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AI's Role in Shaping Our Tomorrow: A Look Ahead
While artificial intelligence (AI) is making headlines today, the concept of "thinking machines" can be traced back to ancient philosophers and mathematicians. The phrase artificial intelligence was first used in the mid-20th century,...
Read MoreTop 10 Questions High Net Worth Individuals Ask About Social Security
Social Security, the program you may have spent a lifetime paying into, is designed to offer stability, supplemental income, and other valuable benefits that can play a role in your overall financial strategy after you retire. We've...
Read MoreUnderstanding the September Effect: What It Is and Why It Happens
If you ask the average investor which month is the most volatile for the stock market, they will probably say October. It's a reasonable answer, but it's incorrect. Despite October's reputation for market-defining events like the...
Read MoreDon't Get Hooked: A Guide to Recognizing and Avoiding Phishing
As financial professionals, we understand how vital it is to safeguard your personal and financial information. Unfortunately, in our increasingly digital world, cybersecurity risks, such as phishing attacks, have become a prevalent...
Read MoreMoney Tips for Parents Sending Children Off to College
You’ve done a great job teaching your children vital life lessons and instilling values that will last a lifetime. As summer ends and a new school year begins, one thing that shouldn’t be overlooked, especially for...
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Attention Parents and Grandparents of College-Bound Students: FAFSA Gets an Overhaul
Changes are coming to the complicated form that students must submit to qualify for college financial aid, known as the Free Application for Federal Student Aid (FAFSA). The Department of Education is calling it the “most...
Read MoreThe 6 Biggest Mistakes DIY Investors Make and How to Avoid Them
7/25 The 6 Biggest Mistakes DIY Investors Make and How to Avoid ThemIntroductionOver the last several months, I have met with quite a few self-proclaimed do-it-yourself (DIY) investors who, after struggling with the markets in 2022,...
Read MoreHow the SECURE 2.0 Act Changed 529 Plans
Changes to 529 Plans in the SECURE 2.0 ActThe SECURE Act was initially passed by Congress at the end of 2019 and was intended to improve retirement savings opportunities. It was a big deal at the time and the most significant piece of...
Read MoreHealth Savings Accounts: Pros, Cons, and Retirement Considerations
What if your child needs braces? The cost may be as much as $6,000 for metal braces—more modern versions can run as much as $13,000. Your health insurance may cover only a portion of the cost. If you're well past the braces stage...
Read MoreTop 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)
Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to...
Read MoreNavigating the Costs of Senior Care: Tips for Preparing for Long-Term Care
Senior care costs can be overwhelming, particularly when long-term care is required due to illness or medical conditions. With the number of seniors in the U.S. expected to rise exponentially by 2030, it's crucial to be prepared for...
Read MoreLiving Trusts: Understanding the Basics and Key Considerations
Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...
Read MoreTrying to Time a Recession?
Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...
Read MoreWhat Factors Have the Greatest Impact on Your Credit Score?
Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...
Read MoreImportant Financial Considerations to Make When Remarrying Later in Life
Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...
Read MoreTop Considerations to Help Adult Children Be Better Prepared As You Age
As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...
Read MoreTips for Raising Financially Literate Children
Every parent wants the best for their children and strives to prepare them to lead a happy, healthy, and successful life. But, despite understanding the importance of financial responsibility, only 28 percent of parents speak to their...
Read MoreTransitioning to Medicare from Private Health Insurance Plans
Transitioning from Private Health Insurance Plans to MedicareAs you approach retirement age, you may be anticipating transitioning from your private insurance to Medicare, which is a federal health insurance program that provides...
Read MoreWhere to Put Excess Cash
According to the Investment Company Institute, near the end of 2022, there was more than $4.7 trillion in cash sitting in U.S. money market funds.1,2While cash can play a role in a diversified portfolio, historically, cash has not kept...
Read MoreTechnology Guide for Seniors
By 2040, the U.S. Census Bureau estimates that 80 million people in the U.S. will be age 65 or older.1 Most of these senior adults will either want to—or need to—"age in place," living in their homes securely, independently...
Read MoreWhat Is the Sequence-of-Return Risk and How Can Retirees Mitigate Its Effects?
With the possibility of a recession looming, it's natural for those nearing or in retirement to have concerns over their long-term strategies. After decades of accumulating a portfolio, the last thing retirees want is for a market...
