There is a purpose to having money and growing your wealth, but what money can’t do is create purpose in and of itself.

Dollie Halford | CFP®, CDFA®

C. Skotty Wannamaker

Handling personal finances can be complicated at times; however, managing finances while also facing divorce can be even more complex. Divorce can bring an unwanted combination of emotional disruption and significant financial changes. Whether you face divorce currently or in the future, the following considerations and examples may help you reach your best financial situation as you work alongside your team of trusted advisors.

The traditional path to saving and investing has been to focus on the future (retirement), and rely solely on numbers and return on investment (ROI). However, this approach often can be misleading because it doesn’t consider your individual circumstances. “Beating the market” is often an artificial objective because it is not likely to have a substantive impact on your unique situation. Consider this: what does beating the market by one percent less (or more) mean to how you live your life? Do market returns have an impact on how you live your life?

On December 20th, 2019 the Setting Every Community Up for Retirement Enhancement (SECURE) Act – was signed into law, representing the most extensive changes to retirement legislation in over a decade. One of the primary objectives of the SECURE Act is to help Americans save for retirement – and many of the new rules and provisions reflect that including: * Required Minimum Distributions (RMDs) will now start at age 72 (instead of 70½) * IRA contributions can be made after age 70½ as long as there is earned income * Part-time employees may now be eligible to participate in their company-sponsored retirement plan

As the year draws to a close, now is a good time to both reflect and to plan for the future. Much like the prior year, the 2019 calendar year has continued to be a year of significant change and uncertainty. The Internal Revenue Service (IRS) and the U.S. Treasury have continued to issue interpretative guidance on the Tax Cuts and Jobs Act (TCJA) and other legislative changes at a rapid pace. In some instances, guidance issued is entirely new and not yet finalized. In other instances, the new guidance replaces prior guidance issued in the form of proposed regulations and notices. The result is a myriad of effective dates and choices for taxpayers to navigate.Dixon Hughes Goodman (our parent company) has put together the attached letter which highlights a few tax planning areas for you to consider before year end. This letter does not address the nuances and variations in existing guidance that must be carefully evaluated before implementing any provision highlighted herein. We anticipa...

Given the current state of politics in America, the holidays will no doubt result in some uncomfortable, if not downright contentious conversations between millennials and their boomer parents at the holiday dinner table. Over the coming weeks, you will likely see countless articles about how to talk with family members who disagree with you politically.While millennials and boomers can agree to disagree on uncomfortable topics like politics and religion, there is one important topic which should not be ignored, despite how uncomfortable it is, money.It’s tempting to avoid financial conversations altogether, because, let’s face it, nobody wants to feel like they are prying into their parents’ business, and most parents don’t want to take financial advice from someone whose diapers they’ve changed countless times. But as uncomfortable as it is, the consequences of avoiding this topic can be costly.Here are 5 important financial conversations that you would ...

College admissions has always been an important topic for American families. More recently it has been front page news as individuals have sought to game the system through connections, false narratives, or bribery.  While not as sensational as this spring’s scandal, we hope to provide interesting, concise, and timely insight into the college financial aid process. 

Whether due to disability, dementia, or simply enjoying an exotic vacation, there are many ways you can end up unavailable to make critical financial or health care choices for yourself or your loved ones. If you’ve not documented your desires in advance, it can add extra stress for everyone, plus the outcomes may not be what anyone had in mind! In this article learn about three key planning tools you can use today to protect yourself and your assets.

There are 2 ways to enter a swimming pool.  You can walk yourself in slowly.  Step by step. Inch by inch. Gradually edging yourself into the water so as not to be shocked by the cold. Or? You can dive right in without hesitation.  Putting money to work in the capital markets is no different, leaving investors faced with the decision: is it better to wade or plunge? 

One of the most important letters you may receive is a letter titled “Your Retirement Choices.”   This cheery title sits atop a letter that companies send when it’s time for you to make a decision regarding your accrued pension benefits and is usually sent close to your expected retirement date – although sometimes there is an opportunity to claim benefits early.