate costs. If you own a business, life insurance can even fund the purchase of your business interest when you die or decide to sell your business. In addition, life insurance can provide you w

4 Financial Skills All Business Owners Should Learn Donald F. Morgan, AIF®,CPFA® April 10, 2023 Running a business requires gaining expertise in many things over a short period—especially financial matters. If finances do not come naturally to you, you may quickly feel like you are in over your head. Fortunately, mastering these skills might be easier than it seems. Here are four key financial skills that all business owners need to learn. Reading Financial Statements Being able

Though baseball and stock market investing may not seem to have much in common, there are a few key similarities—both are stats-driven and require focus, a relative lack of emotion, and a clear mind. And when it comes to investing, you would probably rather emulate Babe Ruth than Bill Buckner. Here we discuss three common investing mistakes that every major league investor should try to avoid. Swinging For the Fences on Every Pitch As any baseball fan knows, with the exception of the Home

When you start to consider if investing is an appropriate option for you, you may have questions. You might want to ask: How do I invest money, and where?How much money will I need?What are some common strategies for someone that has never invested before?   It’s OK to have questions. Investing can be a challenging subject to grasp. The more you learn about investing and the potential benefits, the more your confidence may grow.   It’s exciting when you decide to invest a

Starting a company from scratch can be stressful, no matter how well-prepared you are. Many entrepreneurs can be vulnerable to burnout, which can quickly turn a dream business into a nightmare. What can business owners do to reduce stress and avoid losing their zest for entrepreneurship? Check out these five helpful tips below. Set Boundaries Solid and clearly-communicated boundaries are crucial for any business owner. There will never be a time when there isn't something to do&md

What if you focused on your system instead of just your goals? Setting goals for a new year can feel overwhelming.  We all know that resolutions don’t last, but we also feel the energy that comes with a new year of possibilities. Here’s a clearer path for setting and reaching your goals. Many of us love complex processes. Intricacies of a large spreadsheet really get our brain going and we can spend lots of time deeply analyzing financial questions. Maybe. But when we try to ap

Financial wellness is living a healthy economic life for yourself and feeling good about your financial situation. It is also an essential part of taking care of yourself and those around you. Financial wellness can mean different things for different people when it comes to your finances. However, financial wellness encompasses these key areas: Taking control of your money before it controls you.Determining how safe your money is.Planning what to do with your money. Financial wellness can lea

We wish you a happy New Year and hope you were able to close out 2022 with friends and family. The beginning of a calendar year is often the time when the previous year’s reflections transition to a new year’s hopes. Given the market’s continued instability during 2022 and a resulting tough period for stock and bond prices, everyone is hoping for a fresh start. And history gives us cause for optimism following a difficult year. While each new year brings its own unique circumst

The past decade has seen a massive surge in digital transformation, and the next ten years promise to be no different. In 2023, we will see many new technologies take center stage that has the potential to reshape our lives drastically. From AI-driven automation and robotics to autonomous vehicles, hyperloop transport systems, blockchain technology adoption, and 5G network deployment – there are endless possibilities for how these advances can improve our lives in the future. AI is one of

The idea that there are no future facts is an important concept in understanding why predictions about extremely complex systems like the weather and markets do so poorly.1 This concept was first introduced by the philosopher David Hume in 1748 and was based on Aristotle's concept of the "law of contradiction.2" Hume argued that since cause and effect are not known until they have happened, there are no future facts. This idea has major implications for predicting the future, parti

Unlocking American Productivity: Exploring the Deflationary Effects of Technology Leaps in AI, Autonomous Vehicles, Robotics and Additive (3D) Manufacturing...

'Tis a burden, a grind, for young adults to bear, Money problems weigh down on their new lives.When you're fresh out of school, you feel the despair, As student loans pile up and dreams take flight. The future seems foggy, uncertain of course,No jobs in sight, despite their best attempts.In a world so complex, it's a constant source, Of stress for the graduates, with no reprieve's a struggle to make ends meet, that's for sure,In an economy that's tight and unkind...

Recent graduates with advanced degrees often find themselves in the difficult position of having to budget their finances. This is especially true for those who have taken out student loans to finance their schooling. With the cost of living increasing, it is important for these recent graduates to keep track of their expenses in order to stay within their budget. This is where expense tracking and budgeting software can come in handy. Financial planning software like iWealthConnectTM and eMoney

As a new graduate school student, budgeting can be a stressful and daunting task. Managing student loan debt and allocating funds for different expenses can be overwhelming, but it doesn’t have to be. With the right approach, dedication, and assistance from a financial planner, budgeting can be simplified and become a much less daunting task.  Savings is an important part of budgeting for any graduate school student. It is important to have a plan for both short-term cash savings and

Student loans are a form of financial aid that can help individuals pay for college expenses, such as tuition, fees, books, and living expenses. They are typically provided by the federal government, state governments, or private lenders. Student loans are a great way to bridge the gap between what students can afford and the rising costs of higher education. When considering whether to take out a student loan, it is important to understand the basics of the loan and the potential for repayment.

Through all the challenges, newfound opportunities, and every high and low we've experienced during the last couple of years, it's no surprise why we might be striving for more balance. Whether it's about the markets and global economy or what's happening in our local communities, the news we're hearing on a daily basis has the potential to disrupt the balance of our lives. But with resilience, perspective, and the support of close connections, we can navigate ...

October is now behind us and it has delivered on its track record as a historically favorable month for stocks, offering some respite for investors as major equity indices rose for the month. The downside pressure on equities had gotten a bit overdone after investor pessimism during September reached lows not witnessed in quite a few years. From a contrarian perspective, extreme pessimism can often be followed by a market bounce. Such a reaction can serve as a reminder not to react too quickly t

In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates, and we thought it was an important time to take stock with the final quarter of 2022 just ahead.It has been a difficult year, not only for investors but also for households and businesses as we all navigate higher prices and borrowing costs. There will be some challenges ahead for the economy as the Federal Reserve (Fed) continues to raise rates to contr

When it comes to stock market performance, August was “the best of times, and the worst of times.” The strong market rally that peaked in mid-August was viewed by many analysts as a transition from a bear to bull market, based on the surge in breadth that stocks enjoyed and the magnitude of the two-month rally that began in mid-June totaling 17%. The market rebound and overall bullish sentiment began in earnest when Federal Reserve (Fed) Chairman Jerome Powell suggested at the late J

Saving money when planning a trip—the dos, the don’ts. Imagine coming home refreshed from a wonderful vacation, made even more satisfying because you saved 20%-30% on its cost. That can happen. With a little planning, a trip can become notably cheaper. When you travel can make a difference. Book a trip during the off-season or the “shoulder seasons” adjoining it. Hotels and air carriers hike their prices in peak season, so avoid that time. The same goes for how you travel

Identity theft compromises the personal data of millions of Americans every year. There are steps you can take to minimize your online risk and protect your sensitive data from cyber-attacks...

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of Washington D.C., with a Schumer-Manchin agreement on a climate-healthcare-tax bill and some inflation data that added to the evidence that inflation has peaked. Stocks expressed approval of this news, securing its second straight solidly positive week. The S&P 500

Life Insurance Can Help Provide Confidence about the future...

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 what lies ahead. So far, this year hasn’t seen a full-blown crisis like 2008-2009 or 2020, but the ride has been very bumpy. We may not be flying into a storm, but there’s been plenty of turbulence. How businesses, households, and central banks steer through the rough air will set the tone for markets over the second half o