Read MoreSmart Ways to Handle a Financial Windfall
Brought to you by Saul Simon in conjunction with Lincoln Financial Advisors*A financial windfall is something many people dream of, and for quite a few people that dream actually comes true. When people imagine this happening...
Read MoreLifetime Estate & Gift Tax Exemption Updates for 2023
In October 2022, the Internal Revenue Service (IRS) announced tax changes for 2023 — changes primarily driven, in part, by the current inflationary environment. For affluent couples or individuals interested in transferring...
Read MoreConsiderations in Choosing a Trustee
As you plan for your financial legacy, you may create one or more trusts to secure and convey assets to your future heirs. Chances are the trust(s) you create may exist long after you’re gone. And while a trust’s legal...
Read MoreThe Challenge of Raising Non-Materialistic Kids
In today’s social media-obsessed world full of popular “influencers” targeting teens, pre-teens, and even younger groups, instilling values in your children and grandchildren about what really matters in life is more...
Read MoreContribution Limit Increases for 2023: Just What We Wanted to Hear
In late October, the IRS announced that it is increasing contribution limits to retirement savings accounts in 2023. The changes, like many you are seeing, are a direct result of months of high inflation and financial uncertainty, some...
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Simon's ABCs of Trust
Some basics of trusts…. for example, a living trust, an irrevocable trust and a life insurance trust. Questions, direct message me…VARIOUS TYPES OF TRUSTSTRUST BASICS Generally, a trust is a relationship (among a grantor,...
Read MoreYear-End Financial Strategies
The year is almost over, and it has certainly been a bumpy one for the financial markets and our economy. As financial professionals, we work with families to design investment strategies that help them pursue their goals for education...
Read MoreCharitable Giving Strategies for 2022
Key points:Over the past five years, affluent Americans increased their donations to charity by 48%.1Understand various strategies to help you maximize the impact of your charitable donations and your income tax savings.To qualify for...
Read MoreHow Does the Inflation Reduction Act Impact Healthcare? A Guide During Open Enrollment Season
Key points:One of the biggest components of the Inflation Reduction Act is the changes to healthcare costs and coverage. The Inflation Reduction Act requires all pharmaceutical companies to rebate Medicare participants for the...
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Are You Ready To Take Social Security?
Social Security as a Stream of Post-Retirement IncomeWhat is Social Security?The Social Security Act was signed by President Roosevelt in 1935 as part of the New Deal to support a steady income for retired individuals 65 and older....
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The Value of An Experienced Financial Advisor
We are going through a very uncertain time with market volatility, high interest rates, the highest inflation in 40 yrs, and high gas prices. This seems to be the new normal. Now is a good time to review your financial well-being.
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Your New Journey Into Retirement And Beyond
According to the Social Security Administration, a 65-year-old can expect to live another 19 to 21.5 years, on average. And interestingly, the government agency also says a third of 65-year-olds will hit age 90, and 1 in 7 will live...
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Planning for Risk & Volatility When Looking Towards a Retirement Strategy
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Are You Really a Florida Resident…or Not? What You Need to Know To Establish Residency
If you decide to make FL your permanent residence, and you are a high net worth individual or couple, you may be caught off guard to find out that you still owe taxes to your previous high-income tax state, even after you have moved to FL.
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Simon Says®: Are You Thinking About College Costs for Your Children or Grandchildren?
Costs for higher education have sky-rocketed in the past few years and are only getting higher...so if you have children or grandchildren, that's probably something you think about quite a lot these days.
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Challenge Accepted: Overcoming Adversity to Thrive – What We Can Learn From History
As Americans, we have a history of persevering in the face of adversity. If you’re like many people today, you may be asking yourself, “Where do I go from here?” We think the answer is simple: “You go forward”.
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Are You Currently One of The Many Part-Time Retirees?
With so many people living longer today, it is more important than ever to make sure you have done your planning so that you can continue to enjoy your present way of life well into your 80s or even 90s.
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When Bad News Is Good News
Financial markets can be challenging to understand. But when markets enter a “bad news is good news” cycle, it becomes even more difficult to follow along.At its November meeting, the Fed outlined its plan to taper monthly...
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Your Financial Roadmap for 2022
It’s not conveying anything new when we say that we are living in very uncertain times. But one thing we know for sure, just as you should use a roadmap when you head out for a trip, the same is true for your personal finances....
