Indexes are generally a good way to diversify your holdings with one trade. For example, buying an S&P 500 Exchange Traded Fund (ETF) Index gives you exposure to all companies in the S&P 500 without having to buy 500 different stocks.

As the year draws to a close, we want to remind you of the significant financial planning benefits that come with year-end gifting to your loved ones and charitable causes. Gifting to Loved Ones: By gifting money or assets to your loved ones, you can reduce your taxable estate, helping to ensure that your wealth benefits your family now and in the future. Tax-Advantaged Gifting: There are annual and lifetime gift tax exclusion limits that allow you to make gifts without incurring gift taxes. In 2023, you can give up…

End-of-year gifting can be a strategic component of your financial plan, as it can help you manage your wealth efficiently, reduce your taxable income, and provide financial support to loved ones. Here are some beneficial end-of-year gifting strategies to consider: Annual Gift Tax Exclusion: Each year, you can give up to a certain amount (the annual exclusion limit) to an individual without incurring gift tax. In 2023, the annual exclusion limit is $17,000 per person. If you’re married, you and your spouse can make combined gifts of $34,000 to a…

The U.S. Bureau of Labor Statistics (BLS) publishes a Consumer Price Index (CPI) every month. The goal is to capture an accurate inflation rate for the economy, i.e., how fast prices are increasing for consumers. The September CPI report showed that inflation was up 3.7% year over year and core inflation (ex. food and energy) was up 4.1% year over year. A consumer may read this report and scoff - my expenses went up much more than 3.7%. And why do I care about an inflation number that excludes food…

Roth conversions are a tax-planning strategy that you can use to reduce the impact of taxes on your retirement portfolio. The strategy is a way to pay income taxes on pre-tax retirement funds (IRA, 401k, etc.) in exchange for future tax-free growth and withdrawals. The analysis is simple conceptually: if the assets in question would be taxed at a lower rate by converting them to Roth and paying tax on them today, versus waiting to pay the tax in the future when they are eventually withdrawn, then the Roth conversion…