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Simon Says®: Special Needs Trusts
For families caring for a loved one with a disability, special needs trusts—also called supplemental needs trusts—can provide a sense of security. Special needs trusts allow the family to improve the quality of life for the...
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Remembering 9/11 and What I Have Learned
It’s approaching 20 years since our country was attacked and I still have occasional nightmares about the day it happened. The morning of 9/11 I was on a flight from Newark, NJ, with one of my business associates heading to...
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Simon Says® - Having “The Talk” With Your Spouse
No one wants to think about being alone and without your spouse by your side, and as much as it is painful to think about, it must be discussed and planned for as the reality is at some point in every life the inevitable will occur. So...
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Simon Says® Here is Some Important Guidance If You Are Considering or Are In The Process of Getting
When going through a divorce, everything suddenly changes. What I hope to do in this blog about Divorce, is to help you plan for an amicable financial uncoupling of family assets while maintaining civility for all parties involved.
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Simon Says® Having the Talk With Your Business Partner
The latest blog in our series is, “Having the Talk With Your Business Partner”. This can be a difficult and somewhat sensitive discussion, however, it has major implications that could impact you and your partner, the...
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Simon Says® Having the Talk with Your Adult Children
Last month we discussed the difficult topic of, “Having the Talk with Your Parents”. This struck a chord with so many people and we had a very positive response from our contacts and connections. Therefore, this month we...
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Simon Says® Having The Talk With Your Parents
As we get older and hopefully wiser, more responsibilities fall upon us. We are often referred to as the Sandwich Generation, the ones in the middle, caught between our aging parents and our children. We, as children of aging parents,...
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Simon Says® Having the Talk With A Financial Advisor
Many people realize that their financial future and family legacy may depend upon their choice of a competent Financial Advisor. The ability to grow wealth and protect assets from being depleted by risky investments, income taxes and...
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Simon Says® How Well Are You Managing Your Money?
I think we can all agree that 2020 was a most challenging year and many people have been through some unexpected upheaval. With that said, how can you make sure that 2021 is going to be an outstanding year for personal and financial...
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Consider This Holiday Gift to You & Your Family: An In-depth Tax Review Before the End of 2020
As the year comes to a close, now is a good time to consider preparing for the 2021 tax season. Yes, we know it’s early, but this is the best time of year to consider what the tax implications might be for financial decisions you...
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Simon Says® Why You Need to Update Your Estate Plan Now & How It Can Be Done Without Any Stress
How long has it been since you last updated your estate plan? If you’re like many of us, the last time you reviewed your will and/or estate plan was when it was originally signed in your attorney’s office. When was that? 10...
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An Annual Financial Check-up in A COVID-19 Environment
It’s not conveying anything new when we say that we are living in very uncertain times. Just as you should visit your doctor each year for a complete medical check-up, the same is true for your personal finances. Rather than a...
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Election 2020: Simon Says® Preparing for Any Outcome
As the U.S. presidential election draws near, expect to see more and more headlines that propose, "What will happen next if this person is elected?" or, "What policy changes to prepare for in the next four years?"In reality, however,...
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Simon Says® October Is Financial Planning Month
When training to become a financial professional, much of our course work centers on the six critical areas of creating a financial strategy. Some recognize October as Financial Planning Month, so it's an excellent opportunity to...
Read MoreSimon Says® Top 5 Reasons Why Clients Should Update Beneficiaries
You’ve all heard the cautionary tales. An ex-spouse collects a death benefit that was intended for the current spouse. Along the way, fights break out. Lawsuits happen. Family members stop talking. And the biggest irony? The...
Read MoreWalking Through Challenges that Surround Us
I hope this finds each of you safe and healthy as we walk through the challenges that surround us. I have sent communications surrounding investments, giving historical perspective as well as reassurance during these volatile times in...
Read MoreThe Successful Person and Self Doubts
You are already a successful person in your field however we all go through times of self doubts, it is during times such as these steps can be invaluable. Surround Yourself With The Right People Be around the right people. When you...
Read MoreFinancial Strategies as We Work from Home
Stop putting yourself last on your “to do” list. Take the appropriate steps to prepare for your financial future now. We’re living thru challenging times & we’re continuing to wear many hats. We all live hectic...
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